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Messages - mf-tzo

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1636
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Whats the coin supply now? I am guessing around 1.8m?

As usual you can check total coin supply here:
http://coinmarketcap.com

Now it's 1,631,027 PTS and with current network difficulty and miners activity we will get + 36,000 PTS in 72 days if nothing changes we will have 1,667,000 PTS at the end of June.

So, almost 25% increase in stake :D

How do you calculate +25%?

In 72 days assuming your assumption of +36,000 PTS there will be 1,667,000 PTS vs 1,840,000 AGS

Therefore you will get 1.08 share per AGS (2.00 mil / 1.84 mil) and 1.20 per PTS (2.00 mil / 1.67 mil) that is 10% more... What I am missing?

1638
General Discussion / Re: What are Karmashares?
« on: April 21, 2014, 11:34:41 am »
I think i read somewhere they have karmashares.me...

Either way I am starting to believe that we should start forming some aliances out there. Karmacoin, dogecoin, digibite are partnership with litecoin. I don't understand the partnership as such but seeing litecoin on the same page with these altcoins that makes me want to buy some of these cheap coins just in case...

However i think that until things are ready we should not do anything with anyone...We are throwing ideas out there and other communities form partnerships and we wait until something is ready.. Let all the DACs finish first and then we can form partnerships..

1639
BitShares AGS / Re: Please stop AGS Bid!
« on: April 20, 2014, 09:04:31 pm »
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Yes but nobody knows that there will be nothing from your side.  You failed. So early adopter are sucker.

@gaba: I can't believe that you feel that way...I feel exactly the opposite. I keep asking myself why I didn't donate more before 28th Snapshot...

If there was a way I would be more than happy to give you 3.5 AGS for every Bitshare X that you hold, so you don't feel diluted  ;)

1640
BitShares AGS / Re: Today .I made a too bad mistake
« on: April 20, 2014, 08:31:10 pm »
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Since the AGS can't be returned, my recommendation is to send back part of his PTS such that he gets his AGS at closer to the average rate.

That is fair.

1641
BitShares AGS / Re: Today .I made a too bad mistake
« on: April 20, 2014, 08:08:54 pm »
My opinion would be to return the PTS to the guy and call it the day...

Today's PTS donators won't be diluted.

Apparantly that was an honest mistake. Everybody make mistakes...The community should show their support!

1642
General Discussion / Re: What are Karmashares?
« on: April 20, 2014, 06:59:28 pm »
I think I like it. I don't think it's a scam but a good way to promote their coin.

Thanks for posting this

1643
I have zero knowledge about mining so I cannot really comment.

But if you define partnership with BC to let the miners mining altcoins and let them choose payout between BC or BTS I don't see why not partner with BTC or LTC or PPC which have bigger communities? What is it so special about BC? If BTS is more profitable the miners will leave BC and BTC and everything else to mine altcoins in BTS mining pool.

Sure they have marketed their coin efficiently. XPM also had a lot of publicity when it came out. So what? BTC falls everything else falls. BTC rise everything else rise...

I think we want to completely differentiate BTS from BTC and all other altcoins outhere..

I might be the person with the least experience in here so everything I say might be wrong but I have not yet understood what is it so special about BC other than good marketing. I feel that once BC is $1-$2, the coin will get so dumped and will die..


1644
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It means you would mine the real PPC, it would be sold on an exchange for BTS which would then be paid by the pool to the miners. Just like how Blackcoinpool does it.

I don't see anything wrong with this and why would anyone object to something like this. I believe it is essential to do it!

I don't believe though that any partnership with BC or any other altcoin has anything to offer.

1645
and another point I want to make is why to form a partership with BC? Who cares if this coin can generate 1% on your saving account? PPC does the same thing. I bought some PPCs waiting to appreciate in value but never unlocked my wallet to get 1%. If I want 1% I stay with current fiat and stocks. And who cares if it they have good marketing? XPM had also some publicity for solving prime numbers was only short pumped but has still not appreciated in $ terms.
BTC falls and all of these coins get hammered. BTC rise and some good coins existing out there rise more %...

The most important thing is to create a multipool for BTS (although as per my previous post I am not sure I understand what mine BTS means) in order to attract the miners from BTC and LTC to BTS and pump BTS price.

BTS supposed to be something completely new and different. Why form any partnership with any altcoin out there? Just convience people of it's value, get the miners on board (who as far as I understand they are the ones pumping the prices irrispective of what each coin does) pump BTS the price to $1,000 and then the whole world will know about it...



