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Messages - JonnyB

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91
delegate-clayop  removed my vote for witness and committee

92
Stakeholder Proposals / Re: [Witness Proposal] roelandp
« on: April 19, 2017, 12:37:01 pm »
Great introduction, roelandp and welcome to the BitShares community.
It's a perfect timing to get yourself acquainted with the tech.

Would you be open to help organize a BitShares-dedicated event in Munich sometime?

That would be awesome [member=43607]roelandp[/member] did a fantastic job with steemfest, Munich is the perfect location too.
roelandp witness already has my vote.

93
Stakeholder Proposals / Re: [Witness Proposal] sahkan-bitshares
« on: April 14, 2017, 01:11:18 am »
Nice looking server and nice witness proposal.  :)

94
General Discussion / Re: Marketing Marketing Marketing
« on: April 13, 2017, 09:48:21 pm »
[member=28248]rgcrypto[/member] Why don't you just create worker proposal for some basic ad spending and get the ball rolling. You 'll get my vote.

95
General Discussion / Re: Bitshares price discussion
« on: April 13, 2017, 07:01:44 pm »
It just makes me so mad that that market cap is less than Ardor. Which doesn't even EXIST! It's a token with a promise and ZERO users and no advantage over bitshares, which is well established and doing >$100k in volume over a decentralized exchange.

The only advantage Ardor might have is the secure messaging system. Which BTS could easily do. Echo will cover this right?

You can send secure messages through bitshares, just write your message in the transaction memo and send a micro transaction.

96
General Discussion / Re: Marketing, Marketing, Marketing
« on: April 13, 2017, 04:33:53 pm »
I missed the mumble marketing hangout yesterday but I am also interested in better co-ordinating the marketing for bitshares.
Me [member=31]fav[/member] [member=19864]BunkerChain Labs[/member] and [member=38926]Chris4210[/member] are doing a good job so far with the social media but I can add others to hootsuite so more people can post from the [member=73]bitshares[/member] twitter and fb.com/bitshares accounts.
Hootsuite charges each extra access to the account at $10 a month so it's only worth it if you have lot of good posting ideas.

It might be worth running some facebook ads again.  Last time I did this it was paid for by upvotes on a steem post but this time it might make more sense to as a worker proposal.

I believe the priority for marketing efforts now should be a new website. [member=38926]Chris4210[/member] was working on a new one with etherdesign but the cost to produce it would be $4000 which I'm sure can be funded with a worker proposal.  I don't really know what the delay on this is.

97
I missed the mumble marketing hangout yesterday but I am also interested in better co-ordinating the marketing for bitshares.
Me [member=31]fav[/member] [member=19864]BunkerChain Labs[/member] and [member=38926]Chris4210[/member] are doing a good job so far with the social media but I can add others to hootsuite so more people can post from the [member=73]bitshares[/member] twitter and fb.com/bitshares accounts.
Hootsuite charges each extra access to the account at $10 a month so it's only worth it if you have lot of good posting ideas.

It might be worth running some facebook ads again.  Last time I did this it was paid for by upvotes on a steem post but this time it might make more sense to as a worker proposal.

I believe the priority for marketing efforts now should be a new website. [member=38926]Chris4210[/member] was working on a new one with etherdesign but the cost to produce it would be $4000 which I'm sure can be funded with a worker proposal.  I don't really know what the delay on this is.

98
Bitassets are derivative contracts

Derivatives contracts are assets

99
General Discussion / Re: Adjusting how bitshares fees get distributed.
« on: April 12, 2017, 08:05:20 pm »
How about other options like:

Current fee allocation:               Proposed new fee allocation:
20% -- network                            20% -- network
80% -- referral                              70% -- referral
                                                      10% -- Dividend to ALL users (exchanges - question mark)

If the value of BTS goes up, we should be able to scale back on the witness/worker pay thus boosting the reserve pool.

