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Messages - matt608

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781
General Discussion / Re: Bitcoin at $330 ?
« on: October 05, 2014, 04:34:59 pm »
I think it's going to double digits.  The last 2 bubbles were actually 1 bubble, the willy report being true would explain the lack of demand, because a big chuck of it was never real.  You never know though a big announcement could rescue it at any time, but I wouldn't bet on it, so I'm not.  Sold my last coins yesterday after holding for 2 years.  Bitcoin needs a price reset. 

783
Shall we get a fundraiser started?  How much should we aim for?

784
Sounds like we need a cost appraisal for this.

785

 I propose that a well know member a community should create a BtishareX account and we all can send bitUSD to this account, when we have enough founds are in there we hire a developer.

I'd chuck in $100.

786
It would be ideal if bitUSD could be implemented as a default option for merchants rather than just an option they can select.  Items presumably need to be priced in a stable currency, so it makes sense for the default pricing to be in bitUSD.

If that could be done then some referral program for spending bitUSD on open bazaar could become a possibility...

787

The developers themselves are open to altcoin integration and already have other coins actively working on integration i.e. Darkcoin. Secondly, it seems from the posts I've read that it's up to the merchants to accept any coin they want, so long as it's supported. I think a merchant is a node and the nodes decide what coins they want to accept.

If that's the case it's definitely worth the effort to get bitUSD integrated as an option imo.  If this can be done is should be high priority.  It's the ideal way for bitUSD to take its first footsteps as a currency.

788
General Discussion / Re: How much is a new user worth?
« on: October 03, 2014, 03:38:25 pm »
It's true that in the early stages of bitcoin there was a benefit of POW which is initial coin/software distribution to create a group of early adopters.  After 5 years the bitcoin mining no longer helps bring in new users due to the ASIC cost.  But we don't have that early benefit which bitcoin did, of creating thousands of early users via mining, so we do need something to compensate for that.

I was staunchly against inflation to pay for extra marketing at first, but byemaster makes a good point about it being analogous to share dilution/capital infusion.  However, with pre-IPO share dilution (as far as I know) there is an investor(s) ready to buy a percentage of the company, so that capital infusion is guaranteed.  BTSX is already "ipo'd" so any investors wanting to invest can buy in already.  There's no capital infusion with inflation, but rather a capital movement from stakeholders to the marketing team (or wherever the newly created BTSX were allocated, how is that decided btw?).

I can't really know whether to be pro-inflation or not without knowing what the current size of the marketing budget is and what the plans are, but a referral program does sound like it could be worth it if its very well thought out.

789
General Discussion / Re: BitAssets on coinmarketcap main page
« on: October 02, 2014, 08:42:15 pm »
If it can't get put on the homepage listings there's always sponsorship options.

790
That looks like a great plan for your speech. I might suggest that in #11, when you are introducing BitShares, you also might also mention Ethereum and NXT, etc., as other examples of doing more with the blockchain. That might be a diplomatic transition to just mention them once, though not describe them any more than that. And then then go into BitShares. Best of luck; it's going to be great!

I don't think there's a need to be that diplomatic, he's flattering bitcoin greatly already. 

792
General Discussion / Re: Your other crypto investments
« on: October 01, 2014, 01:09:41 pm »
BTSX, bitcoin and Maidsafe.

793
General Discussion / Re: How high can she go?
« on: October 01, 2014, 12:15:43 pm »
The potential is certainly there for a trillion+ dollar market cap for Bitshares-X, but there is also a lot of risk involved.  We don't know if the market peg will work (while it's working well so far as hardly anyone is using it).  We don't know if DPOS will work.  We don't know if the whole thing wont implode from cascading margin calls.  We don't know if there are other technical problems or unforeseen problems or how regulatory hurdles affecting the fiat on ramps and other possible aspects may slow things down or bring things to a grinding halt.  We don't know how bubbles in BTSX price forming and crashing could mess up the market peg.  We don't know about future potential competitors, or the future global economic climate.  Then there's the current dependency on the dev team and all the other risks associated with any startup.

However, if it all works, we can have hundreds of multi-billion dollar successfully market pegged bitassets.  It's a big if, but the potential reward is huge and it looks to me like the plan is good enough to be worth trying.  I consider it super high risk with super high reward at this stage.

794
This is good news all round for cryptocurrencies.  Millions of redditors will suddenly be exposed to crypto, which is one step towards them using other cryptos such as bitUSD or bitcoin.

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