You may be correct right now in regards to liquidity, but if crypto currencies are more widely adopted in the future that very well could change. Even now.. take BitsharesX for example.. they had a volume of over 1 million USD today. Sure, it's much more volume than they are likely to have on any given day in the near future, but that is a lot of liquidity.

Anonymous features are not enough to get a crypto currency adopted and to get people to invest in it, you need some other improvements or features. This is what Bitshares did right with bitassets and Dpos, along with Titan (the anonymous feature). http://wiki.bitshares.org/index.php/TITAN

By adding more improvements/features, they can successfully bring in several types of users/investors:

People that like PoS
People that like financial privacy
People that see the value in bitassets
And perhaps people that see the value in 15 second confirmations

In summary... an anonymous feature does not have to be the only selling point of a crypto currency, which would certainly limit the scope of users/investors it can attract, and overtime as crypto currencies are adopted more widely liquidity will be improved across the board for all crypto currencies that are not "dead."

Pretty much. Just ignore all the haters... WE know Bitshares has something great here with bitassets. Let the others kick themselves and cry later because they missed out. As I stated in another thread.. Bitshares certainly has gone up in value very fast, and it very well could crash back down to earth. However, that would not change the fact that bitassets are revolutionary and this is innovation at its finest.

I think buying now is still a steal and you will see a good ROI if you are looking to make a long term investment. If you are looking for short term gains.. You pretty much just have to be lucky or be in the right place at the right time. Crypto currencies are not get rich quick schemes. Purchase something you think will be valuable in the future and just hold onto it.

Btw- El dude hates on everything that isn't Bitcoin/Litecoin too.

I admit my examples are pretty weak. The main point I was trying to make are that there are non nefarious reasons to want financial privacy, and not everyone wants to concede financial privacy to the government just to make millions of dollars. I will do some more brainstorming to provide better examples.

Not many laymen have the skills probably to track addresses, identities, and transactions, but it is certainly possible with a decent amount of success with a properly written algorithm. I know the government is working on such a block chain analysis algorithm, there has even been news articles about Yifu Guo working on it, and I'm sure others are/will as well.

You can query websites for addresses that can be tied to an identity, like bitcointalk profiles, signatures, OTC ratings, posts, etcetera. Then you can query the internet to tie those identities to real life identities. Then query businesses and payment processors to figure out which addresses they are using. Then you query the block chain for all transactions that person has made and analyze who they did business with, etcetera.

It may seem complicated (and it is), it will not work in all cases as people can thwart the algorithms, but I think it is possible to do with a decent success rate. I believe that someone will eventually write such a program and sell it or make it open sourced, THEN the laymen might be able to do it. Unless someone is trying to cover their tracks, but this to me is more about protecting the non tech savvy and/or non privacy savvy people.

Awesome. Thanks for the info. I also just read the links provided earlier ITT and now have a better understanding of what you guys are trying to do.

I am pretty excited about decentralized data storage and it's capabilities. Good luck !!

Yes it seems so

Thanks for the links. I am going to read up on that tonight.

Ya I realized Metadisk/DriveMiner were using the Storj network, but I haven't done any research on them to see what they each are planning and how they are different or if they are competing. At first glance it seems Storj wants to work with Maidsafe, so I guess it's all one big happy family of decentralized storage coins. I think that is great.. Cooperation can only lead to a better product!

Let's get a good Storj versus Maidsafe versus Metadisk versus DriveMiner conversation going.

I am interested in what the differences are and the pros/cons of each.

Is there anyone that has looked closely at all of these and formed an opinion?

Thank you, that is a very nice thing to say. I've received more compliments ITT than I have on these forums since I joined.

I am certain most people either hate me or think I'm an idiot. I stopped caring about what other people think a long time ago, but thank you for letting me know not everyone thinks that.

I may come across as a dick sometimes, but it is only because I am passionate about crypto currencies and want to see them improved, developed, and adopted to their fullest potential. I am actually a very nice person IRL.

The funny thing about Coinmarketcap are the idiots that make their investment decisions based off of it.

Ironically, you are one of the biggest supporters of the ALT coin that benefits most from these types of investors, Litecoin. It goes along with the failure of a mantra that people use to support their chosen crypto currency... that it is "too big to fail."

Doubly ironically, it is mostly Bitcoin and Litecoin supporters I see use this argument.

