Why BitShares isn't Taking off and What we are doing about it.

[BTSdac]

basically the devs are giving up?

I only try to figure out the "reason" for their posts lol

i think they are developing as usually

[joereform]

I appreciate that bytemaster is acknowledging the problem of customer attraction and trying to find a solution to it. As a true believer in BitShares and the solutions it aims to provide, I share the frustration of others who see the twofold problem: a lack of a stable client and the dearth of effective marketing.

First, the client needs to be fixed. Yes, it is a pre-1.0 product, but so is Bitcoin-Qt, and we do not hear nearly the same level of complaint regarding that product. I cannot be the only one who has frequent trouble getting a connection to the BitShares network on the GUI client even to transact business on the exchange. I am not a programmer; I would not know the first thing about how to get into the code and work out all of the bugs. I just know it needs to be done if we are going to expect people to trust the network.

Secondly, making price feed publishing a built-in aspect of the delegate client would be ideal. Yes, BTS holders can vote against those who do not publish feeds; but I will admit that, as a novice about what goes on under the hood, I have no idea even how to determine who is publishing and who isn't. How would a complete novice be able to rely on the market pegs holding on their BitAssets?

Lastly, as someone mentioned in this thread, what I see overall is a lack of promotion and a lack of focus. I read and listen to a lot of the crypto news sources out there. I cannot even remember the last time I heard something from the BitShares team that wasn't internal (e.g. the Mumble chats). Preaching to the choir isn't going to build this DAC. And, while incentivizing word-of-mouth is not a bad thing in itself, there are a host of ways to get the message of BitShares out there, not only to the current crypto community, but to the larger population on the fringes of Bitcoin, etc.

Why aren't BitUSD and BitEUR and BitCNY being promoted as stable crypto alternatives to a volatile bitcoin? Merchants who refuse to accept bitcoin because of the perceived threat of loss of value could accept fiat-pegged BitAssets without having to resort to Coinbase or Bitpay to "lock in" the value of their revenue. I have not heard a single person connected with BitShares promote BitAssets in this manner, and I am actively looking for such promotion.

Why isn't TITAN being promoted as a solution to the privacy issues connected to the Bitcoin blockchain? Not only does it assure greater anonymity of transactions, but also it completely gets rid of the need for long, arcane addresses and QR codes. This should be a slam-dunk for those new to crypto, but they are not getting the message.

Using the BitShares blockchain as a real, interest-bearing savings account is another draw for those who may have no interest in the exchange per se. With fiat gateways in place, or even through projects like Shapeshift or Moonstone, people can convert their savings into BitUSD and earn a stable rate of interest while still keeping them quite liquid.

In short, there are several use cases for those who may never be interested in purchasing a single BTS ever, and why should they? Let those of us who are interested in being market makers and shareholders in the DAC do that, and promote the DAC also to those who will drive up demand for the BitAssets but who have no interest in actively trading.

I firmly believe that the BitShares DAC is an idea with qualities far superior to many of the other projects out there, and qualities that make it easier for BitShares to gain followers who have no interest in blockchains or SHA-256 or confirmation times or QR codes. But having a superior idea without proper dissemination of it may make BitShares the Betamax of the crypto world. The value of BTS is plummeting; the available amount of BitUSD is approximately 80% of what it was just last week. We all have to think both inside and outside of the current cryptocurrency box (like Peertracks seems to be doing, to their credit) if this project is to be here for the long run.

[Marky0001]

basically the devs are giving up?

I only try to figure out the "reason" for their posts lol

[BTSdac]

     $100 per user ,  , it is really to cost to us now , if you get 1000 user it cost  $100K, I think if you now use $100K  buy bts ,it maybe attract more than 1000user
if you use $1M to buy bts at this price ,it can attract  10,000 user.
so give up discuss our system is profit or not , it just a system ,you can create you own asset and can transfer to anybody in the world in 10 second.   it is funny.
we have a bitusd ,it is magical， it is not only stabilize with price ,but also cannot been control by anyone.