A business should not pay any dividends until it is profitable. We should first make whatever is necessary to make the chart in http://cryptofresh.com/reserve go upwards

Thank you for that link [member=38641]paliboy[/member], I was hoping such a thing existed.

Despite the huge stockpile of resources the reserve pool has, the graph says it all, that ultimately the path we're on isn't sustainable. We need to make that graph go up (or ideally stay flat, with increases going back to shareholders as dividends).

The question in my mind now is how the hell did the reserve pool get so big in the first place? There is no ramp from 0 going up? Did it start high b/c of some initial injection? Where did that come from and who provided it?

It was just created big in the first place and has been steadily going down ever since.

100
General Discussion / Re: Adjusting how bitshares fees get distributed.
« on: April 11, 2017, 05:26:06 pm »
means existing businesses (OL/Blockpay/etc) lose 30% of income stream and get nothing in return.

sounds like a great idea to drive them away, then we can watch grass grow here, because bitshares will be dead for good

[member=31]fav[/member] you already said in the other thread you would approve referrals being reduced to 60% so I don't know what you're on about?


101
General Discussion / Adjusting how bitshares fees get distributed.
« on: April 11, 2017, 04:58:36 pm »
All this talk of dividends and interest payments seems too complex for shareholders to understand and agree on.

Could we perhaps agree on something more simple.

Current fee allocation:               Proposed new fee allocation:
20% -- network                            50% -- network
80% -- referral                              50% -- referral

102

50% - network
20% - referral
20% - bitAsset interest
10% - LTM dividend


I would support something like this.

It might be easier to get consensus in smaller steps. Maybe just get consensus on 50% for network and 50% referrals first.

103
I thought about this many times. Let me share this recent one.

Block rewards and workers are payed from reserve fund. Obvious solution would be that reserve fund gets ability to pay in MPA assets.
I am not familiar how hard proposed change would be, but for the purpose of this brainstorm lets pretend it is feasible.

It is already discussed many time so I wont repeat, but reserve fund should not be maintainer of collateral positions because it is not able to cope with market forces. But it could borrow MPAs from shareholders and traders which can. It could borrow on market established interest rate (like 5% meme) let the market decide, up to some figure, for instance two year worth of expenses(adjustable by comity).
Interests would be payed from reserve fund in BTS at feed price on hourly bases like vesting balances. The long position could be settled at any time from the reserve fund in BTS at current feed price. Everyone who want to settle MPAs could get current feed price worth of BTS from reserve fund, within 24 hour to prior notice as already defined (settle option). These acquired MPAs could burn the dept, so dept account could also have negative balance. The fact that this market opportunity has limited supply should provide additional incentive for borrowers. The liquidity would be increased slowly at a peace of about 2000 bitUSD/day.

Two years worth of expenses in bitUSD, at current price, is about 1.32 mil. It is impossible to make any predictions, but such a change could easily double the BTS price in short time.  There is inbuilt fluctuating factor in every price, including witness pay and workers price. With bitUSD price denomination for witness and workers pay, I am confident it could at least cancel additional interest expenses.
Also improve liquidity, get market adjust BTS supply, get more incentive for witness and workers, provide more transparent pricing and steady stream of fresh MPAs liquidity.

My feeling is this idea isn't simple enough to understand. A more simple and elegant implementation would be preferred.

104
* The entity/business could run with the BTS or simply not burn it

If there's any type of trusted group/foundation/company involved then this idea is no good.
It would be a step backwards to involve any third party.

Currently the blockchain currently pays the witnesses and workers in BTS, the idea is that the blockchain pay them in BitUSD instead.



 



105
Bump.
This idea is worth revisiting for 2 reasons.

1.) Because of the recent BTS price rise the committee will need to adjust the fees down again. With this idea they would never need to adjust them again.

2.) There is not enough BitUSD to meet demand at feed price. (when BTS price spiked but you couldn't sell it for BitUSD because of huge spread)

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