Show Posts

This section allows you to view all posts made by this member. Note that you can only see posts made in areas you currently have access to.

Messages - Ander

Pages: 1 ... 225 226 227 228 229 230 231 [232] 233 234
Well, most of the whales are probably people on this forum, and I don't think they have a goal of screwing the rest of us over yet.    BTSX isn't so well distributed yet that there are large whale traders who are just in it for the trading and don't believe in BTSX long term.  There is plenty of room for BTSX to appreciate, and the whales already had the opportunity to buy it for under a cent a couple months ago.

That said, I do think there is too much expectation surrounding Dan's vegas speech.  It could be a 'sell the news' event if the expected price rise doesnt materialize. 

General Discussion / Re: New rivals )
« on: October 01, 2014, 07:43:38 pm »
I think it will be quite a popular coin

Want to sell me all your bitshares so that you can go buy more of it? ;)

I don't think we should do this, because it looks kindof like a ponzi scheme.  (Its actually kindof a reverse ponzi, using funds from original investors to pay new investors?)  I think people will just see "they are using investment funds to pay higher interest" and think "ponzi", and then not investigate further.

We should work on increasing demand for bitAssets by fixing the bugs that are preventing people from using them, improving the user experience, making it less complicated/educating people, and finding partners who want to accept bitUSD, thus increasing the demand. 

Paying extra interest out of funds that were invested into BTSX is not sustainable, it is not a free market solution.  The yield on bitUSD should represent real profits, being paid to holders.  It should not be artificially inflated through the dilution of BTSX, which would simply make bitUSD buyers wonder when the bonus interest is going to be cut off, at which point they will dump.

General Discussion / Re: mesh networking, last mile problem, and BTSX
« on: September 30, 2014, 07:40:25 pm »
Wow.  This sounds like a DAC that needs to be created!

I thought thats what Reddcoin already was.   Just goes to show how little I know about the altcoins that arent in the top 10.

General Discussion / Re: Back the BTSX with physical gold
« on: September 28, 2014, 06:23:18 pm »
Um, no.

Did you not hear about what happened to e-gold?

General Discussion / Re: Poll about Bitshares-Bitcoin diversification.
« on: September 27, 2014, 03:50:33 pm »
Now watch bitcoin dump to 350 before I can buy more BTSX with it...

General Discussion / Re: dat peg doe
« on: September 27, 2014, 03:45:58 pm »
No inactivity fee.

Honestly I think we should remove all references to inactivity fees.

I have had conversations with two different people online in the past couple days where their reason for not buying BTSX was basically "There is a 5% fee each year, which means that if I make less than 5% yield I am losing money!". 

General Discussion / Re: Poll about Bitshares-Bitcoin diversification.
« on: September 27, 2014, 03:41:01 pm »
The trust that the community here has in bitshares is amazing.   

Went from 30% BTSX to 40% yesterday.  I had been thinking I was done, but now I want to go to 50/50.

Watching bitcoin drop right now while btsx rises...Tony must be loving his position right now!

I started researching the altcoins.

Out of curiosity, did anything else apart from Bitshares that you researched impress you?

I initially bought 5 different altcoins, but now I've sold them all to buy more BTSX.

Made some money on DOGE at least. :)

Then I got my head out of the sand and stopped assuming the next bitcoin bubble was inevitable. 

I started researching the altcoins.

I found bitshares.  Everything changed.

Now I just look at the charts of bitshares and smile. 

Bitshares is the future. 

General Discussion / Re: dat peg doe
« on: September 26, 2014, 11:42:54 pm »
Nearly there. The BTSX is burnt by the delegates who burn a percentage of their pay per block which reduces supply.

Are there any other ways that BTSX gets burned?  Thanks!

General Discussion / Re: dat peg doe
« on: September 26, 2014, 11:36:53 pm »
Right, bitUSD holders get interest from the trading fees.  And transactions in it also help BTSX holders as well by paying a dividend (burning BTSX?)

General Discussion / Re: dat peg doe
« on: September 26, 2014, 11:12:37 pm »
Thanks Oldman.

So a bitUSD "should" be worth $1. 
When market forces push the value to 1.01 or .99, market making bots step in and equalize the balance.

When the demand for bitUSD becomes VERY LARGE, and overwhelms the trading bots, the price might go to 1.02 or 1.05 or something.  Then, people use their BTSX as collateral to create more bitUSD and sell it until it equalized back to $1.  Therefore, when there is high demand for bitUSD, more bitUSD is created.  As long as the market cap of BTSX is of sufficient size relative to the demand for bitUSD, this works.

When the demand for bitUSD greatly DECREASES, the price might drop to .95 or whatever.  Then, people who have existing shorts take the opportunity to cover the shorts, which takes bitUSD out of existence!  They do this until the price goes back up to $1. 

So it seems that the price of bitusd cannot go far away form $1.  If it goes too high, lots more bitUSD appears to fulfill demand.  If it goes too low, bitUSD is destroyed.  So the price of bitUSD cannot go to zero.  But the quantity of bitUSD in existence could go to 0, if demand dried up.

Comparing this to Nubits.  Both Nubits and bitUSD are created when demand increases.
However, when bitUSD demand disappears, the bitUSD is REMOVED.  (People cover shorts and the bitUSD goes away).
When Nubits demand disappears, the interest rate on Nubits is raised.  (And raised, and raised), until holders are encouraged to 'park' Nubits instead of sell it.  HOWEVER, in the future when the parking is over, the Nubits are back, WITH INTEREST.  Now you have even more Nubits in existence.   If demand is still low, then interest rates must go up more! 

To summarize:
* If there is no demand for bitUSD, all bitUSD will disappear.  The shorts will be covered and the holders will get some amount of money a bit below $1 for them and then they wont exist anymore. 
* If there is no demand for Nubits, then Nubits become the zimbabwe dollar.  More and more of them are created( due to the interest) the price drops, and the interest rate on them increases.

(Note: I am wrong about Nubits if the Nushares holders can/will actually remove Nubits from existence by buying them.  If that is the case then they are similar to bitUSD).

Am I correct about all that?  Thanks!


I like your thinking on this Oldman!  Your thinking aligns with my developing philosophy that Bitshares should be positioning Bitcoin as an ally (at least in these early stages) and not as an adversary as we tend to do now.

I agree.  This is key to getting bitcoiners to keep an open mind and investigate bitshares. 

The following is how I came to buy my first bitshares:

* The blockchain technology is amazing!
* Use the blockchain technology for currency, and you get Bitcoin!
* Use the blockchain technology for stocks and you get.....BITSHARES!  Hey look, they pay dividends!

This is how bitshares needs to be presented, imo.  Bitcoin = your currency.  Bitshares = your stocks (and commodities, and futures...) 

The name is perfect for making this connection. 

Pages: 1 ... 225 226 227 228 229 230 231 [232] 233 234