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[sumantso]

I have a simple question (and it may sound stupid all those who understands better).

What I get (might be wrong) is BTSX/proposed DACs are NOT direct competitors to NXT, MSC, XCP etc. Since there is a lot of AGS funds lying around is it being considered to create a direct competitor to those? Maybe even let it ride on the PTS blockchain? It may not be considered 'viable DAC' (or is it?), but I would like to have a DEX and not struggle with the likes of Cryptsy. Currently, it seems we have to go through MSC/XCP/NXT to do that.

It would also help in all those PTS conversions. All the funds will be in my wallet, and once a trade happens only then it will move out. No more hassle of trying to withdraw before snapshot.

I don't want to be drawn into the debate of how to use the funds/shark tank/ bounties/ unavailable devs etc. Just want to know if it is being considered.

Bitshares X is a "decentralized bank and exchange." What do you mean direct competitor?

Well, I thought that in BTS X, you can only trade the 16 or so assets whose chains will be created. With the competitors apparently you can issue anything and trade. Atleast in counterparty you can bet, issue shares and dividends and stuff like that.

I may have completely misunderstood everything, though.

Anybody chip in with a comment? I want to know if I am wrong here.

[CLains]

What do you mean direct competitor?

in counterparty you can bet, issue shares and dividends and stuff like that.

Ah.. That makes sense.

[oco101]

How many developers  are working full times for 3I ?
Any new employees hire lately ? 
What exactly Arlen del Castillo is working on right know ?

[sumantso]

Bitshares X is a "decentralized bank and exchange." What do you mean direct competitor?

Well, I thought that in BTS X, you can only trade the 16 or so assets whose chains will be created. With the competitors apparently you can issue anything and trade. Atleast in counterparty you can bet, issue shares and dividends and stuff like that.

I may have completely misunderstood everything, though.

[toast]

Is there a plan for low resource req mobile versions of Keyhotee/Exchanges? To bring value equal to what Bitcoin has produced, Bitshares must provide similar positive value and lower the barriers to entry.  Mobile phones are far more prevalent in 2nd and 3rd world countries.  If Invictus focuses on this, they can help to avoid imperial entanglements (3rd world Govs will be impotent against this). 

I'm sure we will want to do so sooner or later, but we hope third parties will beat us to it.  (We hope third parties beat us to everything as long as they honor PTS and AGS holders which if the original developer doesn't, some forking entrepreneur probably will.) 

Why is invictus working on a UI for keyhotee ID when the blockchain and p2p daemon don't exist yet? Do you honestly expect people to use the QT client? You need to attract developers way way before you need to be worried about user-friendliness.

"We hope third parties will beat us to it" - Let them beat you to making a usable UI as well. Just do the hard parts, you don't need to pay quality C++ devs to be working on frontend which nobody will use when there are hordes of JS/HTML5 UI programmers who you can offload the easy parts onto.

edit: Not to mention every single other DAC is blocked on having founder ID registration sorted out

[Stan]

My answers are highlighted in bold.

Maybe getting back to some DAC brainstorming. I keep hearing about the DNS, Music, Bingo etc., but I was earlier under the impression this DAC/DAO business was going to be usable for a huge variety of concepts. I would like the brainpower at Invictus to help us form a laundry list of potential DAC/DAO ideas that developers and the community can look at for starting possibilities and discussion.

The Alternative DACs section does a pretty good job at this task and will continue to for some time into the future.  What I personally would like to see is Invictus focus solely on Keyhotee, BTS X and any other DAC proposal they already have that will gain the most FROM that focus.  If BTS X and Keyhotee function as needed with the level of security necessary to fend off the attacks they are 100% guaranteed to experience, that security will only lend value to future DACs built on their tech (thus locking in the value of BitShares PTS for future stake in those DACs). 

