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Messages - luckybit

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General Discussion / Re: Someone Give Me a Reason To Keep Holding BTS
« on: January 07, 2016, 09:51:31 pm »
  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.

This is incorrect. The only time a business needs votes is if they require a protocol change or expect the blockchain to pay for something.

To contrast with Ethereum, which also freely allows anyone to build on top of it, there is not mechanism for shareholders to vote for features, forks, etc. A problem they are currently struggling with.

Ethereum practically has no users. It's entirely developers. It has no GUI last I checked. It's not able to scale effectively last I checked. The smart contract capability is not as secure as it needs to be last I checked.

Ethereum isn't really much better than Bitshares. For many things Ethereum clearly isn't better, such as decentralized exchange. For other things Ethereum is only temporarily better, such as with smart contracts, but the Ethereum smart contracts aren't implemented in the best possible way either so it's not sensible to copy their approach.

In the end Ethereum and Bitshares 2.0 are pretty much neck and neck in terms of functionality and utility. Ethereum on the other hand actually has Augur in development, actually has more apps in the pipeline, and that is the only reason there is more excitement around it. Not because Bitshares can't do the same stuff but because Ethereum is doing what we keep saying Bitshares needs to do.

General Discussion / Re: Someone Give Me a Reason To Keep Holding BTS
« on: January 07, 2016, 09:43:09 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.

General Discussion / Re: Someone Give Me a Reason To Keep Holding BTS
« 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.

General Discussion / Re: Let`s kickstart the Stock derivatives Market
« on: January 04, 2016, 06:43:01 am »
BitUSD will never work without micropayment capability. It's impossible to market it to the globe without micropayments. It's impossible to have a truly useful global currency without microtransactions.

With micropayments a worker can take the job which pays a penny or less. You can't offer these jobs at all right now because you don't have the capability to do it decentralized. This means the majority of workers in the world will have to go somewhere else to work, which means BitUSD is useless since less than a few hundred people have ever earned it directly and most of us on the forum haven't even earned it.

Brownies are only slightly better but it's totally centralized distribution. EarnBitshares can work if there are micorpayments, and if there aren't, then some substitute currency can work in the background and be exchange for Bitshares to create demand. But either way, micropayments are the only way the whole world will care about Bitshares.

General Discussion / Re: Let`s kickstart the Stock derivatives Market
« on: January 04, 2016, 06:34:38 am »
What is needed to bring Stock derivatives online?
If I understand it correct the Committee could bring in a lot of MPAs that reflect the price of real Stocks, ETFs etc?
What is holding us back in creating those assets?

I would love to diversify my portfolio by mixing it with many more kinds of investments.
We could be the first Exchange to trade really anything.

This would bring us a lot of attention and thus more users and liquidity.
We should bring ever week a couple of new assets.
every week in the news
growing a bit every week


Unfortunately none of the MPAs/bitassets/smartcoins are serving there purpose due to lack of liquidity, large spreads and no depth.

All efforts should be focused on getting bitUSD and bitCNY functioning with low spreads and market depth.

We are a long way from having stock market indexs as MPAs let alone individual stocks.

There is no demand for BitUSD or BitCNY because currently Bitshares is just a programmers toy. In order to change this we need EarnBitshares so anyone can earn BitUSD, BitCNY, and only then will it gain some real value.

You currently have no simple ways to earn or spend it. With limited ways to earn or spend it, can we expect any demand for it? Microwork is how you can generate demand for it by marketing it to the people most likely to use it. A microjob (a job which pays in micropayments) is how you market a currency. Currencies are marketed by the jobs which pay in that currency.

What seems to be holding Bitshares back is the lack of micro-payment capability. Without that you don't have the possibility of microwork. WIthout microwork, the vast majority of the earth cannot earn BitUSD and it's just going to remain a programmers toy.  With microwork, every human can contribute human computation to earn Bitshares and the chicken and egg problem is solved.

I don't think Bitshares is on the path to solve this problem anytime soon so it looks like we should keep our eye on Iota. A collaboration with their team might be the only option.

