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Messages - FreeTrade

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1
General Discussion / Re: The Benefits of Proof of Work [BLOG POST]
« on: February 26, 2016, 10:27:14 am »
For anyone who might have missed it, HOdlcoin has been running since the start of the month and it's main features are term deposits, similar to the ideas set out by Dan in his blog post. It also includes interest on every balance, and big bonus interest rates for early adopters. It's quite a simple, elegant fork of the Bitcoin 0.11.2 codebase and it's a 'no moving goalposts' project. Fixes where needed, of course, but no changes to distribution or rewards. No ICO or pre-mine or any of that nonsense.

https://bitcointalk.org/index.php?topic=1317918.0

2
General Discussion / Re: Lessons Learned from Alt Coins
« on: January 09, 2016, 06:55:05 am »
This is a very interesting question, I'm pretty busy for the rest of the weekend, but I'll definitely try to think about this more completely next week. Some very obvious things...

1. POW - It's clear POW or a POW hybrid is the most popular. (Given their success despite massive relative waste.)

2. Distribution - Having distribution that is perceived as very wide and very fair. (This is hard to achieve as sharedrops have shown to always crush price - free money - but other methods might not be wide enough .)

3. Credible Utility or utility prospects - What moves those markets is when a big payment processor or exchange adds them or they develop tools centred around utility. Then of course ideally people do actually start making use of it. (In DGC it was widely used for tipping and sharing, Dash for privacy, BTC gambling and silk road initially etc.)

Auroracoin demonstrated a few concepts at once when it hit a high > $1 Billion

Credibly Utility. It among many presented the idea that the way to get a coin to have genuine utility and widespread use was to bootstrap it within a large existing community, in this case Iceland.
Delayed Distribution.  The distribution that could lead to credible utility would only come at a future date, so people were trading a very limited supply and inflating the price. (Also demonstrated with Ethercoin directly before Ethereum launch.)
Sharedrops don't work well. Once the coins did start getting given away and supply came on the market the price was crushed.

4. A unique selling point - For BTSX it was the idea that a currency could be profitable and not wasteful and that it would have BitAssets.

+1

Good advice here too

3
General Discussion / Re: Lessons Learned from Alt Coins
« on: January 09, 2016, 06:32:09 am »
What lessons can we learn about how to launch a successful alt-coin?  Perhaps we could use this information to help us improve BTS marketing.

If you wanted to "create an alt coin" and only a "coin", not a DAC... how would you market it to maximize its market cap to be higher than DOGE.

Lesson: Mining is the "fairest" (if thats possible) distribution method invented, and the method that best prevents whales from dominating the price. Case in point: spawning 30 million BTS to AE.

Lesson: Focus on one great idea (The DEX) and get it finished without succumbing to inventor's ADD.

I agree with these two points, and would expand a little . .

1. Fairness (Distribution fairness)
2. Transparency (Easily seen to be fair)
3. Simple (Bitcoin + 1 New Idea)
4. Fixed in nature (No moving the goalposts after launch)
5. Supply constrained (These days, you gotta figure out a way to avoid the killer pump'n' dump)

Dan, I think you're very brilliant, but way ahead of the market. You would have been better launching 4 or 5 different alts, all focused on different ideas - not that I saw that 2 years ago either.

4
General Discussion / Re: The Benefits of Proof of Work [BLOG POST]
« on: January 07, 2016, 02:39:34 am »
That said, I do like the idea of fixed-deposit interest payments in the blockchain. Are there any altcoins that implement this yet?

If not, I think a simple altcoin with interest payments would be easy for people to understand and exciting to both investors and speculators.

Little bit of discussion on this -

https://bitcointalk.org/index.php?topic=1317065.0

5
General Discussion / Re: The Benefits of Proof of Work [BLOG POST]
« on: January 06, 2016, 11:24:05 am »
That said, I do like the idea of fixed-deposit interest payments in the blockchain. Are there any altcoins that implement this yet?

If not, I think a simple altcoin with interest payments would be easy for people to understand and exciting to both investors and speculators.

welcome back .. long time no see .. how it's going ?

Pretty good. I had to take some time out to save the world from destruction by a criminal mastermind, but all that is sorted now.

6
General Discussion / Re: The Benefits of Proof of Work [BLOG POST]
« on: January 06, 2016, 09:49:09 am »
That said, I do like the idea of fixed-deposit interest payments in the blockchain. Are there any altcoins that implement this yet?

If not, I think a simple altcoin with interest payments would be easy for people to understand and exciting to both investors and speculators.

7
General Discussion / Re: The Benefits of Proof of Work [BLOG POST]
« on: January 06, 2016, 09:42:41 am »
it is bad to hear that bm start to post blog   :),:)

Those who complain that we are good at technology but bad at marketing should make up their minds.  One BM blog article draws more attention to BitShares that almost anything else I can think of.

