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Messages - mike623317

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106
Going with the BTC sidechain will show the crypto community that we are here to help bitcoin by providing them with useful services.
+5%

107
General Discussion / Re: PCR article
« on: March 08, 2016, 09:46:46 pm »
.. Bump

How highly available do people think bitshares is Outside of the US?
Obviously CNX is there. Bunker labs in in Canada, right?

I find it interesting that one of the former treasury secretaries thinks holding physical precious metals would be stopped, so can we really provide a robust and realistic alternative? You would think every prepper, saver, Greek, Cypriot and Argentinian would see the value in it.

108
General Discussion / PCR article
« on: March 08, 2016, 03:35:19 pm »
http://www.paulcraigroberts.org/2016/03/08/the-financial-system-is-a-larger-threat-than-terrorism-paul-craig-roberts/

Paul Craig Roberts was the Assistant Secretary of the Treasury for Economic Policy under Reagan

Central banks, neoliberal economists, and the presstitute financial media advocate negative interest rates in order to force people to spend instead of save. The notion is that the economy’s poor economic performance is not due to the failure of economic policy but to people hoarding their money. The Federal Reserve and its coterie of economists and presstitutes maintain the fiction of too much savings despite the publication of the Federal Reserve’s own report that 52% of Americans cannot raise $400 without selling personal possessions or borrowing the money. http://www.federalreserve.gov/econresdata/2013-report-economic-well-being-us-households-201407.pdf

Negative interest rates, which have been introduced in some countries such as Switzerland and threatened in other countries, have caused people to avoid the tax on bank deposits by withdrawing their savings from banks in large denomination bills. In Switzerland, for example, demand for the 1,000 franc bill (about $1,000) has increased sharply. These large denomination bills now account for 60% of the Swiss currency in circulation.

The response of depositors to negative interest rates has resulted in neoliberal economists, such as Larry Summers, calling for the elimination of large denomination bank notes in order to make it difficult for people to keep their cash balances outside of banks.

Other neoliberal economists, such as Kenneth Rogoff want to eliminate cash altogether and have only electronic money. Electronic money cannot be removed from bank deposits except by spending it. With electronic money as the only money, financial institutions can use negative interest rates in order to steal the savings of their depositors.

People would attempt to resort to gold, silver, and forms of private money, but other methods of payment and saving would be banned, and government would conduct sting operations in order to suppress evasions of electronic money with stiff penalties.

What this picture shows is that government, economists, and presstitutes are allied against citizens achieving any financial independence from personal saving. Policymakers have a crackpot economic policy and those with control over your life value their scheme more than they value your welfare.

This is the fate of people in the so-called democracies.

>> I cant help but feel we need to push the message that BitShares is an alternative way to save in Gold and Silver. Not Just trading, but SAVING in a BitShares Bank. Thoughts??

109
General Discussion / Re: Potential BitShares Road Map for 2016
« on: March 08, 2016, 03:08:37 pm »
I'm not sure how much even a large marketing campaign will help.  I know what bitshares offers yet I'm not using the exchange.  The perception is it's just an exchange w/ newly added bells/whistles.  ETH and MAID aren't being propelled due to marketing.  Instead, they have a compelling story, a fresh identity that's starting to become reality.

For the long-term viability of bitshares, I think we should start creating relationships outside our world.  Sidechains would be the place to start because a collaborative effort is needed anyways to get it to where it's a game-changer for bitshares.  We can initiate an open dialogue with Blockstream.  Why not us post on their forum?  The visibility would be more far-reaching than a take-a-look-at-us approach..

Working relationships would create and open new opportunities for future ideas.  Result:   automatic buzz, a sense that bitshares is working for everybody, great PR.  I can see CNX getting long-term work from it.

This thread just started by JonnyBitcoin is a good start.
https://bitsharestalk.org/index.php/topic,21814.0.html

This makes a lot of sense to me.

BM/Stan - What is the CNX's take on this approach?

110
General Discussion / Re: Community currencies on ethereum
« on: March 07, 2016, 09:25:33 pm »
why not just have Ethereum users go to Openledger to pick up OPEN.ETH,

then share it on twitter, facebook, reddit, slack or any o their own forums onces enabled,

bottom line is that with the present asset OPEN.ETH,

all ethereum users can share their wealth within 3 seconds, thats all it takes to tweet a url with a link to pick up ET on OpenLedger.

ofcourse only possible with www.sharebits.io

Do you have a video on how to do that Ronnie?
If so, I would like to share that in their community

Thanks
Michael

111
Is plasma still in development and any update/timeframe?

112
Please spend he whole hangout discussing  Sidechains.

-  Different ways they could be implemented
-  Ball park figures on how much each implementation would cost
-  How long to implement?
-  Could they be suitable to be funded as a fee backed asset
-  What are the risks of multi sig colluders?
-  Does Bytemaster think this should be at the top of  our to do list?
-  Would BTC sidechain eliminate the need for most UIABTC and even BITBTC?
-  Would this increase liquidity dramatically by having a unified BTC asset?
- What about Ethereum or other coins being implemented in a similar fashion?

Also theres now a $54k bounty to make ethereum a dogecoin side chain:  https://www.reddit.com/r/dogecoin/comments/48riqo/_/

113

With all of these pending bail-ins and negative interest rates, a decentralized bank is huge. If we just had a BitShares Bank with a sexy front end and some nice on-off ramps i'm sure that in itself would be absolutely huge.

http://techcitynews.com/2016/02/09/62-of-people-would-switch-their-bank-account-to-a-fintech-provider/

62% of people ‘would switch their bank account to a FinTech provider’

114

With all of these pending bail-ins and negative interest rates, a decentralized bank is huge. If we just had a BitShares Bank with a sexy front end and some nice on-off ramps i'm sure that in itself would be absolutely huge.


