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Messages - Bitcoinfan

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61
General Discussion / Re: Privatizing BitAssets
« on: May 06, 2015, 12:45:25 pm »
This post makes total sense in lieu of Ripple fines coming out...

62
General Discussion / Re: Ideas on Bitshares Referral Program
« on: May 06, 2015, 12:50:40 am »
Do you have a link.  Can you stick it here? I've never seen solaver's proposal.

63
General Discussion / Re: Ideas on Bitshares Referral Program
« on: May 05, 2015, 10:52:20 pm »

For instance if I approach Dell and get them on board, they have no incentive to cut me in.  Instead, they are incentivized to take life time referal fees from all the users they get to download a bitshares wallet and say "thanks little buddy...on your way now. I'll take it from here!" This gives me no incentive to even approach an a big company and in the long run centralizes the voting power directly into the hands of only the large corporations that sign onto this.

At a grassroots level it's intriguing( person to person)  But when your talking about a person to business referral, who's to say in a tiered system dell still wouldn't cut you out.  They would just create a separate account and funnel users there.  To say under your referral,  you would have to offer serious value proposition.  Which I assume most of us don't have.  I think most businesses are indepdent self seeking and wouldn't care about keeping a referral hierarchy in tact unless there was a big time incentive behind t. 

64
General Discussion / Re: Ideas on Bitshares Referral Program
« on: May 04, 2015, 10:25:48 pm »
I've been trying to get a referral program taken seriously for almost a year.

 DAC + Referral Program = Viral Gold

So to flesh out this more:  in your referral program, will applications be restricted only if you have a referral code?  In other words an account can use a bingo app if it has inputted the correct refferral code.  How will we know that app brought users in and also generated transactions?

I'm thinking in the proposal that I outlined, certain businesses like coinbase will restrict their features only to their set of addresses.  That way they can know exzactly how many users they are bringing in and how many translations are coming from their users.  In your referral affiliated code, a single address can have referral codes that overlap with other business codes.  Concern is that over time It's indistinguishable which app is genererating the most activity. 

65
General Discussion / Re: Ideas on Bitshares Referral Program
« on: May 04, 2015, 09:20:41 pm »
Bump.  Thoughts? I'd really like to source feedback on this.  I really think this is a good idea that they community should form an opinion on.  Against my stance that polls shouldn't be used to propose ideas, I also just added one to generate discussion and understanding.  Please vote!

66
General Discussion / Ideas on Bitshares Referral Program
« on: May 03, 2015, 06:26:18 pm »
I'm trying to think ahead to what the referral program will be like because I find it quite intriguing.  Right now I'm piecing together the bits of clues that Bytemaster has been dropping on the members.  So far what I can say it sounds like:

1) Incentive businesses to build on the blockchain by transaction fees.  This would likewise consider a increase in the current .5 bts transaction cost. 
2) Will be a one tier referral, similar to Max's.  Meaning fees will not be distributed in pyramid incentive structure.
3) Ideally, benefits to the business will be based on both users signed up and by transaction volume.  Unlike the standing delegate system, this is a direct performance based outcome.  (eg. Not a performer, your just not paid at all.) 

So right now, since the actual referral program is in the conceptual stage, I'd like to kick a few ideas around which may help guide the discussion and possibly enhance the referral program.

The way I see a business on the blockchain being compensated for their direct contribution is by allowing them to register a specific set of addresses.  A Business would pay a fixed fee for reserving these public addresses and it will be associated only with them.  It could be something like as BTS- COMPANY-XYZ-098jfHB5XMLmzFVj8ALj6mfBsbifRoD4miY.  I believe this was done in the Bitcoin universe for Edward Snowden, where every address that had 1snow delimited in the first few characters was all allocated to him.  Thus we can know any transaction done with these addresses, is linked to this businesses.  Like Coinbase, the Business will have the new users that they bring in subscribe to that particular address.  This allows the Bitshares network to pseudonymously track users and the transactions that particular business is creating.  Any program, such as a reddit/gambling/messaging app, uses only that specified set of addresses. Fees will proportionally go back to the business's bts account.  Sure anybody can sign up to these specially delimited addresses, but its a moot point, since the transaction fee that user created will go right back to the Business.

The vision in the end is to have many different and diverse companies offering a wide range of services.  They each would have their own pet addresses.  How are the transaction fees allocated from here?  Bitshares might distribute transaction fees proportional to first users brought in and also to total transaction volume.  I envision there will be a ultimate list of reserved addresses (btssnow, btscoin, btspts, btsnotes,btsmoon,, etc) sorted first by total registered addresses and then by total transactions.  So really the Businesses that have the most registered users on the blockchain and then to most transactions will receive the largest percentage of transaction fees.  This would align with the goal was not only to get users, but users who are active in the Bitshares blockchain. Its not most registered users (since there could be many empty accts).  Or even most transactions.  Sorting it twice allows for a double performance metric: most transactions after most users.

This are just some ideas I thought the the community should think through.  How practical do you think this is?  What do you think of this type of incentive scheme being implemented into Bitshares?






