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Messages - fuzzy

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4996
General Discussion / Non-Profit DACs?
« on: December 06, 2013, 11:25:38 am »
http://altcoins.com/curecoin.html

Very interesting.  Along the same lines as PrimeCoin.  Could #DACs be built as non-profits??  I would assume parallel mining could be done with nearly all of them.  These types of things build trust from the outside community, actually help humanity and are basically free PR. 

Hell I might mine just for these sometimes...but merged mining?  It would be incredible to my thinking.

4997
General Discussion / Re: PowerBall, DAC - Lottery Based Mining Experiment
« on: December 05, 2013, 05:23:28 am »
Definitely an interesting idea.  I read somewhere about a percentage of bets being able to be stored as "savings" for people both when they lose and when they win.  It is a User Option that needs to be set up.  Perhaps it would not be a bad idea in this case?

4998
General Discussion / Re: Colored Coins / Mastercoin / ProtoShares / BitShares
« on: December 03, 2013, 07:13:32 pm »
Quote from: Gekko on November 28, 2013, 07:35:13 am
Thanks for the explanations!
So from what I read here BitShares - or even better: ProtoShares - would be the first choice because of the idea of the DACs behind it. Which to me seems like a huge potential the others don't (seem to) have.

Allow me to say that from what it looks (optically) at the moment (= the websites), Invictus / ProtoShare / Bitshare (tradebitshares.com - holy moses, remove those "motivational" pictures!) is "a little" behind of for example Mastercoin and other competitors. But I see theres a bounty already for creating good looks to back the good concept. And I think that will be one of the most important parts!
If I would just get a first impression of the Invictus / ProtoShare thing optically from the websites I would just think "BETA!" or "not trustworthy" or something like that. But for the whole thing to be successful you have to get lots of people to support the concept.
Also I don't really "like" the idea of a company behind all this. Companies are evil, companies want to make money, maybe by using me. - So it should be clearly stated that all of this is open, free for all, community driven and not dependent on a company (name) nobody has ever heard of.
These are my first thoughts so far.  Still appreciate more information of course.

I agree about the website pics...they look, well a bit cheesy.  My Mom and Dad will need me to get them ProtoShares...the portal should be more tinted in the direction of the gamer generation--grown up. 

4999
General Discussion / Re: DelieveryDAC?
« on: December 03, 2013, 07:02:54 pm »
The REAL question is...can we use drones with this to put a Hit out on Dolph Lundgren?

5000
General Discussion / Safe Password Entry Practices?
« on: December 03, 2013, 06:39:16 pm »
I heard somewhere using windows on-screen keyboard is the safest way to enter passwords.  Is this correct? 

Or, better yet, are there any programs/plugins that automatically encrypt your passwords when you are connected to the inet? 

Interested in keeping my stuff safe...

5001
General Discussion / Re: Colored Coins / Mastercoin / ProtoShares / BitShares
« on: December 03, 2013, 08:15:13 am »
Quote from: bytemaster on November 30, 2013, 09:59:46 pm
We are developing the new website now with help from this very forum


Sent from my iPhone using Tapatalk

Thank the good lord almighty ;)

5002
General Discussion / Re: Transition from PTS to Bitshares
« on: December 03, 2013, 06:31:20 am »
Good thought.  Is this how it is?  A protoshare seems to me like a token...and when a user holds that token AND a new DAC launches under the social agreement, a new share is "minted" in the forked genesis block for that DAC.

Is this Correct?

5003
Marketplace / Re: Dedicated Protoshare Mining Rigs
« on: December 03, 2013, 06:20:43 am »
Quote from: bytemaster on November 30, 2013, 08:14:32 am
About 1 PTS per day.

I do not recommend buying dedicated mining hardware.   The block reward, difficulty, and appreciation of PTS will never allow you to recover your capital costs.    It will take you 30 days to break even on capital of $400 and end up with 20 PTS (assuming difficulty does not go up).    If you purchased 20 PTS today you will likely be further ahead in 3 months than investing in a dedicated mining rig.

Isn't each future DAC going to require the same hashing algorithms and thus have the potential to be mined by the very same machines that mined protoshares?  Or am I missing something? 

If that IS the case, you are more than able to profit off of it...imo. 

Of course, there is also the matter of the CryptoCurrency Economy and its ability to turn work (mining) into a vote in a complex information market.  Mining gives you a vote toward helping something of value move forward. 

Just looking at the Seti project-- (http://seti.berkeley.edu/) makes this pretty obvious.  Millions of people help or have helped "mine" for this project...and thus voted it into existence.  Direct Democracy...
So really we are not so far from past endeavors--though we certainly are pushing that envelope here and in a few other places on the net.  This is an extension of these trends to a logical conclusion (given the state of corruption and banking cartels worldwide).

Maybe we should try to redefine the word "profit" or speak about this in terms of Kinds of Profit?   


5004
BitShares PTS / Re: NEW ProtoShares Logo
« on: December 02, 2013, 11:08:44 pm »
simple 2D is better than the lined 3D Version.  the 3D version without lines is sexy.

5005
General Discussion / Re: WeTube - Initial economic model - programmers - the great winners
« on: December 02, 2013, 12:22:52 pm »
Yerp.  No secrets.  That certainly is a pretty big deal.  A good video contest would be a good start to bring in quality content imo...

