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1  Alternate cryptocurrencies / Altcoin Discussion / Re: Steemit how can this thing be workable long term? on: July 25, 2016, 01:51:55 AM
Other than deluded n00bs, who is long-term investing in Steem?

Could someone give me some explanation as to why anyone would convert BTC to STEEM POWER? (not STEEM which is debased 92.5% to 100% yearly)

Blockchain investment has, let's say, 2 main types

1) individuals like those of us who frequent btctalk
2) funds who are dealing with millions or billions and are throwing money like there is no tomorrow - types of funds that have ETH at 1+bn marketcap despite all its clusterfucks

The money invested by group (2) is in the hundreds of millions, if it hasn't exceeded a billion already.

Buying a stake at something like Steem could be an investment, for them. They'd essentially be betting on its success and expansion.

Now, in a world where stuff like messaging apps and snapchats and online games can fetch billions or tens of billions, this is not very unlikely to happen.

For group (1) the dynamics are entirely different and what they do with their 1-5-10-100 btc investment is a whole different issue.

You can't buy the company, there isn't one seller.

There is already at least one significant fund (crypto oriented) that invested in SP as a long term play. That others may as well is not implausible. I agree with AlexGR. That has nothing to do with buying the company, and may even turn out to be more valuable than buying the company anyway since it isn't clear what business value the company has other than its SP holdings. People can and will access the platform while bypassing the web site.

Why they would buy into a blockchain debasing at 15-21% yearly for SP holders and which has a license saying it can't be forked (then who the fuck can improve it? Only Dan and Ned?)?

I guess they haven't learned yet that open systems beat closed ones. They probably didn't do the math on the debasement correctly also.

The total lack of reason* to buy steem (in order to power up) is central point [of failure] where this complicated house of cards is most unstable.

*Notwithstanding today's smooth comment that subsciptions fees tend to go up for successful companies.
2  Bitcoin / Project Development / [Pre-ANN] B&C Exchange A decentralized cryptocurrency exchange for everyone on: April 21, 2015, 07:31:00 PM
Mr Lee:
1. how do they plan to prevent someone from flooding the system with (matched) orders and not following through with the actual coin transfers?

2. is  reputation based on votes by the coin holders the best one in your opinion?

3. What are your reasons to have a separate token for transaction fees. why not the native token in the system?
3  Alternate cryptocurrencies / Altcoin Discussion / Re: BitShares PTS upgrade to DPoS is launched on: December 27, 2014, 07:05:59 AM
I apriciate everyones concern and feedback, but please back off.  We all get the point and this discussion is interfering with actual productive R&D.   

If we are talking about principles here:

1) PTS should live on and be supported by who ever wants to buy in / share drop to it.
2) BTS should ask for a reasonable recognition (20% or less) share drop in future chains.
3) AGS is what it is. It is just another share drop target.   I personally thing PTS should have share dropped 10% on AGS for funding its upgrade and freeing it from mining.   
4) I don't want DVS to set any precedents.


Somebody else made the comment. But it is soooo good, I decided to borrow it:


Humongous nail in the Alphabar's coffin!

  Shocked  Shocked  Shocked



4  Alternate cryptocurrencies / Altcoin Discussion / Re: BitShares (wth?!) on: December 03, 2014, 04:57:50 AM
The bitusd to usd peg is working quite well. There are very few arbitrage opportunities which are gone within very short period

To bitcoin fans...Don't hold any BTS if you don't want to. Buy BitBTC and hodl...You will earn some btc interest, reduce your exposure to get goxed from a centralized exchange and you will support the true decentalization of the bitcoin ideoly.

Your investment is secured based on pure and simple economics. BTS is just a bank that every bitasset created is backed by x2 BTS in collateral. As long as 1 BTS has some value bigger than ZERO your investment in bitassets is secured

So please do your research first, stop spreading FUD, be honest to your decentralized ideologies and stop supporting the corrupted centralized system of cryptos and proof of waste of bitcoin for no reason and at all costs. Bitcoin and proof of waste coins were great last year but cryptos have evolved so don't be left behind..

You cannot have a bitUSD peg without convertibility to USD at some specific point...
Or a bitBTC peg without convertiability to BTC at some point.

These are futures markets minus the "settlement".

This is much more serious than running an unregistered exchange...
It's such a basic error that it can only be considered fraud when it collapses.

Just imagine that instead of BTS...
You create a USD peg using tulips or baseball cards... both of which have real value.