[BTSdac]

Hi BM, Actually I am very fear that  you have new idea in this forum ,
I don`t know if you are know it.
do you think if we  should produce a best product or just do new product?. do you think the client of bts is well enough?
I don`t want to any change about bts with stake， if there have ? no one can help bts that would make everybody lost money ,include me . we also don`t know how to face that situation.
pls give up the idea ?  one user cost how much ? $100? 20$?, it  isn`t  smart idea.    bts must prove  itself useful to user. you know the key is easy to use. there is not
mobile app and easy use client ,after it is available ,you  can discuss the new idea. 
give up traditional  way to get user ,  it is cost. 
we can use our asset to get user ,  we can send some funny asset to the people who like it .

[bluebit]

Focus on BitUSD and other currencies/assets. I want it to be easier to put my money in BitUSD or BitGLD and just hold. What I want is a iPhone wallet, where I can send my Bitcoins and inside of the wallet, trade my Bitcoins for BitUSD with two options, automatically with METAEXCHANGE, or with people online or nearby. That way you are creating your own on-ramps. Say I'm in USA and I need USD, I search for users nearby, then I contact one asking to trade them in BitUSD or Bitcoin or whatever asset they want. I get my USD and they get their Bitasset. IS THAT TOO HARD? All you need is to make a iPhone and Android wallet app with this capability. I've going to  my own post.

[donkeypong]

Please consider adding the ability for the referrer to give a portion of his transaction earnings to his referees. Add this because it allows referrers to incentivize potential users to sign up with the referrer's code/link.

"Sign up with my link and get 2% off transaction fees for life". 

This is like the "trade spend" concept we see in CPG businesses.

Interesting ideas.

The incentive structure needs to reward people on multiple levels. There are some companies with such strong sales structures that they barely need a product. Amway and MLM marketing get a lot of flack as pyramids, but Fortune 1000 companies basically use similar sorts of design for their sales structures. Providing some (sustainable and not too greedy) form of multi-level incentives would make this absolutely rock. Considering the advantages of this product, if you design this structure well, it could help drive this thing to the moon.

BitShares would be able to leverage the hard work and ad dollars of marketing folks, who would invest these up front with the hope of later returns. And that could help provide the kick we need. Longer term, salespeople would join delegates and vendors and contractors as additional career (and part-time income) opportunities spawned by the blockchain.

[sittingduck]

Bitcoin has the same problem


Sent from my iPhone using Tapatalk

[werneo]

I question the premise of the OP.

BitShares cannot "take off" while bitcoin and the rest of crypto are in a bear market.

It's useful to look at the 1-day view of this chart: https://bitcoinwisdom.com/markets/bitfinex/btcusd
BTS went active last summer, while BTC was in a bear phase that began in December 2013. The only reason I could buy AGS and PTS in the first place was because my BTS investment had increased by multiple times. After the BTC run up in 2013, it made perfect sense to diversify into the best crypto 2.0 projects. But Bitcoin is the Rosetta stone of this new industry. Bitshares is one floor down in a bitcoin edifice.

It doesn't make much sense to talk about a BTS "take off" while BTC is in an epic bear mode.

The fortunes of BTS is tied to the price of BTC. That is the Occam's Razor solution for why Bitshares is not "taking off" and why there is nothing you can do about it.

[Shentist]

Interesting ideas.

Thanks. Please also consider pooling a portion of the DAC's earned transaction fees to offer bonus contracts between the DAC and the referrer.

For example:

     1. If you earn 50,000 BTS in transaction fees for the DAC, the DAC will send you an additional 5,000 BTS

     2. If you are a top 10 referrer for the DAC, you will receive a portion of the annual "smart bonus pool".
          The 1st top referrer earns 42% of the bonus pool.  20% for 2nd, 10% for 3rd, 3% for 4th through 10th.

These would be equivalent to bonuses for salespeople at a tech startup, or growth program contracts between manufacturers and distributors.

