BitShares Forum

Main => General Discussion => Topic started by: jakub on December 14, 2015, 12:06:47 pm

Title: Important questions from the business perspective
Post by: jakub on December 14, 2015, 12:06:47 pm
(1) This is what we currently know about mobile development:

What's going on with LimeWallet?
i've talked with matias and pablo .. it will ported to 2.0, but this needs time !

Is it possible to deploy BitShares GUI on Android & iPhone?
Yes

Does anyone have any more detailed information?
We all remember the Moonstone case - they invested massively in their alternative GUI development and their plans got unexpectedly derailed by the 2.0 announcement.
It would be a good thing to avoid such surprises in the future. So could we know more about CNX plans in this area?

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(2) This is what we currently know about SmartCoins being valued at parity:

Can we adjust the settlement price to artificially lower the SmartCoins' value so that it's close to parity?
I am not apposed to a policy of adjusting the force settlement price such that the average of all trades in a given day occur at around $1.00.  This would have to be a very slowly adjusted parameter (long term moving average of the premium).   
It would produce a currency that has the guarantee that on average it can be sold for $1.00. Perhaps this is an opportunity to create a new asset called BUX that implements this policy.  Changing the policy on USD without sufficient warning could be detrimental.

Could we know more about this? This is very important from the business perspective (as it requires different marketing strategy for SmartCoins depending if they're valued at par or above par).
Are we aiming to have SmartCoins defined similarly to roadscape's proposal?
The floor could be lower... for example, if the floor is set to $0.97, then the worst case scenario is that it's still competitive w/ PayPal. If the average premium is around 3%, it means USD will float right around $1.00.
So don't guarantee $1.00 .. instead, offer $1.00 on average, but guarantee that one can ALWAYS get 97% of face value.

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(3) This is what we currently know about the possibility of introducing a transfer fee threshold related to the BTS value being transferred:

Actually this question never got answered (please let me know if it was) though it has been proposed on several occasions, e.g.:
a transaction with value <= 1000 BTS you have to pay say 5 BTS
if it is higher the normal transaction transfer fee will be applied

Is it a plausible solution for SmartCoins and some UIAs (i.e for those assets which are actively traded so that their value can be determined at any point in time)?
I think it's a crucial issue as this way we could:
- create a friendly environment for business based on receiving small tips
- still maintain a solid financial basis for the referral program

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(4) Is it possible to have different transfer fees depending on the pricing policy of the referral business?

This is an interesting question from ElMato which never got answered (again, please let me know if it was):
What happens if we set (as a registrar) the network_fee_percentage to 100%
Will the users registered by this registrar only pay $0.04? and nothing to the registrar?

Could a referral business "subsidize" its customers by giving up some of the referral revenue? (e.g. so that effectively a pay-as-you-go user would get a 50% discount while the referrer's revenue stream would be 50% lower)
Title: Re: Important questions from the business perspective
Post by: abit on December 14, 2015, 11:46:21 pm
Good points. Bump.
Title: Re: Important questions from the business perspective
Post by: merivercap on December 15, 2015, 12:06:52 am
BitCash -

1)  We’re planning to have a beta for a mobile payment wallet web-app out at the beginning of the new year.  People  will be able to sign up using their native web browser on either iPhone or Android. 

2) We're planning a Privatized Smartcoin with no permanent premium. 

Title: Re: Important questions from the business perspective
Post by: cass on December 15, 2015, 01:09:03 am
@ElMato - could u please give a short update on the limewallet project? thanks in advance :)
Title: Re: Important questions from the business perspective
Post by: jakub on December 15, 2015, 10:33:16 am
BitCash -
1)  We’re planning to have a beta for a mobile payment wallet web-app out at the beginning of the new year.  People  will be able to sign up using their native web browser on either iPhone or Android. 

