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Messages - Geneko

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61
General Discussion / Re: CENTZ CROWDSALE - Billion dollar giftcard industry on the blockchain
« on: January 19, 2017, 08:55:06 pm »
Quote from: lil_jay890 on January 19, 2017, 04:20:36 am

Lets try this again...

These 14 steps have happened with the majority of the UIA's issued on the BTS platform.  Unless a UIA creator starts making a profit and buys back bts on the open market with his fiat profit, he has in essence taken energy out of the system.  The UIA creators, especially the big ones that raise a ton of money, put an incredible amount of stress on the tiny amount of traders who use the DEX.  If the UIA is going to stay profitable the DEX traders need to provide buy support.  Problem is there is not enough traders with excess capital to provide this support.     

Thank you for bringing this issue out of fog.
The problem with UIAa-s is that there is no actual collateral.
The initial investments, which is value given, totaly buypasses Bishares platform.
They dont bring value to the system, they only take the value out of system. This insight was vague for me.
In return investors only get tricky tokens created out of thin air. But investors assumption is that the tokens are somehow collaterized on Bitshares platform, which are clearly not.
Since everyone, with good story, could give in return out of thin air, the confidence in whole Bitshares system depens on REGULATION of UIAs.
We cant rely on assaption that everyone should do is own due diligance. It is big mistake, whole system is built on trust, not on due diligance. It MUST be done more then that.

One of simple solutions could be to remove BTS token out of equity. Introduce "new kind" of UIA that are backed by actual BTS collateral. Those only should be traded for BTS, all others should only be traded by other collateralize coins. Everyone who wants to take value out of system should bring the value first.

This "small change" would mean huge difference.

62
General Discussion / Re: Incentivize SmartCoin collateralization
« on: January 15, 2017, 05:23:35 pm »
Quote from: JonnyBitcoin on January 15, 2017, 02:24:35 am
I don't think it works because you can borrow bitassets and do nothing with them do. As chronos says your can't prove who's really short.
This doesn't improve liquidity .

I am not famiiar with actual code, but I dont see why not, although I dont know, related to our platform, wether it is feasible.

So you introduce 0.1% fee to all send transactions. Buy/Sell has usual fee, borrow and update/close too, payed to the network in BTS.
Now, all short positions receives fee from its coins transactions including Buy/Sell. In Buy /Sell case, Seller pays smartcoin fee and buyer pays network fee in BTS. 
In case you have borrowed and send to another account. You have payed fee to your self. If another account receives and hold, then there is no another transaction and there is no fee. Every time, further account sends, it generates fee for its creator. So it doesn't matter if account that receives is in your possession or not. Eventually it is going to send those funds somewhere and pay fee, which will go to its creator account. All fees payed to its creator, decrease supply of coins, so there is no infinite dilution.

So there is only one question left. How we will know, which account created which coin. Solution is quite simple, every smartcoin sent is basically a record of all previous transactions like bitcoin. Like that they could be easily traced to its creator, the same way bitcoin use record of transactions to provide sum of account held.  Every time position is updated/closed, the amount of smartcoins supplied is burned and the record of transactions with it.

This is basic idea and logic behind and it and may be far away from actual technical solution.

63
General Discussion / Re: Incentivize SmartCoin collateralization
« on: January 14, 2017, 08:11:25 pm »
This is great idea. Thank you for extracting it from the other topic and make it available for discussion.
It will solve low supply of community smart assets. (bitBTC, bitEUR ...).
It will provide what lacks. Incentive for shorters.
I think rasonable fee 0.1% would provide huge benefit. This is same as open.assets. There fee goes to Openledger.
BTWTY and all others to come use same business model.
Model is proven, it is working.

The thing that is brilliant is that Bitshares key feature smart coins will offer benefit to its shorter (the ones that locks collateral, and risk from market swings and margin call). That promise of "Bitshares" was missing all the time. I like idea very much.

64
Stakeholder Proposals / Re: [Worker Proposal] New BitShares Core Dev
« on: January 12, 2017, 09:19:11 pm »
Quote from: Chronos on January 12, 2017, 07:04:46 pm
Quote from: Geneko on January 12, 2017, 06:25:28 pm
Beside subsidized request, kencode has offered us his reputation. In my opinion and with all respect to others, it is worth more.

It's funny, because KenCode had quite a poor reputation here a couple years ago. He was accused of scamming Floridans with a fraudulent gun school. There was an entire website with details about it. He was also accused of running a solar panel scam in 2007, where he never shipped the panels to buyers. More details can be found through a simple web search.

It's remarkable how that has changed. Thanks for sticking around, @kenCode!

Nobody is perfect  ;)

65
Stakeholder Proposals / Re: [Worker Proposal] New BitShares Core Dev
« on: January 12, 2017, 06:25:28 pm »
Quote from: btswildpig on January 12, 2017, 04:40:28 pm

i feel more comfortable to pay someone who is willing to take financial risk with bitshares to perform work on bitshares rather seeing it as a work place.

 +5% kencode
I totaly agree.

As I understand proposition, it would be undefined overlap between existing workers, Soledgers, Svks and future Alfredo Garcias.
How they will divide jobs and responsibilities. BTW what are jobs and responsibilities of current workers? Is there any clear road map for them.
Can we track and measure theirs accomplishments?
Only one thing to tell about that, the accomplishment that isn't measured, it isn't improving.

I like the way @kenCode manages his projects, specially reports about his work. It should be "minimum standard behavior" for
all Bitshares Workers. Finally it is good thing for workers to compete between each other or find common ground and collaborate.
Either way community is on gain.

