Quote from: liondani on April 22, 2014, 03:01:58 PM

is bytemaster a prophet ?

Geeze. Give this young fellow a break. He doesn't need to be prophet or a demi-god. He just needs to be garden-variety visionary with great coding skills. Being Moses is too much pressure, brah.

Quote from: G1ng3rBr34dM4n on April 22, 2014, 05:15:40 PM

Quote from: bitcoinba on April 22, 2014, 03:27:48 PM
now I understand why the AngelShares/BitShares fundraiser/IPO was so convoluted, with a set amount sold per day in an "auction" format.  It may have been hard to understand at the time, but now I see the wisdom of it."

From: https://bitcointalk.org/index.php?topic=577149.200

I agree with this 100%. 

On a side note: One of the benefits I've noticed - gained directly from following bitshares, daily, for the past 6 months - is that: I've found my understanding of the high level economics of the crypto world, has developed much faster than those I've noticed around me; who are part of other alt-coin communities.  I jokingly like to think of my journey of understanding bitshares, as my 'unofficial econ minor' ;)  You guys got a test and a certificate??

In all seriousness, the more I look back at the decisions made early on by the bitshares crew, before I understood what was going on, the more I'm convinced about the level of understanding of economics this team has, and the greater my confidence becomes.  You guys KNOW economics. There are a lot of people that have been vocalizing how they are wary of the pivots taken - but after in-depth analysis and deep thinking, I don't know how anyone could think the current path isn't the way to go.

I know it was meant to be a joke, but I would love to do some kind of small, basic course (a certficate would be nice too). This field is both fascinating and schocking (in the sense that how easy it is for smart, greedy people to screw everyone else over). I don't intend to leave my current field and I have dialed down my crypto activities and only engage here, but having a proper understanding of finance/economics basics wouldn't hurt.

Quote from: bytemaster on April 22, 2014, 06:03:30 PM

Quote from: sumantso on April 22, 2014, 05:56:49 PM

Quote from: bytemaster on April 22, 2014, 12:46:08 PM
The maidsafe guys are well intentioned and admit the economic ignorance.   We will probably have to work with them to bailout their IPO and I have some ideas on that front.   

I hope this bailout will also benefit your loyalists (like us) in some way.

I do not mean financial bailout... after reading the bitcointalk thread it appears they are OK on that front right now. 

Anything I do is done to benefit loyalists.

Bytemaster for president!!

Quote from: sumantso on April 22, 2014, 05:56:49 PM

Quote from: bytemaster on April 22, 2014, 12:46:08 PM
The maidsafe guys are well intentioned and admit the economic ignorance.   We will probably have to work with them to bailout their IPO and I have some ideas on that front.   

I hope this bailout will also benefit your loyalists (like us) in some way.

I do not mean financial bailout... after reading the bitcointalk thread it appears they are OK on that front right now. 

Anything I do is done to benefit loyalists.

Quote from: bytemaster on April 22, 2014, 12:46:08 PM
The maidsafe guys are well intentioned and admit the economic ignorance.   We will probably have to work with them to bailout their IPO and I have some ideas on that front.   

I hope this bailout will also benefit your loyalists (like us) in some way.

Quote from: bitcoinba on April 22, 2014, 03:27:48 PM
now I understand why the AngelShares/BitShares fundraiser/IPO was so convoluted, with a set amount sold per day in an "auction" format.  It may have been hard to understand at the time, but now I see the wisdom of it."

From: https://bitcointalk.org/index.php?topic=577149.200

I agree with this 100%. 

On a side note: One of the benefits I've noticed - gained directly from following bitshares, daily, for the past 6 months - is that: I've found my understanding of the high level economics of the crypto world, has developed much faster than those I've noticed around me; who are part of other alt-coin communities.  I jokingly like to think of my journey of understanding bitshares, as my 'unofficial econ minor' ;)  You guys got a test and a certificate??

In all seriousness, the more I look back at the decisions made early on by the bitshares crew, before I understood what was going on, the more I'm convinced about the level of understanding of economics this team has, and the greater my confidence becomes.  You guys KNOW economics. There are a lot of people that have been vocalizing how they are wary of the pivots taken - but after in-depth analysis and deep thinking, I don't know how anyone could think the current path isn't the way to go.

On the last posts on page 11 bitshares is mentionned in a good way so it is an oportunity for members here to comment there also so more people on the bitcoin community recognizes the strong advantages of bitshares over the "competition"...

https://bitcointalk.org/index.php?topic=577149.new#new

""Representatively fair"?  The implied exchange rate between MSC and BTC was very clear.  If you can't do the math, it's your own fault.

