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Messages - luckybit

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61
General Discussion / Re: Ethereum price discussion
« on: February 11, 2016, 09:39:56 pm »
Quote from: morpheus on February 11, 2016, 06:03:34 pm
I would think we would see a pullback here at the top of this range and consolidation for a few days or a week to the lower trendline but I could be wrong.  Indicators are off the charts but I remember in early 2013 bitcoin, these same indicators stayed off the chart for weeks.  This seems to be a steeper incline than that though, so the rise may not go as far. 



Ethereum is probably worth at least 1 billion dollars. It can and should go higher. Bitcoin is 5 billion and it isn't general purpose, it doesn't have the capability of governance, it's not as extensible.


https://www.ibtimes.co.uk/r3-connects-11-banks-distributed-ledger-using-ethereum-microsoft-azure-1539044

62
General Discussion / Re: Should we Abandon Proof of Stake Marketing?
« on: February 06, 2016, 04:19:03 pm »
While I don't think we should change marketing of DPOS. An alternative could be collaborative consensus algorithm. @bytemaster

63
General Discussion / Re: [Referral Program] Lower Socialist Taxes. Increase Capitalist Opportunities
« on: February 05, 2016, 08:44:00 am »
Maybe the referral program can be paused if the network reaches above a certain sustainable market cap? Currently the referral program is really the only thing Bitshares has. There is no other way to earn Bitshares and very little liquidity for trade activity so what do you want to get rid of the referral program for?


64
General Discussion / Re: [Referral Program] Lower Socialist Taxes. Increase Capitalist Opportunities
« on: February 05, 2016, 08:31:17 am »
Quote from: Frodo on February 04, 2016, 07:15:01 pm
Quote from: Xeldal on February 04, 2016, 05:59:32 pm
I think bitshares operating as a for profit business is a turn off to other business as it adds to baseline cost. 
Instead I think bitshares should operate as a non-profit neutral platform for business to make their own profit.
Collect what is necessary to pay operating cost and that is it. IMO.

Why would anyone want to develop and maintain BTS as a non-profit platform?
The one thing that BitShares is really good at is a strong incentive structure for maintaining and expanding the chain. I absolutely don't get why we would want to kill that off.

To drive the price down obviously. Some people think a BTS should be much cheaper.

65
General Discussion / Re: The Alexanria project needs help from your community
« on: February 05, 2016, 08:29:08 am »
I don't think BlockTech will ever consider anything related to Bitshares. It's a waste of time.

66
General Discussion / Re: Should we Abandon Proof of Stake Marketing?
« on: February 05, 2016, 08:23:29 am »
Quote from: bytemaster on February 04, 2016, 09:06:55 pm
Proof of Stake seems to mean different things to different people. The early POS systems where flawed. In most of the discussions on POS I see people throwing out strawmen.  Even worse, people won't give anything with a POS label the time of day, they have already written it off.

So when we say DPOS we automatically lose people. We need to get through people's knee jerk reactions.

So I am curious if there is another way to describe DPOS consensus without using POS.

Absolutely not. Stop competing for the same people over and over again. Bitcoin is one group of people, and there is a limited number of people who are interested in cryptocurrency enough to care about the technical specifics like Proof of Stake vs Proof of Work vs DPOS. Basically, the majority of people are never going to care.

And the people who are technically inclined will care, and must know the specs of Bitshares. Not everyone who is into technical details will be America, white, male, with a cypherpunk background. Not everyone will have had the chance to be an early miner (pre-ASIC). So for the most part DPOS can be marketed.

On the other hand once mining actually becomes decentralized again (and it will), and beneficial (folding proteins and searching for aliens), that is when Proof of Stake might be at a slight disadvantage, but again. Market MineBitshares to make Bitshares less susceptible. Don't stop marketing POS.  That kind of flip flopping only shows weakness and insecurity.

67
General Discussion / Re: Bitshares price discussion
« on: January 28, 2016, 07:53:15 am »
Quote from: bytemaster on January 26, 2016, 11:01:51 pm
I confess to selling from ANGEL today to cover some expenses.   Unfortunately, I sold just prior to the big pump :( 

On the brighter side super33 appears to be out of BTS to sell.

That is not a good sign. Super3 is maybe the largest and earliest individual holder in BTS and mined the first block. If he sold at these prices it's not a good sign considering how many he had and how much it could be worth when the price is up.

68
General Discussion / Re: Bitcoin sidechain instead of bitBTC ?
« on: January 27, 2016, 06:25:31 am »
Quote from: jsidhu on January 27, 2016, 06:18:00 am
Quote from: BunkerChain Labs on January 26, 2016, 07:57:13 pm
We can accomplish this with a pretty straight forward Smart Contract on Bitshares I believe.

