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Messages - bitstopia2049

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46
General Discussion / Re: why not borrowing?
« on: June 28, 2019, 02:33:09 pm »
fuck alt

Wow..!   Such deep insight....Can you create (or curate) more scintillating content...  Please..I will take precious time out of my day..just to check this Board every hour...

Hmmm... I guess it's clear now that China is winning the "trade war" with the US ...

47
General Discussion / Re: why not borrowing?
« on: June 27, 2019, 03:00:33 am »
now it's also a good time to borrow bitEUR.

Isn't this BTC bull run another marketing window of opportunity to raise the profile of BTS?

It seems like now would be a good time for whales and a thousand dolphins to be top producers of BitShares stablecoins

As this bull market  run continues where are the traders going to store their profits...?    On June 9 BTC ~   $7600

USDT given its history and lack of transparency is still very risky....the crypto equivalent of the Federal Reserve...i.e "printing money out of thin air"

Others such as USDC are centrally controlled...KYC/AML..have capabitlity to freeze user accounts at anytime;  .ERC20 based tokens GUSD, TrueUSD  -- same issues plus network capacity issues in volatile environment.
(.i.e slow transaction speeds)

bitUSD, bitCNY, bitEuro, bitGold bitXXX -  should be marketed as very attractive and practical stores of value...(decentralized, transparent, fast, trustless, settlement mechanism, etc) especially if BTS price rises simultaneously..

Right now there is a very strong inverse relationship between BTC and Altcoins (all managed by bots I'll assume)
Obviously BTS needs to distinguish itself and hopefully be able to move in tandem with the BTC bullrun...

so to do that... it concurrently needs an increase in its utility value...e.g. those stablecoins being accepted by any major consumer goods retailer or services vendor or payment processor in the US-Europe-Asia regions

{any follow up news re: Wirex;  Huobi ---   https://cointelegraph.com/news/united-states-crypto-platform-huobicom-launches-fiat-crypto-trading }

OR

 A major manufacturer like Samsung that wants to increase sales of their Galaxy S10  to capitalize on the additonal attention cryptocurrencies will garner from major news media and average consumers as BTC price rises...
A separate Samsung backed subsidiary could be the first corporate  market maker  in bitKRW or any other smartcoin
https://bitsharestalk.org/index.php?topic=27733.msg328527#msg328527
 
and bring consumer attention to their "blockchain enabled mobile device"
https://www.newsbtc.com/2019/02/21/underestimate-samsung-galaxy-s10-crypto-millions-exposed-bitcoin/

How else will Samsung compete against LIBRA  coin (initially backed by Facebook,,MasterCard, Visa, PayPal, Uber, eBay, Vodafone and Mercy Corp with potentially more to come..)
or maybe a future similar Google or Amazon created consortium?

I wonder what kind of comparative analysis Samsung has done considering all the cost, technical,legal and administrative tasks needed to develop, manage,& update their own blockchain and cryptocurrency...versus using the gift that is BTS?
(I inquired months ago..but I guess the Foundation has been too busy to reach out via email to Samsung....{where's a DeCEO when you need one}

The increase in utility value will also help RETAIN any increase in the BTS price so speculators can't short it to hell like they normally do.
....and the decentralized nature of  smart asset creation will also be seen as an antidote to the potential threat from LIBRA type coins...

This time if BTC revisits its ATH, I don't think it will be going back too far below that price ever again...(at least not for an extended period)...Institutional investors are also subject to greed, FOMO ,etc.
(not to mention that QE, ZIRP and other policies have made fiat very "unhealthy")
 
The next BTC halvening is approximately May 2020...Libra is expected to debut in the first half of 2020 (although it does face regulatory and politcal hurdles...on the other hand enough politicians are easily bought to overcome this..)


It's impossible to predict the future,but...

      "Black swan logic makes what you don’t know far more relevant than what you do know"

If fortune smiles.. and the above kind of events happen simultaneously..

