Quote from: zerosum on October 17, 2014, 11:42:00 pm

Quote from: Rune on October 17, 2014, 11:34:50 pm

The vote DAC being as big as btsx means nothing, because currently btsx is nothing. It has no actual users, only Chinese speculators and western true believers.

BTSX has the potential to become what everyone has thought bitcoin would become, the system that liberates mankind. But that will only happen if it is made to happen, and currently there are some crucial pieces missing before it will be ready for lift off.

I realize that dan and the team have already done a tremendous lot, but if they finish what they started they will earn the right to rest for the rest of their lives. Right now is really not the time to rest.

Simply put I do not have enough pluses to state how much I agree with that!

 
                     
                                           

PS
And by the way, there is NOTHING, not a single thing!, that can be  AS BIG AS BTSX,  if BTSX reaches its full potential that is...

You need to think BIGGER, Pinky. 

Means of payment and store of value is the biggest potential use case for decentralized systems, and the only with a functional implementation. The btsx community is also the funnel that will bring users to other bitshares DACs. The only potential userbase for a voting DAC will be btsx users. I promise you that it will be impossible to sell the concept to anyone who don't already get btsx enough to invest in it.

Btsx must get off the ground before it makes sense to build any other DAC. You build things from the bottom, in this case thinking big just means losing perspective and getting overtaken by others that focus on doing a few things well.

That being said, I see no issue with rapidly creating more value by spring boarding many new DACs off the network effect of btsx, as soon as there is one. But currently there is none

well imagine the case where we do away with price feeds and go trustless? Would the idea still work? I think price feeds are only meant to be temporary unless I'm misunderstanding.

Removing price feeds would achieve the opposite of going trustless, it would mean we would have to trust the majority of users in being honest and targeting a 1:1 peg.

When being a delegate becomes a real business then the feeds will require very little trust because stand by delegates will have enormous incentives to constantly monitor the feeds and blocks of incumbent delegates and call out any mischief.

Quote from: zerosum on October 17, 2014, 10:49:52 pm

Quote from: Rune on October 17, 2014, 10:43:55 pm

Bitsharesx is not even close to being a finished or useable product and the core developer focus now goes to a new project?

I think you are a wise man... I also doubt anybody will listen...

I think BitSharesX is amazing & looking pretty good especially after the next update where shorts compete on yield. BM has said he thinks this DAC could be as big as BTSX and Stan has said there may be some synergy between the two. Personally I'd probably recommend BM takes a bit of a break because I can't imagine all the work and time he must have put into BTSX in the last few months. However if he's passionate about getting stuck into another project that will probably also benefit BTSX, I say thanks and good luck!

But btsx is not useable. There's no mobile wallet, there's no ability to integrate it with a POS system. Shorts paying interest is not going to add any value on its own, it will only make a difference if there is a reason to either buy bitUSD or go long btsx and currently there is no such reason. There must be trade inside the system for it to create any value.

The vote DAC being as big as btsx means nothing, because currently btsx is nothing. It has no actual users, only Chinese speculators and western true believers.

BTSX has the potential to become what everyone has thought bitcoin would become, the system that liberates mankind. But that will only happen if it is made to happen, and currently there are some crucial pieces missing before it will be ready for lift off.

I realize that dan and the team have already done a tremendous lot, but if they finish what they started they will earn the right to rest for the rest of their lives. Right now is really not the time to rest.

So essentially this is a complete remake of the idea of a bitAsset, to one that is basically a blockchain command that destroys x btsx to create 1 bitUSD or destroys 1 bitUSD to create x btsx, where x is provided by the delegate price feeds.

I like it but I think the price feed delay will mean that the system can be exploited by whales. Once the chicken and egg liquidity issue is solved with bitUSD the user experience will be like with nubits. The focus of the developers should be on marketing BTSX and bitUSD, getting a mobile wallet and enable non-Titan address generation so POS integration becomes possible.

How about making PTS an asset on btsx? It would be a great way to show off the capabilities of the market engine, and would save the community both mining and exchange fees.

Will it be possible to trade it on btsx?

BitUSD will be fine. When it comes to purchasing power, they trust USD the most. Making a new name will just make pitching it even harder, and will fragment the market.

Quote from: Stan on October 15, 2014, 05:53:29 pm

Quote from: amencon on October 15, 2014, 05:07:55 pm

Quote from: blahblah7up on October 15, 2014, 04:52:36 pm

Quote from: amencon on October 15, 2014, 01:32:46 am

For now merchants accepting bitUSD need be already motivated to stay in crypto AND want the value stability of USD.  Merchants all over are already accepting BTC and converting to USD so unless they have a reason not to want to hold fiat, bitUSD won't likely appear to hold much extra value proposition than their current setup.

This is the extra value proposition:

https://bitsharestalk.org/index.php?topic=10046.0

It's not a very good one until there is enough widespread confidence in the currency.  5% (or whatever) interest is great, but not if you have to hold some currency you don't understand and nobody else is using or talking about.

Who says you have to even be aware of that currency?  Get a debit card that returns a yield from StanCard^TM or something.

Load the prepaid "StanCard" wit USD via the on-ramp service, earn interest while on the card, and unload the card when you buy something in USD from any merchant that accepts prepaid StanCards.

The idea of a debit card is appealing assuming it's kept simple and intuitive for the average user. I think the "unloading the card" part may be the biggest sticking point. If everything could be kept on one card that earns interest and works with regular POS debit machines, I can see this takikg off.

The fees for a custom prepaid debit card can be really steep though, like we saw with the xapo card.