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Topic: BitShares? interesting ! bullish - page 2. (Read 16417 times)

hero member
Activity: 658
Merit: 501
October 21, 2014, 03:59:20 PM

The capital infusion is based on consensus vote so majority of shareholders would have to agree that the new DAC would be profitable and thus it would get funded... so the idea is that many new ideas would only be implemented if profitable as consensus and thus supply is controlled by ongoing series of votes for profitable features/technologies.... which bitcoin doesn't have... it falls within the current mindset of the economy that you raise funds to pay for new ideas... and it is scalable.. something other coins with fixed supply can't do. In the end the extra supply would be justified by profits.

Many antogonists of bitcoin used as a currency have a problem with the supply... and they say the perfect currency is one which ties supply to growth or gdp... and this would essentially be the best solution to that problem IMO... we vote for something that would help us grow, and supply would scale automatically to that growth.

I have no problem as to delegates switching from a deflationary currency to an inflationary one. I expected as much because of DPOS, but am shocked it is happening this quickly. Some people would suggest this is an inherent problem with DPoS as early investors investments are being diluted, what do you think?

What do you think about the differences of how Bitcoin vs Bitshares raises funds for development?
legendary
Activity: 2044
Merit: 1005
October 21, 2014, 03:58:49 PM
I honestly don't see any of the negatives. ....That is why I have so much faith in BitShares' future -- the economics are sound.

These comments are truly telling.

I can and do discuss many negative aspects about Bitcoin despite my investments. If you cannot see any negatives of a dev leveraging his time with  a competing DAC and thus undermining the previous investors to create a "capital infusion" than you really do have a lot of faith.

It is a one time infusion to avoid spending time on many DACs and create one to create one big rocket ship for outer space instead of smaller ships trying to get there... capital infusion is meant to be a feature for new DACs rolling fwd to tie supply to real growth (and funding for new technologies) as a consensus over time... thus it is unlike anything else out there today...
hero member
Activity: 658
Merit: 501
October 21, 2014, 03:53:35 PM
I honestly don't see any of the negatives. ....That is why I have so much faith in BitShares' future -- the economics are sound.

These comments are truly telling.

I can and do discuss many negative aspects about Bitcoin despite my investments. If you cannot see any negatives of a dev leveraging his time with  a competing DAC and thus undermining the previous investors to create a "capital infusion" than you really do have a lot of faith.
legendary
Activity: 2044
Merit: 1005
October 21, 2014, 03:27:21 PM
BitShares isn't a currency, it's a company.

I understand Bitshares is a DAC and never claimed otherwise(You are combining 2 sentences).

 I was referring to the fact that I was told multiple times that BTSX is the first true deflationary currency as the IPO willed into existence an initial 1,999,883,512 tokens that would never be increased unlike with the allocation of other crypto-currencies. It now appears that there are plans to increase these tokens to 2.5 Billion shares or coins or whatever you wish to call them for the sake of clarity, marketing , and cash infusion for devs.


The price has risen today based on near-finalization of the merger plans, so I don't think your FUD attempt will work...


There are good things and bad things about this maneuver. I do believe that clarification is certainly a good thing for bitshares as the whole AGS/PTS/BTSX/BitUSD and all the assets was entirely overly complicated mess.... but there are bad things as well. What do you think about the negatives?  

The capital infusion is based on consensus vote so majority of shareholders would have to agree that the new DAC would be profitable and thus it would get funded... so the idea is that many new ideas would only be implemented if profitable as consensus and thus supply is controlled by ongoing series of votes for profitable features/technologies.... which bitcoin doesn't have... it falls within the current mindset of the economy that you raise funds to pay for new ideas... and it is scalable.. something other coins with fixed supply can't do. In the end the extra supply would be justified by profits.

Many antogonists of bitcoin used as a currency have a problem with the supply... and they say the perfect currency is one which ties supply to growth or gdp... and this would essentially be the best solution to that problem IMO... we vote for something that would help us grow, and supply would scale automatically to that growth.
legendary
Activity: 2044
Merit: 1005
October 21, 2014, 03:23:43 PM
Interesting articles on bitshares:
http://prestonbyrne.com/2014/08/17/dont-walk-away-run/

http://prestonbyrne.com/2014/08/24/what-goes-up/

Additionally, there is now talk about a merger and many plans to further dilute shares. Damn, I actually was hopeful that the claims of the "first truly deflationary currency" were correct.