That's excellent news.
Is the mobile app going to be native or JavaScript-based?
Title: Re: Important questions from the business perspective
Post by: Xeldal on December 16, 2015, 01:14:34 am

***************************************************************

(2) This is what we currently know about SmartCoins being valued at parity:

Can we adjust the settlement price to artificially lower the SmartCoins' value so that it's close to parity?
I am not apposed to a policy of adjusting the force settlement price such that the average of all trades in a given day occur at around $1.00.  This would have to be a very slowly adjusted parameter (long term moving average of the premium).   
It would produce a currency that has the guarantee that on average it can be sold for $1.00. Perhaps this is an opportunity to create a new asset called BUX that implements this policy.  Changing the policy on USD without sufficient warning could be detrimental.

Could we know more about this? This is very important from the business perspective (as it requires different marketing strategy for SmartCoins depending if they're valued at par or above par).


I would like to see more discussion about this.  It was brought up 7 months ago and again more recently.  I think there's great advantages to doing it.  I'm not aware of anyone who's actually against it.  The problem of course is the market is currently under the assumption of a settlement at 100% and expect a certain premium.   Changing it now would steal from all those who were trading under the current rules.   Is there an agreeable way to transition into a variable settlement offset based on a long term moving average minus the premium?

If a transition is possible.  How long should it be?
If the market were given some # of months notice, and then some # of months slow transition.
Or what should a transition look like?

There is of course the option of private SmartAssets like TCNY or the suggested BUX and I'm sure we will see more of these anyways but If it makes sense to offset the settlement price such that trades tend toward 1:1, and I believe it does;  As well, if it can be transitioned in a way as to minimize damage.  I think it should be pursued.

What are the arguments against this? 
Title: Re: Important questions from the business perspective
Post by: merivercap on December 16, 2015, 01:20:19 am
BitCash -
1)  We’re planning to have a beta for a mobile payment wallet web-app out at the beginning of the new year.  People  will be able to sign up using their native web browser on either iPhone or Android. 

That's excellent news.
Is the mobile app going to be native or JavaScript-based?

Javascript.  Performance for webapps is really good these days. 
Title: Re: Important questions from the business perspective
Post by: ElMato on December 16, 2015, 03:12:48 pm
@ElMato - could u please give a short update on the limewallet project? thanks in advance :)

People, sorry for not being very active lately.

The delay in the new release of limewallet is just a matter of resources on our side.

We are doing consulting projects (some crypto related, some not) because we need funds to keep us alive and that allows us to keep working on the wallet.

Anyway, Im still working on the wallet (not at the speed i would like to) but we will be releasing a new version in the coming months.
Title: Re: Important questions from the business perspective
Post by: jakub on December 16, 2015, 06:49:47 pm
BitCash -
1)  We’re planning to have a beta for a mobile payment wallet web-app out at the beginning of the new year.  People  will be able to sign up using their native web browser on either iPhone or Android. 

That's excellent news.
Is the mobile app going to be native or JavaScript-based?

Javascript.  Performance for webapps is really good these days.

Is it safe to assume that native development is also possible?
In other words, are there any specific Javascript libraries being used in the web GUI that might not have their equivalents in Android / iOS?
Title: Re: Important questions from the business perspective
Post by: valzav on December 16, 2015, 07:04:19 pm
BitCash -
1)  We’re planning to have a beta for a mobile payment wallet web-app out at the beginning of the new year.  People  will be able to sign up using their native web browser on either iPhone or Android. 

That's excellent news.
Is the mobile app going to be native or JavaScript-based?

Javascript.  Performance for webapps is really good these days.

Is it safe to assume that native development is also possible?
In other words, are there any specific Javascript libraries being used in the web GUI that might not have their equivalents in Android / iOS?

Yes, going native is not only possible but can be very easy using react native. I have a sample react native app that takes advantage of all our existing client side crypto libs developed for the web wallet. If anybody is interested in developing a native android or ios app using react native please don't hesitate to get in touch with me.

Title: Re: Important questions from the business perspective
Post by: jakub on December 16, 2015, 07:18:17 pm
Yes, going native is not only possible but can be very easy using react native. I have a sample react native app that takes advantage of all our existing client side crypto libs developed for the web wallet. If anybody is interested in developing a native android or ios app using react native please don't hesitate to get in touch with me.
As far as I know, react native is similar to xamarin (https://xamarin.com/), i.e. it's a javascript wrapper mapped to native UI components (whereas xamarin uses c#).
When using react native, will the code handling private keys and communication with the server be written in js or natively?