Well could a positive Black Swan be on the horizon?   BTS >>> $1.00   CNY 7   (market cap  ~US$ 2.7 billion)


Even today BTS is only   0.0821%   of BTC market cap   { ~ US$ 243.5 Billion }     (ETH 37,  LTC 8.4,  EOS 6.7, USDT 3.6   and BTS  0.2 Bilion 

... and ironically what crypto at the moment is  ~  >US$ 2.6 Billion     CARDANO....(Charles Hoskinson, its CEO is another Dan Larimer former running mate !  ---  If Bytemaster was CEO of BTS what would the price be? )

Why is BTS not at least 1 - 2% of BTC market cap and ahead of CARDANO ?  ( I am not familiar wiith pros & cons of Cardano relative to BTS..so I'm just asking )


               A Wise Man Knows He Doesn’t Know Anything

Taleb promotes a focus on “anti-knowledge”, such as a focus on what we don’t know.

He says we should not try to predict them but adjust to them. And when we adjust to them, we can position ourselves not only to limit the downsides, but also to take advantage of possibly positive black swans, what he calls “serendipitous black

swans”.
               We need to adjust to black swan existence instead of naively trying to predict them




Maybe the first "adjustment" is ... a greater production of bitUSD...bitCNY...bitEuro...bitKRW...bitGold...?    ( & maybe a shot of epinephrine for the Foundation  :-)

48
General Discussion / Re: bitusd peg
« on: June 22, 2019, 03:25:04 pm »
I don't think the peg is a big problem.

but I am confused that why now very few users are interested in bitUSD.

because of the black swan bitUSD lost most trust?

BTS supporters know that Bitshares is "better than" BTC -  faster, cheaper, scalable, etc., etc.
but how to convince an ordinary (non-crypto) person or family member who trusts your opinion to invest or spend $1000
e.g

Investment vehicles...

Bank savings account or time deposit -     since November 24 2018      ~  0.4% APR         $2.33  profit           ROI     0.233%      perception : no risk of loss of principal

BTC  -  price was 3854  and on June 22nd   1:43pm UTC    price is   ~ $11085              $1876  profit                ROI  187.6%     (high volatility)

BTS (bit USD settlement price)  was     ~ $US   0.0511   -    (190622)    ~ 0.067            $311   profit          ROI  31%         (med volatility)

Gold               US$ 1221 per ounce..        ~    1399.31                      $146  profit                ROI   14.6%     (low volatility)   


Utility value  versus fiat : 

 BTC - allows for purchases of some goods and services;  remittances to family, friends, business associates, who understand crypto
CANNOT use to pay taxes, university tuition fees,  political campaign contributions, donate to charities... yet..

Gold -Relatively stable investment, retirement savings, high liquidity, transferable asset to heirs, hedge against fiat, etc

BTS -  not as volatile as BTC at the moment, has lots of potential, needs postive black swan to catch up to XRP, ETH, LTC, EOS, XMR, BCH, DOGE, ZEC

and the new kid on the Block (Chain)    LIBRA    (FACEBOOK) !

49
Match day...

Casinos can't turn away from all of the betting money so they do the next best thing and each sportsbook limits their exposure....High rollers are limited to a maximum $1 million bet..

The Odds are  set at Pick "Em (50-50) which is normally easy money for the bookeis...but to compensate they also have offered the public 'Live (in game) wagers as well as other betting markets (total goals scored, half-time score, penalties given, etc.) so anything that happens in the game that significantly shifts the betting money can mean less profits or even losses for some sportsbooks..
Many gamblers were trying to win back some of the money they lost betting on the favorites....USA, France, Germany, etc.. who were so heavily favored in the first knock-out match the money lines were set as high as -40000 (i.e you have to bet $40k to win $100 ! )

The game gets under way ..
Momentum shifts back and forth...no team can establish control..
many opportunities missed by both teams....
surprisingly goalkeepers are however making miraculous saves...
both coaches are close to their breaking point....blood pressures are rising..

They know that each team has been riding lady luck against incredible odds...How else to explain how not just one but both teams won their three knock-out stage matches to reach the Finals..!    As the saying goes, "Sometimes it's better to be lucky than good.."

So....The game is 0-0  after  90 mins and Extra Time...