The process would basically involve creating an EBA (UIA) that interfaces with a hosted wallet of said coin.

Similar to how blocktrades works, a deposit address associated with the EBA would be generated.

When the deposit hits the address a transaction is sent via the smartcontract to issue the EBA to the associated Bitshares account.

When the user wants to withdraw, they would perhaps send the amount they want to withdraw to a given bitshares address with a certain memo to specify the target address. The EBA is removed from their account and the coin is transferred to where ever they wanted it to go.

This would require maintaining a very secure environment.. but it's been done before.

This would effectively transfer coins in and out of bitshares in their full value.

It's doable.. I bet blocktrades is already like 90% of the way there. :)
You need acct for cross chain coin transfers...

Bitshares is capable of ACCT.

69
General Discussion / Re: CoinDesk: OBITS Positions for Bright Future with OpenLedger on BTS 2.0
« on: January 18, 2016, 08:46:46 pm »
Quote from: ccedk on January 18, 2016, 03:35:46 pm
DK, January 18, 2016 at 15:14 GMT

Market maker and cryptocurrency OBITS is celebrating the end of its crowdsale with its first buyback, a dividend option and a new fiat gateway on FinTech DEX OpenLedger.

New cryptocurrency OBITS has made waves in the ecosystem by raising more than 700 BTC in its public crowdsale, equivalent to $270,000 – all of which is earmarked for development costs. Now moving into its second phase, the first buyback will take place on 2 February 2016, and future profits will be used for market-making and to add value to the end users of the OpenLedger platform. Users will also be able to vote on a dividend option, meaning this may be the last buyback ever.

http://www.coindesk.com/press-releases/obits-positions-bright-future-openledger-bts-2-0/

If it's the last buy back ever, how would oBits raise funds in the future?

70
General Discussion / Request for metrics
« on: January 17, 2016, 02:45:03 am »
1) How many users of Bitshares are there this month compared to last month?
2) How many accounts have been made?
3) What is the rate of account creation each month?


71
Random Discussion / Re: "Some Trolls Could Be Paid Agents"
« on: January 16, 2016, 07:41:51 pm »
Quote from: roadscape on January 13, 2016, 04:03:45 am
"I don't think they are being paid." said the paid agent :P

If people were being paid where would the money be going? It's not going into BTS.

72
General Discussion / Re: How to take the most out of STEALTH
« on: January 10, 2016, 12:33:22 pm »
Quote from: Akado on January 09, 2016, 12:18:54 am
@bytemaster

What about Dark Pools? Similar to Kraken? Stealth is all about privacy. Couldn't we introduce a dark pool system where a user could place an offer without it showing on the orderbooks? Couldn't that solve the problem of stealth accounts placing orders?

You still might not be able to use a stealth account and place orders, however, you can place orders without others knowing.

This complements this privacy component people seem to care about. I don't know about it's feasibility, maybe mask it as a standard transaction, maybe use another method, but this goes in well with stealth. That way people can still have privacy while placing orders and even facilitate users get better prices.

http://blog.kraken.com/post/121063219162/introducing-the-kraken-dark-pool

What problem of stealth accounts placing orders? How do you lose anonymity by placing orders on order books? If no one links the account to you then it's private.

73
Random Discussion / Re: "Some Trolls Could Be Paid Agents"
« on: January 10, 2016, 01:11:57 am »
To make some points. Bitcoin has been under DDOS many times before. The failed BitcoinXT fork also suffered from DDOS. Trolls in the current context don't have to be paid because there is enough philosophical division on it's own for this to arise.

On the other hand if it were intelligence agencies and not just amateur trolls then the entire development team would be fractured, members would quit under mysterious circumstances, and questionable development decisions would be made. As of right now it would seem the development itself might be philosophically split but each side seems to want to make Bitcoin better or promote a certain agenda to appeal to a certain audience.

It has happened on Bitsharestalk before that sometimes someone will post some ridiculous FUD to try to get everyone to act a certain way. Other times people are genuinely concerned. So it really depends on who is saying it, and most of the time it's better to take people at face value until they show they have an agenda.


74
Random Discussion / Re: "Some Trolls Could Be Paid Agents"
« on: January 10, 2016, 01:03:31 am »
Quote from: bitacer on January 09, 2016, 09:40:46 pm
I found this funny and strange at the same time. I think as crypto space gets more crowded there will be some frictions to be observed. Lets see whats going to happen.  :-\

"Andreas Antonopoulos: Trolls are Disrupting Bitcoin Development"

the rest: http://insidebitcoins.com/news/andreas-antonopoulos-trolls-are-disrupting-bitcoin-development/35829

I don't think they are being paid. They might be threatened or have been approached by government entities and that could enough to coerce their public opinions.

