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Messages - oldman

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136
General Discussion / Huge Opportunity for Rapid bitUSD Adoption - Right Now
« on: February 12, 2015, 02:20:27 am »
http://www.reddit.com/r/Bitcoin/comments/2vk981/medical_marijuana_industry_pouring_millions_into/

Someone needs to say hello to the medical pot industry.

Methodx is looking for low hanging fruit, this is it.

Light wallet and a little bit of marketing could pump tens of millions into bitUSD.

bitUSD literally solves the entire industry's banking problems.

137
General Discussion / Re: BTS is 2nd only to BTC
« on: February 03, 2015, 04:11:24 pm »
The way I see it when looking at www.coinmarketcap.com

Ripple is centralized  BS, not to be touched
Litecoin is not innovative and has been dieing off for years
Dogecoin is a joke, a good one
Maidsafe might not even work
Paycoin is a scam
Stellar I don't know about
NXT is shady and a bad model
Darkcoin is overly engineered and flawed, SDC has a better method for anonymity

Bitshares solves all the problems critics love to slam on bitcoin, volatility, centralized mining, wallet addresses, etc etc

I can't wait to see what this list looks like by end of 2015 but in my mind Bitshares will remain at top with bitcoin for a very long time.

 +5%

Pretty much sums it up.

138
Bingo / gambling is out.  I am not looking to push any more controversial forks.

 +5%

Kudos to BM for seeking out and being responsive to community input; this is the reason BitShares has the No. 1 development team in the industry.

139
Keep it Simple... Lets not complicate the pool.  Once you have BitUSD you can buy anything you want with it including BTS.

Separate out concerns of mining vs investing.  Mining is working to earn a paycheck.   You use your paycheck to invest.

Focus everything on BitUSD.   Imagine how tight the peg will be if our mining pool is buying BitUSD constantly.

 +5%

140
Seeing as that BM realises BTS is about to fail and is putting it in as a desperate step, everybody should vote yes.

spoiler alert : BTS is gonna go viral in several months due to some major promotion effort in China , unless we do something to drag their feet . A crowd funding company already got millions of USD of VC to operate their operation on BTS . That's once in a life time opportunity for BTS .

As a matter of fact , all they want is no more surprises , a stable wallet and protocol ,  everything will work out eventually .

Left hand meet right hand. Hope east and west are talking..

Agree with keeping noses clean until some momentum/market share has been gained.

Pure, unhindered functionality is all we need for the first leg up.

141
General Discussion / Re: Can MaidSafe Decentralize the Internet?
« on: February 02, 2015, 05:24:30 pm »
BM has some very valid concerns, great to see them elucidated.

The biggest issue is economic incentive.

Bottom line is people are generally lazy, selfish and dumb. Sorry, but true.

So while Maidsafe may be the holy grail of decentralized internet security, if it isn't faster, cheaper, easier and more profitable than the status quo... the masses will not care.

I think that is the main issue with Maidsafe - techno awesome but perhaps the Linux of the internet.

142
General Discussion / Re: The end of POW approaches...
« on: February 02, 2015, 05:18:31 pm »

Unfortunately we're not well positioned to take advantage of it yet so it's likely we'll continue to fall in unison for the time being.

Unless of course bitcoin goes back up...

It can happen.....right? RIGHT??

Keep buying nomoreheroes. :D Nothing has changed, Bitshares is still the crypto project with the most potential.

Well we can start pulling away and looking like the next decentralized contender in line for the throne.

However if a casual observer looked at BitSharesX 3 months ago and looked at BitShares today, the only difference they'd see is this version has given up 20% Equity and introduced inflation. They actually have to see what's being worked on actualised as well as BitAsset growth to start to give us a higher valuation and some forward momentum.

There have been some really opportune times for BitShares to be 'ready'. This certainly ranks as one. Instead, we have to hope that we'll create our own favorable winds when the time comes!

BTS has been showing surprising strength relative to BTC.