**************************************************************************************************************************
Now with that said, some questions:

How does Invictus intend on getting these decentralized banks adopted by a broader audience?  My personal thoughts are to use AGS in competitions to bring on individuals with expertise in the necessary areas to implement and promote these banks in 3rd world countries (preferably from the countries themselves)...where their beneficial effects to the economy will be most salient.  This also doubles as PR and advertising and, most importantly, will release impoverished from the chains of slavery and debt. 

Dr. Evans is especially interested in this very thing.  I expect there will be many, many clones attempted as soon as the concept is proven - if not sooner.  The only thing holding them back is reaching their targeted consumers.  That means those entrepreneurs who team with people who have deep pockets, domain knowledge, and industry contacts will have an overwhelming advantage.  BitShares Music is such an example.  If it goes forward, we will provide the DAC backend and an industry leader will handle the domain specific development.

Will there be a way BitShares X chains can be built to give a % of their earnings to specific causes?  I think of nations that are extremely rich in resources but somehow are poor because of the systems of government under which they live and the connections those Govs have to outside corporate factions (a good documentary here: http://www.youtube.com/watch?v=Ui0NL3bb21o).  But if there were chains built based on a specific country's top 16 resources, and those could float in value across all other chains, but that the specific country's chain automatically gives a % of all trade commissions to its citizens (using Keyhotee...downloaded to mobile phone/pc) or to fix certain issues fascist corporations have created.  (for example: funding of chemical cleanup in Bhopal in India with a portion of the commissions).

I'm sure such a thing could be designed.  That remaining 80% could be put to use all sorts of ways.  For example, BitShares Bingo will likely reserve some or all of that for initial jackpots to draw in customers.  No reason why you couldn't structure it to suit your goals some way or another.  Your biggest risk is that some competitor will clone it and offer those benefits to some other group of customers rather than beneficiaries.  Will customers prefer a version with lower fees and higher rewards for them or will they stick with one that transfers those benefits to others?

Is there a plan for low resource req mobile versions of Keyhotee/Exchanges? To bring value equal to what Bitcoin has produced, Bitshares must provide similar positive value and lower the barriers to entry.  Mobile phones are far more prevalent in 2nd and 3rd world countries.  If Invictus focuses on this, they can help to avoid imperial entanglements (3rd world Govs will be impotent against this). 

I'm sure we will want to do so sooner or later, but we hope third parties will beat us to it.  (We hope third parties beat us to everything as long as they honor PTS and AGS holders which if the original developer doesn't, some forking entrepreneur probably will.) 

Why the heck is MMC not being used for voting on issues or leadership in certain areas? I have tried multiple times to contact MMC's developer to chat with him and introduce the tech and its capabilities to the community, but it feels like this is not a priority for some reason.  For those unaware MMC allows the community to vote on its leadership.  I am not sure if that is as far as it goes, but I would be very interested in seeing them showcased...maybe with a little urging from the Invictus team, we could get a sit-down and figure out how our community could use this tool.

Voting is two wolves and a sheep deciding what to have for dinner.   

[fuzzy]

Maybe getting back to some DAC brainstorming. I keep hearing about the DNS, Music, Bingo etc., but I was earlier under the impression this DAC/DAO business was going to be usable for a huge variety of concepts. I would like the brainpower at Invictus to help us form a laundry list of potential DAC/DAO ideas that developers and the community can look at for starting possibilities and discussion.

The Alternative DACs section does a pretty good job at this task and will continue to for some time into the future.  What I personally would like to see is Invictus focus solely on Keyhotee, BTS X and any other DAC proposal they already have that will gain the most FROM that focus.  If BTS X and Keyhotee function as needed with the level of security necessary to fend off the attacks they are 100% guaranteed to experience, that security will only lend value to future DACs built on their tech (thus locking in the value of BitShares PTS for future stake in those DACs). 

**************************************************************************************************************************
Now with that said, some questions:

How does Invictus intend on getting these decentralized banks adopted by a broader audience?  My personal thoughts are to use AGS in competitions to bring on individuals with expertise in the necessary areas to implement and promote these banks in 3rd world countries (preferably from the countries themselves)...where their beneficial effects to the economy will be most salient.  This also doubles as PR and advertising and, most importantly, will release impoverished from the chains of slavery and debt. 

