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Messages - wallace

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76
General Discussion / Re: Increasing BitShares Revenue
« on: December 01, 2015, 04:34:26 am »
in a no depth and liquidity marketing I don't think a daytrader can make much money from the market. they're most earned from rule. but this money comes from others lost. currently this is a hurt to the whole system.

I am no expert but isn't it the very nature of wall street and forex to have winners and losers?

And if we want more liquid market, what do we need?

More trading?

you're right, but the reality is we're not wall street, we don't have much users. it's easy to die.

77
问题的根源在于bitcny应用场景太少,除了巨蟹几乎没有应用场景可以提供流动性

理想的锚定不是永远1:1,但也不是bicny:cny永远大于1,而是在1上下很小的范围内波动,但这需要内盘的bitcny和BTS交易对保持深度

我看目前不是锚定不锚定的问题,而是bitcny是否需要transwiser的问题

虽然目前对transwiser依赖性太强,但在初期阶段我们要学会变通,规则是死的,人是活的,规则可以改变

我选择在目前阶段支持巨蟹,但我不否定强制清算功能没有意义

78
General Discussion / Re: Increasing BitShares Revenue
« on: December 01, 2015, 04:17:14 am »
in a no depth and liquidity marketing I don't think a daytrader can make much money from the market. they're most earned from rule. but this money comes from others lost. currently this is a hurt to the whole system.

79
General Discussion / Re: Price of BitShares on Dec 25th?
« on: December 01, 2015, 02:43:30 am »
Well, we're going to be somewhere between "a lump of coal" and 1250 it appears.

Until everyone finds out about the BIG DECEMBER NEWS.
;)

So whats the big december news?

Is it: 

1) Bitcoin goes back to $1000, resulting in BTS to 300 sat.
2) NSR passes BTS in market cap, while continuing to increase in satoshi price.
3) Feed prices are removed from all smartcoins, not just bitCNY, resulting in every one of them becoming unusable.

or 4) All of the above

5) Ander Continues Public Display of Butthurt.  :P



Yea some of these guys are impatient and lack vision.  [member=22103]Ander[/member] [member=11011]tonyk[/member].  They let price rule their emotions and fail to look at the big picture.  Here is what I said in August before 2.0 came out:

As investors, do we really think this next iteration will be the final version?  I have my doubts.  I have a feeling MPA's will be difficult to get right, but eventually the correct formula will be found.  Bitshares has been rebooted twice now.  First with the "merger" and now with 2.0.  I could foresee another reboot being necessary if this next version doesn't go exactly according to plan, but at least the dev team is willing to take on that task if necessary and not just try to patch things up if it doesn't work.

Ethereum has done a better job at underpromising and overdelivering, marketing 101.  They basically have told average users to stay far, far away with the frontier release.  In hindsight, bitshares should have done the same with their first release.  Realistically, both projects are probably near the same stage of development.  Ethereum has said it would be another year before a fairly stable user version is available.  I would expect bitshares to follow the same trajectory.  In 5 years we should have stable platforms for which to conduct all things finance, but it is just unrealistic to expect it anytime soon.  Who knows, maybe 2.0 will overdeliver, but it will be hard to overcome the hype yet again.

Pretty much spot on so far, although I don't think the whole thing will have to be rebooted again... just tweaks and feature adds here and there, which looks like a lot of work and will take time.  If you have paid attention to crypto development cycles so far, you could have seen this coming as I did and not believed all the hype.  I'm sure you guys have sold all here near the bottom. 

Here is another prediction for you.  Nushares will fail and become insolvent sometime over the next 5 years when bitcoin reaches the meat of its exponential rise during what I believe to be a developing primary 3rd wave in terms of elliott wave theory.  Volatility will destroy the peg.  As for now, I will admit I am also playing a further rise short term in Nushares as a small side bet.  The charts look poised for another rise.

sold doesn't mean quit. sold and buy at lower price, why not?

80
I find it contradictory and funny when you argue about free markets, but when the free market decides to bite you in the ass, you end up complaining.

Free markets are all about being a bitch to others but lord forbid others from being a bitch, right. The irony in this situation is hilarious af.

 +5% +5% +5%

81
Actually , BitCNY holders can get a fair price anytime now at BTC38 .
I suspect BTC38 forget to update their English version page , the Chinese version page already says "it accepts no more than 50,000 BitCNY deposit every day directly turn into CNY balance on a 1:1 ratio  ."

It's a more fair price than what you would get in the DEX because the DEX would never give you 1:1 price considering you actually need to sell your BTS at a unfair spread to get the fiat value you need .

So maybe now you can understand how transwiser is providing a peg that merchants would actually use  , unlike the status with BitUSD .

Last time I check , no exchanges accepts BitUSD as deposit , most of them only provides a market place to trade with .

Thats good.  I'm glad to see it.  Does BTC38 also convert 1:1 CNY to bitCNY?  I bet not, and if they do, probably not for very long.