Would be fantastic to see BTS take a run following release of 1.0, light wallet and some marketing. Be easy to bump up the leader board...

143
Kudos to BM - well reasoned and well written.

Reading through the posts here https://www.maidsafe.org/t/bytemater-bitshares-daniel-larimer-opinion-on-maidsafe/2902/29 shows how similar the Bitshares and Maidsafe communities are.

Measured and respectful responses from the Maidsafe community, similar (perhaps even more measured) than responses from the Bitshares community.

All in this exercise further reinforces my view of Bitshares and Maidsafe being the two techs most likely to change the way the world works.

Great people doing great work!

144
General Discussion / Re: Are you rooting for Bitcoin or against it?
« on: January 27, 2015, 06:18:35 pm »
Bitcoin is the value gateway all crypto platforms need to survive.

145
General Discussion / Re: Blog Post Suggestions for BM & Co
« on: January 26, 2015, 09:20:05 pm »
Would be fantastic to see a review of MaidSafe and how the technology can be/is complimentary to BitShares.

MaidSafe is going to start popping up in the media over the next year or so (testnet 3) and it would be beneficial to be properly positioned.

https://bitsharestalk.org/index.php?topic=13731.msg178889#msg178889

146
General Discussion / BitShares and MaidSafe - Are We Talking?
« on: January 26, 2015, 08:32:52 pm »
For the uninitiated there is a very good summary of the MaidSafe project here:

https://www.maidsafe.org/t/introduction-to-maidsafe-what-it-is-how-it-works-and-how-it-compares-to-bitcoin/2500

If there is one tech/group BitShares should be working with closely it's these guys.

They are nearing minimum viable and should be releasing something usable this summer.

Have the BitShares devs done any further outreach/collaboration?

It would be great to see a dialogue with Dave, Nick and BM.

Perhaps a post on BM's blog?


147
General Discussion / Re: What's the realistic BTS potential?
« on: January 23, 2015, 05:22:46 pm »
One thing to consider though, is that Bitshares isn't really positioning itself as an alternate currency, like other altcoins. It could provide that service, but it just isn't taking that approach right now it seems. Bitcoin, for example, is basically marketed as the new "money" of the Internet. I don't know if BTS is really seeking to compete in that space. Of course, it could turn out that it does become one of several preferred “currencies” to make transactions online. But it will take time before people understand what else Bitshares is capable of.

>>> This exactly. BTC will coexist within the BitShares platform just as gold, silver, oil, fiat, etc. exist. BTS is not a competitor to BTC... but many BTS attributes/features happen to make BTS a very viable BTC successor. Acting as a currency is possible but secondary.

Now if say Bono from U2, or another well-known band, came out and said that anyone who buys into the new U2 single can share in the profits, then there would a lot of interest. Is Bitshares laying the groundwork for those opportunities? That seems quite a while down the road. And even then, something like that wouldn't necessarily elevate the valuation of BTS, correct? But the asset that is being used (the new single).

>>> Yes, this is possible with UIA or PLAY and you can expect to see many artists using the tech in the years to come.

As I understand it, BTS is more of a neutral baseline from which to launch other assets. And perhaps we wouldn’t want that baseline to have a huge valuation ($100 per share, etc) because that may prevent everyday users from participating in the exchange. 

>>> USD value of BTS is irrelevant just as for BTC. Both are divisible to a degree that purchasing even the smallest fraction of a BTC or BTS is possible.

I look at something like Scottrade, which has a commission of around $7 a trade. I wonder if something like BTS can follow an online brokerage model, and essentially the 'fee' becomes the exchange rate before an asset is "purchased?" (BitUSD, etc.) Even then, it is the underlining asset that would be the investment play. So in the case of the the new single,  BitU2single, would be what investors would be interested in. Maybe I'm looking at it the wrong way?

>>> Sounds like you need to read up on PLAY. With regard to brokerages, BitShares + fiat gateway effectively renders brokerages obsolete. Folks can trade bitAssets and UIA for a few cents and hold those assets with zero counterparty risk.

