Show Posts

This section allows you to view all posts made by this member. Note that you can only see posts made in areas you currently have access to.


Messages - pariah99

Pages: [1] 2 3 4 5
1
Wouldn't people just set up multiple deposit privkeys?  You don't need to reinvent the wheel on PoW in order to make this coin a success.

I would think that any kind of PoW algorithm would eventually tend towards centralization; the only thing that you can really do is pick a more obscure algorithm so that the current farms can't use their ASICs to mine it, then maybe introduce changes to the algorithm via consensus to stay 1 step ahead of newly developed ASICs.

2
General Discussion / Re: Proposed Allocation for Merger
« on: October 21, 2014, 10:02:31 pm »
If you want to cash in your DNS/PTS, you are doing so at a heavy discount due to money leaving those currencies after BM's announcement.  Eventually, it will equilibrate, but I don't see the added need to attach a vesting period.

The only currency transfer that I believe should have a vesting period are *definitely* AGS and probably VOTE, since it's not liquid yet.

3
General Discussion / Re: Proposed Allocation for Merger
« on: October 21, 2014, 05:50:37 pm »
Does the 2 year vesting period include all of the currencies, or just the diluents? (i.e. everything or just AGS/PTS/DNS/VOTE)

4
I've been poking around the forum looking for a proposed allocation from I3 but all I can find are hypothetical ones which look like they're just there to illustrate the point of the merger (i.e. 80/10/10 BTSX/PTS/AGS one).  I know that you guys are probably still formulating an equitable plan, but when you do can we have a stickied proposal from the management?  Also, how is I3 planning to have us "vote" for the change?  Is it going to be a single hardfork, or are we going to have different delegates who create different chains based on their preferred allocations?

5
General Discussion / Re: VOTE DAC Just Got More Interesting
« on: October 15, 2014, 11:37:23 pm »
If you think about it a system that openly allows you to sell your vote is not as terrible idea as it may sound at first glance. It let's market forces make decisions.
1.The money spent on (mostly negative) political campaigns will find a better use in the pocket of a voter.
2.Voter participation will start approaching 100%
and many other benefits.

It also creates a whole host of problems.  The purpose of voting is, in theory, to allow the candidate which would benefit the largest proportion of voters to be elected to an office (assuming winner take all system like the US).  The problem with introducing money into the equation is that most people fail to account for the diminishing marginal value of money.  For people who have very little money, the marginal value of money is very high, so you can "buy" their votes for comparatively less than people who are better off.  This leads to all kinds of suboptimal outcomes whereby even rational actors will vote against their own interests.  The reality is far worse, since most people don't understand how to value political platforms, and uninformed voters will follow the red herring of money offered for their votes.

6
Muse/SoundDAC / Re: BitShares Music and/or NOTE logo. Any ideas?
« on: October 13, 2014, 02:56:18 am »
I don't think that this thread is meant to necessarily come up with a finalized logo, just brainstorm ideas.

My thing was something I whipped up in about 30 minutes.  I'm not a graphics designer, I teach windsurfing :/

7
Muse/SoundDAC / Re: BitShares Music and/or NOTE logo. Any ideas?
« on: October 13, 2014, 01:56:05 am »
I did a thing:


8
Technical Support / Re: !!! Stupid Questions Thread !!!
« on: October 10, 2014, 01:38:44 pm »
So OS X Yosemite is coming very soon.  Typically, when a new OS X comes out, I back up all of my data and do a clean install to get rid of any lingering bugs.  If I do this, is there going to be a problem recovering my wallet, assuming that I have been backing it up regularly?

9
The strategy we use is called "piggybacking". That means we try to identify a market of early adopters that need the product/service right now and focus on catering to them. If the product "catches" and successfully establishes a solid niche userbase, it will organically spread to other areas (think vertical growth vs. horizontal growth). The niche we originally focused on acts as an advertisement for the utility of the product, allowing it to grow horizontally and eventually it reaches a mainstream audience all on its own.

