Author Topic: What bitshares should learn from steem  (Read 4609 times)

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Offline Shentist

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What bitshares should learn from steem
« on: July 10, 2016, 05:43:45 am »
As many people can see on coinmarketcap steem is valued 53 million dollar

this is amazing....

how do we get bitshares to this point, what should we learn??

keep as many shares from the exchanges, so that the demand always exceed the offers

- on bittrex https://bittrex.com/Market/Index?MarketName=BTC-STEEM only 38.000 steem can be bought, so you need just 40 Bitcoin to double
steems value again. with this market structure steem will get to 1 billion in just a couple of weeks.

so we need to create something to lockup 95% of bitshares for 2 years and we will get all rich. Think about it. This is much easier as we might think
it will be.

Offline btswildpig

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Re: What bitshares should learn from steem
« Reply #1 on: July 10, 2016, 06:00:45 am »
you could've learn that from any 90% premined coin

and two . lock in is not enough .

you have to make 90% of the coin owned by a few people in order to make this scheme work .

The BM i know two years ago would write an article on how sketchy STEEM really is .

Not now .
« Last Edit: July 10, 2016, 06:06:52 am by btswildpig »
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Offline fav

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Re: What bitshares should learn from steem
« Reply #2 on: July 10, 2016, 09:00:19 am »
you could've learn that from any 90% premined coin

and two . lock in is not enough .

you have to make 90% of the coin owned by a few people in order to make this scheme work .

The BM i know two years ago would write an article on how sketchy STEEM really is .

Not now .

if you can't beat 'em join 'em. not even mad about his decision, tools throwing millions at dumb ICO's and whatnot - I'd take my sweet share as well

Offline yvv

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Re: What bitshares should learn from steem
« Reply #3 on: July 10, 2016, 01:04:08 pm »
Thinking that artificially pumping  price of pre-mined token by locking it for two years makes you rich is a delusion.

Offline lil_jay890

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Re: What bitshares should learn from steem
« Reply #4 on: July 10, 2016, 04:01:38 pm »
When Steem was announced, Dan talked about how this was the plan.

Super big, yet artificial, price pump to get eyeballs.  I still don't think it is as high as he thought it should get.  It's still moving up and my guess are people are going to jump on the FOMO train.

You can see that it is still in a downtrend when priced in BTC.  It shows how market cap on CMC can be manipulated via inflation and illiquidity.


Offline 麥可貓

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Re: What bitshares should learn from steem
« Reply #5 on: July 10, 2016, 04:13:57 pm »
Bitshares had its prime time too. As I can recall, it passed ripple and became the no.2 highest market cap. To take a long story short, what happened then caused bitshares fell to the market cap of today. I couldn't tell if the same thing will happen to steem, but I strongly feel that we should keep going on the current route, and make bitshares more appealing in more practical use cases, and never look back.
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Offline pc

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Re: What bitshares should learn from steem
« Reply #6 on: July 10, 2016, 08:15:02 pm »
Thinking that artificially pumping  price of pre-mined token by locking it for two years makes you rich is a delusion.
+1
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Offline dannotestein

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Re: What bitshares should learn from steem
« Reply #7 on: July 10, 2016, 09:11:15 pm »
Bitshares had its prime time too. As I can recall, it passed ripple and became the no.2 highest market cap. To take a long story short, what happened then caused bitshares fell to the market cap of today. I couldn't tell if the same thing will happen to steem, but I strongly feel that we should keep going on the current route, and make bitshares more appealing in more practical use cases, and never look back.

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Offline bitAndy

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Re: What bitshares should learn from steem
« Reply #8 on: July 10, 2016, 11:21:20 pm »
Realistically how many crypto-currencies deserve the market cap they have based on utility? Bitcoin is the only one I think can possibly make that claim. I'm here for the long haul; I think the potential benefit bitshares can have on the world is worth the grind to the top. We just need to keep improving and maintain a positive community spirit.

Offline BunkerChainLabs-DataSecurityNode

Re: What bitshares should learn from steem
« Reply #9 on: July 11, 2016, 02:34:00 am »
Bitshares had its prime time too. As I can recall, it passed ripple and became the no.2 highest market cap. To take a long story short, what happened then caused bitshares fell to the market cap of today. I couldn't tell if the same thing will happen to steem, but I strongly feel that we should keep going on the current route, and make bitshares more appealing in more practical use cases, and never look back.

Well stated. I don't think we are going to see real success from market manipulations. Utility and adoption are what have kept Bitcoin in the lead even with all its problems. Tipping point is coming. I honestly don't know if it will ever really make a difference in the way our market cap goes, but at the end of the day there is just one number that really matters... users.
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Offline mike623317

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Re: What bitshares should learn from steem
« Reply #10 on: July 11, 2016, 04:22:42 am »
Bitshares had its prime time too. As I can recall, it passed ripple and became the no.2 highest market cap. To take a long story short, what happened then caused bitshares fell to the market cap of today. I couldn't tell if the same thing will happen to steem, but I strongly feel that we should keep going on the current route, and make bitshares more appealing in more practical use cases, and never look back.