148
General Discussion / Re: What's the realistic BTS potential?
« on: January 23, 2015, 05:11:25 pm »
Lots has been said on this topic.

Personally I believe Bitshares will become the first trillion-dollar crypto, but I'm slightly biased. ;)

Bitshares has the potential to completely reboot global finance (bitAssets) and politics (Vote). Sounds grand, but is real.

The recent announcement of Google's billion-dollar investment in Musk's satellite internet program is the harbinger of a perfect storm.

Bitshares + Global Internet + Cheap Smartphones = Revolution.

Just for a little circlejerking I'm saying $1-$5/BTS in the next 2 years/by 2017...

You must think Bitcoin and other cryptos are going to boom over the next 2? I think it'll be a while before Bitshares is able to detach itself from the crypto enthusiasts economy.

My personal belief is that Bitcoin is following a scripted adoption plan:

Grass Roots (Crypto-anarchists!) -> Small Biz -> Bigger Biz (basic infrastructure) -> Wall Street/Hedge Funds -> Sovereign Wealth -> Small Gov -> Big Gov -> Main Street (fiat is pushed into forced obsolescence and everyone has to use addresses linked to gov id and white coins).

Currently in the Bigger Biz -> Wall/Street Hedge Fund phase where BTC gets pumped to the $100k range, setting the stage for the big boys to move in.

I think this is playing out in parallel with the impending market collapse/debt contagion fiasco, with bitcoin as the scorched-earth option in the currency war we are witnessing.

So yes, I think over the next 2-3 years Bitcoin is going to boom like nothing has boomed in the history of humanity.

But Bitcoin is just a protocol, like http. BitShares is more like the entire internet ecosystem, but for finance and voting, with a twist - BitShares is monetized via BTS and decentralized via DPOS.

BTC and BTS will happily co-exist, but I believe BTC will exist as a small part of a much larger BTS ecosystem.

149
General Discussion / Re: Bitshares and LLC
« on: January 22, 2015, 10:22:10 pm »
I think we should consider finding an accountant or lawyer to run as a delegate specifically to help folks navigate through the process of setting up a bitAsset/bitCompany/bitCorp etc, as well as provide review/advisory services on the compliance of bitAsset listings.

The last thing we want is a bunch of honest people getting nailed with securities fraud, or worse, scammers committing fraud and sullying the brand.

US/Can centric 'incubator' at first, but as the delegate income grows it is completely conceivable to have a delegate managing an international team of accountants/lawyers/consultants helping business around the globe with bitAssets.

Would be fantastic to start building precedent case law and a body of knowledge/experience around bitAsset issuance and interfacing with the 'real' world.

Incidentally, bitAssets render Kickstarter and Lighthouse obsolete... folks can now issue shares in their ideas instead of having to pussyfoot around with 'rewards' etc.

Everything you just described refers to UIA's, not bitassets.
I guess this post suggests that we need to give up on having "bitasset" mean market-pegged asset...

Yes, the distinction is going to get lost.

UIA's and bitAssets are invariably going to get lumped together during adoption... as is clearly already happening.

150
General Discussion / Re: Bitshares and LLC
« on: January 22, 2015, 09:19:52 pm »
I think we should consider finding an accountant or lawyer to run as a delegate specifically to help folks navigate through the process of setting up a bitAsset/bitCompany/bitCorp etc, as well as provide review/advisory services on the compliance of bitAsset listings.

The last thing we want is a bunch of honest people getting nailed with securities fraud, or worse, scammers committing fraud and sullying the brand.

US/Can centric 'incubator' at first, but as the delegate income grows it is completely conceivable to have a delegate managing an international team of accountants/lawyers/consultants helping business around the globe with bitAssets.

Would be fantastic to start building precedent case law and a body of knowledge/experience around bitAsset issuance and interfacing with the 'real' world.

Incidentally, bitAssets render Kickstarter and Lighthouse obsolete... folks can now issue shares in their ideas instead of having to pussyfoot around with 'rewards' etc.


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