That should be profitable for BTC38 as bitCNY should always trade above par and they can make the difference.  Depending on the bitCNY=>BTS=>CNY conversion and liquidity as you mentioned.

I'd like to see some bitUSD=>USD 1:1 services , that's an easy trade for near guaranteed profits.  I've considered doing this myself on a very small scale but I don't want to mess with US regulation I don't fully understand. 

It would make more sense for an exchange to do it.  Perhaps we'll see this at CCEDK soon.

They sell all their BitCNY to transwiser 1:1  .

The Bitcny deposited to BTC38 is the same CNY which deposited to BTC38 from bank, so yes it's obviously 1:1, and this business model have been running for a long time.

this is the reason why bitcny have a lot of users in China and most of them not even have a BTS account.

BTS need this kind of real business model, not a talking business model.

82
Everything we do to hurt the stake holders and speculators to please the so-called "real user demand" was based on a white dream  . What kind of real users will use a system that haven't proven itself "too big to fail" like Bitcoin ? At this very early stage , stake holders and speculators are really taking out their money to pay for this eco-system , not the imaginary real user that will never come in the short term or long term (really , ask you aunt , your uncle , to use this system , see how they would react . Yeah ...I tried that one .  )

Yes, I've tried the same.  It wasn't pleasant.

What do you think we need right now?  Surely you do not believe that settlement or SQP is the primary cause of the lack of users.  I don't think settlement has hurt anyone; if it has it is arbitrarily small.  I think the worries regarding it are overblown personally and should be fairly easily manageable.  You just have to know about them.

I don't think smartcoins are going to work until a market is built up around it.  And it may still need a lot of changes.  I think they are complicated and difficult to explain.; The fact that they are designed to trade above parity is foreign and unnatural.  But a lot of this need not be visible to a merchant or average user.  The tools on top of smartcoins might be where we get simplicity.  They will just work, and you don't need to worry about how. 

For now, I think UIAs is where the action should be.  A very reputable UIA is nearly as good as a smartcoin, and is free of all the complications and constraints. 

What happened to the private MPA3.0s that were supposed to make MPA1.0 obsolete?   I don't even remember how they were supposed to work.


UIA is a reasonable business .

But that's only if the market cap is big enough . NXT had UIA , only small time players play that . 

All it comes down to is market cap . No marketcap , no real users , no business partners .

I doubt people and organizations would recognize bitcoin this much if its market cap is as small as BitShares .

BitShares had it all backwards . It chased away the speculators , the investors at the very early stage where it needs them the most (just like start-ups need VC instead of finding users to generate income slowly ) .

We can't get real users because the system is not big enough .
Users will not risk their money (yeah ..BTA claims no risk , just like a bank without a decent office asking people to deposit money in their bank ) for a small operation .

I used to believe the real user demand crap , until one day I realize I couldn't even ate at a restaurant below my basic comfort zone ...how could I expect other people to risk their wealth
on something that's based on speculators' liquidity (basic theory of BTA) while the speculators are being treated like they doesn't matter to the system  , only real users does .

Even at today , when the developers propose to dilute to sell on the market , they didn't even know the precious buy order is not provided by the "real user" , but the "speculators" that they think was irrelevant to the greater cause .

As a freely traded object on the market , "demand" will not increase the value or the price of Bitsharws  , because there is always supply . The supply will not decrease just because someone release a nice wallet and have good faith that this wallet is for freedom , life for all human beings .

"The relationship between Supply and Demand"(Really , why other people keep saying if we have development and features , demand increase then price will increase ?? DO they not read books at all ??????  That's not what it says in the books .    ) is what decides the price . And that law hasn't been broken , even gold, with with world wide participant , its price can not go higher at any given cycle even with increasing user demand . The only way to increase the value is if enough investment capital   to come in and balance the relationship between supply and demand over time .  That's how the real world works . Users who buys gold can't not stop Gold's price dropping , only after a period of time (cycles in history) gold's price can recover and go higher . Real user demand sounds good , but in financial market , user demand hardly matters to the price of a freely traded object .

Product and Shares are totally different concepts . BTS are shares , BitCNY are too shares in a different form (still based  on the speculative value of BYS) .
Users buy iPhones and contribute income for Apple . And investment capital (including all kinds of investment and retirement fund ) come to bet on the shares with more P/E ratio .
If Apple screws over the investment capital , no matter how many people uses iPhone , the price of Apple Stock will never recover in years .
That's why there is "customer support" and "investors relationship" department in Apple , because these two are not the same.

That's what's happening with BitShares . It thinks it can success with "real user demand" , just like they think Apple's stock price is the credit of Apple users alone , and not belong to the investment and retirement fund in the US .

 +5% +5% +5%

83
General Discussion / Re: Price of BitShares on Dec 25th?
« on: November 26, 2015, 05:36:19 am »
600

I guess the BTC price will go up, so the BTS price will keep dropping

84
General Discussion / Re: NuShares price discussion
« on: November 23, 2015, 01:46:14 pm »
Buy backs are irresponsible for young businesses.

