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Messages - BldSwtTrs

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196
General Discussion / Re: Impressions Inside Bitcoin Conference Berlin
« on: February 16, 2014, 11:05:41 am »
Quote from: Giga on February 15, 2014, 09:32:23 pm
KryptoKit is owned by one of the founders of Ethereum if i'm not mistaken.

Anyway, i'm not worried with the marketing at the moment. I think Bitshares did a good job at Miami, we have a solid website, good branding, nice friendly community and a good funding model. You guys have to keep in mind that people go with the hype. Right now Ethereum is getting a lot of exposure so everyone is jumping that ship.

I strongly believe Bitshares will be the rising Dark Horse of crypto, i used to work in business development and i've seen this happen to many times.

Hype does not equal to guaranteed success! Fundamentals are key and we have a solid foundation being built here.
Also Bitshares will be working (hopefully) whereas Ethereum will not even have started their IPO. This will be a wonderful period for capturing mindshares and the momentum.

197
General Discussion / Re: Bitshares and anonymity
« on: February 14, 2014, 09:36:27 pm »
Quote from: bytemaster on February 14, 2014, 09:02:59 pm
I believe that the markets will produce results independent of any individuals political concept of what is 'good' or 'bad' and that attempts to engineer a proper-balance between privacy and transparency will likely fail, it is like trying to mix oil and water.
I agree.
It is very important to have a fully anonymous currency just in case the US government decide to take advantage of the transparency of the network and thereby lead humanity in an orwellian society. (And the more I think about it the more I think this scenario has a high probability)

Maybe the market will choose the transparent currencies while governments don't mess around. But the day the power decide to become evil then it is essential to have the possibility to switch to a fully anonymous currency. 
Quote
In the case of Zerocoin technology, I have played with it and would like to integrate it in a future product.
This is a wonderful news!

198
General Discussion / Bitshares and anonymity
« on: February 14, 2014, 01:40:01 pm »
First, to what extent Bitshare X will be anonymous? Will it come with a weaker, stronger or same level of anonymity than Bitcoin?

Also, in the first whitepaper bytemaster mentioned an eventual implementation of Zerocoin, but not in the new one.
I understand that this will not come with Bitshare X, but is it still a possibility to implement something like Zerocoin in the following blockchain?

Imho it's a pretty big subject and a feature that is REALLY needed in the future.

199
General Discussion / Re: BitAsset Predictions & Speculation
« on: February 13, 2014, 10:29:20 pm »
Hypothesis 5) BitUSD will not track USD price at all but have their own value

Hypothesis 6) BitUSD will not track USD and are worthless 

 :P

200
General Discussion / Re: Transactions as Proof-of-Stake & The End of Mining
« on: February 12, 2014, 10:17:49 pm »
Quote from: bytemaster on February 12, 2014, 08:18:39 pm
4) Unlike Proof-of-Work where once you own the mining you own every coin that uses that POW... with POS you can never own all the coins that can be created.
On Bitcointalk sometimes instead of ads there are informative messages about Bitcoin. One says Even in the event that an attacker gains more than 50% of the network's computational power, only transactions sent by the attacker could be reversed or double-spent. The network would not be destroyed. Another one: Even if every miner decided to create 1000 bitcoins per block, full nodes would stick to the rules and reject those blocks. I have also heard Andreas Antonoupolos said the 51% attacker would only be able to destroy the next 10 minutes of transaction before being kick out the network

So you are saying all of this is not true?

201
General Discussion / Re: Ethereum: The Ultimate Smart Contract and Decentralized Application Platform
« on: February 04, 2014, 06:11:18 pm »
What prevents to make a fork of Ethereum and reset all the fees to zero?

If that happens the future DACs will use the free alternative instead of Ethereum.

202
General Discussion / Re: Bitshares versus Counterparty?
« on: February 04, 2014, 06:04:34 pm »
And Satoshi show us that funding is not mandatory to make great things!

203
General Discussion / Re: Estimated Price of 1 Bitshare
« on: February 03, 2014, 08:44:49 pm »
Quote from: JakeThePanda on February 03, 2014, 07:21:56 pm
Quote from: Giga on February 03, 2014, 06:35:02 pm
My hope and expectation is for each Bitshare to be worth about $200 on launch

You're going to be disappointed.  Let's think about this.  If they will be worth that much, than the price of PTS would be through the roof right now.  Look at where PTS is trading.  It will be worth less.
Sometimes weird stuff happens.