1646
Hi,

I have read all your posts  but I am somehow confused with one very basic thing. What do you mean mine BTS? I thought BTS had a specific amount 1 billion BIPS (derived from 2 million PTS and 2 million AGS = 8 million shares). Or not?

Do you mean that you virtually mine altcoins and sell them automatically for BTS? So you effectively mine i.e. BitPPC and sell it automatically for BTS?

Appologies in advance for the very newbie and silly question but I am trying to survive falling from the sky without wearing a parassute  and so far I have missunderstood many things that led me to bad economic decisions...

1647
General Discussion / Re: DAC Country coins
« on: April 19, 2014, 09:17:41 am »
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"3.   X amount of Greekshares will be given away to Greek companies and Greek citizens."

Thats the big problem! How the coins will distibuted! Using AMKA ?  :P

No. The whole point is not to give greekshares to anyone who doesn't understand what it is. Not all Greek people and companies will receive coins for free. The idea is not be a fair distribution!

The idea is to create a big family of people who will be willing to take the extra mile, go to each merchant individually and explain them that they get greekshares for free (which equals to x greekcoins in the future) as long as they accept greekcoin as method of payment. The idea is many merchants to use it. People who convince and educate these merchants will receive a small portion of greekshares for their effort...

Therefore day 1 greekshares worth nothing. But if after 200 days you have achieved to educate and make them accept as method of payment 2,000 or 20,000 merchants, hotels, bars etc... greekshares (=greekcoins) will have a lot of value. People who spent their time to achieve that and investors who believed will get their rewards...In the end of the day we have also helped some unemployed people to have a chance in making some money by distributing the coin. If by the end of 200 days no one wants to use it then we will lose our time and investors their money...

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The problem I see with your idea is that what are you trying to do is just another altcoin. I can't call this a DAC because I don't see how your coin will be profitable.
There's altcoins with county names that are coming up every day, non of them had any success so far, look at spaincoin, chinacoin, auroracoin, they all are dying a slow death and they all will end up in the same place, altcoin cemetery. The problem with this coins is that the only people that are interested are those that are trying to make a quick bucks. Once they make some money they are moving on to the next altcoin.

If you gather together a lot of people whith a common idea " to distribute a coin, educate people how to use it, create a new market of merchants that currently don't know what bitcoin is, give unemployed young people whith skills the chance to participate and make some money if the project succeeds and most importantly give a chance to your country who is constantly f...by politiciens and bankers to have a new asset that might worth a lot in the future and has nothing to do whith any government etc.." then you have created a profitable DAC isn't it? You don't just airdrop a coin... You create a new marketplace and you convince people not to sell it immediately but use it in the future for their transactions. You explain to people why this might be valuable.. I am not very good with words so when the time comes it will definitely be not me try to explain the idea to people.. ;)

You have a company with a group of people with a common cause. If you believe in your cause then you will want to be an initial investor as well. All investors will not be dumpers. They will invest a few dollars in the beggining when no one else will believe, they will acquire as many greekshares they can, they will have motives for this to be a success and they will work hard in order to achieve it...

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So instead of doing just another altcoin. Why not do a Bitshares X with one of the assets being  bitDrachma ?

I fully agree with this but what will be the value of bitdrachma? It will be zero unless you have taken all the above steps to create true value for the coin. Once true value for bitdrachma or greekcoin or whatever we call it is created then ofcourse the concept will be to issue it as bitasset in the Bitshare X ecosystem.

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Please don't take that in the wrong way, this is meant to be constructive. I think your idea is noble and hope it is gonna work one way or another. Are you involved with Greececoin ? https://bitcointalk.org/index.php?topic=516955.0

I am not taking this the wrong way at all. This is exactly the constructive discussion that I was looking for so thank you very much for all your comments!! :)
I am not involved with Greececoin at all... I thought that this was done by Greek developpers in the beggining (and bought a few due to patriotic emotions) but then I realised that it was just another pump and dump coin (actually it never even got pumped i think) by developpers who don't even know how a national ID card looks like...

The only decent effort that I see so far from my country devs is GRcoin which is 0% premined and will be soon launched. Although mined or not I believe that unless we do the distribution of whichever coin in a longer period of time as I have imagined it (Form a big team, greekshares, educate merchants and people, give them coins at a later stage etc..), I am pretty sure GRcoin will also fail due to miners pumping the coin and then dumping it really hard like all the country coins there..

Just to clarify... This is my idea so  far trying to form a team to achieve it. I have nothing to do with grcoin, greececoin,drachmacoin etc. When we are ready it will have a different name than the above..

