Im new to bitshares but am very enthusiastic about its potential as well as the potential of subsequent DACs. I'd like to invest however Im uncertain about the relative development stages of bitshares and its future competitors mastercoin and nxt. I particularly like the transparency of this company in comparison to the development of the other teams. I think that the idea of limiting 16 assets to a block makes bitshares more scalable than mastercoin which might be trying to do to much with the bit coin blockchain itself. It is also a good selling point for investors in pts and ags because they get a stake in each block chain. So im pretty much sold on bitshares over mastercoin, although i do like the idea of overlaying protocols in the same way as the internet. But im not entirely sure how nxt and bitshares differ. Nxt seems to provide the same services as invictus. Since i don't fully understand the technical aspects of transparent forging i am convinced that its either a great innovation that helps with scalability or its an equally great flaw the threatens the security of the block chain. Mr. Larimer, I know that you have said that you do not want to provide estimates on the timeframe of development but could you at all speculate on your companies relative stage of development when compared to your competitors. Additionally, I would like some clarity on the networks ability to store value, the fundamental problem with bitcoin. If i have read correctly, in order to lend bitassets into existence the client must have twice as much collateral in bitshares. If that is the case, ones money only gains half the stability of whatever their preferred assets might be while still maintaining half the volatility of bitshares. I imagine that bitshares could be more stable than bitcoin but its price is still a rather unpredictable variable. If i have indeed misunderstood and the collateral is only held for short positions then how can you guarantee that each long is paired to a short as i believe i have seen you state? Lastly this might be a stupid idea but in order to facilitate the adoption of bitshares is it possible to distinguish each new node so as to allocate bitshares amongst new users. I understand that you have switched to proof of stake and do not want to dilute ags and pts holders stake in the DAC but for the purposes of adoption, particularly because of the difficulty in acquiring bitcoin
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Welcome to our forum. I post daily updates in this thread regarding the status of our development. I am glad you already see the scalability issues of everyone else attempting to do everything in a single chain. My sources tell me that Nxt is starting to encourage clones like we will.
Here is my analysis of Nxt's proof-of-stake system.... it is very good, perhaps the best of all 'mining' coins. Despite being proof-of-stake, Nxt still uses mining to decide who produces blocks and pays transaction fees to the miners. As far as I can tell, only Ripple and BitShares pay dividends to 'shareholders' where as everyone else either dilutes share holders or pays 100% of revenue to miners.
I consider Ripple style consensus to be superior to Nxt's approach for any blockchain that implements markets. The reason for this is that mining centralizes control of block contents one block at a time and in the case of Nxt... that miner has a high probability of knowing when they will get to select transactions and thus they can gain a market advantage. There is also block propagation delay.
Nxt assets are more like colored coins than decentralized market-pegged digital assets.
If I were a betting man I would consider myself more of the Steve Jobs of the Crypto industry with a strong sense of the importance of ease of use and Brian Page will probably become know as one of the leading marketers in the Bitcoin space as his work bears fruit over the course of the next several months.
Your understanding of BitAssets and how their peg works is incomplete, but there are other threads in this forum that will answer your questions. Effectively, if my understanding of economics is correct, BitUSD will fluctuate between +/-5% of the USD price depending upon relative flow into and out of the network. Much more stable than you believe.
As for our current development status, I would wager that we will have a minimal viable product out on the market prior to Mastercoin, Ethereum. Our products are different in function than Nxt and others and thus these other coins do not provide the same service and utility. In other words, they are selling cars and we are selling trucks.... while they both provide transportation they serve different markets. I think our market is bigger
One major difference between us and the competition is that we have a half dozen different DAC models and more on our roadmap. Investing in AGS or PTS gives you so many ways to pivot where as investing in the competition gives you much less diversity.
Compared to the competition I believe we are currently the 2nd best capitalized (Mastercoin has more money due to getting their BTC prior to the 10x gain)... but with AGS I expect that we will excede Mastercoin's funding level before the Beyond Bitcoin Conference we are putting on in July.
No one else is doing dividends but Invictus and dividends will make all the difference in the years ahead.
Topic: BitShares X Status Update (Read 318165 times)
