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Offline Drosmee

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2 Questions I could not find an aswer to
« on: July 07, 2014, 12:18:43 PM »

Hello

Maybe someone here can help me answer these two questions:

1, How exactly can multiple bitassets rest on one chain?

2, How are DAC profits through transaction fees (which I assume are collected in the native share/ coin and distributed to miners) distributed to bitshares holders?


Thanks!

Offline xeroc

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Re: 2 Questions I could not find an aswer to
« Reply #1 on: July 07, 2014, 12:25:27 PM »
Maybe someone here can help me answer these two questions:
Let's try
Quote
1, How exactly can multiple bitassets rest on one chain?
The blockchain (tm) is just a technology for peer2peer decentralized consensus/ledger .. you can store anything on a blockchain.

Quote
2, How are DAC profits through transaction fees (which I assume are collected in the native share/ coin and distributed to miners) distributed to bitshares holders?
No mining here .. the delegates build block .. each delegate has a payrate .. e.g. 50% .. the fees collected by that delegate are payed 50% to the owner of the delegate and 50% are destroyed .. much like burning ... by this the amount of assets tradeable are reduced and are thus worth more ..

read more on the wiki.bitshares.org
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Offline Drosmee

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Re: 2 Questions I could not find an aswer to
« Reply #2 on: July 07, 2014, 12:46:02 PM »
Thanks for the answer

ad1,  I was under the impression that only one kind of asset was possible. So basically one could store multiple currencies on one chain?

ad2,  I was not aware that DAC would automatically use TaPOS and DPOS too.
So correctly one would have to say: DAC profits are distributed to bitshares holders who also hold shares of that specific DAC

Offline xeroc

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Re: 2 Questions I could not find an aswer to
« Reply #3 on: July 07, 2014, 01:07:37 PM »
ad1,  I was under the impression that only one kind of asset was possible. So basically one could store multiple currencies on one chain?
Yep.
currently on the testnet:
Code: [Select]
default (unlocked) >>> blockchain_list_assets
ID    SYMBOL NAME                    DESCRIPTION                                     ISSUER                          ISSUED    SUPPLY
-----------------------------------------------------------------------------------------------------------------------------------------------------------
36    AAPL                                                                           MARKET                          N/A       0.00000 AAPL
22    ASSET  Meta-Asset              One asset to rule them all, and in the darkn... nathan                          0.10 %    1,000,000.000000 ASSET
1     BOMB   Bomb                    bombs for all                                   bitcoiners                      0.10 %    10,000,100. BOMB
10    BTC    BTC                     bitcoin                                         free                            48.14 %   1,011,000.0 BTC
21    BTS    Bitshares BTS           Pays out shares in future DACS 1 share = 0.0... testarr                         0.00 %    0.000000 BTS
24    CDROP  Citrus Drop             Crisp & Refreshing                              nat                             99.00 %   0.009900 CDROP
34    CLOUT  Clout Money                                                             MARKET                          N/A       0.00000 CLOUT
18    CNY    bitCNY                  test cny                                        gordonhucn                      0.00 %    10,000.000000 CNY
6     EUR    Euro                    Euro                                            cass                            0.00 %    11,234,124.000 EUR
28    FORK   ForKoin                 The coin of forking                             org.bitshares.xts               0.00 %    0. FORK
9     FREE   Freedom                 Freedom                                         spartako-w                      0.10 %    1,000,000.000000 FREE
11    GOLD   BitGold                 BitGold                                         metalallen                      0.00 %    0.0000 GOLD
27    INFTY  InfiniCoin              The coin of infinite balances                   nat                             12.35 %   123,456,801,111,124. INFTY
23    JWZ    Jwiz Oz                 A bunch of wizard coins                         jwizmyxts                       0.00 %    20,200.000000 JWZ
20    LVC    Lovecoin                coin of love                                    seusnow                         0.00 %    0.00 LVC
12    MEINV  ç¾å¥³å¸                                                               test                            11.00 %   11. MEINV
15    MFM    MFM Corp                Digital Asset                                   mineforme                       90.00 %   4.500000 MFM
16    MFMC   MFM Co.                 MFM Share Split                                 mineforme                       0.96 %    47,983,765.000000 MFMC
29    MMD    MEMEDA                  THE FIRST MAIMENG BI                            lzr1900                         0.00 %    0.000000 MMD
5     NNM    young girl model Dollar Free sexy young model for all                   chinese                         0.02 %    1,900.00 NNM
14    NNN    NNN                     NNN                                             test                            0.00 %    0.00 NNN
17    NXT    BitNXT                  first NXT asset created on bitshares platform   liondani-win7                   99.90 %   999.000000 NXT
3     OMG    young girl model Dollar Free sexy young model for all                   chinese                         0.01 %    1,500.00 OMG
33    OSTK   Overstock.com                                                           malcolmjmr                      0.50 %    5,000,000.000000 OSTK
8     PEPE   Pepe asset                                                              marcio                          0.00 %    3,800.000000 PEPE
2     PPP    PAN Dollar              Free money for all                              chinese                         0.02 %    1,700.00 PPP
19    QQC    QQCoin                  First QQ COIN                                   seusnow                         0.00 %    0.000000 QQC
13    RMB    BitRMB                  BitRMB                                          metalallen                      0.00 %    0.00 RMB
4     SEX    young girl model Dollar Free sexy young model for all                   chinese                         0.00 %    0.00 SEX
25    TEST   TEST                                                                    hackfisher-test123              0.00 %    10,000.000000 TEST
35    TSLA   Tesla                                                                   MARKET                          N/A       0.00000 TSLA
7     USD    BitUSD                  BitAsset that is market pegged to the US dollar malcolmjmr                      2.50 %    25,000,000.000000 USD
32    WTF    BitShares WTF           Self-explanatory.                               vikram                          0.00 %    0. WTF
0     XTS    BitShares XTS           Stake in future BitShares X chains              GENESIS                         N/A       1,999,991,422.57866 XTS
26    XTTS   BitsharesXTT Shares     Stake in all future Bitshares XT chains         org.bitshares.xts               0.00 %    100,000. XTTS
most are user issued