Looking forward to seeing how you guys move forward with this.  :)

5006
General Discussion / Re: PolitiShares?
« on: December 02, 2013, 12:18:49 pm »
Quote from: phoenix on November 18, 2013, 06:50:09 pm
Quote from: bytemaster on November 18, 2013, 05:57:26 pm
Quote from: Stan on November 18, 2013, 02:05:07 pm
Quote from: fuznuts on November 18, 2013, 11:20:51 am
Could this model be used to bring TRUE crowd-sourced ratings on politicians based on voting records? 

We all know of the quote "Lies, Damned Lies and Statistics"...because up until now Statistics were almost always altered by some Central Authority.  With the introduction of DAC's (god you guys are awesome for this invention btw), ratings could truly be crowd-sourced...and statistical models built upon data truly gathered through the "wisdom of the masses".

Great concept.  We won't know until some inspired entrepreneur (like yourself?) releases such a DAC into the wild...   :)

BitShares is a prediction market, and can operate like existing prediction markets.    We have designs for a secure, authenticated, yet anonymous, continuous voting system that could end media manipulation of opinion polls as well as the less-of-two-evils voting because you can change your vote (anonymously) at any time up until the end of the election.

I feel like the biggest problem in that kind of a DAC would be getting widespread adoption. Sure, a lot of tech-savy people would be able to understand and use it fairly easily, but many people could find themselves confused by the system if it isn't presented in a very simple format. Best of luck to anyone who tries this!

Well, "votes" can also be used in polling...right?  PolitiShares could provide statistical modeling for a fee...and the types of models sold are ones the community believes in.  Just a thought.  Let's kick up some dust on this for a bit. 

Of course...it could also be sold to non-profits for a significantly lower fee.  Many options here, but stirring the dust might help us identify more of them.

5007
Keyhotee / Re: $300+ for a Keyhotee Founder ID?
« on: December 02, 2013, 09:45:10 am »
Quote from: Riverhead on December 01, 2013, 08:21:23 pm
Simply put those that donated earlier can no longer sell the donated 10 PTS for $300 so it has effectively cost them $300 as well or more because the selling option is gone where as those that haven't donated can still opt to or not.

Considering the Founder ID is a reward for a donation I have no problem with most people not being able to buy one before the cast is poured.  As was mentioned earlier by Bytemaster or Stan 99.9% of all ID's will be available from day one so it's not like if you don't donate 10 PTS you're going to be stuck with a name like J0hnBob45.

I agree.  Been here since the 3rd day I believe and watched the price go up.  The first time it was increased was because of such a huge response from the MINING input side of the equation.  As I see it, it should get Progressively More Difficult as we move forward.  I mean these are basically Genesis Members in the block chain...these are individuals who were in on it on the ground floor when they were not certain how this would go.  They believed in it and proving one believes in something requires they sacrifice something else of meaning.  Just my two cents.

5008
General Discussion / Re: Can Protoshares be traded over the Mastercoin protocol? What about reputation?
« on: December 01, 2013, 10:02:52 pm »
interested to read more about this in the coming weeks and months...

this is an interesting topic for those looking at the emergence of cryptocurrencies as the beginnings of a completely new economy...and able to look at the big picture. 

definitely interested in hearing a more in-depth description.

5009
General Discussion / Re: MITOSYS: New Encrypted Communications Cryptocurrency
« on: December 01, 2013, 06:58:51 pm »
i will gladly help mine it.

Oh...and is this a DAC proposal too?

5010
General Discussion / Re: BitShares Currency Exchange (BSCurEx)
« on: November 27, 2013, 12:45:26 pm »
Quote from: bytemaster on November 26, 2013, 04:08:45 am
Quote from: 8bit on November 26, 2013, 03:35:20 am
Quote from: bytemaster on November 25, 2013, 06:15:14 pm
Quote from: 8bit on November 25, 2013, 11:35:18 am
Is BSCurEX (mentioned in the white paper) going to launch along with BTS? If not when is it planned, and what will we be able to invest BTS in in the meantime?

Also, once it does launch, wouldn't the best investment just be to rush bitBTC? That way you can ride it to its equilibrium, ride it as it follows BTC (which is appreciating in a fairly predictable manner) AND get BTS dividends?

BitShares has to rise in value to 2x the value of all BitBTC created.    So demand for BitBTC will cause demand for BitShares to rise faster.   If you want to 'play it safe', then BitBTC will give you the capital appreciation of Bitcoin + Dividends but personally, I would Short BitBTC relative to BTS.

Shorting BitBTC means what? Just holding BTS? Doesn't holding uninvested BTS incur penalties?

Also, Is BSCurEX planned to launch along with BTS?

BSCurEx is just another name for the BitShares system.  They are one and the same. 

Shorting BitBTC means you expect the price of BTC to fall relative to BTS.   No penalties for holding BTS.. where did you get that idea?  Holding BTS pays dividends.

This has probably already been covered somewhere, but I've looked a good bit to find it...so here it goes.  What exactly represents the dividends from owning ProtoShares/BitShares?  Are we going to get extra shares as dividends over time?..with the ability to cash them in at any time? 

For instance, I have 20 BTS...I get paid dividends in fractions of BTS each year, and the profit is made (realized) if/when I choose to sell some of them for BitCoin (or some other AltCoin)

Thnx in advance for any well thought-out answers.

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