BitShares isn't a currency, it's a company.

The price has risen today based on near-finalization of the merger plans, so I don't think your FUD attempt will work...

bitshares is not a currency nor a company.. if it were a company it would fall into legal battles with SEC and the likes... it is a toolkit. It's important to draw this distinction because it can't be shutdown like bitcoin. If it were a company it could get shutdown... Invictus could get shutdown but bitshares would live on.
sr. member
Activity: 326
Merit: 250
King of all the land
October 21, 2014, 03:15:36 PM

Yes, because people give a damn what bluemeanie of all people has to say on the subject...

There are good things and bad things about this maneuver. I do believe that clarification is certainly a good thing for bitshares as the whole AGS/PTS/BTSX/BitUSD and all the assets was entirely overly complicated mess.... but there are bad things as well. What do you think about the negatives? 

I honestly don't see any of the negatives. The merger is a great way to keep developer focus on one DAC (instead of competing DAC's that would likely cannibalize each other) while tremendously streamlining the confusing naming system that was going on. In regards to dilution, I feel it is necessary to a certain extent in order to keep BitShares growing -- all dilution is up to the shareholders to vote on, and no one will vote for dilution if it doesn't increase the DAC's profitability.

It is important to step out of the mindset of just being another "currency", and look at it like a company, as companies issue new shares all the time to increase profitability for the shareholders. This is a much more transparent/decentralized form of that.

And comparing to Bitcoin -- the profits for the BitShares DAC go directly back to the shareholders in the form of burn or are used to continue building the DAC. Bitcoin bleeds millions through the mining process, and none of that money is ever put back into the BTC ecosystem. That is why I have so much faith in BitShares' future -- the economics are sound.
sr. member
Activity: 280
Merit: 257
bluemeanie
October 21, 2014, 03:03:07 PM
BitShares looks like VERY promising technology not sure about the ipo tho

what do u think brothers and sisters? Smiley

~CfA~

a thread on some criticisms of Bitshares
hero member
Activity: 658
Merit: 501
October 21, 2014, 02:56:56 PM
BitShares isn't a currency, it's a company.

I understand Bitshares is a DAC and never claimed otherwise(You are combining 2 sentences).

 I was referring to the fact that I was told multiple times that BTSX is the first true deflationary currency as the IPO willed into existence an initial 1,999,883,512 tokens that would never be increased unlike with the allocation of other crypto-currencies. It now appears that there are plans to increase these tokens to 2.5 Billion shares or coins or whatever you wish to call them for the sake of clarity, marketing , and cash infusion for devs.


The price has risen today based on near-finalization of the merger plans, so I don't think your FUD attempt will work...


There are good things and bad things about this maneuver. I do believe that clarification is certainly a good thing for bitshares as the whole AGS/PTS/BTSX/BitUSD and all the assets was entirely overly complicated mess.... but there are bad things as well. What do you think about the negatives?  
sr. member
Activity: 326
Merit: 250
King of all the land
October 21, 2014, 02:49:01 PM
Interesting articles on bitshares:
http://prestonbyrne.com/2014/08/17/dont-walk-away-run/

http://prestonbyrne.com/2014/08/24/what-goes-up/

Additionally, there is now talk about a merger and many plans to further dilute shares. Damn, I actually was hopeful that the claims of the "first truly deflationary currency" were correct.

BitShares isn't a currency, it's a company.

The price has risen today based on near-finalization of the merger plans, so I don't think your FUD attempt will work...
hero member
Activity: 658
Merit: 501
October 21, 2014, 02:39:59 PM
Interesting articles on bitshares:
http://prestonbyrne.com/2014/08/17/dont-walk-away-run/

http://prestonbyrne.com/2014/08/24/what-goes-up/

Additionally, there is now talk about a merger and many plans to further dilute shares. Damn, I actually was hopeful that the claims of the "first truly deflationary currency" were correct.
legendary
Activity: 1484
Merit: 1026
In Cryptocoins I Trust
September 08, 2014, 02:28:09 PM
BitUSD and other bitassets will start generating variable interest (like a savings account at a bank) starting Wednesday: https://bitsharestalk.org/index.php?topic=8520.0

BTSX up 20% today.  Cool
hero member
Activity: 547
Merit: 502
September 07, 2014, 02:08:40 PM
...so, is BitShares still using the same asset pegging scheme as described in this thread?

https://bitcointalksearch.org/topic/pirate-v20-unravelling-the-bitshares-ponzi-298677


Tacotime, here is the latest thread on the market rules.

https://bitsharestalk.org/index.php?topic=8358.0
legendary
Activity: 2044
Merit: 1005
September 07, 2014, 10:12:54 AM
Also want to highlight this post by Vitalik Buterin, in which he discusses the double-edged sword of self-referencing price pegs (i.e. no explicit link to the real world) as BitsharesX is doing:

https://bitcointalksearch.org/topic/m.3581512

I don't know enough about DPOS and whether it can implement the POS voting that Vitalik mentions or if it addresses cunicula's criticisms.

