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Messages - adolf512

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General Discussion / Re: Things that needs to be fixed with bitshares
« on: January 29, 2017, 11:39:55 pm »
Actually having names instead of random 64-bit symbols have privacy disadvantages, i really dislike the idea of memberships, getting rewarded for recruiting new members, etc. The referral system(80% back from recruiting one new member) is too similar to MLM scams and this is not a good thing, a lot of people(me including) does not like anything that appears to be a pyramid scheme, even if it is just one layers it is some issues with it, i do not want 80% of the fees i pay to support that.

With bitcoin it is very easy to generate new addresses, cryptonote coins are a bit more complicated but still no major issue and there is also better anonymity. I am trying really hard to do a fundamental analysis for bitshares but i cannot get a clear picture, i cannot see sny big flaw in bitshares which is good but i still do not really like it.

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General Discussion / Re: Things that needs to be fixed with bitshares imo
« on: January 28, 2017, 03:58:28 pm »
Minimum collateral  for USD is 175%. Just use this GUI https://bitshares.org/download
Tanks for the correction. I am testing the wallet now, not sure if i like it to be honest. I prefer simplicity but i am a bit different from most people, i like arch-linux and dislike the windows GUI.

I noticed now that you need to be a member(not basic) to choose a name consisting only of letters, i picked my name(adolf512) and i am pretty happy with that. I guess most people prefer being able to use a simply account name instead of 3NZReAMJeukXeuUmkZhsANa9QYvy7JxuYk (example of btc adress), cryptonote addresses are even worse.

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General Discussion / Things that needs to be fixed with bitshares
« on: January 28, 2017, 01:26:15 pm »
Flaws
-not being able to do anonymous transactions including messages.
-the referral program is flawed*
-175% minimum collateral to create bitUSD is too high, 70% should be enough(initially 100%).
-bit-assets does not seam to work that well in general.

*my proposal was to allow members of the program to do free transactions until they have got back 100% of what they paid but not give members any money from transaction fees, lower the cost of membership to 5000BTS and have a referral reward of 4000BTS, you will be allowed to refer youself once you are a lifetime member(costs you 1000BTS and gives you 5000BTS reserved to transaction fees).

the biggest issue is of course lack of network effect and this will be the most difficult challenge to overcome, i do believe that a technically good coin will get more and more users with time, especially if it offers nice features such as anonynous communication.

I consider going all in, possibly even on margin but i just need to make sure i am not wrong this time. I have seen many currencies i believed in fail hard, just being innovative is not enough, peercoin failed hard.

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That would be awesome, being able to send anonynous messages would be a very nice feature too (xdn and sdc supports that).

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I just got an idea for this referral program, why not just offer a number of free transactions (equal to the cost) for members. Here is my idea:

-you buy a free transaction package for 5000 bitshares
-for each transaction package you buy you are allowed to refer 10 members.
-you get 4000 bitshares for each member you refer.

If you want free transactions for multiple accounts you could just refer yourself and that would cost 1000bts. Still no matter how a such program is implemented there will always be 'issues' with referral programs such as one existing members paying 2000bts for each referral(still making 2000bts), that might actually not be a bad thing though.

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General Discussion / Re: Incentivize SmartCoin collateralization
« on: January 18, 2017, 11:54:31 am »
The best incentive for shorters is low collateral.
+5% yea, i see no need for having collateral requirement above 50%(initial requirement of maybe 100%).

Poloniex the requirement is initially 40% and liquidation at 20% and it works fine.

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General Discussion / Re: [vote] Upgrade Forum Software
« on: January 18, 2017, 09:33:51 am »
My forum uses phpbb, it's ok but i fail to see any good reasons to switch to it becuase prophpbb offeres free hosting for that software.

I will not caste a dunning-kruger vote for this poll.

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It appears steem has a good system for the distribution of coins, users get paid for blogging and this creates a network effecg, unfortunatily the coin itself is not very impressive.

In order for a coin to be successfull the tech behind it needs to be good and you also need a big enough number of users to be a networ effect.

Referral program has of course worked in the past, it nay mot be a good method to distribute coins but it can be a very effective way to advertise a product, people making money convincing friends to join. A guy contacted me once to sell me some overpriced fruit juice, he did a poor job but that didn't matter, i would not have joined that scam anyway.

This is a real decentralized ponzi: https://bitcointalk.org/index.php?topic=1415365.0

It's not mulit-level. You only get fees from person you refer. You don't get anything from the people that your referrers refer.
From the website

When an Basic Account pays $100 to become a Lifetime Member, $50 is paid to their Referrer, $30 is paid to the nearest Lifetime Member, and $20 is paid to the Network. After this point the Lifetime Member becomes its own referrer and nearest Lifetime Member and its prior Referrers no longer get any revenue from this user.

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I like the idea if DPOS but this membership bullshit makes me sick, if you want many users the fees should be as low as possible. I actually think it is a good idea to use via inflation subsidize the network allowing for low fees and yes that can continue forever even with limited supply https://bitcointalk.org/index.php?topic=1630098.0

"smart mining" is probably the best way to distribte coins during the PoW phase(you mine when your GPU/CPU isn't fully used). With DPOS new coins can be distributed in other creative ways but i do not have any good suggestion for this.

I would suggest getting a userbase by offering anonynous transactions and messages(better anonynity than cryptonote).

edit: it is not really a ponzi scheme but it is still similar to multi-level-marketing scams, you have to pay an entry fee to get in. With this scheme only one person will profit from you joining so it's not about getting in early, it is about getting a lot of people to join this BS program.

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