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Messages - Ander

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General Discussion / Re: How much is a new user worth?
« on: October 03, 2014, 06:12:55 pm »
Suppose you could pay a *CREDIT CARD BILL* with BitUSD......
Suppose you could have Bill Pay mail a check to someone... with BitUSD...

Suppose this could happen this year or Q1 2015?

I think this is amazing and should be done, even if the cost is 10% inflation.  Same with the referral campaign.  This is a much better thing to spend funds on that increasing bitUSD yield or something silly like that.

I just hope we are doing as much as possible to limit the amount of dilution that is needed.

Even more annoyingly, they're only at no.3 because they changed what they claim makes up their current CAP. BTSX is really already the no.3 in crypto-world.

Yes, the magical addition of those 20 billion XRP, lol.

The worst thing is, they can add 72 billion more to go up to the full amount of XRP in existence, and claim to have a 500+ million market cap.  Which they will probably do if we were to pass them. 

However the amount of XRP was destroyed during transaction is too small (a couple hundred dollors worth) comparing to the market value of the XRP they sold.

So it's just a trick to sell you their worthless and unlimited amount of XRP.If ripple works with banks,people would think XRP works with banks too ....Sadly,it wasn't.

Yes exactly.  There is no way for us to invest and profit from the technology. 
Just means I am more heavily invested in BTSX. :)

Ripple makes me angry as well...because it seems like the 2nd most promising crypto (after BTSX), and yet ripple labs controls ~90% of the XRP, so if I was to invest in it, they could dump all over my investment at any time. 

General Discussion / Re: How much is a new user worth?
« on: October 03, 2014, 05:12:33 pm »
Some thoughts after reading the past few pages of this thread:

I think the idea of doing some sort of referral system is very important and should be done.  This is very exciting!

I dont think that spending money to inflate the yield on bitUSD is a good use of funds.  bitUSD yield should accurately represent the profit that is being made.  A referral system is a much better use of funds than this.

If possible, we should try to do this referral plan without diluting BTSX above 2 billion shares.  Part of the draw of BTSX as a crypto investment is supposed to be the fixed supply of shares, with shares being burned over time.   

How about the following idea:
There are two stages of the referral program funding.

Stage 1: Acquire funding from several sources:
* Ask for community donations of bitUSD or BTSX.  Provide some non-monetary status reward?   Donated shares will be used to fund the campaign.  (Actually, asking for bitUSD donations is better than BTSX.  It increases the use of bitUSD and doesnt create downward pressure on the share price)
* For a period of time, all burned delegate payments are instead used for the campaign.
* Use BTSX shares as collateral to create bitUSD, use that for funding (will require some interest payments).

Using this funding, get the referral program going with no inflation.    Then assess whether it is working effectively or not. 

If it is working, and BTSX value is increasing, perform a small dilution of a known, fixed amount, at a higher share price, to continue the program.  It is very important tha everyone knows in advance exactly how much inflation there will be, so we can still say 'there will eventually be a max 2.1 billion BTSX, just as we say for bitcoin that there will be no more than 21 million bitcoins).

Summary:  Yes on referral campaign, but hold of on dilution until BTSX increases in price if at all possible, to minimize the size of dilution.  Only dilute if necessary, try to fund as much as possible from other sources (profits, donations, shorting bitUSD into existence and spending it).

General Discussion / Re: How much is a new user worth?
« on: October 02, 2014, 11:00:08 pm »
I would vote in favor of this inflation (share dilution), for this purpose.

Alternately the donation fund is a good idea.  Even though non-contributors benefit more, if its just a few percent then the difference is small and I think we would see plenty of contributions.

General Discussion / Re: Next Snapshot
« on: October 02, 2014, 10:33:47 pm »
Bter posted that they will honor it.   

General Discussion / Re: How much is a new user worth?
« on: October 02, 2014, 10:29:59 pm »
Suppose we already were good friends with people offering such a pre-paid card?
Suppose these friends already owned a large percentage of BTSX?

Excuse me while I go panic buy more BTSX.

General Discussion / Re: BitNu - Funding BTSX without Inflation...
« on: October 02, 2014, 08:08:18 pm »
We really should get BitUSD on the main CMC page.


Hmm, Nubits is on the main page and bitUSD on assets.  What determines which tab the coin is put under?

Thanks!   +5%

This sounds like a great speech.  Sad that I wont be there but I cant wait to watch a video of it.

A month ago they actually used AGS funds buy-back BTSX, because they were that confident of their product.

Thats something to think about.

When did this occur exactly, and at what price?  Was it at ~1 cent prior to the late august price increase?  Was it the cause of the price increase?

This solution seems excellent.  Shorts compete in a free market system by setting interest rates they are willing to pay.

Competing over collateral lead to issues as others pointed out - in order to compete, one would need to borrow a bunch more collateral and post it.  This made the short look like they were well collateralized when they actually were not.

General Discussion / Re: BitNu - Funding BTSX without Inflation...
« on: October 02, 2014, 05:26:25 pm »
Seems like a really bad idea.

We dont want bitshares to be thought of as "those guys who ran the admitted ponzi scheme". 
We dont want everyone to think "clearly NuBits was better, since bitshares had to copy it". 
We dont want to seem like we are just obsessed with NuBits, instead of working on improving bitshares features.

Lets focus on increasing demand for bitUSD instead.

General Discussion / Re: New rivals )
« on: October 02, 2014, 05:05:54 pm »
Openly running an admitted Ponzi doesnt sound like a very legally safe idea. :D

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