Will there be a way BitShares X chains can be built to give a % of their earnings to specific causes?  I think of nations that are extremely rich in resources but somehow are poor because of the systems of government under which they live and the connections those Govs have to outside corporate factions (a good documentary here: http://www.youtube.com/watch?v=Ui0NL3bb21o).  But if there were chains built based on a specific country's top 16 resources, and those could float in value across all other chains, but that the specific country's chain automatically gives a % of all trade commissions to its citizens (using Keyhotee...downloaded to mobile phone/pc) or to fix certain issues fascist corporations have created.  (for example: funding of chemical cleanup in Bhopal in India with a portion of the commissions).

Is there a plan for low resource req mobile versions of Keyhotee/Exchanges?  To bring value equal to what Bitcoin has produced, Bitshares must provide similar positive value and lower the barriers to entry.  Mobile phones are far more prevalent in 2nd and 3rd world countries.  If Invictus focuses on this, they can help to avoid imperial entanglements (3rd world Govs will be impotent against this). 

Why the heck is MMC not being used for voting on issues or leadership in certain areas?  I have tried multiple times to contact MMC's developer to chat with him and introduce the tech and its capabilities to the community, but it feels like this is not a priority for some reason.  For those unaware MMC allows the community to vote on its leadership.  I am not sure if that is as far as it goes, but I would be very interested in seeing them showcased...maybe with a little urging from the Invictus team, we could get a sit-down and figure out how our community could use this tool. 

[CLains]

Bitshares X is a "decentralized bank and exchange." What do you mean direct competitor?

[sumantso]

^ Any thoughts. Atleast mention what I understood wrong.

[sumantso]

I have a simple question (and it may sound stupid all those who understands better).

What I get (might be wrong) is BTSX/proposed DACs are NOT direct competitors to NXT, MSC, XCP etc. Since there is a lot of AGS funds lying around is it being considered to create a direct competitor to those? Maybe even let it ride on the PTS blockchain? It may not be considered 'viable DAC' (or is it?), but I would like to have a DEX and not struggle with the likes of Cryptsy. Currently, it seems we have to go through MSC/XCP/NXT to do that.

It would also help in all those PTS conversions. All the funds will be in my wallet, and once a trade happens only then it will move out. No more hassle of trying to withdraw before snapshot.

I don't want to be drawn into the debate of how to use the funds/shark tank/ bounties/ unavailable devs etc. Just want to know if it is being considered.

[donkeypong]

"Bitshares X. It does everything but cook toast." Sorry, I couldn't resist.

We will literally be using it to cook Toast this coming week.

We'll see if we have golden brown or burnt Toast by the end of the week.

[CLains]

Alas, once I was the master...

You're still the master of writing. Every time I read something you've written, I not only learn something new, but I very much enjoy it as well!

[CLains]

Make that 100% sure! The more the merrier.

You'll be a fresh pair of eyes straight from the heart of the community. Don't let the atmosphere lull you into a false sense of security. And don't fall into the buzz of unconscious busi-ness too quickly. Stand back and assess what is going on there before engaging, and take a moment to prepare brutally honest feedback on your overall first impression and analysis.

That's my suggested approach. If we're aiming for excellence here, that's the psychological trick to go about creating it. As humans we want to enter as friends, but as truth-seekers we must enter as inspectors and skeptics. There is plenty of time for friendship the remaining 95%+ of the time you're there! Basically what i'm suggesting is, start with an intellectual pillow-fight

[ssjpts]

 

[toast]

sounds cool, toast, but can you please introduce yourself briefly ?

I'm a senior studying CS at Carnegie Mellon. I've basically checked out of school (I've satisfied my graduation requirements except two super easy classes this semester) and I'm working on the next-gen blockchain space. At the moment I3's work feels the most promising, which is why I'm here.