Author Topic: Hello + block rate question  (Read 5168 times)

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Offline testz


Offline CoinaDay

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Awesome! Thanks again to everyone for being so helpful!

The post is now up: http://www.reddit.com/r/CryptoCurrency/comments/2rwrny/coinaday_bitshares/

Offline vikram

Edit 2: I can't find a source giving transaction rates for the last 24 hours (number of transactions and total value of the transactions). I'd definitely appreciate if someone could link me to something like this; otherwise I'll just have to estimate from http://www.bitsharesblocks.com/blocks as best I can.

Please check here: http://www.bitsharesblocks.com/charts

Yep; that's it exactly. Thanks!

I don't suppose you know of a rich list anywhere? I like to get % held by top 100 addresses.

I'm interested in this info also; currently no way but at some point we will get around to doing some basic analysis like this.

Offline biophil

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Perfect; thanks!

One more nuance I'm curious about, as I was writing a bit of description finally and comparing to NXT, which I gave an unfairly hard time because I found assets without a programmatic value to be bullshit. But NXT can support assets which are backed too (although I don't believe it has anything to match the dynamic value / collateral system of the BitAssets). But what I was wondering is if the reverse is true as well: just from a glance at bitsharesblocks, I see that there are a bunch of user-created assets as well. Are these necessarily backed by anything, or can they do the sort of vague "uh, this is a share in a project I'm creating; trust me" thing too? As was pointed out to me by NXT supporters, the support for something like that existing doesn't necessarily mean something bad...I just find it an interesting thing to compare, and personally, won't go near anything like that. :-)

Right, we have two classes of assets in BTS: we call them MPA (market-pegged assets) and UIA (user-issued assets). MPA are the cool ones like BitUSD. UIA are exactly analogous to assets issued on Nxt's Asset Exchange, or to assets issued in Counterparty. At the moment, there isn't any way to "back" UIA with anything but trust.

I'm guessing when you talk about Nxt's "backed" assets you're talking about their new "monetary system." We don't have anything like that in BTS, and frankly I'm glad because I doubt it will ever be very useful. Time will tell.
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Offline svk

Perfect; thanks!

One more nuance I'm curious about, as I was writing a bit of description finally and comparing to NXT, which I gave an unfairly hard time because I found assets without a programmatic value to be bullshit. But NXT can support assets which are backed too (although I don't believe it has anything to match the dynamic value / collateral system of the BitAssets). But what I was wondering is if the reverse is true as well: just from a glance at bitsharesblocks, I see that there are a bunch of user-created assets as well. Are these necessarily backed by anything, or can they do the sort of vague "uh, this is a share in a project I'm creating; trust me" thing too? As was pointed out to me by NXT supporters, the support for something like that existing doesn't necessarily mean something bad...I just find it an interesting thing to compare, and personally, won't go near anything like that. :-)

Yea the user issued assets don't need to be backed by anything, I don't know much about NXT but my impression is they're basically the same as NXT assets. Market issued assets or bitAssets are different as you say, as they are backed by collateral in the form of BTS and supply can only be created via shorting. You can find the collateral ratios for each market asset on bitsharesblocks.

One more thing to take into account is that the fee varies depending on the length of the asset symbol, 5 or less characters costs 500k BTS to register, while longer names only cost 500 BTS. There are currently two "short name" assets registered by users I believe, INDEX and BANK. Someone paid ~7000$ to register those but we don't yet know what their plans are for them.
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Offline CoinaDay

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Perfect; thanks!

One more nuance I'm curious about, as I was writing a bit of description finally and comparing to NXT, which I gave an unfairly hard time because I found assets without a programmatic value to be bullshit. But NXT can support assets which are backed too (although I don't believe it has anything to match the dynamic value / collateral system of the BitAssets). But what I was wondering is if the reverse is true as well: just from a glance at bitsharesblocks, I see that there are a bunch of user-created assets as well. Are these necessarily backed by anything, or can they do the sort of vague "uh, this is a share in a project I'm creating; trust me" thing too? As was pointed out to me by NXT supporters, the support for something like that existing doesn't necessarily mean something bad...I just find it an interesting thing to compare, and personally, won't go near anything like that. :-)

Offline biophil

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This is all very fascinating though, or I wouldn't be putting the time in to engage. I was pretty skeptical (one of my first readings was the bitmarmot stuff which I found hilarious) but I'm starting to see how it can work.

The bitmarmot stuff was pretty funny. One of the most bizarre criticisms of BitShares I've yet seen. I felt pretty sad that so many people seemed to be taking it so seriously. :)

You asked about a rich list, and people told you that we don't have one because of TITAN. I thought I'd explain a little more - the way TITAN works, every single transaction gets a unique address. This makes it very difficult to tell what the balance is in each registered account, since there is no easy way to tell which addresses are owned by which accounts. So we could have a "rich list" of addresses, but it wouldn't be very interesting because the vast majority of addresses are only used one time ever and then thrown away. So a rich list would give you some limited information about recent large transactions, but wouldn't tell you anything at all about who owns what.
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Offline svk

Edit 2: I can't find a source giving transaction rates for the last 24 hours (number of transactions and total value of the transactions). I'd definitely appreciate if someone could link me to something like this; otherwise I'll just have to estimate from http://www.bitsharesblocks.com/blocks as best I can.

