Bitcoin PM's seem to have gained limited success but I would be excited about prediction markets too.

While BitAssets 2.0 will be huge, it might take a while. BitAssets thus far have gained limited traction (BitReserve $1.7 million, NuBits - $0.6 million BTS 1.0 - $0.3 million)

However in terms of volume, profit and user numbers many new Bitcoin gambling sites dwarf BTS.  But the BTS 2.0 specs can compete with centralized sites on performance and BitUSD + a decentralized blockchain (fairness, security, privacy, volatility and price) can decimate Bitcoin's largest industry. 

So  anything like PM's, Games and creative ways to add gambling I would be in favour of. This is where the money and opportunity to rapidly bootstrap BitAssets is imo.

Decentralized gambling + trustless referral program. Whoever has the skills to make this happen will get filthy rich.

Quote from: Method-X on June 11, 2015, 06:46:54 pm

Quote from: Permie on June 11, 2015, 06:28:39 pm

The starting a $100 business and getting a return after your second customer idea is a pretty nice pitch.
It lead me to thinking about how that would work. Would marketers be able to use moonstone (for example) as the wallet they recommend new users to download and get their referral fees that way?
Will there be disputes between wallet providers and marketers on who gets the fees?
I suppose it depends on whether moonstone gets open sourced or not

I've been wondering the same thing. If someone were to create educational videos on how to trade (for example), how will the blockchain know who referred them? I'm assuming it'll be wallets that offer some sort of split. So for example, the wallet takes 25% and the affiliate takes 75% (after the blockchain takes 20%). Wallets will compete for affiliates by offering the biggest payouts. I'm really eager to dig into the mechanics of this.

Affiliates is the term I've been looking for!
Would the creator of the educational videos be able to have a QR code linked to a referral download on display throughout the video?

If a referral can be done with just a QR code, I've been wondering if advertising companies would ever see a profit in running BitShares tv ads or billboards or sports team "sponsorship" etc. What about sportsman running around with QR codes on their backs
We know from the endless razor and hair product commercials that celebrities have a price on renting their image, it's not inconceivable that a few 100 BitShares referrals would meet that price. 

Anyone anywhere can earn referral income so it will be interesting to see how many ways people use it to earn a little extra profit out of every customer they already have.
Until now only large companies like facebook could sell their viewership. With the referral program everyone in the world can now earn some ancillary profit. Just having a few BitShares leaflets on a hotel reception desk could be very profitable

In a post I made last September, I encouraged the use of a referral code. In practice, QR codes have been a disaster for marketers. Nobody bothers to take out a phone to scan the code. Two methods have consistently proven themselves to work:

• Referral codes
• Referral links

I think this referral program is perfect for web wallets / exchanges to build a business model around and offer a referral structure of their own. Since the wallet is web based, they can use referral links which are far superior to manually entered codes (assuming they choose to offer a referral program of their own). It allows the dev team to finally stop worrying about creating a "great user experience" and focus on the core protocol. The incentives are now in place for 3rd party wallets to profit from offering the best user experience (thus the best conversion rates).

The starting a $100 business and getting a return after your second customer idea is a pretty nice pitch.
It lead me to thinking about how that would work. Would marketers be able to use moonstone (for example) as the wallet they recommend new users to download and get their referral fees that way?
Will there be disputes between wallet providers and marketers on who gets the fees?
I suppose it depends on whether moonstone gets open sourced or not

I've been wondering the same thing. If someone were to create educational videos on how to trade (for example), how will the blockchain know who referred them? I'm assuming it'll be wallets that offer some sort of split. So for example, the wallet takes 25% and the affiliate takes 75% (after the blockchain takes 20%). Wallets will compete for affiliates by offering the biggest payouts. I'm really eager to dig into the mechanics of this.

  Awesome video Max.

I'd love to see the referral program launch with 30 day vesting and referred to as 30 day trustless payouts. One of the main issues affiliates have is trusting the vendor will actually pay the commission. Making it clear that payouts are done in a completely trustless way is a really unique selling point.

FYI

The following delegates will be removed from my slate this weekend if they don't start actively publishing feeds.

dev.nathanhourt.com
developer.vikram
elmato
martin-38ptswarrior-raum
btsx.chinesecommunity
del.fav
del0.cass
dev-pc.bitcube

I was recently wondering why developers weren't publishing feeds and I concluded it must be a legal issue of some sort.

As long as the incentive structure generates revenue for the community piggy bank by only returning 99% of the future newbie's revenue to the independent marketer instead of 100%, then any "abuses" will generate cash for the community.

Do not return 100% or more  as incentives to the independent marketers or else we will suffer spam and/or profit loss.

 

but i read anywhere refferal program 

If you're a power user you pay to minimize your fees. Like a "real" business...

I see no reason to back bitassets directly with bitcoin...or to even open up that Avenue because then we are opening the floodgates for a stealth attack that steals our tech and moves it to bitcoin with little repayment to our community (what happens to the BTS you each hold if the mining and banking cartels inject huge funds into btc-backed bitassets???).

I'm pleading ignorance when it comes to sidechains. I would assume the DAC can continue making money through network fees. The technology behind bitshares is pretty advanced and can do a LOT of stuff bitcoin can't. Way more than just bitassets. I'm thinking about this strategically. If we're one of the first sidechains, that will gain us massive credibility and momentum. Combine "bitcoin friendly bitshares" with a referral system and that makes for a pretty massive rocket ship.

But like I said, I know nothing about sidechains or if such a partnership is even possible. I'm pretty sure allowing for cross chain transactions isn't permanent. If down the road, things get messy with Bitcoin the shareholders will decide what to do. At the very least, it's worth keeping an open mind about. Bitcoin isn't the enemy. Not yet at least.

Hmm...I'm failing to see how we would both win in this scenario. Literally what value would BTS have if it wasn't backing bitassets? Sounds to me like it would have a quick drop to zero, while bitcoin reaps all the hard work of the BTS devs...

Am I missing something?

• It's a ledger capable of 100,000 TPS.
• It's a decentralized exchange
• It allows for dynamic account permissions
• User issued assets
• Bond market

Once we have actual adoption, we can get creative and think of other ways the blockchain can be utilized.