And now the gambler's nightmare... the game goes to PK's...(penalty kicks)

This would normally favor the Jamaican team because they have a very good goalie...and on top of that the Thai keeper is their 2nd string goalie..(since their starter was still suffering from shell shock after the game against the US)

But.... the Jamaican goalie (Sydney Schneider) accidentally ate some of her teammates CBD infused cookies at half-time..(which is legally ok and not supposed to get you high)  but apparently this batch of cookies must have slipped through Quality Control and contained more than the allowed trace amount of  0.3% THC, and her particular body chemistry reacted like fireworks.
New CBD users are supposed  to "start low and go slow" so your body doesn't overreact...but Sydney ate the whole box !!
https://en.wikipedia.org/wiki/Sydney_Schneider#/media/File:Sydney_Schneider.jpg

{Teammate later found out that her room mate had switched to a different brand..a brand that used full-spectrum hemp extracts (80+ cannabinoids) in all of its food, beverages, and snack  products
...because of something known as the “entourage effect,”}

Anyway by the time of the PK shootout...she felt like an octopus and was feeling supremely confident that she would block any & every shot that was heading her way..

Luckily for Syd she  guessed correctly in diving to her left on the first shot and her only save .. two of the next Thai players went wide left and wide right....another shot hit the crossbar...and one goal was scored ..
but she couldn't really remember what the overall score was at the time...

Jamaican PK sequence was no less adventurous.  Thai goalie also saved the first short...which made the 2nd kicker nervous and she missed her shot. wide left..
The 3rd kicker (Captain) finally scores a goal but then ...the 4th pk bounces off the right post...and so by the time the 5th player reached the penalty spot she was such a jumble of nerves..her legs were shaking...and so  she just decided to kick the ball as hard as she could towards the goal...but that resulted in the ball flying way over the top of the crossbar into the stands..

so the PK first round.. ended 1-1...

Sudden Death PK's

Surprisingly the sixth Jamaican player was cool as ice and simply took 3 steps back behind the ball...and when the ref blew the whistle calmly jogged to the ball an placed it in the upper right corner.of the goal..

and then on the Thai 6th shot... Sydney didn't... or couldn't... move her feet when the ball was kicked....she felt like she was wearing heavyweight diving boots similar to what Navy divers wear and the ball was aimed right at her.. she could see it coming like in slow motion...but she was helpless to move...and then before she could finish blinking her eyes or put up her hands..
it struck her right in the middle of her forehead...knocked her back into the net while the ball bounced off her and high into the air like a volley ball return.!
..
..While laying flat on her back inside the goal...she could hear her teammates screaming and yelling her name. running towards her getting closer and closer.. as well as the roar of the crowd ...the noise was deafening..

"I guess we won ", she thought to herself.. the "Reggae Girlz" had won..!

Yes.. we won.!!  we won !!  Syd, Syd, Syd ..we did it...Oh My God..!....Oh Shit, shit shit.. this is unbelievable ..Ahhhhhhhh!     it was the voice of her teammate.whose cookies she had eaten...

She just lay there as the pile of players grew and grew...for some reason should could barely feel their weight...all she could see was the clear blue sky above.... and just wanted more cookies...!

Meanwhile the Thai team were disappointed of course at their loss ...They came very close to winning....BUT they knew that just getting to the Finals was a feat they could never have imagined... and it would probably never happen again... The Bonus money obviously made them very happy!...Not only had they had made history..but done so in such an inconceivable fashion that surely a movie would be made about their fantastic journey...generating even more fame for them back home..


.[Some months later..]
There were rumors spreading on social media, but nothing could be proven...Curiously somehow the coach had his  house mortgage paid off and acquired a nice plot of land in the countryside...Everyone knew the coach to be a smart man and very realistic...but could it be true he had bets placed on the Jamaican team...?   No one will ever know...

The BLACK SWANS had arrived in force and........apparently taken care of everyone..

50
interesting discussion, although I don't think the "parking the bus" method will help Thailand girls to defeat US team. :)

Well ..the idea is not to defeat the US....as the coach has already come to the conclusion the chance of that is ABSOLUTELY ZERO...