There is talk of adding market adjusted interest rates to avoid the binary outcome of an expected price target. It reduces the binary outcome to a floating price with incentive to float at a price target of $1usd per bitUSD. The lower or higher the more the incentive.
hero member
Activity: 547
Merit: 502
September 03, 2014, 06:38:21 PM
Nice article from CoinDesk on 2.0 tech.  This will be one interesting winter.

http://www.coindesk.com/crypto-2-0-roundup-bitcoins-revolution-moves-beyond-currency/
newbie
Activity: 56
Merit: 0
September 03, 2014, 03:26:07 PM
hero member
Activity: 547
Merit: 502
August 28, 2014, 09:22:37 PM
Nice blog article for an intro to BTSX:
http://bitcoinist.net/bitsharesx-i-join-the-grand-experiment-part-1-of-2/

From reading their forum, lots of action has been happening day and night.  Some interesting threads to watch:

Basically covers current bugs and no one will lose btsx due to bugs etc...
https://bitsharestalk.org/index.php?topic=7823.0

Reassures that the market peg will come about no matter what as they have backup plans in place if required.
https://bitsharestalk.org/index.php?topic=7843.0


It's nice to see their team provide updates and be upfront about current issues, incoming fixes, and general feedback to the community.
newbie
Activity: 56
Merit: 0
August 28, 2014, 03:43:51 PM
Also want to highlight this post by Vitalik Buterin, in which he discusses the double-edged sword of self-referencing price pegs (i.e. no explicit link to the real world) as BitsharesX is doing:

https://bitcointalksearch.org/topic/m.3581512

I don't know enough about DPOS and whether it can implement the POS voting that Vitalik mentions or if it addresses cunicula's criticisms.
sr. member
Activity: 434
Merit: 250
August 25, 2014, 02:11:44 PM
obvious IPO on coin from known scammer is obvious.. Memory Coin guy who made Bitshares has the most scammy coin ever released !

People must be right, your a paid troll and incorrect yet again.


FreeTrade helped launch the Protoshare's qt client, he did not design ProtoShares or BitShares.

On second note, FreeTrade has also done more then you could ever dream of.

my comment was rock solid a thousand feet thick of concrete solid and i called it on day one !
i have made 100 fucking topics on this cunt scammer and went on and on and on and on with walls of text about it..
you idiots are retards and want to wear me out and hey congrats it's working..
i think of a wall of text to say and you guys say,
"no your a lair and a troll"
takes two seconds to say that and me an hour to type it up.. not too fair.

the fucking faggot FreeTrade is the most clever scammer in all of crypto.
one of his many coins is MemoryCoin and that was hands down the most complicated scam.. evil genius style lol

i called that fucker out last year when he released PTS and he deleted my comments called me a troll and played diversion games.
and then from there when i cornered him he just started lying his ass off..

i can lay it all out and go "show my work" so to speak but why bother ?
your all idiots and i have watched him play your ass's like a violin for ages
..morons  Roll Eyes

So you get all butthurt when someone else doesn't prove their point but you don't have to?

Here's a quote of yours from earlier today:

"BULLSHIT !

Prove it or STFU."

 Cheesy
sr. member
Activity: 434
Merit: 250
August 25, 2014, 02:07:46 PM
obvious IPO on coin from known scammer is obvious.. Memory Coin guy who made Bitshares has the most scammy coin ever released !

FUD.
newbie
Activity: 56
Merit: 0
August 25, 2014, 12:17:34 PM
As far as I know, the Bitshares market pegging process has not changed since cunicula's thread was started in September 2013.  While a somewhat abrasive character, I have a lot of respect for cunicula's ability to identify the fraud of the Bitcoin Pirate bank.  The credibility is clearly there.  He/she should not be immediately dismissed as a trouble-making troll.
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