Author Topic: Checklist for PTS to DPOS: You can help!  (Read 11605 times)

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Offline donkeypong

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Is it not technically feasible to add PTS as an asset on BitShares X and have individuals import their wallets to claim those PTS?

Seriously. It makes far more sense to make it a user-issued asset with maxed out supply on the BitShares X blockchain (if technically possible).

And while your at it, mix in the AGS snapshot too to have a united AGS/PTS protoshare that future DACs can credit by at least 20%.

I'm not against this and I see plenty of upside. However, one benefit of having PTS out on its own is that it theoretically reaches more people. It's another way in, an on-ramp to the BItShares ecosystem. Soon, with the way BTSX is going, that may not be a problem because people will be coming there first, not even knowing/caring about Bitcoin or coinmarketcap or exchanges. But having PTS out there now provides one more tentacle for this ecosystem to attract people. That would be the main reason to keep PTS out there in the world beyond BitShares X and also to showcase an example of a simpler DPoS coin. But again, I'm open to either possibility.

Offline BTSdac

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Why does it make far more sense?

  • Less work
  • No need for another executable to run.
  • No need to manage a new set of delegates to vote for.
  • Better DPOS security because of the higher market cap of BTSX.
it is a cool thing  +5% +5%
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Offline arhag

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Go for it then, the OP is telling the people who keep insisting it needs a DPOS upgrade how to get started.
Maybe you can beat them to it as a user issued asset, or duke it out in this thread.

It would be really great to get all of the balances in the BitShares X blockchain at once though, say during one of the future hard forks. If that is not possible, then I guess people will have to donate some BTSX to pay for all the transaction fees necessary and quickly transfer all of the issued assets (I am going to name them PROTO in this post) to the appropriate addresses. Then trusted members of the community would have to look through the unspent transaction outputs to ensure they comply with the snapshots (or just have someone really trusted by the community, like toast or bytemaster, do the asset distribution in the first place). And only after the green light has been given by these trusted members would it be safe to start trading the PROTO assets on the BitShares X decentralized exchange. During this whole process from PTS snapshot until the green light has been given, all PTS trades everywhere would have to stop. After a successful transition PTS would become worthless (centralized exchanges can get rid of it, although the nice exchanges would credit people with PROTO IOUs just like they credited BTSX IOUs, and all PTS mining would stop for good).

So, who wants to help make this possible?

Edit: Also, PTS supply would be scaled up to 2 million in the snapshot for a total PROTO asset supply of 4 million (AGS + scaled PTS). Or rather, scale to something a tiny bit smaller than 2 million with the rest given to the PROTO asset issuer in order to repay the people who donated the BTSX to cover the fees of this process.
« Last Edit: October 01, 2014, 03:59:59 pm by arhag »

Offline GaltReport

Is it not technically feasible to add PTS as an asset on BitShares X and have individuals import their wallets to claim those PTS?

Seriously. It makes far more sense to make it a user-issued asset with maxed out supply on the BitShares X blockchain (if technically possible).

And while your at it, mix in the AGS snapshot too to have a united AGS/PTS protoshare that future DACs can credit by at least 20%.

Interesting ideas.  That would be so cool.  One system to rule them all....(sort of).

Offline toast

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Why does it make far more sense?

  • Less work
  • No need for another executable to run.
  • No need to manage a new set of delegates to vote for.
  • Better DPOS security because of the higher market cap of BTSX.
Go for it then, the OP is telling the people who keep insisting it needs a DPOS upgrade how to get started.
Maybe you can beat them to it as a user issued asset, or duke it out in this thread.
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 testz

I will switch to helping launch PTS on DPOS (doing the actual toolkit changes you need) when:

*  There is a dedicated PTS2 repository
    * We can reliably make a PTS snapshot at any time
    * The GUI is reskinned for PTS
    * Unmined PTS policy is decided (I suggest inflating for delegates according to mining schedule - use some for bounties required for transition)\
* ALL third-party services that use PTS are notified, especially:
    * Exchanges
    * Block explorers
    * Mining Pools

* Clear PR guidelines
    * What to do for upgrade process


Expect this list to grow as people get their hands dirty

As I tell before you can count me, I can take responsibility for things which I make as bold.

Offline arhag

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Why does it make far more sense?

  • Less work
  • No need for another executable to run.
  • No need to manage a new set of delegates to vote for.
  • Better DPOS security because of the higher market cap of BTSX.

Offline toast

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Is it not technically feasible to add PTS as an asset on BitShares X and have individuals import their wallets to claim those PTS?

Seriously. It makes far more sense to make it a user-issued asset with maxed out supply on the BitShares X blockchain (if technically possible).

Why does it make far more sense?

It is technically possible, anybody could do it at any time if they like. The symbol "PTS" is already reserved as a market-pegged though.
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 arhag

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Is it not technically feasible to add PTS as an asset on BitShares X and have individuals import their wallets to claim those PTS?

Seriously. It makes far more sense to make it a user-issued asset with maxed out supply on the BitShares X blockchain (if technically possible).

And while your at it, mix in the AGS snapshot too to have a united AGS/PTS protoshare that future DACs can credit by at least 20%.
« Last Edit: October 01, 2014, 03:28:17 pm by arhag »

clout

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Is it not technically feasible to add PTS as an asset on BitShares X and have individuals import their wallets to claim those PTS?

Offline toast

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I will switch to helping launch PTS on DPOS (doing the actual toolkit changes you need) when:

*  There is a dedicated PTS2 repository
    * We can reliably make a PTS snapshot at any time
    * The GUI is reskinned for PTS
    * Unmined PTS policy is decided (I suggest inflating for delegates according to mining schedule - use some for bounties required for transition)\
* ALL third-party services that use PTS are notified, especially:
    * Exchanges
    * Block explorers
    * Mining Pools
* Clear PR guidelines
    * What to do for upgrade process

Expect this list to grow as people get their hands dirty
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.