For example yesterday you could burn 1 BTC to have 1 000 XCP. Today trades happen at 100 XCP @ 1BTC, just because the burn period is over.

I also think that 200$ is too optimistic, but I don't think that PTS price is a good indicator.  Who knows what might happen once people realize that Bitshares supply is fixed.

204
General Discussion / Re: Link to Daniel Larimer's speech at BTC miami
« on: February 03, 2014, 08:33:22 pm »
Quote from: onceuponatime on February 03, 2014, 04:20:32 pm
Quote from: stuartcharles on February 03, 2014, 03:47:58 pm
Is the full video up anywhere yet?

http://letstalkbitcoin.com/   E80 -  Beyond Bitcin Uncut
I love the end, with some deep stuff about IA, time and Kurzweil  :)

205
General Discussion / Re: Bitshares versus Counterparty?
« on: February 03, 2014, 08:29:38 pm »
XCP as a metacoin is rather a competitor to MSC. Market cap of MSC was halved since the announcement of XCP.

I burned some BTC. The project seems cool.

206
General Discussion / Re: BitShares X vs emunie
« on: January 31, 2014, 12:01:13 am »
Thanks for that interesting clarification.

Quote from: bytemaster on January 30, 2014, 07:56:33 pm
Thus as a DAC emunie is losing money just like everyone else except Ripple and BitShares.   
There is NXT also, right?

207
General Discussion / Re: What are the incentives to use bitassets?
« on: January 22, 2014, 09:48:01 am »
Quote from: delulo on January 22, 2014, 09:07:20 am
Quote from: BldSwtTrs on January 22, 2014, 08:57:57 am
And does someone who buy Bitshares have to use BitAssets or can he just owns Bitshares and nothing else?

Sure. But the dividends are lower or don't exist (not sure which of both is right) when you hold bitshares. But you profit from the value increase due to adaption...
I thought dividends were in the form of bitshares destruction. So even if someone just holds bitshares he should gain as much dividends as someone holding BitAssets, no?

208
General Discussion / Re: What are the incentives to use bitassets?
« on: January 22, 2014, 08:57:57 am »
And does someone who buy Bitshares have to use BitAssets or can he just owns Bitshares and nothing else?

209
General Discussion / Re: What are the incentives to use bitassets?
« on: January 21, 2014, 04:36:45 pm »
Quote from: bytemaster on January 18, 2014, 08:58:46 pm
Quote from: BldSwtTrs on January 18, 2014, 08:28:55 pm
The more I think about Bitshare, the more I understand it and the more I am excited about it. But one thing still comes to my mind that I am not sure about it.
Why someone would use bitassets to speculate or hedge against something instead of using what already exist to do so?

5% of interest  seems pretty high to me and even if it's good for bitshares holders it may be a barrier for using bitassets. I mean Bitcoin is adopted because it lower the costs of transfering and storing value. It wouldn't work if it would make the cost of doing these things higher. So I guess my question is what are the cost one paye to buy a future on gold on a centralized market place, more or less than 5%?

Holding BitAssets PAYS you 5% interest.   Shorting BitAssets costs you 5% so the borrowing costs are lower than etrade and the savings yield higher than your bank because there is no middle man.
Is someone who want to borrow BitAssets has to buy BitShares also?

210
General Discussion / Re: What are the incentives to use bitassets?
« on: January 20, 2014, 01:29:42 am »
Quote from: bytemaster on January 20, 2014, 12:17:23 am
Quote from: Markus on January 19, 2014, 10:25:54 pm
Quote from: bytemaster on January 19, 2014, 02:45:13 pm
The market will introduce a new chain and version 2 of bitshares will use a prediction market to set the rate. 

If a successor chain like this is introduced, will the genesis block recognise the version 1 holders to 100 % at launch date or will you (have to) stick to your published social contract and acknowledge PTS/AGS with 10 %, leaving max 80 % for version 1 holders?

Any chain that inherits a chain that honored AGS and PTS is still valid as this is the means by which chains 'upgrade'.   However, upgrading the chain requires funding and thus will consume *new* capital to build and therefore it should be allocated proportional to those who funded it and thus AGS and PTS should be honored 50/50 in the new chain.  Of course, to get people to move over to the upgraded chain it might be wise marketing to do 33/33/33.   

In other words, I don't have an answer for you just yet other than that all of the above strategies would be legitimate.
Btw, technically PTS doesn't fund the infrascture only AGS does.

So is it possible that someone following this reasoning would honor only AGS and not PTS?

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