If I've been understanding the marketing talk correctly, I think that the niche that the team is pursuing is the people who are interested in getting into the cryptocurrency market but want to be able to protect themselves against volatility.  That's why I'm assuming they're focused on marketing bitUSD rather than directly marketing BTSX.

10
Can we snapshot other dacs instead of just pts/ags?
The social consensus is that a min of 10% goes to both ags & pts, but why not take a snapshot of btsx and other trusted bitshares dacs? It would seriously help distribution and also bring a lot more users to new dacs.

I would caution against this.  I realize this is kind of a slippery slope argument - If we keep snapshotting one dac after another, it's going to turn into a situation very similar to a ponzi scheme, where the true value is always a DAC or two down the line.

AGS and PTS were explicitly advertised as being vehicles for DAC snapshots, so there's no problem with those, but BTSX was never advertised as such.

11
Is there a Plan B?   And im hoping you guys are not going all in with this plan.

He said that they are working with multiple other entities to secure a pathway to be able to buy bitUSD directly as well as to sell bitUSD for fiat; all the eggs are not in one basket.

12
Muse/SoundDAC / Re: PTS snapshot date. Ensure you have Notes at launch
« on: October 06, 2014, 06:05:32 am »
Just some quick napkin math that I did:

5 million daily x 60 days = 300 million NOTES presale

Presale is 20%, so:

300 million / 0.20 = 1.5 billion (1500 million) NOTES total

AGS/PTS each get 35% as stakeholders, so 525 million NOTES each.

You can calculate the amount you would get based on angelshares:

525 million * (your AGS) / (1,000,000) (2,000,000) = your angelshare NOTES

Edit: Forgot that there were 2mil AGS :P  Thanks clayop

13
General Discussion / Re: DPOS thought
« on: October 05, 2014, 05:13:28 pm »
I don't think btsx is a Decentralized Autonomous Anything (DAA) at the moment. btsx is centralized at the moment and the rules are being changed all the time. Right now I would consider btsx to be in an open beta phase so rules and other things can be change. But when it is finally finished it will be a DAC. All the rules will be final and the cap will be unchangeable.

How is it centralized?  In order for the official chain to fork, there has to be a majority of people voting for delegates which agree to fork.  If delegates do not agree to the fork, they can say so and people can vote for them.  Sure, anybody can change the ruleset for the currency, but it is up to the delegates to implement the change.

14
Technical Support / Re: I donated AGS in may, how can I get my shares?
« on: October 05, 2014, 04:41:01 am »
I'm assuming you're talking about BTSX, but the procedure is similar for keyID/DNS and probably for bitMusic/NOTES.

In any case, just open up the client software, log in and create an account (doesn't need to be a registered name).  Next, goto the "keys" tab for the account and choose the "import keys from wallet" sub-tab.  There's a file selection menu where you can select the wallet from which you donated to AGS (either BTC or PTS).  Put in the password for the wallet, and the client will verify your private key and deposit the corresponding amount into that account.

15
General Discussion / Re: DPOS thought
« on: October 05, 2014, 03:16:27 am »
While useful as consensus mechanism for a DAC this thread has revealed that DPOS may be flawed for a crypto-currency use case. https://bitsharestalk.org/index.php?topic=9603.0

DPOS would allow users to come to a consensus about changing the rules on which the crypto-currency itself was founded.

This isn't any different from other blockchains.  If it's POW, then a group of miners could reach a consensus and fork the chain with a new rule.  If it's POS, then a group of coinholders could do the same.  It's impossible for any kind of a monetary system to protect the minority against the "tyranny of the majority," but that's part of what gives currency value - because by using the system you are giving up your right to make the monetary policy whatever you want it to be.

I suppose that you could have a different cryptocurrency for each person in existence, each with its own policies according to the preferences of its creator; however, that fundamentally defeats the purpose of what currency is supposed to be: A social contract by which people transmit value.

Pages: [1] 2 3 4 5