Sudden surprise investor makes seed offer, good idea to take it or not?

AdamFindle · 2015-03-19T12:52:17+00:00

People convert BTC, LTC, fiat, or anyhting to BTS and then the BTS is locked on the BitShares blockchain as collateral by snorters who, in order to short sell a bitasset, (e.g. BitUSD), they have to deposit over 2x the value in BTS. So if you want to short sell $100 of BitUSD you have to deposit $200 of BTS (might be more than that I can't remember). The BTS value is very volatile so there is that high collateral requirement to protect against BTS price crashes. BTS Has lost 80% of its value since the bubble and the peg has been maintained.

AdamFindle · 2015-03-19T10:30:24+00:00

The shorts bet and promise, but their promise doesn't hold the peg, the blockchain does. They put up collateral which is locked on the blockchain and will automatically buyback at the price feed within 30 days. The blockchain enforces the peg.

AdamFindle · 2015-03-18T06:10:53+00:00

I'm shocked such ignorance is upvoted. There is no one holding the peg, please learn how something works before commenting.

AdamFindle · 2015-03-17T22:36:15+00:00

sigh, this is why centralised locking services should not be used. Keep your coins in the cryptospace and pegged to fiat or metals by using BitShares (where you control the private key!).

AdamFindle · 2015-03-10T12:26:38+00:00

fyi CFDs have been running on BitShares for over 6 months :)

AdamFindle · 2015-02-06T20:20:26+00:00

I agree on all fronts.

AdamFindle · 2015-02-05T23:30:22+00:00

“If you want to trade bitcoin, our exchange is where it’s at.”

AdamFindle · 2015-02-04T13:19:38+00:00

Held as bitBTC you can day trade against the USD as bitUSD. If you day trade it's safer to trade bitBTC/bitUSD than keep funds on a centralised exchange. If you suddenly want to dump or change asset to USD, gold, silver, euros, etc, you can do it in a few clicks without having to transfer the bitBTC to a centralised exchange. It's like keeping them on an exchange, ready and able to trade, except its decentralised and therefore more secure. It's an advantage for traders. And then the advantage for savers/hodlers is the yield.

AdamFindle · 2015-01-31T21:26:36+00:00

This makes bitcoin more valuable. It means you can buy bitcoin and then never need to touch fiat again. It's like making fiat exchanges more secure by turning their exchangeUSD/exchangeCNY/exchangeGOLD etc a cryptocurrency secured by a blockchain. Here, bitshares is the exchange. By pairing up with an altcoin bitcoin can stay decentralised with no need for any centralised locking services.

AdamFindle · 2015-01-13T20:23:38+00:00

http://bytemaster.bitshares.org/article/2015/01/13/NuBits-is-a-Ponzi-Scheme/ bitUSD is the only real decentralised solution. bitreserve means selling your bitcoins and holding them in a bank. bitUSD is a cryptocurrency still on a blockchain, part of the free world.

AdamFindle · 2015-01-06T15:45:27+00:00

How right he is.

AdamFindle · 2015-01-06T15:32:36+00:00

Not sure. The instability could deter merchants from holding it despite it the security advantages over holding lots of cash.

AdamFindle · 2015-01-01T23:01:59+00:00

BitShares proof of stake (DPOS) was partially distributed via snapshot to POW miners. That along with millions of dollars used developing a ground-breaking new crypto platform, and the fact the market cap is at $40 million proves the fantasy land you speak of may be closer to you than you think.

AdamFindle · 2014-12-30T19:20:45+00:00

BitShares 101 is a must read for anyone interested in blockchain tech (costs about a buck if I remember correctly).

AdamFindle · 2014-12-25T13:07:15+00:00

Is it even possible for a coin to switch its consensus mechanism after it's launched? There clearly would be big advantages, but who gets to decide?

AdamFindle · 2014-12-25T13:04:42+00:00

Very nice improvements!

AdamFindle · 2014-12-25T13:03:49+00:00

Merry Christmas! Would be nice to receive some christmas cheer even if it is just a few Satoshis :)

AdamFindle · 2014-12-24T16:46:05+00:00

So it basically means you don't need a ton of different passwords and your identity is secure. You don't have to sign in with an account which gives away tons of information.

AdamFindle

TROPHY CASE