I was thinking about doing it purely native, i.e. without any javascript layer (as I have experience with native Android but no experience with js or react) .
Is it safe to assume pure Android code is doable?
Title: Re: Important questions from the business perspective
Post by: valzav on December 17, 2015, 03:08:44 pm
Yes, going native is not only possible but can be very easy using react native. I have a sample react native app that takes advantage of all our existing client side crypto libs developed for the web wallet. If anybody is interested in developing a native android or ios app using react native please don't hesitate to get in touch with me.
As far as I know, react native is similar to xamarin (https://xamarin.com/), i.e. it's a javascript wrapper mapped to native UI components (whereas xamarin uses c#).
When using react native, will the code handling private keys and communication with the server be written in js or natively?

I was thinking about doing it purely native, i.e. without any javascript layer (as I have experience with native Android but no experience with js or react) .
Is it safe to assume pure Android code is doable?

In react native all business logic would in javascript. We already have all the js code needed to handle private keys and communication with the server.
Title: Re: Important questions from the business perspective
Post by: jakub on December 17, 2015, 05:11:04 pm
If anybody is interested in developing a native android or ios app using react native please don't hesitate to get in touch with me.
@valzav would you describe what tools (in terms of IDE) you recommend for react development? (both desktop and mobile)
What tools do you use to debug react apps? Just a browser or something more advanced?
Title: Re: Important questions from the business perspective
Post by: Pheonike on December 17, 2015, 05:38:39 pm

Can we we setup a worker proposal or FBA for the limewallet developers so they put the time into the mobile wallet????
Title: Re: Important questions from the business perspective
Post by: jakub on December 17, 2015, 05:53:44 pm
Can we we setup a worker proposal or FBA for the limewallet developers so they put the time into the mobile wallet????

 +5%
@ElMato , would you be interested in this way of funding?
What is the estimated cost of completing the upgrade?
Title: Re: Important questions from the business perspective
Post by: cass on December 23, 2015, 08:15:58 am
Can we we setup a worker proposal or FBA for the limewallet developers so they put the time into the mobile wallet????

 +5%
@ElMato , would you be interested in this way of funding?
What is the estimated cost of completing the upgrade?

 +5%
Title: Re: Important questions from the business perspective
Post by: svk on December 23, 2015, 01:19:48 pm


If anybody is interested in developing a native android or ios app using react native please don't hesitate to get in touch with me.
@valzav would you describe what tools (in terms of IDE) you recommend for react development? (both desktop and mobile)
What tools do you use to debug react apps? Just a browser or something more advanced?

I use Sublime, no fancy IDE needed. Eslint plugin is nice to have for linting but not essential.

For debugging you just need Chrome dev tools with React dev tools extension. The nice thing about React is that it's mostly vanilla JavaScript with some life cycle hooks, and you can use the debugger to set breakpoints wherever you like.
Title: Re: Important questions from the business perspective
Post by: cass on December 23, 2015, 11:42:19 pm
@jakub : valzav is using webstorm AFAIK

https://www.jetbrains.com/webstorm/

i'm working with atom.io editor and some plugins ..
Title: Re: Important questions from the business perspective
Post by: EstefanTT on December 25, 2015, 11:27:09 am
About that :

"(3) This is what we currently know about the possibility of introducing a transfer fee threshold related to the BTS value being transferred:

Actually this question never got answered (please let me know if it was) though it has been proposed on several occasions, e.g.:
Quote from: Shentist on October 21, 2015, 06:19:23 PM
a transaction with value <= 1000 BTS you have to pay say 5 BTS
if it is higher the normal transaction transfer fee will be applied"

I think the actual fees prevent any way of small purchase. Tips, coffee, newspaper, ...
Any merchant would ever accept to lose about 0.1€ on a 1,2€ coffee.