If you have a cult following of a few hundred zombie chinese "traders"...
And you can have WHALES with tons of tulips manipulate the market...
And you can keep changing the rules.

IT  WILL  KINDA  WORK  FOR  A  WHILE...
But when the shit hits the fan... in the end all you got is tulips... and no USD.

There is nothing new here. People were doing this 200 years ago.


I am ready to accept this if you are ready to accept that BTC has no value as well.
Bitcoin, created out of thin air and the birth certificate for its creation recorded for the future generation... not redeemable for anything ever, btw.
5  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][RPCD] Rand Paul Coin (Deflationary) on: November 27, 2014, 06:06:27 AM

Well you campaigned very strongly for adding dilution to BTSX was my point.
No I don't like the inflation model of Sparkle at all, but yes I prefer it to undefined dilution.



OK, so asking the question - "Should I consider, running a delegate" is a strong campaign?
Sure it was  Smiley, counting the people that promised to vote for me just for shutting up.  Smiley




Who's got undefined dilution, by your criteria?
 BTS?

 BTC dilution can change also, you know... but generally 'undefined' is a very personal definition of yours, I hope you realize it.


Back to to Rand Paul Coin:

I should have invested more, far more in it. But I do not touch Crypti anymore.
Hope ( for selfish reasons) RPCD does not start way too high,  so I can take the position I like.

6  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][RPCD] Rand Paul Coin (Deflationary) on: November 27, 2014, 05:45:04 AM
I guess we have different POV. These things seem very obvious to me. I predicted the peg problems before the trading started in fact, same with the short term results of dilution. But as I said you should campaign to try an asset without a price feed in BitShares. I know your ideas & opinions command a lot of respect there and there was also a lot of interest in you being a delegate. This is something you can add to the list of ways & ideas with which you can add great value to BitShares. It might tip the scale for you.

RPC doesn't have any inflation at all, so I know it's probably not your thing anyway.


1. You do not get the main point with this suggesting for me to run just 'one asset to try it'. It does not work like it. You have to have the price of BTS dependent on the model implemented...if I have my single play bit asset it might (and I am pretty sure it will) behave the way described in the 'fail system' described by you.

2. 'I know your ideas & opinions command a lot of respect there and there was also a lot of interest in you being a delegate.'
 I do not think so...on all points in the above statement.

3.RPC doesn't have any inflation at all, so I know it's probably not your thing anyway.

That's funny. I do not like inflation, actually I dislike it far more than you...but you do like it if it is pre-determined even if it is 260% ...example - Sparkle  Wink



btw ,We took this thread well off topic, so if you want to continue arguing we can take it to whatever other venue you like, but not in this thread anymore.
7  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][RPCD] Rand Paul Coin (Deflationary) on: November 27, 2014, 04:57:26 AM
- You need the price feeds because otherwise it doesn't work. (There will be a lot of RandPaulCoin Bulls, willing to short but lower demand for the assets. This results in a peg that doesn't work. BitShares' first crash after they got to a $100 million made them learn this lesson the hard way. Even now BitAssets are able to offer interest, why? Because there is so much competition to short. Without the feeds this would instead translate to your assets being too far below the peg.)

And you know they does not work, how exactly? Somebody told you so?

The price of Bitshares crashed because the original 'market pegged assets' were abandoned and instead BTS now has 'feed priced assets'.

I am not suggesting Rand Paul Coin implementing the real market pegged assets, but those have not been tested in practice by nobody and I am betting that somebody someday will. As early as 2015.

There was a thread on that forum - 'Why Vitalik got the award and BM did not'. Well it is simple in my mind - BM made the biggest discovery and let others (including Vitalik btw)  persuade him that his idea does not work.....

All the information you need to understand why I think they don't work is contained within that succinct paragraph you just quoted. (I believe you'll find there is a greater number of people looking to take a leveraged position on BitShares vs. a long position on any specific asset atm over an extended period. Therefore if shorts are not forced to compete above a price feed, they will compete on how far below the peg they're willing to short which logically and imo has already been shown in practice to create assets that peg far too low. (Where it actually pegs will be a reflection/expression of the average interest rate shorts are willing to pay, but because shorts outnumber longs in the system over an extended period it actually settles/pegs around that point, rather than the actual 1-1 peg.) If you believe otherwise, there's no reason you can't campaign for BitShares to try listing one asset on BitShares without the price feed to prove/test your point.





It's ludicrous idea...short are crazy...they do not know what they are doing so they just short short short below the peg...

