Hangout Questions for Bytemaster (Due Friday @ 10:00am EST)

[bubble789]

uhm by how long more roughly? 1 month?

1.0 has been postponed due to BitAssets 3.0...

[toast]

1) Separate block producers, Workers, Feed Producers, and Chain Management (fee setting, block size limits, etc)
2) Make the number of each category voted upon by the stakeholders. 

  this feature is underrated

[Tuck Fheman]

turing complete smart contracts which will be our LAST hard fork.

Is this something Bitshares will be working on alone or are you collaborating with Ian Knowles at CIYAM (http://ciyam.org/at/)? He's scheduled to have the first cross-chain transaction on a mainnet complete before months end between Burst and Qora.

I have been in talks with Ian since the early days of BTS.   I have reviewed his work and consider it superior to Ethereum.  I would likely take an approach similar to his and adopt his code if it gains any traction and is proven.   Performance is my primary consideration as well as simplicity. 

Wow. Color me surprised.

This is great to read and thank you for also pointing out that it's superior to Ethereum, you've made a few other coins happy.

I hope in a few weeks everything goes well and people take notice.

I read in another thread that BitShares has no plans to implement ACCT.

Do you have something else in mind on that front or simply do not believe it's needed for BitShares?

ACCT sounds like a great solution that can be fairly easily implemented by most coins, so I'd love to hear your opinions on ACCT, why it's good/bad/other, why BitShares is not interested (I have an idea, but want to hear yours) and anything else you're willing to share on ACCT (considering this has nothing to do with BitShares). If you're previously expressed opinions on ACCT elsewhere, I'd love to read that too! (links or it didn't happen)

Thanks!

[BunkerChainLabs-DataSecurityNode]

My question to Bytemaster:

How can I in practical terms setup a long term BOND (say 10 years+) product using the BitShares platform as the vehicle to both hold fund and also produce yield for the holders of the bond?

Funds would be accepted in fiat or cyrpto, but the bond itself would be kept in the blockchain. Ideally to some extent be able to allow each bond holder in real time to see their funds and its yield to make it as transparent and reassuring as possible to holders. Would this involve a UIA.. or creating a MIA?

So essentially if I wanted to offer a type of BOND product worldwide, how can I use the BitShares platform, and what challenges do you think I will face?

Finally, is this something that can be done today with 0.9, or is this something that can only be realized in future versions?

Thanks!

[Tuck Fheman]

summer?Means nothing will happen on bitshares this 3-5months.
sell signal.

lzr sells at 2800, continues pushing for others to sell = buy signal.

[Akado]

My question:

Can you give any more details about how we are going to generate more fees to become deflationary again? Is it by more of perfecting the product & making it accessible, or is it by strategic partnerships that cant be disclosed?

We will be making an announcement the first week of June if all goes well after which you will have the answer to your question.   

Are you saying that the inflation will be removed and BitShares will be deflationary like BitSharesX was ?

I think he meant [fees > bts created] so that it becomes deflationary instead of inflationary

[vlight]

My question:

Can you give any more details about how we are going to generate more fees to become deflationary again? Is it by more of perfecting the product & making it accessible, or is it by strategic partnerships that cant be disclosed?

We will be making an announcement the first week of June if all goes well after which you will have the answer to your question.   

Are you saying that the inflation will be removed and BitShares will be deflationary like BitSharesX was ?

[Stan]

My question:

What are the recommended computer specs (ram, etc.) to run the Bitshares client in a stable fashion? Are you satisfied with those requirements?

What is the level the priority to make the client more stable and usable for the average user?

You won't need to ask any of these questions before long.

[Ander]

I have been in talks with Ian since the early days of BTS.   I have reviewed his work and consider it superior to Ethereum.  I would likely take an approach similar to his and adopt his code if it gains any traction and is proven.   Performance is my primary consideration as well as simplicity. 