Triply ironically, it is funny that just about every post you make goes towards benefiting what you have invested in (Bitcoin, Monero, and Litecoin.) Take a step back, look at the big picture, forget about your own self interests for a second, and realize it is crypto currencies like Bitshares that are paving the path to the future of crypto currencies. Coins like this are important for the greater good of crypto currencies by creating, testing, and providing source code for new ideas.

I'm not labeling you as sexist, but you are supporting it in a roundabout way by supporting this thread. I don't think most people posting in this thread are sexist anyways, but do you seriously think this thread is helping Bitcoin in any way? As I said sarcasm is hard to detect over the internet, even if people are mostly joking, it can come across as their true beliefs and turn girls away from conversing here.

My "of course girls use Bitcoin" was directed at the OP/thread title and not you... Sorry you are not that important. I did not seriously expect any mod to lock or delete this thread, nor did I expect it to end with my statement "/endthread". I am not that important either. I just felt something needed to be said about it, so that maybe some dip shit will think about the ramifications of his statements before he types them.

Anyways... you guys can carry on with your scaring away of all the females, I am done here. SausageFest4Lifeeeeee

GTFO. This is what it's like for a girl to go to a Bitcoin meet up: http://www.ariannasimpson.com/this-is-what-its-like-to-be-a-woman-at-a-bitcoin-meetup/

This thread is similar to what she experienced at this Bitcoin meet up, whether the things said are serious or not, as cannot be easily detected over the internet. I grew up mostly with my 2 sisters and my mom, I can understand how they feel and act better then most men I think.

Of fucking course girls use Bitcoins.

/thread

This is such a stupid thread that's full of sexism and ignorance (whether it is serious or not.)

Moderators should do their jobs for once and lock & delete this thread.

You guys are the reason there's not many girls around. I read one account of a woman's experience at a Bitcoin meet up, and it was sickening the way she was treated... exactly as sickening as this thread is.

Are you guys all homosexuals or something? ...(not that there's anything wrong with that... My sister is bi and I am understanding and supportive of GLBT culture and rights, but I just find it hard to believe you guys are all homosexuals)....  Do you want to scare away all the ladies and have eternal Bitcoin sausage fests the rest of your lives?

.................

Lock this thread up please.

*blushes* 

"Using multiple Bitcoin addresses" is not a sufficient solution to privacy issues, because you cannot expect people to help themselves. Some people don't even know how to use Bitcoin-qt, and leave their money sitting on coin base or an exchange just waiting to be hacked or stolen. I have told my mom numerous times she needs to move her Bitcoins off of Coinbase to a cold wallet. I have told her this more than 5 times. Some people are just not good with technology and maybe they are scared they will mess up and lose all their coins.

People like this... Do you really expect them to understand financial privacy implications and proper privacy procedures?? You really expect them to use multiple Bitcoin addresses for every transaction like they should?Even some people that know about privacy implications use the same Bitcoin address for everything. Just look at how many people have a Bitcoin address in their signature that they use for just about everything.

People that have not studied privacy and why it is important to law abiding citizens just don't understand, and most of them never will because they won't take the time to educate themselves. People are lazy and we need to protect these types of people from the bad things that can happen to them due to dumb/lazy privacy practices.

I think some people are too focused on their own self interests and making millions of dollars by investing in crypto currencies. They want to play nice with the government so everything goes smoothly and they can make their millions. Meanwhile, some people actually want what is best for this world and its citizens, and understand the implications of bad privacy practices. The other half are just uneducated on non nefarious reasons for financial privacy.

I agree

Let me give a couple more examples. Let's say your son or daughter is a famous movie star. Some creep is able to link their pseudo anonymous Bitcoin address to their identity. They then analyze his or her transactions and find out they frequent a certain coffee shop. They wait at that coffee shop for them, follow them out, wait until no ones around, and then the creep rapes and kills them.

Two companies are in the model train business, the model train business isn't doing so well, but one of the companies is doing a ton more business volume than the other. The one that is not doing so well creates a program to scan Bitcoin transactions going into the larger company and connect them to phone numbers or email addresses. He then calls or emails those customers offering a discount or "beat any price" deal and steals all of the larger companies customers. Or possibly you don't answer your phone or email, so they spam you until you do or you buy something from them.

Maybe I need to elaborate. All the +1s to the OP make me sick.

