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Messages - GaltReport

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General Discussion / Re: DEX Proposal
« on: January 01, 2016, 04:27:04 pm »
A lot of people have expressed interest in having me/CNX focus on the DEX. 

If that is the case, I can create a worker proposal that will fund almost full time DEX development.  It will require about $30K per month to have Val, Ben, James, and I working on the DEX 75% of the time. 

Otherwise we will have to find other ways to make money.

What are your thoughts on such a proposal?  We would focus on API + Bond + Maker.

I don't think this is unfair and is just what it costs CNX to do more work at this stage.

It would be good to see estimated timelines for each feature.

Given that we can possibly get Latvian/other Devs for $12k a year, I think CNX's focus should also be on trying to create a second team of overseas devs that are outsourced whatever work it is possible for them to handle.

BTS's value would increase substantially with another team or group of developers working on improving BTS at the same time & for much less than US based devs could.

Helping get as many new devs up and running would also free you to work on MAS/personal passion and focus on the more lucrative banking/other contracts CNX has.

I like this idea. why not create a worker proposal to train up a bunch of cheaper devs from eastern europe so that company can compete against CNX.

I think this is the direction Jakub is going, probably at a more realistic place & KenCode seems like someone who could ultimately manage such a team -,20823.0.html

I wouldn't say compete with CNX as new visionary features are something BM & CNX are ideal for, but completing the periphery work at a price BTS can afford as well as the more mundane work, could be ideal for a cheaper group of BTS proficient E. European devs.
Maybe CNX can manage these cheaper, hands-on developer teams for awhile and overtime they may become more self-reliant.

their logic goes like this.... if I build a better looking house on your land I can claim the land as mine. After all they claimed a whole continent as 'theirs' following this tactic, what are a feature or two on BTS.

CLI users are (and always will be) a very small fraction of Bitshares' user base. Sorry, but you are not that important. It is more important that the masses be able to use said feature than you get "robbed" of it. Anyways, the appreciation of the value of the BTS token, if we are able to further adoption, will in effect remedy the "profit" you could of made from Stealth transfers (or any feature for that matter.) Adoption has always been the end game goal for Bitshares- if it is widely adopted everyone wins, regardless of who owns X, Y or Z feature. Making Stealth transfers available to the masses rather than just CLI users is a good step in that direction. It will take many more steps, but every step is worth taking.

You guys should of realized early on that Bytemaster will heavily influence the direction the Bitshares project will take. If you don't like that, then please just sell your stake and go somewhere else because your negativity is toxic to the community.

 +5% - The community is way more tolerant than it needs to be IMHO.  It's like people coming into your home and calling you a bum and your wife a whore...and screaming FREE SPEECH when you tell them to STFU and get out. 

(my Christmas message.  ;D)

The STEALTH proposal has been widely accepted by the community with almost 13% of total stake (~330M BTS) voting to implement the proposal.   Very view people actively rejected it.
+5% - Go forth and create this STEALH that you speak of!!

General Discussion / Re: Millions of Features, Features for Me!
« on: December 12, 2015, 02:23:28 am »

but then again why is this voting... for only after "the stealth non-sense is implemented"?

0. Stealth
1. Bond Market (Poloniex Style Lending)
2. Prediction Market (Auger Style)
3. Ethereum (or something similar) VM integration
4. Liquidity Incentivisation
5. Gambling Systems

Just calling it "nonsense" doesn't make it so. Please present an argument.

Well it is as sensible as the rest of them.
Why is it more sensible (deserves special treatment, in your mind)?

It deserves special treatment because [member=49]onceuponatime[/member] has already been grandfathered in.  I don't want to take the deal he earned and auction off his profits.  Also, he was planing to pay in fiat which is much appreciated.  Furthermore, I think his plan is further developed than some of the others.   

Unfortunately this is my take on the whole issue as well....the main difference being someone paying in cash....seeing said cash clouds any other reasonable judgment.

The other unfortunate fact is even with his great generosity , love for the project and willingness to take a huge risk for BTS .... he is sadly lacking the ability [actually stubbornly refusing to do so] to properly judge what is best of his beloved (his and mine) project.

It is true that I lack many of the skills that you and others might have in this modern age and on this Forum. This is because I am probably much older than you and did my schooling before there were computers. There weren't even calculators when I went to school!

That doesn't mean that I lack common sense or discernment and discrimination. I'm sure that I have spent more time living on the streets than either you or even Martin 38PTSwarrior. I have traveled and lived in dozens of countries. I have degrees in Business Management and Economics and have worked (before the smell got too bad) as a special investigator for a Federal Government. I have slept under bridges and I have slept in palaces.

I think that I am as good a judge of character as anyone on this Forum. And I invest in people.

Perhaps your famous and cutting edge cynicism could be enhanced by a dash of Humility?

 +5%.  As I've told my son, it's nice to be smart...but character trumps intellect IMHO.