Good idea!

We could also add delegate payments to it, if we elect some and they are contributing to this.

[Globally Distributed]

Interesting ideas.

Thanks. Please also consider pooling a portion of the DAC's earned transaction fees to offer bonus contracts between the DAC and the referrer.

For example:

     1. If you earn 50,000 BTS in transaction fees for the DAC, the DAC will send you an additional 5,000 BTS

     2. If you are a top 10 referrer for the DAC, you will receive a portion of the annual "smart bonus pool".
          The 1st top referrer earns 42% of the bonus pool.  20% for 2nd, 10% for 3rd, 3% for 4th through 10th.

These would be equivalent to bonuses for salespeople at a tech startup, or growth program contracts between manufacturers and distributors.

[rb2]

IMO there is only one way out of this situation: deliver a usable product and user experience. It won't be an easy path to go, but it is the only sustainable solution. If we succeed to do that we can start promoting our product.

So true. Focus on a usable client is key, but even though that point has been raised for months, it doesnt seem the devs agree, as illustrated by OP.

[infovortice2013]

Yeah, thats right the bicicle skeleton was 1 year ago,,,, now i can see supersonic concorde skeleton without motors inside the angar working in luxury interior .,.. and this concorde is capable to fly over the light or darkness. ITS AMAZING !!!

Sure we are all not coding, we arent living this in Virginia with team, all of us valid people but cant apport nothing to acelerate this work, instead we can spread the word, with passion thats good, to everybody you met or know, but great pivoting that take us at this point, maybe hurt our word value, and at same time make us be more moderated spreading it... hey its normal we are carefull until v 1.0 its done because we take damages. not just in our credibility also economic, but this economics what you hope¿? we are financiating the building one of the big proyects arround the world, its lot of greedy in crypto world here too, BTS some whales, some delegates, yeah focking trolls, i BELIVE THE FIRST PUSH UP PRICE WAS FOR MILION or MILIONS dolars euros yuans GOLD or whatever.

You whale trolls not mind to fock comunity throwing down the price to win a few thousands, and in few days you loose the train. Will be beautifull.

Some times start to think some delegates not finish his started jobs to keep taking payment..... instead they throwaway his payment because hey later we can buy more ... hope im wrong

You know how much spent Banksters in obsolete XP for his ATM net? you know how much fraud, thieves and indemnizations are over the debit cards, stealing info while buying by internet, cloning your card when pay in a shop restaurant or wherever, ect... Are you crazy enought for not see they need BitShares DAC almost for this mission, yeah maybe one DAC per Bank.

or Oil comodities market ... bilions there moved all days

reimagine everything, come here and write it !!!

In other hand actual prices can be percibed like a punishment, or you can take it like a gift or unique opportunity , personally i belive its this, im trying to sell some stuff to buy more BTS, this team have my confidence since day one. haha yeah maybe is better have thousand dolar than confidence or trust, but i put all i have and some i not have 

just need to see lot of teams and whales try to copy-clone part by part our sistem ... nobody of them can copy 2 thing like us in same proyect, just part by part separate. dark with instant anonimous transactions, nubits with the peg, next for the exchange,or this nasty milionarie centralizing and privaticing bitreserve, sure i forgot more ,,, but easy you can see now THE POWER WE HAVE inside the hangar.

[bytemaster]

Please consider adding the ability for the referrer to give a portion of his transaction earnings to his referees. Add this because it allows referrers to incentivize potential users to sign up with the referrer's code/link.

"Sign up with my link and get 2% off transaction fees for life". 

This is like the "trade spend" concept we see in CPG businesses.

Interesting ideas.

[fav]

We have a well thought out referral program that will be game changing and that cannot be gamed.  I would like to thank Max for inspiring our solution the details of which will come out as part of a new white paper.     We will be increasing transaction fees, offering bulk discounts, and overall creating a system that will highly reward businesses and merchants that bring us customers.