376
General Discussion / Re: User toast has moved over to the BTS MUSIC project
« on: April 20, 2015, 11:28:46 am »
If Toast is focusing on Music, does that also have positive benefits for BitShares as well?
Show Posts
This section allows you to view all posts made by this member. Note that you can only see posts made in areas you currently have access to.
377
General Discussion / Re: BitAssets 3.0 - For Community Review
« on: April 20, 2015, 08:33:30 am »Isn't it possible, albeit unlikely that the least collateralized short has less than 100% collateral?
Thats why least prioritized shorts are cancelled first, so that hopefully never happens.
378
General Discussion / Re: BitShares Community News - The Nullstreet Journal - Volume 0.3
« on: April 19, 2015, 10:49:06 pm »
Wow I need this just to keep tabs on the huge amount of stuff thats going on 
379
General Discussion / Re: Gavin's thoughts on mining
« on: April 19, 2015, 09:17:26 pm »Why would you buy again once the block reward halves? It does not necessarily imply an increased price IMHO
I think it does allow for an increase in the price. Bitcoin is a tug of war between the $ entering the economy and the amount of $ spent on mining. The block reward halving next year will shift the balance of that tug of war to arrive at a higher equilibrium price.
Of course hopefully Bitshares will be as accessible as a regular exchange by then and therefore be profitable.
The problem is those people treat Satoshi as a god when they should be adjusting his poorly conceived inflation schedule with a hardfork.
They should keep the same hard limit and inflation schedule, just change who the new coins are issued to (Delegates like Gavin who wont dump like miners). The ironic thing is that Gavin in that conversation was also talking about the money issues that the Foundation is having and how to fund Core development. He is literally choosing to burn money instead of paying himself.
380
General Discussion / Gavin's thoughts on mining
« on: April 19, 2015, 10:19:37 am »
Im watching a meetup with Gavin Andresen, and hes saying stuff thats making me scratch my head:
"It seems like the big drop [from $1000] was when China said..."
He must know that because mining difficulty goes up with the price that miners are forced to sell to break even, therefore the price of $1000 was totally unsustainable given that it would require billions of $ from buyers to keep the price up.
Second bizarre thing he says:
"Mining centralization & decentralization will go in waves".
He compares mining to the evolution of computing from mainframes -> PCs -> phones connected to the cloud. When in reality the higher the price the more people are incentivized to make specialized ASICs. Its a one-way trajectory.
Here's where the China & mining discussion starts:
https://youtu.be/RIafZXRDH7w?t=18m08s
Its an eye opener that the Bitcoin Core developers seem to be so slow compared to whats going on here. It reinforces my view not to buy any Bitcoin until the block reward halving which is still a year away.
"It seems like the big drop [from $1000] was when China said..."
He must know that because mining difficulty goes up with the price that miners are forced to sell to break even, therefore the price of $1000 was totally unsustainable given that it would require billions of $ from buyers to keep the price up.
Second bizarre thing he says:
"Mining centralization & decentralization will go in waves".
He compares mining to the evolution of computing from mainframes -> PCs -> phones connected to the cloud. When in reality the higher the price the more people are incentivized to make specialized ASICs. Its a one-way trajectory.
Here's where the China & mining discussion starts:
https://youtu.be/RIafZXRDH7w?t=18m08s
Its an eye opener that the Bitcoin Core developers seem to be so slow compared to whats going on here. It reinforces my view not to buy any Bitcoin until the block reward halving which is still a year away.
381
General Discussion / Re: do we have some dev plan for dns(keyid) & vote?
« on: April 17, 2015, 07:28:13 am »Fork your own browser.
Whats the point in forking a browser or making a plugin if no one will use it? Its a chicken & egg problem - no one will install that new browser because there arent any popular domain names on the blockchain because there's no point registering any.
382
General Discussion / Re: BitAssets 3.0 - For Community Review
« on: April 17, 2015, 06:57:58 am »
All sounds great, but this guarantees liquidity for the longs, but not the shorts, which was another criteria in the other thread. Will shorts still have to struggle to find BitUSD for sale when covering?
383
General Discussion / Re: BitAssets 2.0 - For Community Review
« on: April 16, 2015, 07:47:46 pm »
To guarantee redeemability to the shorts why not just make BitUSD that hasnt moved for a year expire? You could offer the option to pay a tiny extra transaction fee if you really want to hold BitUSD forever, but most people probably would never need this. Anyone who trusts that BitUSD really works is long term bullish on BTS so would not want to hold BitUSD for an entire year anyway.
Then every day you have up to 1/365 of all BitUSD being sold back. This would at least partially help shorters who need to cover.