Meta / Re: Censorship is a sign of weakness
« on: December 11, 2015, 12:05:55 am »
He repeatedly violated the Terms of Service that he agreed to in order to use this forum.
I think he should have been banned quite some time ago. I am against censorship of ideas or discussion or criticism. But quite often his posts were none of those. They were verbal violence against another Forum participant.

"You agree, through your use of this forum, that you will not post any material which is false, defamatory, inaccurate, abusive, vulgar, hateful, harassing, obscene, profane, sexually oriented, threatening, invasive of a person's privacy, adult material, or otherwise in violation of any International or United States Federal law. You also agree not to post any copyrighted material unless you own the copyright or you have written consent from the owner of the copyrighted material. Spam, flooding, advertisements, chain letters, pyramid schemes, and solicitations are also forbidden on this forum."
I used to moderate a popular JTV many abusive and threatening people complaining about "censorship".  I always told them that they are free to say what they want on their own channel.  Don't come to my channel and expect to piss on me and my guests!! 

Please listen to this week's BeyondBitcoin hangout, bytemaster's comment from 14:21 to 17:55, because it's really really important.

Some people might not see it, but I believe [member=5]bytemaster[/member] is talking about something really important here. The topic changed to another subject after bytemaster asked for feedback, but I think we need to keep coming back to this topic over and over again.

I'm a trader myself and also a market maker of my own UIA, so I exactly know what bytemaster is stating here.

As bytemaster states, each market should be seen as its own mini business, as a profit center. So, each asset needs promotion individually.

UIA issuer has to jumpstart their own asset by performing market making themselves in the beginning even at a loss, but if market makers cannot earn any percentage fee from both buy and a sell, you will not be calling that "incentivizing market makers." In fact, it's the exact opposite. Eventually, a small-sized UIA issuer will have a hard time keeping up with creating a buy wall if they cannot receive any percentage-based market fees in BTS.

Furthermore, if worker proposal #446 gets approved, this can kill the game for UIA issuer.

BTS is owned by the null-account, so UIA issuer can't do anything about it, even when the community makes a mistake. Have you thought from an UIA issuer's point of view? What if the community comes up with a "stupid" market fee value? That will affect the UIA issuer's game and UIA issuer has no control over it.

I think BTS should be detached from the null-account, and market fee for BTS should be configurable per UIA level by the UIA issuer, and it should allow percentage based market fee that flows directly (no vesting) into the UIA issuer's Fee pool. That's what it means to promote an asset individually and incentivize the market makers.

 +5% and agree with BM's suggestion on splitting fee between referral program and UIA creator.

General Discussion / Re: Proposal for Having Alternate Smartcoin Designs
« on: December 07, 2015, 08:37:16 pm »
So what premium or interest rate does the system charge for this loan?  Borrowers usually pay a premium or interest rate for borrowing money.  Its more like lending to yourself and borrowing from yourself at the same time, instead of the system.  As I said before, maybe lender is not the correct term to use.  The smartcoin creator is more like an options seller.

In this case you borrow one type of money (i.e. bitUSD) against a collateral in the form of another type of money (i.e. BTS).
So one might say there is no premium or interest rate involved because the size of the collateral itself is enough to compensate the lender (i.e. the system) for their risk.

Lending to yourself and borrowing from yourself - this concept does not make sense. Similarly you cannot sell something to yourself or buy something from yourself.
In our case you borrow something (i.e. bitUSD) from the system and as long as you remain in control of this borrowed thing, you are not exposed to any risk (and any profit).

It's similar to borrowing money from a bank at zero interest and keeping this borrowed money safely in a bank account of the same bank.
Theoretically you have a debt but still your financial situation is not affected in any way as long as you do nothing with this borrowed money.

Yes, bold part is how  I understand it.  Short is putting up their BTS collateral to Borrow BitUSD from the system and sell it (when someone buys it).

Listening to this now...seems very interesting.  Makes me more interested in these other markets...Gold etc...Sounds like a potentially big idea...:)

I couldnt listen to the last one. It isnt on beyond bitcoin yet (the second last one neither). Not an insult at all though! Fuzzy and his crew aren't paid for anything (I guess)...

Anyone have the latest hangout? [member=183]testz[/member]?

You can find it here:

Scroll down a bit...

Stakeholder Proposals / Re: Is maqifrnswa active?
« on: December 03, 2015, 11:17:01 pm »
I haven't have any communication with him, and he haven't published any feeds. What status now? [member=3464]maqifrnswa[/member]

i'm quite active ;-)

There is a slight conflict of interest with me publishing feeds. By measurement of trading fees paid, I'm the most active trader by far. Since I've been making trades based on forced settlement and feeds, it appears to be a conflict of interest setting the feeds that I directly profit from.

