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Messages - intelliguy

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46
General Discussion / Re: Bitshares price discussion
« on: April 02, 2017, 10:35:54 pm »
I am not a programmer, so I have no comment there. I also respect that Dan did more for Bitshares than a user/speculator like myself will ever do.

That said there is lots to be done. A project of this size and ambition needs a full time developelment team.

You're misusing the word development.

What Bitshares needs is more business use cases, marketing, and promotion.

People who have been following Bitshares from the Protoshares days, heard lots about development.  Bitshares and the DEX is in stage that it can be used "as is".. and do quite well at it.  That's why there's tradeable tokens, volume, etc.

The only reason we don't have more liquidity in the system is not because of programming development or features... (so please stop saying "development") -- Development in the cryptocurrency industry generally means "dev" to "dev" or "develop" the code base of the software.

Bitshares is already developed, it already runs, it already works.   We're past the early investor stage.

Now Stan has are elluded to the idea that he's working on some major business use cases for Bitshares, and I suspect other people are doing in the same.

...but all of this talk about "We need development", why isn't bytemaster doing more "development"... it's just the wrong word.

For instance, the bitshares system already is self governing.  It already allows you to create worker proposals to do XYZ to get things done. 

We have a decentralized system for a reason -- it's decentralized WHETHER OR NOT Dan/bytemaster is here or not.  It continues to run, and run well. It's working. It's in operation. It's not BETA. It's active!


47
General Discussion / Re: Bitshares price discussion
« on: April 02, 2017, 09:48:09 pm »
Still rolling with that old chestnut eh.. I expect Stan would approve. I'd rather have seen him stick with fully developing BTS, than making like cowboy and doing a fast one. Lost of lump of money that other insiders didn't, from that same gameplaying previously.

Interesting.. you believe that BTS isn't developed?

Have you looked at the code?  It's already built.  Dan's work is done.  He built a product that works...

Why are you suggesting it's not "fully developed" ?

48
General Discussion / Re: Bitshares price discussion
« on: March 29, 2017, 08:07:40 pm »
We were already at/below the 300 satoshi range for a while. Accumulation phase is over, IMO.

The coinmarketcap.com manipulation hasn't ended, and is still ongoing.

I hate to promote a steemit post I wrote here today, but it is directly related to the pricing discussion.

See steemit.com/(AT SIGN)intelliguy

Or manually copy/paste this: https://steemit.com/cryptocurrency/@intelliguy/oh-no-coinmarketcap-com-pumps-scam-coins-by-accident-marketcap-price-x-available-supply

(I am surprised you still can't post steemit links in SMF forum)

...and the post ends with:

QUOTE: "P.S. This is why STEEM and BITSHARES don't trend as high as other coins. Just so you know."


49
General Discussion / Re: Bitshares price discussion
« on: March 29, 2017, 02:38:26 pm »
Coinmarketcap ranks the exchanges (including the DEX) by the volume of bts traded in 24/hours.

Not really.

By default, it lists coins by current trading price vs coins in circulation.

While it's true, you can sort by trading volume, every teen trader that chases altcoins, only looks at the default sorted page.

#33 Bitshares is trading at 0.006079 with 2,592,030,000 in circulation  (2.5 billion coins) = $15,757,365

AND

#35 Siacoin is trading at 0.000605 with 24,551,360,204 in circulation  (24.5 billion coins) = $14,852,640

....so coinmarketcap will soon make Siacoin surpass Bitshares, if Siacoin's prices moves just a little more, or they put more coins in circulation.

(none of this has to do with trading volume in the last 24 hours)




50
General Discussion / Re: Ah so you're not so bullish on bts anymore?
« on: March 29, 2017, 01:59:10 am »
BTS has value, because in order to trade on the dex, you consume BTS for transaction fees.

BTS also acts like it's own currency, most UIA have a BTS->UIA market, so BTS will always have value.  The more people that use the DEX, the more in demand BTS will be...

Is this simplistic answer correct?

