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OpenBazaar is obviously our good partner but OB is an anonymous trade platform, and I think that the virtual products will be main trade objects. so the market capacity will be small. anyhow, this is a possible approach to for BTS to grow up.
1) Is "bitcoin-compatible" multisig any different than the multisig we already have planned?
2) Are there any other roadblocks we should be aware of?
There is no way for this to happen until the toolkit gets bitcoin-compatible multisig support (this would also allow any other devs to add bitUSD in escrow-based transactions).
Myself and other forum members would likely contribute to a dev fund if needed.Neat idea - BTSX account named 'OB Integration Fund'.
I agree ob is important and bitusd and keyid are both obvious and relatively easy to integrate. There is a ~1m usd dev fund and dns inflation which could be paid via bitusd. I've tried to contact ob devs but have no response. Facilitaing this seems like an opportunity open to just about anyone who is dedicated enough.Sent from my SCH-I535 using Tapatalk
Hey, thanks for your question. Right now, we only support bitcoin, but there is enough abstraction to allow for other altcoins to be used, including dogecoin. In particular, the current implementation requires the following features from the cryptocurrency used, all of which are supported by doge:2-of-2 and 2-of-3 multisig ✓Proof-of-burn abilities ✓Ability to sign contracts using the cryptocurrency EC key ✓While all of these are supported by doge and other altcoins such as litecoin, we are making use of certain APIs that don't play well with doge yet. These include Obelisk, blockchain.info, pybitcointools, etc.So, to answer your question: Yes, this is possible to do, and we have enough abstraction to enable it. However, there are certain changes that need to be done in terms of libraries used, and this may require some time, so it's not a priority currently.
Quote from: bytemaster on October 06, 2014, 05:27:04 pmOpen bazaar is great but a small userbase that even if we grab 100% it would be insignificant in the next few years. Bytemaster doesn't like this strategy because the userbase isn't big enough. He's mistaken for two reasons:a) OpenBazaar hasn't launched yet but when they do, their userbase will grow rapidly (given the momentum behind the project).b) Once successful on OpenBazaar, BitUSD will virally "jump" to other markets and services (important eyes are watching OpenBazaar).The whole point of this strategy isn't to stay contained within the OpenBazaar ecosystem, just like PayPal isn't contained within eBays ecosystem. The point is to establish ourselves as THE stable crypto, get targeted attention and snowball from there.
Open bazaar is great but a small userbase that even if we grab 100% it would be insignificant in the next few years.
Quote from: OldMan on October 06, 2014, 03:28:18 pmQuote from: MeTHoDx on October 06, 2014, 03:12:38 pmQuote from: Empirical1.1 on October 05, 2014, 07:16:20 pmNo not imo. I like the general strategy here & I see the value of pegged assets for that market but there's also significant negative mainstream PR & other blowback risk - Think public perception of Bitcoin & Silk Road + other outcomes. However BitAssets are out in the wild so nothing to stop other people using and integrating them.I see your point but lets not forget the entire Bitcoin community is behind OpenBazaar. For the time being, it doesn't have a negative stigma; quite the opposite actually. All I3 has to do is make it easy for BitUSD to be integrated into an OB merchant node. That means improving multisig and eliminating any other obstacles that may get in the way. Once that's out of the way...a) We crowdfund the necessary development. ORb) An I3 dev anonymously commits the code on GitHub.We can actually avoid all negative backlash if we frame this as "BitUSD allows OpenBazaar to attract non-drug users because they're the only people willing to put up with Bitcoins volatility". And it's true. OpenBazaar needs our product (or our competitors) if they want mainstream adoption and we need a solid showcase if WE want mainstream adoption. The good vastly outweighs the bad.There it is.The Headline We'd Get: Open Bazaar and BitUSD help drug dealers hedge against crypto volitility
Quote from: MeTHoDx on October 06, 2014, 03:12:38 pmQuote from: Empirical1.1 on October 05, 2014, 07:16:20 pmNo not imo. I like the general strategy here & I see the value of pegged assets for that market but there's also significant negative mainstream PR & other blowback risk - Think public perception of Bitcoin & Silk Road + other outcomes. However BitAssets are out in the wild so nothing to stop other people using and integrating them.I see your point but lets not forget the entire Bitcoin community is behind OpenBazaar. For the time being, it doesn't have a negative stigma; quite the opposite actually. All I3 has to do is make it easy for BitUSD to be integrated into an OB merchant node. That means improving multisig and eliminating any other obstacles that may get in the way. Once that's out of the way...a) We crowdfund the necessary development. ORb) An I3 dev anonymously commits the code on GitHub.We can actually avoid all negative backlash if we frame this as "BitUSD allows OpenBazaar to attract non-drug users because they're the only people willing to put up with Bitcoins volatility". And it's true. OpenBazaar needs our product (or our competitors) if they want mainstream adoption and we need a solid showcase if WE want mainstream adoption. The good vastly outweighs the bad.There it is.
