Author Topic: I need help trying to convince a friend to consider supporting Bitshares.  (Read 13330 times)

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Offline gamey

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I considered what the Bitshares column would look like.  I think it can hold its own, but the grid lends towards framing questions that are yes/no.  So you have to load the questions.  It isn't a binary matter of features, it is the actual underlying qualities that make the comparisons equal or in favor of Bitshares.  It is just hard to put that in these feature comparison graphs.
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Offline Empirical1

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Cool comparison graph, yeah that was the kind of thing I was thinking of.

I like how they made 'uses BTC blockchain' look like an advantage. Really NXT should get a tick for NOT being tied to the BTC blockchain and the others should get crosses...

I guess we don't have anything working yet, so we'd look weakest in a current comparison.

What would people add to the one above that would showcase the advantages of BitsharesX?

I assume we'd have the fastest confirmation times?
We'd have Bit Assets that they wouldn't be able to replicate?

XCP & MasterCoin by virtue of being tied to Bitcoin are also the most centralised and insecure? (Mining pools, GHash etc.)?
Don't know what the heading would be?  Centralisation resistant/Blockchain Security?
« Last Edit: June 27, 2014, 10:56:53 pm by Empirical1 »


Offline xeroc

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Offline Brent.Allsop

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If your looking for how Bitshsares is better than Either, this is a good source of information anyone from any side can contribute to:

http://canonizer.com/topic.asp/163



Offline santaclause102

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Offline jae208

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There are some people out there who dont have an open mind and no matter what you say, no matter how rational you are and what evidence you provide you simply wont change their mind. I've reade articles on psychology today about this and they call it, "openess to experience. " As with everything else different people have varying levels of openess.

My suggestion is to not even bother trying to change your friend's mind he either gets it or he doesnt. He either isnt too open minded, doesnt have the same reasoning ability as you do, or isnt as optimistic about life in general as you are. Don't let empathy get in the way you have better things to focus on. :)
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Offline fuzzy

You realize that even you don't really know what you're talking about, and you're trying to write the wiki article.  This is the problem.

Quote
Bitshares is a 100% proof of stake system so all the shares are pre-allocated and there is no need for the dilution of stake

In the new paradigm that is likely not true, delegates must be paid and since no tokens were retained the best option now is to create an inflationary system where new tokens are created to pay the delegates.    Alternatively, you rely on delegates doing it for very cheap which means you get only delegates whose time is not worth very much, which form the backbone of the network.   

Not big deal, but you lack some knowledge here he he :)

Why should I believe I am wrong if you don't explain how?  Not all of us can subsist on blind faith.

I'd argue anyone in crypto is doing precisely that at this juncture.  Especially those in bitcoin--which is completely centralized now.
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Offline onceuponatime

Some people felt strongly about not pointing out others weaknesses but focusing on our strengths, with valid reasons.

What do you think about producing some kind of fair comparison chart between Bitcoin , NXT, Ethereum & BitShares?
Would that be some sort of middle ground? You know like one of these type things below?





With headers like mining, transaction fees, dividends, distribution, speed, security etc..

 +5%  People love infographics.  Especially newbies.  Although a grid like that is more yes/no and not so much qualitative.  It is hard to fit these traits in there.

Forced inflation via mining / dividend system / block times below 30 seconds  ...  That sort of thing is hard to fit in a header.  Hrmmm

I was one of those thinking that negative advertising and disparaging competitors is dangerous and invites clever retaliation and flame wars. But I think an infographic like this is acceptable acceptable and valuable.

Offline gamey

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Some people felt strongly about not pointing out others weaknesses but focusing on our strengths, with valid reasons.

What do you think about producing some kind of fair comparison chart between Bitcoin , NXT, Ethereum & BitShares?
Would that be some sort of middle ground? You know like one of these type things below?



With headers like mining, transaction fees, dividends, distribution, speed, security etc..

