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Offline karnal

Proposal: add the bitDOGE market-pegged asset
« on: February 25, 2015, 08:48:58 PM »

I hereby propose that bitDOGE be added:

- DOGE is one of the oldest altcoins, has a vibrant and resourceful community (https://www.youtube.com/watch?v=1Jxmdny8AlI .. who else!)

- Is usually right below bitshares in terms of market cap: https://coinmarketcap.com/

- Is frequently traded as seen in https://bitinfocharts.com/ (eclipses even litecoin, by far)

- Has over 80K reddit subscribers and a very active subreddit, second only to bitcoin.


Given how viral the doge community tends to be, I believe this would be a win-win situation for us and them. It would generate publicity for both communities and teach the big, loyal dogecoin community about bitshares, whom I'm sure will be more than happy to use bitDOGE as well.

DOGE seems to be holding pretty well even amidst bitcoin chaos, the resistance is strong on price drops.

As it lacks staking, it is also useful, in my view, to allow doge holders to hold bitDOGE instead and put their hard earned Ð to work.


They're such a wonderful community who's done such amazing things in the history of crypto so far. Please consider!

Offline santaclause102

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Re: Proposal: add the bitDOGE market-pegged asset
« Reply #1 on: February 25, 2015, 08:56:23 PM »
Advertise as: "earn interest with a doge derivative"  :)

Offline BunkerChain Labs

Re: Proposal: add the bitDOGE market-pegged asset
« Reply #2 on: February 26, 2015, 02:53:43 AM »
You should talk to fuz. This is like music to his ears.
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Offline svk

Re: Proposal: add the bitDOGE market-pegged asset
« Reply #4 on: February 26, 2015, 10:16:37 AM »
I support this as an easy way to attract interest from a huge community. I also think we should add Ripple as a market pegged asset. The best solution would be to simply replace OIL and DIESEL with DOGE and XRP in a future hard-fork. Those two are proving impossible to get started and we'd be much better off having Ripple and Doge.
« Last Edit: February 26, 2015, 10:25:01 AM by svk »
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Offline santaclause102

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Re: Proposal: add the bitDOGE market-pegged asset
« Reply #5 on: February 26, 2015, 10:22:49 AM »
I support this as an easy way to attract interest from a huge community. I also think we should add Ripple as a market pegged asset. The best solution would be to simply replace OIL and DIESEL with DOGE and RPY in a future hard-fork. Those two are proving impossible to get started and we'd be much better off having Ripple and Doge.
what do you mean by a future hard fork?

Offline svk

Re: Proposal: add the bitDOGE market-pegged asset
« Reply #6 on: February 26, 2015, 10:25:40 AM »
I support this as an easy way to attract interest from a huge community. I also think we should add Ripple as a market pegged asset. The best solution would be to simply replace OIL and DIESEL with DOGE and RPY in a future hard-fork. Those two are proving impossible to get started and we'd be much better off having Ripple and Doge.
what do you mean by a future hard fork?

A client update requiring a hard fork, like most of the client updates.
Worker: dev.bitsharesblocks

Offline santaclause102

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Re: Proposal: add the bitDOGE market-pegged asset
« Reply #7 on: February 26, 2015, 10:36:07 AM »
I support this as an easy way to attract interest from a huge community. I also think we should add Ripple as a market pegged asset. The best solution would be to simply replace OIL and DIESEL with DOGE and RPY in a future hard-fork. Those two are proving impossible to get started and we'd be much better off having Ripple and Doge.
what do you mean by a future hard fork?

A client update requiring a hard fork, like most of the client updates.
I thought a Bitasset can be created by anyone -> then needs 51 price feeds for it -> then it has a market.
Is it instead that the developers  decide what Bitassets there are?

