Quote from: tonyk on September 25, 2014, 08:47:43 AM

Quote from: bitmarket on September 25, 2014, 01:02:36 AM
Hey team,

So I am thinking the next concept I will introduce via video to the bitcoin community is DAC's. Profitable Crypto's vs non-profitable crypto's.   Again this will not be a ram it down your throat btsx is awesome video.

It will be a bitcoin and blockchain are awesome because it allows DAC's.

What is a headline that would make a devout bitcoiner click on to learn about this topic?

Thanks for suggestions in advance.

M

While, I think you are far better than me in this kind of stuff.

here is what I will use:

"BTC is it profitable by itself?"
"BTC is actually a company... Should we make it profitable?"

"Making money with Bitcoin. Few novel ideas."
"Sitting DACs, aka BTC making money for you"

The second suggestion. +5%


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Quote from: GaltReport on September 24, 2014, 05:11:17 PM

Quote from: JordanLee on September 24, 2014, 04:42:01 PM

Quote from: bytemaster on September 24, 2014, 04:13:45 PM
If NuShares placed their Shares as collateral against NuBits then you would have BitShares assuming NuShares were a freely traded crypto and the interest rate voted on by NuShare holders was the interest rate PAID by the shorts to the longs.   

What happens if the collateral loses value? This approach introduces a serious default risk. As it is, the viability of NuBits does not depend on maintaining the value of NuShares.

I think if their is no collateral their is no value to maintain. :)

Agreed - but also the nubits system produces no value... 

Unlike Btsx, which is an exchange with revenues (value creation) as well as a 200% collateralized bank.


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Quote from: JordanLee on September 24, 2014, 04:42:01 PM

Quote from: bytemaster on September 24, 2014, 04:13:45 PM
If NuShares placed their Shares as collateral against NuBits then you would have BitShares assuming NuShares were a freely traded crypto and the interest rate voted on by NuShare holders was the interest rate PAID by the shorts to the longs.   

What happens if the collateral loses value? This approach introduces a serious default risk. As it is, the viability of NuBits does not depend on maintaining the value of NuShares.

I appreciate you two duking it out publicly, but schedule a closed door session, both parties will benefit


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Quote from: xeroc on September 24, 2014, 01:54:18 PM

Quote from: fussyhands on September 24, 2014, 01:17:52 PM
That's awesome.  How long have they been going now?  How is BitGold doing?

bitUSD was first .. and is up for some few weeks now
bitCNY was second as is up for 2 or 3 weeks AFAIK
bitBTC is relatively new with just over 2 weeks
and bitGLD will probably soon launch. checkout http://www.bitsharesblocks.com/assets

Quote
Also, how frequently is collateral assessed/collected.  It is done every block (every 15 seconds)?  If so, it would seem that the price swing would have to be extremely severe to wipe out the collateral before the position is covered and closed.  That would increase my confidence that this will keep working in the long run...

market is executed every block .. (10 seconds, btw) .. not sure if there is a 1 block delay though ..
[/quote]

Is the market not executed after 51 delegate signatures, but rather 101 signatures?

If 51 delegates is all that is required, wouldn't market executions occur every 5 seconds?


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Quote from: shadowbroker2 on September 23, 2014, 10:40:04 PM

Quote from: tonyk on September 23, 2014, 08:55:57 PM

Quote from: shadowbroker2 on September 23, 2014, 08:44:32 PM

Quote from: nedscott on September 23, 2014, 08:34:27 PM

Quote from: bytemaster on September 23, 2014, 07:41:43 PM
From what I can tell they use voting to set interest rates...

They are also thinking of being closed source because they are worried we might copy them (due to my comments on this thread).

They can't be closed source and be successful


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NuBits was never intended to be close sourced forever. It will become open source in time.

Quote
With current scheme they cannot be successful period. Make themselves rich? maybe.

Do you think you could post in detail why it will not work? It seems NBT sales are doing very well at the moment with very little exposure/coverage. It's been out for 6 hours and you're already 100% sure it's going to fail?

It is long explanation - in short they issue money based on a decision of the Nushare holders, and  enforce the peg on centralized exchanges. Support for the peg is also provided by giving interest. The decision if and how much interest is to be paid is done by vote of the NuShares holders. NuShares are distributed to 'trusted parties', read insider clique.

It is the same as you and me saying - here are some dollars (NuBits), we promise to find you people to always buy your NuBits at $1 a piece. If we happen to sell more NuBits than necessary, we will vote and give you some interest...
I collect outrageous ideas (and IPOs ideas) in crypto space. One day I will publish them as an entertaining reading - NuBit/Nushares will make one of the better chapters....

Anyone want to try with a real response? This type of response is incredibly unattractive to new people like myself. BTSX is highly unprofessional if this is an example of how their community thinks.

Liondani just highlighted an area of economic and protocol concern, others mentioned the centralization, which can be used to manipulate the system

Others might point to the faceless development team of nubits, yet others will doubt the system further due to the faceless investors and their undocumented portions of ownership, which has to lower confidence and trust- ability of the system, the root issue again being centralization

edit: words/grammar

Btsx does not have these issues


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Quote from: bytemaster on September 23, 2014, 07:41:43 PM
From what I can tell they use voting to set interest rates...

They are also thinking of being closed source because they are worried we might copy them (due to my comments on this thread).

They can't be closed source and be successful


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Voted.


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looks like an elevator on its last wire


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I was introduced to Bitcoin by Yahoo! News, how about everyone else?


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Is there a maximum supply for BitUSD in Btsx?


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Any word on these? Want to pick at least one up before the conference..


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