406
General Discussion / Re: Approve my 100% pay rate delegate
« on: November 24, 2014, 12:28:16 pm »Yup. I haven't voted with most of my stake yet either. Next update will have a simple cold storage / voter key solution.
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407
General Discussion / Re: Sparkle - Because real money sparkles!
« on: November 24, 2014, 02:32:31 am »Sparkle is fully honoring AGS/PTS in recognition of their support and belief in many 3rd party DACs. BitShares will not be honored because of their view of everything else as competition.
This makes a lot of sense to me. I think this will be positively received in the Chinese community too.
You obviously understand the market and marketing. 30/30/30 as you mentioned later should work too.
Regards the name, Sparkle sounds quite feminine. Have you considered just 'Spark'. That sounds more masculine and impactful. Spark a fire/revolution/idea etc.
'All you need is a Spark'
408
General Discussion / Re: Sparkle - Because real money sparkles!
« on: November 24, 2014, 01:26:57 am » This sounds interesting, good luck 
409
General Discussion / Re: ripple rally
« on: November 23, 2014, 11:24:05 am »Ripple is being used by some banks. Its an amazing technology. I dont think this rally is fake in any way.
Sad thing about the distribution of the XRP though.
Ripple protocol is used by banks .
XRP coins is used to sell to the market .
Banks only need several hundred USD worth of XRP a year to operate the Ripple protocol . That‘s cheaper than the monthly income of a janitor.
So , you see .....
That is my understanding too.
410
General Discussion / Re: Proposal: If the supply is about to go below 2bn, save up for a dividend instead
« on: November 22, 2014, 09:43:21 pm »
I suppose the problem is you still have the issue that if BitShares gains mainstream adoption from consumers who don't care much about the blockchain on the backend, that we become largely expendable & obsolete. So we risk being diluted down by larger stakes unless BitShares commits to and markets itself to mainstream as having a fixed/defined supply long term. It's far more marketable & that way minority shareholders and early adopters gain greater protection long term.
411
General Discussion / Re: Imagine
« on: November 21, 2014, 10:09:19 pm »If this is something the community really wants...I can get together with the same producer that I worked with on the Welcome To The Blockchain song and we can create something original for Bitshares....am I to understand that there will be a minimum 500 BitUSD reward if it is favored by the community?
Yes... actually it will be "favored by me" because it should represent my vision... but I will highly factor in community opinion.
Evolvo, if you can do a song like that for BitShares, then Dan won't be the only one sending some BTS or BitUSD your way. The lyrics could frame the vision or they could help explain it or both.
What I'm envisioning is something that communicates the advantages of Bitshares from a technological, financial, and macro-economic perspective while underpinning that with the philosophical foundation upon which it rests. I hope that's something that Bytemaster and the community can get behind.
I totally get your angle. You're 'welcome to the blockchain' is pretty on the money. With a good video edit on top of that & a Ron Paul, Snowden, Crypto specific soundbite thrown in inbetween it would be pretty sick. A great balance of the goal and the basics of what it is. I could see something with maybe +15% on the philosophy getting the 18-36 Libertarian demographic in the bag.
They're looking for a +90% on the vision & philosophy angle here, don't know if that's your thing.
Could work very well, bit trickier to pull off though.
412
General Discussion / Re: Welcome To The Blockchain (The Bitcoin Song) -please check it out and spread it!
« on: November 21, 2014, 08:27:11 pm »
Well done. Awesome stuff!
413
General Discussion / Re: Imagine
« on: November 21, 2014, 06:21:51 pm »Agreed ... although .. from blockchain perspective .. BM can be "replaced" as a developer ... just saying
The blockchain is independent of the devs!!
Yes but from the public's perspective BM is the creator and founder--->therefore anything he says or does can and will be held against the blockchain in the mainstream media.
I think that might have been one of the reasons Satoshi wanted to remain anonymous and left bitcoin after it could walk on it's own.
I think most people who are drawn to BitShares will believe in greater individual freedom and privacy to some degree.
I think a key leader, like Bytemaster, who believes in those ideals to the maximum is probably a positive. So even though I think these ideas will create some robust debates, & I personally think he's too idealistic, that's kind of the point of the song 'Some may say I'm a dreamer' I also think now that we've transitioned to more of a competitive company than crypto-currency metaphor that it's also good to root ourselves in some meaning or purpose that's not entirely Darwinistically ruthless and his personal vision for the world is something that does that.
414
General Discussion / Re: Imagine
« on: November 21, 2014, 03:58:31 pm »Weird... in the frenzy of my last nights posting and the forum software playing ticks on me, my response to Emperical got lost...
In short, do you believe that the crime in GB is less than in your home country because the Brits have 50x better penalties or better law enforcement or better police? Or just because the criminals are 50x less likely to commit crimes?
My answer is simple - there are 50 better ways to make a living in GB, so the crime is about 50x less...
And doubling the # of persons, the money spent on crime prevention, and doubling the penalties in any of those 2 will do nothing to the real crime level.
