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Messages - kenCode

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436
General Discussion / Re: Marketing plan for Bitshares 2.1
« on: March 07, 2016, 02:33:05 pm »
I am not a Marketer, this is why I work with Chris4210. He is out there every single day guys shaking hands with Executives from billion dollar corporations, flying to Amsterdam and other events (his parents paid the way for him thusfar, but cannot continue that forever!), organizing Meetups, tweeting and doing everything a successful Marketer can do with no income.
 
I can get a successful team of Marketers together, but REAL Marketers cost money. As you know, I do not hire Americans or other high priced labor, I know that sounds bad, but this is one reason why I can build so much stuff so fast. I will get us a Marketing team now that will blow the doors off any other out there.
 
As Chris said, it's time to get LOUD. I/we need your support for it though...

437
General Discussion / Re: Potential BitShares Road Map for 2016
« on: March 07, 2016, 08:06:13 am »
I'd like to know what @ccedk @Stan @Riverhead @onceuponatime and @bytemaster think of that yield harvesting proposal.
https://bitsharestalk.org/index.php/topic,21597.0.html
 
Like I mentioned @tbone -if it brings liquidity to bitEUR, bitCNY and bitUSD, as well as tightening those spreads then I am all for it
...especially since this is just a 6-month trial.
 
The poll suggests that stakeholders are in favor of this too, so why not give it a green light?
 
BSIP needed @Empirical1.2 please. Unless one of the 5 folks above has a good reason not to try this out, then I will support this.

@kenCode: during the mumble 2 Fridays ago, @bytemaster said he had read Empirical's post and thought he was reading his mind.  He said paying yield is simply paying people to lock up their funds, an idea he himself has proposed on multiple occasions.  He said doing so gives people a reason to stay in, encourages them to be engaged in the process, encourages them to be active voters, etc.  He also said this concept is sound, although he pointed that yield harvesting means people are shorting BitAssets to themselves (i.e. no net long or short position), which doesn't create liquidity.

I agree with this for the most part, although I would make 2 points.  First, not everyone taking advantage of the yield will be harvesting.  Some will be new users attracted by the yield to buy and hold BitAssets.  So that real demand means new users and some increased liquidity.  Moreover, we could pay just enough yield to incentivize people to create and hold BitAssets (must lock funds for a minimum period of time), but then also incentivize anyone willing to make the BitAssets they now hold available for a liquidity pool used to create substantial buy and sell walls at the peg.

So what we end up with is more current BTS holders moving their funds onto the DEX and creating BitAssets, which will make us the world's fiat-pegged crypto leader (which earns us attention and is attractive to merchants), we add new BitAsset users, greater liquidity, and a tighter peg.  I think we're making a huge mistake if we don't seriously discuss this concept.

Agreed @tbone. BSIP needed. Let's git'r done. Once live, you have our votes.
@Empirical1.2

438
When I try to import my wallet, it asks me for pin code. What is this? I did not set up no pin code.

yeah, i'm thinking of changing that, and just stick with the passphrase standard.
keep in mind, mobile wallets should be thought of as hot wallets, don't use a hot wallet for your net worth, just use it for local trades. it's best to register a separate account just for your mobile stuff. mobile wallets are great for meetup groups and soon points of sale too :)

439

I re-installed and got an error message again.Wrote it down this time:

Quote
The connection to the server was unsuccessful. (file:///android_asset/www/index.html)

hmm, looks like a net issue. in v1.2 we are adding a feature in the settings screen that allows you to set a different wss address.
for now, turn off mobile data and just use wifi. we need to see why the connection was unsuccessful.. mobile connection? your local wifi/isp issue? websockets are blocked? a specific port range is blocked? if that doesn't connect you to the network, then this must be something deeper than just your net connection.

440
hey could i get our Android wallet (https://play.google.com/store/apps/details?id=de.bitsharesmunich.wallet) listed on this page?? https://bitshares.org/download/ - from what i hear, IOS will take a couple of months to be approved by Apple, but at least we can get the android wallet posted there.. not sure who to ask
The mobile wallet is a 3rd party software .. I'd be happy to add a link to the bts-munich page and let people know that you have a mobile wallet ..
But we need to make very clear somehow that this piece of software is provided by bts-munich and not bitshares.org ..

Do you have a distinct page for it already?

Cool, I'll try to get a new btsmuc page up this week then that you can link to, thanx @xeroc :)

441
General Discussion / Re: Potential BitShares Road Map for 2016
« on: March 06, 2016, 09:43:09 am »
I'd like to know what @ccedk @Stan @Riverhead @onceuponatime and @bytemaster think of that yield harvesting proposal.
https://bitsharestalk.org/index.php/topic,21597.0.html
 
Like I mentioned @tbone -if it brings liquidity to bitEUR, bitCNY and bitUSD, as well as tightening those spreads then I am all for it
...especially since this is just a 6-month trial.
 
The poll suggests that stakeholders are in favor of this too, so why not give it a green light?
 