I really would prefer being a worker and maintaining linux distribution of bitshares (and raspberry pi nodes/wallets), but there doesn't seem to be an interest in funding that. So, for now, I've been justifying running (ppa:bitshares/bitshares) and the preliminary page at off of witness pay. I've also kept the market maker "" running with witness pay, which might also be something for a worker.

Since the start, I only want to be a witness for as long as I am useful. If I'm no longer useful without feeds, please cut me out

the bolded - Actually you are not (you might be the biggest non- institutional trader)

But the post is a blow of fresh air and rare correct attitude. For which you have my utmost respect!
+5% - Wishing everyone had that character.  Definitely some % of people are predators.

General Discussion / Re: Plans to implement white background (day mode)?
« on: December 03, 2015, 02:51:59 pm »
Is there any plan to add white background (day mode) to Graphene?

After staring at Openledger for a while, and switching the screen to Poloniex, I find that Poloniex looks way more professional and easy for the eyes because of its white background.

Graphene's black background is cool for the first 3 days, but I'm starting to get sick of it. I think the de facto standard for any background should be white, including websites, magazines, ebooks, manuals, etc.

Let me know what you think.
+100% - Can't stand black background. 

Tony, you certaintly have a way with words.  Thank you for this poll, it is missing just one option:  "CmdrTaco hasn't adopted BTS yet".

Getting to 80% is my strength, finishing the last 20% is my weakness and has long been the case even before BitShares. BitShares is the single project I have stuck with the longest in my life and which has actually reached a usable product in the hands of thousands of users.   

Everyone wants us to focus on "ONE THING" and I largely agree with that. It had better be the right "ONE THING" though or we are dead. 

My personality type is INTJ ( and I am constantly challening my beliefs and understanding to make things better. I have a very hard time working toward a sub-optimal solution and what is optimal is constantly changing as knowledge increases.  I am smart enough to recognize the value of focusing on one thing as well as the futility of pursuing something to completion that will be outdated by the time it gets there.

I would say that to put my skills to their best use, I should solve problems, prove the concept, and hand it off to people that are good at taking it all the way. 

Anyway, BitShares is a lifelong project that will evolve in the direction this community takes it. It must become bigger than CNX and bigger than me.

That is why we are moving toward open sourcing everything.  Once we open source it, we can continue to improve / develop it together. I have long term plans for it, but obviously need to blend it with short terms needs.

At the end of the day, complaining about others is the least effective means of change. Either do something to help, shut up, or leave.  CNX will do everything we can to avoid being the bottleneck to progress and give the community room to do what is necessary.

BM, It's a good sign that you are self-aware of your strengths and weaknesses.  I think you are good to be partnered with people that can help you with the business/marketing side of things.  You need innovative business entrepreneur type(s) who can help to channel your skills. A plus if they have cash to invest.   :)

Hang in there!!  A lot of progress has been made...It's great to be able to use the wallet and have some gateways/bridges and partners.  Sometimes it seems like it's 3 steps forward and 2 back...but we're still moving forward!!

I admire you.

p.s. Not paid a cent (nor a BTS or brownie either) for that. LOL

Muse/SoundDAC / Re: Order of execution
« on: November 24, 2015, 01:16:49 pm »

so after almost 2 years, still no business plan or general idea how this thing is gonna make money?

 ???  ::)

I think the 'general idea' is getting into a clearer and more practical approach, given the real-world obstacles from the music industry.  'Artist tokens for fan'  is the first step.

Correct. This is merely a way to monetize faster and expand our target market while the spheres that require more get built.

What are the benefits to buying/trading a non-music artist's tokens and how does the monetization work for those cases?

Just trying to understand the non-music use cases(s).

General Discussion / Re: New Stealth Transfer Worker ($1000)
« on: November 23, 2015, 11:49:24 pm »
I really do not get 'the no lifetime fees' crowd.

What is up with you people? Someone making too much money, according to you?

If yes go pay it yourselves, or get up and organize it as a UIA funding that you can buy into...

And keep in mind that I say that while I have only 3 prime suspects for this secret investor - CNX being one of those.

CNX is not one of them, nor is it CCEDK nor Bunker.   In other words, there is no slight of hand here, I just wanted to air the idea without involving them.  Would the mystery investor please speak up if you are ok discussing this publicly?

I approached Stan and Dan with the thought of my paying CNX $45,000 to get the Stealth work funded. This is a huge chunk of my lifetime savings, and it is a huge risk for me to be taking. However, I am in total harmony with Bytemaster's philosophy and goals as far as I understand them and want this project to succeed, and to succeed .

I find that a lot of community members are expecting others to do the work needed to get this project rolling for free or for less than market rates. And out and out jealousy rearing its ugly head in some comments today.
Wow, what an offer from a community member!  Support & Respect!!

General Discussion / Re: New Stealth Transfer Worker ($1000)
« on: November 23, 2015, 06:15:00 pm »
Nice +100% !!

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