Author Topic: Internalizing the Hero  (Read 4716 times)

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Offline Stan

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Much appreciated.  Clearly its been well tested as a private asset for over a year now and well publicized in many ways as well.  If bitUSD is popular, bitHERO should be as well.  Naturally, in a bear market there is less interest in shorting them into existence, which is why I spend my time trying to bring new products like this to BitShares - to stimulate interest in the ecosystem.  Naturally there is a chicken-and-egg issue in bootstrapping any asset, but moving it into the family of bitAssets is the natural next step.
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Offline sschiessl

Thanks for the input. I will do some background digging before I can have a proper opinion.

Offline fav

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Transferring an asset's ownership to committee-account doesn't mean the committee nor any witness is responsible to maintain it.

this. I have no interest in supporting HERO.

Offline Troglodactyl

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If witnesses are already providing bitUSD fees then HERO feeds cost almost nothing.  It doesn't depend on any other data.  Providing feeds should not be considered an endorsement of or commitment to support any third party's secondary plans for the token beyond the features of the bitAsset protocol.

However, the current health of the HERO bitAsset is questionable and if the witnesses are given control of the feeds I think they should gradually increase the MSSR percentage also.  Since HERO is scheduled to appreciate, it consistently trades at a premium which often exceeds the MSSR, resulting in under-collateralized positions and a risk of failure.

Offline montpelerin

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1. What are the costs of providing Hero price feeds?

2. If ownership by committee-account does not denote a degree of "official" status, it may be a good time to clarify that definition.

3. The Hero Project appears beneficial to the Bitshares ecosystem - are there any arguments against it?...or against the limited support of proving price feeds (assuming negligible cost)?





Offline abit

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Transferring an asset's ownership to committee-account doesn't mean the committee nor any witness is responsible to maintain it.
BitShares committee member: abit
BitShares witness: in.abit

Offline sschiessl

I guess official is the wrong word.

The UI highlights committee account owned Smartcoins with "bit" in the front, which symbolizes for me a higher level of trust in it. This makes it special compared to other SmartCoins as the committee governance reduces risk of abuse. (Where is the Lambo fav? :))

Was the hero always committee owned?
« Last Edit: July 13, 2018, 08:31:26 pm by sschiessl »

Offline fav

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As an official bitAsset I agree that this needs to be advertised as it insinuates a level of confidence in the feed.

how was it declared "official"?

Offline sschiessl

Your post made me curious so I checked. Right now 7 committee members or witnesses (haven't checked which is which) are providing price feed.

As an official bitAsset I agree that this needs to be advertised as it insinuates a level of confidence in the feed.

Offline Stan

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Hey guys, now that the bitHero has been an official bitAsset for a while, shouldn't we ask the witnesses to publish the price feeds as well as the volunteers who've been nice enough to do that for us in the first year?

Xeroc wrote the standard feed code and its been tested for a year now.

Anything said on these forums does not constitute an intent to create a legal obligation or contract of any kind.   These are merely my opinions which I reserve the right to change at any time.