Quote from: ThomasVeil on November 30, 2014, 12:13:17 PM

Quote from: brekyrself on November 30, 2014, 04:22:14 AM

I don't quite follow what you are trying to conclude

Bitcoin: Trustless
Bitshares: Respect based

Bitcoin: Conservative development. Decisions based on research
Bitshares: Decisions based on idolizing founders

Bitcoin: Following an ideology
Bitshares: Following profit

Bitcoin: Market cap and inflation predictable for hundreds of years.
Bitshares: Market cap and inflation redecided every couple of months.

Bitcoin: Protocol
Bitshares: Corporation

I'm not saying Bitcoin is perfect - I'm in the alt-section after all. And I'm aware that alts can't always afford the same procedures. But we should thoroughly think about before we throw away key ideas.
Short term rational reasons are not the only thing decisions (i.e. inflating the cap) should be based on. We have to consider if setting such precedent isn't destroying the basis for promoting cryptocurrrencies.

That includes speculators: If they support for example Ripple by buying their coins, then we just might as well promote shares of Bank of America.

Quote from: ThomasVeil on November 30, 2014, 03:30:49 AM

Quote

The founders..., can not exactly just "change" the system at will.

How is it prevented? They did stop the BitAsset markets before and changed the pegging system.
They will not be able to do this once the USD price slips again?

In what respect is Bitcoin trust-less and Bitshares not? From a mining perspective, with btc you are trusting very few pools who have most of the control. More so, anyone with $ can go after the hash race and attempt control of the network. On the Bitshares side with DPOS the stake holders vote on the 101 delegates, if one misbehaves or does not contribute such as providing price feeds for the asset market, stake holders can see this and vote them out immediately.

Conservative development based on research? What research exactly? Decisions on the BitShares side have been made constantly with community feedback. I have listened in on their mumble sessions, visit their message boards, watch their gitbub repository and it's one of the few communities that comes together to continually upgrade the product.

We should all be thankful for Bitcoin which provided the blockchain public ledger. One negative however is the wasteful mining and centralization of hash. You are correct in that BitShares is following the profit as the blockchain itself pays delegates. This is a fantastic development for devs, marketers, etc... to be paid for the work they perform. This should allow BitShares to attract higher quality dev's that will be voted in by users as delegates and paid accordingly. If users are no longer happy with such a delegate they can once again vote them out.

No crypto market cap is predictable for 5 minutes and this is one of the reasons why bit assets have come to existence. Merchants will always be reluctant to use btc because of the volatility however if they accept BitUSD, BitEURO, BitCNY, they will know the value of those will be worth basically the same tomorrow or a year from today! BitShares is a decentralized bank, exchange, and derivatives market all in one.

I would have to say both BTC and BTS are corps. BTC pays miners, BTS pays delegates. BitShares however is much more profitable as there is no wasteful mining and overhead.

To answer your question on stopping the asset market, there are training wheels in place that will bring the market to a halt. Deviation of price feeds, minimum liquidity, minimum price feeds, etc... which in the very beginning were easy to bump into as there were very few users. The dev's put a lot of money into these markets to jump start them and in the beginning if they pulled it out, the market would come to a pause. They have been constantly tweaking the asset rules to provide additional functions, more liquidity, and reduce possible abuse thus everyone wins here. There are tools becoming available to track the market peg however the most accurate way to measure it is with the client itself, not an exchange such as bter until more users jump on board. If you look at the history on the client, the assets have tracked quite nicely! Looking at the client right now there is also over $1 million in BitUSD out in circulation and based on the rules that means there is > $3 million in BitShares backing this as collateral. With this amount there is no way a single user could pull out and bring the market to a halt...