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Messages - biophil

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181
General Discussion / Re: The end of POW approaches...
« on: December 26, 2014, 10:38:40 pm »

Whether or not these are just reflective of the ideas expressed in the proposals, the problem is that myself and I assume many others were under the impression that what the  second sharedrop to PTS and AGS was for was to ultimately buy out PTS and AGS for their features (including having BTS be the new sharedrop target for third parties as well). I was here all through the merger fiasco and not once did I think things would turn out like this, because it wasn't clearly communicated. I can almost guarantee there are many of us who would have strongly opposed the 14% sharedrop inflation to PTS and AGS if we would've known that PTS was gonna continue competing against us and steal resources/spotlight/community etc.

PTS is not a competitor to BTS and certainly nobody is "stealing resources" (that's not how open source software works). They are completely different tokens directed towards different applications. BTS is a feature-rich DAC that is intended to disrupt a variety of industries, while PTS is a DAC-agnostic sharedrop token that could never compete with BTS on features or development. No crypto-coin in history has EVER been displaced by a copycat clone or a token with a subset of its features. Other DACs will exist whether we want them to or not. PTS ensures that we get a stake in all of those tokens, many of which will be doing things that BTS doesn't desire to do (see Music for example). It is true that 3rd party DACs (not PTS) will compete with Bitshares and that some of them may be successful despite our wishes. PTS ensures that we own a stake in those tokens too. It is not a zero-sum game. We are not losing anything by holding both the vanilla DPoS sharedrop token (PTS) and the Ferrari of DACs (BTS). Killing one will not increase the value of the other, but having them both will probably lead to some synergy. This is the same reason why Toyota created Lexus, Honda created Acura, etc, etc, etc. They are directed towards different applications (not competitors), and yet they both promote the same underlying technology (DPoS).

Excellent words. The recent animosity towards PTS has given me a very sour taste in my mouth towards the mob mentality in the bitshares community. It feels all-too reminiscent of the tribalism you see over on the Nxt forum whenever you mention BTS.

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182
General Discussion / Re: PTS - the insane gift that keeps on giving!
« on: December 24, 2014, 03:31:07 pm »
I strongly support dropping DVS on PTS, and I will downvote any delegate that rejects the PTS sharedrop.

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183
General Discussion / Re: BITUSD P2P Lending
« on: December 24, 2014, 04:21:38 am »
Collateralized lending is planned for BTS.   Unfortunately, what most people want is uncollateralized, trust-based lending.  For the uncollateralized model to work you need a global ID / reputation system and that is under development for BTS.

Would the purpose of this be to enter into true unrestricted short positions on bitAssets?

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184
BitShares PTS / Re: To buy or not to buy PTS, that is the question.
« on: December 24, 2014, 12:47:00 am »
AGAINST:

Any funds that you use to buy PTS can then NOT be used to buy BTS.

FOR: diversification is never a dumb choice.

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I do not agree. I can think of many instances where the greatest expected return is from betting on one winner over spreading out your bet (or investment, if you prefer).

For instance, if you buy every ticket in a lottery - you have lost for sure (your cost exceeds your winnings). In fact, according to accountants, your greatest expected return on investment comes from buying exactly one ticket.

In a horse race, it is more lucrative to pick one winner over spreading out the bets over several horses in the same race.

Where diversification might be valuable is when you spread out your investment into different sectors, so that if one sector goes down, another sector is likely to go up. But BTS and PTS are hardly in different sectors. In fact I would say that the success of PTS is dependent on success of BTS. If DPOS fails in bitshares, it will surely fail in protoshares.

Your definition of the word "expected" must be different than mine.

In any case, your examples (horseracing and lotteries) are zero-sum games with a house edge. Real economic settings like cryptocurrencies are generally not zero-sum games.

If PTS gains some traction as a sharedrop target (big if, I'm well aware) it will have very low short-term price correlation to BTS due to the snapshot price swing cycle.

It's probably true that long-term correlation between PTS and BTS will be high, but that's not really what interests me about PTS.

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185
BitShares PTS / Re: To buy or not to buy PTS, that is the question.
« on: December 24, 2014, 12:08:29 am »
AGAINST:

Any funds that you use to buy PTS can then NOT be used to buy BTS.

FOR: diversification is never a dumb choice.

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186
BitShares PTS / Re: To buy or not to buy PTS, that is the question.
« on: December 24, 2014, 12:07:16 am »
I have most of my bids around 100 satoshi. At that price it's hard to argue against picking some up. If some interesting coin ever announces a sharedrop, the price could easily pump 2-3x from there.

