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Messages - Lighthouse

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76
General Discussion / Re: Angel Shares Feedback Requested
« on: December 15, 2013, 07:27:15 am »
The important part of mining is people can get something for what they percieve to be nothing but what is in reality a combination of their attention and their hardware's attention.  I think nobody would fault Invictus for taking a % of a new type of Protoshares to fund DACs so long as it's understood in advance thats what it does, and it sticks to its mission even if you really really want to change it.   That doesn't mean it's ok for you to essentially pre-mine the whole thing and auction it while calling it mining.   If you have some, you should be giving some away in a way where people who don't have money to invest can still be invested in your success.  Don't forget the little people

77
General Discussion / Re: Angel Shares Feedback Requested
« on: December 15, 2013, 02:24:31 am »
I agree it's more efficient for funds to go into developing but just as with the trustees proposal this signing authority sounds like central points of failure.  Have you looked at the legal ramifications of having officers of your company imbued with exclusive signing authority and if that changes the assumed unregulated status?  Looks a lot more like something you control if the blocks don't get created without officers of Invictus.

78
General Discussion / Re: Angel Shares Feedback Requested
« on: December 15, 2013, 02:12:35 am »
Aren't you sacrificing the equitable distribution and excitement of the Bitshares rollout?  Now it sounds like you're pre-selling the entire thing, which I'm not sure is ideal.

79
General Discussion / Re: Angel Shares Feedback Requested
« on: December 15, 2013, 02:03:12 am »
100k per week for how long?  Are you proposing to make Protoshares an inflationary currency?   Will current PTS holders represent less than 10% of the eventual PTS supply?

More details needed here.

80
I mean Trustees as central points of failure.  Even with 100 trustees, that's only 100 private keys to capture to completely control the network.

81
Agreed, that is a REALLY interesting proposal. 

Trustees are tempting but I think taking that shortcut will bite us.

82
General Discussion / Re: We've Arrived! David Brin Thinks We're Utopians!
« on: December 14, 2013, 02:58:37 pm »
Did you notice he had a paypal tip jar. I clicked it but paypal said I had to enter a password and stuff. I gave up. We should set him up with a bitcoin account.

lol

83
General Discussion / Re: Large 10+ btc buys on cryptsy today!
« on: December 14, 2013, 02:58:15 pm »
Lighthouse,

Good for you!

You are so smart!

 :) :D

Did you reinvest the "profit", by adding more PTS instead of taking cash?

It is hard to make 1 BTC to 2 BTC, but it is not hard to make $1 to $2 in the digital space thses days.

I am only trading to maximize my PTS holdings when I feel the price is temporarily out of whack. 

84
I'm glad to see Ripple found a way to distribute XRP, that was for sure their biggest problem.  Do you know what % of ripple labs holdings will be distributed in this way?

85
BitShares PTS / Re: [Megabounty Thread] Help Us Write the Protoshares Copy
« on: December 09, 2013, 04:26:02 am »
Who cares about the Momentum algorithm?  The opportunity for the average person to mine has passed.

And I agree my phrasing is not perfect, I'm not submitting this to the bounty but if you're going to bother with the website you should point out the actual advantages rather than just random bulletpoints like every other alt.   Invictus is probably the most advanced company doing work in this space, that should be pointed out.  PTS represents a stake not just of any company but of one that is going to break new ground.

86
BitShares PTS / Re: [Megabounty Thread] Help Us Write the Protoshares Copy
« on: December 09, 2013, 04:10:35 am »
Also, the D in DAC is Distributed, not decentralized

87
BitShares PTS / Re: [Megabounty Thread] Help Us Write the Protoshares Copy
« on: December 09, 2013, 04:10:01 am »
Both Market Valuation and CPU Minable are bad things to make primary pillars.  One is circular, the other no longer really true and it didnt go so much to plan so might be better not to point too much attention.

Better to focus on -

Periodic Payouts
You may have heard of Bitcoin, like Bitcoin Protoshares is a Cryptocurrency but unlike Bitcoin there is a good reason to hold them.  When Invictus Innovations releases a new product, the holders of Protoshares get a piece of it for free!

Pioneering
Invictus Innovations is blazing the trail in Cryptoequities, you're invited to join the quest!  With radical transparency, open source development, new solutions to old problems, ready finance, collaborators and a team to make it all happen.  Protoshares is the cutting edge of Cryptocurrency. 

88
Keyhotee / Re: Keyhotee Launch Parties
« on: December 09, 2013, 02:52:19 am »
Founder IDs make great gifts

89
BitShares PTS / Re: another PTS. and another ..
« on: December 08, 2013, 04:58:44 am »

alt-PTS are inevitable and desirable.  The distinguishing factor of PTS is that Invictus (and posisbly others) will honor its social contract.  Creating a PTS that does not have a company backing it will not be creating a PTS, it will be creating an altcoin. 

So a "clone" is not a clone, unless you consider your neighbors house to be a clone of yours because it is also a house.

Agreed. Others have to create a company or system around a PTS-type of infrastructure. It's not trivial but not too difficult once someone has done the heavy lifting to show the way. Plus you don't need a real successful company to sell a me-too coin backed only by the concept at a me-too price, ultimately at original PTS' cost.
Yes, but those inevitable failures will just increase the value of the ones that really do hold true to the social contract.  It's a natural process.

90
BitShares PTS / Re: another PTS. and another ..
« on: December 08, 2013, 02:48:18 am »
Quote
What if, after Invictus has shown the way, other companies does the same thing and eat your lunch? You can't patent your mode of operations. Other companies could do better than you exactly because it's a free market. Holders of your PTS may as well hold other Invictus-alike company's PTS.

We will invest in whoever we think has the best product while we are building on top of her improvements to our improvements to his improvements. With free, open source software there's no such thing as building a lead and sitting on it. Having competitors to keep the pendulum swinging means a healthy market with lots of investment opportunities for everybody.

That is fine.  It will be a perpetual uphill battle as an business. I guess my question boils down to what your strategy you have to keep your edge.  Technology can be copied and improved by others. PTS' combination of limited supply and interesting prospect (high valuation) just makes alt-PTS more likely to happen.

alt-PTS are inevitable and desirable.  The distinguishing factor of PTS is that Invictus (and posisbly others) will honor its social contract.  Creating a PTS that does not have a company backing it will not be creating a PTS, it will be creating an altcoin. 

So a "clone" is not a clone, unless you consider your neighbors house to be a clone of yours because it is also a house. 

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