51
General Discussion / Re: Bitshares price discussion
« on: March 28, 2017, 11:20:41 pm »
And your goal is most certainly NOT to provide constructive criticism.  That would actually be useful and welcomed.  But your M.O. is to create fear, uncertainty and doubt.   You do that by constructing false narratives based loosely on just enough facts to sound credible to those who are unsuspecting.  I've seen your basement-dwelling type a thousand times over the years.  Get it?

I disagree with you tbone.  Everything is open for discussion. Let's not attack each other's character and just deal with the facts.

As far as landing people in Jail, exchanges could simply modify their terms of service, and state that voting rights are retained with the exchange for all BTS that are currently deposited, and they'd be fine.  (Most users don't read terms of service and will tacitly agree to anything). In addition Graphene and the Bitshares blockchain are currently unregulated as far as I know.

We need to get back to the ideas on how get more traction with Bitshares looking at its usefulness in comparison to centralized exchanges.

A decentralized exchange for the previous point, I mentioned is great. Ask anyone who lost funds with Mt.Gox or Cryptsy,  or any other exchange... they should be the first ones to love the idea.

We were just started making some progress here. I'd hate to lose the spirit of how we can be creative enough to take this all to the next level.




52
General Discussion / Re: Bitshares price discussion
« on: March 28, 2017, 08:03:02 pm »
Polo admins hate bts..

Poloniex, a centralized exchange that rakes in profit for a few, hates a decentralized exchange that could steal the money out of their pockets.
Do they hate it because the DEX is a threat to their business?

If the Bitshares DEX becomes popular, it is definitely a threat to centralized exchanges business.  This is why we need to capitalize on that fact.

If I want to buy Bitshares, and all I have is Bitcoin, must I go to shapeshift.io is that my only option?  As far as I know, shapeshift just runs API's to centralized exchanges to charges a premium for the conversion.

We really need to pay attention to our entry and exit points on the Bitshares platform and build some solutions that aren't dependent on centralized exchanges at all.

If the centralized exchanges wanted, they could destroy BTS in a second.  They control enough BTS to vote in whoever they want.  One of the GIANT flaws in bts that almost everyone around here sweeps under the rug or chooses to ignore...  Just another reason DEX adoption has been tepid.

AGREED.  We need this type of discussion.  @lil_jay890 I find a lot of people argue your points for the reason that if you're not correct, we don't have anything to worry about.   I do think you are correct in everything you've said.   You even did it in easy to understand plain language.

While the discussion is hot, I hope:

  • We brainstorm some solutions to these problems
  • Multiple entrepreneurs see the proposed solutions and opportunities to build something that will help solve them



(I *changed* the original quote from @lil_jay890 and re-wrote it to show cryptocurrency examples)

--------------------------------------------------------------------------
If you have ever seen "Wolf of Wall Street" there is a good, yet vulgar, scene that explains how centralized exchanges make money:

Matthew Mcconaughey: "Fuck the Users.  Your only responsibility is to put meat on the table"
"Name of the Game, move the money from the Users pocket into your pocket"

Leo: "Right, but if you can make the Users money at the same time it's advantageous for everyone, correct?"

Matthew Mcconaughey: "Wrong... If you got a buyer who bought DASH at 86 and now its at 96, he's all fucking happy and wants to CASH IN.  Liquidate and take his money and run home. YOU DON'T LET HIM DO THAT!"
"You know what you do, you get another brilliant idea.  You get him buying ETH to reinvest his earnings and then some."
"Meanwhile he thinks he is getting shit rich, which he is, on an "virtual" exchange wallet.  But you and me, the centralized exchanges, we're taking home cold hard cash via commission."

Leo: "Right, that's incredible sir..."

Matthew Mcconaughey: "Keep the Users on the centralized exchange ferris wheel.  That's the name of the game".

Leo: "What if our centralized exchange gets hacked?"

