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Messages - Erlich Bachman

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General Discussion / Re: Steemit's Plan
« on: July 11, 2016, 08:47:17 am »
Such FUD.  And who the hell cares if he owns 110%?!

Nobody who is earning STEEM backed USD or bitUSD, that's for sure.

General Discussion / Re: What bitshares should learn from steem
« on: July 11, 2016, 06:43:36 am »
Bitshares had its prime time too. As I can recall, it passed ripple and became the no.2 highest market cap. To take a long story short, what happened then caused bitshares fell to the market cap of today. I couldn't tell if the same thing will happen to steem, but I strongly feel that we should keep going on the current route, and make bitshares more appealing in more practical use cases, and never look back.

Well stated. I don't think we are going to see real success from market manipulations. Utility and adoption are what have kept Bitcoin in the lead even with all its problems. Tipping point is coming. I honestly don't know if it will ever really make a difference in the way our market cap goes, but at the end of the day there is just one number that really matters... users.

Woah, now hold on there honcho.

I don't care how many users PeerPlays has or grows to.  The only number I care about is profits.

Show me a profitable coin that pays dividends, and then you will see why STEEM is rising (interest payments), and how to shift this Internet bubble into the next paradigm (one of profits).

General Discussion / Re: Steemit's Plan
« on: July 08, 2016, 08:26:58 am »
Why should Dan have dropped shares of his new STEEM DAO onto the Chinese BTS holders who would just continue to down vote his development ideas?

Dan is a dev

He can't do deving when there is no money.

He needed a new community that was supportive of dev funding, or he would not be working on anything.  This is just common sense.

 I for one am glad that he found a community that supports his ideas, and being a cosmopolitan myself, I support many different communities.

BTC, BTS, STEEM, IOTA, WBB, PeerPlays, and all the teams who support these groups.  What communities do you support?

General Discussion / Re: Steemit's Plan
« on: July 08, 2016, 06:04:38 am »

This is life, nobody knows you anything.

BM invented Grapbene, and gave it to BTS investors.   Yeah, he could have gave you some STEEM, but he didn't think that BTS and Brownie Points investors deserved any.  And if your tears are indicative of the sentiment of the average BTS shareholder, then I would have to agree with his decision to refrain from feeding the crybabies.

General Discussion / Re: Steemit's Plan
« on: July 08, 2016, 12:57:42 am »
Where's the beef?!

Dan developed the protocol that supports stealth, bond market, automatic payments, etc. And with such style (speed and scalability).  He never promised you a GUI.  Now, we own the network, but who you think is going to develop it?

Who developed the bitcoin network?  The network owners.  I thought we all knew this history.

And don't forget phase 4:


Me too, but maybe add some color

General Discussion / Re: Why is Bitshares rising in price?
« on: June 30, 2016, 03:39:04 am »
Who cares.

bitUSD price still unchanged.

People here care more about their money than about our technology, and that is the main reason why you are unhappy with the share price.

And the world didn't end?

General Discussion / Re: Imporant! Please Participate!
« on: June 29, 2016, 05:20:05 am »

