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Messages - jcrubino

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16
When voted into the delegate pay ranks Cryptodex will immediately use 80% of the funds for feeds and feed frameworks and provide 20% to the Moonstone project to finish their wallet framework.

I don't like this mix. Moonstone is a separate project with its own plan for funding. If you only need 80% for funding your own project, then register an 80% delegate.

Also, I'm always very much hesitant to cover the development of a business platform using delegate pay. After all, once your business becomes profitable you'll take the revenue for yourself. Essentially the DAC is taking over your business risk, and it gets very little in return.

https://bitsharestalk.org/index.php/topic,15694.0.html

Well when I first posted this proposal I was under the impression that Bitshares operated as a company "Distributed Autonomous Corporation" and Bytemaster blogging about how he considered Bitshares a startup made that presumption much stronger.  In my mind I was working within that framework to create value on the Bitshares platform.  Since then, a new proposal for privatized assets has come up and Bitsaphire has leaned in to voice its opinion that Bitshares is a community not a company...  I understand why privatized assets is alluring to the Bitshares stake holders as it is the fastest way to increase trade fees based on platform use. 

The main proposal is for indices which requires aggregation from multiple sources, which takes some work and will require constant updates to the feeds to stay current with coin supply parameters and market values, additionally options need to be available for delegates if they do not want to trust just one source for feed information.  From the feedback I have gotten so far it seems like delegates do have a problem in keeping feeds up to date and reliable, so this seems like it is a job in and of itself.

But I am posting these as proposals to get feedback like yours so thank you.

In regards to business plans I am skeptical of any near term profitability unless Bitcoin goes through the roof within the next year.  As it stands now it looks like Bitcoin will be around $100 sometime in August.  I do not see any trends in mass adoption yet of Bitcoin or other cryptocurrencies in the near term either.  I think the proposed wallet would be minimally profitable enough to cover cost and is more like a public service so people do not have to be subject to the extremes of speculation.  Bitshares happens to provide the best blockchain for this to happen.  The wallet is really geared to non speculative users, meanwhile the indices can act as long and short etfs on any third party exchange and I can see those being a high volume traded asset for such companies. Full disclosure I am not involved in any exchanges at this time except for occasional freelance work which is nothing.




17
General Discussion / Re: Privatizing BitAssets
« on: April 18, 2015, 03:50:52 pm »
As for people complaining about Bitshares not behaving like a company, what do you expect? We don't view Bitshares as a DA-Company, but as a DA-Community.

I guess being new to Bitshares I got confused with the DAC metaphor in the publicity material.  "Corporation" is most often used to signify a business that acts as one unit.  Most business's internal market is for talent and operations focused groups that helps the business achieve it goals.  Other than that, privatized assets sounds like a fine plan.

18
Technical Support / Bitshares 0.8.1 CMake error:
« on: April 18, 2015, 03:32:03 am »
CMake Error at libraries/fc/CMakeLists.txt:193 (add_subdirectory):
  The source directory

    /home/ubuntu/bitshares/libraries/fc/vendor/websocketpp

  does not contain a CMakeLists.txt file.



19
Since the Moonstone project would be expercted to return you a 15% profit, would you then be using all that too for for feeds and feed frameworks?

Does your business model intend that you become self supporting/profitable in the long term?

I did not know of any return possibility on Moonstone and had not done any calculations for such via Moonstone.
You will have to send me links on this matter so I can give you a proper answer.
As I understand Moonstone is it a Bitshares wallet and html user framework.

Cryptodex is first and foremost creating feeds for delegates to start running indexes.  Whether that means infoBots from current exchanges, or information from coinmarketcap.com and coingekko, or eventual feeds from distributed information and prediction markets, these can be bundled up for delegates to run as they see fit.  If feeds in general need a maintainer this can be done as well.

Regarding the Business Model:
CryptoDex is also a business activity proposal for the Bitshares platform.  Delegate pay would eventually be used towards customer awareness and education of the Cryptoindices and available tools for users to use the Cryptoindices effectively.