All of those are a factor. Better law enforcement is the key though.
You are either harshly deterred by the likelihood of getting caught & the punishment, be it from law or violence from community justice. (Given the choice between community violence or shunning, few would choose the violence, hence the communities free market solution to deterring crime is violence
) Where deterrents are ineffective, good law enforcement can at least remove people from society. As I mentioned though even the best legal system is not without many terrible faults.Only people sheltered by a semi-functioning first world legal system and a poor understanding of human psychology tend to believe in far more idealistic alternatives. I think the alternatives sound wonderful though, I encourage pursuit of them whether through blockchain technology or other methods, any ways of creating respectful harmonious societies that require less threats of force or violence. Just don't expect me or my loved ones to live in them till the concepts are fairly well proven in practice.
Edit: My current framework revolves around maximum individual freedom, whilst protecting people from violence, rape & serious crime. I also want to protect 'alleged' criminals from violence too.
My belief is any form of psychological punishment is both an insufficient psychological deterrent for violent crime and insufficient psychological punishment/justice from the POV of the victim and their loved ones that are affected by it, at this current stage of human evolution. Many rapists, murderers and people who enjoy violence are repeat offenders and so society is protected if they are removed. So I am in favour of a some legal system to deal with this issues and have yet to see something I consider a viable alternative.
415
General Discussion / Re: Imagine
« on: November 21, 2014, 12:47:54 pm »
Yeah I'm undecided. I grew up in South Africa. It has one of the highest murder rates in the world and over 80% go unsolved. I won't go into the gruesome detail of how those statistics play out when they affect some of your closest family and friends as well as many other life changing crimes such as gang rape etc.
So I actually prefer myself as well as my friends and loved ones living in the UK that has some kind of law enforcement even though it's possible I could be unfairly on the receiving end of it. Of course the system is flawed & does degenerate into an abuse of power. There is also one law for some and another for others.
Also you'll find if you ever have the unfortunate experience of living in a lawless world that basic human psychology seems to result in street/mob justice with little due process and the punishment of death for crimes as trivial as being accused of stealing a mobile phone.
Decent documentary on community justice - http://m.youtube.com/watch?v=MKVBrR5YMJ0
http://m.youtube.com/watch?v=tyBzwEIj5QM
If there are blockchain solutions to some of these issues I welcome them.
So I actually prefer myself as well as my friends and loved ones living in the UK that has some kind of law enforcement even though it's possible I could be unfairly on the receiving end of it. Of course the system is flawed & does degenerate into an abuse of power. There is also one law for some and another for others.
Also you'll find if you ever have the unfortunate experience of living in a lawless world that basic human psychology seems to result in street/mob justice with little due process and the punishment of death for crimes as trivial as being accused of stealing a mobile phone.
Decent documentary on community justice - http://m.youtube.com/watch?v=MKVBrR5YMJ0
http://m.youtube.com/watch?v=tyBzwEIj5QM
If there are blockchain solutions to some of these issues I welcome them.
416
General Discussion / Re: BTS is deflationary
« on: November 21, 2014, 10:15:20 am »
I had a 4+ year old inspiration.
BTS has a supply of ~3.6 Billion shares.(or whatever the actual max is). Not all this supply is current available for anyone. Some of it is left in 50 BTS chunks in future blocks.
In each block that we do not have 101 delegates taking 100% of the max allowed pay for that block, we are effectively decreasing the supply of BTS.
Makes sense to me. Unfortunately some people in the community like Empirical1.1 don't seem to agree.
I will quote *clout* (even though he might not realize it).
Because v1.1 knows shit!
Sorry, Empirical 888 brother...but the ability to change one's views is as valuable for a human, as the ability to keep its value is for gold.
Your contention would hold true if BTS said we want to follow a supply curve of a precious metal/lock ourselves into some long term rules like Bitcoin or other but that is not the BTS POV.
BTS is not a DAC that has decided to follow the limited rules of money. It is a competitive DAC that wants to be adaptable so it can respond to it's environment. If a wonderful merger opportunity comes to add value to BTS, BTS is still open to it. If BTS finds a good sharedrop scheme that is fantastic at driving network effect then more dilution will likely be added.
At some point though the downtrend will stop. New features will drive up the price. Having the ability to hire marketers and developers does add value, especially ones that the community agrees on. If you can create a large network effect before you see a serious competitor, then BTS may even wipe the floor with Bitcoin within a year/2 imo.
417
General Discussion / Re: Are bitassets backed by nothing?
« on: November 21, 2014, 01:58:33 am »
For 1 BitUSD to be created a short has to post $2 worth of BTS as collateral. As trades are happening fairly frequently, BitUSD is on average backed by a few hundred percent of BTS as collateral.
This is much better than banks which work on a fractional reserve and only have like 5-10% of collateral to back up your deposits.
This is much better than banks which work on a fractional reserve and only have like 5-10% of collateral to back up your deposits.
