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Messages - mf-tzo

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1666
General Discussion / Re: Bitshares Lending DAC
« on: March 21, 2014, 08:33:17 pm »
p2p lending is in the next big thing in fiat. The market skyrocked from millions to billions within 1 month.

http://www.economist.com/news/finance-and-economics/21597932-offering-both-borrowers-and-lenders-better-deal-websites-put-two

Definitely a DAC for p2p lending is a great idea using Kehotee. I understand that there are a lot of outstanding though so maybe not a priority now, but I wouldn't let competition to catch up with something like that. Invictus has to be the first here as well!

1667
KeyID / Re: Newbie question!
« on: March 19, 2014, 09:47:03 am »
Guys I think for someone obtaining google in bitshares DNS is a very bad idea...So when the time comes just let me buy it... ;)

Thank you all very much for sharing your thoughts in my questions.

1668
KeyID / Re: Newbie question!
« on: March 18, 2014, 03:46:50 pm »
Thank you very much Toast!!

Just one question. Why would someone pay a lot to buy a popular name like google if in the future he risk to get legally chased and probably in this world that we live will lose the legal battle?

The question is if chased legally by google in the future why would google win? Because we have violated the ICANN license and have created something completely decentralized probably isn't it? I really want to understand the logic behind what we want to do here and why someone could win that battle in the future..

Again thank you very much!

1669
KeyID / Newbie question!
« on: March 18, 2014, 02:49:20 pm »
Bitshares DNS doesn't have to do anything with ICANN, correct? We don't need any license from ICANN to use .dns or .p2p?

All domain names will be registered in Bitshares DNS blockchain so anyone who wants to use that domain name will have to use the Bitshares program?
So this is something completely different from the current internet? if i have zeus.dns and someone types zeus.dns in the explorer nothing will come out?
Only people who use the bitshares blockchain wll be able to see zeus.dns? Even if i buy google.dns, Google will not be interested to buy that name unless Bitshares DNS becomes popular? Or I am not allowed to create google.dns? If I am allowed to created google.dns and in the future bitshares DNS becomes very popular google will probably chase me legally isn't it?
Will there be only zeus.dns or could also be zeus.p2p, zeus.lol etc?

Please someone explain in very very basic terms how this will work so i get a better picture. That is all new for me... :(

Thank you very much!

1670
KeyID / Re: TLD discussion
« on: March 18, 2014, 12:00:06 pm »
 +5% for the .p2p

I have some silly questions and I might not been able to express them correctly:

If I buy or create the domain name zeus.p2p will this be reflected in the usual internet world? I mean will there be zeus.p2p as an internet domain name and someone might want to pay me $ to get that name? I assume yes but then...
I can buy google.p2p (which doesn't exist) and definitely someone will buy it at some time and if not anyone in here, google will do so in the future...

Again apologies if this is stupid but I want to have it clear in my head of what we are doing...

1671
General Discussion / Re: BitShares X Status Update
« on: March 16, 2014, 04:12:42 pm »
Quote
I am a bit lost...A couple of questions:

1. As far as I understand holding AGS / PTS now will give me at least 10% from PTS and at least 10% from AGS on all future DACS including i.e. Bitshares ME and that's why they still have value. Correct? But if that's the case everytime there is a new DAC released their value will drop and drop...Correct? Unless I3 decides to say at some point that a new DAC will honor more than 1:1 the new shares to AGS/PTS Holders which i think would be unlikelly?Or not?

We make the software for each DAC family freely available to everybody who wants to develop a specialized member of that family.  These developers set the % of their DAC that will go to AGS and PTS holders.  If they do less than 10% to each, III will not support their DACs.  Further, we will support their competitors who give better deals to AGS and PTS holders.  If two release versions of a DAC family and one does 10/10 (and keeps 80%) and the other does 40/40 (and keeps 20%), who will this community support the most?  Market pressures will favor the most generous developer.

Understood thanks

2. The exact % of Bitshares ME honored by holding AGS/PTS will be announced when? A couple of weeks earlier before Bitshares ME is expected to be launched?

DAC families are franchises - free open source toolkits from which other developers can construct and release DACs.  Each developer gets to set their own release schedule and DAC parameters.  We work to find and encourage developers and remove obstacles from their paths.  This model leads to decentralization of the DAC industry and keeps Invictus from being a limit on industry growth.  PTS and AGS value will grow as more credible DACs are announced and fall after the value is transferred from PTS/AGS to the DAC at each new snapshot.  Think of PTS as a battery that charges up and then discharges each time a new snapshot is taken - like a camera flash charges and discharges.