I feel bad for MSC buyers who got stuck with them.  They are the ones who got screwed here.

Fortunately, I did not partake in this little charade, but now I understand why the AngelShares/BitShares fundraiser/IPO was so convoluted, with a set amount sold per day in an "auction" format.  It may have been hard to understand at the time, but now I see the wisdom of it."

From: https://bitcointalk.org/index.php?topic=577149.200

Quote from: liondani on April 22, 2014, 03:01:58 PM

Quote from: bytemaster on April 21, 2014, 05:30:43 AM
The challenge they face now is that the ipo is set in motion and cannot easily be changed.  Just like we learn   As we make mistakes so will they. 

We here in the bts community have one critical edge over every other project:  we understand economics better than everyone else. 

I have warned the maidsafe guys about their broken economic model, but they have too much momentum to change.     

They plan to try and then fix it if it fails. It will.

Hopefully they can recognize it and fix it ASAP, but that will set them back on schedule.   

Our strength of being willing to admit our designs are flawed is that our schedule slips. Others rush ahead with flawed (significantly so) systems.  We are the turtle they are the hare. We will win in the end with steady improvement and open minds  that are willing to adjust course. 

Maidsafe has great software and I want them to be successful.  In time we will be integrating keyhotee with them.  We just need to help them fix the economic model. 



Sent from my iPhone using Tapatalk

is bytemaster a prophet ?

we'll see :)

Quote from: bytemaster on April 21, 2014, 05:30:43 AM
The challenge they face now is that the ipo is set in motion and cannot easily be changed.  Just like we learn   As we make mistakes so will they. 

We here in the bts community have one critical edge over every other project:  we understand economics better than everyone else. 

I have warned the maidsafe guys about their broken economic model, but they have too much momentum to change.     

They plan to try and then fix it if it fails. It will.

Hopefully they can recognize it and fix it ASAP, but that will set them back on schedule.   

Our strength of being willing to admit our designs are flawed is that our schedule slips. Others rush ahead with flawed (significantly so) systems.  We are the turtle they are the hare. We will win in the end with steady improvement and open minds  that are willing to adjust course. 

Maidsafe has great software and I want them to be successful.  In time we will be integrating keyhotee with them.  We just need to help them fix the economic model. 



Sent from my iPhone using Tapatalk

is bytemaster a prophet ?

Quote from: toast on April 22, 2014, 02:55:02 PM

Quote from: bytemaster on April 22, 2014, 12:46:08 PM
The maidsafe guys are well intentioned and admit the economic ignorance.   We will probably have to work with them to bailout their IPO and I have some ideas on that front.   

bitshares to the rescue!

:)

Quote from: bytemaster on April 22, 2014, 12:46:08 PM
The maidsafe guys are well intentioned and admit the economic ignorance.   We will probably have to work with them to bailout their IPO and I have some ideas on that front.   

bitshares to the rescue!

Quote from: bytemaster on April 22, 2014, 12:46:08 PM

The maidsafe guys are well intentioned and admit the economic ignorance.   We will probably have to work with them to bailout their IPO and I have some ideas on that front.   

Do what Google does and buy innovative start ups with potential.

Quote from: luckybit on April 22, 2014, 02:22:40 PM
An easy solution could be to simply reduce all advantages that were given to Mastercoin buyers so that Mastercoin buyers are on an even playing field. Unfortunately that is not likely to happen even if one guy bought all the Safecoins with his stash of Mastercoins.

QuoteMaybe the best would be to return all coins to their respective
sender addresses (both BTC and MSC).

Post a big apology for not knowing how cryptocurrency scene works,
and restart this process in next week.

This is the best solution. Just reset it and remove the Mastercoin advantages.

Don't forget that a lot of people are allready fu$#@ up buying  mastercoins at prices near 0.17 BTC... How will they fix that? They shouldn't at least hide the mastercoin address after 1 hour the fundraising begun... so they could buy maidsafe/safecoins with .30 advantage over BTC funders and not loose half of their money because they could not use the MSCs any more because some smartass concluded to change the rules over night.

An easy solution could be to simply reduce all advantages that were given to Mastercoin buyers so that Mastercoin buyers are on an even playing field. Unfortunately that is not likely to happen even if one guy bought all the Safecoins with his stash of Mastercoins.

QuoteMaybe the best would be to return all coins to their respective
sender addresses (both BTC and MSC).

Post a big apology for not knowing how cryptocurrency scene works,
and restart this process in next week.

This is the best solution. Just reset it and remove the Mastercoin advantages.