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Messages - bitmeat

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91
Good luck maintaining a peg.
Hopefully they bankrupt themselves.

Maintaining a peg is super easy. Any central bank can provide a DPOS system that will work. Then when they print their next $1B worth, they can issue it on a blockchain instead. In fact I expect Central Banks to use a distributed ledger in the near future. This will also make Bitcoin and all other cryptos mostly obsolete.

92
If Bitcointalk finds it acceptable to modify the interactions between people who helped bring this technology into being, then it is as good as worthless and has shown unequivocally that it cannot be trusted.

Decentralized Forums, Where Art Thou?

93
General Discussion / Re: Bitshares price discussion
« on: June 25, 2015, 08:22:24 am »
I'm surprised someone with $40K doesn't just come in and buy BTS and short the hell out of those desperate bids. Or is the issue that they may have to cover a month from now?

I'm still unclear what the latest rules are. Can you short at higher prices now? Would a short order above be matched by a regular buy?

94
yes you are right and this will forever limit crypto currenciess to some extent. most people prefer chargebacks/fraud control that is in place because most people live ordinary average lives and dont come across a chance to double their life savings in a prediction market but are shutout.... i can give you 1/2 a dozen ways how capital control fucked me and i have to pay taxes to support it.  Most 9-5ers never deal with such things. i'm not even talking about illegal stuff,  just dealing with $$ markets.  capital control is the single best way to control citizens. this is not a tax rant either.

So true. I get that argument even from people who have low trust in any government and keep gold. They say... So... if my bitcoin stops working... who do I call?
And I'm like... unless you leak your password / private key it won't  stop working. And they keep asking... well but who can I talk to if I have a problem?

And the other examples I get - A friend flies to Europe for $4,000 ticket. Then they mess things up. Guess what... the credit card covered the flight and fixed everything. So to the consumer don't really understand or see the 2% the credit card companies charge the merchants. And 2% is a shit ton especially if you are on a tiny margin. To top it off merchants are not allowed to offer discounts for cash in the stores, or they can lose their visa/MC license.

95
Another one that's actually used a lot is http://getclef.com
That one is centralized

Yeah, I wasn't suggesting using getclef. But I was thinking that SQRL could probably be made cool if it worked similar to CLEF.

By the way most people DO need a centralized solution, because they are just terrible at keeping their own keys. I'm not a proponent of that, but I just don't see the average Joe really taking care of their own private keys in a manner that won't bite them in the ass.

96
prediction markets without smart coins don't work.    The volatility of the underlying asset overwhelms any profit or loss made by predicting the outcome of the event.

That's a slightly arrogant and profound statement. It's one thing to say "I think I have a decent solution X for problem Y". But to state "Unless you use my solution X, Y can not be solved" demonstrates a close minded mentality.

97
Another one that's actually used a lot is http://getclef.com

98
General Discussion / Re: New accounts last 24h:
« on: June 17, 2015, 03:31:01 pm »
20,000 accounts cost like what? $100? yikes.... I hope that if people throw $10K in account registering the system won't start having hiccups.

Through $100K in account names - 20M user names, can the system handle it?

Perhaps name registration itself should cost more.


99
Bit SmartMarmot sounds so much better than BitMarmot. :)

100
There is also the Bitcoin model - create a crypto, then create value for it. Cover costs by being among the first believes to dedicate mininga and development time.

I love DPOS and POS algos. But for distribution I prefer mining. There are really great algorithms now that allow for good distribution. It also has a viral effect.

I know BTS community is against mining, but if you think about ProtoShares (PTS) -  believers in the ideas mined and did well overall.

My take on that is that there are 600 coin distributions out there already for every demographic imaginable.
Dog lovers, permaculture enthusiasts, mars colonizers, economically aware libertarians, you name it.
So you can roll you own "fair mix"by sharedropping on custom tailored mix of chains to exactly the kind of supporters you want to attract.
If you use mining, you just get a demographic of geeks who know how to set up a mining rig.
Worse, you get a demographic of big mining pools who will suck up your "fair distribution" and resell them at their true market value.
If they are going to ultimately be sold to people who actually want them, you might as well sell them yourself and raise development funds in the process.


Stan, my point was, I'd like to see your "SmartCoins" allow to define custom distribution including mining. That's all. :)

EDIT: also better in terms of regulation.

101
There is also the Bitcoin model - create a crypto, then create value for it. Cover costs by being among the first believes to dedicate mininga and development time.

I love DPOS and POS algos. But for distribution I prefer mining. There are really great algorithms now that allow for good distribution. It also has a viral effect.

I know BTS community is against mining, but if you think about ProtoShares (PTS) -  believers in the ideas mined and did well overall.


102
Stakeholder Proposals / Accelerated Vesting of old BTS?
« on: June 16, 2015, 04:49:20 pm »
What about BTS vesting? Can we accelerate the vesting in the new BTS 2.0?

i.e. shouldn't we just remove the vesting for the old assets altogether once live on the new chain? This would also encourage abandoning the old chain.

When companies get bought / merged, they usually do accelerated vesting of all the outstanding options.

103
General Discussion / Re: Bitshares price discussion
« on: June 16, 2015, 04:43:25 pm »
Interesting that chinese bears keep smacking price down with large sells on every rise.. Other coins going exponential and don't even have any news lol go figure.

I'd be happy if it is the devs selling to pay bills. Allows for newcomers to enter, and balances out the distribution.

104
Didn't you know? Coming up with new names is 90% of the innovation!

105
General Discussion / Re: Bitshares Wikipedia article
« on: June 16, 2015, 08:31:26 am »
He can't! It's the delegates decision which  rules they will  support!  Until now the delegates agreed with the most changes that BM proposed.... that doesn't mean

Show me a list of delegates that have been promoted without Bytemaster's support. It's a one man show. Might be a good one, but could be so much better. It takes time, I like the new direction. Not a FUD, just playing devil's advocate. If you put crazy stuff in the article, it will get heavily debated and possibly removed.

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