And why doesnt it say here that BitGOLD is an ounce of Gold?
« Last Edit: February 26, 2015, 10:38:40 AM by delulo »

Offline svk

Re: Proposal: add the bitDOGE market-pegged asset
« Reply #8 on: February 26, 2015, 10:38:22 AM »
I support this as an easy way to attract interest from a huge community. I also think we should add Ripple as a market pegged asset. The best solution would be to simply replace OIL and DIESEL with DOGE and RPY in a future hard-fork. Those two are proving impossible to get started and we'd be much better off having Ripple and Doge.
what do you mean by a future hard fork?

A client update requiring a hard fork, like most of the client updates.
I thought a Bitasset can be created by anyone -> then needs 51 price feeds for it -> then it has a market.
Is it instead the developers (Vikram) decides what Bitassets there are?

No you're right, anyone can create them, but to make XRP you need to pay 500k BTS in order to make an asset you have no control over, so it'll never happen.

However we used to have PPC, LTC and others but those were changed in a hard-fork and replaced with DIESEL and OIL. What I'm proposing is to remove the useless OIL and DIESEL assets and replace them with something useful.
Worker: dev.bitsharesblocks

Offline santaclause102

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Re: Proposal: add the bitDOGE market-pegged asset
« Reply #9 on: February 26, 2015, 10:40:00 AM »
I support this as an easy way to attract interest from a huge community. I also think we should add Ripple as a market pegged asset. The best solution would be to simply replace OIL and DIESEL with DOGE and RPY in a future hard-fork. Those two are proving impossible to get started and we'd be much better off having Ripple and Doge.
what do you mean by a future hard fork?

A client update requiring a hard fork, like most of the client updates.
I thought a Bitasset can be created by anyone -> then needs 51 price feeds for it -> then it has a market.
Is it instead the developers (Vikram) decides what Bitassets there are?

No you're right, anyone can create them, but to make XRP you need to pay 500k BTS in order to make an asset you have no control over, so it'll never happen.

However we used to have PPC, LTC and others but those were changed in a hard-fork and replaced with DIESEL and OIL. What I'm proposing is to remove the useless OIL and DIESEL assets and replace them with something useful.
Ok. that makes sense.
And why doesnt it say here that BitGOLD is an ounce of Gold?

Offline svk

Re: Proposal: add the bitDOGE market-pegged asset
« Reply #10 on: February 26, 2015, 10:41:17 AM »
I support this as an easy way to attract interest from a huge community. I also think we should add Ripple as a market pegged asset. The best solution would be to simply replace OIL and DIESEL with DOGE and RPY in a future hard-fork. Those two are proving impossible to get started and we'd be much better off having Ripple and Doge.
what do you mean by a future hard fork?

A client update requiring a hard fork, like most of the client updates.
I thought a Bitasset can be created by anyone -> then needs 51 price feeds for it -> then it has a market.
Is it instead the developers (Vikram) decides what Bitassets there are?

No you're right, anyone can create them, but to make XRP you need to pay 500k BTS in order to make an asset you have no control over, so it'll never happen.

However we used to have PPC, LTC and others but those were changed in a hard-fork and replaced with DIESEL and OIL. What I'm proposing is to remove the useless OIL and DIESEL assets and replace them with something useful.
Ok. that makes sense.
And why doesnt it say here that BitGOLD is an ounce of Gold?

Where? The asset description for GOLD is "1 troy ounce .999 fine gold"

http://bitsharesblocks.com/asset/info?asset=GOLD
Worker: dev.bitsharesblocks

Offline santaclause102

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Re: Proposal: add the bitDOGE market-pegged asset
« Reply #11 on: February 26, 2015, 10:51:01 AM »
I support this as an easy way to attract interest from a huge community. I also think we should add Ripple as a market pegged asset. The best solution would be to simply replace OIL and DIESEL with DOGE and RPY in a future hard-fork. Those two are proving impossible to get started and we'd be much better off having Ripple and Doge.
what do you mean by a future hard fork?

A client update requiring a hard fork, like most of the client updates.
I thought a Bitasset can be created by anyone -> then needs 51 price feeds for it -> then it has a market.
Is it instead the developers (Vikram) decides what Bitassets there are?

