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haha good luck convincing me to trade bitcoins for that trash
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I think he knows that I know what he was hoping no one else would ever know, you know? https://twitter.com/frankieterrierFor those of you interested I will be posting a statement on thur re #bitcoin and press reports and #joelewis you're the man Phin |
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A comment on the MtGox situation and recent development
This is a great business case study.
Chapter 1:
The first bitcoin exchange founded by Jed Caleb, running it from the start with passion for great customer satisfaction. It is growing massively. There were some technical issues, but they always got solved.
Chapter 2:
Mark Kapeles buys MtGox. Luckily for him, bitcoin takes off in the public and exchange volume rises. He is happy.
Chapter 3:
He does not seem to be as passionate and dedicated to customer service as the MtGox founder which leads to a lot of frustration. Hacks happen, security breaches, etc. MtGox is not innovating at all: The website and exchange options are as they were 2-3 years ago... Still today, there are no stop loss, stop buy, trailing orders, etc. something that many exchanges have and something that would also lead to better customer satisfaction and more volume for the exchange..
Chapter 4: The lack of innovation, bad marketing, PR and customer service leads to lower customer trust.
Chapter 5: The attempts of complying with money service regulations etc. are too late and withdrawals got stopped or delayed so much that the community loses even more faith..
Chapter 6: People leave MtGox in masses and other exchanges profit.
This is how market leaders fall... while with just a little business and marketing sense this could have been avoided... Just my 1ct ....
finally MtGox is trying to react with PR statements, but still, based on my own experience nothing moves really smoothly in terms of withdrawals. I cancelled mine after 5 weeks of false promises from MtGox. I read the press release https://www.mtgox.com/press_release_20130805.html. It is silent with specifics when it comes to USD withdrawals. I agree. With every piece of communication they erode my trust further |
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Press 0.7140%
Speculation 0.4382%
Economics 0.1622%
Service Discussion 0.1600%
跳蚤市场 0.1410%
Long-term offers 0.0845%
Project Development 0.0829%
Mining speculation 0.0786%
Legal 0.0578%
Goods 0.0494%
what does this say about me!
but i don't even speak chinese? or, am, for that matter
I do like supporting the community by buying cool things with bitcoin that are worth it
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How about you post bounties ... and you can try to implement them yourself?
This way you're giving everybody the same chance of a 'salary' that you're giving yourself.
If you'll work quickly and implement bounties, you'll be worthy of the payout.
If not, let the best/most efficient/cheapest coder win (while adhering to strict quality & security standards).
My vote goes to bounties.
There would be an issue with conflict of interest when setting bounty payouts. For instance, Willett can set a bounty for a feature, and in the case he expects no one would pick up such a bounty an artificially high bounty would be set. Who says it's "artificial". If nobody will/can do it, then whatever price Willet pays is justified (assuming the task is important, enough time is given for people to bid on the bounty, etc). I just feel like a lot of the problems in creating the source has already been cursorily resolved by Willett already, meaning it'd be very easy for him to post a high bounty and claim it with ease just because he already thought about how to tackle that component before anyone else did. Besides, I'm no software engineer, but doesn't it take a lot of effort to sufficiently describe the "scaffolding" for a program to get someone else to understand exactly what is wanted? As of right now I'm favoring the "trust Willett to be frugal and thrifty with what he spends the fund for" option and hope that he exercises the best course of action for each step that needs to be solved to get this thing off the ground. Some things he'll be better off doing on his own and others, it would make perfect temporal and financial sense to delegate out. Time should be taken to identify which of the project milestones are which. Also, as I understand it, it is likely we need as much of the initial funds as we can save to secure the escrow and initial value within Mastercoin, if it helps. Honestly i'm still a bit iffy on the beginning as to how Mastercoin will start trading (I'd appreciate some help understanding on this point!) . Also, spending on promotional media at this point is frivolous in my humble opinion. It is a pretty good business rule that you don't spend your initial capital on marketing when you don't even have an inkling of a return on investment yet, it is better to rely on word of mouth for now versus using up 1exodus. Now, once we get the source working with no problems, we can risk spending 1exodus on something like marketing, if we think the return on said marketing will be greater than its cost. I think having a video that shows what is possible with Mastercoin, with direct application of the protocol, say, with an easy to understand concept such as dist. betting would be the first great start, and a great way to segue into the other features. Without a direct application available for people to get their hands on, a video would be kind of ineffective in terms of spreading adoption. Perhaps before this happens, an easy-to-use service that utilizes the distributed betting feature should be created. I could see this being contracted out. Ideally, I'd like to see a proportionate return of 1exodus funds to the sending addresses OR preferably, a sort of endowment fund that will see through to accelerating Mastercoin's long term success. This leads me to think, hear me out on this Willett since I know it's kind of your project and all: there should be some sort of oversight board with a platform (the more open the better IMO) to discuss the various spending that will need to be conducted throughout this dev and distribution cycle, and veto powers (perhaps limited somehow?) in the case that those vested think a proposal is frivolous and a better route should be sought.. Just something that can facilitate discussion about transparent fund usage before it happens, you know? In my experience, sometimes the creative doers of a group, despite how great their idea is and their acuity in their respective trades, forget the full business side of the equation and run through too many costs before drying up all their capital, or simply just using capital less than optimally/prematurely. That is my biggest fear. Thoughts? |
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How about you post bounties ... and you can try to implement them yourself?