A lot of people could have received national security letter or visits by various agencies and not given many options. Also consider a lot of people involved in Bitcoin actually were proudly involved in criminal activity early on and all of those activities were tracked on the blockchain. This allows law enforcement or whomever to approach any of the more criminal early adopters with get out of jail free cards in exchange for whatever.

So I don't think you'll get very far trying to figure out who is being paid. On the other hand if the person had any involvement with Silk Road or anything questionable then law enforcement by now may have approached any of these sorts of people.

If you're talking about intelligence agencies? They aren't going to pay anyone to troll either. They don't care about laws at all and will simply threaten people's families, blackmail, run scams or extort. The law simply doesn't exist to them. So I would say based on my understanding, most of what you see on the blogs about "paid trolls" is just paranoia of the Bitcoin community.

There may be some people in the Bitcoin community who have been corrupted but this is to be expected in any community with a lot of money at stake. If you also know intelligence agencies around the world know about Bitcoin then you really shouldn't trust any of the core developers to be immune to being manipulated or corrupted. Assume everyone in any position of authority is already an agent or will be made into one if the market cap is high enough.

Bitshares isn't immune either which is why it has to be decentralized. Anyone who can be targeted probably is already being targeted. Anyone who is important to the Bitcoin debate or any kind of thought leader is already on the radar of intelligence agencies. If situations get bad, at least with Bitshares there can be anonymous witnesses and developers who can take over, but do not assume anyone who isn't anonymous is somehow invincible to any government which may target them.



75
General Discussion / Re: Someone Give Me a Reason To Keep Holding BTS
« on: January 08, 2016, 08:27:16 am »
Quote from: clout on January 07, 2016, 09:59:59 pm
Quote from: luckybit on January 07, 2016, 09:38:37 pm
If you have to ask this question then maybe it's time for you to sell.

If you cannot find an objective and rational reason to hold, to stay, then perhaps you shouldn't.
Quote from: luckybit on January 07, 2016, 09:43:09 pm
Quote from: jaran on January 07, 2016, 09:27:15 pm
I feel like bitshares is stuck between is it a platform for other businesses/developers to build on or is it an exchange company?

In either case there are design issues.  For example no way people are going to build on a platform where in order to get your app/business on you have to get people to vote for it etc.

Alternatively look at ethereum...its clearly a platform that wants others to build on top of it.  And many have already.

We all have complains and concerns. I've complained about the lack of micropayment capability as being a main hindering factor. I've complained about the lack of bonds or similar functionality as being a limiting factor. Of course there is no place to collect yield in Bitshares 2.0, so of course there are a lot less people holding in Bitshares 2.0. What did anyone expect?

And of course BitUSD isn't successful because without micropayments it never will be. People around the world and in poorer parts of the US are getting paid in what Silicon Valley developers would call micropayments. Without the ability to pay micropayments you miss the majority of payment types which take place online.

Now it's time to be tough. You can either hold no matter what, even if BTS goes to  0.001 and lower, and wait the situation out, or you can sell now and get out before the next seemingly inevitable price drop. Until the exchange has bond markets, lots of unique assets, prediction markets, stealth, and we have micropayments, we can't really say Bitshares 2.0 is good enough to deserve a $100,0,000,000 marketcap or even a $50,000,000 marketcap.

Bitshares is at a low price because that is where it's current utility is. Unless more utility is built around it, it's not supposed to be priced higher than it's worth. Ethereum is actually over priced due to hype and should be $20,000,000 or less, but it's Ethereum.

Hahah i don't know why you're stuck on micropayments. That's simply not where the money is.

I sold a month or so ago when Dan made the post about vision. I realized then that this going nowhere. Dan's too much of an idealist and this project has lived and died by that ethos.

A currency lives and dies on micropayments. Micropayments are the only reason people will adopt cryptocurrency at all. It's not like people aren't already getting paid in their local currencies so why would they care about BitUSD or BitCNY or any of these strange niche currencies that can't even do micropayments?

On the other hand once they can do micropayments and people gain some experience with them, the size of the community grows. Even if it grows bottom up, from the poorest on up, it's still able to grow. While now it's not growing very much because only rich people are being targeted and expected to buy BTS without anything they can do with it.

If there is no yield you shouldn't expect to attract rich people to hold anything.

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