As referenced in the other thread.. the tactic would be to  "limit the downside."

if Thailand loses the game by 3-0  they still have chance to continue in the competition to the next round
because they can advance as one of the 4 teams who end up in third place in their Group...{the top 2 in each group automatically go forward)

If there is a tie in the number of points between 2 teams at the end of the group stage ...the tiebreaker...i.e the deciding factor is Goal Differential....i.e goals scored - goals allowed...
If the Thai team limits the US to 3 goals instead of 13 goals..this keeps their differential at  -3 going into their 2nd group game  ( there are only a total of 3 group games )

so the Coach's goal is to live to fight another day...

https://bitsharestalk.org/index.php?topic=28491.msg331407#msg331407
"A Wise Man Knows He Doesn’t Know Anything

Taleb promotes a focus on “anti-knowledge”, such as a focus on what we don’t know.

He says we should not try to predict them but adjust to them. And when we adjust to them, we can position ourselves not only to limit the downsides, but also to take advantage of possibly positive black swans, what he calls “serendipitous black swans”.

         

51
General Discussion / To illustrate the absurdity of Black Swan Events
« on: June 15, 2019, 10:52:24 pm »
Read this thread first if you haven't already,  to understand the context..."In Search of the positive black swan"...

https://bitsharestalk.org/index.php?topic=28491.msg331407#msg331407   

      "Adjusting" to the Black Swan event.... { A bit of humorous fiction}

The women's soccer World Cup in France....On Tuesday (June 11)  Thailand lost their first group match to the US...13 - 0

I would call this a Black Swan event....positive for the US...negative for Thailand..

Initially I felt sorry for the Thai team.

but I thought to myself if I was the Thai coach  at half time ..with score being 3 - 0 and knowing that:

 (a)  the US would probably score at least the same or more goals in the second half &  the odds of winning (or a draw)  against the US was ABSOLUTELY ZERO !

(b)  that 16 (of 24 total) teams would advance to the next round, including the 4 best third place teams in their group  (Bonus money !!)
         and Thailand was at least ranked ahead of 6 other teams coming into the tournament
 
(c) Goal differential was the first tie breaker

[SCENE:  Team locker room...Everyone sitting down in a semi-circle..drinking water and eating bananas..]

Coach says, 

"Listen guys...Umm..sorry....girls.....I'll be blunt...We gonna' get our ass kicked today worse than the Brazilians did against Germany (7-1) ..if we don't do something different..

I can't lose a bucket load of bonus money.. I can't afford that...I gotta' house mortgage..

So... here's the deal...in the 2nd half...I want everybody to stand in front of our goal for 45 minutes ...If the referee complains..Dont worry..the rules don't say it's illegal...I looked it up...

We'll call it the Thai version of "parking the bus"... (Thank you Sweden)..
 
OK...you can all close your mouths now and wipe that shocked look off your face.... and thank me later in a couple of weeks when you are counting your bonus money..!.

OK...let's go... I'll take you all out to dinner as soon as the match is over.......I don't think the US team is going to be in any mood to shake hands or do any of  the usual end-of-match hugs and shit..

ไปกันเถอะ

Pị kạn t̄hexa     !!!!     ("LET'S GO"   in Thai)


                     Chapter 2... THE SUPER MEGA BLACK SWAN EVENT


2019     World Cup Final:       THAILAND vs  JAMAICA 

Las Vegas casinos and bookies REFUSE to make odds on the game and reject US$1 Billion in bets..!

stay tuned..

52

It really does look good..!!  It's the kind of landing spot that newbies can begin to learn about BTS and
non-crypto users will not be intimidated by complexity or jargon.. Good Job!


I also like the audio streaming link..for Bitshares Radio Live..

Could it be used as a way to show how Users or Music DJ's could earn referral rewards

show them how to make money in their sleep...by a referral link to their followers... to e.g. a 15-30 minute playlist...streamed on news.bitshares.org when it is not live streaming a BTS hangout or other news.?

