Author Topic: In preparations for the "big" announcement  (Read 14139 times)

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Offline toast

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and by the way I have also another concern..

When will the expired short orders will be filled and the BTS collateral will be released? Are these filled in order of expiry when someone is buying Bitusd at price feed? Does this mean that in order for all the expired orders to release collateral bitusd should fall below usd? What happens if bitusd never falls below usd because of small orders above the bitusd usd peg? Will the collateral from the expired orders remain blocked forever? Can I cover my self one of my expired order somehow?
You should be able to manually cover expired orders with no regard to other bids on the market
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Offline inarizushi

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and by the way I have also another concern..

When will the expired short orders will be filled and the BTS collateral will be released? Are these filled in order of expiry when someone is buying Bitusd at price feed? Does this mean that in order for all the expired orders to release collateral bitusd should fall below usd? What happens if bitusd never falls below usd because of small orders above the bitusd usd peg? Will the collateral from the expired orders remain blocked forever? Can I cover my self one of my expired order somehow?

Same concern here.

I like most new ideas from bytemaster, but it always feel like the dev team doesn't care to be just to people who have invested their energy in the current state of the system. Shorters have suffered immensely, and now bitAssets 1.0 will have to be abandoned...
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Offline Ben Mason

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Perhaps the biggest news has already been released. The devs have produced 17000 lines of code according to Bytemaster. Isn't that the best thing we could hear, the best hope for the software and most powerful indication of commitment to this project?  As to the quality, surely we are all here because we believe the devs are supremely capable.  I'll be happy if the software has improved in multiple areas (many of which have been discussed) and is still leading the market in innovation.

My biggest concern is that we do not forget the nature of our investment and due to impatience, form unreasonable expectations that the 'price' will suddenly jump massively upwards. The amount of work is what we should value and the quality of it once implemented..  Some may think that is naive but I think it's the only way to support the devs and get to where the software needs to be. Work first, price later.
« Last Edit: May 17, 2015, 08:50:52 pm by Ben Mason »

Offline triox

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@triox: please read the OP again. Your post kind of doesn't fit here ..

You're right. I wasn't directing it specifically at you or people responding here, but this thread seems like a good place to try to dispel those myths about 'secret sauce' or 'banking partners' that many in this forum are so desperately clinging for. It's the result of lack of clear dev communication on one hand and vague, confusing bs from SL on the other.

Offline mf-tzo

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and by the way I have also another concern..

When will the expired short orders will be filled and the BTS collateral will be released? Are these filled in order of expiry when someone is buying Bitusd at price feed? Does this mean that in order for all the expired orders to release collateral bitusd should fall below usd? What happens if bitusd never falls below usd because of small orders above the bitusd usd peg? Will the collateral from the expired orders remain blocked forever? Can I cover my self one of my expired order somehow?

Offline mf-tzo

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As much as I want to believe that devs don't have money to buy BTS because they made losses from BTS price fall I find this hard to believe .Someone is buying and someone is selling. Someone makes profits and someone makes losses. It can't be that everybody makes losses. Some people made a lot of money from BTS. I think that people who follow all the technical development of BTS can see in front of others of what is coming so they can't make losses especially in such an iliquid market such as BTS. So if you guys want BTS not to die completely, these people better leave their greadyness and start rebuying some BTS and pumping the price in millions daily volumes so new and current investors can regain some confidence..

Sorry for the frustrating and nonconstructive post. I am just very saaadd about BTS market cap...

Offline cass

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Quote
2) Since we expect some great news, "epic news", where is the buying volume? Why no one is buying and more specifically, why the devs who are so excited about BTS and about what is coming why they don't buy like crazy now? Where are the millions daily volumes we had when everyone was so excited about BTS?

Because they don't have any money to buy into more ... ^^
(They made also losses due the BTS fall etc)
</wildguess>

Quote
3) Should we expect a fast, professional GUI experience within this year

i'm really confident about to reach this goal :)

« Last Edit: May 17, 2015, 04:27:58 pm by cass »
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Offline xiahui135

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Why we have this many huge changes in bts?
Why there are so many announcement?

We are building a platform, we should be stable, so others can do something on it.

Offline mf-tzo

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It has always been my impression and I think it has been communicated like this from the beginning that bitshares will do for business what bitcoin did for money. Many have come and many have left..I am still here. I am not a big shareholder though and I only hope to profit by holding something valuable like BTS.

So far, I have been buying BTS at all prices, shorting bitassets, Holding BTS..So far I lost ALL my profits from the last 2 years successful trading with bitcoin and all other altcoins craps and now I am at losses since I only hold BTS.

So my 3 concerns are:

1) Holding BTS and shorting Bitassets will have a consequence of those who believed in BTS lose everything and holding the bag? The current system apparently was designed to make profits to those that sold their BTS for bitassets when BTS was pumped. Is this the plan?

