181
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182
General Discussion / Advertise upcoming DACs directly through the Bitshares X client interface
« on: August 07, 2014, 12:26:40 pm »
The addition of a banner or some form of direct advertising within the Bitshares client could be both effective and provide a useful information service to the user investor.
The user investor might want to see a visualization of future snapshots, receive information about future DACs, receive bulletin alerts and so on.
This would allow Toast and Hackfisher to advertise directly to Bitshares X users. It would also make sense if PTS had advertisements and similar information in it's client window as well.
In my opinion this move is similar to the move made by Microsoft to build Internet Explorer into Microsoft Windows.
The banner could go across the bottom window, be non-intrusive, and activated by default. The user could always de-activate it but we could encourage users to keep it activated by alerting the latest/newest information to this banner. The users who want to keep up to date with the latest snapshot information, latest development, latest press releases, newsletters, etc, would just leave the banner running.
The user investor might want to see a visualization of future snapshots, receive information about future DACs, receive bulletin alerts and so on.
This would allow Toast and Hackfisher to advertise directly to Bitshares X users. It would also make sense if PTS had advertisements and similar information in it's client window as well.
In my opinion this move is similar to the move made by Microsoft to build Internet Explorer into Microsoft Windows.
The banner could go across the bottom window, be non-intrusive, and activated by default. The user could always de-activate it but we could encourage users to keep it activated by alerting the latest/newest information to this banner. The users who want to keep up to date with the latest snapshot information, latest development, latest press releases, newsletters, etc, would just leave the banner running.
183
General Discussion / First mover advantage may be a myth, new research
« on: August 06, 2014, 06:06:46 am »
http://www.bankofcanada.ca/2014/08/working-paper-2014-33/
My interpretation on this research and on other evidence is that the network effect we see in Facebook and Microsoft Windows may be the result of government interference in the form of favoritism rather than some natural economic trend. Governments give advantages to corporations that are their friends and this supersedes the free market.
I'm not entirely certain if network effect or first mover advantage provide a competitive edge in an entirely free market without governments picking winners and losers but if anyone can show me some network effect examples then I might change my mind.
In the case of cryptocurrencies I don't see why network effect or first mover advantages would take hold when less than 1% of the global population has tried cryptocurrency. The tipping point for spreading an idea is 10% and we are perhaps decades away from that. http://news.rpi.edu/luwakkey/2902
So it could be that Bitcoin is only in the lead with people who have specific political views and that it will not remain in the lead 5 years from now when the rest of the world gets on board. I'm convinced the world wants cryptocurrency but not everyone is an anarchist and even amongst ourselves we don't all consider ourselves anarchists. Minarchists for example are popular around here.
What happens when statists start using cryptocurrency? Is the slow adoption rate a sign that the majority of the people in the world are authoritarian statists who don't care about privacy or freedom?
My interpretation on this research and on other evidence is that the network effect we see in Facebook and Microsoft Windows may be the result of government interference in the form of favoritism rather than some natural economic trend. Governments give advantages to corporations that are their friends and this supersedes the free market.
I'm not entirely certain if network effect or first mover advantage provide a competitive edge in an entirely free market without governments picking winners and losers but if anyone can show me some network effect examples then I might change my mind.
In the case of cryptocurrencies I don't see why network effect or first mover advantages would take hold when less than 1% of the global population has tried cryptocurrency. The tipping point for spreading an idea is 10% and we are perhaps decades away from that. http://news.rpi.edu/luwakkey/2902
So it could be that Bitcoin is only in the lead with people who have specific political views and that it will not remain in the lead 5 years from now when the rest of the world gets on board. I'm convinced the world wants cryptocurrency but not everyone is an anarchist and even amongst ourselves we don't all consider ourselves anarchists. Minarchists for example are popular around here.
What happens when statists start using cryptocurrency? Is the slow adoption rate a sign that the majority of the people in the world are authoritarian statists who don't care about privacy or freedom?
