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Messages - bitmarket

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1
General Discussion / Re: Prism
« on: June 16, 2017, 02:12:09 pm »
I think this would be a cool feature for Bitshares, and it would tie in nicely with the Bitshares DEX and Bitshares' overall "business plan" of offering financial services.  I don't think that it would be something that would be too hard to implement too:

Create a new smartcoin asset class called "prisms" and allow them to be created much cheaper than normal smartcoins/UIAs.

Since the price feeds already exist, it would be easy to get the value of each prism without having to publish a price feed for each and every random prism that was created. For instance, the price feed for Bitcoin, Gold, and USD could be used as-is in an infinite amount of prisms as long as the prism's contents were published on the blockchain like:

Prism1 has 90% bitcoin, 5% gold, and 5% USD
Prism2 has 10% Bitcoin, 80% gold, and 10% USD
... etc.

The same price feeds that already exist can be used to calculate each prism's value autonomously because the values and proportions of each asset in the Prisms are known to all nodes.

Then, separate Prisms from the rest of the Smartcoins/UIAs on the DEX under their own tab or page and allow Bitshares shareholders to be the counterparty of any Prism they want. Just like with Shapeshift's prisms, people can go short or long on any Prism that someone has created, thus people can "copy" the portfolio of seasoned investors or popular well performing portfolios or bet that Bitshares will outperform the Prism.

This would be much more decentralized than the way Shapeshift is doing it, as they are the one and only counterparty to all Prisms that are created. The smart contracts they run their Prisms through are a smoke screen so they can label a centralized service as being decentralized. Furthermore, since everything is done autonomously, I think that Bitshares could kill Prism on the fee aspect of things.

I dont think there are any changes to be made at the protocol level. This could all be done with a GUI

2

In the pres you showed a graph that bitcny had taken off  lately.   Is there a website or block explorer type site I can see that data?

Coinmarketcap shows it quite dramatically.

Thanks biophil.   also very interesting to see the price of bitUSD overtime.   With few exceptions it stayed in the +-10% range

3
Hi Stan,

In the pres you showed a graph that bitcny had taken off  lately.   Is there a website or block explorer type site I can see that data?

4
why are steemit links always broken?   I couldnt watch it.... Even though I think I saw it live.

5
General Discussion / Re: Prism
« on: May 31, 2017, 11:58:05 pm »
Is there anyway to make money off of it other than just being a bitshares stakeholder?

6
General Discussion / Re: Prism
« on: May 31, 2017, 09:05:41 pm »
Thanks.  I had a kid.  Put me out of action for a few years.

7
General Discussion / Prism
« on: May 31, 2017, 08:46:06 pm »
I just saw a video on ErikVorhees new program Prism.

Is it just me or would it be way better on the bitshares network?

8
General Discussion / Re: Introducing Cryptonomex International (CNI)
« on: February 22, 2016, 11:20:27 pm »
Exciting stuff.

9
General Discussion / Re: Sovereign Man
« on: October 23, 2015, 09:09:22 pm »
In order to get the sale the big company must know all the details.  They will not sign off on something they do not understand.  You cant say... Hey sign this... I will teach you about a cool concept that is openly available online and if you choose to use it it you pay me 3% for telling you about it.

That does not happen.

What happens is you teach them about it.  You get them interested, you get them to want to do it.  then you offer a service to help them get it done.   And if you charge to much or no longer provide any value they will cut you out and go around you.

If the tech company had a sales team, then they could have a contract off chain, but that is different.

But having said that I recall why the 2-tier system has a weakness.   Big company will just sign up a 2nd account for $100 and get their own 2nd tier. That was also why I suggested several pricing tiers based on volume.  That would eliminate this problem largely.   But on the down side it does add complications.

10
General Discussion / Re: Let's Lower Trading Fee
« on: October 23, 2015, 01:54:46 am »
Bitshares is a very complicated product.  the more places you can be exactly like what people are used to the better.

Merchants are used to pay 35 cents + a % then charge them a touch less and their mind can handle it.
Traders are used to placing orders for free and paying big on filled trades, then approximate that closely.
Users are not used to seeing fees, but merchants are, display the fees to the receiver and not the sender.

All of these step and many others reduce the barriers to entry for new people.  and not just by a little but by a lot.  When these things are not as the user expected, they begin asking questions... It is a rabbit hole that sucks balls for the sales rep trying to sell it.