People are quick to associate the need for anonymity with illegal or nefarious purposes. However, this is not the case and there are many reasons why a law abiding citizen could want privacy. Let me give you a couple examples (only a couple... I could literally sit here and give examples all night.) I realize these are extreme examples, but that is just so maybe they will convince you. There are many less extreme situations that anonymity could be useful.

Let's say you mom, daughter, or wife is real kinky. She wants to order this super new dildo that has 3 heads, spins, and twists in all sorts of directions. Let us also say that they have someone that doesn't like them. Everyone has at least one person that doesn't like you, right? Anyways.. This person is looking for a way to mess with your loved one, and they find out which Bitcoin address they use. They then see the transaction to an address associated with the sex shop, and using the price, match up which product was bought. They then e-bully your loved one, and tells everyone she knows she bought this dildo, to the point she is completely embarrassed and commits suicide. The non-anonymous transaction in a roundabout way just killed someone you love.

Let's say your 15 year old daughter thinks she may be pregnant. She buys a pregnancy test from an online version of planned parenthood and learns that she is. A smart and aggressive businessman running an online maternity store finds out what address planned parenthood uses to accept payments, and links the senders to their real identities using their pseudo anonymous Bitcoin address. They them send an advertisement through snail mail to your daughter for their maternity products saying "congratulations on your pregnancy, come buy stuff at our store." You her dad go to check the mail, like you do everyday, and find this advertisement in the mail. She had not told you she was pregnant yet, all he'll breaks loose when you confront her, and she gets so upset that she commits suicide. You just lost your daughter and grandchild due to a non-anonymous transaction and pseudo anonymous Bitcoin address. Maybe she could of told you in a better way and broke it to you easier.. or had more time to think about how to approach you and deal with you potential reaction.

No one ever thinks something like this will happen to them, but stuff like this does happen, and I bet if something like this does end up happening to you that you will wish that you supported more anonymous transactions and addresses.

I agree with you on this point. Everyone seems skeptical the system will work as advertised. A US dollar will be worth more than a bitUSD dollar in the immediate future after the market is launched, how long is anyone's guess. A BitUSD dollar will not be equal to a US dollar until two things happen, proper market depth is established (a large number of longs and shorts) and people see the system works and become less skeptical. Much like it is explained in the video.. a GoxDollar is not equal to a Btc-eDollar is not equal to a WellsfargoDollar is not equal to a BitusdDollar is not equal to a real US dollar.  


I agree.. There are a lot of neat things you can do with bitassets if they work as described. It is really exciting.

You've been trolling Bitshares all day. You are not even putting in the effort to understand bitassets. Other posters and I are trying our best to explain it to new users and understand it ourselves. It is complicated, but just because you don't understand it doesn't mean that others can't. It is complicated to learn how Bitcoin works at first too, this is the same, but I think over time it will become more clear as more discussions are had about it and the market goes live.

Go back to the Nxt forums and leave us alone. Sure, BitsharesX may be in a mini bubble due to price rising so fast. That does not mean that this is not a revolutionary idea. Bitcoin and every other crypto currency has gone through many mini bubbles and they are still alive and kicking. So what if BitsharesX price crashes? It does not change the fact bitassets are revolutionary.

OP is retarded

/thread

Yes, the benefit compared to counterparty/mastercoin/etc. is that the value of the commodity is determined in a trust less manner. Someone on Mastercoin can create a "gold" asset and you need to trust them that they have as much gold as they say they do. Bitassets can determine the price of gold in a decentralized manner that requires no trust.

I will admit the dynamics of going long/short can be a bit confusing, but the way it has been described by Daniel I see no reason why it would not work. It is an important experiment, because if it does work it is revolutionary. I personally believe it will work.. or at least it sounds like it will, but I suppose something could happen that no one expects.

I think your assessment of bitusd was correct, X amount of BitsharesX equals 1 bitUSD as determined by the BitsharesX free market. Once the bids(longs) and asks(shorts) fill in, market consensus should be reached similar to how it is on centralized exchanges. Collateral is held and released depending on how the value of BitsharesX moves. Which in theory should keep bitUSD equal to the value of a US dollar. This is the first completely decentralized method of determining the value of a dollar (or any other commodity) as compared to a crypto currency.

This is all new territory for everyone, me included. It seems people are being hesitant to explain this at the risk of sounding like an idiot. I guess I have no shame.. feel free to correct me if I am wrong.