184
General Discussion / Atomic cross chain transfer of shares from between DACs?
« on: July 28, 2014, 08:06:16 pm »
Suppose I have Bitshares XI, market pegged BitAssets are working, and someone offers an IOU for Bitshares Music (say it's offered by the company).
How could we set it up so I could buy shares of the BitAsset from within Bitshares XI and then have it transfer to the shares invisibly to my Bitshares Music account? From DAC to DAC?
If we can do that then user assets would be perfect for DACs to do IPOs. If the process can be automated then you'd buy the shares in the IPO on the Bitshares X client and within the Bitshares X client set your receiver address so that it withdraws the value to the DAC of your choice. The magic should take place behind the scenes without you having to necessarily trust anyone.
Bytemaster mentioned something like this for bitBTC IOU. In that case we would have to rely on a trusted person? If we could automate it then maybe we could only have to rely on a trusted process where one DAC somehow transfers value to the other such as atomic cross chain transaction? In Mastercoin I was able to buy Bitcoins using Mastercoins in a decentralized manner without any trust involved and I believe the same process is possible with Counterparty.
I believe it would bring unbelievable utility. The less excuses people have to leave the Bitshares X platform the better.
How could we set it up so I could buy shares of the BitAsset from within Bitshares XI and then have it transfer to the shares invisibly to my Bitshares Music account? From DAC to DAC?
If we can do that then user assets would be perfect for DACs to do IPOs. If the process can be automated then you'd buy the shares in the IPO on the Bitshares X client and within the Bitshares X client set your receiver address so that it withdraws the value to the DAC of your choice. The magic should take place behind the scenes without you having to necessarily trust anyone.
Bytemaster mentioned something like this for bitBTC IOU. In that case we would have to rely on a trusted person? If we could automate it then maybe we could only have to rely on a trusted process where one DAC somehow transfers value to the other such as atomic cross chain transaction? In Mastercoin I was able to buy Bitcoins using Mastercoins in a decentralized manner without any trust involved and I believe the same process is possible with Counterparty.
I believe it would bring unbelievable utility. The less excuses people have to leave the Bitshares X platform the better.
185
General Discussion / Automatic reinvestment of profits into user selected assets
« on: July 23, 2014, 07:50:00 pm »
Example: https://en.wikipedia.org/wiki/Dividend_reinvestment_plan
"Because DRIPs, by their nature, encourage long-term investment, rather than active trading, they tend to have a stabilizing influence on stock prices."
Suppose a user makes a profit and wants to invest between 1-100% of it into a market or user asset? Can we have this feature?
Suppose a delegate reinvests 100% of their profits directly into a user asset? Suppose the user wants to reinvest into an array of assets which meet a certain set of conditions? Could it be automated?
Example 2: http://www.dividendgrowthinvestor.com/2008/10/are-drips-worth-it.html
"The abbreviation DRIP stands for dividend reinvestment plans. Drips are a nice low cost way to purchase dividend stocks and build a stock portfolio. These programs allow investors to purchase shares in two ways either through reinvesting dividends or with optional cash payments that can be sent to the companies you want to invest in. One benefit of drips is that they allow dividend reinvestment in partial shares. Another benefit of other drips is that some allow reinvesting your dividends by purchasing shares at a discount to the market price. Two such companies that I am aware of that do this are ACAS and NNN. Below you can also check my analysis of ACAS and NNN."
One of the issues with drips is that in order to participate in the DRIP you must already have purchased one share of the company stock. Some companies have overcome that hurdle for shareholders by letting people make a direct purchase in their stock. Stocks like GE or XOM are good examples of direct purchase plans with reinvestment plans."
Are features like these planned?
"Because DRIPs, by their nature, encourage long-term investment, rather than active trading, they tend to have a stabilizing influence on stock prices."
Suppose a user makes a profit and wants to invest between 1-100% of it into a market or user asset? Can we have this feature?