2) Since we expect some great news, "epic news", where is the buying volume? Why no one is buying and more specifically, why the devs who are so excited about BTS and about what is coming why they don't buy like crazy now? Where are the millions daily volumes we had when everyone was so excited about BTS?

3) Should we expect a fast, professional GUI experience within this year?


Offline Thom

There are a few good questions and concerns expressed so far in this thread.  +5% to the OP for his anticipatory thinking about the community reactions when the upcoming announcement is made.

My chief concern is and always will be how well is BitShares sticking to the fundamental principles that brought me and many others to this ecosystem.

If that fades then so will my support. BM said much in last Friday's mumble to assure me he is committed to those principles, to further the cause of non-violent financial freedom and provide an alternative to the mainstream financial oligarchy. Is he just playing the role of a politician and will change his mind and bend to the pressure to make money and capture that elusive network effect? I still believe BM has more integrity than that and he will not acquiesce to KYC & AML pressures --to the extent they would affect all BTS shareholders--

I recognize it's a very difficult thing to determine the correct balance and create an ecosystem that pleases the two widely divergent perspectives of those that want to embrace the existing mainstream financial world and the silk road types that embrace total freedom through voluntary interaction.

What greatly puzzles me is why so few people realize why bitcoin, BitShares and cryptocurrency in general exists in the first place and how reaching out to gain mainstream approval / adoption is so contrary to what gave birth to it. It is like saying, "Dang, looks like it's gonna be real difficult to build an alternate ecosystem to further the cause of freedom, so fuck that we're about to die! Lets ask for help to morph what we have built into something familiar to the masses and after we become successful we'll return to the original goals".

I just don't get why people want more of the same things in BitShares that already exist in the mainstream, things which are proven to be more centralized, manipulated, corruptible and wealth sucking. If you want those things go back to the mainstream financial world! BitShares stands for something radically different. That may only draw a small minority of supporters initially, the growth of the ecosystem will not be meteoric, profits on speculative trades may be much less lucrative, but if we can weather the economic storm the entrenched financial powers that shouldn't be are imposing on us, we will slowly win the hearts and minds of more and more people and become a powerful example of the true free market that has never before existed on a global scale to empower the 6+ billion individuals to reach their greatest potential.

[ / philosophical rant off ]

My primary technical concern is whether all of the sweeping changes will be perceived as overall positive or net negative by the community. It all hinges on the User eXperience. I am very uneasy about this. The team has not demonstrated the innovation and rate of improvement of frontend (UI) development compared with that of the infrastructure / backend. It clearly isn't where their passion lives. However, BM is heading up an exceptional team, and he realizes the importance and difficulty of creating a solid, positive UX. Will he be able to  manage and guide his team to produce a quality software product that the market wants? Will support be a killer after it's released (i.e. bugs)? Will he be able to acquire the necessary skills in UI / UX to pull this off? Will it take much longer than anticipated, causing loss of confidence if the "big release" doesn't happen until July or possibly even August?


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Offline xeroc

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@triox: please read the OP again. Your post kind of doesn't fit here ..

Else I agree, except that we only know what BM wants us to know .. and he learn the consequences if leaking information the hard way already .. so i'd say: relax and stay excited

Offline triox

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I think this community is setting themselves for a great disappointment if you continue to desperately cling to the hope of some big big/surprise announcements.

If you read the forum and listen to mumble sessions, probably everything has already been leaked by DL/SL in an attempt to stop the price tanking.

  • reworking of the database backend for faster scanning and syncing
  • reworking backend-frontend communication for faster, less buggy user interface
  • Bitassets 2.0 and privatized bitassets
  • splitting delegate roles
  • Customizable blockchain parameters without hard forks
  • Built-in referral program
  • Documentation

What more do you want? If you're praying for a partnership with Goldman Sachs, BM has said multiple times that Bitshares integration can only be viable for small startups that are looking for an edge. I believe the most we can hope for at this point is integrating with some mid-size Bitcoin-oriented business. Bitstamp at most.

Still, if you're reading all this and it's not enough to be excited than you better dump your shares now and spare us the inevitable whining.

Offline carpet ride

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Is there a plan for reaching out to the fintech startups of the world?  There has been $13.4bn of investment over the last yr to these startups that are hungry for a competitive edge like BitShares.

What is the plan for reaching consumers as the uber of banking?

Edit: I listened to the 5/15/2015 mumble and that answered these questions.

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« Last Edit: May 17, 2015, 12:58:08 pm by Carpet Ride »
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Offline starspirit

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Strategic:
What's the core product?
How do we profit from it?

Offline speedy

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Here is my biggest concern: Is the upcoming announcement just more technical improvements/features (however great they are), or will there be any big exchanges/banks who issue their assets on the BitShares blockchain?

Our technical features could be so clever that they pass the Turing test, and still most Bitcoiners wouldnt care because to them we are still just an altcoin. They can ignore us because our assets arent integrated into any big money, unlike Ripple.