Well stated. I don't think we are going to see real success from market manipulations. Utility and adoption are what have kept Bitcoin in the lead even with all its problems. Tipping point is coming. I honestly don't know if it will ever really make a difference in the way our market cap goes, but at the end of the day there is just one number that really matters... users.

THIS ^^^

Offline fuzzy

Re: What bitshares should learn from steem
« Reply #11 on: July 11, 2016, 05:08:56 am »
Bitshares had its prime time too. As I can recall, it passed ripple and became the no.2 highest market cap. To take a long story short, what happened then caused bitshares fell to the market cap of today. I couldn't tell if the same thing will happen to steem, but I strongly feel that we should keep going on the current route, and make bitshares more appealing in more practical use cases, and never look back.

This is actually historically inaccurate.  Bitshares never made it past ripple because when we were approaching it, Ripple's leadership decided to release all the locked up Ripple held by the foundation to become part of ripples marketcap...manipulating coinmarketcap in such a way as to make them skyrocket in value...

From that day on bitshares never got close to #3 again.  If it had passed ripple, I suspect it would have garnered quite a bit of attention and likely would have had many more eyeballs on it as it was and still is in most ways superior to Ripple.

This is the reason why you will see the term "pulling a ripple" on these forums from time to time. :)

I say this because if circumstances were different and the ripple defensive maneuver hadn't occurred, we would be in a completely different ballpark most likely.  This is a pretty important circumstance to consider.  I only hope you guys all really consider joining and using steem...I don't want people left behind when they can earn (and maybe put earnings back into bitshares??).
« Last Edit: July 11, 2016, 05:11:01 am by fuzzy »
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Offline Erlich Bachman

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Re: What bitshares should learn from steem
« Reply #12 on: July 11, 2016, 06:43:36 am »
Bitshares had its prime time too. As I can recall, it passed ripple and became the no.2 highest market cap. To take a long story short, what happened then caused bitshares fell to the market cap of today. I couldn't tell if the same thing will happen to steem, but I strongly feel that we should keep going on the current route, and make bitshares more appealing in more practical use cases, and never look back.

Well stated. I don't think we are going to see real success from market manipulations. Utility and adoption are what have kept Bitcoin in the lead even with all its problems. Tipping point is coming. I honestly don't know if it will ever really make a difference in the way our market cap goes, but at the end of the day there is just one number that really matters... users.

Woah, now hold on there honcho.

I don't care how many users PeerPlays has or grows to.  The only number I care about is profits.

Show me a profitable coin that pays dividends, and then you will see why STEEM is rising (interest payments), and how to shift this Internet bubble into the next paradigm (one of profits).
« Last Edit: July 11, 2016, 06:45:49 am by Erlich Bachman »
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Offline Empirical1.2

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Re: What bitshares should learn from steem
« Reply #13 on: July 11, 2016, 11:14:06 am »
I haven't followed Steem, but there valuation is up & buy support is up.

This is the opposite of what I thought would happen when hundreds of thousands of dollars were made available for redemption on Jul 4th. So well done.

If one of the key USP's as Erlich says above is that they are offering interest payments (on Steem USD?)

Then this is something I've been advocating for BitUSD for ages and think it will be self-funding during the SmartCoin growth stage.
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Offline BunkerChainLabs-DataSecurityNode

Re: What bitshares should learn from steem
« Reply #14 on: July 11, 2016, 12:44:49 pm »
Bitshares had its prime time too. As I can recall, it passed ripple and became the no.2 highest market cap. To take a long story short, what happened then caused bitshares fell to the market cap of today. I couldn't tell if the same thing will happen to steem, but I strongly feel that we should keep going on the current route, and make bitshares more appealing in more practical use cases, and never look back.

Well stated. I don't think we are going to see real success from market manipulations. Utility and adoption are what have kept Bitcoin in the lead even with all its problems. Tipping point is coming. I honestly don't know if it will ever really make a difference in the way our market cap goes, but at the end of the day there is just one number that really matters... users.

Woah, now hold on there honcho.

I don't care how many users PeerPlays has or grows to.  The only number I care about is profits.

Show me a profitable coin that pays dividends, and then you will see why STEEM is rising (interest payments), and how to shift this Internet bubble into the next paradigm (one of profits).

Profits are just a derivative of users. Users = profits. With users, profits follow... depending on your model. In the STEEM model, I think it will be a bit different really. With users, profits will become more difficult. Now everyone is a big fish in a small pond.. once it grows to lots of fish in a big pond.. those payout rewards are going to get more difficult to garner. I am not sure when that will start to become apparent. The experiment calls for only the most exceptional content winning in the end... I think some will knock themselves out trying to crack that nut.

Peerplays on the other hand has a very understandable model, as does bitshares (if you really look).. more users = more profits.
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