I understand that. However that does not answer my question. Bitshares ME will be honored by my stake in AGS/PTS, by my stake in Bitshares X or by both (if i understand correctly point 3 below bitshares Me is completely irrelevant from Bitshares X)? and when do we expect the split to be announced? A couple of weeks before Bitshares ME is honored? a couple of months?

3. Holding Bitshares XT will also give me a % percentage of Bitshares ME as well before it is launched? The exact % again to be announced or it is 1:1 allocation? Or depends when it is released? Basically how do we estimate that % everytime there is a new DAC release?

BitShares XT is the franchise for Bank and Exchange DACs.  It has no effect on BitShares ME or vice versa.  We will make the ME chain available to developers as a spinoff using some of our early BitShares XT technology.  You will need to evaluate what other developers are offering to develop a ME chain from this toolkit.  We know of one who appears to be planning to launch a chain this spring, but it is up to them to convince this community that they should be supported and to defeat any competitors who may emerge for them.  Watch for their announcement when they are ready.

Which developer do you refer to? Where can I find information about this developper? I think I have read something as an alternative to Bitshares XT, but didn't convience me so I just didn't bother to go in more detail there.Are you reffering to that one? Or something else? when can a newbie like me find this kind of informations if these are not posted here? If you can advise it would be nice. If not it is still ok and understandable..
Also I understand that Bitshares X will give me shares from Bitshares XI and then Bitshares XI for Bitshares XV and so on. Do I understand this correctly? Is it fair to assume therefore that once the snapshot for Bitshares XI will be made the price of Bitshares X will decrease (as this happened now with PTS/AGS after the snapshot since their value was transfered to Bitshares X). This is very important point for me to be clear, so please advise. 

4. When Bitshares i.e Bingo is launced then the new shares will honor at least 10% AGS/PTS, x% of Bitshares X (how do we calculate this), and 1:1 of Bitshares ME? and so on...?

We will release a simple toolkit for a lottery franchise from which others can derive any number of new and exciting games.  Watch to see who announces an intent to compete using this DAC family toolkit.

Again how can I watch who announces an intent to compete using this DAC if it is not announced here?


Please see my questions in red. THANK YOU VERY MUCH FOR YOUR REPLIES!!! I surelly Appreciate a lot that you spend your valuable time replying to my silly questions..The reason many times I ask silly questions is because I am very new to cryptocurrencies, I don't have much IT knowledge and it is very hard to understand all this concept of DACs and how things work.But I am trying to learn...Finally, I want to say that I have read a lot of complaints about how you guys don't communicate well what you are doing, that things don't work as expected, that you need a better marketing and so on...What I have to say is that since I understand much better things than a couple of months ago and since I am still fully supporting PTS and I3 and this community rather than XCP or Mastercoin or Next or Ripple, I think you are doing a very good job marketing wise and getting the information out there. I think you have built a great community here and others can try to beat that but they will fail! The monthly news letters are also amazing so looking forward to receive the March one. Keep up the good work!Thanks again!

1672
General Discussion / Re: My visit to I3: Status update and thoughts
« on: March 16, 2014, 12:55:41 pm »
@ Toast, when you say "school" you mean "high school" or university? How old are you? I am only asking out of curiosity. Either way I am amazed how many genious minds exist out there and I am very happy I am following you guys since the beggining...

I am in my mid 30s, i have studied economics, work as a Treasurer in a company and still can't follow not only your tech discussions (which is normal since my IT knowledge is crap) but also your economic discussions some times...

For what is worth, I would definitelly choose to work for I3 rather any other company in the world right now. These guys will change the financial structure of our world. And if they don't it will be a hell of a ride. And with your skills if I3 fails, I am sure you will be able to find easyly a work in any company you choose in the future.

Life is short and if you are so young I suggest take the risk...I am in my mid 30s and I still haven't managed to support a good life and have some money aside, just because I was always very risk averse...