 

 

I'm working with Ian @ CIYAM, great news

This is awesome.  I hope we can work with Ian to see AT in Bitshares future as a reality.

The only other coins in existence as undervalued as BTS right now are Burst and Qora.

[Chronos]

My question:

What are the recommended computer specs (ram, etc.) to run the Bitshares client in a stable fashion? Are you satisfied with those requirements?

What is the level the priority to make the client more stable and usable for the average user?

[bytemaster]

My question:

Can you give any more details about how we are going to generate more fees to become deflationary again? Is it by more of perfecting the product & making it accessible, or is it by strategic partnerships that cant be disclosed?

We will be making an announcement the first week of June if all goes well after which you will have the answer to your question.     

[cass]

turing complete smart contracts which will be our LAST hard fork.

Is this something Bitshares will be working on alone or are you collaborating with Ian Knowles at CIYAM (http://ciyam.org/at/)? He's scheduled to have the first cross-chain transaction on a mainnet complete before months end between Burst and Qora.

I have been in talks with Ian since the early days of BTS.   I have reviewed his work and consider it superior to Ethereum.  I would likely take an approach similar to his and adopt his code if it gains any traction and is proven.   Performance is my primary consideration as well as simplicity. 

 

 

[bytemaster]

turing complete smart contracts which will be our LAST hard fork.

Is this something Bitshares will be working on alone or are you collaborating with Ian Knowles at CIYAM (http://ciyam.org/at/)? He's scheduled to have the first cross-chain transaction on a mainnet complete before months end between Burst and Qora.

I have been in talks with Ian since the early days of BTS.   I have reviewed his work and consider it superior to Ethereum.  I would likely take an approach similar to his and adopt his code if it gains any traction and is proven.   Performance is my primary consideration as well as simplicity. 

 

[bytemaster]

I have three related questions:

I myself can't see a better system than DPOS for BitAssets but maybe you can. Since you (BM) said on a mumble hangout two weeks ago that the Bitshares team is working on getting the fundamentals right (industrial grade blockchain technology, scaling etc.)...

1) Does the Bitshares team consider any changes to the consensus mechanism (DPOS at the moment)? Bitsaphire has suggested a few very interesting ideas in a mumble session about two weeks ago.
2) Do you see voter apathy as a problem? Voter apathy having two dimensions: a) Quantitative: amount of shares that votes. b) Quantitative: quality of shareholders decisions.
3) How fundamental is the consensus mechanism? How easy / difficult is it to replace it?


If this is better answered on the forum I can open a tread too...

Changes to the consensus system would be minor:

1) Separate block producers, Workers, Feed Producers, and Chain Management (fee setting, block size limits, etc)
2) Make the number of each category voted upon by the stakeholders. 

You cannot vote for there to be more "delegates" than you are willing to specify, though you can vote for there to be less.

This will help scale the number of "delegates" to the actual ability/attention span of the community rather having more delegates than people can evaluate.  This should reduce a vulnerability if 50% of all delegates are "not carefully considered".      Better to have 30 highly vetted delegates than 100 minimally vetted delegates.   

Consensus is easy to "replace" what is hard to replace is "trust" and "governance" which is what BTS has and no one else.   

[Buck Fankers]

turing complete smart contracts which will be our LAST hard fork.

Is this something Bitshares will be working on alone or are you collaborating with Ian Knowles at CIYAM (http://ciyam.org/at/)? He's scheduled to have the first cross-chain transaction on a mainnet complete before months end between Burst and Qora.

[yellowecho]

summer?Means nothing will happen on bitshares this 3-5months.
sell signal.

It's not a sell signal. HODL signal

The difference between an investor and a trader.  Traders chase shiny object while investors sit on gold.

[speedy]

My question:

Can you give any more details about how we are going to generate more fees to become deflationary again? Is it by more of perfecting the product & making it accessible, or is it by strategic partnerships that cant be disclosed?

