Author Topic: An old NXTer, Newbie here!  (Read 17758 times)

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Offline sepehr

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I'm ready to create BitIRR and pay 200k BTs for it.
1- How many BitIRR will be created? Do I should decide for that?
2- Do I should create it through CLI?
3- Is that all of this Asset at the beginning belong to account created it?
4- How can I  or any other Iranian entity can be a gateway for this asset?
5- How many witnesses should convince to publish prices? 51?


1) None will be created! Please read the whitepaper at docs.bitshares.eu/
2) bitassets can currently only be created through CLI wallet
3) BITassets belong to the network .. only "privatized" bitassets belong to
   someone else
4) That's mostly a legal and liquidity issue. You should definitely have some
   technician that has alot of knowledge about the bts blockchain.
5) Not, sure .. but I think you need at least 51%(!) .. so just a few.
 
6. Is it required for BitIRR to have price  updates only in BTS?
7. Is it possible to have it in BTC or USD or something else?
8. Or is it possible that we have absolutely no price updates? Only gateways act and deposit and withdraw IRR in 1:1 basis
9. How is the bitIRR asset created
10. how is it support by comunity
11. how is it deposit and withdraw by gateways.


6) Yes. Required!
7) you can trade it against USD or BTC .. your choice, but you need to borrow it
   from the network using BTS! (* this is only true for MPA, not for privatized
   bitassets)
8) Not possible. You are asking for an "I owe you" (IOU)
9) It's a special command and no actual documentation is really available
   besides the code comments.
10) bitUSD is well supported .. what do you mean?
11) Via BitShares account

Replies to items 5, 6 & 7 convinced me to check Ethereum!
Why is it required for a pegged asset to only be priced with BTS? Why not BTC?
I even convinced that as the pegged asset supported by the community it should be confirmed by 51 Authority, it's hard but ok, I accept it.
But why only in BTS? I cannot understand any reason other the vision to grow BTS price and that's not my target! ;)

Offline Akado

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Got it! User Issued Assets! Thanks Sepehr! :)
What are you planning to do with your UIA?  :)
I want to issue a pegged asset to fiat, My local country fiat(IRR), and I understood that I need to attract confirmation from 51+ of important guys from community.
By the way if that is the way I'm ready to do that.
I want "BitIRR"! If I could not do that I will Issue a UIA and I support pegged asset to fiat myself!

Remember if you create a MPA (Market Pegged Asset), you will need to short it into existence and that requires a high collateral, which is a restriction to many, so they choose by going with a UIA like OPENBTC, METABTC, etc (Openledger's and Metaexchange's BTC assets).
https://metaexchange.info | Bitcoin<->Altcoin exchange | Instant | Safe | Low spreads

Offline kenCode

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Offline Samupaha

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Read these pages from Bitshares.org to get a clearer picture what can be done:
Price-Stable Cryptocurrencies
User-Issued Assets

A little warning: documentation is still far from satisfactory so it might be hard to fully understand all asset possibilities, requirements and risks. If you are considering privatized smartcoin, you should know that nobody has done that yet so it is difficult to know what would be the best parameters for the asset. First one to do it will have to go by trial and error which might be expensive (unless you really know what you are doing).

Maybe you could start by offering assets that already exists, like bitUSD? With it you could familiarize yourself with Bitshares and understand better how it works. When you have the exchange working and preferably a few customers, you have better possibilities to launch succesfully the bitIRR.

Offline xeroc

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I'm ready to create BitIRR and pay 200k BTs for it.
1- How many BitIRR will be created? Do I should decide for that?
2- Do I should create it through CLI?
3- Is that all of this Asset at the beginning belong to account created it?
4- How can I  or any other Iranian entity can be a gateway for this asset?
5- How many witnesses should convince to publish prices? 51?


1) None will be created! Please read the whitepaper at docs.bitshares.eu/
2) bitassets can currently only be created through CLI wallet
3) BITassets belong to the network .. only "privatized" bitassets belong to
   someone else
4) That's mostly a legal and liquidity issue. You should definitely have some
   technician that has alot of knowledge about the bts blockchain.
5) Not, sure .. but I think you need at least 51%(!) .. so just a few.
 
6. Is it required for BitIRR to have price  updates only in BTS?
7. Is it possible to have it in BTC or USD or something else?
8. Or is it possible that we have absolutely no price updates? Only gateways act and deposit and withdraw IRR in 1:1 basis
9. How is the bitIRR asset created
10. how is it support by comunity
11. how is it deposit and withdraw by gateways.


6) Yes. Required!
7) you can trade it against USD or BTC .. your choice, but you need to borrow it
   from the network using BTS! (* this is only true for MPA, not for privatized
   bitassets)
8) Not possible. You are asking for an "I owe you" (IOU)
9) It's a special command and no actual documentation is really available
   besides the code comments.
10) bitUSD is well supported .. what do you mean?
11) Via BitShares account

Offline kenCode

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You need to
1) create a market pegged asset (bitasset) --- very expensive right now
2) convince the witnesses to publish prices
I can certainly add IRR to my price feed script .. but will do only AFTER the asset has been created (which, is rather expensive right now, 200k BTS for Lifetime members)
I'm ready to create BitIRR and pay 200k BTs for it.
1- How many BitIRR will be created? Do I should decide for that?
2- Do I should create it through CLI?
3- Is that all of this Asset at the beginning belong to account created it?
4- How can I  or any other Iranian entity can be a gateway for this asset?
5- How many witnesses should convince to publish prices? 51?

paging @xeroc for those questions..
 
