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Messages - Pocket Sand

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76
Quote
The Cons of Proof-of-Stake?
1) How to distribute coins?  Many options here.
This is quite a bit of a question really. Mining works to distribute coins efficiently and allows anyone (with varying amount of course) to actually create the coin free and anonymously. One of the foundations promised of Bitshares is that it will be decentralized, I am not sure why you feel the need to take the initial foundation of incentivised mining out of Bitshares rather than focusing on more logistics of the idea of Bitshares as a whole.

77
General Discussion / Re: An approach for engaging the non technical
« on: December 01, 2013, 06:50:26 am »
I had a chat to Invictus, a couple of days ago, re drawing up a one page sheet/flyer/pdf that could explain to non technical people and newcomers to the cryptocoin world what Invictus offer.

A couple of sentences on each 'product' DACs, Bitshares,Protoshares etc

In my opinion it also needs to be fairly simply written so that it can be easily translated in other languages.

Invictus already have a flyer for Keyhotee Free Space, see http://static.squarespace.com/static/51fb043ee4b0608e46483caf/t/5270bd60e4b04f272062ebdd/1383120224597/Keyhotee%20Free%20Space%20Flyer%202.pdf

The problem is that a lot of non technical people just don't seem to grasp crypto currencies and how they can revolutionise the world because most have bought into the fiat model and can't see beyond it.

A lot of people can't even understand the concept let alone products available and companies that enhance the cryptocoin system.

Also as it can be quite difficult to get started - just buying bitcoins can be an issue - non-techs just switch off.

So essentially it is finding away to express in very simple terms what is on offer.

The technical people need to capture the imagination of the non technical.

I aim to have some suitable text ready by the weekend - wind turbine and computer issues willing...long story.

I would appreciate comment and critic from all.  Not too brutal please.

Hopefully if it is any good Invictus could take the flyers to conferences etc

One thing I would like to add at the end is some comments by the forum members on what the Invictus products mean to them.

Just post them on this thread.

(as an aside I listened to a really good podcast by Cliff High on Red Ice Creations about Bitcoin/ bitcoin concept - including a very good non technical summation of what Bitcoin is - see www.redicecreations.com - if you are interested).


Cheers

kw

One technical idea which can help is to come up with a meme DAC which rewards for creation of the best memes. If a meme goes viral then everyone should make a lot of money.

But I don't know how it could be pulled off, perhaps a prediction market where people bet on which meme will go viral and if they guess right they make a lot of BTS?

You have to find ways to align the incentives to produce what you want in the market.

This specific idea would be difficult to pull off as factors that help determine if something goes viral (such as views and votes) can easily be manipulated or frauded. Creative thinking though luckybit  :)

78
Marketplace / Re: WTS 1000 PTS @ 0.011 BTC
« on: December 01, 2013, 02:43:00 am »
Should always go by escrow you guys  :(

79
General Discussion / Re: Problem with http://www.btc38.com/
« on: December 01, 2013, 02:12:12 am »
The website is back up, you may need to contact them again but it's functioning

80
General Discussion / Re: An approach for engaging the non technical
« on: November 30, 2013, 05:05:30 am »
Will the difficulty increase over time for Keyhotee?

81
Wow, some great themes..  Master, your gona have a hard time picking..
Yup, great turn-out with skilled graphic designers, invictus-innovations and tradebitshares.com really needs an update as well  :)

82
Thank you your clearing that out, Pocket Sand!  :D
Not a problem man

83

Quote
There is no 'conversion' between ProtoShares and BitShares... everyone will immediately have BOTH ProtoShares and BitShares.  Your BitShares are kind of a 'dividend payment' on your ProtoShares :).    Therefore, there is no cost or conversion to create BitShares from ProtoShares and in fact your ProtoShares will remain valuable for future DACs.

Hi, Daniel! Quick question: will Bitshares value be awarded to the same Protoshares address or through a Bitshares address? If the latter, how could one (assuming one has PTS accumulated) claim the 1:1 value? Thanks!

I can answer this one for you, Daniel had mentioned earlier that you will be able to import your PTS wallet with your BTS wallet and receive one bitshare for every protoshare you hold while still maintaining all your Protoshares. So basically if you had 100 Protoshares when bitshares are released, you'd import your wallet and you'd now have 100 Protoshares and 100 Bitshares.

84
Keyhotee / Re: Are there any whitepaper for Keyhotee?
« on: November 29, 2013, 01:18:34 am »
Just for quick reference, this works as a great reference paper for the ideas of Keyhotee explained by Daniel Larimer (Bytemaster): http://www.youtube.com/watch?v=3pZaTdEtK-8

85
Keyhotee / Re: Screen Shot
« on: November 29, 2013, 01:16:16 am »
Props to the development team, great job

86
+1 for howardroark's design, really clean design

87
General Discussion / Re: BitShares source code?
« on: November 29, 2013, 01:09:05 am »
last commit was a couple hours ago ..
https://github.com/InvictusInnovations/BitShares/commits/master
Thank you! I couldn't find this anywhere

88
General Discussion / Why Dividends?
« on: November 29, 2013, 01:06:32 am »
I was wondering as to what the incentive of paying out dividends for BTS owners would be?

Also I was unclear on how much dividends BTS owners receive over time, I read the post where you mentioned it was by blocks mined?

Let's say you hold 100 BTS and 1000 blocks (we'll assume each block has a solid 50 for this example) are mined on the network, how many Bitshares would you gain by holding these initial 100?

89
General Discussion / Re: PTS price has surpassed LTC price on BTC38
« on: November 29, 2013, 12:54:02 am »
PTS is totally different from other cryptocurrency, its not suprising to me to see it running away.  Bitcoin is really "expensive" by the estimation of most observers, so these other "cryptos" are just as good since they're so undervalued compared to Bitcoin.  Litecoin has long been called the silver to Bitcoins gold so the analogy makes sense and the upward price pushes them all up as a rising tide lifts all boats.


The market is as frothy as i've ever seen it, this is money spilling from bitcoin into everything around it.  PTS is not around Bitcoin, PTS is new and unique and frankly hasn't had the best public entrance so it doesnt have good hype  surrounding it except to the core believers.  Once Invictus delivers something expect a whole new ballgame, until then it's just another altcoin nobody owns.

I couldn't agree more, if Invictus is able to make good on their promise for  Keyhotee/Bitshares/Other DAC's, then PTS will skyrocket.

90
General Discussion / Re: BTER PTS Withdrawals Held
« on: November 28, 2013, 08:23:31 pm »
Any updates on this?



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