[santaclause102]

I have three related questions:

I myself can't see a better system than DPOS for BitAssets but maybe you can. Since you (BM) said on a mumble hangout two weeks ago that the Bitshares team is working on getting the fundamentals right (industrial grade blockchain technology, scaling etc.)...

1) Does the Bitshares team consider any changes to the consensus mechanism (DPOS at the moment)? Bitsaphire has suggested a few very interesting ideas in a mumble session about two weeks ago.
2) Do you see voter apathy as a problem? Voter apathy having two dimensions: a) Quantitative: amount of shares that votes. b) Quantitative: quality of shareholders decisions.
3) How fundamental is the consensus mechanism? How easy / difficult is it to replace it?


If this is better answered on the forum I can open a tread too...

[clayop]

summer?Means nothing will happen on bitshares this 3-5months.
sell signal.

It's not a sell signal. HODL signal

[lzr1900]

summer?Means nothing will happen on bitshares this 3-5months.
sell signal.

you never have anything positive to say.  troll troll troll.
you're not an investor, you're a complainer.

you like it or not.
this is truth.

[yellowecho]

summer?Means nothing will happen on bitshares this 3-5months.
sell signal.

you never have anything positive to say.  troll troll troll.
you're not an investor, you're a complainer. 

[lzr1900]

summer?Means nothing will happen on bitshares this 3-5months.
sell signal.

[zerosum]

BitUSD 3.0 will be different than BitUSD

Combined with the statement that they will exist in parallel  = very very bad idea!

the old bitUSD and (short bitUSD) should have a way to exit...if both systems exist in parallel it should be the same bitUSD to let them do just that.

[arhag]

I think hard forks should be few and far between so everyone can rely on a stable platform rather than a moving target.

Agreed, but that is very different than "our LAST hard fork".

Also, as long as the API for Turing complete smart contacts (or DApps, etc.) does not change with the hard fork, I see no problem with having hard forks as frequently as once a year (if there is something worth to update that is). Changes of that nature would not affect any of the work other developers have done to build on top of BitShares but could provide much needed improvements to the protocol.

[bytemaster]

When we announce the roadmap will be included... but it will only have 1 item on it and that is turing complete smart contracts which will be our LAST hard fork.

That's a ridiculous statement. Unless by "our LAST hard fork" you mean the last one done with a hard fork block number decided by the core devs in an update to the client instead of through a decentralized hard fork voting mechanism built into the blockchain protocol.

I can think of so many improvements to the BitShares protocol for the future which simply cannot be replicated with Turing complete smart contracts (and some are more than just improvements to the consensus protocol). The LAST hard fork of BitShares will occur when BitShares is on a steep downward path to insignificance and obsolescence. Until then hard forks are how the protocol improves and stays relevant against the competition (of course not too frequently as it matures). Even protocols critical to the Internet infrastructure need to be updated from time to time (e.g. IPv4 to IPv6).

I think hard forks should be few and far between so everyone can rely on a stable platform rather than a moving target.   There is no point in hard-forking to add new features if the core features are not being utilized.

[arhag]

When we announce the roadmap will be included... but it will only have 1 item on it and that is turing complete smart contracts which will be our LAST hard fork.

That's a ridiculous statement. Unless by "our LAST hard fork" you mean the last one done with a hard fork block number decided by the core devs in an update to the client instead of through a decentralized hard fork voting mechanism built into the blockchain protocol.

I can think of so many improvements to the BitShares protocol for the future which simply cannot be replicated with Turing complete smart contracts (and some are more than just improvements to the consensus protocol). The LAST hard fork of BitShares will occur when BitShares is on a steep downward path to insignificance and obsolescence. Until then hard forks are how the protocol improves and stays relevant against the competition (of course not too frequently as it matures). Even protocols critical to the Internet infrastructure need to be updated from time to time (e.g. IPv4 to IPv6).