An opportunity to market to a wider audience with diverse music listening tastes..  Some DJ's have HUGE followings

as long as they (a)  sign up for a bitshares wallet...(and understand they are responsible for their $ in a decentralized system)
                            (b)  and are educated as to where and how they can buy BTS  (Wirex?)
                              (c)  where they can spend bitUSD, bitCNY, bitEUR, bit XXX  (maybe a youtube video)




53
General Discussion / Re: why not borrowing?
« on: June 15, 2019, 10:15:10 pm »
The key point is how to use it after borrowing out?

Buy bts or other token?

Lend it?how?

https://medium.com/@anunimo/worlds-first-live-streamed-mouse-racing-micerace-com-accepting-only-crypto-bitcoins-as-bets-aa1efc5988ba

Why not ...?

A use case for smartcoins...and maybe a BTS positive black swan...

 
It's on 24/7, global, needs user friendly stable coins for bets instead of satoshis,.

& BTS blockchain obviously has faster confirmation times compared to BTC, (bettors can reload their accounts faster with cheaper network fees)

If CryptoKitties became so popular that its ERC-20 token could bring the ETH network to a crawl..

If Dogecoin phenomenon can produce a higher market cap value for its token holders than BTS

It might seem like a wild longshot...but is the crypto market any more rational?

It's quite fun actually...I tried it...LOL!

I'm sure the BTS marketing worker can reach out to the operators and get hooked up within a day..

again... Why not?  people bet on horses, dogs, every sports game imaginable...

54
General Discussion / Re: why not borrowing?
« on: June 12, 2019, 09:24:42 pm »

Since you don't care about major TA signals what event is bitshares going to produce in next 30 days which in your opinion will impact the price more than major trends ?
I'm asking cause i do also belive that some events are stronger than market trends.

IN SEARCH OF THE POSITIVE BLACK SWAN

"Black swan logic makes what you don’t know far more relevant than what you do know"

In re-reading some of Nicholas Taleb writings...

Fooled By Randomness Summary   
https://fourminutebooks.com/fooled-by-randomness-summary/

1-Sentence-Summary: Fooled By Randomness explains how luck, uncertainty, probability, human error, risk, and decision-making work together to influence our actions,
set against the backdrop of business and specifically, investing, to uncover how much bigger the role of chance in our lives is, than we usually make it out to be.

http://amzn.to/2BMueBS

Lesson 1: Life isn’t fair, which makes the rewards of continued effort excessively big.


I think BTS has to get on the "right" path and reach a "tipping point" ..

======

Below is an excerpt from the intro to one reviewer's opinion regarding the Black Swan...

the complete text is here..
https://thepowermoves.com/the-black-swan/


{Quoting the reviewer}

   " In this (personal) essay, I stick my neck out and make a claim, against many of our habits of thought, that our world is dominated by the extreme, the unknown, and the very improbable (improbable according our current knowledge)–and all the while we spend our time engaged in small talk, focusing on the known, and the repeated.

    This implies the need to use the extreme event as a starting point and not treat it as an exception to be pushed under the rug.  I also make the bolder (and more annoying) claim that in spite of our progress and the growth in knowledge, or perhaps because of such progress and growth, the future will be increasingly less predictable, while both human nature and social “science” seem to conspire to hide the idea from us."



                  What’s a Black Swan

A black swan is a highly improbable event that catches most everyone by surprise and can potentially disrupt human activities or create havoc.

Conversely, a highly expected event not happening is also a black swan.

Nassim Nicholas Taleb says that a small number of black swans explain almost everything in our world, from religions to historical events to our own personal lives.

As the world became more complicated and interconnected, the potential effects of predictable events decreases while the potential effects of black swans has further increased.

 A BLACK SWAN IS A LOW PROBABILITY, LARGE IMPACT EVENT


               You Cannot Measure Black Swans

Black swans, by their own nature of being so unlikely and lying outside most people’s grasp, are extremely difficult to measure and compute.

The unmeasurability of black swan and the human tendency of discounting their very possibility, is a central tenet in the book.

Nassim Nicholas Taleb has had first hand experience in a field highly susceptible to black swans and yet theoretically full of data and measures.
That field is finance and trading.
Taleb mocks and taunts the mathematical models of investment banks, saying they all operated under the false assumption that there are tools to measure uncertainty.

