Quote from: Brekyrself on October 11, 2016, 06:42:27 pm

@lil_jay890 When you look at the top 10-20 on coinmarketcap one could say they all "suck."  Bitcoin has the first mover advantage however BTS and yes Steem are the only ones doing something different with real world use cases.

I did see in the troll box yesterday, OpenLedger mentioned a GUI revamp being done this month.  People do not understand bitcoin and when they load up bitshares, it's simply overwhelming.  I would hope to see the GUI revamp increase new user traction/retention and thus should drive up the price of bts.

If Openledger is updating the GUI in an attempt to drive traffic and retention you should buy OBITS, not BTS.  BTS just doesn't give any real reason to hold the token.  Network traffic and Collateral lock up have increased consistently over the last several months, but the price has stagnated and even declined.

I've been advocating forever that the only way that the BTS token becomes valuable is if the BTS network starts turning a profit.  But the governmental process is weak and there are no plans to make the network profitable.

How would Bitshares need to look if it were to turn a profit? Our main cost are: Dilution due to vesting which should end this November, witnesses which help secure the network, worker proposals which rarely get voted for,  and... what else?

Is it systemic to the network no matter the scale? If so then the project simply can not succeed no matter what. Or is it simply that the network has not scaled to a break even point yet?

Before OL can take off it will need to run more smoothly, be a little more polished and have features like a normal exchange.

Another idea to throw at the community:

I am in the construction industry, specifically roofing, and I can't help but apply the wonderful world of crypto to my daily life.

1) Insurance claims registered on blockchain, payments issued on the blockchain, deductibles recorded on the blockchain. Contractor bids on the blockchain, all escrowed and open to all three parties with contracts digitally signed and on the blockchain! Both homeower and contractor reputations available on the blockchain.
Cuts fraud, addresses third party payer problem in homeowners insurance (very much like health insurance), long term lower premiums, better accountability for contractors and homeowners.
This would not have to be fully open and transparent, you would need account permission to see certain items.

2) it has occurred to me time and time again that really the only difference between me giving a customer a bid and placing a bid on Openledger is that on Openledger despite its liquidity problems there are many hundreds of "askers" and I compete with many hundreds of bidders. With a construction project bid the average homeowner might get four or five bids, but usually does not have time or knowledge to asses them. Enter the blockchain and bitshares?

I am thinking a much more complicated and in depth exchange that helps connect people of literally any profession with those who need that profession. In my industry people often get measurements from insurance or satellite, by posting these measurements, pictures and description of work to be done contractors can use a filter system to find just the right projects they want to bid for. Customers can filter the numbers of bids by certain criteria and then once they have it narrowed down request in person talks. This would help with the reputation issues that contractors have as the reviews would all be online and on the blockchain and contractors could even rate customers too! Having been in this industry for just under two years I see all its flaws as an outsider still and see this platform and crypto as a way out!!

Thought?                 

Any other plans to collaborate with Synereo?

Awesome! Nice to see the project moving so quickly. Keep it up!

Any new insights from this survey?

Quote from: EstefanTT on September 14, 2016, 01:24:07 pm

You forget that smartcoins uses collateral in BTS. The need for stable crypto asset will rise and these markets will grow.
BlockPay will probably help with that.
Each BitUSD is 2$ locked in BTS.
One million BitUSD in circulation means 2 millions $ in BTS bought. How much do you think the bts price would increase with ppl buying for 2 million $ of BTS ?

The plateform is perfect for creating all kind of index, baskets, ... which will also contribute at locking more collateral.

With a good commercialisation, I'm conffident that bittwenty could bring signigicant value to BTS.

The referral system may also take off later when we reach critical mass. That will also bring more fees.

Stealth transfers will also bring more fee to the system.

The other features still to be implemented ( as the bond market ) will also produce lots of fees.

There is also the unknows. Anytime, a new company can implement itself on top of BitShares and develop a new feature using the FBA.

IMO, your view on the BTS potential is too pessimistic.



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Unfortunately there is no real plan to make BTS profitable...

I'm not saying the potential of the BTS platform is bleak.  I'm saying if you are a BTS shareholder, the potential of the token value increasing is bleak.

In my understanding there is a reserve pool where these fees go to. Where they are effectively out of the market. This should directly effect the price for each individual bitshare and IS the mechanisms by which value is transferred back to token holds. That correct? So it is not a dividend, but a kinda temporary burn. How temporary depends on the network participants.

Only with the approval of the predefined threshold of BTS token votes will these tokens be paid out (diluting the market). Yet, in theory, this will only be done when those with the most interest in long term value decided to let the network spend these reserve tokens.

Thus, I do not see your point as to the worthlessness of BTS tokens from a fundamental value perspective.

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Services like itunes, Audible, Amazon Kindle, Amazon Video, Steam and other digital content providers have you "buy" the audio book, movie, game or song, but you must use their network to access it. You usually can't trade it, give it away or even lend it.

What do you think of a blockchain based DAC which allows a more tradition role for digital content ownership? One which we would truly own what we buy, as opposed to long term leasing. Would there be enough demand for it?