Several counter arguments:
-These shorts will be wrong; if the peg does not hold their (aka BTS) value will not go up...the stupid are punished by the market by taking their money...next time around they will be wiser... and in smaller number of crazie shorts btw.

-What is wrong with offering those bitUSD at a discount months and months before there is any real use for them? Nothing imho. All parties would have been made whole by now.

-Why do you think the useless tokens in the play game BTSX at the time should follow the rules for the real money of the future? Do you really think that playing poker with toothpicks teach you anything about how people behave when they play for real money?


Circular stupid argument- they will short lower and lower....BS... they will not. They expect the system to grow, this does not grow it....but if you insist they will both trust it and try to destroy it and themselves at the same time.... and act irrational go and defend it. Total BS.





8  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][RPCD] Rand Paul Coin (Deflationary) on: November 27, 2014, 03:54:48 AM

The idea of a pure "game-theory" market might be something RPCD will be interested in resuming. The arguments are not clear to me. Are there threads discussing the problem that the feeds corrected?

As far as I am concerned no such  discussion took place publicly (for the opposite view ask FandangledGizmo, he seem very convinced in his opinion, he might have read something I have missed).
For me the story goes like this - The mastermind of 'feed priced assets' came and said "'market pegged assets' do not work. I will tell you how to fix the system." Overnight a ridiculous form of the 'feed priced assets' was borne... it was abandoned  in very short order. An element of it was kept - namely the feeds.

The argument that Vitalik has against pure "game-theory market pegged assets" can be found in his Ethereum blog, btw. (October or November, post, I believe)


I repeat what I said - I do encourage or discourage rand paul coin using  pure market pegged assets. It is a hard choice between unproven groundbreaking innovation and a more secure route. This choice is not for me to make or even suggest on Rand Paul Coin's behalf. All  I wanted was, to  make perfectly clear that pure 'market pegged assets'  have never been tested and proven  to not work, as FandangledGizmo  stated.

 
9  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][RPCD] Rand Paul Coin (Deflationary) on: November 27, 2014, 02:17:04 AM
- You need the price feeds because otherwise it doesn't work. (There will be a lot of RandPaulCoin Bulls, willing to short but lower demand for the assets. This results in a peg that doesn't work. BitShares' first crash after they got to a $100 million made them learn this lesson the hard way. Even now BitAssets are able to offer interest, why? Because there is so much competition to short. Without the feeds this would instead translate to your assets being too far below the peg.)

And you know they does not work, how exactly? Somebody told you so?

The price of Bitshares crashed because the original 'market pegged assets' were abandoned and instead BTS now has 'feed priced assets'.

I am not suggesting Rand Paul Coin implementing the real market pegged assets, but those have not been tested in practice by nobody and I am betting that somebody someday will. As early as 2015.

There was a thread on that forum - 'Why Vitalik got the award and BM did not'. Well it is simple in my mind - BM made the biggest discovery and let others (including Vitalik btw)  persuade him that his idea does not work.....
10  Alternate cryptocurrencies / Announcements (Altcoins) / Re: NEM Official Thread - Beta is here/Phase 2 Redemption begins[Updates&Discussion] on: November 05, 2014, 06:46:58 AM
I am pretty sure I am the 100th person asking this, but I have been off for 3+ months, so

my stake was on the NXT exchange. what should I do?
11  Alternate cryptocurrencies / Service Announcements (Altcoins) / Re: BitShares Music + PeerTracks (Pre-sale launch) on: October 15, 2014, 03:40:13 AM
...
testz,
it is this correct?
or not?

thanks

I am not testz, but that is correct.

 Smiley tonyk answer is correct.

thanks tonik and testz :-)

i'm reading on bitsharestalk but nothing ETA for wallet...
any news?

No ETA, but I think they will run the network soon after pre-sale will finish. Maybe we will see few test runs, but if it's 90% clone of BitSharesX it's not necessary.

I do not see the need for the pre-sale to finish before the wallet is released.
But I will follow this with my usual disclaimer - I am not the developer and I have nothing to do with them, other then trusting their words, so far.
12  Alternate cryptocurrencies / Service Announcements (Altcoins) / Re: BitShares Music + PeerTracks (Pre-sale launch) on: October 13, 2014, 08:32:35 PM
i know it is too early..
but i'm following notes subscription on https://blockchain.info/it/charts/received-per-day?timespan=30days&showDataPoints=false&daysAverageString=1&show_header=true&scale=0&address=37X8DHpfiimB7PU5y35rfBcg5Vxj2R6umL

averaging btcs/day on the graph i can see 30btc/day.
if each day are sold 5 millions note, i think 30btc/5 millions --> 600sat each note.

testz,
it is this correct?
or not?

thanks

I am not testz, but that is correct.
13  Alternate cryptocurrencies / Service Announcements (Altcoins) / Re: BitShares Music + PeerTracks (Pre-sale launch) on: October 13, 2014, 06:41:20 PM

Is it only me that thinks this pre-sale is terribly undervalued?