Good to see Dan blogging. The most effective thing he could do is learn to write well and explain BitShares to the general Bitcoin user/investor. I think there is a temptation for a developer to think that if he adds just one more killer feature, it'll be the one where everyone finally recognizes how good the product is and investors will pile in. I think the opposite. BitShares is too much of a moving target for investors. Stop innovating, tidy up the loose ends, call it finished, and explain what the heck it is.


8
General Discussion / Re: Scope for bitassets with high return
« on: April 09, 2015, 05:15:04 pm »
They can only offer that high interest rate because they can print more Rubles to pay the interest, i.e. like Nubits. BitAssets cant do that, it can only offer interest through services provided, i.e. a free exchange of value.

I guess the short would be providing the more Rubles.

9
General Discussion / Re: Scope for bitassets with high return
« on: April 09, 2015, 09:32:51 am »
Yes, what is the current "return" on BitAssets (list by %?).

Who has received a return, and what was it?
See here for current yields...http://bitsharesblocks.com/assets/market

My understanding is that these yields are dividends based on transaction fees, rather than interest rates based on the strength or weakness of the tracked asset.

It's difficult to make a case to hold BitRub and forgoe a 14% interest rate rather than hold BitUSD and forgoe a 0.5% interest rate. One clearly dominates the other -  some levelling is required, and a yield based on the asset might be a good way to address that.

If I could short BitRub with BitShares, hold the Rubles earning 14%, and offer BitRub holders a 10% yield, it could be an interesting prospect for those who want to go long on the Ruble, but don't have easy access to a Ruble account. A cryptoasset offering a guaranteed 10% return might be an interesting marketing angle too.

10
General Discussion / Re: Scope for bitassets with high return
« on: April 07, 2015, 04:34:05 am »
I think I'm asking about bonds.

Say a BITRUB12-07-04-2015 bond . . . . the 12% denotes the interest rate, the 07-04-2015, the date of its issue.

If it is destroyed for bitshares on 07-05-2015, bitshares equivalent to 1.01 RUB must be produced (1 months interest)
If it is destroyed for bitshares on 07-04-2016, bitshares equivalent to 1.12 RUB must be produced (12 months interest)

Such an instrument possible in Bitshares?

11
General Discussion / Scope for bitassets with high return
« on: April 06, 2015, 07:19:00 am »
I'm wondering if Bitshares has scope to support assets where the holder might expect a high return for holding.

For example the Russian rouble currently has a 14% interest rate - is there any mechanism that would support a 14% interest return on a holding of BitRub?

12
1. BitShares needs widespread media coverage comparable to the attention that Bitcoin was getting 1 year ago.
2. The only way to get that coverage is to create a huge bubble
3. The only way to get that bubble is through encouraging speculation
4. The only speculators with the funds and cojones to create said bubble are early bitcoin adopters
5. Marketing efforts therefore should be directed initially at wealth bitcoin adopters looking for the cryptocurrency successor.

A good first step is an accessible video explaining that Bitshares is like Bitcoin, but supports BitUSD, has better decentralization, and is self-financing. Something like the original famous 'weusecoins' video.

13
It is not a lack of education.. that is near certain.  They are blatantly misrepresenting the landscape.  And even worse...there is no comments section.

The author is probably aware of other assets on the landscape, but lacks the knowledge or skills to make an evaluation of them. Coming from a BTC background, it takes a lot more effort and ability to evaluate BitShares or Ethereum than it does Primecoin or Litecoin. It's a positive sign that an author is venturing outside of the BTC zone . . . if this author could understand BitShares, he might write about it.

14
If you're holding any PTS (Bitshares PTS, formerly ProtoShares) on Cryptsy, I recommend that you withdraw it to your wallet now.

There's an upcoming mandatory fork that upgrades PTS from PoW to DPOS that enjoys the broad support of the PTS community.
https://bitsharestalk.org/index.php?topic=11877.0

Cryptsy has not so far responded to any of the devs or stakeholders as to how it intends to respond to the upgrade.

Considering previous form regarding distributions and lack of support for DPOS assets, there is a high risk that Crypsty won't support users in the transition and that users will lose their PTS.

The valuation date for the upgrade takes place on the 14th of December. However, the PTS network has slowed to a crawl, sometimes seeing only 1 block a day so I recommend placing the withdrawal order ASAP.

Cross Posted:
https://bitcointalk.org/index.php?topic=887402.msg9784953

15
A DPOS-based PTS chain is, to me, a wonderful idea.  However I do still wonder about the point that the Chinese community made about the profitability of running these delegates.  Still trying to figure that one out.

I think the devs are ideologically committed to 0% inflation - perhaps a reaction to BitShares moving to an inflationary model.

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