418
General Discussion / Re: Can someone research the history of our use of "bitgold" and "bitsilver"?
« on: November 21, 2014, 12:43:59 am »
It's described in detail in the original whitepaper http://static.squarespace.com/static/51fb043ee4b0608e46483caf/t/521f54b0e4b05eac92eff809/1377785008699/BitShares+White+Paper+%282%29.pdf
& BitGold is also explained & called BitGold clearly in this Coindesk article Aug 22nd 2013
http://www.coindesk.com/bitshares-p2p-trading-platform-to-offer-dividends-on-bitcoins/
& BitGold is also explained & called BitGold clearly in this Coindesk article Aug 22nd 2013
http://www.coindesk.com/bitshares-p2p-trading-platform-to-offer-dividends-on-bitcoins/
Quote
Specific BitAssets include BitUSD (BitShares to US dollars), and BitGold.
419
General Discussion / Re: Is everyone against merger and inflating for stuff out of BTS yet?
« on: November 20, 2014, 11:57:25 pm »could you explain please , why this "currencies" so special to use over BTC?We have not done that.
BitShares is not a currency, it is a company.
Its products (BitUSD, BitCNY, BitGLD, etc.) are currencies.
First generation crypto currencies are subject to large fluctuations in price that makes them less suitable for use as a store of value. BitShares BTS it also subject to such fluctuations. So we don't use it as a currency. We use it as collateral to back a stable currency pegged to other assets like USD, CNY, EUR, gold and silver.
This next-generation currency, produced as a derivative of the underlying asset, is much more stable and therefore suitable for use as a currency.
In the process we improved everything else about bitcoin. Confirmed transactions are possible in ten seconds vs. the hour it can take to get a fully confirmed Bitcoin transaction.
In addition, the BitShares currencies (BitUSD, et. al.) pay a yield - similar to variable interest to all who hold them.
BitShares completely revolutionizes the crypto currency industry.
This is not just an incremental improvement or a better meme.
It is the same scale of performance improvement as between a horse and an automobile.
EDIT: In terms of speed, it is more like the leap from a horse to a jet aircraft.
As an analogy, BTS like real world gold while bitusd, bitcny etc. as real world currencies. So this whole mechanism behind BTS is an evolution digitally of the old-fashioned monetary system, which as BM put it as BANKING.
No BTSX was like a real world gold, BTS is like a share in a competitive company that shareholders change based on what they think is best. Bytemaster has said if you want something like a gold, buy BitGold. I think some people will prefer something more like a real world gold backing BitAssets a bit more.
Well, reading ur reply I suddenly realise that BTSX is actually gold as it is has a fixed amount. So I agree with you BTS is not suited to this analogy anymore...Unless we can see BTS as digital gold anyway because real world gold quantity is increasing somehow though in a very very slow pace. This is not the serious point anyway.
Thanks toast for enlightening me, it's just the way I understand it. I would prefer a thing has collateral nature as analog of gold, which bitgold not have?
Yes I think many would prefer a thing has collateral nature as analog to gold.
Unfortunately BTS can't be seen as that, as even though it is increasing at a slow pace it may be changed for a merger with another company or for other reasons. BTS is still good collateral because it is very transparent & there is a lot of BTS backing the BitAssets, so it is still very safe. People will think of it differently to BTSX though in my opinion.
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General Discussion / Re: Is everyone against merger and inflating for stuff out of BTS yet?
« on: November 20, 2014, 11:33:43 pm »could you explain please , why this "currencies" so special to use over BTC?We have not done that.
BitShares is not a currency, it is a company.
Its products (BitUSD, BitCNY, BitGLD, etc.) are currencies.
First generation crypto currencies are subject to large fluctuations in price that makes them less suitable for use as a store of value. BitShares BTS it also subject to such fluctuations. So we don't use it as a currency. We use it as collateral to back a stable currency pegged to other assets like USD, CNY, EUR, gold and silver.
This next-generation currency, produced as a derivative of the underlying asset, is much more stable and therefore suitable for use as a currency.
In the process we improved everything else about bitcoin. Confirmed transactions are possible in ten seconds vs. the hour it can take to get a fully confirmed Bitcoin transaction.
In addition, the BitShares currencies (BitUSD, et. al.) pay a yield - similar to variable interest to all who hold them.
BitShares completely revolutionizes the crypto currency industry.
This is not just an incremental improvement or a better meme.
It is the same scale of performance improvement as between a horse and an automobile.
EDIT: In terms of speed, it is more like the leap from a horse to a jet aircraft.
As an analogy, BTS like real world gold while bitusd, bitcny etc. as real world currencies. So this whole mechanism behind BTS is an evolution digitally of the old-fashioned monetary system, which as BM put it as BANKING.
No BTSX was like a real world gold, BTS is like a share in a competitive company that shareholders change based on what they think is best. Bytemaster has said if you want something like a gold, buy BitGold. I think some people will prefer something more like a real world gold backing BitAssets a bit more.