Please check here: http://www.bitsharesblocks.com/charts

Yep; that's it exactly. Thanks!

I don't suppose you know of a rich list anywhere? I like to get % held by top 100 addresses.
Because of TITAN we dont have one, the best we've got at the moment is the genesis block for BTS, you can find the top 100 addresses for that under Charts on bitsharesblocks.

Edit: http://www.bitsharesblocks.com/genesis-bts
« Last Edit: January 09, 2015, 10:35:26 pm by testz »
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Offline testz

Edit 2: I can't find a source giving transaction rates for the last 24 hours (number of transactions and total value of the transactions). I'd definitely appreciate if someone could link me to something like this; otherwise I'll just have to estimate from http://www.bitsharesblocks.com/blocks as best I can.

Please check here: http://www.bitsharesblocks.com/charts

Yep; that's it exactly. Thanks!

I don't suppose you know of a rich list anywhere? I like to get % held by top 100 addresses.

I think it's will not be useful due TITAN (stealth-addresses implementation): http://wiki.bitshares.org/index.php/TITAN
But maybe I'm wrong and someone from community will lets us know.  :)

Offline CoinaDay

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Edit 2: I can't find a source giving transaction rates for the last 24 hours (number of transactions and total value of the transactions). I'd definitely appreciate if someone could link me to something like this; otherwise I'll just have to estimate from http://www.bitsharesblocks.com/blocks as best I can.

Please check here: http://www.bitsharesblocks.com/charts

Yep; that's it exactly. Thanks!

I don't suppose you know of a rich list anywhere? I like to get % held by top 100 addresses.

Offline testz

Edit 2: I can't find a source giving transaction rates for the last 24 hours (number of transactions and total value of the transactions). I'd definitely appreciate if someone could link me to something like this; otherwise I'll just have to estimate from http://www.bitsharesblocks.com/blocks as best I can.

Please check here: http://www.bitsharesblocks.com/charts

Offline CoinaDay

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Thank you both very much!

So if I understand this correctly, the design is intended to scale to thousands of transactions per second relatively easily, while it currently could reach 20 transactions per second with a truly tiny tweak, and 10 transactions per second is just written in for convenience / stability at this point.

And it looks like it's nowhere near this right now, so not a major concern in any way. I just always find out because "transaction limit (current)" is one of the items I have for my summary. :-)

Okay, I think I can pretty well do the write-up now. I'll let you guys know if I have any further questions, and I'll link in this thread once I post.

Cheers!

Edit: One additional note: sadly, the client is not working for me. It was syncing and getting close and looked really pretty, but then it up and crashed and I haven't been able to get it to load again. I know XP probably isn't considered supported these days, but it's still disappointing. And I didn't see *nix support for pre-compiled clients on the site. I'm not going to have time to compile my own *nix client today, so it'll be a week or two before I can use the client. Oh well; it's disappointing, but I review most of my "coins" without a client. Still, this and the low transaction volume and the state of the documentation show me a project in its infancy. That's not a horrible thing; it leaves upside potential just from getting basic development going, but there is work to be done. Hopefully I'll end up contributing.

Edit 2: I can't find a source giving transaction rates for the last 24 hours (number of transactions and total value of the transactions). I'd definitely appreciate if someone could link me to something like this; otherwise I'll just have to estimate from http://www.bitsharesblocks.com/blocks as best I can.
« Last Edit: January 09, 2015, 10:10:24 pm by CoinaDay »

Offline testz

Awesome; thanks! And I registered with the faucet. And bought 1900 shares on BTER. I'll withdraw from there once I've got my client synced and I can confirm the account is registered.

Should be coin-a-day.

So...anyone have a good source showing a maximum limit on transactions per block, or stating that there isn't one?

Thanks for the help everyone! I'll really looking forward to digging into this more deeply once I'm back from my trip.

Please check table here, maybe it's helps you: http://wiki.bitshares.org/index.php/BitShares/Why_BitShares

Offline toast

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Awesome; thanks! And I registered with the faucet. And bought 1900 shares on BTER. I'll withdraw from there once I've got my client synced and I can confirm the account is registered.

Should be coin-a-day.

So...anyone have a good source showing a maximum limit on transactions per block, or stating that there isn't one?

Thanks for the help everyone! I'll really looking forward to digging into this more deeply once I'm back from my trip.

Right now the maximum block size is 50k while transactions are about 250 bytes on average. There is also a soft limit of 10 transactions per second enforced at the network layer.
Do not use this post as information for making any important decisions. The only agreements I ever make are informal and non-binding. Take the same precautions as when dealing with a compromised account, scammer, sockpuppet, etc.

Offline CoinaDay

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Awesome; thanks! And I registered with the faucet. And bought 1900 shares on BTER. I'll withdraw from there once I've got my client synced and I can confirm the account is registered.

Should be coin-a-day.

So...anyone have a good source showing a maximum limit on transactions per block, or stating that there isn't one?

Thanks for the help everyone! I'll really looking forward to digging into this more deeply once I'm back from my trip.