BSIP needed @Empirical1.2 please. Unless one of the 5 folks above has a good reason not to try this out, then I will support this.

442
thanx guys :)
 
hey could i get our Android wallet (https://play.google.com/store/apps/details?id=de.bitsharesmunich.wallet) listed on this page?? https://bitshares.org/download/ - from what i hear, IOS will take a couple of months to be approved by Apple, but at least we can get the android wallet posted there.. not sure who to ask

443
hey could i get our Android wallet (https://play.google.com/store/apps/details?id=de.bitsharesmunich.wallet) listed on this page?? https://bitshares.org/download/ - from what i hear, IOS will take a couple of months to be approved by Apple, but at least we can get the android wallet posted there.. not sure who to ask

444
General Discussion / Re: Bitshares price discussion
« on: March 06, 2016, 06:42:15 am »
Like they say, "Every dog has its day".  If we focus on actions that bring true value to bts, that day will come sooner.

 +5% +5%

445
Recent Activity should stay where it is now, at the top.
Move Overview section down a bit.
Insert the 7 Explore tiles right there above where Overview was sitting.
Remove the Explore link from the main menu.
Now, there are less clicks to get to what you might want to explore.

446
General Discussion / Re: Potential BitShares Road Map for 2016
« on: March 06, 2016, 06:27:13 am »

This really is quite a smart idea.  It will do what we need right now to help bootstrap BitAssets.  I don't know what we're waiting for.  Pretty soon it will be too late.  @kenCode, I haven't seen you chime in on this once, yet it's YOUR hard work on OpenPOS that is about to be DOA considering that our BitAsset markets are themselves D-E-A-D.  Why are you remaining silent?  Are you not counting on BitAssets?  Do you figure you'll be fine either way considering you support other currencies?  I'm baffled.
tldr, and way too much work being done and products being built to have to constantly check every thread on this damn toxic forum. sum it up for me, please. is someone trying to destroy our core product again? wtf

@kenCode, no one is trying to destroy Bitshares (that I know of).  But our BitAssets are dead until we bootstrap them, which means we have no meaningful BitAssets user base, so you likely won't get more than a tiny handful of merchants to use your POS system.  So why even bother? 

Luckily @Empirical1.2 has been persistent in advancing a very smart idea that would take BTS off the exchanges, get BitUSD, BitCNY and BitEUR into the hands of a large number of people, make our BitAssets by far the world's leading fiat-pegged crypto, and pave the way for BitAsset holders to voluntarily participate in liquidity pools which, in conjunction with other measures, would lead to tremendous liquidity and a nice tight peg.  This would make the DEX much more useful, which would attract users, further adding to liquidity.  This would also make your POS attractive to merchants, which would further perpetuate the virtuous cycle. 

All we need to do is jump start this process.  We need to prime the pump, so to speak.  It will not happen on its own.  We are running out of time.  And unfortunately this community is asleep.  Respected contributors are not paying attention.  Some appear to have egos that prevent them from TRULY supporting any ideas but their own.  Let's see how far this gets us.  I can tell you I am personally near the end of my rope.  I will not sit here and watch while one of the biggest opportunities in crypto gets squandered.

@tbone If bitassets become way more liquid with tighter spreads, then call me a supporter (URL of Empirical's BSIP?). Customers will love that too when paying at the cash register since they will pay way less money in fees. Just fyi, merchants pay nothing. Merchants just download the free POS app and then stick the "Smartcoins accepted here" sticker in the window. The rewards card features in the POS gives them even more incentive to use our apps.

447
Technical Support / Re: Change "TRADE" & "TRANSFER" to "DEX" & "SEND"
« on: March 05, 2016, 06:52:08 pm »
Maybe a universal Search Button would be even better. then we could get rid of the assets & accounts buttons
Type in what you want and it lists you all assets, accounts, transactions etc. that match in an easy and readable way.

Great idea! Can you please make a thread about that so in plain english all cultures can picture what you are envisioning?
I love it!

448
Technical Support / Re: Change "TRADE" & "TRANSFER" to "DEX" & "SEND"
« on: March 05, 2016, 04:37:34 pm »
@btswolf - I love it!
 
Put the explore stuff right there at the top of the dashboard. Then accounts and recent activity below that. so we will have the navigational arrows top left corner, then dashboard, exchange and send.
 
nice and clean and less clicks too, beautiful! :)
 
edit: actually, just move the accounts Overview down so the 7 Explore tiles can fit just above there. Then, the Recent Activity can stay where it is, stretching from the top of the window to the bottom, as it is now.

449
Technical Support / Change "TRADE" & "TRANSFER" to "EXCHANGE" & "SEND"
« on: March 05, 2016, 09:12:32 am »
RE: https://github.com/cryptonomex/graphene-ui/issues/761
 
I am not a Trader, and sometimes in my old age (nearing age 50) looking up there at the menu across the top and I see "TRADE" and "TRANSFER" (especially having the same first letter), I think it would be better #1 for brand recognition if we use the word EXCHANGE instead of TRADE, and #2 use SEND instead of the word TRANSFER.
 