No you're right, anyone can create them, but to make XRP you need to pay 500k BTS in order to make an asset you have no control over, so it'll never happen.

However we used to have PPC, LTC and others but those were changed in a hard-fork and replaced with DIESEL and OIL. What I'm proposing is to remove the useless OIL and DIESEL assets and replace them with something useful.
Ok. that makes sense.
And why doesnt it say here that BitGOLD is an ounce of Gold?

Where? The asset description for GOLD is "1 troy ounce .999 fine gold"

http://bitsharesblocks.com/asset/info?asset=GOLD
There it is. It was not blue like the rest of the fields/text so I overloked it. But I also have say to I easily overlooks such things https://bitsharestalk.org/index.php?topic=14423.msg187633#msg187633 :)

Offline matt608

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Re: Proposal: add the bitDOGE market-pegged asset
« Reply #12 on: February 26, 2015, 12:33:27 PM »
I support this as an easy way to attract interest from a huge community. I also think we should add Ripple as a market pegged asset. The best solution would be to simply replace OIL and DIESEL with DOGE and RPY in a future hard-fork. Those two are proving impossible to get started and we'd be much better off having Ripple and Doge.
what do you mean by a future hard fork?

A client update requiring a hard fork, like most of the client updates.
I thought a Bitasset can be created by anyone -> then needs 51 price feeds for it -> then it has a market.
Is it instead the developers (Vikram) decides what Bitassets there are?

No you're right, anyone can create them, but to make XRP you need to pay 500k BTS in order to make an asset you have no control over, so it'll never happen.

However we used to have PPC, LTC and others but those were changed in a hard-fork and replaced with DIESEL and OIL. What I'm proposing is to remove the useless OIL and DIESEL assets and replace them with something useful.

Why replace them?  A way to get feeds might be found.  Is there a limit to the number of BitAssets the system can support?

Also I doubt BitALTs will get the support of their communities because they compete with the real coin.  I wouldn't want there to be a BitDoge on BitShares if I held dogecoin.  The real coin needs to be locked up as collateral so that it's not a form of inflation. 

Offline karnal

Re: Proposal: add the bitDOGE market-pegged asset
« Reply #13 on: February 26, 2015, 05:13:01 PM »
Do they compete with the real coin necessarily?

With DOGE, LTC or DRK, you can't earn interest. Either I still don't understand something elementary (completely possible, even likely!) or this is a no brainer - assuming enough volume, one can get the original amount plus any interest as BTS, which can then be used to buy the altcoin again - and ending up with more (& more valuable) than the initial investment.

Seems like a killer combo to me.


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I was under the impression that 51 delegates publishing the feed was all that was necessary for this to move through. Is this not the case then?

If so, I strongly, strongly suggest that these be added:

- bitDOGE
- bitLTC
- bitDRK

Vericoin looks interesting but it also does staking, so it complicates the situation somewhat. Ditto for Peercoin. Vertcoin might be worth looking into as well, but like Vericoin, it's barely traded right now, so it offers no advantage.

In the case of Peercoin also keep in mind that the transaction fee is fixed at (afair) 0.01, which should the coin valuate, will quickly become expensive. Seems to me that it's meant more as a savings account kind of thing.

Litecoin is as obvious a choice as Dogecoin, even if technologically speaking (much like DOGE, actually) it's no longer got a lot going for it. It's undeniable that it's (LTC) seen good adoption, however.

DOGE is still going strong as well, and adding bitDOGE would give us AND them good publicity.

Have you guys looked into bitvc/okcoin ? How much litecoin lending/borrowing and saving (they offer a flexible savings plan funded from trading fees and what not, for bitcoin a fixed one which offers much greater interest) is done there?

Move just a small part of all the savers there over to us, and allow the DOGE and DRK guys to do the same.. inform their communities of how to take advantage of this... and I see very bright days ahead indeed.

 

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