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Messages - Ander

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General Discussion / How many BTSX have been burned as dividends so far?
« on: September 24, 2014, 09:23:34 pm »
As we all know, over time shares of BTSX will be burned, providing dividends to shareholders, paid for through the trading fees.  To me this is the biggest draw of bitshares.

How well is this working so far? 

According to coinmarketcap, the supply of BTSX is now at 1,999,883,512, down from an initial 2 billion.  Is it accurate that about 117000 BTSX have been burned so far?  Does this figure update regularly, or is there an easy way to see a current count?

I think that seeing the supply slowly decrease over time, as opposed to bitcoin where the supply slowly increases, would be a powerful demonstration of bitshares potential!

General Discussion / Re: NuBits
« on: September 24, 2014, 09:16:29 pm »
BitUSD can go back to 0 as a result of margin calls or covering.

0 supply, or 0 price? 

How would the price of bitUSD withstand a rapid collapse in the price of the BTSX that is being used as collateral by the shorts?


General Discussion / Re: Ripple Deal
« on: September 24, 2014, 09:13:51 pm »

The value of Ripple is not XRP. The value of Ripple is it's relationships with the banking industry and regulators. Ripple is a company which built up it's value on it's relationships and this deal and many others in the future will be the result of those relationships. Ripple is also the best technology as this time for integration into the traditional banking system so if you look at their long term strategy it is quite good while the technology is also fairly future proof compared to Bitcoin/Litecoin.

People get confused about Ripple because of XRP. XRP wasn't supposed to be part of Ripple in the beginning. Also people get confused because the tactic of Ripple is to integrate into the establishment while the desire of many Bitcoin/Litecoin rebels is to buck the establishment.

Which basically means that there isn't any way for any of us to get in on it.  Which frustrates my attempts to hedge into any crypto 2.0 coin that might have the potential to 'win'.


I'm doing a similar thing, but bitshares can be superior and still fail, for example if enough momentum isn't captured via lots of marketing.  There's a lot to do in the next 6 months!

Yes, thats the main reason I'm only doing 1/3 of my bitcoin.   If bitshares succeeds, that will be plenty.

I also don't think bitcoin will crash and burn causing bitshares to immediately take its place. I think it will be more of a slow progression where bitshares takes litecoin's place as number 2 and slowly starts to catch bitcoin eventually surpassing it. And I think the mainstream doesn't even know enough about bitcoin to realize what just happened. They will just think it got renamed or something.

Agreed.  First we need to take the #2 spot, which will get us a LOT of attention.  (Will ripple update its supply to 100B to stay ahead then?  Hehe). 

I think we could see a scenario where Bitcoin goes into another bubble and goes up 10x.  And Bitshares goes up 100x.  It would still only be 10% the size of bitcoin at that point.

General Discussion / Re: CoinMarketCap Adda BitShares assets
« on: September 24, 2014, 07:20:07 pm »
I don't think anything like that exists yet, but it is definitely needed. People are using the BTER price as an argument that the market peg is not tracking accurately in some of my debates. Obviously all of the market depth and liquidity is on the decentralized exchange, so we really need something like this to easily track how well the peg is working. I would venture to say it is tracking much better than if you were to only look at the BTER chart and form your opinion.

Exactly.  BTSX is traded a lot on bter, and every time the bitUSD price spikes one way or the other due to lack of liquidity there, everyone thinks that the peg has failed and starts dumping BTSX. 

We really need a solid chart of the price, in USD, representing the highest volume trading that is occurring.

At this point I think we need bitcoin to turn around and start heading up again.  Once bitcoin starts to get a lot of positive buzz and new buyers, then its easy to get them interested in bitshares as well.   (The name similarity works in our favor as well.  What do you do with your bitcoins?  You buy bitshares and get dividends!)

General Discussion / Re: Ripple Deal
« on: September 24, 2014, 07:12:16 pm »
Ripple really frustrates me, because I think it is a solid idea, and I would like to buy some, but the founders kept the vast majority of the XRP for themselves.  Used to be listed on coinmarketcap as 8.9 billion XRP supply.  Then they released 20B more and the market cap magically triples.  And they still have another 72B to go in the future.  I'm just not going to buy in to this thing and wait to get dumped on in the future by the founders.

General Discussion / Re: CoinMarketCap Adda BitShares assets
« on: September 24, 2014, 06:58:44 pm »

Is there any way to view the chart of bitUSD but priced in USD instead of in bitcoins?  I cant tell from this chart how well it has maintained the peg. 


Here is one...

Yes, but the trading volume of bitusd on bter is very small, and there are huge spikes on the chart, such as up to $1.50 and down to .70.  I was hoping to see something representing higher volume, and see how closely it held.

Don't give up, it does get through to some people.  I used to be one of the 'hate all altcoins' bitcoin holders until this month.  I got so tired of seeing bitcoin decline, and reading about how all the new mining coins coming in every day were hurting the price.  When I read about bitshares, and how it attempts to be an autonomous company that actually makes a profit that is returned to holders, instead of bleeding money through the expensive mining process, I became a convert. 

A dividend paying asset is far superior in the long term to an inflating currency!   That is the key selling point.  And bitshares has the best name to drive this home.  Bitcoin is the currency, Bitshares is the asset!

I'm now in the process of converting 1/3 of my bitcoins to bitshares.  (Not ready to go all in because bitcoin is still so much larger and thus less risky. If bitshares is indeed better, then my holding of it will grow in time to surpass my bitcoin holdings). 

General Discussion / Re: CoinMarketCap Adda BitShares assets
« on: September 24, 2014, 06:45:41 pm »

Is there any way to view the chart of bitUSD but priced in USD instead of in bitcoins?  I cant tell from this chart how well it has maintained the peg. 


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