This way you're giving everybody the same chance of a 'salary' that you're giving yourself.
If you'll work quickly and implement bounties, you'll be worthy of the payout.
If not, let the best/most efficient/cheapest coder win (while adhering to strict quality & security standards).
My vote goes to bounties.
There would be an issue with conflict of interest when setting bounty payouts. For instance, Willett can set a bounty for a feature, and in the case he expects no one would pick up such a bounty an artificially high bounty would be set. |
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business is business i suppose. interesting indeed in how far someone will go to get their company in the spotlight |
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So you're saying this is pro marketing at work? interesting if so
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Yes, I control the Exodus Address. Any funds sent there are to be used for making this a reality. Doesn't this mean you are the only investor who bears zero risk for investing, and so have a heads-I-win-tails-I-get-my-money-back situation? not really. All MSC purchasers bear the risk of what he has spent going sour. if it turns out that the project can't go on, the remaining funds will be returned to the sending addresses. the risk is shared proportionate to the investment, though he has control of the funds. the question of what he pays himself is another matter to be discussed..... |
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I'm not sure knocking down old shoddy buildings for farmland is a very good idea. What do you think the chances are that the old buildings you are demolishing were painted with lead paint? Even if you disposed of the house materials in the proper way (hazmat precautions required, very very expensive) the ground around where the houses were demolished would be unusable due to the contact it had with the house in standing condition.
I think it would be incredibly neat to have a Bitcoin crowd funding project buy up an area, but I think we may have better luck in another area that is insanely cheap. I have often though of buying a lot of land out in a very rural area, and then creating a large business there. Jobs would attract people to move there, and essentially grow the area into a town. Detroit may still be feasible, but perhaps with a different plan than funding by farming.
The reason I had Detroit in mind is the transportation and infrastructer is already there. Mainly, we snatch up some land/property and convert into a bitcoin shanty town to start and spreading out as we go. At least that is my thinking.  I have a feeling this might be our only chance. property taxes they can be included I mean $5,000 + property taxes isn't going to break the bank. they better pay me 5000 in taxes to live in detroit.... |
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hehe somoene sent 0.pi coins
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I'm not sure knocking down old shoddy buildings for farmland is a very good idea. What do you think the chances are that the old buildings you are demolishing were painted with lead paint? Even if you disposed of the house materials in the proper way (hazmat precautions required, very very expensive) the ground around where the houses were demolished would be unusable due to the contact it had with the house in standing condition.
I think it would be incredibly neat to have a Bitcoin crowd funding project buy up an area, but I think we may have better luck in another area that is insanely cheap. I have often though of buying a lot of land out in a very rural area, and then creating a large business there. Jobs would attract people to move there, and essentially grow the area into a town. Detroit may still be feasible, but perhaps with a different plan than funding by farming.
The reason I had Detroit in mind is the transportation and infrastructer is already there. Mainly, we snatch up some land/property and convert into a bitcoin shanty town to start and spreading out as we go. At least that is my thinking. I have a feeling this might be our only chance. property taxes |
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Lol you fools! I can't count how many times people have ripped off other people on selling property in Detroit, don't think I have heard of a single investor making profit.
we need capitulation first before the buying's ripe!  |
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I am definitely surprised that the WSJ would run a story like this without a thorough fact-checking, but it sounds like that's what happened. I would have expected the reporter to at least check with multiple sources.
right?? it makes me so angry |
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Sorry, I took all USD look to the right!! |
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what the hell is going on
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is this an open discussion, can anyone attend?
more importantly can msantori go? He is listed as a speaker. for real? nice, apparently me reading skills have deteriorated lately...  it's this forum. you have to skim through everything and it screws you over when you have to do normal reading |
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^hehe that's kinda why i'm tempted to buy the aluminum one too. mostly the macbook thing, but the other reasons too
apple fanboy complains about expensive hardware... weird. hehe but it's worth it for the macbook. the extra aluminum casing around a bitcoin wallet: cool, aesthetically pleasing, but it's not like i have an amazing user interface or anything as compared to the cheaper version |
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by russian hax0rz. they have funny accents, how could you trust them |
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