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Messages - nomoreheroes7

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316
General Discussion / Re: Discussing an attack on BitUSD
« on: May 23, 2015, 05:40:57 pm »
https://bitsharestalk.org/index.php/topic,16498.0.html

Fixed in the next release.

Quote
Under normal conditions, the futures market should be stable. You might see some spikes every now and then and perhaps some margin calls being made on an infrequent basis, but the market should track the proper values.

However, it is also possible that a market might have a tipping point - a price at which a snowball effect might take place. Lets say the current market is like this:

    The current price is 100 BTS per BitUSD
    It takes:
        10k BTS to move the price from 100 to 200 BTS per BitUSD
        10k BTS to move the price from 200 to 300 BTS per BitUSD
        10k BTS to move the price from 300 to 400 BTS per BitUSD
    When the price:
        Reaches 200, 5k BTS will be used on margin calls
        Reaches 300, 15k BTS will be used on margin calls
        Reaches 400, 25k BTC will be used on margin calls

If we throw 5k BTS into the market, not much happens - we moved the price a bit. If we throw 10k BTS, we force the market to spend another 5k BTS. We moved the price by 100, and the margin calls moved it further, multiplying the strength of our move by 1.5.
Excerpt from the blog, I hope that's ok

Dan discussed this in the dev hangout yesterday.
From what I understand; in the new system there will be several price feeds that take the liquidity available at a particular price into account.
So if you want to sell a large amount of bitUSD on the market you will not have the same 'snowball effect' power as in the current bitAsset design.
So the 'attack' described against bitUSD in Piachu's blog should be fixed in the new release.

317
General Discussion / Re: ALL TIME LOW .
« on: May 22, 2015, 04:06:04 am »
I hope the price continues going up so fast that bears in this thread cannot get back in. :)

Lol ander you're loving this right now.  :D

318
Random Discussion / Re: The Crying Bears Thread!
« on: May 21, 2015, 04:40:33 pm »
...is that bear missing a chunk of its face?! Must be getting brutal out there for dem bears...  :D

But yea, pretty sure we'll never see 0.02 CNY shares ever again. Hope y'all bought when the buying was good. (Hint: there's still time.)  8)

319
General Discussion / Re: Staff Meeting Notes - Until Further Notice
« on: May 21, 2015, 10:26:36 am »
Yeah, all we're missing is some juicy specs and blurry photos of the supposed product. ;)

Fortunately, we have a receptacle for such materials: bitshares.leaks@gmail.com

No need for that, I have the inside scoop for everyone. I found a sekrut repository on teh github's and here's a screenshot of v0.9.9 along with the top 3 new features Stan & Dan won't talk about.



That's hilarious. My sides.

320
General Discussion / Re: Nice inverse H&S formation on the chart.
« on: May 12, 2015, 10:16:37 am »
Good call Ander. Look at that baby soar!

321
Stakeholder Proposals / Re: Paid Workers Proposal for Review
« on: May 10, 2015, 03:18:15 pm »
this idea maybe is good , but we cannot change any rule, so it is useless, stop to discussing it , I had loss much, I don`t want to lose all



 +5%

We need to distinguish between property rights (which should always be secure) and system functionality which must continuously advance, or die.

The minute we decide that we cannot change to stay the best, a competitor will emerge that does not suffer under those constraints. 

Would you really want the results of our latest R&D to go to a competitor because BitShares cannot change to incorporate it?

Otherwise, BitShares would suffer the ultimate fate of Bitcoin.  Stuck roaring in the tar pits, failing to adapt, unable to compete.

Ultimately it is for the shareholders to decide.  But the choice is never simply whether to adopt a new technology or not.  It is always whether we want to allow some competitor pick it up and use it against us!

This. Adapt and evolve, or stagnate and die. It's that simple.

Gotta do what you gotta do.

322
Nxt, Doge, and BTS all have ATH's around $90 million market cap, and all three are trading between $8 - $9 million cap today. At least we're not alone.  :P

A turnaround can happen in the snap of the fingers. Best to be well-prepared and HODLing when that time comes.  :D

323
Stakeholder Proposals / Re: Paid Workers Proposal for Review
« on: May 05, 2015, 04:05:24 pm »
Plenty of code being developed off line to maximize the huge lead BitShares is building on its competition.

All of the concerns people keep expressing are being addressed in a far, far more comprehensive way than an outside observer could possibly imagine.