Quote from: Empirical1.1 on October 05, 2014, 07:16:20 pmNo not imo. I like the general strategy here & I see the value of pegged assets for that market but there's also significant negative mainstream PR & other blowback risk - Think public perception of Bitcoin & Silk Road + other outcomes. However BitAssets are out in the wild so nothing to stop other people using and integrating them.I see your point but lets not forget the entire Bitcoin community is behind OpenBazaar. For the time being, it doesn't have a negative stigma; quite the opposite actually. All I3 has to do is make it easy for BitUSD to be integrated into an OB merchant node. That means improving multisig and eliminating any other obstacles that may get in the way. Once that's out of the way...a) We crowdfund the necessary development. ORb) An I3 dev anonymously commits the code on GitHub.We can actually avoid all negative backlash if we frame this as "BitUSD allows OpenBazaar to attract non-drug users because they're the only people willing to put up with Bitcoins volatility". And it's true. OpenBazaar needs our product (or our competitors) if they want mainstream adoption and we need a solid showcase if WE want mainstream adoption. The good vastly outweighs the bad.
No not imo. I like the general strategy here & I see the value of pegged assets for that market but there's also significant negative mainstream PR & other blowback risk - Think public perception of Bitcoin & Silk Road + other outcomes. However BitAssets are out in the wild so nothing to stop other people using and integrating them.
It's not worth trying to make multisig work at present. Multisig usability is very important and it getting it right will be part of our thin client / power wallet rearchitecture.
Quote from: Empirical1.1 on October 05, 2014, 07:16:20 pmNo not imo. I like the general strategy here & I see the value of pegged assets for that market but there's also significant negative mainstream PR & other blowback risk - Think public perception of Bitcoin & Silk Road + other outcomes. However BitAssets are out in the wild so nothing to stop other people using and integrating them.I see your point but lets not forget the entire Bitcoin community is behind OpenBazaar. For the time being, it doesn't have a negative stigma; quite the opposite actually. All I3 has to do is make it easy for BitUSD to be integrated into an OB merchant node. That means improving multisig and eliminating any other obstacles that may get in the way. Once that's out of the way...a) We crowdfund the necessary development.b) An I3 dev anonymously commits the code on GitHub.We can actually avoid all negative backlash if we frame this as "BitUSD allows OpenBazaar to attract non-drug users because they're the only people willing to put up with Bitcoins volatility". And it's true. OpenBazaar needs our product (or our competitors) if they want mainstream adoption and we need a solid showcase if WE want mainstream adoption. The good vastly outweighs the bad.
Quote from: MeTHoDx on October 04, 2014, 08:13:57 pmWe have an OpenBazaar developer response:QuoteThe beauty of OpenBazaar and it being open, is that you don't really need our consideration to do this, you can start working on it yourself or rally troops to help you with this great idea.like it was said before, we're still getting things to a beta stage. Ideally the tools needed to work with BitUSD would be so similar to BTC that it'd be a matter of just replacing the blockchain checks for another one depending on the currency specified in the transaction.It is certainly a possibility and the idea sounds really attractive as a way to get rid of the volatility issue. I've not read a single line about it yet, thanks for bringing it up. Didn't know about BitUSD.sounds great
We have an OpenBazaar developer response:QuoteThe beauty of OpenBazaar and it being open, is that you don't really need our consideration to do this, you can start working on it yourself or rally troops to help you with this great idea.like it was said before, we're still getting things to a beta stage. Ideally the tools needed to work with BitUSD would be so similar to BTC that it'd be a matter of just replacing the blockchain checks for another one depending on the currency specified in the transaction.It is certainly a possibility and the idea sounds really attractive as a way to get rid of the volatility issue. I've not read a single line about it yet, thanks for bringing it up. Didn't know about BitUSD.