Suppose a delegate reinvests 100% of their profits directly into a user asset? Suppose the user wants to reinvest into an array of assets which meet a certain set of conditions? Could it be automated?
Example 2: http://www.dividendgrowthinvestor.com/2008/10/are-drips-worth-it.html
"The abbreviation DRIP stands for dividend reinvestment plans. Drips are a nice low cost way to purchase dividend stocks and build a stock portfolio. These programs allow investors to purchase shares in two ways either through reinvesting dividends or with optional cash payments that can be sent to the companies you want to invest in. One benefit of drips is that they allow dividend reinvestment in partial shares. Another benefit of other drips is that some allow reinvesting your dividends by purchasing shares at a discount to the market price. Two such companies that I am aware of that do this are ACAS and NNN. Below you can also check my analysis of ACAS and NNN."
One of the issues with drips is that in order to participate in the DRIP you must already have purchased one share of the company stock. Some companies have overcome that hurdle for shareholders by letting people make a direct purchase in their stock. Stocks like GE or XOM are good examples of direct purchase plans with reinvestment plans."
Are features like these planned?
186
General Discussion / Ethereum crowd sale is live
« on: July 23, 2014, 02:31:35 pm »
So far they have raised over 4000 BTC in a matter of hours. It seems to be relatively few donors contributing a whole lot of BTC very quickly.
I think investing is a high opportunity cost. I think mining on the other hand could be great if its something we can mine with our CPUs.
https://blog.ethereum.org/2014/07/22/launching-the-ether-sale/ 2000 ETH per BTC.
http://www.coindesk.com/ethereum-launches-ether-coin-millions-already-sold/
http://cointelegraph.com/news/112129/ethereum-raises-3700-btc-in-first-12-hours-of-ether-presale
https://www.youtube.com/watch?v=BwPulJKP1_Y&feature=youtu.be
Ethereum right now is an experiment. A lot of variables which keep changing. While it might be a good idea to have some small amount I don't see a reason to throw large amounts of Bitcoins at it.
I wish them luck though. Their project is quite important for the ecosystem.
I think investing is a high opportunity cost. I think mining on the other hand could be great if its something we can mine with our CPUs.
https://blog.ethereum.org/2014/07/22/launching-the-ether-sale/ 2000 ETH per BTC.
http://www.coindesk.com/ethereum-launches-ether-coin-millions-already-sold/
http://cointelegraph.com/news/112129/ethereum-raises-3700-btc-in-first-12-hours-of-ether-presale
https://www.youtube.com/watch?v=BwPulJKP1_Y&feature=youtu.be
Ethereum right now is an experiment. A lot of variables which keep changing. While it might be a good idea to have some small amount I don't see a reason to throw large amounts of Bitcoins at it.
I wish them luck though. Their project is quite important for the ecosystem.
187
General Discussion / Should Bitshares fees adjust according to the price of BTC?
« on: July 19, 2014, 09:57:25 pm »
Suppose Bitshares is a success but the price of BTC is rising much faster?
Should Bitshares have dynamic transaction fees which go up or down in relation to the price of BTC?
If someone is coming from BTC when the price is going up they might be willing to pay higher fees but if the price of BTC is going down they might be more sensitive to the price of fees.
Market research on spending habits indicate that people who hold BTC spend more of it when the price is going up. This may also indicate they are willing to pay higher fees.
Should Bitshares have dynamic transaction fees which go up or down in relation to the price of BTC?
If someone is coming from BTC when the price is going up they might be willing to pay higher fees but if the price of BTC is going down they might be more sensitive to the price of fees.
Market research on spending habits indicate that people who hold BTC spend more of it when the price is going up. This may also indicate they are willing to pay higher fees.
188
General Discussion / Proof of Stake is currently Pay-to-Win, what should we do about it?
« on: July 02, 2014, 03:47:28 am »
This is a question to the community about Proof of Stake in general.