[Empirical1.2]

How concrete is "this summer"? I remember quite a few things were supposed to be coming "last December" that never materialized...also, summer is kind of broad. I like to think of summer as being here as soon as the sun comes out (May - June), but summer can technically be considered active until late September or so.

"This summer" will end up being mid 2016, just like "1.0 by christmas" is Dec 25, 2015.

'Oh, you thought we meant Northern Hemisphere summer!?' 

- how long are your monday meetings?
- what can possible be more important than non-classified talk? ( )
- how is the bitasset3.0 proposal implemented in parallel to bitassets1.0?
- will it be the "same" market/asset just an extra set of features? or will it be a different token?
- will bitassets3.0 be a 1.0 feature?
- when will we have a rough roadmap that can be put on the webpage?

Monday meetings are from 10 am through lunch. 
We will share those plans with you once we get everything ready for public consumption (this summer)
BitUSD 3.0 will be different than BitUSD
1.0 has been postponed due to BitAssets 3.0...
We will have a documented, tested, stable protocol definition this summer that will not need to change that includes the referral system

We are implementing the "implement then announce" rather than the "announce and then implement" approach to avoid missing deadlines and killing buzz or confusing the market.   When we announce the roadmap will be included... but it will only have 1 item on it and that is turing complete smart contracts which will be our LAST hard fork.

BitUSD is like...



BitUSD 3.0 is the one that will actually sell

[Ander]

How concrete is "this summer"? I remember quite a few things were supposed to be coming "last December" that never materialized...also, summer is kind of broad. I like to think of summer as being here as soon as the sun comes out (May - June), but summer can technically be considered active until late September or so.

"This summer" will end up being mid 2016, just like "1.0 by christmas" is Dec 25, 2015.

[nomoreheroes7]

- how long are your monday meetings?
- what can possible be more important than non-classified talk? ( )
- how is the bitasset3.0 proposal implemented in parallel to bitassets1.0?
- will it be the "same" market/asset just an extra set of features? or will it be a different token?
- will bitassets3.0 be a 1.0 feature?
- when will we have a rough roadmap that can be put on the webpage?

Monday meetings are from 10 am through lunch. 
We will share those plans with you once we get everything ready for public consumption (this summer)
BitUSD 3.0 will be different than BitUSD
1.0 has been postponed due to BitAssets 3.0...
We will have a documented, tested, stable protocol definition this summer that will not need to change that includes the referral system

We are implementing the "implement then announce" rather than the "announce and then implement" approach to avoid missing deadlines and killing buzz or confusing the market.   When we announce the roadmap will be included... but it will only have 1 item on it and that is turing complete smart contracts which will be our LAST hard fork.

How concrete is "this summer"? I remember quite a few things were supposed to be coming "last December" that never materialized...also, summer is kind of broad. I like to think of summer as being here as soon as the sun comes out (May - June), but summer can technically be considered active until late September or so.

[bytemaster]

- how long are your monday meetings?
- what can possible be more important than non-classified talk? ( )
- how is the bitasset3.0 proposal implemented in parallel to bitassets1.0?
- will it be the "same" market/asset just an extra set of features? or will it be a different token?
- will bitassets3.0 be a 1.0 feature?
- when will we have a rough roadmap that can be put on the webpage?

Monday meetings are from 10 am through lunch. 
We will share those plans with you once we get everything ready for public consumption (this summer)
BitUSD 3.0 will be different than BitUSD
1.0 has been postponed due to BitAssets 3.0...
We will have a documented, tested, stable protocol definition this summer that will not need to change that includes the referral system

We are implementing the "implement then announce" rather than the "announce and then implement" approach to avoid missing deadlines and killing buzz or confusing the market.   When we announce the roadmap will be included... but it will only have 1 item on it and that is turing complete smart contracts which will be our LAST hard fork.

will the basic performance still be improved before 1.0 ?

By 1.0 performance problems will be a thing of the past.