As a sales person all i want to be able to say is to a merchant.
 So you hate banks and credit cards Mr Merchant?
 Yes.
Would you like to be able to cut them and keep the money you used to pay them?
Yes.
What if told you that not only could you keep the merchant fees you used to pay at this store, but if you introduce this to your customers and they use this technology at other stores you would get the merchant fees that merchant used to pay for the life of that customer forever and ever. In effect you become Visa, would that be exciting?
Yes.
Well here is what I need you to do. I need you to invest about 20 minutes learning how this works. Then we can go ahead and get you an account and you will be set up to receive payments can we do that now?
Yes.
In the next 20 minutes I explain the more I have to explain the more chance I lose the sale.  Make everything exactly what he is used to. And where it is different make it simpler.

To a trader.
Who do you trade with now?
XYZ.
I know a lot of traders and they many are doing quite well.  However I know many of them never quite feel safe after MtGox.
That is a risk we take, but its working out for now.
IF I could show you a new trading technology that looked, felt, and was similar to what you are using except it had no counterparty risk would you be interested?
Yes.
As it is a new technology the liquidity is still growing, but on the upside an experienced trader can fleece a lot of rookies there too.  but on the upside. they have a very cool Referal system and you can earn about $100 for every person you introduce to the platform, so I suspect it will grow pretty quick.  Do you want to take a look.
For sure.

Do either of these conversation sound remotely similar to anything any of us has experienced when selling bitshares?  I bet the answer is no.  And the reason why is it is so complicated.  Forget the crypto world. Lets look at the masses.  Give them what they are used to but a bit better an we will crush it.


11
General Discussion / Re: Help educate Charles on Bitshares 2
« on: October 22, 2015, 07:02:10 am »
Charles, to be honest I don't think I have the skills to answer 5% of those questions, but they appear to be questions that would apply to any blockchain.

Just wanted to check in to see if you were aware of the unique aspects of bitshares?  1. Referal program 2. scheduled payments 3.on-chain proposed transactions, etc

12
General Discussion / Re: Lowering Transfer Fees
« on: October 22, 2015, 06:45:02 am »
This is mind blowing.  You can't judge the fees without the referral system working for several months. No other coin has a mechanism to pay merchants to go to the trouble of educating their user base to pay them in crypto.  We do.  That is unique and it is a chance (not a guarantee) that it we succeed where all other alts have failed.

Geo-pricing is just another level of confusion to add to the worlds most complicated product.  Lets not shall we.

13
General Discussion / Re: Sovereign Man
« on: October 21, 2015, 07:26:01 am »
Has any one heard of Sovereign Man?  They have 100,000 subscribers...

Perhaps a qualified person from this community can reach out to this group? 

http://www.sovereignman.com/
[email protected]

I am one of those subscribers.  :)

They specialize in techniques and tools for internationalizing your life.  BitShares would be an excellent tool in their locker, although it might take some cold-call skills that exceed my own abilities to make it happen.  I'll forward this to four guys you know who have such skills and see which one lands the 100,000 members referral fee first. 

Feel free to engage if you have special connections with Doug Casey's organization.

If we could make it really easy for him to do so...i think i could get jim willie to accept our crypto to subscribe to his newsletter.  If we get that done...it wont be nearly as difficult to get others in that demographic to join up.

Wouldn't it be in his self interest to get the referral credit, at least in theory?

Nope... because if i get them onboard, all they are going to do is buy the premium membership and id gain 80 dollars.

Then you're not selling them the right deal!  Don't teach them how to refer their customers, teach them how to host a Cryptonomex product like Exchange-in-a-Box and get a percentage of our deal.

You need to think bigger, Pinky!  :)

can you explain further Stan

14
General Discussion / Re: Sovereign Man
« on: October 19, 2015, 10:52:54 pm »
Has any one heard of Sovereign Man?  They have 100,000 subscribers...
I'll forward this to four guys you know who have such skills and see which one lands the 100,000 members referral fee first. 

By the way Stan.  The guys who lands Sovereign Man or little niche site with 5 customers gets the exact same $80.  Sovereign man gets 100k x $80, not the Bitshares enthusiast who landed the big fish. That is why when I designed this it was a two tier system. There is zero incentive to land big fish through this referral system. There is incentive in bitshares appreciation but that was there before.

The two tier system would definitely be great if it could be implemented well.  If I remember right, it wasn't possible to keep it from being gamed, although I'm not sure who it affected negatively.

I believe it was the concern of looking like a pyramid was the reason to not. 

15
General Discussion / Re: Sovereign Man
« on: October 19, 2015, 05:56:44 pm »
Has any one heard of Sovereign Man?  They have 100,000 subscribers...
I'll forward this to four guys you know who have such skills and see which one lands the 100,000 members referral fee first. 

By the way Stan.  The guys who lands Sovereign Man or little niche site with 5 customers gets the exact same $80.  Sovereign man gets 100k x $80, not the Bitshares enthusiast who landed the big fish. That is why when I designed this it was a two tier system. There is zero incentive to land big fish through this referral system. There is incentive in bitshares appreciation but that was there before.

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