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187
Looks like it is centralized by "USD reserves":

Proof Of Reserve
PayCoin™ is backed by a fiat-based reserve of USD that shields early adopters from risk and increases acceptance by large institutions.

It's moments like these when I wish I could easily short these pump and dump coins.


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188
Technical Support / Re: Nov 5th PTS snapshot
« on: December 19, 2014, 08:46:51 pm »
Oh ok, I guess I'll keep waiting. But I put that command and it says Method not found (code -32601). This is the v1.0.0.0-unk-beta version of the wallet.

I'm not sure what you downloaded, since bitshares doesn't have a version 1 yet. Maybe you're using the bitshares-PTS wallet? They're totally different things.

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189
It warms my heart that you're working for us and not a competitor. :)

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190
BitShares PTS / Re: Where are my coins???
« on: December 19, 2014, 07:39:05 pm »
Bter has 5 days with PTS trade stopped

Yeah, giving all the rest of us plenty of time to dump our new PTS at beautifully high prices on poloniex.

The biggest lesson I've learned from this particular snapshot is to have a few shares on each exchange that honors the snapshot. Anybody who had coins on poloniex (I didn't) for this snapshot had multiple chances to sell at 10x today's price. I spent a whole day drooling,waiting for them to open up deposits.

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191
General Discussion / Re: why USD/CNY market not active?
« on: December 19, 2014, 05:11:11 pm »
Vikram told me it's a bug, and I thought he said they were fixing it in 0.4.27.

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192
BitShares PTS / Re: Where are my coins???
« on: December 18, 2014, 04:31:40 am »
Yes, of course. They are working on it. 

Just wondering if this is normal for this coin or why the transaction is no where to be found in the block explorer.  Maybe I'm doing something wrong.  I was hoping the community would have some insight.  Maybe it's just poloniex adjusting to the new coin.

This same thing happened to me today as well... I'm not going to try very hard to withdraw from polo until they get it figured out.

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193
BitShares PTS / Re: PTS vs BTS Snappshotting
« on: December 16, 2014, 03:21:43 pm »
We already had the snapshot drop to end all snapshots, but now we have the walking zombie PTS as well. What we need is a new Social Consensus. A BTS drop is most important, since that represents most of the community now, but it could also include the new PTS as well as AGS to balance that. Hey, maybe you'd throw MUSIC and PLAY drops in there too! Anyone want to commission a poll?

I had this suggestion

I was going to suggest that. Both AGS and PTSers represent the sharedrop group which follow BTS. Unifying them gives a wider representation and makes it tempting for future developers to sharedrop on.

I would even extend it to make it 30-40% PTS, 30-40% AGS and distribute the remaining among other 2.0 projects like NXT, XCP, NEM etc. The NEM shareholder list in particular is quite interesting as it covers most of the Bitcointalk group.

In this way we make it easy for any developer to have an easy sharedrop target. I would even go ahead and ditch the 20% and ask for 'only' 10% to fulfill the social consensus. The idea is to make this as attractive as possible as a sharedrop target and would benefit us all in the long run.

Of course, alphabar and co. doesn't want to consider anything else, they seem to think that projects are just lining up to sharedrop on PTS. In anycase, IMO DPoS PTS defied the social consensus and have no right to try and preach others about that.

Sumantso, I have a lot of respect for you as a long-standing forum member, but I wish you'd stop going on about this supposed "violation." It seems like your rejection of the concept of an upgrade is just for the sake of being pedantic. What if the markets accept DPOS PTS as an upgrade (I.e., old PoW stops trading and DPOS replaces it)? Would you finally accept that the DPOS PTS project was no more a "new DAC" than a simple hard fork would be?

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194
Yes, you're getting more shares over the next 2 years, but they're not available yet. You can take a peek at how many you're getting by importing your PTS and AGS wallets and then running the wallet_check_sharedrop command in the BTS wallet console.

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195
Technical Support / Re: Absolute Newbie Question about obtaining bitshares
« on: December 13, 2014, 12:12:32 am »
bter.com and btc38.com




BTW, I do not think Cryptsy trades BTS. Did you buy something else there? PTS maybe?

Excellent, thanks for the link, and yes I think you are correct about what I did.
The downside to btc38 is that you seem to have to have a Facebook account... that sucks... not a very secure idea.

If you don't want to use facebook, Bter only requires an email address to sign up.

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