1673
General Discussion / Re: BitShares X Status Update
« on: March 16, 2014, 11:26:08 am »
I am a bit lost...A couple of questions:

1. As far as I understand holding AGS / PTS now will give me at least 10% from PTS and at least 10% from AGS on all future DACS including i.e. Bitshares ME and that's why they still have value. Correct? But if that's the case everytime there is a new DAC released their value will drop and drop...Correct? Unless I3 decides to say at some point that a new DAC will honor more than 1:1 the new shares to AGS/PTS Holders which i think would be unlikelly?Or not?

2. The exact % of Bitshares ME honored by holding AGS/PTS will be announced when? A couple of weeks earlier before Bitshares ME is expected to be launched?

3. Holding Bitshares XT will also give me a % percentage of Bitshares ME as well before it is launched? The exact % again to be announced or it is 1:1 allocation? Or depends when it is released? Basically how do we estimate that % everytime there is a new DAC release?

4. When Bitshares i.e Bingo is launced then the new shares will honor at least 10% AGS/PTS, x% of Bitshares X (how do we calculate this), and 1:1 of Bitshares ME? and so on...?

Thank you very much for the replies in advance!!


1674
General Discussion / Re: We need product demostration videos just like this
« on: March 09, 2014, 01:25:22 pm »
 +5%

1675
General Discussion / Re: BitShares XT - Security against Market Manipulation FIND ATTACKS FOR TIPS
« on: March 08, 2014, 08:31:59 am »
Probably irrelevant and I am again missing something here but...

If I go long in x amount and then I go short in y amount this should lock a profit or loss for my self not affecting others...

If I am long 100 BitUSD and then I go short 50BitUSD effectively I am only long 50BitUSD. Since I am long there shouldn't be a need for collateral and vice versa if I was oveall short and it goes oposite I should cover with Bitshares collateral.

When a user takes oposite positions the system must recognise that these trades relate to the same user and match them in his account. Isn't that the case?


1676
General Discussion / Re: BitUSD as collateral
« on: March 06, 2014, 10:56:32 pm »
thank you for the reply. Well understood!


1677
General Discussion / Re: BitUSD as collateral
« on: March 06, 2014, 09:00:45 pm »
I don't get that...

If someone can take a short position in BitUSD/BitGold and use as collateral BitUSD where does Bitshares come in to play? Why would bitshares would have any value then?Nobody is going to use them... what I am missing here?

As far as I understand bitshares is the internal value of the clearing  house (Bitshares X) in exchanging IOUS between users.

It's value derives from the fact that people are willing to trade them since it is a way of honorring the IOUS.

More people are willing to place bets using bitshares about the future value of the different assets, means more people will want to buy bitshares from the exchanges and therefore bitshares price rise. if you can use other form of collateral than bitshares then the only reason someone would hold bitshares is for transaction fees? How does this work?

I am trying to understand all that but it is really confusing. If someone can present below with very simple examples the different options available for someone holding bitshares it would be very helpfull to better understand things.














 

1678
General Discussion / mining PTS
« on: March 04, 2014, 08:25:57 pm »
Hi,

I don't know anything about mining so I am probably asking a silly question... I have purchased some cloud GHS from CEX.IO but I don't want to use them to mine BTCs. Is there a way I can use these GHS from CEX.IO to mine PTS?

I assume no, but wouldn't hurt to ask anyway...


Thanks!

1679
General Discussion / Re: which will be the next?
« on: March 03, 2014, 06:03:17 pm »
I really like the idea to play chess and the winner takes the pot!!

1680
BitShares PTS / Re: Price
« on: March 03, 2014, 10:05:17 am »
Thank you all for your feedback on that. I fully agree with all of you...I am not panicking and I am also trying to buy now as much PTS I can...

What really bothers me is this huge amount of speculation across the globe. Speculation is good but in this degree as it happens nowdays is bad. High Speculation is the mother of all bad things and is responsible for the destruction of the modern capitalism. In the past, investors wouldn't mind to keep their stocks for a couple of months and also years rather than dumping them upon the release of a new product, news etc...Investments were more stable. Nowdays with the speed of flow of information and all the alternatives investors think that keeping their money for a day in a stock that gives them nothing for a day is a lost day and they try to place them everyday to something else that will give them something...This is how we got here today.This is why Lehman collapsed and we have this economic crisis. This is why my country (Greece) is in debt. I believe that investments should be based on economic fundamentals and not on high speculation.

Having said all that I wouldn't mind if PTS drops to $1. I will sell my car to buy as many as I can...


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