[Ander]

We are implementing the "implement then announce" rather than the "announce and then implement" approach to avoid missing deadlines and killing buzz or confusing the market.   When we announce the roadmap will be included... but it will only have 1 item on it and that is turing complete smart contracts which will be our LAST hard fork.

Good plan.

[btswildpig]

- how long are your monday meetings?
- what can possible be more important than non-classified talk? ( )
- how is the bitasset3.0 proposal implemented in parallel to bitassets1.0?
- will it be the "same" market/asset just an extra set of features? or will it be a different token?
- will bitassets3.0 be a 1.0 feature?
- when will we have a rough roadmap that can be put on the webpage?

Monday meetings are from 10 am through lunch. 
We will share those plans with you once we get everything ready for public consumption (this summer)
BitUSD 3.0 will be different than BitUSD
1.0 has been postponed due to BitAssets 3.0...
We will have a documented, tested, stable protocol definition this summer that will not need to change that includes the referral system

We are implementing the "implement then announce" rather than the "announce and then implement" approach to avoid missing deadlines and killing buzz or confusing the market.   When we announce the roadmap will be included... but it will only have 1 item on it and that is turing complete smart contracts which will be our LAST hard fork.

will the basic performance still be improved before 1.0 ?

[bytemaster]

- how long are your monday meetings?
- what can possible be more important than non-classified talk? ( )
- how is the bitasset3.0 proposal implemented in parallel to bitassets1.0?
- will it be the "same" market/asset just an extra set of features? or will it be a different token?
- will bitassets3.0 be a 1.0 feature?
- when will we have a rough roadmap that can be put on the webpage?

Monday meetings are from 10 am through lunch. 
We will share those plans with you once we get everything ready for public consumption (this summer)
BitUSD 3.0 will be different than BitUSD
1.0 has been postponed due to BitAssets 3.0...
We will have a documented, tested, stable protocol definition this summer that will not need to change that includes the referral system

We are implementing the "implement then announce" rather than the "announce and then implement" approach to avoid missing deadlines and killing buzz or confusing the market.   When we announce the roadmap will be included... but it will only have 1 item on it and that is turing complete smart contracts which will be our LAST hard fork. 

[bytemaster]

Have any BitShares devs played with the Ethereum code base?  What were their takeaways relative to BitShares?


Sent from my iPhone using Tapatalk

I have looked through their VM code and can tell you with certainty that their architecture is very heavy and will suffer from many issues we have identified and resolved in our designs.    Performance is going to be critical going forward.  I am more concerned about Ripple/Stellar than ETH.

[carpet ride]

Have any BitShares devs played with the Ethereum code base?  What were their takeaways relative to BitShares?


Sent from my iPhone using Tapatalk

[Bitcoinfan]

Being upfront when I'm saying I'm not against privatized bitassets.  However  it does seem like if we go in this direction this means Delegate Bitusd and Bitgold..etc will go away.  And this is an area of concern as our our core competency/ advantage will go with it.  Now it becomes something that can be easily reproducible and stolen by other competitors.   Rune himself is building on the pyethereum code base and remarks how fast and easy it is to do. If he, with just an IT background can do this on ethereum, what's to say all the sophisticated features of Bitshares won't also be developed on Ethereum by just causally invested coders. 

And why are you optimistic about the prospects of Bitshares succeeding over other products, when privatized Bitasset feeds can and will likely be copied?  Why do you think Bitshares will have an advantage over Ethereum?  How does Bitshares protect its goodwill?

[xeroc]

- how long are your monday meetings?
- what can possible be more important than non-classified talk? ( )
- how is the bitasset3.0 proposal implemented in parallel to bitassets1.0?
- will it be the "same" market/asset just an extra set of features? or will it be a different token?
- will bitassets3.0 be a 1.0 feature?
- when will we have a rough roadmap that can be put on the webpage?

[fuzzy]

Ask them below!

And don't forget to join us and never forget...your voice counts. 

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