I personally think that not buying into it is the equivalent of not selling 2 pizzas for 10,000 BTC. Only time will tell.
14  Alternate cryptocurrencies / Service Announcements (Altcoins) / Re: BitShares Music + PeerTracks (Pre-sale launch) on: October 11, 2014, 05:00:42 PM
I think I get it in a couple of sentences for the lay person.

Buy/Sell/Trade shares in your favorite bands, artists, groups with the tokens that are created by those bands, artists, and groups through bitshares music DAC.
Buy music through peertracks & possibly cash in some tokens if the band declares 1 token is worth 1 download or something.



I believe, the plan is the token holders to get paid whenever somebody buys a song. In that sense you get paid more when the band sells more songs, as opposed to the price to be determined by the bands themselves.
15  Alternate cryptocurrencies / Service Announcements (Altcoins) / Re: BitShares Music + PeerTracks (Pre-sale launch) on: October 11, 2014, 04:56:32 PM
if this has the bitshares name, does that mean there will be a PTS snapshot for it?

Yes, there was a PTS snapshot, details here: https://bitsharestalk.org/index.php?topic=9387.0

If you're a PTS holder, you should already have some stake in this system.
ok so the snapshot was day before yesterday. to bad i must have missed that info, I would have gotten some PTS back. anyways good luck, sounds interesting, I'll look for it on bter.com.

you bitshares guys should try and do an announce ahead of time here!

It is true you missed the PTS snapshot and they could have announced it earlier. However if you want to have a stake in the Music DAC only, the pre-sale price is a much better deal and you have 50+ days to buy in this way.
16  Alternate cryptocurrencies / Service Announcements (Altcoins) / Re: BitShares Music + PeerTracks (Pre-sale launch) on: October 10, 2014, 09:37:56 PM
I am exited to see this project up and hopefully running soon!

Good Job *kingcob*
17  Alternate cryptocurrencies / Speculation (Altcoins) / Re: BTSX+BitUSD vs NuShares+NuBits - which will win the USD peg war? on: September 30, 2014, 02:46:44 AM
I just did not get why the market rocks?

Isn't it better to have self appointed body that prints NuBits at will... Even if this board does not know what exactly to do with the extra supply, I think they have some ideas...
18  Alternate cryptocurrencies / Altcoin Discussion / Re: BitsharesX is taking Litecoin and Bitcoin down on: August 26, 2014, 04:56:29 AM
I'm having trouble registering my account (and thus being able to buy any BTSX). Please may someone send 1 to: BTSX5rbbxgCW4RvuGhM6H6KZAT483kjRLtbvHV8D4T4pway5bSxa2Y

Thank you in advance

Post it here: https://bitsharestalk.org/index.php?topic=6439

Actually, I just sent you some....
19  Alternate cryptocurrencies / Altcoin Discussion / Re: BitsharesX is taking Litecoin and Bitcoin down on: August 26, 2014, 03:20:09 AM
There was a contest to predict the day btsx would surpass litecoin in market cap.    The prediction i made was this sunday however it looks like it is poised to blow past litecoin a lot sooner than that!  



Mine was about 2h ago!  Smiley
hey tonyk!
ripple got desperate and they just released another 20 billion XRP to leap frog to #3.
magically the price of XRP didnt go down

why is bitshares PTS so much lower than btsx? I thought PTS was the source of all this?

James

Price of PTS will be higher before next snapshot.
but why is PTS 5% of btsx? Is there some direct financial linkage between them?
I am interested in the analysis of the proper ratio between the two

Not one I can think off, at this point in time.
20  Alternate cryptocurrencies / Altcoin Discussion / Re: BitsharesX is taking Litecoin and Bitcoin down on: August 26, 2014, 02:37:25 AM
There was a contest to predict the day btsx would surpass litecoin in market cap.    The prediction i made was this sunday however it looks like it is poised to blow past litecoin a lot sooner than that!   



Mine was about 2h ago!  Smiley
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