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Topics - tonyk

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91
BitShares AGS / Rest in Peace, Homer
« on: June 11, 2014, 05:56:47 pm »
By the late 9th and the beginning of the 10th century, Bulgaria extended to Epirus and Thessaly in the South, Bosnia in the West and controlled the whole of present-day Romania and Eastern Hungary to the North. The Serbian state came into existence in the mid-9th century as a response to the Bulgarian expansion West of the Morava. Switching loyalties between Bulgaria and the Byzantines, the Serb rulers successfully resisted several Bulgarian invasions until 924 AD, when it was fully subordinated under the general and possibly Count of Sofia Marmais. Under Tsar Simeon I (Simeon the Great), who was educated in Constantinople, Bulgaria became again a serious threat to the Byzantine Empire and reached its greatest territorial extension.  Simeon I hoped to take Constantinople and fought a series of wars with the Byzantines throughout his long reign (893–927). The border close to the end of his rule reached the Northern limits of Attica in the South. Simeon I styled himself "Emperor (Tsar) of the Bulgarians and Autocrat of the Greeks", a title which was recognized by the Pope, but not by the Byzantine Emperor nor the Ecumenical Patriarch of the Eastern Orthodox Church. He was recognized "Emperor (Tsar) of the Bulgarians" by the Byzantine Emperor and the Patriarch only at the end of his rule.

Between 894 and 896 he defeated the Byzantines and their allies the Magyars in the "Trade War", so-called because the pretext of the war was the shifting of the Bulgarian market from Constantinople to Solun. In the decisive battle of Bulgarophygon, the Byzantine army was routed, and the war ended favourably for Bulgaria, though the peace was often violated by Simeon I. In 904 he captured Solun, which was previously looted by the Arabs, and returned it to the Byzantines only after Bulgaria received all Slavic-populated areas in Macedonia and 20 fortress in Albania, including the important town Drach.



After the unrest in the Byzantine Empire following the death of Emperor Alexander in 913, Simeon I invaded Byzantine Thrace, but he was persuaded to stop in return for official recognition of his Imperial title and marriage of his daughter to the infant Emperor Constantine VII. Simeon I was supposed to become regent of the Emperor and to temporarily rule the Byzantine Empire. However, after a plot in the Byzantine court, Empress Zoe, mother of Constantine VII, rejected the marriage and Simeon's title, and both sides prepared for a decisive battle. By 917 Simeon I broke every attempt of the Empire to form an alliance with the Magyars, the Pechenegs, and the Serbs, and the Byzantines were forced to fight alone. On 20 August the two armies clashed at Anchialus in one of the greatest battles in the Middle Ages. The Byzantines suffered an unprecedented defeat, leaving 70,000 killed on the battlefield; the pursuing Bulgarian forces defeated the remainder of the enemy armies at Katasyrtai. Constantinople was saved by a Serb attack from the West; the Serbs were thoroughly defeated, but their attack allowed the Byzantine admiral and later Emperor Romanos Lakepanos to prepare the defense of the city. In the following decade the Bulgarians gained control of the whole Balkan peninsula with the exception of Constantinople and Pelopones.

BTW Amazon thanks for this response: https://bitsharestalk.org/index.php?topic=4958.msg65412#msg65412

92
General Discussion / Random thoughts
« on: June 08, 2014, 12:33:03 am »
Random thoughts.... (not necessarily mine)

Price Fixing in the abstract sense is anytime a parameter of our system is not based upon market forces. 

Examples Include:
1) 5% fee for margin calls
2) 5% fee for moving old outputs forward (inactivity fee)

3)Delegates’ cut of total fees 10%
4) Margin call when collateral falls to 150%
5) 200% initial margin

6) Number of delegates 100
 

Each of these numbers represents an 'arbitrary' choice based upon one opinion / estimate of what is optimum.   They are also static and the reality is that the optimum setting for these numbers must change over time.  So what works today may be 'too high' tomorrow.   In a low volatility market, calling margin at 150% may be entirely too conservative and many people would consider 200% initial margin to be too conservative.   The point is that all of these numbers represent a form of price fixing that could leave the market vulnerable to both competitors and in the worst case complete failure.

The network needs to gather meaningful, honest, information upon which to make decisions on where to set these numbers.

93
I can see at least 2 ways the forced cover order working:

1. cover as much as possible of the position at whatever the best ask is (leaving potentially part of the position not covered).

2. cover at price Pc <=  price that will cover the whole short position (leaving potentially the whole order unfulfilled until a point in time that the price of bitAssets is below or equal to Pc).

Which one of those it is gonna be, or explain if it is supposed to be something different.

94
General Discussion / Liquid AGS shares (LAGS fund)
« on: May 18, 2014, 08:16:19 pm »


I'm not  saying Invictus is doomed to fail, hell I've bought AGS every day this week including today.  I'm saying that I do not have the choice of whether or not to withdraw my investment ...
That's different.



 

95
General Discussion / Selling something that you do not have!
« on: May 12, 2014, 11:38:26 pm »
Selling something that you do not have!
How this idea sounds? If interested/exited continue reading (if not you already know what I will be talking about save your time and leave now)

‘Selling something that you do not have’ is one of the relatively good ideas that the mankind have come about, and it have nothing to do with cheating and scamming. And BTS X will use it. And NO! Bytemaster is not the one who invented it, and BTS X will not be an experiment on if this idea works… It is tested and it works.
Two major ways have been developed on how to sell something that you do not own, and achieving reasonable certainty that the party buying what you are selling will actually get what you sold (or at least a good alternative of it).