The author says that many models of portfolio and risk management exclude the possibility of a black swan.
This was the case for Long Term Capital Management, where the Nobel-prize winning founders, so sure of their mathematical models, loaded up on risk and created a time bomb. At the very first black swan, within a few years of its inception, LTCM risked taking the whole financial system down - turns out that “long term” is relative :)-


In particular..


                     A Wise Man Knows He Doesn’t Know Anything

Taleb promotes a focus on “anti-knowledge”, such as a focus on what we don’t know.

He says we should not try to predict them but adjust to them. And when we adjust to them, we can position ourselves not only to limit the downsides, but also to take advantage of possibly positive black swans, what he calls “serendipitous black swans”.
         
                            We need to adjust to black swan existence instead of naively trying to predict them



I try to advocate for marketing workers to "try something different"... i.e.  since "success" is path-dependent and non-linear... why not initiate activity on a new course that may lead to a positive black swan for BTS?

I don't know what will happen in the next 30 days...and if I apply an "anti-knowledge" perspective to what I do know --  i.e. conventional marketing methods have been tried for years, in a very competitive and technologically dynamic environment, but to date have yielded disappointing financial results --

I think new marketing strategies should be undertaken that avoid what Taleb calls

The Round-Trip Error

."... the tendency to confuse “no evidence of black swans as evidence of no black swans”.



i.e. just because there is an absence of evidence that a particular marketing strategy has worked in the past should not allow for conscious or subconscious bias to dismiss the strategy as infeasible or unworkable or DOA (dead on arrival).   
Black swans exist whether we want to believe or not... by definition they are low probability events but. NOT IMPOSSIBLE events..

BTS needs a POSITIVE Black Swan..

55
General Discussion / Re: why not borrowing?
« on: June 10, 2019, 02:52:48 pm »
Quote
in your eyes anytime the market is in down trend and we shouldn't do anything until the up trend come.

some CEXs has adopted CNY as base currency but suffered the shortage of bitCNY and finally unlisted it.

currently the key task is to guarantee the bitCNY supply.

No, that is your claim.Its a reason why some people don't borrow currently.I'm  fully in stablecoin and observing some bigger players who do borrow i also saw they exchanged part of their debt to stablecoins.

I agree that main focus should be now to provide supply of stable coins but we have also to accept that current stable coins can be mainly only used to buy directly BTS.
First goal should be to make stable coins more attractiv to be able to buy other major coins anytime at market prices and giving holders of stable coins the possibility to use it on diffrent exchanges with small spread in prices.



Quote
Frankly ..I don't put too much weight behind TA (technical analysis)...because at then end of the day..it's all a reflection of mass psychology... that's why $billions are spent on advertising every day..

how else does one explain the valuation of Dogecoin(#29) while BTS is (#51).... or CryptoKitties..

I think social, economic, financial and politcal events will impact price more than anything else...

You never know what kind of motivation will move markets...

 https://bitcoinist.com/how-the-mega-rich-buy-their-bitcoin

https://bitcoinist.com/bitcoin-exchange-site-traffic-may-coinbase-binance/


1.Leverage via stablecoins which makes BTS more volatile.It also means that BTS will rise way quicker in an uptrend than dodgecoin .
2.Way better marketing and adoption of dodgecoin.For me it currently seems bitshares oversleept marketing and adoption compared to other coins which it needs now to catch up quickly.

A good refference point is DAI.
How does it come that DAI is already listed everywhere where bitshares or its stablecoins try to get implemented?

Since you don't care about major TA signals what event is bitshares going to produce in next 30 days which in your opinion will impact the price more than major trends ?
I'm asking cause i do also belive that some events are stronger than market trends.

I agree with you...Marketing has to generate multiple consumer use cases for smartcoins in order to have steady growth and adoption..

Right now BTS needs a "spark" or catalyst to spike the demand...

I sent you a PM

56
General Discussion / Re: why not borrowing?
« on: June 10, 2019, 04:31:19 am »
Quote
this current (BTC) somewhat bullish market sentiment

Where do you see a bullish market sentiment ?