The beauty of OpenBazaar and it being open, is that you don't really need our consideration to do this, you can start working on it yourself or rally troops to help you with this great idea.like it was said before, we're still getting things to a beta stage. Ideally the tools needed to work with BitUSD would be so similar to BTC that it'd be a matter of just replacing the blockchain checks for another one depending on the currency specified in the transaction.It is certainly a possibility and the idea sounds really attractive as a way to get rid of the volatility issue. I've not read a single line about it yet, thanks for bringing it up. Didn't know about BitUSD.
Retaining a dev outside of I3 will be terribly inefficient and costly.OB and Bitshares are very early in the development cycle and both are going to need ongoing support for a very long time (years).The only way to do this properly is for I3 to form a strategic partnership with OB.OB is to commerce what Bitshares is to finance.
https://forum.namecoin.info/viewtopic.php?f=5&t=2024they will using namecoin for the DNS solution
"Open Bazaar partners with Bitshares to bring stability to crypto-commerce".Be a great headline...
Given that a prerequisite is to integrate multisig, perhaps we could fund development as a bounty using 2-of-3 or 3-of-5 in BitUSD.I will report back with what I can determine on the feasibility.
./bitcoind createmultisig 2 '["0491bba2510912a5bd37da1fb5b1673010e43d2c6d812c514e91bfa9f2eb129e1c183329db55bd868e209aac2fbc02cb33d98fe74bf23f0c235d6126b1d8334f86","04865c40293a680cb9c020e7b1e106d8c1916d3cef99aa431a56d253e69256dac09ef122b1a986818a7cb624532f062c1d1f8722084861c5c3291ccffef4ec6874","048d2455d2403e08708fc1f556002f1b6cd83f992d085097f9974ab08a28838f07896fbab08f39495e15fa6fad6edbfb1e754e35fa1c7844c41f322a1863d46213"]' { "address" : "3QJmV3qfvL9SuYo34YihAf3sRCW3qSinyC", "redeemScript" : "52410491bba2510912a5bd37da1fb5b1673010e43d2c6d812c514e91bfa9f2eb129e1c183329db55bd868e209aac2fbc02cb33d98fe74bf23f0c235d6126b1d8334f864104865c40293a680cb9c020e7b1e106d8c1916d3cef99aa431a56d253e69256dac09ef122b1a986818a7cb624532f062c1d1f8722084861c5c3291ccffef4ec687441048d2455d2403e08708fc1f556002f1b6cd83f992d085097f9974ab08a28838f07896fbab08f39495e15fa6fad6edbfb1e754e35fa1c7844c41f322a1863d4621353ae"}
Quote from: MeTHoDx on October 04, 2014, 09:39:36 pmQuote from: toast on October 04, 2014, 09:30:45 pmDNS delegate subsidy (dilution) could be used for this, assuming openbazaar makes use of the dns dac. We could give them their own namespace even, like .bazSent from my SCH-I535 using TapatalkIt should first be a priority to integrating BitUSD into OpenBazaar merchant nodes. After that, we can talk about how best to airdrop BitUSD on the community. One step at a time. Also, reserve bazaar.p2p and openbazaar.p2p before you launch the DAC.I do not know if he means what you are saying, or maybe pay the open OpenBazaar devs. to do the integration themselves and to be paid in DNS shares...
Quote from: toast on October 04, 2014, 09:30:45 pmDNS delegate subsidy (dilution) could be used for this, assuming openbazaar makes use of the dns dac. We could give them their own namespace even, like .bazSent from my SCH-I535 using TapatalkIt should first be a priority to integrating BitUSD into OpenBazaar merchant nodes. After that, we can talk about how best to airdrop BitUSD on the community. One step at a time. Also, reserve bazaar.p2p and openbazaar.p2p before you launch the DAC.
DNS delegate subsidy (dilution) could be used for this, assuming openbazaar makes use of the dns dac. We could give them their own namespace even, like .bazSent from my SCH-I535 using Tapatalk
We have an OpenBazaar developer response:QuoteThe beauty of OpenBazaar and it being open, is that you don't really need our consideration to do this, you can start working on it yourself or rally troops to help you with this great idea.like it was said before, we're still getting things to a beta stage. Ideally the tools needed to work with BitUSD would be so similar to BTC that it'd be a matter of just replacing the blockchain checks for another one depending on the currency specified in the transaction.It is certainly a possibility and the idea sounds really attractive as a way to get rid of the volatility issue. I've not read a single line about it yet, thanks for bringing it up. Didn't know about BitUSD.http://www.reddit.com/r/OpenBazaar/comments/2i849x/would_you_consider_using_a_nonvolatile_crypto_in/cl0eokn
If OpenBazaar is indeed currency neutral and will support multiple currencies then we definitely need to see it done sooner than later.
