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Messages - smiley35

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1
General Discussion / Re: ripple rally
« on: November 26, 2014, 05:57:32 pm »
Ripple is a great project but I'd like to understand better why Ripple currency (XRP) is needed there. As I see, the gateways use other existing currencies, either fiat (USD, EUR, etc) or crypto (BTC), and XRP is needed only if you want trade an exotic pair for which a market doesn't exist. Other than that, holding XRP gives no interest or dividends and it's not likely that XRP will be accepted by merchants even if the Ripple project succeeds. Am I missing something?

There are a few places in SF that accept XRP.

2
General Discussion / Re: NuBits
« on: September 23, 2014, 03:24:16 pm »
biophil: thats nubits not nushares

svk: Any info on when? It seems they are selling
(their version of) bitusd but withholding btsx for the moment.

smiley: explain? They're selling NuShares (NSR) for NuBits (NBT). NuBit is pegged to USD, so they're selling NuShares for USD. What am I missing?

I was just saying that the link to the market was for nubits

I did not realize that you had to go through nubits and bit message and be screened to get nushares until oco101 pointed it out. Thanks for the info everyone.

Hope any speculators sold on the news.... I stayed completely out of all of this.

3
General Discussion / Re: NuBits
« on: September 23, 2014, 03:19:46 pm »
biophil: thats nubits not nushares

svk: Any info on when? It seems they are selling
(their version of) bitusd but withholding btsx for the moment.

4
General Discussion / Re: NuBits
« on: September 23, 2014, 03:07:05 pm »
Quote
Their community is almost non existent. Check out their forum http://www.peercointalk.org/index.php?board=3.0

Our official forum is discuss.nubits.com

There wasn't much to talk about since we've been almost totally silent about the project until today. We know there's a lot of talented and educated individuals involved with BitShares. If you all would like to discuss NuBits with the dev team stop by our forum.

We have a busy day of getting everything sorted out. see ya!

cg

Can you address sfgfd's post?
http://www.reddit.com/r/NuBits/comments/2h8bdk/where_to_buy/

5
General Discussion / Re: NuBits
« on: September 23, 2014, 02:54:27 pm »
http://www.nubits.com/

It's live. Seems to be a pegged asset. Do I miss something?

I hope you sold the news... -11% on peercoin

That's exactly what just I did.. and just in time because it keeps dropping.

Doubled my investment of $4 from a few weeks ago. That was of course before I knew about BitSharesX. I'm smarter now. :)


Again, referring to the press kit link I included above, the Nu system has very heavy reliance on voting. The way they reduce NuBits supply is clever, but my guess is it won't hold up to high volatility. This is a huge departure from the BitSharesX system. NuBits supply is reduced by paying variable interest on "parked" NuBits; if a NuBit is parked, then it is effectively removed from supply, but it accrues interest. This interest is set by a literal human vote, and there is some strange system of time periods in which votes are taken. And they called BitSharesX "Fed 2.0"...

The interest rate can be increased only by 1% per period, but decreased all the way to 0% in a single period. This strikes me as a bit hacky. One thing it means is that if NuBits ever require a huge supply contraction, the network will not be able to make it happen.

It does indeed sound hacky. On top of that, without an ecosystem (i.e. a corresponding DAC) like BTSX, it seems like a pegged asset is of limited utility.

I don't know... I'm more of the opinion that a pegged asset is really the holy grail. I'm not sure what BTSX does that NuShares doesn't. I mean in a high-level community sort of way. To the spending public, if it has stable purchasing power, it's all it needs to be.

It's now clear that NuBits is the first true competitor to BitUSD. The race will be decided by these three factors, in no particular order
1. Community
2. Interest paid on the asset
3. Price Stability

For point #1, NuBits has all of Peercoin behind it; but I think the BitShares community believes in a better story than Peercoin.

For point #2, BitUSD yield comes from a fundamentally different source (trading revenue) than NuBits interest (central bank-style interest rate incentive).

For point #3, time will tell.

Their community is almost non existent. Check out their forum http://www.peercointalk.org/index.php?board=3.0


6
General Discussion / Re: NuBits
« on: September 22, 2014, 05:06:29 pm »
Has anyone scoped the boards on their forum? The peer coin/primecoin community is almost non existent. This makes me think that they have a fishy market cap similar to ripples. http://www.peercointalk.org/index.php?topic=2731.0 I found this on their forum, I guess one address is staking 25% of the new coins.