Weekly candle just confirmed of trend change



Also the use case of bitassets is currently very limited with big spreads when you watch major assets volume against bitassets.
BitCNY on a major CEX with cross trading and mirrored offers via DEXbot (on DEX,ZB,AEX and major CEX) could make a big diffrence making these bitassets more attractive again closing the gap and increasing the volume and liquidity.


Frankly ..I don't put too much weight behind TA (technical analysis)...because at then end of the day..it's all a reflection of mass psychology... that's why $billions are spent on advertising every day..

how else does one explain the valuation of Dogecoin(#29) while BTS is (#51).... or CryptoKitties..

I think social, economic, financial and politcal events will impact price more than anything else...

You never know what kind of motivation will move markets...

 https://bitcoinist.com/how-the-mega-rich-buy-their-bitcoin

https://bitcoinist.com/bitcoin-exchange-site-traffic-may-coinbase-binance/

57
General Discussion / Re: why not borrowing?
« on: June 09, 2019, 10:00:15 pm »
You have a million USD, you should go get a collateralized loan so the bank has more money to use.

Yes, that's the logic for the smartcoin economy to become prosperous.

surely this is not saying "responsibility" or "job", it's saying there is incentive for whales to do so.

and it seems few are interested in doing so, it's somehow disappointing.

I plan to contact more rich persons and try to lobby them to become smartcoin producers.

it's very possible that some time in recent future the chance to buy big amount of BTS under 0.5CNY will disappear, will you feel regret?

The images did not display properly ?

I would guess that the whales would produce more smart coins if they can be convinced that the demand will continue to grow
along with this current (BTC) somewhat bullish market sentiment and make it worthwhile for them over the longer term..

I sent a PM to you with an idea to grow demand

58
General Discussion / Re: bitusd peg
« on: May 31, 2019, 05:55:17 pm »
It always comes down to this...everything gets personal.

I'm sorry if my tone was offensive. It wasn't meant to be.

What I'm trying to say is - it's easy to say "we need this" but it's damn hard to get the details right. I don't see how this idea could be made to work, and despite the fact that it has been brought up repeatedly over the past two years or so, *nobody* has come up with a detailed description of *how exactly* it could be done.

That's why I say "Write a BSIP". *Someone* has to come up and describe the mechanics of a bitasset that is backed by multiple tokes at once. You don't need a deep understanding of MCR and MSSR. Maybe it's even better if you don't know much about these, and come up with your own ideas instead. Write down what you think it means to have an asset backed by two other assets. Describe what different actors in this model can do, like short tokens, trade tokens, settle tokens.

Once you're finished, start attacking your model with questions like mine above - "What if...?". If you model has an answer to all your questions it might be time to show it to the public, and see how it holds against *their* questions. I'm pretty sure if you come up with a working model it will be accepted.

Thanks for your reply...No worries...I understand your dilemma.

Part of my exasperation is that it SEEMS like the marketing aspect of BTS does not get the support or attention from Whales that it needs ..and of course given the BTS governance structure that is the only type of attention that matters..

What's frustrating to me (and I suspect many others) is that there never seems to be even a consensus to TRY something ..any marketing effort that all supporters of BTS can contribute to..(whether whales or not)...https://bitsharestalk.org/index.php?topic=27733.msg328382#msg328382

As I said in this thread 60+ days ago  "we won't succeed  if we don't try"   (https://bitsharestalk.org/index.php?topic=27733.msg328539#msg328539)

A lot of energy just gets dissipated in debate & dispute...and the perfect (solution) becomes the enemy of the good..

e.g..The above referenced analysis done by Mr. Cryptic1 at dexbot.info....I thought there might at least be a discussion on here regarding the report's conclusions and/or suggestions by subject matter experts,

The report clearly states,

"...factors that need widespread dissemination and discussion. I believe all policy makers would be better informed after considering the ideas contained here in.." 

My perception is that for such a long time marketing efforts are invariably submerged by what seems like a singular focus on the financial engineering aspects of the ecosystem..which by it's nature tends to dissuade a part of the BTS community from joining the discussion...including newbies, (i.e community growth)..

