$210 Million Transacted on Bitreserve...

[topcandle]

We're in alpha going into beta with 2.0: Our fundamentals are great and the community is good, but everything else is mediocre or worse. With 2.0 and the referral program we should see a shift towards marketing, ease of use and documentation. But this is just as costly as core development, so either some of the front-end entrepreneurs around here manage to raise some serious funds (millions), or we need a cryptobull season making us rich enough to fund the required marketing/branding/design. Since we can neither rely on a cryptobull season, nor voters having the courage to pay for marketing/branding/design, we must pray that some genius front end entrepreneurs manage to raise the money required to make BitShares mainstream. Fortunately, this can come about by several avenues, either Cryptonomex or one of the BitShares network partners like MoonStone, CCEDK, BunkerShares or BANX (who all earn via referral fees, making them 80% owners of the network), or via independent chain licensing partners such as PeerTracks and Identabit (who all earn via share-appreciation of their respective chains).

Excellently summarized.

Why not take VC money? It's certainly possible to do equity crowd funding now so when the Bitshares 2.0 platform is released a lot of Bitshares companies can start on the Bitshares platform itself, offer stock options or equity crowd fund through Bitshares 2.0, and then ask for VC money.

Bitshares has yet to deliver.  Nobody can talk about doing anything until if Bitshares 2.0 is delivered.  Everything could end tomorrow and the dev team could walk away. 

[luckybit]

We're in alpha going into beta with 2.0: Our fundamentals are great and the community is good, but everything else is mediocre or worse. With 2.0 and the referral program we should see a shift towards marketing, ease of use and documentation. But this is just as costly as core development, so either some of the front-end entrepreneurs around here manage to raise some serious funds (millions), or we need a cryptobull season making us rich enough to fund the required marketing/branding/design. Since we can neither rely on a cryptobull season, nor voters having the courage to pay for marketing/branding/design, we must pray that some genius front end entrepreneurs manage to raise the money required to make BitShares mainstream. Fortunately, this can come about by several avenues, either Cryptonomex or one of the BitShares network partners like MoonStone, CCEDK, BunkerShares or BANX (who all earn via referral fees, making them 80% owners of the network), or via independent chain licensing partners such as PeerTracks and Identabit (who all earn via share-appreciation of their respective chains).

Excellently summarized.

Why not take VC money? It's certainly possible to do equity crowd funding now so when the Bitshares 2.0 platform is released a lot of Bitshares companies can start on the Bitshares platform itself, offer stock options or equity crowd fund through Bitshares 2.0, and then ask for VC money.

[luckybit]

This man have a folder full of bank customers, he is direct relaction to all elite mexico an international and his friends, he is much rich, and yeah he has finished the proyect and we already not. Considering all of this really can think has poor numbers.

Time for Bitshares to form relationships full of bank customers then. If Ripple and BitReserve can do it, why can't Bitshares? BitReserve isn't even as secure as Bitshares.

[cass]

We're in alpha going into beta with 2.0: Our fundamentals are great and the community is good, but everything else is mediocre or worse. With 2.0 and the referral program we should see a shift towards marketing, ease of use and documentation. But this is just as costly as core development, so either some of the front-end entrepreneurs around here manage to raise some serious funds (millions), or we need a cryptobull season making us rich enough to fund the required marketing/branding/design. Since we can neither rely on a cryptobull season, nor voters having the courage to pay for marketing/branding/design, we must pray that some genius front end entrepreneurs manage to raise the money required to make BitShares mainstream. Fortunately, this can come about by several avenues, either Cryptonomex or one of the BitShares network partners like MoonStone, CCEDK, BunkerShares or BANX (who all earn via referral fees, making them 80% owners of the network), or via independent chain licensing partners such as PeerTracks and Identabit (who all earn via share-appreciation of their respective chains).

Excellently summarized.

[infovortice2013]

This man have a folder full of bank customers, he is direct relaction to all elite mexico an international and his friends, he is much rich, and yeah he has finished the proyect and we already not. Considering all of this really can think has poor numbers.

[mike623317]

They are just a rehash of the centralized solutions that have been made in the past, they just added 'bit' to their name.  Its easier to do what has been done before.

Totally agree Ander. The reason  people use them though is the site is attractive, easy to use and it just works. That is where we fail. Our idea is better- agreed - but they have something out there that just works and hence they have volume.