Would you really want us to abandon our carefully designed comprehensive solution to run off after every angry demand someone posts in bold print? 

This is a chess game and sometimes a player needs to make a few "pointless" moves in advance that the average kibitzer doesn't fully appreciate at the time.

 :)

Sure have been a lot of hints lately at something huge in the pipeline...hope the wait (and cheap BTS) are worth it.

324
Yeahhhhh DACx. Awesome.

325
General Discussion / Re: ALL TIME LOW .
« on: April 30, 2015, 10:13:47 am »
YES! It feels like the first morning in a week that I didn't wake up to see the price crash down to oblivion during the night!

BULLISH! We've reached the trough of sorrow! The bottom is in! The time to buy is NOW.

 :D

326
Stakeholder Proposals / Re: Please vote for KenCode's delegate
« on: April 29, 2015, 08:56:18 pm »
Absolutely, KenCode is a machine.

Vote!

 +5%

327
General Discussion / Re: Coinmarketcap 8th place Bitshares 8,5m
« on: April 29, 2015, 08:54:41 pm »
It's true ahah maybe because of that I don't worry about the price too much, because I don't care about short term profits and invested ready for the long term.

To be honest I only worry about one thing with these low prices, is how can they affect delegates and development. As long as delegates have enough money to accomplish what their milestones I'm at ease.

This most accurately parallels my position as well.

I was just talking with a VC today who is in the process of buying a fiat exchange and is interested in funding us to integrate.   Funding developers is not going to be a problem. 

In reality these low prices are HELPING us attract VC money because they can buy in and capture a stake.   

While this is what I would suspect to be the case (and for those that care about $$$ ROI first and foremost - consolidation of holdings into a handful of big guns might be beneficial)

What I worry about is how much ideology we might lose in the transition.


I believe in the ability and integrity of bytemaster and the rest of the Dev team, but I am also bothered by the relative absence of Toast, as I viewed him as the Bitshares Devs most transparent ideological indicator.

Toast may be coming back to the fold this month... stay tuned.

If that's not something to get bullish about then I don't know what is!

 +5%

328
General Discussion / Re: Coinmarketcap 8th place Bitshares 8,5m
« on: April 29, 2015, 06:33:46 pm »
My biggest concern is how we are going to fund developers when the donations dry up. Delegate pay is nowhere near enough now and only getting less and less. There is clearly very little disposable income left in the space else moonstone would have been funded by now.

Shouldn't we be reaching out to VC's? Why aren't VC's buying Bitshares with it's potential to be so lucrative?

It's honestly getting to the stage where I don't know if I'm just crazy or the rest of the world is blind...

Probably both

I was just talking with a VC today who is in the process of buying a fiat exchange and is interested in funding us to integrate.   Funding developers is not going to be a problem. 

In reality these low prices are HELPING us attract VC money because they can buy in and capture a stake.

 +5%

329
General Discussion / Re: Coinmarketcap 8th place Bitshares 8,5m
« on: April 29, 2015, 05:26:40 pm »
BTC is even bigger disappointment than BTS. It's failure reflects on all altcoin projects.

And now it's super hard to raise money for such cool projects like Moonstone. Alas, just a half and a year ago people were giving away 100+ BTC to scammers at BTT and now they can't spare a few for a killer wallet, wth.  >:(

This. It's bitcoin's massive bleed-out over the past 1.5 years that's truly at the heart of all this bearishness. And honestly it only looks like the trend will continue downward with bitcoin. The only things left to look forward to are the ETF and halving next year, but I'd say there's a good chance those are already priced in anyway. These events will probably be used as an excuse to pump the price up a bit, but will be followed by a long bleed-out period all over again.

BitShares has the potential to be everything bitcoin wants to be and a hell of a lot more. That's why I'm still here, and hodling to the bitter end.

330
General Discussion / Re: How to regain confidence?
« on: April 29, 2015, 01:37:25 pm »
I've bought 700k BTS this week.

I dodged a bullet. I dipped my toe in again with >1m BTS last week when I got excited about BitAssets 3.0 but when I realised how long they would take and because I thought incorrectly Greece would be good for BTC I sold again for a 3-5% loss. Which turned out to be very good move. Phew.

Actually it looks like Greece might have a bank holiday etc. pretty soon, so I would guess for the next week or so you're better off being in Bitcoin.

Selling pressure looks to finally be slowing a bit around the 0.02 CNY low. We could really use a million+ BTS buy from you right about now Empirical lol. Think of the children!

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