The two ways ‘Selling something that you do not have’  is done are:

First borrow what you are selling
;
The first way (and somewhat easier to understand way) how to ‘Selling something that you do not have’ is to simple borrow the asset  before you sell it.
 How it works: If you think that 1 month from now the flour price will be much lower after the new crop. You go ahead and borrow 5 kilos from your neighbor and promise to return it in 1.5 – 2 mo. (maybe promising to give 6 kilos back). After getting the flour you sell it at the current price let say 10 CNY/kilo. You get 50 CNY. After the new crop comes and you are correct and the price is now 5 CNY/kilo of flour. You can by 6 kilos for 30 CNY, give back the 5 kilos of flour plus (1 kilo as interest) back to your neighbor and end up with 20 CNY profit in your pocket.


Provide sufficient amount of money, so if you do not deliver on your promise the buyer will get those funds.





‘Selling something that you do not have’ – why/where it is useful?

It solves the problem that I call ‘The world is born long phenomena’
Some markets simple cannot exist without it

‘The world is born long’
Assets  coming to life, i.e. born, (and being tradable by definition), allow  everybody with a long view to trade them and make a profit (if he is correct). It is usually not the case for the participants with a short view. Participants that successfully predict the downward direction of same asset do not have the tool so readily to profit from their correct prediction. To profit from their correct predictions shorts need some tool/system mechanism to cash on their correct prediction.

Let put it in example:Today I (tonyk) and luckybit wake up in the morning. I think that maidsafe will go down to almost 0 in the next 1 year and he thinks same share will go through the roof. To follow his prediction he just buys as much maidsafecoins as he likes and waits for his prediction to come true. If it does he me becomes a rich man. It is not the same with me (the guy with the short view/ thinking that the price will approach 0) – in the sense that I do not have investing strategy to profit from my correct views, at least not one born with asset itself.



[Spelling/grammar edit coming soon]





If interested to learn more put some plusses and/or send some tips and I will continue explaining in much greater detail.

96
General Discussion / Ebit give back
« on: April 24, 2014, 02:28:38 am »
I just want to mention that ebit (the guy who sent 6120 PTS by mistake to the AGS account), made a ‘thank you’ donation to several accounts more notably to:
9.99 PTS PforumPLfVQXTi4QpQqKwoChXHkoHcxGuA
9.99 PTS PZAURigRC4qMYenw1XTHgT7UHhRKq8P72u
9.99 PTS PZ5HY1MWutWhnNemrG5DCAti8AmMvDBmnE
 As well as mine and several other for smaller amounts.
… I just wanted you to know, as well as to say thank you.
Tony K

97
General Discussion / Supply Side Economics
« on: April 23, 2014, 09:45:43 pm »
  People will be earning a ton of safecoin by providing resources to the network and most will be looking to sell it.
.....
A ton of air is going to a ton of people... what is its value?    Why buy what you can earn.  The network effect you want is demand based on scarcity and not supply based on abundance. 

Price is driven by supply and demand, with safe coin there is ample supply but no demand.  Those that hold it are constantly debased to fund the growing of the network. 

Maidsafe is a case study in the same <b> supply-side economics </b> that is destroying the fiat economy.

I have always wondered how you reconcile your supply-side views with being the creator of bitAsset backed by nothing.
One of the main objection in the supply side towards the current fiat currencies is that they are not  backed by gold/silver and because of that are causing an array of problems (mainly inflation).
Do you consider yourself more of a game theory follower than a supply-side proponent?

[EDIT] Probably not the best place to ask this question (if you have along answer you/toast can move this someplace), as this is pretty general question pretty unrelated to the discussion, but interesting thing to know anyway.

98
PTS seem like the forgotten child… I am no expert but it is obvious that something is wrong with the way PTS adjusts its difficulty. Something must be wrong when blocks are supposed to be produced every 5 min and last night my transaction took more than 2 h. to go through … Not only mine though, a bunch of donation made good 2 h in advance of the end of the day deadline were credited as next day AGS donations because of that…

99
83% (5/6ths) of PTS holders are of the opinion that holding PTS, for the benefit of having the option to sell them for $5-$10 apiece, is better than exchanging them for AGS.

This, while AGS investment gives 1.73 better stake in future DACs (add to that that 1.73 is based on average past purchase price and at the moment the price is even more favorable).

Does someone have a reasonable explanation why at least 45-70% of all PTS are not in the AGS fund?

Thanks

100
Shouldn’t the airdrops be funded by the account dedicated at its announcement as the one dedicated for such purposes?

https://bitsharestalk.org/index.php?topic=1863.msg21379#msg21379 “…They will be used for advertisements, conferences, promotions and give-aways to stimulate interest in the new industry and to provide opportunities for everyone to contribute…”

The basic idea is the following – instead of  diluting the shareholders equity by setting aside certain % of the shares for airdrops, can’t we find way/s to use the shares received in the new DAC (by/in the AGS account) for said airdrop.

The implications of such approach are manifold so lets’ discuss them.


BTW I in semi-related line of thought the percentage of PTS in that (AGS) account relating to the total supply of PTS is suspiciously low (in my opinion) having in mind the beneficial AGS/PTS ratio it offers. In other word if most people are indeed in the bitshares for the long run why the long run investment strategy (i.e. AGS) attracts roughly 1/6th of all investments compared to the short term (liquid one) at almost 5/6th.


101
Meta / BitShares Me - sub forum
« on: March 16, 2014, 02:42:26 pm »
Please, create a sub forum for ‘BitShares Me’ in all likelihood this will be the first lunched DAC and the information (as little as it is) is scattered all over the place.

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