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Messages - werneo

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211
"The nerds have turned their brains to money, markets, exchanges, etc. Wall Street won't know what hit them."

 +5%

Truer words never written....

http://www.reddit.com/r/Bitcoin/comments/2rf5sc/2015_the_year_of_the_decentralized_bitcoin/cnfjx1t

212
General Discussion / Re: Why I am an Austrian Economist [BLOG POST]
« on: January 07, 2015, 12:41:42 am »
Steven Pinker: The World Is Not Falling Apart
http://www.slate.com/articles/news_and_politics/foreigners/2014/12/the_world_is_not_falling_apart_the_trend_lines_reveal_an_increasingly_peaceful.html

If it's TL;DR, then try this TED talk:

Steven Pinker: The surprising decline in violence
https://www.youtube.com/watch?v=ramBFRt1Uzk

213
General Discussion / Re: What are Github commits?
« on: January 06, 2015, 10:07:39 pm »
Quote
If a DPOS based system is going to succeed it

The bigger issue is that DPOS itself needs to be vetted by some people with a strong cryptography and computer science background. Stellar for example discovered some flaws in their consensus algorithm. It's tough to design and deploy these things and the eventual implementation may be riddled with suboptimal design choices. Bitshares really needs a chief cryptographer to vet both the code and the consensus algo.

You guys also need a quality assurance delegate to review the coding practices, project management, and developer productivity and then write objective reports on some regular basis for the voters to review.

YES

  +5%

214
General Discussion / Re: Draft Content for New Bitshares.org HomePage
« on: January 06, 2015, 02:54:27 pm »
I literally think that this list/or some version of it is all that should be on the homepage. Take a look at these top websites:

https://www.tumblr.com/
https://asana.com
https://twitter.com/
https://www.paypal.com/
https://www.netflix.com
https://www.linkedin.com
https://www.pinterest.com

Each one of the above examples has minimal information on their homepage and one very obvious call to action to download or sign up - all of this above the fold. We should do something similar. You see this pattern with many successful online brands that require account creation. Don't give visitors the option to get side tracked or bored.

We should use the left hand side of the page above the fold for the points. Perhaps  the points could appear carousel style as they probably won't all fit on for standard desktop view, or just jquery fade in and out from one set of points to the next. The right hand portion of the screen should be reserved for a very obvious call to action button. A big download/create account button and perhaps a short youtube video taking you through the steps required to set up an account once you've installed the wallet. Seeing the wallet in action will show people it's a real working piece of software. A real distributed bank and exchange. We could auto-detect the platform (OSX, Win, Linux) so there is just one big button and not many. That's it. Everything else can be setup on specific landing pages (e.g. merchant specific stuff, whitepapers etc etc).

Within the format I've suggested above we should then start doing some A/B testing for the copy/order of the points, perhaps the videos (A/B test some of Max's longer BitsharesTV interviews)  and A/B the text used on the Wallet button download (e.g. Download Wallet, Open Account, Get Wallet etc...) and compare conversion rates based on these A/B experiments.

Yesterday we got 854 visitors (up from our usual 400-500 visitors):

https://clicky.com/stats/?site_id=100787377&date=2015-01-05

In the last 24 hours bitsharesblocks.com is reporting that we have had 40 new accounts created. That is a conversion rate of 4.6% visits to actual accounts - this isn't too shabby, but I'd wager it would be higher if we had a homepage that led people by the hand a little more and put downloading and installing the wallet in order to create an account right there first and front and centre.

Long term I would suggest that some web based sign up would be even better for conversions instead of pushing a download of the full client. I'm assuming some of the tech from the lightweight clients could be leveraged to make this possible on the main site eventually?

I'd be happy to consider working with Cass and Adam to make all this happen if it needs someone to code and project manage it. If BM and the team feel they need my help here then just ask. I'm spending so much time on this forum I may as well put some of my skills to use.

Anyway here's my mashup of all the suggestions, including some of my own. A little longer, but with the right design and optimization of the important one's, via A/B testing, I think we'd start to see better conversions from visitors to actual BitShares accounts. This as Adam mentioned is a very important KPI.

BitShares
The Decentralised Bank & Exchange


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

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%

Fast
Transactions & trades execute in less than ten seconds.

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

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

No Limits
Being decentralized means there are no withdraw limits.  You can trade any amount, at any time, from anywhere. 

Inclusive
Any one can create an account regardless of citizenship and without any identification.

Revolutionary
Remember how peer-to-peer file sharing revolutionized the film & music industry? The world of banking and finance is now evolving too! Get a wallet and see what all the excitement is about.

            Any Currency. Any amount. Anywhere. Anytime.

 +5%

I hereby nominate  pseudoscops for Marketing Dir.

One thing: Maximise privacy = A Britishism. For a US audience, should be: maximize

215
I agree about removing the reference to Dan's BitStamp loss. It doesn't add to the discussion and makes Dan look like a victim of the very thing he is cautioning against.

EDITS:

"Before diving into how crypto currency exchanges will work in the future, lets review how the roles that traditional exchanges perform today."

"There is a large time delay associated with moving money into or out of an exchange [ADD COMMA HERE] which means that traders must keep their funds on the exchange. This magnifies the amount of risk to users of the exchange. It also magnifies the risk to all users in the Bitcoin ecosystem. When ever [Whenever] there is a large security breach it results in significant sell pressure from both the thief looking to cash in their loot and from regular users hoping to sell before the thief."