If anyone other than a whale or some sort of influential equivalent poses marketing ideas it shouldn't feel like a thankless task to be ignored or maybe a vector for personal attack, I for one would just consider it  like  "open source brainstorming"...

My attempts to start a discussion ..feels like tossing confetti into the wind instead of seeds onto soil. . 
(but we were in agreement here....https://bitsharestalk.org/index.php?topic=27733.msg328409#msg328409)..

If the discussions on here are made more appealing..maybe some solution to the questions you pose (regarding allowing BitAssets to be backed by other coins), might emerge from the collective wisdom and energy of a larger group of participants...You never know when or how a moment of inspiration will occur....

Speaking of which...a moonshot idea occurred to me whilst in the kitchen...

so I sent bitcrab a PM....instead of giving up and not even trying...I think that was the responsible thing to do..


59
General Discussion / Re: bitusd peg
« on: May 30, 2019, 11:09:20 am »
Open Market or Insurance Fund or Reserve Fund

Settlement is mostly meant to be used when the market does not provide sufficient liquidity, so that's not an answer.
We don't have an Insurance Fund, so you must spec out that too.
We have so far strictly avoided using the reserves for bailing out speculators, and IMO that's a good thing. I hope such a proposal will have little chance to succeed.

Point is this ....needs to get started or once again an opportunity will be blown..

Then go ahead and write a specification. Answering a few select questions on a simple example is not one.

I could engage but..
It always comes down to this...everything gets personal.

If the whales have the most votes..stand to benefit the most..and are adept at writing "specifications" given the constant tinkering over MCR,, MSSR.etc.etc.,   (and history shows they are the only proposals that get approved..)..is it minnows responsibility to write specifications...that's like a lawyer disagreeing with his client and having a tantrum and says, "OK..go ahead..represent yourself in court"...

and yet your reply to me is " go ahead you do it..".....

You know what...I'm done.....Keep talking to yourselves...I'm sure shortly there will be a stampede of buyers for BTS because...MCR is now 1.6!

In sports when the team players, the manager, the owners, the sponsors, the fans are all bickering because of the franchises losing record..

  there is a saying..."Winning solves a lot of problems"..

If we're going to make it personal..

Engineers are not Marketers and Marketers are not Engineers...

e.g   Steve Jobs and Stephen Wozniak...made Apple Inc..a winner

60
General Discussion / Re: bitusd peg
« on: May 29, 2019, 11:07:48 am »
Given the current crypto bull market sentiment...wouldn't it make sense to for a BSIP to be put up for a vote to accomplish this..?...

Of course it would make sense. Problem is... we don't have such a BSIP. People keep requesting this, but so far nobody has come up with an explanation *how exactly* this would work.

What does it *mean* to have an asset backed by different things? Suppose for example that bitUSD was backed by BTS and OPEN.BTC. Can you short bitUSD by putting up either BTS or OPEN.BTC as collateral? Or 50% of each? What does it mean for forced settlement? Can the settler choose if he receives BTS or OPEN.BTC? If he chooses BTS but the least collateralized short is backed by OPEN.BTC, where does the chain find BTS for him? What if OL goes bankrupt, so the OPEN.BTC collateral is worthless but the BTS collateral is not?

A BSIP must answer all these questions, and many more.

What does it *mean* to have an asset backed by different things? Suppose for example that bitUSD was backed by BTS and OPEN.BTC.

 Can you short bitUSD by putting up either BTS or OPEN.BTC as collateral?  Yes

Or 50% of each? NO    it should be TWO separate short transactions..

What does it mean for forced settlement?  Can the settler choose if he receives BTS or OPEN.BTC?  NO

 If he chooses BTS but the least collateralized short is backed by OPEN.BTC, where does the chain find BTS for him?   

Open Market or Insurance Fund or Reserve Fund

What if OL goes bankrupt, so the OPEN.BTC collateral is worthless but the BTS collateral is not?

Insurance Fund

Point is this ....needs to get started or once again an opportunity will be blown..

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