Quote from: prophetx on January 19, 2015, 06:59:30 PM

important lessons in investing...

Lesson #1 : don't invest in pie in the sky pipe dreams of uber engineers

(learned this one from an VC teaching a lesson to a young VC, on't name him but it was one of the biggest investments in the 1990s Silicon Valley)

Lesson #2: don't fall in love with investments.

(got this one from an old NYC stock broker who had been managing a very large pool of funds for decades)

You may think about whether you have some emotional attachment to this project, it shows in your post. Remember if it is a round hole, sure you can use a sledge hammer to get that square peg in, but...

Thanks for these useful lessons. Will keep them in mind. The funds invested in this project are funds that aren't a problem to lose

It's reassuring words from ostk tonight, hope it's enough to put some fearmongering to rest.

Quote from: SkryptoDude on January 18, 2015, 05:39:12 PM

Even with my little crypto background it has me dreaming how it might work. This could be absolutely revolutionary and yes I am very excited about it.

A similar application of a concept mentioned that could be nice for 2.0 meta layers (exchanges allowing transfer of fiat off their platform by tokenization of those funds) was announced recently: http://finance.yahoo.com/news/tether-introduces-real-world-currency-160000085.html , explaining the little spike in MSC

Even though some argue these kind of tokens are attempts to negate the potential of cryptocurrency, and are only solving a temporary problem in bitcoin I think as it stands they have real use cases today even as a stopgap to more circular crypto economy.

in an even more simplistic deployment any exchange could allow their own specific fiat withdrawal & deposit with 1:1 fiat-backed tokens represented on CounterParty in the same manner, e.g BITSTAMPUSD, HUOBIRMB etc.

That would be good for users because now they could interact with decentralized exchange like CounterParty using blockchain fiat representations, as long as faith in the issuer remains you wouldn't expect it to fall much below the value it's redeemable by going back to the centralized exchanges. (although in that application your fiat IOU's wouldn't be magically any safer in token form where you own the private key than it is on a database)

There would be cases when being in fiat-backed funds tradeable on the blockchain might well be more desirable than bitcoin, for instance in periods of high volatility or downtrends. If multiple exchanges offered their own tokens, you might also expect trade in the middle layers to level out opportunities for arbitrage resulting in a more uniform bitcoin price. but even with slower trade fills & btc settlements being problematic right now, you might expect the exchange would stand to lose out from trade fees if users were to shift more of their focus onto trading on DEX's.

Something like knoxpayments is a nice fiat onramp, works well even for comparitively decrepid banking systems, it's utilized on exchanges like buttercoin & snapswap gateway for getting fiat into the bitcoin & ripple ecosystem respectively. If somebody could make a business leveraging the processor directly as an onramp (w/ some legal hurdles) or manages to consider technical solutions for bridging digital fiat representations onto counterparty with systems that already store fiat IOU's it would open up some nice interplay opportunities, also it would be nice for the liquidity of the dex, there's many scenarios where settlement in usd, eur etc would be desirable, and in the reverse it could open up an additional exposure market for xcp (or other asset)