I realize DPoS has delegates and that we can shuffle the delegates as a way to keep it somewhat decentralized. It's still Pay-to-Win as a distribution model but it's not as bad as Bitcoin because at least there is some small statistical possibility that you could become a delegate.
The reason Pay-to-Win is a problem is because the gaming community does not generally view Pay-to-Win as fair. Because it is not viewed as fair play it is not considered fun and as a result the games which seem more fair tend to attract the attention of the masses.
Bringing Bitshares technology to the masses and the problem of Ultimate Champions
How do we market Bitshares technology to the global masses? The global masses all want to feel like they have a chance to win and if the only way to play the game is to pay and the people who pay the most win by default every time then the previous winners become ultimate champions who no one can afford to defeat.
Worst of all it can open Bitshares up to the 1% attack where whoever has the most money on earth could simply buy the stakes all up. I recognize this attack is really only theoretical and rhetorical but it means if it's a guaranteed victory for rich players via Pay-to-Win then it's only a matter of time before centralization of wealth does occur.
Pros and Cons of the Pay-to-Win distribution model
There are Pros and Cons to keeping the Pay-to-Win. In the short term it could make some of the large holders on the forum very rich a lot quicker and easier. In general a person seeking to get rich may not care about the future of the technology itself and may just be waiting to cash out when traditional banks figure out they have to buy the shares, Bitcoins, or whatever.
On the other hand the long term consequence of Pay-to-Win is that you will not be able to market it to the masses. People outside of the first world do not want Pay-to-Win and people within the first world who don't have very much to pay still want a chance to win.
So this post is to initiate a discussion on the flaw of PoS (or feature if you're trying to get rich quick) which is PtW. What should be done about this or should we embrace it?
I realize DPoS has delegates and that we can shuffle the delegates as a way to keep it somewhat decentralized. It's still Pay-to-Win as a distribution model but it's not as bad as Bitcoin because at least there is some small statistical possibility that you could become a delegate.
The reason Pay-to-Win is a problem is because the gaming community does not generally view Pay-to-Win as fair. Because it is not viewed as fair play it is not considered fun and as a result the games which seem more fair tend to attract the attention of the masses.
Bringing Bitshares technology to the masses and the problem of Ultimate Champions
How do we market Bitshares technology to the global masses? The global masses all want to feel like they have a chance to win and if the only way to play the game is to pay and the people who pay the most win by default every time then the previous winners become ultimate champions who no one can afford to defeat.
Worst of all it can open Bitshares up to the 1% attack where whoever has the most money on earth could simply buy the stakes all up. I recognize this attack is really only theoretical and rhetorical but it means if it's a guaranteed victory for rich players via Pay-to-Win then it's only a matter of time before centralization of wealth does occur.
Pros and Cons of the Pay-to-Win distribution model
There are Pros and Cons to keeping the Pay-to-Win. In the short term it could make some of the large holders on the forum very rich a lot quicker and easier. In general a person seeking to get rich may not care about the future of the technology itself and may just be waiting to cash out when traditional banks figure out they have to buy the shares, Bitcoins, or whatever.
On the other hand the long term consequence of Pay-to-Win is that you will not be able to market it to the masses. People outside of the first world do not want Pay-to-Win and people within the first world who don't have very much to pay still want a chance to win.
So this post is to initiate a discussion on the flaw of PoS (or feature if you're trying to get rich quick) which is PtW. What should be done about this or should we embrace it?
189
General Discussion / Will Bitshares X be able to implement distributed oracles?
« on: June 18, 2014, 03:57:00 pm »
If we had something like this we could do all sorts of things. It also doesn't seem like it would be that difficult to program for a guy like Bytemaster.
So could we have distributed oracles in Bitshares X?
Here is a whitepaper on distributed oracles https://github.com/orisi/wiki/wiki/Orisi-White-Paper
So could we have distributed oracles in Bitshares X?