"Bitcoin gives every user one or more account numbers (addresses) [COMMA, and] that give many people a false sense of privacy [security]. " [privacy= they know who you are but not what you are doing]

"Coinbase is already closing accounts based upon who you do business with after withdrawing your Bitcoins." [a link ref would be nice here. I have never heard this allegation before.]

"If we want to have even the slightest bit of privacy we need to divide the exchange functionality among hundreds of parties whom [who] are unlikely to collude to compromise identity. "

"BitShares will be a fully operation[al] exchange with many banking partners and no limits. "

awesome article.

216
Bravo

 +5%

217
Not sure about the argument that the Mt Gox perps are feeling a sudden need to liquidate. How much easier is it to hide btc than USD, EUR or whatever? Why move the funds around at all? If you are the perp, it's best to keep absolutely still and pretend you don't know anything about it. Keep the keys in a brain wallet and hope for the best. If they get caught and imprisoned, they'll have to remember their brain wallet password until they are released from the slammer.

I'm guessing we're are in the end phases of the year-long bear market. The crescendo might be a dramatic but brief drop under the April 2013 high (<$260). Then hopefully the bear will take a nice long nap and we can watch the bull run around for a while.

218
General Discussion / Re: The worth of Stan's contribution to BitShares
« on: January 03, 2015, 05:01:24 pm »
I always assumed Stan was part of the brain trust that winds up bytemaster and makes him go. How do you quantify the value of his contribution to bytemaster's solutions over the past 1.5 years? Impossible to calculate, I think. Stan is a founder. How can you quibble with the salary of a foundational contributor that made this project happen in the first place? Not a productive or enlightening OP, in my opinion.

219
General Discussion / Re: Vitalik on stable currencies and POS
« on: December 31, 2014, 04:42:21 pm »
2nd Paragraph:

"For all practical purposes a the dollar is ..."


3rd Paragraph, last sentence:

"and can be sold and the market price within 30 days."

Also sited -> cited.

Pull requested.

EDIT: Liked the post, btw.

last sentence of the first paragraph:

Quote
pegging to a fiat currency isn’t decentralized nor stable.

Double negative. Should be, "isn't centralized or stable."

220
General Discussion / Re: Vitalik on stable currencies and POS
« on: December 30, 2014, 06:05:18 am »
Sounds like bytemaster and Vitalaik should duke it out on the next Mumble session :)

Ethereum should just merge with us already :P

Give their community 10-20 100% delegates to pay their developer salary and inflate out stake that they can sharedrop to their ICO investors over time according to some social consensus (since they are a group of stakeholders we definitely want on board!). Then they can help develop whichever multi-blockchain system is best and then make ethereum the BTS blockchain for scripted smart contracts. Everyone wins and every group of stakeholders gain immediate returns from the massive spotlight that will shine on the BTS-Ethereum behemoth (that the ethereum investors can instantly begin to gain liquid shares in from the moment of the announcement).

You are not taking into account human egos. Just because something would be more profitable/more efficient doesn't mean that everyone will be able to overcome their needs to be the "winners". Neither Vitalik nor Dan are in sole charge of their projects and so, despite their ability to act rationally, the entire projects may not be able to do so.

 +5%

A marketing solution: Ethereum has received major media coverage. It is a more developed brand name than "BitShares". So -- the hypothetical merged system would be called "Ethereum".  ;)

221
General Discussion / Re: aboutBTS -- updates about BitShares
« on: December 27, 2014, 03:30:17 am »
 +5% awesome

222
Quote
The weekend launch of GAW Miners’ new altcoin, paycoin, led to a speculative boom in mining rig rental prices and a rarely seen boost in altcoin trading.

Paycoin launched on 12th December, kickstarting both a sharp jump in hosted mining prices and a period of sustained trading on several altcoin exchanges. The coin has attracted attention due to the ongoing discussion surrounding GAW Miners, promises of crypto 2.0 functionality and a commitment to shore up its price at $20.

http://www.coindesk.com/gaw-miners-altcoin-launch-sparks-speculative-frenzy/

223
General Discussion / Re: About the price,i want to say···
« on: November 20, 2014, 06:25:53 pm »
Yeah .. it was and still is communicated well that its alpha stage and NOT for serious money ..

If BitShares is not ready for "serious money", then that must also true of the entire crypto-economy.

In fact, virtually ALL cryptocurrencies (not just BTS) are in BEAR MODE right now. From this we infer that BTS is not being singled out by capitulating investors. So reminding people that BitShares is in alpha testing is well and good, but that fact is not necessarily related to the current price bleed.

224
Sure, let people do what they want.  It's a partly-free country ( :( )...but keeping the same name would be dishonest IMHO because it is not the same "coin" and doesn't represent the same value proposition.

That's a pretty good, solid and quantifiable reason to change the name of PTS to AlphaShares.

 +5%

225
General Discussion / Re: Bitcoin is going nuts today
« on: November 13, 2014, 02:09:08 am »
I expected this.. now it is to be seen how bitshares reacts.. so far its been bad... bitshares losing ground to bitcoin.. now the real test is when bitcoin ranges or falls does bitshares recover? We need to see bitshares OUTPERFORM bitcoin at these low risk:reward areas of bitshares... because if it doesn't to me, my bull targets may not be met in my expected timeline. I expect bitshares to rise when bitcoin settles, but how much is to be seen.

Relax. Bitcoin is a rising tide that will lift all 2.0 boats in the long term. Give it time. The rerise of Bitcoin is healthy for the entire crypto industry.

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