115
I think a key difference is that they and the market are clear on what industry they will dominate in 'The New (Decentralized) World.'

Ethereum     - Decentralized Apps
MaidSafe     - Decentralized Data
Bitcoin          - Decentralized Gold   
Augur           - Decentralized PM (Gambling)     
BitShares    - Decentralized Bank & Exchange





This type of graphic is found on almost every Alt-coin forum... except subtract bitshares and insert other alt-coin.  I was just perusing the nxt forum and saw a very similar graphic.  It just shows that most people know what the top coins will be, but have some false hope that their alt fits in with them.

The Graphic itself is superfluous other than to highlight, that like the New World & The Internet in the early nineties, the decentralised landscape is yet unsettled but has the potential to create large fortunes in and disintermediate multiple existing industries

BitShares has often lacked clarity internally and externally on 'What is BitShares?' However as an investor/speculator I can confidently invest in REP, BTC, ETH & MAID because I and they have clarity which industry they are going to have a monopoly in & are 100% focused on dominating.

Ethereum is currently 60x bigger than BTS, by our own admission nearly every new DAPP will probably be released on there first. While we may like to think Ethereum is Android and we are iPhone, why is Bitcoin still the dominant crypto-currency for 7 years despite it being on an 'Android' blockchain when there are better 'iPhone' blockchains? While there may be multiple DAPPs and third party business frontends on BTS, I don't think at this stage it's credible that BTS is going to dominate the DAPP market or at the very least it won't have a monopoly. So investors/speculators have to ask the question, who will be the big winner in this race, Ethereum or BTS?

However if investors, speculators can say, 'What is the Banking and Exchange Industry worth? Is there a market need for a Decentralized Bank? Who is best suited to, is focusing on & will likely dominate that area?  Then suddenly you're in the mix of DACs that are going to be independently massively successful.

Most agree the potential for SmartCoins is massive, there has never been a greater time in history for them with our current financial and debt based system on the verge of collapse/major transition and we are best placed to dominate it. In fact with a yield subsidy (Self funding and fairly circular cost) and a small liquidity subsidy suddenly we'd become the market leader and clear favourite to dominate that industry virtually overnight.

I like that BTS has the potential for a a lot of third party apps to be built on top of it, some which could disintermediate existing industries in their own right. (Like Augur will disintermediate sports betting but is built on Ethereum.) However it's looking increasingly like ETH is becoming the DAPP market leader & we should at the core focus on delivering the best banking blockchain which our third party Apps and even Ethereum based Apps can inter-connect with.  It's likely imo that the best Banking/SmartCoin Blockchain will become the biggest of them of all. 

As you yourself said....

I'm just lost at what bitshares is and what we're focused on.  I cant explain it to anyone much less get them to buy something so complex.  I thought we were going to find a niche (like the decentralized exchange) and leverage and exploit that niche.... That is what successful businesses do. They don't go running after every new idea they have without completing their previous one.

^^  +5%

116
A lot of people develop and prove the concept on an Android phone first because of its open architecture.

They then have the choice of porting it to an iPhone or leaving that market for a competitor to arise.

So all the great proven smart contract applications will arrive on BitShares one way or another soon after they become great and proven.

Meantime, Ethereum will have a monopoly on all the prototypes that haven't yet become great and proven.

:)

I hope so, but the reality is we've fallen from 40m to 10m and ethereum are up at 500m. I can't shake off the feeling we're flapping in the wind a bit right now. we need some momentum behind us.

Is there any news on plasma?

117
I think a key difference is that they and the market are clear on what industry they will dominate in 'The New (Decentralized) World.'

Ethereum     - Decentralized Apps
MaidSafe     - Decentralized Data
Bitcoin          - Decentralized Gold   
Augur           - Decentralized PM (Gambling)     
BitShares    - Decentralized Bank & Exchange


Now i love the idea of a USER FRIENDLY start of the art BANK. The world is screaming out for a decentralized bank - even more so once these bail-ins happen.

I know someone in our team that uses bitwage.com.

118
General Discussion / Re: ethereum announces the launch of homestead
« on: March 01, 2016, 07:27:03 pm »

When they have leapfrogged us and now have $500m market cap we should see if we can learn anything from they way they present their solution. Not saying they have s better solution, but j think they execute and sell pretty well.

119
General Discussion / Re: Testing Stealth UI
« on: March 01, 2016, 05:52:18 pm »
I believe this is very unintuitive so far.

AGREE.

This is very powerful, but also potentially very dangerous feature.
If we do not want to loose users because of their mistakes... and our bad design, we should improve User Experience of this feature first!


This is absolutely critical to take onboard in my opinion. Non technical people like myself can see the genius in bitshares but we need to make it more user friendly.

120
General Discussion / Re: Testing Stealth UI
« on: March 01, 2016, 05:46:27 pm »
As a user I would expect a single option when doing a transaction. Stealth On(expensive)/Off(cheap).
Everything else will be not finished in my little world.
But I`m not the sponsor.
(just thinking out loud)

I was also thinking something similar. Maybe oversimplistic but either way, that's how it needs to be for everyone to use

1. Option to create a stealth account
2. Option to enable/disable stealth transfers

^^^ THIS ^^^

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