Here is a whitepaper on distributed oracles https://github.com/orisi/wiki/wiki/Orisi-White-Paper
190
General Discussion / API Network crowd sale today
« on: June 18, 2014, 03:14:03 pm »
http://www.apinetwork.co/
Opinions? I think this could be worth buying into but I'd like the community consensus.
Opinions? I think this could be worth buying into but I'd like the community consensus.
191
General Discussion / Bitshares + Vennd
« on: June 18, 2014, 12:43:48 pm »
This is a crypto-vending machine which Bitshares needs.
http://www.vennd.io/
https://www.youtube.com/watch?v=ABeQb8IHsTo
http://www.vennd.io/
https://www.youtube.com/watch?v=ABeQb8IHsTo
192
Technical Support / Could a BitAsset act as a Bitshares "Prototype"?
« on: June 18, 2014, 08:40:37 am »
Suppose we have a custom chain of Bitshares where we have some new ideas which we want to track the support of. Could we put our prototypes as BitAssets and let people buy them, hold them, and them do a sharedrop to people who redeem those BitAssets?
Or is my understanding of this article incorrect
http://bitshares.org/bitshares-prototypes-much-more-than-an-altcoin/
Or is my understanding of this article incorrect
http://bitshares.org/bitshares-prototypes-much-more-than-an-altcoin/
193
General Discussion / Bitcoin is looking more centralized every day.
« on: June 12, 2014, 02:49:28 am »
With Reddit talking about 51% attacks now it is a good opportunity to talk about DPoS and Bitshares.
http://www.reddit.com/r/Bitcoin/comments/27xke9/is_bitcoin_equivalent_to_compuserve/
http://www.reddit.com/r/Bitcoin/comments/27xke9/is_bitcoin_equivalent_to_compuserve/
194
General Discussion / Black Halo (an innovation from the Blackcoin community)
« on: June 07, 2014, 11:04:02 pm »
It's worth it to take a look. There may be some ideas worth borrowing for Bitshares.
http://www.reddit.com/r/blackcoin/comments/27kbhf/bithaloblackhalo_video_from_private_beta/
https://www.youtube.com/watch?v=1mpNYCasuGE
http://www.reddit.com/r/blackcoin/comments/27kbhf/bithaloblackhalo_video_from_private_beta/
https://www.youtube.com/watch?v=1mpNYCasuGE
195
General Discussion / Innovation Index
« on: June 06, 2014, 11:34:52 pm »
Is there a theoretical way to track the quantity and quality of innovations within a crypto community or within the crypto-sphere as a whole?
Could it become something which could be used as a marketing point, metric, or tool to measure the inherent wealth / value of a community?
It's my opinion that in a knowledge economy it's all about the quantity and quality of innovation. The innovator is what we all strive to be. Satoshi Nakamoto is a good example of the innovator as an archetype. It is also my opinion that only communities with a sustained winning streak of innovations will thrive in this space.
Not all innovation is technical innovation. We need a way to track every new innovation in any form no matter which community it came from and list it on a wiki somewhere.
Some examples of innovation indexes below:
https://en.wikipedia.org/wiki/Global_Innovation_Index
http://www.globalinnovationindex.org/content.aspx?page=framework
Could it become something which could be used as a marketing point, metric, or tool to measure the inherent wealth / value of a community?
It's my opinion that in a knowledge economy it's all about the quantity and quality of innovation. The innovator is what we all strive to be. Satoshi Nakamoto is a good example of the innovator as an archetype. It is also my opinion that only communities with a sustained winning streak of innovations will thrive in this space.
Not all innovation is technical innovation. We need a way to track every new innovation in any form no matter which community it came from and list it on a wiki somewhere.
Some examples of innovation indexes below:
https://en.wikipedia.org/wiki/Global_Innovation_Index
http://www.globalinnovationindex.org/content.aspx?page=framework
