Quote from: Ander on October 31, 2014, 10:42:55 PM

Quote from: sschechter on October 31, 2014, 10:41:15 PM
Once turning complete scripting is implemented in the SuperDAC, how will it be different than Etherium is trying to be?

It will have the benefits of Ethereum while ALSO having all the benefits of Bitshares.  (DPoS, TITAN, speed, bitAssets, etc).

yhea .. they are still discussing POW .. and honestly .. I don't see a different way of distributing their initial stake as they just don't have PTS/AGS .. just their IPO ..

Quote from: sschechter on October 31, 2014, 10:41:15 PM
Once turning complete scripting is implemented in the SuperDAC, how will it be different than Etherium is trying to be?

It will have the benefits of Ethereum while ALSO having all the benefits of Bitshares.  (DPoS, TITAN, speed, bitAssets, etc).

Once turning complete scripting is implemented in the SuperDAC, how will it be different than Etherium is trying to be?

Quote from: xeroc on October 31, 2014, 10:31:47 PM

Bitcoin halving will result in unprofitable mining! pretty quickly. .

Mining cannot remain unprofitable for long.  Either miners shut down, which mean difficulty falls, which helps other miners, or price rises so that everyone is profitable, or some of each.

Quote from: bytemaster on October 31, 2014, 10:07:34 PM
I agree with the OP and fully recognize the problem.   Every change I am making right now is toward focusing in on *ONE THING* and doing it right/well with a long term plan.

I want to color in the details on BitAssets and make them easy to use prior to branching out to many different features.

We are focusing and correcting and as a result are now stronger than ever.   We need a solid foundation prior to major growth even if it means taking a few steps back in the short term.

That's how I understand it also. The first right step was the superDAC with all its consequences and benefits. This was the second logical step needed in the same direction. It was very reassuring to hear it on the mumble and to see it in writing in this post.
I want to use this post to thank toast, who according to you was the strong supporter of this line of thinking, who helped you make the correct decision your final one.
+5%

Quote from: luckybit on October 31, 2014, 10:12:18 PM

Quote from: matt608 on October 31, 2014, 09:57:46 PM
+5% Agree.  Enough visionary thinking, we need code-crunching.  We've got bitUSD and bitassets and other awesome stuff.  Lets get it out there.

We need both. I don't think we can ever stop innovating if you want the Bitshares community to compete with Vitalik and Ethereum. They aren't going to stop having bigger and better visions if you look at their grand designs. Vitalik is always researching, always coming up with new ideas, always willing to try new things.

POW, and the expectations from Etherium shareholders, is the albatross that hangs from Vitalik's neck.  When will the blockchain hire him to implement his vision in an economically sustainable way?  Would Etherium shareholders accept a consensus algorithm thats not based on proof of work?  Would Vitalik be willing to switch teams in order to drop the dead weight, or does he feel imprisoned by external expectations?

Quote from: bytemaster on October 31, 2014, 10:27:50 PM

Quote08-01-2016. Everyone who understands that date knows exactly what will happen

Please tell me... what happens on that date?

Bitcoin block reward halving.

Quote from: Ander on October 31, 2014, 10:29:43 PM

Quote from: bytemaster on October 31, 2014, 10:27:50 PM

Quote08-01-2016. Everyone who understands that date knows exactly what will happen

Please tell me... what happens on that date?

That is the estimated date when the next bitcoin reward halving will occur.

I dont really see why that is a big deal for us though (other than that it might increase bitcoin prices some, which helps crypto in general).

For me that explains it ..

Bitcoin halving will result in unprofitable mining! pretty quickly. .

Quote from: bytemaster on October 31, 2014, 10:27:50 PM

Quote08-01-2016. Everyone who understands that date knows exactly what will happen

Please tell me... what happens on that date?

That is the estimated date when the next bitcoin reward halving will occur.

I dont really see why that is a big deal for us though (other than that it might increase bitcoin prices some, which helps crypto in general).

Quote08-01-2016. Everyone who understands that date knows exactly what will happen

Please tell me... what happens on that date?

Quote from: xeroc on October 31, 2014, 10:01:11 PM
Thanks for posting!
My opinion on this is:
+ I can wait some years!
+ people keep on talking about dilution hear dilution there .. they don't see the big picture and they don't see that BTC has a significantly higher dilution that is WASTED ..