Matthew Mcconaughey: "Just shut it down, take whatever balances you have, and dump them.  Re-open a new exchange later, or take a few months in the Bahamas and come back under a different name"

If bts token holders want to make money, you need more money entering than leaving.  You need to appeal to the gambling/risk taking side of people.  You need to have them keep investing, 

*AND* They need to understand that their money is a LOT safer in a decentralized exchange, where they always hold the keys and authority to their wallet balance at all times.
--------------------------------------------------------------------------

The bitshares echosystem is a fantastic concept.  It solves MTGox. It solves Cryptsy.  It solves lots of issues.


However, people always run to where the largest noise is... We're not shooting fireworks off, nor is there any band playing.   We have the quietest party on the block.

Yes, coinmarketcap.com will drive attention  (not just banner ads either, but price movement works the best).

But there must be other ways to reach these crowds.  I do like @Geneko's ideas:

Any icoo that is issued on dex mast collect funds thru DEX.
 
The account used must be multisig with milestones attached for gradual releasing funds.

That would provide transparency of project development and provide guaranties funds would be spend as intended.
In case project fail in any way all remained funds would be send back proportionally to initial investors and UIA added prefix abandoned or ex.

Reasoning behind this is that it wouldn't be appropriate to restrict such UIAs.

But it is our duty to take care of designing icoo feature that has community support. We should provide guidance how official icoo should look like. All other UIAs should be considered shitUIAs until prove otherwise and the one should approach it as such.

We could also add some comments in GUI such as official - followed by explanation and free(shit) - followed by explanation, in case someone want to buy. These explanation should be also added in tutorial page.

The industry is so greed focused, no one even knows what a proper UIA and ICO should look like...  Bitshares can give users a safe feeling if we use the features to...

* lower buyer risk

* lower seller risk

* lower UIA risk

Your UIA tokens and BTS always belong to you unless you sign a trade.  That's such a mind blowing feature that most kiddies playing on centralized exchange don't even understand.  We don't have virtual wallet balances here.  That's just awesome.

Case Scenario

You have 5000 bitshares in your wallet, but 200 of them are in an open trade.

How many Bitshares do you actually have?


On Poloniex Wallet    On BTC-e Wallet    On OpenLedger Wallet
0 BTS (virtual wallet)    0 BTS (virtual wallet)    4800 BTS, +200 waiting for trade (real wallet)

53
General Discussion / Re: Bitshares price discussion
« on: March 26, 2017, 09:39:18 pm »

1. A third party creates a UIA in the BTS Ecosystem.... Lets call it SCAM.UIA

So lets review what has happened so far.  The scammer has created a token out of thin air and sold it to you for real currency or bitcoin.  You are hoping that he will take that money and create something wonderfully profitable and then distribute the money back to you via buy back or dividends.

Unfortunately....

12.  What are these uninterested investors who just received BTS for their SCAM.UIA going to do??? That's right! SELL THEIR NEWLY ACQUIRED BTS!

We need to propose some possible solutions to this madness..  Any ideas?

ICO's in general, totally kill crypto, not just on the Bitshares, DEX but everywhere.  "Buy this, and I promise that later" rarely ever works out for the early investor.

When I see an ICO now, I cringe.


54
General Discussion / Re: Bitshares price discussion
« on: March 22, 2017, 02:27:44 am »
I bought BTS at about every price level going assuming it was going to succeed. Next thing I knew its founder turned up in @steem (I'm afraid I'm not familiar enough with the background to make any judgement about that). The whole time, all it did was loose, loose, loose value.

It is succeeding, the product is built. It works.  Now it's simply a matter of attracting more business to start using it.  Stan's is already on that, and any of us can do that too if we like...

55
General Discussion / Re: Bitshares price discussion
« on: March 21, 2017, 11:41:16 pm »
The founder is thought to hold around 3% of the coins supply at most. Triple or quadruple that if you like and he's still outnumbered many times in terms of node voting.

No one really knows how much of the premine he has, spread among multiple wallets.

