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Messages - CryptoPrometheus

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General Discussion / Re: Bitshares and LLC
« on: January 20, 2015, 04:56:19 am »
Is somebody working on a whitepaper for User issued assets? I too have been trying to find answers to  questions about their function and how they allow compliance with securities laws.

OMG, Can't wait for the recording!  :P

General Discussion / Re: ByteMaster's Blog -- Nubits
« on: January 14, 2015, 11:17:05 pm »
Fuzz, this is awesome!

General Discussion / Re: Decentralization-of-Nxt-vs-BitShares
« on: January 13, 2015, 04:56:32 am »
On the NXT reddit, the only rebuttal so far is "NXT-K5KL-23DJ-3XLK-22222 is the forge leasing account,  NXT-MRBN-8DFH-PFMK-A4DBM is the SuperNET account.

Does this matter? I'm not sure about the technicals....
Bytemaster, should you add the reply (why this matters/doesn't matter) to your blog entry? So as to address the rebuttal and wrap up the argument one nice tight little package  ;)

General Discussion / Re: Referral Program Starting Today
« on: January 08, 2015, 07:01:28 pm »
If you want to "mask" your referral link then do this:


and then register page1 :)

I wonder how quickly pages 1-99 will now be registered  ;)

Eventually there will be trusted 3rd party insurance entities (like squaretrade) that will offer dispute mediation services for a spread.

As far as involuntary chargebacks, I don't think this could ever be a feature because (what @toast said above).

General Discussion / Re: Milestone changes
« on: January 08, 2015, 01:45:46 am »
Well, Looks like things are progressing since this morning.....

0.5 is now at 100% and everything else has been pushed forward 2 weeks

Mind boggling. Nobody but Rune even mentions bitshares. Kind of reminds me of the early BTC years, when you pretty much couldn't find anybody that understood, let alone were patient enough to try and understand. Bitcoin required such a radically new way of seeing things, it took a few years for people to wrap their minds around it.

Bitshares seems to be in the same boat right now. Though this time, I think the realization might come a bit that we have marketing teams paid by the blockchain!

General Discussion / How to attract Gateways?
« on: January 06, 2015, 08:55:06 am »
How can we convince existing exchanges to agree to become gateways to BTS once they realize that doing so will contribute to their own eventual demise?

Maybe I am giving them too much credit, and many will simply see BTS as yet another opportunity to collect transaction fees. Nevertheless, are there any legal entities besides crypto-exchanges that can we go after as potential gateways?

Like credit unions, money transmitters, banks even? Just brainstorming...

General Discussion / Re: Draft Content for New HomePage
« on: January 06, 2015, 07:54:47 am »
Just had a quick look I think it looks really good.

My thoughts & input -

The Decentralised Bank & Exchange

Maximise privacy
With BitShares your account is completely private. No personal details are required.

Low fees
Our fixed fee of $0.01 for any transaction or trade is one of the lowest in the world.

Earn Variable Interest
Balances earn a variable interest rate. Currently averaging APR X%

Huge Selection
Keep balances in any major national currency or crypto-currency as well as gold, silver, oil & many more.

BitShares is simultaneously located in many countries at once, so it can never be shut down.

Ditch fractional reserve banking & fraudulent accounting. Your balances are always 100% accountable & secured by an average of 300% collateral that's fully transparent and viewable in real time.

Transactions & trades execute in less than ten seconds.

            Any Currency. Any amount. Anywhere. Anytime.

Good "active voice" & commanding. I like this wording much better than the op draft

General Discussion / Re: Beyond Bitcoin's New Year's Gift...
« on: January 01, 2015, 07:50:47 am »
This is a great Idea and I for one would fully trust fuzzy to handle these funds until multisig is figured out. Lets do it!

BTW, really good speech. 
I was totally thinking about that scene from the movie"Independence Day" while reading it  :D

General Discussion / Re: ripple rally
« on: December 31, 2014, 08:07:35 am »
@Alexkravets: For a long time I was a ripple supporter and I understand all the benefits of Ripple and absolutely make sense and will be used in the future. Although I do not like very much its centralization...

What really frustrated me in Ripple and this is the reason I will never use it again as investment (buy xrp and hold) is its distribution. I was caught up in the huge dumping and there is no guarantee that this will not happen again when initial shareholders can massively dump. Every crypto can experience dumping but this risk with Ripple is much greater imho, especially after this rally the last month. Is there a reason to believe that this is not the case anymore?

On the other hand Bitshares can do whatever ripple does and much more in a decentalized manner. Isn't it obvious that Bitshares is a better investment (buy and hold) than Ripple? Of course Ripple is backed by the existing financial system and this is really difficult to compete, but since we believe in decentralization, bitcoin, freedom and liberty of finance shouldn't we all try to support bitshares over ripple? We can't change the world we live only with words and support existing systems because they might make us rich. We actually need to do something different about it.

I also invest my conscience, would it could be realistic to expect the same from most people....
That said, why not embrace rather than fight their success, and lets get some gateways set up.

Another positive spin is that all these are not being trademarked:  bitUSD (they want bitdollar), bitEUR (they want biteuro), bitWTI, bitCNY, etc.  I would be content with taking the "forex / trading" versions and letting them have the "normal word" versions, if it came to that.

The only collision we have is bitgold. There's lots of bitcoiners who would fight that one though.

Agreed. The 3 letter all caps forex versions sound much more "official"

Here's the wikipedia on the CEO of bitreserve, Halsey Minor

Apparently he's into filing lawsuits. He currently has a number of outstanding cases as well as cases against him. Also, he filed chapter 7 bankruptcy less than 2 years ago (May 2013).... looks like he supposedly owes over 10 million in taxes to California.

"As of 2012 the state of California listed Halsey as the #1 on the list of the state's Top 250 Delinquent Taxpayers"

I would not risk trusting this guy as the counterparty for my investment with this kind of liability hanging over his head.

General Discussion / Re: Vitalik on stable currencies and POS
« on: December 30, 2014, 07:12:27 am »
All cars are basically the same: Mostly they have four wheels, an engine, a steering wheel, brakes, etc. However no one would argue, rationally, that all automotive companies should merge. The diversity of needs and desires of the market supports different approaches to the same problem.

The crypto space needs to be the same to avoid dieing to group think. While I don't support the open hostility common between competing crypto technologies the competition for market share is good for everyone.

Necessity is the mother of Invention, and competition is the reason for necessity. If there is no competition, there is less reason to innovate. And innovation is badly needed to free humanity from the current centralized power structures. Ergo, the more competition, the better!

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