Anyway, once people understand what this "share injection"/"dilution" is good for .. and that it IS GOOD for the ecosystem .. we (the strong hands) will feel glad to be part of it! </IMHO>

I think most people who are complaining right now don't see the big vision or the true potential of what Bitshares could become. They are looking at the fact that the price is going down and reacting to it like how people react to Bitcoin when the price goes down.

Honestly it seems like we have a lot of speculators who don't really have a grand vision or see a big picture. If the big picture were to make a lot of money then the people who cashed out at $100,000,000 made their money. If the big picture is to change the world and our way of life then that is a much bigger challenge.

To do that you need to create DACs which allow people to quit their day jobs and dedicate themselves full time to this industry. If it requires dilution to get people to do that then let it be. It also has to allow us to do things which no one could have imaged were possible before and by providing greater flexibility levels you can remove limits. It requires speculators but those speculators should be making money from within the Bitshares decentralized exchange and not from the centralized exchanges.

The fact that the price is going down and people are reacting like how they are to Bitcoin provides evidence that a lot of these reactions are from people who are used to day trading Bitcoin. They may not really believe in building the Bitshares community, or see the grand vision, or have a grand vision for Bitshares that they want to help bring into reality, and without these sorts of dreams how do you convince people to do anything except focus on maximum profit?

In my opinion the profits will come in 08-01-2016. Everyone who understands that date knows exactly what will happen on that date. Bitshares has to remain in the top 5 market caps while also innovating, increasing utility, and adapting by implementing the latest breakthrough technologies. It's not a time to focus on share price but it is time to focus on building the foundation so that come 08-01-2016 once people rush into Bitshares with billions of dollars the entire ecosystem will be permanently bootstrapped.

If the correct decisions are made today then 08-01-2016 will be a new start for all altcoins. That new start will bring billions and lots of media attention. The fact that DACs can self fund, that there can be decentralized decision making, sets this technology apart and only Ethereum is thinking bigger at this point. If the level of innovation can be maintained then speculators will have their chance to get rich in a few years.

If you're new to the community, these kinds of sweeping changes are nothing new.  Whats different now is that BTSX is out in the open being freely traded, with a market constantly judging us, 24 hours a day.  In the past, the controversial decision has been the right one.  Eliminate mining, implement DPOS, and now, consolidation and re-prioritization of focus. It sucks seeing the share price take such a beating, hopefully, this is temporary.

Quote from: bytemaster on October 31, 2014, 10:07:34 PM
I agree with the OP and fully recognize the problem.   Every change I am making right now is toward focusing in on *ONE THING* and doing it right/well with a long term plan.

I want to color in the details on BitAssets and make them easy to use prior to branching out to many different features.

We are focusing and correcting and as a result are now stronger than ever.   We need a solid foundation prior to major growth even if it means taking a few steps back in the short term.

I can't +5% this enough.

Quote from: matt608 on October 31, 2014, 09:57:46 PM
+5% Agree.  Enough visionary thinking, we need code-crunching.  We've got bitUSD and bitassets and other awesome stuff.  Lets get it out there.

We need both. I don't think we can ever stop innovating if you want the Bitshares community to compete with Vitalik and Ethereum. They aren't going to stop having bigger and better visions if you look at their grand designs. Vitalik is always researching, always coming up with new ideas, always willing to try new things.

Lessons learned from other industries don't apply to here 1:1. Time moves a lot slower in those other industries while time for us moves extremely quickly. 2 years in our space is like 5 or 10 years in the tech industry.

How did Google manage to stay on top? They have a strategy of always innovating, testing out moonshot ideas, but also improving on what they have which is a success. The advantage of Bitshares is that it's more adaptable than Bitcoin and decisions can be made at this time with minimal consequences.

So in my opinion it is better that Bytemaster innovate as much as he can right now and put the foundation in place so that these sorts of decisions can be made formally through Bitshares VOTE in the future. He has to make Bitshares future proof or else Bitcoin could come with sidechains, Ethereum could come with Turing complete scripting, NXT could come with transparent forging, and they all have programmers who can crunch out code.

What the Bitshares community has is Bytemaster who is not just a programmer but also a visionary. If he stops being a visionary then Bitshares will lose everything that makes it unique in my opinion.

Yeah, investor uncertainty is what I'm hearing from people I speak privately with too. Nobody knows what will be proposed next and this frightens them quite a bit. However, I do believe bytemaster recognises this and it working on one simple message going forward. I'm optimistic for the future.