Miss this forum. lol. 


Alright well anyway let's give this thread some purpose (for old time's sake  ). How do you feel about the transition to Steem? Have you made the jump yourself? Do you still hodl BTS? When do you think we'll get the next summer announcement (heh)? Full disclosure - I still hold BTS and also have some Steem now. I like the idea of Steem and it seems like incentives are aligned pretty well for some nice growth. But, I still prefer the simplicity of communicating on these forums. And I can't help but feel like Steem is becoming an echo-chamber (far worse than anything the BTS forum ever was) and the whole "I have to alter how I word this sentence to make sure I don't piss off the whales" mindset really puts me off, in a censorship-hating kind of way.

The ideal formula would yield an asset that retains constant purchasing power against an honest CPI. 

But we don't need to incur the risks of offering total "idealness" in a global economy where all major currencies are chronically inflating and can even be collapsed on purpose -- causing a hyperinflationary spike in any CPI referencing them.  All we need to do is be better than the best and we've got something attractive that a reliably appreciating BTS could provide to humanity.

Given a stable demand for a coin of this type, would take a stable stream of BTS off the table, giving the upward draft in BTS price needed to become self-sustaining.

If the right bot feedback mechanisms are developed to keep this from overheating or flaming out, it might be an amazing opportunity for a whale powered asset that could grow to compete with the largest global currencies. 

Just need to find the right formula and a whale willing to try it.

Interesting. Looks to be coming "this summer".

 ...

Quote from: jsidhu on June 16, 2016, 10:42:25 pm

ill buy in again at 100 sats

if bts touch sub 300 I sell my motorcycle without a tought

You really are an eternal optimist around here, aren't you? But you seriously may want to step back and evaluate your level of emotional investment in BitShares. I know firsthand how it feels to be "certain" a coin will rise in the future and to be excited by "fire sale" prices. And it's bitten me in the ass every time. BTS can most certainly go down from here, and it is entirely possible something awesome does come along and propels it higher. But you really just don't know. It's a gamble.

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BTS is operating at a loss every day via workers and witness's.

source of delusion

Lol

While I think bitshares best current and near future selling point is "The Dex", fact is Bitshares can be so much more than just a dex.  It may seem like the right move now to rename, but it would be pigeon holing bitshares when it starts to expand it's feature set.

This is true. Hadn't thought of that.

Also: insert obligatory "you could have made $100,000 steemy dollars posting this to Steemit instead!!1!"

 

STEEM is a Reddit-esque social media platform. What is Reddit's problem?

http://www.recode.net/2014/3/3/11624114/still-in-the-red-reddit-to-donate-one-tenth-of-ad-revenue-to-charity

Reddit's problem is that even with a massive userbase their costs are too high and their revenues are too low.
After ten years Reddit is still a loss making business model despite being the 14th most visited site in the US & 36th in the world in 2015. https://en.wikipedia.org/wiki/Reddit

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As of 2015, Reddit had 542 million monthly visitors (234 million unique users), ranking 14th most visited web-site in US and 36th in the world.[6] Across 2015, Reddit saw 82.54 billion pageviews, 73.15 million submissions, 725.85 million comments, and 6.89 billion upvotes from its users.[7]

So for STEEM to be an improvement on a Reddit-esque  platform they would have to find a way to drastically increase the revenue and/or reduce the costs of that business model. STEEM have done the opposite...

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Reddit hypothesized that its platform would be improved if everyone who contributed to reddit.com by posting stories, adding comments or voting were rewarded with a fair share in Reddit, Inc1. Steem aims to support social media and online communities by returning much of its value to the people who provide valuable contributions

By paying users for popular content and even for comments/voting they've drastically increased the costs of that business model. Reddit earned <$10 million in 2014, which wasn't even enough to cover expenses. (Crunch some numbers using the wiki to see why it's not worthwhile paying for content on this type of platform and/or how much you'd have to increase revenue by to justify it.)

STEEM also reduces potential revenue per user as their initial user-base will be even less likely to give up personal info, allow targeted advertising or the censoring of board content to make it more advertiser friendly & I won't even go into the differences in the PR approaches.

In practical terms this means STEEM's burn rate (monthly expenses) will presumably be extremely high (paying to acquire users and for their content) but it will achieve no/low revenue and no meaningful longer term valuation from serious investors because the potential value per user, is if anything likely negative, so it will likely run into financial issues very rapidly. 

(It also deliberately went against all the crypto-currency community's cultural regulations, which is fine, but means as a result it's unlikely to be popular/adopted as a crypto-currency in it's own right.)

This is just a personal opinon, feel free to disagree and or make counter arguments especially those more familiar with the business model and future plans but I don't see a Steem merger being an issue as I don't see it being around for long.

(Other than keeping an inflated value for long enough to justify a high percentage stake in some sort of merger I can't see the point.)