General Discussion / Re: Bitshares 3.0 - It Is Time
« on: June 28, 2016, 01:36:15 am »
Again, the first step is admitting you have a problem. That is the hardest hurdle. I can see most of you cannot admit/realize that these are all huge problems Bitshares faces. I see a lot of groupthink, which is unfortunate for the future of Bitshares. Don't shoot me- I am the messenger. Unlike most of you, I spend 98% of my time in the greater cryptocurrency community- not sequestered in Bitsharesland and Steemitland. I have conversed and debated with many people that do not use Bitshares over the past 2 years, mainly on the Bitcointalk forums (where I have 3.3k+ posts.) These issues always come up as being the reason why people don't like or use Bitshares. what issues? "Groupthink?"big deal we all agree that POW is wasteful and we hate counterparty risk hence the smartcoin love.  And please tell me that you have never heard a Friday morning discussion where any and all conflicting viewpoints are discussed in real time week after week. Have you met Fuzzy? What Bitshares has is a unique product that is different than the greater crypto group.  You think we suffer from "groupthink" then you need to meet the Ethereum/DAO community man. I'm sorry, but I think that iconoclast is the term you are looking for. Say what you will about how your strategy is working and liquidity will improve (I would refer you to the scoreboard... the value of the BTS token). who exactly are we competing with in the smartcoin market again? I absolutely love this BTS price Say what you will about dPoS (the antagonists will continue to write Bitshares off because of it). So you think that if we had POW and smartcoins, then the bitcoin world would be beating a path to our door, but because we have 2 major mind blowers (dPoS and smartcoins) then nobody believes we exist. That is a valid point, especially after Ethereum just publicly displayed the dark side of hard forking. I tell you what would make people trust dPoS though, is if someone got a bunch of coins stolen, and the BTS was not only unwilling to hard fork to re-secure the funds, but "unable" to.  This is the downside to DPOS: it is "forkable" and because of this, how can we ever claim true immutability.  Ethereum can never claim immutability and even though we may never ever roll back the blockchain, we still "could" based on the mechanisms in place. So in essence, we trust the integrity of our community and most crypto heads don't want to ever have to trust a community, and those who do, are already happy at home in the Ethereum Proof of Vitalik world.  The fact that Dan has let go of his control over this coin to start more projects is the next best thing for BTS immutability than switching to an expensive POW scheme.  Also, is it even possible to achieve our current level of speed and scalability that we have all grown accustomed to with POW? I doubt it. Say what you will about OpenLedger solving all of Bitshares problems (but remember the whole point of a DEX is to eliminate trusted third parties and IOUs). Say what you will about Smartcoins (some people will always prefer to hold/trade the tokens of the real assets).
OK, so not everyone is going to love smartcoins. So?
I am having "deja vu". I gave a similar talk to the Litecoin cryptocurrency community in 2014. At the time, they were #2 on coinmarketcap and at the top of the alt coin food chain. Their problem was that Litecoin lacked any innovation compared to most other newer cryptocurrencies. It was, and still is to this day, being propped up by its network effect. I begged and pleaded that they break rank with Bitcoin (stop copying it code line for code line) and branch out on its own innovative path. Then, Ethereum came along and surpassed Litecoin by a wide margin and it is now valued at over a billion dollars. I knew innovation would eventually win out, as relying on network effects can only get you so far. Two years later, my prediction is starting to take place and Litecoin has reverted to the #4 cryptocurrency on coinmarketcap. Is the same thing going to happen with Bitshares? If it does, then maybe people will start to listen to me when I give "the talk" to a 3rd cryptocurrency community... whoever that may be in the future. lol  :P

Q: What is Bitshares positioning itself to be?a profitable DAO
A: A decentralized cryptocurrency exchange.

Q: Who uses cryptocurrency exchanges?
A: The cryptocurrency community.

In order for a cryptocurrency exchange to be successful, it must have the general support of the cryptocurrency community. At this time, Bitshares does not have the general support of the cryptocurrency community. Who cares? We don't need to dominate the cryptocurrency landscape to be profitable, all we need is a small percentage of the whole, and suddenly, we are not only the world's first DAO, but the world's only profitable DAO.Maybe you all have spent too much time sequestered in this community to realize this, but dPoW is a big reason why a lot of cryptocurrency users have written off Bitshares. It always comes up when anyone mentions Bitshares on Bitcointalk. PoS is considered as being less secure than PoW, and for good reasons (of which I don't care to diving into.) Implementing a PoW hybrid would be a way to appease these types of people in the cryptocurrency community that have written Bitshares off based solely on the fact it is secured by dPoS.