[Ander]

They are just a rehash of the centralized solutions that have been made in the past, they just added 'bit' to their name.  Its easier to do what has been done before.

[mike623317]

1. Bitreserver have a slick and professional website
2. Its SUPER easy to by silver, gold or oil ect - literally 2 click
3. It just works- today
4. Look at their videos - very professional.

All that said, i think we have a better idea. By they have better execution as its out there ready, working and the average man in the street can use it. No need to explain it to them like their 5 years old.

[Ben Mason]

I've never liked bitreserve but I have to admit that this page is very impressive: https://bitreserve.org/en/status

If only there was actual proof included... OTOH if they were cooking the books a simple third party audit would be able to reveal it, and they probably get them regularly.

Corruption & time are inextricably linked, they may not be cooking the books atm but how long before bitreserve becomes fractionalbitreserve?  Perhaps we should ask if he'd like to put his transactions through Bitshares?

[nomoreheroes7]

Yea, it's pretty obvious that a huge amount of those numbers come from Halsey himself. Just a cheap tactic to make themselves look bigger than they are. Unfortunately it works.

[Empirical1.2]

I've never liked bitreserve but I have to admit that this page is very impressive: https://bitreserve.org/en/status

The numbers are good, I like their visual representations too https://changemoney.org/

OTOH if they were cooking the books a simple third party audit would be able to reveal it.

I'd be interested in a break down of wallets by size. I think the founder is independently wealthy so I wouldn't be surprised if the largest wallet was his own.

For example, they're described as the second largest crypto crowdfunded project behind Ethereum because they raised £6 million on Crowdcube for 10% equity. http://cointelegraph.com/news/113217/bitreserve-raises-us95-million-in-second-largest-crowdfunding-round-in-the-digital-currency-sector

However £5.8 million of that was contributed by one investor. So while the numbers looked good, only a few hundred thousand dollars of that total came from small investors and it wouldn't surprise me if this was more of the same.

 

[Rune]

I've never liked bitreserve but I have to admit that this page is very impressive: https://bitreserve.org/en/status

If only there was actual proof included... OTOH if they were cooking the books a simple third party audit would be able to reveal it, and they probably get them regularly.

[Empirical1.2]

While I take BitReserve numbers with a pinch of salt. Tether did $500k volume and NuBits $100k in a few hours in the small BTC downturn. I personally have fiat balances on multiple centralised exchanges at the moment. So there's definitely demand for a Crypto USD.

[Ben Mason]

We're in alpha going into beta with 2.0: Our fundamentals are great and the community is good, but everything else is mediocre or worse. With 2.0 and the referral program we should see a shift towards marketing, ease of use and documentation. But this is just as costly as core development, so either some of the front-end entrepreneurs around here manage to raise some serious funds (millions), or we need a cryptobull season making us rich enough to fund the required marketing/branding/design. Since we can neither rely on a cryptobull season, nor voters having the courage to pay for marketing/branding/design, we must pray that some genius front end entrepreneurs manage to raise the money required to make BitShares mainstream. Fortunately, this can come about by several avenues, either Cryptonomex or one of the BitShares network partners like MoonStone, CCEDK, BunkerShares or BANX (who all earn via referral fees, making them 80% owners of the network), or via independent chain licensing partners such as PeerTracks and Identabit (who all earn via share-appreciation of their respective chains).

Excellently summarized. 

[CLains]

We're in alpha going into beta with 2.0: Our fundamentals are great and the community is good, but everything else is mediocre or worse. With 2.0 and the referral program we should see a shift towards marketing, ease of use and documentation. But this is just as costly as core development, so either some of the front-end entrepreneurs around here manage to raise some serious funds (millions), or we need a cryptobull season making us rich enough to fund the required marketing/branding/design. Since we can neither rely on a cryptobull season, nor voters having the courage to pay for marketing/branding/design, we must pray that some genius front end entrepreneurs manage to raise the money required to make BitShares mainstream. Fortunately, this can come about by several avenues, either Cryptonomex or one of the BitShares network partners like MoonStone, CCEDK, BunkerShares or BANX (who all earn via referral fees, making them 80% owners of the network), or via independent chain licensing partners such as PeerTracks and Identabit (who all earn via share-appreciation of their respective chains).