I suspect the founder, with the premine, is manipulating the market, and taking everyone for a ride by buying/selling to himself.  The pump is just a little too crazy.

People seem to get blinded quite easiliy as long as they are riding a rocket.  However when that rocket runs out of fuel, or the game is over, watch out.

Remember we discussed this March 2017.  I suspect by March 2020 Dash will no longer be in the top 10.

Probably because they'll just undergo a name change again.  How many name changes would that be for Dash? 4?

The only reason we're even talking about Dash, is because someone insisted that we follow Dash's pump.   Well if I can premine a whole bunch of BTS and trade them on the market for myself, I could raise the value of BTS just as high as dash, and mislead coinmarketcap.com.

Once I pump it up nice and fat, and high, I'd wait for the buy orders to accumulate (much like people are doing with Dash right now) and I'd dump the whole thing on them.

Problem is I'm not evil.  Bitshares isn't evil.  Dash's initial founder = definitely evil.  I'd run from anything that guy touched.

Here's a former "DASHaholic" and his words:

https://steemit.com/cryptocurrency/@thedashguy/warning-why-i-don-t-trust-the-price-of-dash-nor-the-community-be-careful-folks-invest-wisely-diversify


56
General Discussion / Re: Bitshares price discussion
« on: March 21, 2017, 02:53:00 am »
I am skeptical since BTS isn't really outperforming many currencies.  Dash and ETH are getting hundreds of millions of dollars pumped into them

Someone had the same sentiments as you did about Peercoin about 6 months ago for instance, they dumped all their holdings at 29 cents.  6 months later the price is now 65 cents today (we had highs of 72 cents).   What a terrible move for that skeptic we had there..

Being skeptical is your right.  However I find a lot of skeptical people try to rally others in a subtle way to validate their skeptisim.

Either you believe in the platform, or you don't.  The daily trading price matters very little unless you think you're at the end of the line.

Bitshares hasn't even be utilized and explored yet to its fullest.  Stan knows Bytemaster very well (as you may know) and he knows where this could possibly go.  Unless Stan dumps his holdings, I'm not dumping any of mine. :)

By the way, you did get something right:

I am skeptical since BTS isn't really outperforming many currencies.  Dash and ETH are getting hundreds of millions of dollars pumped into them

That's all I see. One big pump.  Most of us know what follows a huge pump too...

 It's not even logical for ETH and DASH to have that much of a pump considering how those technologies are being utilized in the real world.  Tell me, how many times have you used Dash and ETH in your daily life recently? It's all  pumped up speculation with very little substance in my opinion.

I am skeptical since BTS isn't really outperforming many currencies. 

When you say "outperforming", do you mean transactions per second? stability of the chain? featureset? design?  future direction?

Or do you simply mean "price".  :o

If it's sheer trading price that makes you choose the best place to invest your money, you're going to get let down a lot in crypto. Just a friendly tip.


57
Received confirmation Sun 1/29/2017 9:29 PM Eastern that the BTS Wallet is back online and functional again at Bittrex.

That was almost 4 days of maintenance on Bittrex.  I thought that was quite abnormal.  If it happens again, maybe this thread can be a historical search for a time when this happened once before.

58
Anyone know what's going on with bittrex and BTS?  Their wallet is in maintenance mode since Wednesday Jan 25th and still down as I type this..

I submitted a support request to them, and 9 hours later it is still unanswered.

Hmm....

59

I also did some research and see that it's referred to a gravitar, and handled by gravitarid.

Still confused on how to change or set my permanent gravitar. :(

60

From what I know, Avatars are randomly assigned in the Bitshares Wallet from 1.0

Does this continue to be the case in Bitshares 2 Lite Client?

Is there any correlation between the Cryptofresh Avatar, and the Bitshares 2 Lite Client Avatar?

Finally, can you change your avatar, or is that a future thing?  Not that it matters much. I just would like to know which ones are the authoritative avatars, because I look different on cryptofresh than in the Bitshares Lite client for example.


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