General Discussion / Re: Mutual Aid Society [BLOG POST]
« on: December 31, 2015, 05:56:55 am »

What about the effect of compound interest on this? If a person keeps paying in, and paying in, eventually what they pay in can snowball.


we will do the next buyback on monday Janary 4th between 8pm - 9pm CET on this market again

Now everyone knows to buy just before the time you gave. The buyback in the future might work best if the time and date of it is kept random.

General Discussion / Re: 2016 Vision Blog Post
« on: December 29, 2015, 07:21:11 am »
The entire "cryptocurrency isn't property" argument is really hard for me to follow.

Any "property" which you can't protect with your body (the theft of which would then require violating NAP) is protected for you by the government via property laws.

Your car deed is also a shared societal perception that the car "belongs" to you. If I come hotwire it while you are asleep, by your own reasoning I have not violated NAP.

A lot of anarchists don't believe in property rights other than what you can carry, and it's not an invalid argument, I just think it's not what you actually believe.

Personal property vs private property. Personal property is the most essential property to defend while private property might just be owned by a corporation or by some sort of a cartel.

General Discussion / Re: Q1 2016 Expectations for BitShares
« on: December 27, 2015, 10:39:22 pm »
It is very unlikely that Overstock will ever work with Bitshares. They did not like Bitshares and Patrick Byrne did not have kind things to say about the project.

I would be less surprised if Microsoft adopted Bitshares.

General Discussion / Re: [ANN] Metaexchange fee sharing!
« on: December 27, 2015, 10:36:53 pm »
so guys 1 day left till the fundraiser ends.

you can still buy the METAFEES via BTS on the internal market or via with BTC, ETH and NXT.

We will do the next buyback after the chrismas days, but not sure about the exact date yet.

We wish everyone the best

Your metaexchangeteam

monsterer and shentist
Since metaexchange lost some money during the Chrismas days, I assume there would be no buyback until the loss is covered?

How did they lose money?

General Discussion / Re: Organizing BitShares Improvements - BSIPS
« on: December 24, 2015, 05:16:14 am »
How is this different from worker proposals?

General Discussion / Re: global hiring initiative
« on: December 23, 2015, 05:20:18 am »
May I point out the period under the "earn what you want" is no good for many developers, such as those in the U.S.A., assuming you meant "up to  $1000 a day" not "$1 a day".

[member=19939]jakub[/member], he said "nice to have" not "requirements" or "essential Skills".

I do think it would be better to soften the list more, and be more explicit. Perhaps just had an "Important Skills" section and add React, javascript, CSS, HTML under that.

thx. good points.

[member=32866]btswolf[/member] , I can see you've amended the text but still I think further modifications are needed:
(1) Those skills are not "nice to have", they are requirements. Without them a person is useless for us. At this stage we are not in a position to pay someone while s/he is learning new stuff. We need experienced coders who know what they are doing.
(2) We should split the skills into two alternative sets. It's very rare to have a C++ and JavaScript coder in one person. It's enough if a person is good at C++ or React.js.
(3) I'd remove  "big data", "machine learning" and XML. Those skills are not related to the job spec.

I would keep machine learning. Machine learning will be extremely valuable in this space in the near future, and I would keep big data also because again thinking the next year or so it could become extremely valuable. It might not be immediately obvious but sometimes you want to attract people who will have long term value or at least interests in these topics.

General Discussion / Re: Lykke
« on: December 22, 2015, 10:53:22 pm »
More competition!
Please discuss
Especially their way to provide liquidity with a intraday yield on the market place.

It's colored coin so it's not a threat. Very small community, not likely to innovate very much, and how will they profit?

Now the question is, with this video only being in english, what about China? The biggest market?

What about most of Europe? Americans probably aren't the only or best target audience for CCEDK so how do we reach the biggest demographics (like China?).

Other than that it's a good video, we need video ads. We need ads in general.

A 2 minute pitch to last a Life time - The OpenLedger way!

A 2 minute invitation for something great - Enjoy!

Feel free to share
- It is meant for the world to use, the sooner the better!

OpenLedger - Smart Trading Decentralised

"to invest in the company "

You might want to use different language there. Obits aren't investments in the company and if Open Ledger exists as a legally registered business then it could cause confusion.

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