67
General Discussion / Re: BitAsset 3.0 Concerns
« on: April 27, 2015, 02:35:41 pm »


1) Limit the amount of USD that can be force-settled each day to 1% of the supply.  This would take it almost a year if there were constant redemptions to free the entire supply.
2) When a user requests redemption they are placed in a queue that is filled in the order of redemption with at least a 24 hour delay.     



Do you think 1% is too small?  Especially at current usd market cap of $400k.  It appears peg will track for traded volume up to daily redemption.  So only up to $4,000 will trade precisely to peg, and any other volume greater than redemption amount will be discounted to sell on internal market, depending on how long redemption takes.   So very large sell trade (the other $396k) would be heavily discounted in this outline.  Although I guess that would be the same as the old rule where 99% of full redemption for X days. 

What are the downsides of using 5%-- or even 10%?

68
factset might be good alternative to reuters and bloomberg. 

http://www.factset.com/data/datafeeds/realtime

69
Being upfront when I'm saying I'm not against privatized bitassets.  However  it does seem like if we go in this direction this means Delegate Bitusd and Bitgold..etc will go away.  And this is an area of concern as our our core competency/ advantage will go with it.  Now it becomes something that can be easily reproducible and stolen by other competitors.   Rune himself is building on the pyethereum code base and remarks how fast and easy it is to do. If he, with just an IT background can do this on ethereum, what's to say all the sophisticated features of Bitshares won't also be developed on Ethereum by just causally invested coders. 

And why are you optimistic about the prospects of Bitshares succeeding over other products, when privatized Bitasset feeds can and will likely be copied?  Why do you think Bitshares will have an advantage over Ethereum?  How does Bitshares protect its goodwill?

70
General Discussion / Re: Charles Evans article
« on: April 23, 2015, 04:27:13 pm »
"A trader listened to the firm's "chief" economist's predictions about gold, then lost a bundle. The trader was asked to leave the firm. He then angrily asked him boss who was firing him: "Why do you fire me alone not the economist? He is too responsible for the loss." The Boss: "You idiot, we are not firing you for losing money; we are firing you for listening to the economist." -Nassim Taleb

http://www.businessinsider.com/nassim-taleb-on-economists-2013-12#ixzz3Y9OIsgT8



At the risk of making an appeal to authority I will point out that BitShares X has been reviewed by Dr. Charles Evans  (http://www.pecuniology.com/who.php) who maintains that my economic model is solid.  I only make this appeal to authority to counter the claims that I have no 'authority' because I am "self-taught".   So lets ignore the appeal to authority or lack of. 


71
No like how did you hear about bitshares?  And what things did you hear that got you excited?  What are your expectations as well?


Sent from my iPhone using Tapatalk

72
kenCode. 

I think what your missing is:
Why Bitshares?  And what brought you here?

73
General Discussion / Re: A Toast to Toast
« on: April 20, 2015, 01:11:42 pm »
Pics or it didn't happen. 

74
General Discussion / Re: Privatizing BitAssets
« on: April 19, 2015, 01:22:15 am »
IMO allow a new pegged asset to be created which can earn transaction fees / trade fees for its creator, but still require that 51 delegates agree to list it before it becomes active.

That way all these new feeds are essentially voted in by the community, and the best ones still stand a chance to earn some revenue for their creators via collected fees.

Its an idea worth considering.  I'm more favorable to having a high fixed cost (eg. $1000) and a yearly rent of (eg.$500) to unlock the feed feature in a bitasset.  This "Skin in the Game" by the yearly rent will ensure that only serious players get involved and to flush out those who are unsuccessful and cannot pay rent.  Just like your idea, (albeit its a market guardian vs delegate gatekeeper) I think these costs are necessary for preventing dilution via fragmented index markets.  Instead we will have a better outcome of more focused and purposefully branded UIA's. 

Think of it like registering to be a public offering today.  You have upfront costs filing for an IPO.  And once you have IPO, there are yearly regulatory and maintenance upkeep like 10k, 8k reporting, etc.  These stringent standards will benefit the traders and consumers.   

75
General Discussion / Re: Privatizing BitAssets
« on: April 18, 2015, 09:07:38 pm »
As for people complaining about Bitshares not behaving like a company, what do you expect? We don't view Bitshares as a DA-Company, but as a DA-Community.

I guess being new to Bitshares I got confused with the DAC metaphor in the publicity material.  "Corporation" is most often used to signify a business that acts as one unit.  Most business's internal market is for talent and operations focused groups that helps the business achieve it goals.  Other than that, privatized assets sounds like a fine plan.

Communities and companies are the same thing.  The best ones understand its just a group of people getting together to solve what they think is a fundamental problem in society.  At the end of the day each one can be viewed with the same lens.  Is Singapore herself a Corporation, Country or a Community?  Now the better question, was Singapore better served by understanding it should be run as a Corporation rather than a sovereign nation?   

I think the Bitshares community should have a better discussion how to enable privatized bitassets without diluting  or even outcompeting what is its core offering-- Bitusd.  You guys need to offer more ideas.  Stop passively accepting what consensus is saying (or Bytemaster).  This proposal even though it offers an answer, the answer itself should lead to many better questions.  Should it require a very very high initial fixed cost?  A yearly rental fee (I actually like this idea)?  Delegate only sponsorship?  What other ways can help reduce spam? 

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