Please keep your comments comming. I want to understand as much as possible. Maybe I missunderstood the bitdrachma point with Bitshares X.

Thanks again! :)
 



1648
General Discussion / Re: DAC Country coins
« on: April 18, 2014, 01:41:14 pm »
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I guess I am a little confused.  Wouldn't bitUSD or bitDrachma pretty much fit this role?

I am not sure I understand the question... :(

1649
General Discussion / Re: BitShares X Status Update
« on: April 18, 2014, 09:35:19 am »
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Social contract says 10%. Folks donating to AGS after the Fe. 28 snapshot also see the potential of other DACs. The person who promised us something is on track to deliver more than promised over the next few months. I, for one, will continue donating as I want shares in those new DACs, too. Call me stupid, but Bitshares Me, Music, DNS, Insurance, Lotto, etc.  look freakin awesome.

Sorry I was under the impression that Bitshares Me, Music, DNS, Insurance, Lotto will all honor AGS/PTS 50/50. And after these ones the social contract says at least 10%. Isn't that the case?


1650
Thank you very much for the detailed response:
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1. The last I remember they were making Ethereum hyper inflationary and concerned about centralization of power. For this reason I would say as an investor to stay away from the crowd funding aspect as it might not be as cost efficient for you as mining it. It all depends on how they roll out. If they intend to treat Ethers more like a credit currency where you are buying some token to act as a credit for using the services on the network then it will have value but because it's inflationary the value it has will decrease over time giving you no advantage to buying it and saving it. If they treat it as a stock then you would want to buy and save it. I wouldn't have launched the token the way I hear them talking about doing it, I would just forget mining altogether and release the tokens as tokens of credit which expire after a certain date and let the expiration date prevent hoarding while promoting spending.

2. Ethereum is not a competitor to Bitshares Me. While I'm not entirely sure what Bitshares Me is going to be yet, I don't think there is a lot of benefit to Proof of Work mining anymore because it is proven to be centralizing. I think if Proof of Work remains it has to be some beneficial form which provides a social incentive for something rather than what we have now. Ethereum in my opinion is best designed for decentralized autonomous organizations and if I wanted to write my charter, my principles, my constitution into sourcecode, I would definitely choose Ethereum as their niche is digital law and smart contracts.

But if I want a profitable business which isn't requiring complex contracts, conditional rules, and other mechanisms, I would go with Bitshares as it's a lot easier to roll out a blockchain like Bitshares than to have to deal with the risks and challenges of doing it over Ethereum.

For example if I'm trying to set up a social corporation (or a for profit charity) I would choose Bitshares. If I'm trying to set up a decentralized bank and exchange I would choose Bitshares. If I'm trying to do anything which is designed to bring profit to shareholders and be run as a profitable business I would use Bitshares.

One thing I respect about Dan(Bytemaster) is he has an understanding of the present and has the right attitude to survive in the present. Ethereum's technology is great but they are talking as if we already live in a post-capitalist/post-scarcity world where people don't have to work anymore, don't need jobs, and so on. So I see Dan's thinking as more practical while I see Ethereum as the idealists of the decentralization community.

The problem with idealism is it ignores the current conditions society is in while focusing on building utopia. In the current society we live in, to live costs money, which means profit has to be generated not just for our automated businesses but so we the human beings can live, pay our rent, eat and sleep well.

I often see a strange criticism which says if you're trying to do something good for the world that you shouldn't care about making money. Then how exactly are you supposed to spend much time doing something good for the world? How is your charity organization supposed to last if everyone is a volunteer and no one can pay their rent? If everyone has to work a day job and volunteer on the side then you don't get nearly as much done compared to if everyone worked for a social corporation as the day job.

So I agree with Bytemaster that "social entrepreneurship" should be as profitable as "selfish entrepreneurship" and it makes no sense to me why it should be a requirement to hate making money (and capitalism) to use capitalism to better the world. Maybe if people could make money doing it more people would want to do it.

So I think Ethereum is betting on post scarcity, I don't see how a social entrepreneur could make a profit under their scheme. I don't see how investors could make a profit under their scheme. I do see how miners could make a profit, but when you bring in the miners you bring in politics.

I view Ethereum currently as a sort of Not for Profit, and the technology is awesome. For certain situations I will use it and recommend it. But I don't see us quitting our jobs and supporting our living expenses by owning DACs running on Ethereum.

I do see that possibility with Bitshares.
 

That was certainly reassuring that I am on the right team... :)

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