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General Discussion / Re: more professional price feed?
« on: January 07, 2017, 04:20:02 am »I start to see the attractiveness in Bitcoin.
Miners have to put in chuck load of money to fight for the job of block production without demanding "reasonable market fee" because market principle and competition are the only factors that matters .
You think you can be be guaranteed fixed incomes ? Fine , don't do mining, others will do it .
There is no job security in Bitcoin. No guaranteed status, even the big miners have to purchase more advanced mining machines from time to time to be at the top of the food chain.
As for technical advancement, I think seg-wit will come to fruition. Once you have enough capital in the field, all "issues" will be fixed overtime as time have shown.
It's not about how many dilution you can give to developers that matters.
It's about how people and capital keep rushing in regardless of the slim the chance of guaranteed of profit in the field. When you buy a mining machine, no one in the network will promise you that it will be worth your while, but you know in your heart that the potential will be well worth the risks and efforts .
BTS is not growing rapidly is not because we don't have enough worker dilution to pay for this and that .
It's because despite of having a suppose "high pay market salary" daily in their respective jobs , developers still feels like if you don't take BTS from the system fast enough and sell it fast enough , the ship may not be there, and it will be stupid to buy BTS with actual money while the price is low to bet on the potential of its future like the rest of the market participants.
If you trust your work will be beneficial to BTS, buy it more than the ordinary folks who have no such "in sight", hold it , develop your work , and enjoy more potentials than the ones who are not aware of the huge significance of your work. if you are thinking about risks , sorry , that means all the talk about your work's value is pure fiction.
Imagine if Bitcoin miners were to ask at day one to be compensated for their mining cost and guaranteed income, will Bitcoin be where it is today ?
The same goes to witness who want to be compensated for providing a good price feed
Those are some interesting observations.. but they have nothing to do with my assertion that if you want to have any kind of professional trading going on Bitshares then we better have reliable feed data. Witnesses are not the source of that data. They can only provide as good as what is available. Taking a median of a few free sources that can and do come and go works sometimes but not all the time, and that is the issue.
I'm calling for raising the bar... I think everyone might have even forgotten when 2.0 launched that bytemaster talked about the need for more feed providers. He envisioned it as being another element in the network that would be a paid opportunity, similar to how being a hosted wallet provider was supposed to be.
Nobody ever created one though. So 'good enough' became the montra for what few free datafeeds are available. Now though, nobody would dream of creating such a service because the response would be similar to this volunteerism expectation of providing critical always on data to the price feeds.