This is true, but again, can we afford to spend money to change our consensus mechanism and bear the performance degradation that comes with such a change just to offer the more security? I would not know how to quantify the potential, but I suspect that Dan could give an accurate answer
You guys also don't seem to get the need for drastic liquidity measures. It is a chicken and egg problem if you continue down the same road, and therefore sufficient liquidity/depth will never be reached. Where Bitshares is headed is a dead end, and someone will come along and eat Bitshares' lunch. That is guaranteed.

Possibly, but our smartcoin competitor you speak of will have 1000 TPS max with 20 second block times and a halving date that will suddenly make all miners unprofitable at the current price, just to theoretically offer a little more security.  Bring em' on I say, I could use a good laugh.  My bitUSD cares not the price of BTS or any crypto to for that matter.
Another reason people don't like the DEX are the inherent weaknesses with Smartcoinswhat? Please elaborate.., and maybe you guys don't get that either? nope, like I said, my bitUSD never loses value ever.Reliance on trusted third parties is not the solution (open ledger, meta exchange, etc), as the point of a DEX is to eliminate trusted third parties. Supernet and B&C Exchange will trade the REAL assets... not smartcoins and not open ledger IOUs. Maybe you all fail to see how this is a huge advantage when it comes to competition against DEXs? open.BTC, meta.BTC, etc, should be a means to an end, not the solution as you guys are hoping it will be. IOUs will always be IOUs, and suffer the inherent shortcomings that all IOUs do.

Then, of course, there is the huge dislike of Larimer & Co. throughout the greater cryptocurrency community.

Of course, haters gonna hate, especially when he warned the Nubits / DAO fanatics about the pitfalls of GROUPTHINK!  They killed Jesus too.  Do you know what percentage of humans are actually honest? About the same percentage of the general crypto community that supports us.  Coincidence?  What DAO would you rather be a part of now?

The DAO?

The only difference currently is that we have a working (but still unprofitable) business model/product

And I'm not even talking about Dan's "DAO DOA" post or his "Nubits peg will break when BTC halves"

Remember his " contract free society" diatribe?

Now even the bitcoin faithful are finding it impossible to convince Bernie's Kids that "code is law"

I think you mean "what did the DAO fail to learn from BitShares"? 

Can't say that we didn't offer experienced advice from a loving big brother. Do a search and you will see what I mean.

no word yet on weather or not Peerplays is going to force the first black swan on our low smartcoin liquidity?


I am working on the Website and currently thinking about the right design structure plus a way how to fund the front end developer. I first want to be 100% sure to get a voter in, because i don´t want to waste 160€ for a empty worker. I do not have spear funds fur such a deal. So before we think about a big rebranding, let us use what we have so far. Refaine our core values and talk to our core target group.

You should have posted this to STEEM.

And for the morons who think that the Steemit posters will lose value of their bitUSD (STEEM backed crypto dollars are the same thing) relative to USD as they go to cash it out on July 5th,  I have to laugh and realize that not even some of the BitShares faithful know that the concept of:

"the  value of 1 bitUSD can always be sold for $1 USD" is true

But for these people who are afraid that the value of bitUSD will fall relative to USD I will do you the favor and do your homework for you:

On July 5th the value of STEEMPOWER will fall as the STEEM backed dollars are pulled out of the system.  Sorry but the concept of smartcoins has been around now for years and when you act like it does not exist, it kind of makes me feel like a genius and realize that if the BitShares locals still have not learned what the heck a "smartcoin" is then...... (do the math)(early adopt much?)

How is the value of the bitUSD (SBD) going to hold it's value during this predictable exodous?  By barring the doors of the STEEMPOWER holders (and taking their money and giving it to the curators). 

Duh.. "smartcoins"  hello.  STEEM is a simplified fork of BitShares not a more complex one (no shorting/margin calls etc).  Wake up class, life is passing you by.


STEEM - It's just a BitShares fundraiser

As far as branding goes.  Let's keep the "BitShares" brand of smartcoins, but since our DEX is so kick ass performancewise, I do believe that we should start calling it:

"The DEX"

It is after all the first and only place that I know of where you can create and trade smartcoins (those things that many around here still fail to admit the existance of!)

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