Everybody knows what Send and Receive means (we use those terms in our POS and mobile wallets too). Send and Receive are also universally translate-able (into the 44 languages that we have implemented).
 
DEX is just an awesome word that screams what it is that we are most capable at.
 
EDIT: i changed the word DEX to EXCHANGE

450
General Discussion / Re: Potential BitShares Road Map for 2016
« on: March 05, 2016, 06:21:11 am »
If the largest banks can achieve deposits of over $1 trillion dollars with no meaningful interest, how many deposits could BitShares attract and what would that mean for the value of the bank?

Road Map

1. Lower Forced settlement to 95%
2. 2% BTS per annum directed to BitUSD. 
(With a yield subsidy many BTS Shareholders will yield harvest creating millions of BitUSD.)
3. Spend $200 a day incentivizing $100 000 of liquidity.
(For 0.2% interest per day  many BTS Shareholders send a small portion of their BitUSD to a liquidity pool where it's sold for $1.01 and bought back at $0.99)

Customers can buy this BitUSD from a bridge for fiat/BTC and save/spend it from a basic account & don't need to understand/see the DEX...

-------------------------------------------------------------------------------
Mr. Man In Street Account

BitUSD Balance:   $888             Buy BitUSD $1:01         Sell BitUSD $0.99
Current Yield:        4.6%

Buy/Sell with Bitcoin/Bank/Card via our trusted partners.

Visit Exchange (Advanced)
-----------------------------------------------------------------------------------------------

Their new BTS (For BitUSD) demand raises the BTS price incentivizing more people to short, possibly with some of the dilution being directed their too. Shareholders/liquidity pool will buy from them to replenish their position.

The yield subsidy is key imo to achieving a better result faster and it's largely self funding https://bitsharestalk.org/index.php/topic,21641.0.html
(By the time the yield subsidy is removed, banks will be charging negative interest well below -1%. So no NIRP will make private, zero yield BitUSD seem like a treat.)

i like it, but what about making the solution more general and coded into the smartcoins --fees from each smartcoin exchange go to yield on those smartcoins. that way we're not picking a winner (letting the market decide) and the yield funding process is perpetually self-sustaining. picking any fixed dollar amount from the general pool runs the risk of being the wrong amount and potentially cannibalizes other worker projects that could be funded. it makes more sense to me for every smartcoin to have the potential for yield, the amount varying by popularity of that market.

That's a good idea for when Smartcoin adoption plateaus or reaches maturity because at that point it wouldn't make sense to direct a percentage of BTS to BitAsset yield because it wouldn't be offset by equal or greater demand for BTS and so we would be losing value by subsidizing yield.

However if you fail to direct a percentage of BTS to BitUSD/Other Yield now you may lose the SmartCoin race because...

All else being equal would you rather hold a BitUSD with good yield or a BitUSD with no yield?

How much would it cost a competitor to offer yield?  Nothing.
(For the duration that their SmartCoins in circulation were increasing annually by a greater amount than the cost of the yield.)



Example: Let's say competitor ABC is identical to BTS. They have  a $12 million valuation and ABC is diluting by 2% a year or $20 000 a month and directing that to ABCUSD Yield. That would mean they are able to offer circa +5%  on up to $5 million of ABCUSD.

All else being equal, most customers would presumably choose the crypto USD with yield. So the next $5 million of crypto USD demand will go to ABCUSD not BitUSD. This creates up to $5 million of ABC demand which more than offsets the $200 000 worth of annual ABC sell pressure.  Until new ABC demand is less than the cost to ABC of subsidizing yield, they will grow in value and grow their ABCUSD. (As ABC grows in value the dollar amount of the %  directed to yield will also increase allowing them to attract even more crypto USD demand. Also the % they will need to dilute at a higher valuation to fund development will be much lower than the % BTS needs to dilute to fund the same development.)

ABC as the market leader will then also bootstrap because merchants will see they have millions of ABCUSD with thousands of holders and merchants will want to sell their products and services for ABCUSD much the same way 100 000+ merchants accept BTC but a lot less accept other cryptos like BTS which currently serve a much smaller market. This will create a situation where all else is no longer equal. ABCUSD even without yield at that stage would be superior to BitUSD because it is the most established, known, popular and most importantly has Utility.

Therefore I believe you have to take this approach of giving some of that early demand back to the customer or you will lose to a competitor that does.

This really is quite a smart idea.  It will do what we need right now to help bootstrap BitAssets.  I don't know what we're waiting for.  Pretty soon it will be too late.  @kenCode, I haven't seen you chime in on this once, yet it's YOUR hard work on OpenPOS that is about to be DOA considering that our BitAsset markets are themselves D-E-A-D.  Why are you remaining silent?  Are you not counting on BitAssets?  Do you figure you'll be fine either way considering you support other currencies?  I'm baffled.
tldr, and way too much work being done and products being built to have to constantly check every thread on this damn toxic forum. sum it up for me, please. is someone trying to destroy our core product again? wtf

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