BitShares Forum
Main => General Discussion => Topic started by: marauder on March 09, 2014, 01:51:21 pm
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I think it would be helpful for investor confidence to layout under what conditions Bitshares XT will be rolled back to the February 28th snapshot.
Obviously you can't predict every possible outcome that could result in it needing to be rolled but maybe some clarification on what is considered minor and could be patched out and/or forked and what would be considered major would help.
So far I have read that a failure to honour the snapshot balances correctly would result in a restart, I would have thought that would be caught within the first few days.
A major flaw in the short-long match making also comes to mind (though I'm sure it will have already been thoroughly tested).
Does anything else spring to mind?
I also think I saw Bytemaster mention that they propose another snapshot should be taken of the Bitshares XT balances at the end of March (though that may have slipped now) provided it has made it successfully out of the first couple of weeks of testing.
I think I saw a 50/50 chance of a restart within the first week being mentioned somewhere too (bug dependant of course)? But please correct me if I'm wrong!
TL;DR?
What are some examples of the required conditions for the Bitshares XT network to be restarted?
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Let me see if I got this.
Bitshares XT will launch in a few weeks.
100% of the shares goes to 28th February PTS/AGS snapshot.
If Bitshares XT fails, then the chain re-launches.
The re-launched chain uses the original 28th February snapshot?
When Bitshares XT is declared a success, a new chain, Bitshares X will launch?
100% of the Bitshares X shares goes to people holding Bitshares XT during a new snapshot?
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Right .. you are just missing out the share of keyhotee founders
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Funders got AGS.
Besides, are you sure I got that right? If so, then nobody will buy into Bitshares XT, as it may be reset at any time to the original 28th snapshot, and people who hold from the snapshot will trade conservatively as their holdings will determine their future Bitshares X balance if the chain is successful.
What's the official line again?
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The official line is that BitShares XT does not reset to BitShares X... it just gets rebranded after there is sufficient confidence.
I think it would be helpful to identify some Market Cap for BitShares XT to get to as the trigger point of 'no reset'. In this way the entire market will be the judge and not Invictus. When it is first launched the risk of reset will depress the price, but it will not be 0 because there is still potential for it to work perfectly.
As the risk of reset approaches 0 (because it is proven stable) then the market cap will rise until we can remove the T.
Conditions for a reset vs hard-fork without reset are fuzzy as the unknown unknowns are hard to build plans for. I think it will come down to whether or not the bug identified resulted in a violation of the intended social contract. For example: if it resulted in creation of surplus shares or orders were not processed according to proper terms.
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Perhaps a market cap of $5 billion should be the point of no return? :)
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Perhaps a market cap of $5 billion should be the point of no return? :)
I would say $1 billion is sufficient... but could be convinced otherwise.
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I thought we were keeping the name 'xt' even when it graduates? That way bts x can refer to all the bank&exchange chains
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I thought we were keeping the name 'xt' even when it graduates? That way bts x can refer to all the bank&exchange chains
Sent from my SCH-I535 using Tapatalk
Actually, it could just be considered one giant test that never ends. The market value will speak for itself as people bet the chances of reset equal 0.
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Actually that is a great idea, we can test features on XT and have a always relatively recent rollback date and take snapshots for the next "real" chain with XT's parameters when it grows big enough
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Idk if that's what you meant but it seems reasonable as long as everyone understood the rules
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bump...er +5%
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i'm happy to announce we will be rolling back everything.
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i'm happy to announce we will be rolling back everything.
What does this mean?
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i'm happy to announce we will be rolling back everything.
no FUD until my next paycheck please, I want cheap PTS too
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i'm happy to announce we will be rolling back everything.
no FUD until my next paycheck please, I want cheap PTS too
lol, i keep kicking peoples shins today
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i'm happy to announce we will be rolling back everything.
wait what? does that mean a new snapshot and a second chance to invest in bitshares x?
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i'm happy to announce we will be rolling back everything.
That was fast. Not sure if it is a good or a bad thing. :o
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Don't listen to barwizi, he's just enjoying his nihilistic sense of humor :D
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Don't listen to barwizi, he's just enjoying his nihilistic sense of humor :D
damnit.
so frustrating that all this didn't click for me until after snapshot hype. going to be looking to scoop up bitshares x when it drops.