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Definitely my personal favourite. So elegant @cass
I left Bitshares months ago and took a huge loss when they announced the pyramid scheme membership thing and pretty much since then Bitshares has been declining in popularity and price. Why all of a sudden is the price going up? Did they decide to get ride of that lame membership model and promoting pyramid scheme which will never work? Sorry my post is negative but I'm just telling people how most people view Bitshares after 2.0 came out
Any thoughts on the price jump recently?
It's rising because it hates you, its actually all about you, being the center of the world must be really tough. Especially when everyone's against you.
QuoteWhy is Bitshares rising in price?
Because BitShares is awesome, and CCEDK is announcing on July 1st their relaunched frontend based off BitShares (I think).
Plus check out the blockchain's increasing transaction rates (turn on limit & cancel orders):
cryptofresh.com/charts
We are making record daily transaction counts and starting to achieve real traction.
Sucks to be you for doubting BitShares.
there is obviously a bug that has sent out 10 BTS instead of COPPERTICKETs to some
As an active trader, I do not see fee's as being an issue holding back others from trading.
I started this thread on btctalk to get some additional input. Many people claim the wallet is overly complicated. People have a hard time grasping btc, yet bts is bringing so much more to the table. Many do not know how smart coins keep the peg, others have no idea about being able to withdraw/deposit straight from the wallet utilizing a gateway etc... I would use the dex even more if there was liquidity however at this point in time I can not get away from 3rd party exchanges completely.
https://bitcointalk.org/index.php?topic=1513568.0
BTS goes after many different target markets, thus we should focus how to attract these specific users.
low hanging fruit:
-Short term we need to remind the crypto crowd how un transparent 3rd party exchanges are. They do not grasp the concept about having gateways competing for your business, instead of users going to specific exchanges. Your always in control of your investment!
-Ken's block POS should bring some real world smartcoin usage/liquidity.
...but if you have to narrow it down... I would choose 2a (tonyk's proposal), 2b (subsidizing liquidity), and 2d (temporarily have no trading fees until sufficient liquidity is reached). You could even add in maker taker fees, but is is kind of redundant with subsidizing liquidity. You could do it either way... maker/taker or subsidizing liquidity.
What made you change your mind? Last I remember you considered the tonyk's proposal a total pile of BS? Anyway that proposal is a no go in this community - the proposal has as its essence using the true (even if lower) valuation of its shares... as it has became crystal clear since then at least 90% of this community prefers - made up, artificial centralized some might call it Ponzi-like schemes where one gets money out of thin air granted by centralized god like whales... the community is apparently great at prizing endlessly such phony schemes so the masters can drop/grant them a few (printed by those masters themselves btw) steeeming pennies.
2b -subsidizing liquidity - is indeed the true needed step... but then again instead of this being done months ago...it was not... all the effort of this community went in supporting the crazy balloon called steem.... The lack of desire for this badly needed element to be implemented speaks volumes.
I know this has been discussed in other threads which I can not find, however what is/was the reasoning for having all the gateway specific assets? Why can they not just use BitBTC and charge a fee on deposit or withdraw?
You seem to know a lot about whats going on there.. hows their liquidity.. how did they solve it?
B&C is still in development... vaporware at this point.
Supernet's assets cannot be traded in the main Supernet client yet, but the multi-wallet part is done. Supernet is IMO has a very slick GUI. It takes about 15 seconds to install, and you can store/send 7 different cryptocurrencies in one wallet. It is easy and fast to try it... just copy/paste and throw away the private seed (unless of course you want to try it out). I have tried out the multi-coin send and receive feature, and it works as advertised. https://github.com/Tosch110/SuperNET-Lite-3/zipball/master
Exactly.but disdain for idea #1 should not be a reason to write off the other ideas.
Absolutely. Bootstrapping liquidity is very important. And for the DEX to actually be decentralized, we really need something better than OPEN.X assets which have all the counterparty risk that centralized exchanges have.Multisig sidechains are one way of solving that. Can you explain what the SuperNext and B&C Exchange model for solving the counterparty risk problem is?
They both use multisignature addresses.
Supernet's setup is pretty basic and less secure IMO. The way I understand it, they only use 3 signers spread across 3 servers. They are simply assets on the Nxt exchange utilizing multisignature addresses. Their GUI wallet is super spiffy/lightweight/gorgeous though, and the exchange is functional and works, so they are still a competitor. They need to work on their exchange's GUI, because for now it just runs on Nxt's exchange GUI which is quite ugly.
B&C's design implements multisig addresses as well, except that it uses a reputation-based system in which an arbitrary number of participants compete for blockchain rewards- based on their effectiveness and honesty. I think it is similar to dash's Masternodes... they put up a deposit of B&C tokens to become a signer, lose the deposit if they are not honest, and are incentivized to remain honest. That is just from memory the way I understand it anyways. I am having trouble finding the whitepaper... there has been a lot of drama going on in the Nubits/B&C Exchange camp, but even among the drama there seems to be a realization that B&C has a pretty good design for a DEX using real assets.
There is a 40 page thread on Bitcointalk in the Bitcoin Development section that goes over B&C Exchange in more detail: https://bitcointalk.org/index.php?topic=1033773.0 and also information on Nubit's forums.
I think we should let the free market decide whether they want to trade Smartcoins, Exchange IOUs, or the real assets. We should not play as puppet master, and doing away with exchange IOUs is one of the huge benefits of DEXs. Don't let the special interests of OBITS/METAX be the death of Bitshares! Someone will come and do it anyways, and it is better to have a piece of the pie. In this industry, you need to innovate or eventually die. There is no inbetween.
but disdain for idea #1 should not be a reason to write off the other ideas.
Absolutely. Bootstrapping liquidity is very important. And for the DEX to actually be decentralized, we really need something better than OPEN.X assets which have all the counterparty risk that centralized exchanges have. Multisig sidechains are one way of solving that. Can you explain what the SuperNext and B&C Exchange model for solving the counterparty risk problem is?
I would invest into bitGold,Silver market making pool with my pleasure if it is done the right way.
I agree that liquidity is the most important thing we need to get going in order to increase the BTS toke value... I think it can be done in a less aggressive way than what the OP is suggesting.
We need to focus on forex traders. This is the demographic that the Dex is geared toward already. There is a common belief that we need microscopic fee's to entice traders. That's not true. Traders demand liquidity and are HAPPY to pay a fee as long as there accounts are secure and there orders are filled immediately. A fee of .10-.25 per filled trade is so small a trader wouldn't even blink an eye. @Empirical1.2 has had a few good posts about increasing liquidity.
If we are able to increase liquidity on a few smartcoins then traders will come. Once the traders start trading, bts will finally be generating a profit. By generating a profit BTS becomes more like a company and its shares become more attractive. Speculators enter the system and buy BTS while also trading and dabbling within the system therefore creating more liquidity for smartcoins. More liquidity means more traders means more fees means more profit means higher BTS price. It's a circle and can be done without a hardfork.
I do agree with some here, that a hardfork snaphshot that changes the supply would be the death knell for BTS.