6. Is it required for BitIRR to have price  updates only in BTS?
7. Is it possible to have it in BTC or USD or something else?
8. Or is it possible that we have absolutely no price updates? Only gateways act and deposit and withdraw IRR in 1:1 basis
9. How is the bitIRR asset created
10. how is it support by comunity
11. how is it deposit and withdraw by gateways.

paging @xeroc for those questions..
 
#10 - I will be able to help you promote it, and I know the team at CNX (Cryptonomex) will be able to publish some media announcements as well. The more we help you, the more it helps us all, so trust me when I say, the Bitshares community here is with you every step of the way. :)
kenCode - Decentraliser @ Agorise
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Offline sepehr

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Is it required for BitIRR to have price  updates only in BTS?
Is it possible to have it in BTC or USD or something else?
Or is it possible that we have absolutely no price updates? Only gateways act and deposit and withdraw IRR in 1:1 basis

Thanks,
Sepehr
« Last Edit: November 15, 2015, 02:21:09 pm by sepehr »

Offline sepehr

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You need to
1) create a market pegged asset (bitasset) --- very expensive right now
2) convince the witnesses to publish prices
I can certainly add IRR to my price feed script .. but will do only AFTER the asset has been created (which, is rather expensive right now, 200k BTS for Lifetime members)

200k BTS (~660€) is a lot of money, but starting the market-pegged cryptocurrency for Iran is a HUGE deal.
 
I see a LOT of potential for bitIRR, so if @sepehr needs the financial assistance and is serious about this, then I am willing to loan 10,000 BTS towards its creation if I can get paid back in a few months (no profit needed). Maybe the rest of the community here would be willing to pitch in some BTS as well??

Thanks for your generous offer dear @kenCode , I value it as a good friendship between us. And will let you know if I seriously decided to do so. FYI, I'm still not clear about how exactly BitIRR will work. How is the asset created how is it support by comunity and how is it deposit and withdraw by gateways. once I could be clear enough, I think 660€ is not so big deal to take action of it.

Offline sepehr

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You need to
1) create a market pegged asset (bitasset) --- very expensive right now
2) convince the witnesses to publish prices

I can certainly add IRR to my price feed script .. but will do only AFTER the asset has been created (which, is rather expensive right now, 200k BTS for Lifetime members)

Thanks a lo @xeroc for your reply.
I'm ready to create BitIRR and pay 200k BTs for it.

But sorry to ask dumb questions!

1- How many BitIRR will be created? Do I should decide for that?
2- Do I should create it through CLI?
3- Is that all of this Asset at the beginning belong to account created it?
4- How can I  or any other Iranian entity can be a gateway for this asset?
5- How many witnesses should convince to publish prices? 51?

Thanks a lot,
Sepehr

Offline kenCode

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You need to
1) create a market pegged asset (bitasset) --- very expensive right now
2) convince the witnesses to publish prices
I can certainly add IRR to my price feed script .. but will do only AFTER the asset has been created (which, is rather expensive right now, 200k BTS for Lifetime members)

200k BTS (~660€) is a lot of money, but starting the market-pegged cryptocurrency for Iran is a HUGE deal.
 
I see a LOT of potential for bitIRR, so if @sepehr needs the financial assistance and is serious about this, then I am willing to loan 10,000 BTS towards its creation if I can get paid back in a few months (no profit needed). Maybe the rest of the community here would be willing to pitch in some BTS as well??
kenCode - Decentraliser @ Agorise
Matrix/Keybase/Hive/Commun/Github: @Agorise
www.PalmPay.chat

Offline xeroc

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You need to
1) create a market pegged asset (bitasset) --- very expensive right now
2) convince the witnesses to publish prices

I can certainly add IRR to my price feed script .. but will do only AFTER the asset has been created (which, is rather expensive right now, 200k BTS for Lifetime members)

Offline sepehr

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I want to issue a pegged asset to fiat, My local country fiat(IRR), and I understood that I need to attract confirmation from 51+ of important guys from community.
By the way if that is the way I'm ready to do that.

You can have IRR/BTS pair on BitShares by next week if there is enough demand/potential users. Invoking @xeroc

I want "BitIRR"! If I could not do that I will Issue a UIA and I support pegged asset to fiat myself!

Are you an exchange?  :P

DestBest,

Let me know what should I do exactly to apply for BitIRR?
I read a lot docs! but still not sure where is the start point?

Thanks
Sepehr

Offline DestBest

Just for update:

http://bitshares.ir/

is now up and parked on our website and will decide what to do with it later.

Thanks everybody for your warm welcome.
Welcome on board!  :D
I will provide liquidity for IRR as soon as it's up and running  ;)
BitShares French ConneXion, le portail francophone BitShares.
BitShares French ConneXion, the BitShares french gateway.
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Offline liondani

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Thanks a lot for your detailed reply liondani.
Can I run CLI on windows?

I never used windows for bitshares but it is possible ...
go there... https://github.com/bitshares/bitshares-2/releases
and download "BitShares-2.15.306-x64-cli-tools.exe" https://github.com/bitshares/bitshares-2/releases/download/v2.0.151101/BitShares-2.15.306-x64-cli-tools.exe
here is the windows light client https://github.com/bitshares/bitshares-2/releases/download/v2.0.151101/BitShares-light_2.0.151111.exe

You are welcome my friend  ;)
« Last Edit: November 14, 2015, 03:02:43 pm by liondani »

Offline sepehr

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Thanks a lot for your detailed reply liondani.
Can I run CLI on windows?

Just for update:

http://bitshares.ir/

is now up and parked on our website and will decide what to do with it later.

Thanks everybody for your warm welcome.