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Messages - Method-X

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31
Technical Support / Re: My Committe Slate
« on: October 24, 2015, 06:03:44 pm »
Method- got elected as a delegate, quit, still got paid, never delivered anything while blaming the market cap and being too busy with more important things.

False. I NEVER got paid anything! Everything I did for this project was done for free.

I don't have anything against you method... Just reporting what I saw over the last year. You were elected, said you were going to bring Stacie on to help, never saw her after the wine drinking video, you barely came around the whole first half of 2015, and your delegate was receiving funds the whole time.  I'm not sure if you were giving them to someone else, but their was a lack of transparency that I believe committee members need to have.

Riverhead made a public post stating he was using the funds to provide liquidity for metaexchange. I also had about 250k BTS in reserves when I decided to leave and gave them all to Cass. Both can confirm. I have no interest in being involved with any political position in this community. BTS1 was unmarketable as a product. Nothing I could do about that; defer blame elsewhere.

EDIT:

https://bitsharestalk.org/index.php/topic,15131.0.html
https://bitsharestalk.org/index.php/topic,18168.msg232236.html#msg232236
https://bitsharestalk.org/index.php/topic,15131.msg195459.html#msg195459

Despite certain other people around here who try to take credit, I came up with the idea to put a referral program on a blockchain by using a DACs fees. That system wasn't available in BTS1 so I had to make due with a paid delegate. When I left, I was told to keep quiet about leaving because it would impact market cap, so I did.

How long would you work for free lil_jay890?

32
Technical Support / Re: My Committe Slate
« on: October 24, 2015, 05:50:51 pm »
Method- got elected as a delegate, quit, still got paid, never delivered anything while blaming the market cap and being too busy with more important things.

False! I NEVER got paid anything. Everything I did for this project was done for free. In fact, I invested my own money and incurred massive losses. If the "perception" is that I got elected and quit taking BTS for myself, that's just fucking disgusting. I left because I'm not working for free and have my own company to run. I also have zero interest in being a committee member.

33
Technical Support / Re: My Committe Slate
« on: October 24, 2015, 05:07:11 pm »
I think the best committee members will be people who have a solid understanding of market dynamics. Regular traders, folks with a background in economics, etc.
  • Agent86 (probably no longer with BTS)
  • Riverhead
  • bitmeat
  • monsterer
  • ????

34
General Discussion / Re: Use optional ad revenue to lower fees.
« on: October 23, 2015, 05:12:25 am »
Ads are not viable until you have eyeballs. This is akin to launching a blog, getting 1000 uniques per day and thinking you can make money monetizing them. Simply not going to work until BTS exchanges are popular.

35
The cost to opening an order is MEMORY allocation that stays around until the order is canceled (if ever). 
A "one time promotional" could allow an attacker to force full nodes to have GB of memory allocated for ever for almost no cost.

Ah, so it's an attack vector...

By the way, the reason traders don't like being charged for unfilled orders is psychological/behavioral. Most people are not as rational as you and will perceive unfilled order fees as being "high" and think nothing of it when charged 1.5% to withdraw coins from an exchange. Also, they're used to doing it a certain way already. Going against the grain is never good for adoption.

36
General Discussion / Re: Let's Lower Trading Fee
« on: October 22, 2015, 03:02:11 pm »
I think we'll get there very quick with 2.0 but we do need to listen to active traders and if possible fees for non filled trades should be less.
Listen to data, not propaganda, not politics. Data requires you to have some evidence. There is no evidence right now that the fees are too high. Give it a few months with the fees at current levels, gather evidence, and then find out how well the referral program is working.

I think the data apparently shows that the 49 exchanges ahead of us don't charge for non filled orders apparently?

Presumably there's a reason they all the follow the same formula & also charge a percentage for trades that are matched. (Which I know is complicated for BTS to do short term)

& the feedback has been coming from active traders who are also shareholders in BTS and want to see it succeed. So I don't class that as  propaganda/politics.

Either way it's a challenging task, charging enough somewhere to make the referral programme lucrative which I believe is needed & making fees competitive with centralised exchanges which I believe are presently our competition. (Though I know you don't think they are. Which is fine, we agree to disagree.)

Yeah, the only problem with the referral programs current setup is when traders are charged high fees when orders are not filled. This also hinders market making bots which will be imperative to BTS success. Members should be charged 0.5 BTS per order and something much higher when the order is filled (percentage).

37
General Discussion / Re: Let's Lower Trading Fee
« on: October 22, 2015, 02:54:26 pm »
Luckybit is on fire this week ;)

38
General Discussion / Re: How to bootstrap bitUSD liquidity?
« on: October 22, 2015, 02:07:45 pm »
Basically, do the same thing NBT did - have not just a price feed tool, but also a tool that provides liquidity to the acct owner.

Have a parameter, such as % around price feed. e.g. I'd set mine to 1% around price feed.

I know NBT is more centralized, but there are some good lessons to be learned from their experiment.

Yeah I really agree with this. If I'm not mistaken, NuBits had/has market making bots on centralized exchanges to provide liquidity but when BTER and other exchanges got hacked last year they took a really big hit. We would basically do the same thing they did but with the DEX instead?

39
Would it make sense when the system  displays the fee for a transaction from basic members it saids something like:

"If you upgrade to lifetime/annual membership you get a 80% discount for all your fees, for this transaction you would pay X BTS"

so we promote our product to newcomers without needing them to find out on our forums...

 +5%

40
General Discussion / Re: Lowering Transfer Fees
« on: October 22, 2015, 07:30:24 am »
I think I've discovered a reasonable explanation why the current transaction fees are perceived by some of us here as too high.
We are generally BTS holders and the reason we hold our BTS is because we feel they are actually worth much more than their current market value.

So we perceive spending 20 BTS (and now even 40 BTS) as a significant expense because we take into account the expected future value of BTS.
In other words, in the not-so-far future 40 BTS might be worth much more in terms of fiat than it is now so it feels very expansive. It feels like the we are forced to sacrifice part of our core investment just to make a transaction.
But a non BTS-holder won't necessarily feel this way.

Does it make sense?

 +5% Spot on.

41
General Discussion / Re: Lowering Transfer Fees
« on: October 22, 2015, 05:22:18 am »
Do stealth transfers cost extra? They should.

42
General Discussion / Re: How to bootstrap bitUSD liquidity?
« on: October 22, 2015, 02:14:50 am »
Somebody create a worker proposal for an open source market maker.

What is the pay rate that you will  personally approve such proposal?

I have no idea. I would set it pretty high though, as I see this as being a pretty glaring barrier to adoption and thus should be high priority.

43
General Discussion / Re: How to bootstrap bitUSD liquidity?
« on: October 22, 2015, 01:34:22 am »
Somebody create a worker proposal for an open source market maker.

44
General Discussion / Re: How to bootstrap bitUSD liquidity?
« on: October 22, 2015, 01:23:36 am »
Is open source market maker not aa good idea?

That was talked about a year ago but Toast left with Rune to develop makerdao for Ethereum. Market making seems to be the elephant in the room not being addressed by the developers. There has been so much talk about creating a pretty GUI and not enough talk about how to actually get liquidity. Honestly, the GUI is pretty sweet right now and will only get better. You can make a GUI that looks like Apple themselves created it but it'll still be useless without liquidity.

45
General Discussion / Re: How to bootstrap bitUSD liquidity?
« on: October 22, 2015, 01:07:55 am »
What's preventing market makers?

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