Any Cryptodex initiated wallet (alternative to Moonstone wallet) would be created and focused for savers and passive market participants a market segment that does not get much attention.  I see this as a great way to onboard users who are interested but not yet active in Blockchain currencies and smart platforms.

Cryptoindices are useful to many different users:
     conservative market participants
     active traders
     industry participants hedging risks

Eventually a realtime exchange (or combined force with metaexchange) could be created to offer a mix of hard asset portfolios and Cryptodex portfolios as a one stop shop for index funds and derived financial tools.  A conservative market value of crytpo exchanges is currently at 13.5 million based on current volumes and a 0.02% trade fee.  I would be interested in hearing from others on a fair current valuation of the crypto markets.

By all means point out anything that is not clear to you.






20
Stakeholder Proposals / CryptoDex Delegate Proposal Call for Feedback:
« on: April 18, 2015, 01:00:39 am »
This is a call for feedback not yet a call for votes.

CryptoDex is a delagate and business proposal to make Bitshares the first stop trade platform for trading Blockchain Asset and Tokens Indices

CryptoDex is assembling easy to use feeds to create indices that users can hold long and short positions across marketcap weighted indexes across the entire cryptocoin universe without direct exposure to the management of the underlying assets.  Bitshares provides the ideal mechanism for this to happen.

Professional industry members need tools to hedge their direct exposure to cryptocoin holdings and outside users need to find easy to use vehicles that allow for easy exposure across all available assets.

By voting for cryptodex you enable the realm of blockchain finance to become stronger and Bitshares a premiere role for this to happen.

The proposed symbol for these funds are bitCDX-{IndexSymbol}
    e.g.  bitCDX-MCAP88
    this signifies the Bitshares Cryptodex Marketcap Weighted Top 88 blockchain assets and tokens

Additional index tracking funds include:
     The Strong Privacy Based Index
          DRK, XMR, SDC, BTCD, XDN  etc.
     DApps
          Storj, Florin, Factom, etc

Cryptodex is also looking for a way to provide high value indexes that take high market caps with low liquidity offerings into account as these tend to be the least overhyped assets on the markets that are able to maintain value and considered a solid method for portfolio investors in general as these types of assets have less negative volatility.

The Cryptodex mission is to make blockchain finance safe and sane for users with all types of experience in this new domain.

Overall Goals:
  • Create the safest possible blockchain asset and token indices on the market
  • Help provide users interfaces that anyone can use
  • Create gateways third party assets pegged to the Cryptodex on the Bitshares platform

Cryptodex is committed to providing the safest possible index mechanism available across all viable asset issuance platforms while remaining pegged to the Bitshares platform.

When voted into the delegate pay ranks Cryptodex will immediately use 80% of the funds for feeds and feed frameworks and provide 20% to the Moonstone project to finish their wallet framework.

We understand the role of feeds and delegates is up for re-implementation and are keenly watching these developments to provide the best options for users and delegates and Bitshares as a whole.









21
General Discussion / Re: Privatizing BitAssets
« on: April 16, 2015, 09:34:49 pm »
I do not like this idea, perhaps it will lead to a ripple-like ecosystem, I don’t think that is the right way for Bitshares.
But I think the rules for issuing pegged assets need some change.

When my newbie butt tries to explain BitShares and bitAssets to people, this is always the #1 point where I stumble. "market-pegged", huh?
Maybe that quoted term itself needs to be better defined, by more nodes, or by a different market mechanism completely.

I am not sure if this is too far down a rabbit hole but...
A triple collateralize smart contract that executes like a CFD or "hedging contract" is how I finally understood it as a newb.


If delegates publish a USD feed I doubt a 3rd party would enter to compete.

Could we add 25-50 more "Producer" delegate positions that get voted on to maintain feeds and incentivized for feed product performance?
This would give variety and maintain some focus within the community.

If that does not work then open the gates to all.