 +5%  People love infographics.  Especially newbies.  Although a grid like that is more yes/no and not so much qualitative.  It is hard to fit these traits in there.

Forced inflation via mining / dividend system / block times below 30 seconds  ...  That sort of thing is hard to fit in a header.  Hrmmm
I speak for myself and only myself.

Offline Empirical1

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Some people felt strongly about not pointing out others weaknesses but focusing on our strengths, with valid reasons.

What do you think about producing some kind of fair comparison chart between Bitcoin , NXT, Ethereum & BitShares?
Would that be some sort of middle ground? You know like one of these type things below?



With headers like mining, transaction fees, dividends, distribution, speed, security etc..

Offline Empirical1

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Bitshares solves all the inherent problems of bitcoin:

- slow transactions per second when compared to a major payment processor like visa (7 tps vs 10,000 tps)
- wallets are machine readable not human readable (as a result something like 5% of btc have been irrevocably lost)
- transactions are not anonymous
- distribution model is inflationary, even if the argument can be made that the inflation has been priced in
- price volatility (obviously this is the biggest deterrent when it comes to adoption as a major currency)
- security of the network cost anywhere from $500 million to $1 billion annually depending on the bitcoin market capitalization
- control of the network is proportional to hashing power not proportional to you relative bitcoin holdings
- centralization of hashing power under the control of a single mining pool

How Bitshares solves these issues:

- DPOS reduces block production to 15-30 seconds and since computational resources are used for the purpose of transaction propagation and confirmation rather than pointless computational work, DPOS blockchains can scale to the transaction load of visa
- Bitshares uses accounts that can be registered on the blockchain. Users no longer need to send money to an alpha numeric string that can be miscopied. Instead you send money as easily you would send an email and in the exact same fashion. It is very difficult to send to a wrong account. You can still send to public keys but its unnecessary and adds little advantage
- Bitshares uses TITAN which automates the creation of stealth address using an accounts registered public key. No need for mixing or "masternodes." All transactions are inherently anonymous without the user needing to do anything
- Bitshares is a 100% proof of stake system so all the shares are pre-allocated and there is no need for the dilution of stake
- Bitshares X is a bank that allows people to hold deposits in whatever asset they want. This system allows investors with a higher risk tolerance to collateralize and trade virtual assets, to ensure that users who simply want to use crypto currencies as a stable medium of exchange can do so without risk due to the volatility of the networks main equity/currency. (That is to say that if you put $100 in the network your deposit always redeemable for $100 worth of bitshares, as a result of the free market peg of bitUSD to real USD)
- The cost of securing the network is simply a fraction of the transaction fees accumulated by the network. Transaction fees are destroyed which acts as an implicit dividend to holders of bitshares and makes Bitshares truly deflationary.
- Delegates compete for votes and the top 101 delegates produce blocks. The job of a delegate is simple include as many valid transactions
in your given block and sign a single block. If a delegate signs multiple blocks they are immediately fired. If a delegate blocks transactions they will be voted out of office. Each round delegates are randomly assigned a block to produce thereby making it that much harder to coordinate a sustained attack on the network without 51% of the shares.
- Shareholder votes are proportionate to the relative number of shares they own. The DAC is completely shareholder run

Bitshares solves all the problems of bitcoin and does not overcomplicate things in the way that Ethereum does. When you view these crypto currencies networks through metaphor of a company you realize how misinformed people are about how these networks should be designed.  It is imperative that the developers of a crypto currency network have a solid understanding of economics and I believe that Dan Larimer and his team have the best economic perspective  in the crypto currency space. To be honest if you truly evaluate the fundamentals ethereum is just not even comparable, both as a crypto network and as an investment. People need to stop buying into hype and do the necessary research before they invest.

I translated this into Chinese. Hopefully it will help newbies in China to see the whole picture.
https://bitsharestalk.org/index.php?topic=5290.0

 +5% Great!