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I dont think many people will want to get paid in bitUSD as long as it can't be used for anything. Wages comes waaaaay down the line from where are currently at, IMO.
Hey I would love to get paid in BitUSD when I can get paid by the second. I think there is plenty of demand for this. If I had to spend some I could turn it into Bitcoin and spend that.
The real problem is people have no way to work for BitUSD so there are less holders and savers of BitUSD. Telling people to buy BitUSD doesn't complete the circle because it requires they earn USD or BTC from the inefficient economy.
30 day rule must be implemented now! The community must unite and set up some real bitUSD volume/bots. Having it on an exchange so it is possible to trade bitUSD directly to bitcoin would also be a huge advantage, especially if it could end up becoming the hedge of choice like nuBits has managed to become on bter and ccedk.
I wasn't aware that funds got locked up for that long in shorts. I think the developers are working on bots and this (hopefully). Out of interest, isn't nuBits just another alt-coin that suffers the same volatility issues as Bitcoin? In otherwords there is no way to know in reality where the price will actually end up making its useful as a hedge more a gamble than anything else?
30 days would be the maximum time (not minimum)
David Van Wagner
they lost me at "investing money in bitcoin mining"and selling "bitcoin mining contracts".
bitmarket,
I've got a great topic I think you should cover for your next video. I came up with this idea this morning and was thinking of writing an article, but I think with your presence and reach, you could turn this into a better video that something I could come up with.
The article / video would be titled 'Is this why an altcoin will never conquer bitcoin?' and it would be about the legend of Satoshi himself. Its my belief that had Satoshi not been anonymous, and was named Tom Anderson, or Gavin, or whatever, people would not be so blind to recognize Bitcoin's ultimate structural flaws. I think that the lore of Satoshi really caters to peoples desires of believing in higher powers, superheroes, and good guys in the shadows fighting against the powers that be for the benefit of all mankind, the direct evidence being the billions of dollars being spent in Hollywood on superhero movies. The community gets very upset whenever some attention seeking individual attempts to unmask him.
I also want to add in this point - do you remember the hacker who hacked Satoshis account and threatened to reveal his identity if the world paid him enough bitcoin? If that hacker was really that smart, what he SHOULD have done was to buy up as much of a particular coin as possible, then impersonate Satoshi with an 'official' endorsement of said coin. Unless this hacker was broke from the start, he could have cleaned up on such an announcement - instead, he made the hack about himself rather than the money. Then you can talk about Satoshi vanishing back into the shadows, and speculate if the Bitcoin of today is exactly as he wanted or if he is flexible enough to incorporate new ideas. Further speculate the belief that this mythological status of Satoshi is why some can't see that just because a brilliant invention opened so many doorways, that everything that's associated with it is the pinnacle of perfection. To some, its like finding out (SPOILER ALERT) Santa isn't real.
I think a video like this would be very controversial and would draw in a lot of viewers. Its probably not even necessary to mention BitShares.
EDIT: People don't want to know who Satoshi is because they don't want to be let down.
Network effect doesn't happen in days. It happens in months or even years, and the bitshares marketing plan will happen in this timeframe.
And it seems to me that in the cryptoworld, people are very ready to change : the network effect is clearly not the same as for IRL objects. You can't change your samsung into an Iphone, so once you bought it, you're fucked. It's not the same at all for cryptos. People have no reason to be faithful. Owning bitcoins is clearly not as engaging as owning shares : you can transfer all your bitcoins into bitshares overnight, and you will have no awkward social interaction with a banker that will claim he has always been asking for your best interest.
Money flow free in the new world that is built here, and I bet that it will pour to the best solution.