22
General Discussion / Re: Privatizing BitAssets
« on: April 16, 2015, 12:28:39 pm »
The peg Assets is 2 products and 2 private companies competing.  Like same toothpaste, but different company Colgate and Pepsodent. :)

Like Bitcoin, litecoin, peercoin, dogecoin, feathercoin, justacoin, weiredcoin, all the NXT clones, etc.

23
General Discussion / Re: Privatizing BitAssets
« on: April 16, 2015, 12:24:29 pm »
There needs to be some minimum number of people providing a feed for any asset. And they should not have any incentives to collude.

Start separating blockchain maintenance duties from product / services duties for one.
Start another set of delegate like roles called "Producers"  that maintain feeds.

Outsourcing marketing and product / services development looks like it will fragment what focused community you have already and dilute overall value of existing assets.  It could be a bump for BTS on the markets and buzz mill but... there will be longer term consequences.

Perhaps, User Pegged Assets can be a DevShares domain.  If it starts to gain sustained traction, open it up to BitShares

Big business would be interesting but... why would they not just fork and build their own platform that they control the feeds, product and marketing for?

24
General Discussion / Re: Privatizing BitAssets
« on: April 16, 2015, 12:14:11 pm »
This would be dramatically more successful if a partner with expertise in the field of marketing (financial products) and price feeds would be found? A Bloomberg (like company)? Fidor bank?

They have customers but are they interested yet?

What is the problem with the current price feeds?

25
General Discussion / Re: Privatizing BitAssets
« on: April 16, 2015, 08:24:23 am »

So I contend that a market full of private market pegged assets with profit motive for a near "winner takes all" on the team that can provide the highest liquidity and best marketed variant will produce better results than relying on socialized funding of the BitAssets produced by delegates. 

Thoughts?

1. "socialized funding" I thought Bitshares was a startup, implying a business
2.  why not elect "Producers" who job it is to create and manage Bitshare blockchain products inline with the market?
3.  My initial thought is privatized assets is a step towards shifting responsibility away from Bitshares and a possible surrender of what should be considered a core business activity.

26
Stakeholder Proposals / Re: Dogecoin Market Pegged Asset
« on: April 16, 2015, 08:01:38 am »
Quote
How can I create a user pegged asset?
Same way as in the BTS chain:
Code: [Select]
wallet_asset_create <symbol> <asset_name> <issuer_name> <description> <maximum_share_supply> <precision> [public_data] [is_market_issued]   Creates a new user issued asset

so public_data is the feed or the price point?
I think I just read that Users Issued Assets are not pegged by a feed in ByteMasters Privatizing thread which is what I am after to get the logistics down for a feed based pegged asset.



27
Stakeholder Proposals / Re: Dogecoin Market Pegged Asset
« on: April 16, 2015, 02:34:07 am »

Why don't we put those coins on the DevShares chain? Would give ppl incentive to use them and help test our platform. Plus you make some money.
I like that idea .. alot .. actually

We could try make DevShares a DEX for altcoins and even more experimental assets like "bitcoin hashrate" proposed in the other thread ..
We could also sharedrop devDOGE into dogecoin holders and see how they react ..
Oh .. wait .. let's sharedrop bitcoin so that every bitcoin hodler can get hand of tokens in the devshare network .. (not sure how to handle txfees though)

How is up to this?

I like it, I did not realize Devshares was the testnet.

How can I create a user pegged asset?

Where can I get Devshares to test with?

Why is devshares not just the testnet option for Bitshares (or is it)?


28
Is there a way to stream this to youtube if it is not being streamed already for community building?

29
Stakeholder Proposals / Re: Dogecoin Market Pegged Asset
« on: April 15, 2015, 04:59:33 am »
The problem with pegging a single cryptocurrency is that it is reasonable that the smaller ones with high likely hood could break the pegging mechanism.

I am however creating an indices for various various collections of the cryptocoin markets.

Marketcap Based
Volatility Based
Theme Based

30
How about add a countries slogan for the asset in the native language, and english or for the US Latin, plus English

USA: In God We Trust
China: Reform and Open Up
UK: God save the Queen and the Public Houses To!

etc..

Could be any slogan

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