If OpenBazaar is indeed currency neutral
TITAN/wallet system wouldn't prohibit the integration, but it would be prohibitive. Hard to know how much unless you are a wallet expert between the 2 + know a bit about openbazaar.
Maybe a dev could comment on whether or not TITAN will prohibit BitUSD integration?
I could not agree more. This really is a perfect union. We solve some of their major problems and they solve ours.I would be open to diluting our shares so OB can give away bitUSD in a promotion. "Fund an OB account with bit$100 and we will give you bit$5 bonus." OB is an excellent brand for us to attach our selves to. They are universally loved by the crypto world and seen as righteous. Either way it is an excellent use of Btsx devs time to do the integration. With the easy fiat>bitUSD on ramp we are building this will be a killer combination.
The thread was downvoted because /r/OpenBazaar redditors are mostly /r/Bitcoin delusionals. The developers themselves are open to altcoin integration and already have other coins actively working on integration i.e. Darkcoin. Secondly, it seems from the posts I've read that it's up to the merchants to accept any coin they want, so long as theres code for it. I think a merchant is a node and the nodes decide what coins they want to accept / the code for a node is their choice. The glass is half full gamey.
I propose that a well know member a community should create a BtishareX account and we all can send bitUSD to this account, when we have enough founds are in there we hire a developer.
OB is open-source - we should ask I3 to task some dev time to integrating bitUSD.As a substantial AGS investor I would support the use of AGS funds for OB/bitUSD integration.The ROI could be enormous and there is really no better way to jump-start bitUSD adoption.
OB is open-source - we should ask I3 to task some dev time to integrating bitUSD.Make it easy for the OB devs; I3 has one of the best crypto teams in the business.As an AGS investor I would support the use of AGS funds for OB/bitUSD integration.The ROI could be enormous and there is really no better way to jump-start bitUSD adoption.
Well let's crowd found this and make a bounty . I have no idea how much will be need it for development though.
Quote from: Gentso1 on October 04, 2014, 12:12:15 amI love the idea of open bazaar but and I am curious about the multi-sig transaction myself as it truly represents a trust-less system.I quickly looked at their forums to see how white to grey to black their markets intend to go but I could not find a answer.I've been following OB since its inception and the devs have stated many times they want to attract non-drug activity. That's why I'm suggesting we get behind this. BitUSD will allow for legitimate products and services on OB.
I love the idea of open bazaar but and I am curious about the multi-sig transaction myself as it truly represents a trust-less system.I quickly looked at their forums to see how white to grey to black their markets intend to go but I could not find a answer.
The developers themselves are open to altcoin integration and already have other coins actively working on integration i.e. Darkcoin. Secondly, it seems from the posts I've read that it's up to the merchants to accept any coin they want, so long as it's supported. I think a merchant is a node and the nodes decide what coins they want to accept.
1. concentrate on a small community and solve a problem here (ebay at that time)
Look at the reddit thread, they actively downvoted the thread. No one is ready to give up on Bitcoin. Once they get it going with Bitcoin it will fragment their marketplace to have a 2nd one. Realistically speaking without paying and hiring developers to work on this, the chances of them integrating BitUSD are near 0.
Quote from: MeTHoDx on October 04, 2014, 02:17:51 amStrategically, I don't think you'll get many opportunities as perfect as this.I could not agree more. This really is a perfect union. We solve some of their major problems and they solve ours.I would be open to diluting our shares so OB can give away bitUSD in a promotion. "Fund an OB account with bit$100 and we will give you bit$5 bonus." OB is an excellent brand for us to attach our selves to. They are universally loved by the crypto world and seen as righteous. Either way it is an excellent use of Btsx devs time to do the integration. With the easy fiat>bitUSD on ramp we are building this will be a killer combination.
Strategically, I don't think you'll get many opportunities as perfect as this.
Blockchain already supports multisig.
I'm not going to make some penultimate statement, but generally coins that support multisig transactions could be added in the future. Our plans don't currently involve it due to resource constraints and testing support, but it wouldn't be that hard to add it on.
Yes, that's correct. It would also require having notaries that are willing to use the alt-coin as well, all three parties need to have a key to the multisig.
The only thing I think you'll need to put more thought into is if you're talking about putting alt-coins into the existing OB network then you need to make sure that all parties are capable of doing multisig with that coin (all parties being buyer, seller, and notary). So we'll need some way of clarifying which notaries can be used for alts, that type of thing.