You read my post wrong. That address generates 25% of new *blocks*.  Those blocks are generated by many small stakes so the reward tends to be small, too. The address doesn't generate more new coins than its share of Peercoin money base on average.
The biggest Peercoin addresses are probably owned by btc-e.

huh? I'm very confused.

Edit: Ohhhhh I get it, its like forging nxt in small amounts from tons of different addresses right?

7
General Discussion / Re: NuBits
« on: September 21, 2014, 12:49:31 am »
Has anyone scoped the boards on their forum? The peer coin/primecoin community is almost non existent. This makes me think that they have a fishy market cap similar to ripples. http://www.peercointalk.org/index.php?topic=2731.0 I found this on their forum, I guess one address is staking 25% of the new coins.

8
General Discussion / Re: BTSX 0.4.13 was just posted by DAC Sun
« on: September 10, 2014, 05:29:13 pm »
My client won't connect, what do I do?

It just has a grey bar across the bottom that says not connected. I updated the client and updated again in the client, and agreed to also reindex the database.

9
General Discussion / Re: Market Report
« on: September 10, 2014, 06:36:18 am »
Yeah what are you getting worked up about tonk? I really don't get it. Who cares how many units exist if your going to receive a fixed percentage. It doesn't matter how many of this alt or that alt you own, its about what % you own, everything else serves to trick noobs. I'm pretty excited for this project!

Edit: oh I get it. I was thinking in terms of AGS/PTS, but you were thinking the crowdsale. I still don't understand where you are coming from though, this seems like one of the better allocations of a blockchain to me.

10
Right when I heard of Nxt I dismissed it because of its name simple as that... its not going anywhere.

Bitshares = bitcoin but with shares... its an easy transition from bitcoin. Sorry but no matter how innovative nxt is its not going to achieve a household name with the silly title. Anyways it was enough for me to dismiss it and not buy or want to develop, and im sure many others... in your own words not trying to spread FUD just speaking the truth. Gluck!

Same here, I decided not to invest after reading through their IPO...... Wish I would have invested..... could have bought a lot of AGS

11
General Discussion / How to import electrum wallet
« on: September 08, 2014, 10:20:44 pm »
Hey everyone. I was wondering how to import my electrum wallet into the btsx client. I exported my priv keys and pointed the client at that but it didn't work. Not sure exactly where my wallet.dat is for electrum.

12
I'm willing to help on the ground from San Francisco.

13
General Discussion / Re: What is BitShares mail?
« on: September 06, 2014, 08:32:16 pm »
I support tipping after the fact.

That's what I prefer as well, but I feel it hasn't been working for me -- I've done lots of positive things here and I've seen nothing for it (except, as I said, a single 10 BTSX tip for a specific instance of direct technical support).

Just tipped you!

thanks for supporting the community I care so much about!

14
General Discussion / ivn.us
« on: September 05, 2014, 11:56:29 pm »
http://ivn.us/2014/09/05/future-voting-decentralized-cryptographically-secure

Anyone see this? Bitshares mentioned a few paragraphs in, right under the first big quotes.




Quote
A few organizations are currently working to develop such decentralized, trustless voting applications. One of these groups is Follow My Vote, a first wave organization in a set of many that will present decentralized, blockchain-based voting solutions over the next few decades.

I recently had a chance to speak with CEO and founder of Follow My Vote, Adam Ernest, and he discussed his organization’s efforts and how the software will function.

“What’s really most important in any election is who counts the votes,” he said. “In other words, those who control the ballot box, meaning the person or persons counting the votes within the ballot box and reporting the vote totals of an election, are really the ones who control the outcome; whatever they say it is, it is.”

“The only way you can truly be assured that the reported results of an election are accurate is if you actually have the opportunity to audit the ballot box and count the votes yourself. It comes down to the honesty, transparency, and trust that our system provides, which the existing voting systems can’t offer. That’s the real benefit of decentralized voting applications.”
Follow My Vote is building their decentralized and anonymous voting platform in the form of a Distributed Autonomous Corporation (DAC) that runs on the BitShares platform.

All votes are recorded into the publicly verifiable transaction ledger and every participant can track their vote and see that it was applied correctly. Votes are verified for authenticity by a group of delegates prior to being recorded in the block chain.

15
General Discussion / Re: What is BitShares mail?
« on: September 05, 2014, 11:37:58 pm »
Whats your pts address?

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