Author Topic: Bitgold on coindesk but not our bitgold..  (Read 4326 times)

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Offline MrJeans

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How is this legacy system stuff making the news. Bitshares just revolutionized banking and the world is like: *meh, now about that fast horse you mentioned earlier.
I dont get it...

Offline liondani

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Is it a bad idea to have some 100% delegates that short our low liquidity bitassets with their funds?....

PS at least until we hit a specific market-cap on the particular bitAssets and then fire the delegates... can we discus that?

Some options along those lines are...

1. BitGold delegates who build up BitGold reserves. These can be later burnt so building up BitGold may come at very little cost. They can also be used at a later date to fund projects or act as insurance that we'll be able to pay developer salaries in the event BTS falls low.

2. BitGold delegates who short at a huge yield rate. What yield would make you hold BitGold just for a few months? I imagine with a few thousand dollars yield we can really get the CAP up. (I know this isn't sustainable it's just a promotion to kickstart them.)

Exactly that is my point!
Something identical is already be done with bitUSD and it worked!
We should do it for the other bitAssets as well!

I thing this specialized-delegates could short with interest rate of 5% ! 
It's not too much, but its  certainly enough to attract attention and is consistent with our  +5% meme   ;D

Offline Empirical1.1

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Is it a bad idea to have some 100% delegates that short our low liquidity bitassets with their funds?....

PS at least until we hit a specific market-cap on the particular bitAssets and then fire the delegates... can we discus that?

Some options along those lines are...

1. BitGold delegates who build up BitGold reserves. These can be later burnt so building up BitGold may come at very little cost. They can also be used at a later date to fund projects or act as insurance that we'll be able to pay developer salaries in the event BTS falls low.

2. BitGold delegates who short at a huge yield rate. What yield would make you hold BitGold just for a few months? I imagine with a few thousand dollars yield we can really get the CAP up. (I know this isn't sustainable it's just a promotion to kickstart them.)

Other creative option -

- BitGold Dice, even a bit more creative like WheelofDoge, this gets the turnover up and also the CAP. (The reason centralised dice sites can run with the money is that people tend to keep their winnings on the site to gamble later, similarly if you get people into BitGold, people will keep some of ther winnings there so it will build the BitGold CAP.)

https://bitcoinmagazine.com/17980/my-experience-on-wheel-of-doge/

If there was something similar maybe with a bit of a controversial/entertaining edge, it could get a lot of attention as well. (I.e On that wheel of fortune, a winning slice would have different images such as a Max Keiser Slice with a sound effect, whereas one of the losing slices might have a picture of Mark Karpeles etc.)

« Last Edit: January 29, 2015, 11:52:01 am by Empirical1.1 »

Offline liondani

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Is it a bad idea to have some 100% delegates that short our low liquidity bitassets with their funds?....

PS at least until we hit a specific market-cap on the particular bitAssets and then fire the delegates... can we discus that?
« Last Edit: January 29, 2015, 11:25:50 am by liondani »

Offline Empirical1.1

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We're still in the lead for what our product is, a decentralized way to store/hold the value of gold and other real world assets.

Though I expect them to easily get in the tens of millions of dollars in assets held, possibly even a hundred to two hundred, there's a ceiling on these centralized services that a decentralized solution will surpass.

We have less than three months though to come up with creative solutions for really kickstarting BitGold's use.

The fact that big money is getting into specifically this tells you a lot.

I'm in favour of BitShares having a website called something like 'SovereignVault', a front end that specifically tries to offer customers a decentralized gold solution vs. just the decentralized exchange. https://bitsharestalk.org/index.php?topic=13325.msg174295#msg174295
« Last Edit: January 29, 2015, 12:05:54 pm by Empirical1.1 »

sumantso

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Honestly, we should all register for the free $20.  (Use an email you already getting heavily spammed in).

Later we can all dump the $20 of their bitGold, and use it to buy BTS and then create $20 worth of our bitGold.


If a ton of us do this it might make a small impact.

There would be some kind of verification.

I doubt if some company just copy code of bitshares, and make it much easier to use, have more users and liquidity, they of course will let bitshares out the game. Bitshares just create innovation, others just use it. It has happened many times that winner is not who invent but who use it.

This is the likely scenario and going to happen. All we can hope is that they will sharedrop on us.

Offline bitAndy

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If they have an identification system for validating email addresses then my murrayrothbard@gmx.com I used to sign up with will be completely useless LOL

Unless one of you libertarian collectors out there have Rothbard's old driving licence sitting around...

Offline robrigo

There just going to give $20 away for free for each email account?

I just signed up with 3 email accounts I use...whats to stop anyone from creating 100+ accounts?

If we all used multiple accounts we could just sell off & get it right back into bitshares...

Sybil attack bitgold.  8)

In all likelihood it will require some level of identity verification, i.e. signing up for their service and linking your identity. We'll see though.

Offline bitAndy

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There just going to give $20 away for free for each email account?

I just signed up with 3 email accounts I use...whats to stop anyone from creating 100+ accounts?

If we all used multiple accounts we could just sell off & get it right back into bitshares...

Offline Helikopterben

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This is e-gold 2.0 1.0 all over again.  This model has been tried and failed.


Offline liondani

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history should give us the right lessons!

can you remember how MS-dos and Windows, even there was better operating systems at that time in existence, 
managed to get adopted from the masses?

Offline thistome

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Just submit a email, is it  enough?

Offline Empirical1.1

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I know it sounds bizarre but BitGold gambling is the highest probability shot our BitGold has.
At the moment there's no recreational BitAsset or even BTS utility. BitGold dice would be a fun way to help BitAssets whereas shorting to yourself and managing your short is not. The Bitcoin numbers are compelling. 50% of all BitCoin transactions & volume were gambling up till last year & new sites have tremendous MoM growth.

Our numbers also don't lie, low CAP, volume & growth on our BitSilver & Gold. I can't see anything else that could conceivably rapidly grow & bootstrap it first based on any information/technique I've seen used in the past.

(Obviously gateways are key as well as promoting the decentralized exchange but I don't feel it's going to have the same/rapid impact, which I know sounds weird as gambling is a marginal trivial activity not directly related to what you think would drive BitAssets.)
« Last Edit: January 29, 2015, 01:31:19 am by Empirical1.1 »

Offline xiahui135

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And it is dangerous to keep liquidity this low. Other currencies can make the same assets and even called the same name. If they have more users and liquidity, they win. People will know they first and bitshares later. And people will say bitshares copy the innovation idea though some small group of people know it not true.
I doubt if some company just copy code of bitshares, and make it much easier to use, have more users and liquidity, they of course will let bitshares out the game. Bitshares just create innovation, others just use it. It has happened many times that winner is not who invent but who use it.

Offline cass

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only number of users and liquidity
can make a asset currency, and this is why fiat be.
we just need more easy-use tools, and let people in via market promotion. I think making the tool good is the most important in the period.

agreed
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