BM made an important point when he stated the difference between decentralized and centralized businesses is that centralized structures were more often trusted and legal. This also has implications for shareholders and how they value a decentralized business. (They are less trusted and there is less legal fall-back.)

We are put in a situation of competing head-to-head with centralized exchanges which are trusted, fast, and legal. 

Limited buybacks & dividends are a great way of increasing confidence among shareholders in a young decentralized business.  (As opposed to concerns over constant dilution/conflicts of interest/overcharging/CNX piggy-bank/14 month share decline - leading some to question if there will ever be profits and if there are will CNX just find a way to divert them to 'development' for the foreseeable future. )

The second benefit to buybacks for a decentralized business at this point in time is a marketing one. There is a limited amount of capital looking to invest in this area and a lot of competitors. Rising in the rankings is a great way to gain increased exposure, attention & as a result potential investment.

I am in favor on BTS buyback for 2 reasons. For one, people may be feeling better paying 0.1 BTS in fees than 40BTS. That's just psychological. Secondly, it makes current shareholders happy. Finally, for marketing purposes it can else increase exposure.

I have yet to look at the downside.

Buybacks are awesome. The thing is that you need money for buybacks.  Here in BTS land, everyone is completely broke.

NSR on the other hand apparently has shit tons of cash and is giving it away like candy. 

I am really sad that I only got about 2.5 btc worth of NSR for decent prices (sub 1500) this weekend before it shot up again.  The buywalls is even larger this week, its crazy.

what are you talking about? Buybacks ???

We here at BTS do not believe in buybacks - we believe in:

 - inflating the BTS - it is called blockchain self funding, mind you - generally we take the inflated amount and dump it on the already thin market!

- taking the money and providing no warranty on the product -  if something is broken we do not care, we are still great devs and we did not promise it will work.

- keeping the intellectual rights, so we can sell it to someone else.

- solid economic reasoning - if we do not milk the BTS, somebody else will.

BTS is a well, the water will never end!

85
Smartcoin is totally different from UIA.

Smartcoin is the real money, UIA is just a IOU.

For Example, if you have a UIA named A.IOU which backed by company A. as a user I can only cash out this IOU at company A. but if you have BITCNY you can cash out at Yunbi, BTC38 or Transwiser and so on. ..

absolutely IOU is very important to Bitshares to attract users, but smartcoin is our key competitive product, NXT also have good user experiences on IOU, but there's no other crypto project have smartcoin.


86
中文(Chinese) / Re: 比特帝国白皮书(修改)
« on: November 22, 2015, 03:30:24 am »
 +5%

87
Stakeholder Proposals / Re: Stealth Transfers Worker Proposal
« on: November 22, 2015, 03:24:55 am »
though I'm also a little bit disappoint about the Cost 45k which I think the feature already exist in BTS0.x but now need to re-paid. I prefer to get this done ASAP because this is really important to the huge fund get into the system. huge fund don't want their operation display to the public.

personally I don't care CNX get paid and this will be used to other projects because currently CNX is the bitshares.

88
My favorite BM
Give you all my comfort

 +5%

89
中文(Chinese) / Re: What are the plans of the Chinese Community?
« on: November 21, 2015, 04:20:07 am »
what kind of plan do you expect?

Chinese want to do some business based on a stable product, but various change make this impossible. the bitcny gateway Transwiser was reopened recently, and the DACx may reopen but I don't think it's now. few personal business is still on the drawing board. so on the whole there's no much news.

but please be aware of Chinese people still hold huge mumbers BTS,  even there're a lot of people left BTS I think still over 60% BTS are hold by Chinese.

it's obviously the trade is the most activities from Chinese community, trade means frequency transactions. that's why the transaction fee is low on BTC38 and yunbi.

so back to your questions, you want to know why Chinese support to lower the fee, this is why. because the trader most come from China.

Well we've seen a few BTS projects outside of China, so I expect something from China like that as well, specially since you're so many. Of course we need volume and it's great that you contribute for it, however..

What you're saying is although you're 60% of BTS population and bring so much volume, you all hold BTS based on speculation and don't build infrastructure to add to it's value? Yet, demand lower fees so you can trade on speculation with no regard for whoever sees BTS as a long term investment, actually builds stuff for the ecosystem and adds value and utility? humph.. fair enough

This is supposed to be a symbiotic relationship but now sooner or later, one of the communities is turning into the stepping stone. We'll see how it goes.

And no you barely just answered my questions (and thank you for the effort). What happened to DACx then? You said they might reopen.. what happened for them to "close"?

Would also like the input from the mods here.

just remind you what I said is my own opinion, it didn't represent the chinese community, just like your words only express the opinion of yours.

90
Random Discussion / Re: The worst user of the month award
« on: November 21, 2015, 03:20:50 am »
Disagree
though we have disagreement on some point, l want to show my respect to this man.

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