Quote
ad2,  I was not aware that DAC would automatically use TaPOS and DPOS too.
TaPOS was Bytemasters baby .. he killed it in favor of DPOS which uses parts of TaPOS but with delegate voting!

Quote
So correctly one would have to say: DAC profits are distributed to bitshares holders who also hold shares of that specific DAC
Puh .. depends on the implementation .. but that is the plan ..
Read more:
http://wiki.bitshares.org/index.php/Paying_Dividends_to_Shareholders
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Offline santaclause102

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Re: 2 Questions I could not find an aswer to
« Reply #4 on: July 07, 2014, 01:15:17 PM »
1) Like Xeroc said you can store anything basically on a blockchain. You can also have many different currencies on the Bitcoin blockchain. Google "colored coins".
2)
DAC = is a general metaphor that not only applies to Bitshares projects. Google "Decentralized autonomous company".
Bitshares = is the name for the whole Bitshares project. If I would have to define the Bitshares project with only a few words I would say: One chain for one application, DPOS to secure/maintain the chain, Making use of blockchain technology for various (decentralized/decentralizeable) business models.   
AGS/PTS holders will in most cases hold a big share in many Bitshares DACs and receive profits/dividends in case that is what these shareholders want. The  shareholders could also decide (by electing delegates) that the profits should be reinvested in the growth of the DAC (marketing etc.).

Hope it helps! Keep on asking your questions, they make sense :)

Offline xeroc

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Re: 2 Questions I could not find an aswer to
« Reply #5 on: July 07, 2014, 01:18:54 PM »
Hope it helps! Keep on asking your questions, they make sense :)
Absolutly ... as some of us are part of the ecosystem for several months now .. we tend to see most of that stuff as basic knowledge .. but it certainly is not.
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Offline Drosmee

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Re: 2 Questions I could not find an aswer to
« Reply #6 on: July 07, 2014, 02:24:14 PM »
Thanks to both of you!

Yes I know that once you are immersed in a complicated project it is hard to understand how perceivable it is to outsiders.
To be fair not only is the technology decentralized but also the information about it  ;) - after a basic overview one has to piece detailed bits together from distributed forum posts

Offline xeroc

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Re: 2 Questions I could not find an aswer to
« Reply #7 on: July 07, 2014, 02:59:02 PM »
Thats why we are concemtrating on populating the wiki .. worth reading
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Offline gamey

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Re: 2 Questions I could not find an aswer to
« Reply #8 on: July 07, 2014, 04:52:07 PM »

which is at wiki.bitshares.org
I speak for myself and only myself.

 

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