Lower the fees for small transaction would be a solution

I also think that there could be another way to do that with 0 bts fees. It could be done with something like Sharebits who would integrade a super simple android/ios wallet with just 3 functions : send / deposit / withdraw. It would be centralised but it doesn't matter because nobody would ever keep big sums of money there. It would be like a day to day wallet, something like having 20€ change in your pocket.
It could be use to tip, coffee, ...
When using the "mini wallet" try to send  to a real BTS address, it would create a new address in its database based on the same name of the BTS one and send the tip there. Nobody would have even to create an account on the wallet to receive tips.

Is something like that in your plans @fuzzy ?

Title: Re: Important questions from the business perspective
Post by: jakub on December 25, 2015, 06:16:45 pm
I think the actual fees prevent any way of small purchase. Tips, coffee, newspaper, ...
Any merchant would ever accept to lose about 0.1€ on a 1,2€ coffee.

Lower the fees for small transaction would be a solution.
+5%
I fully agree. People who are new to BitShares are not going to trust it with any significant amounts of money.
Initially they will want to play with it by putting a couple of euros or dollars into the system.
And this is exactly the range where we utterly fail in terms of transfer fees.
I cannot think of any other existing payment system that asks you to pay a 10% fee for a $1 payment. 

I've been trying to address this issue in this proposal:
https://bitsharestalk.org/index.php/topic,20709.msg267842.html#msg267842
Title: Re: Important questions from the business perspective
Post by: fuzzy on December 28, 2015, 01:44:06 pm
About that :

"(3) This is what we currently know about the possibility of introducing a transfer fee threshold related to the BTS value being transferred:

Actually this question never got answered (please let me know if it was) though it has been proposed on several occasions, e.g.:
Quote from: Shentist on October 21, 2015, 06:19:23 PM
a transaction with value <= 1000 BTS you have to pay say 5 BTS
if it is higher the normal transaction transfer fee will be applied"

I think the actual fees prevent any way of small purchase. Tips, coffee, newspaper, ...
Any merchant would ever accept to lose about 0.1€ on a 1,2€ coffee.

Lower the fees for small transaction would be a solution

I also think that there could be another way to do that with 0 bts fees. It could be done with something like Sharebits who would integrade a super simple android/ios wallet with just 3 functions : send / deposit / withdraw. It would be centralised but it doesn't matter because nobody would ever keep big sums of money there. It would be like a day to day wallet, something like having 20€ change in your pocket.
It could be use to tip, coffee, ...
When using the "mini wallet" try to send  to a real BTS address, it would create a new address in its database based on the same name of the BTS one and send the tip there. Nobody would have even to create an account on the wallet to receive tips.

Is something like that in your plans @fuzzy ?
 

Ronny and I have talked about some of this stuff with Freebie.  Sharebits really does seem to be becoming the yin to bitshares yang because not only does it kind of rebrand the use of the word "shares" to something that another demographic (those who enjoy sharing) use it and bring more people onboard...but it also does have this benefit of helping "bypass" the referral system fees to a degree...which has some nice benefits (though like you said before, it shouldn't be an account that holds much money at any given time).

ShareBits integration could make it so CCEDK/Open Ledger Accounts to be able to send directly to their nanocard and convert to whatever they want at the time of purchase...or another example is our talks with bitteaser who is trying to build a presence in the google adsense sector using bitcoin.  Some big stuff, but of course I have no clue what the outcomes of those conversations will be until I find out more.  @xeroc has some ideas on how to do some cool things with sharebits and an API for it.  I think perhaps he would be a good person to talk to since he is the technical person talking about this with aliana from bitteaser...so I should stop at where I can no longer give you 100% certainty.  :)
Title: Re: Important questions from the business perspective
Post by: EstefanTT on December 28, 2015, 01:58:58 pm
Thanks Fuzz'

It's good to know that ideas are flowing and the project keeps evolving !

I think there is much more potential there that this community realizes at the moment.
Just the fact to be able to tip freely token from BitShares on reddit, tweeter, ... it's an amazing way to evolve awareness around our UIA and that's just one tiny thing in the pannel of possibilities !