This is a lot simpler than creating multiple phased BitUSD markets.
Then every day you have up to 1/365 of all BitUSD being sold back. This would at least partially help shorters who need to cover.
This is a lot simpler than creating multiple phased BitUSD markets.
384
General Discussion / Re: do we have some dev plan for dns(keyid) & vote?
« on: April 16, 2015, 04:57:07 pm »
Said this before, but anyway: DNS needs partnerships with browsers and/or ISP dns servers before anyone will care about registering a domain name on a blockchain. Mozilla/Chrome would rather do their own dns blockchain in the off-chance that anyone cared about decentralized dns.
Partnering with smaller groups like the TOR project/Pirate Bay might be possible.
Partnering with smaller groups like the TOR project/Pirate Bay might be possible.
385
General Discussion / Re: Hangout Questions for Bytemaster (Due Friday @ 10:00am EST)
« on: April 15, 2015, 10:40:28 pm »@Bytemaster
Is it desirable to bring DRIP and margin trading like functionality onto Bitshares?
I dont know what DRIP is, but margin trading will be facilitated by the bond market, which is coming post-1.0
386
General Discussion / Re: NeuCoin distribution program to Bitshares holders
« on: April 15, 2015, 03:52:07 pm »
What is the point of NeuCoin? Will it make blockchains profitable? If you have something innovative to add to cryptocurrency then why not propose a paid delegate for yourself and add it into BitShares?
387
General Discussion / Re: Coinless blockchains, brilliant or evil?
« on: April 15, 2015, 11:18:12 am »
Here's my take on it:
If you want a blockchain to store value in a trustless manner, then tokens of value must be intrinsic to that blockchain. Without tokens of value you could still transmit value by trading IOUs etc, but that of course wouldn't be trustless.
Token-less blockchains (i.e. append-only databases) seem to be niche, i.e. big companies are researching how then can use them for their own specialized needs. Therefore they're not really competing with Bitcoin itself which is why I don't see the need for all the tension.
You can take advantage of the redundancy properties of blockchains for interesting things like a distributed github for example. But maybe you still need an underlying token to charge users to not spam the network. I dont know, thats why I hope people try new things and innovate instead of just spreading FUD against trying new things with blockchains.
If you want a blockchain to store value in a trustless manner, then tokens of value must be intrinsic to that blockchain. Without tokens of value you could still transmit value by trading IOUs etc, but that of course wouldn't be trustless.
Token-less blockchains (i.e. append-only databases) seem to be niche, i.e. big companies are researching how then can use them for their own specialized needs. Therefore they're not really competing with Bitcoin itself which is why I don't see the need for all the tension.
You can take advantage of the redundancy properties of blockchains for interesting things like a distributed github for example. But maybe you still need an underlying token to charge users to not spam the network. I dont know, thats why I hope people try new things and innovate instead of just spreading FUD against trying new things with blockchains.
388
General Discussion / Re: Hangout Questions for Bytemaster (Due Friday @ 10:00am EST)
« on: April 14, 2015, 09:44:27 pm »
Whats the plan for ripple-style autobridging to automatically add liquidity? Will it be an atomic operation of the blockchain or a 2 step process in the client?
389
General Discussion / Re: Efficient Internal Market Making, System Order Routing [ Idea ]
« on: April 14, 2015, 09:03:08 pm »Auto routing isn't even going to be really relevant until we have more liquidity and tighter spreads, I think. At that point we could have either auto routing, or people will probably write arb bots.
Assuming we have blockchain based autorouting, how could an arb bot beat that? Surely an atomic operation is the most efficient way to go across 2 markets?
Once autorouting BitUSD:BTS -> BitBTC:BTS adds to the orderbook of BitUSD:BitBTC, the spreads should tighten when people start to use that market directly.
390
General Discussion / Re: Why BitShares isn't Taking off and What we are doing about it.
« on: April 14, 2015, 02:54:36 pm »
I totally agree with Helicopter Ben's analysis. The reason its not taking off is because the product is incomplete (but its getting close). A referral scheme is not going to help if we dont fix that first.
wallet.bitshares.org:
Btw there is a fun video game where you can play as helicopter ben: http://projects.wsj.com/games/thefederator/
wallet.bitshares.org:
- Has no easy deposit page - integration with metaexchange and blocktrades needs to be seamless, not just a link
- Still feels kinda slow
- Needs its own brand identity
- Logging in as a guest and the dashboard is totally empty - needs to be buzzing with activity, e.g. trollbox
Btw there is a fun video game where you can play as helicopter ben: http://projects.wsj.com/games/thefederator/