Beside subsidized request, kencode has offered us his reputation. In my opinion and with all respect to others, it is worth more.



66
General Discussion / Re: Brainstorm - Bit20 MSSR / margin call
« on: January 07, 2017, 10:39:20 pm »
Quote from: svk on January 07, 2017, 09:44:19 pm
Margin calls only happen once the call price goes below the feed price.

Once you get margin called, the order will execute UP TO the sqp price, think of it as a premium with an upper limit.
Are you sure?

Call price is set:
BorrowedAssetAmmount*feed price*175%>=collateral

Quote from: nmywn on January 07, 2017, 04:42:25 pm

I think you're wrong. Margin call wil trigger if your collateral < 192.5% - that's why you cannot open position.


I was convinced too margin call is triggered at:
BorrowedAssetAmmount*feed price*175%*110%>=collateral

67
General Discussion / Re: Brainstorm - Bit20 MSSR / margin call
« on: January 07, 2017, 12:02:57 am »
Quote from: nmywn on January 06, 2017, 03:56:28 pm
  I don't understand why holders aren't selling? Holders belive that price will go up, but if this happen they get rect by black swan and as long as i know we don't have mechanism (yet) to cover holders even at loos. So while price of ASSET is rising, after black swan they get nothing or better to say minus 100%.
This is because of individual acting in its own self interest rather then mutual interest. Game theory offers explanations of those scenarios.
Anyway there is shortage in supply of smart coins. Market only reflects that. You can always sell above feed price and you cant buy enough well under feed price.

Quote from: nmywn on January 06, 2017, 01:58:49 pm
It will force shorters to cover called positions at whatever price market offer up to 1.5 * feed price.
What if market selling higher than 1.5*feed? It's mean SQP is to low and ASSET is no longer covered, because margin calls cannot be executed.
In my opinion SQP is the thing to mess around.
In my opinion too but I think it should be opposite of that
SQP should be set to 0% and margin call price for instance 300%.
SQP 10% is deviation, which is reflected on the market price, where buy orders goes only to 1/1.1=0.909 feed price (you never know when somebody could be margin called - place sell order 10% bellow feed price) and sell order goes well below feed price accordingly.
Obviously there is something wrong with such market. SQP is artificial incentive, neglecting market property to correct it self.
As for margin call it is: forced sell order - which doesn't have to be filled all at once but should last as long as there are not enough collateral.
It is same as now. Only difference is in that initial marging call buys 10% range of order book and then buys every offer 10% bellow feed price.

68
General Discussion / Re: Brainstorm - Bit20 MSSR / margin call
« on: January 05, 2017, 11:33:05 pm »
I understand it this way:
SQP ( Squeeze protection price) is 10%, force buying back discount range.
At 175% collateral x 1.1(SQP) =192% to feed price, marging call trigers buying back in 175-192% range, meaning, if for instance in bitBTC market:
BTS/bitBTC feed price is 250,000 or bitBTC/BTS is 0.00000400, everyone who owns 1 bitBTC needs to lock 250,000x192%=480,000 colateral.
If it doesn't have enough , then it is forced to buy back bitBTC in price range of 1.1x250,000=275,000 - 250,000 BTS/bitBTC
or 0.000003636-0.00000400 bitBTC/BTS price range.
As feed price moves down, SQP moves with it through order book.

69
Technical Support / Re: Recover from 18 word seed generated on Bitshares 1.0
« on: December 30, 2016, 09:57:29 pm »
Sorry I cant help you neither with that, I suppose @xeroc  could.

70
Technical Support / Re: Recover from 18 word seed generated on Bitshares 1.0
« on: December 30, 2016, 12:09:45 am »
I am not tech guy but before somone come to rescue you, here try this.
If you can see your Bitshare 1.0 account name in Bitshares 2.0 then you have successfully recovered your wallet (I don't know is it possible), make new password and create backup of your wallet FIRST. Then skip first part and use second part of this guide. If not try this route.
First Part
Download bitshares wallet 0.93c install and synchronize it and try to recover wallet from your brain key.
If successful make new password and export your wallet, details about migration here:
http://docs.bitshares.eu/migration/
Import in Bitshares 2.0 Light wallet and unlock it using password you have created earlier.
Second part
If successful you will be able to see your account in Bishares 2.0. You will also see your account balance. Create backup of your wallet FIRST.
To claim unclaimed balances from merger you will need to do this. In the upper right corner you will see your account name and the arrow facing down. There you can find settings/wallet, scroll down and find lookup balances,
there you can find your unclaimed balances. Claim balances and you will have all your funds. 

71
General Discussion / Re: AGS investor out of the loop
« on: December 26, 2016, 07:55:24 pm »
Here you can find more about ags claim:
https://bitsharestalk.org/index.php/topic,6020.msg83018.html#msg83018

72
General Discussion / Re: AGS investor out of the loop
« on: December 26, 2016, 07:39:12 pm »
Basically you will need Bitshares 1.0 version wallet. There you should import ags (private keys)
From there version 0.93 (i think) you  should export json file (backup wallet) and claim you balances in 2.0 version.
This is basic steps but more detailed instructions you can find hire:

http://docs.bitshares.eu/migration/



73
DAC PLAY / Re: steps to import PLAY key from a command prompt?
« on: December 22, 2016, 11:14:21 pm »
Quote from: merockstar on May 19, 2016, 07:20:43 pm
Can anybody help me with this? I just want to claim my PLS and get out of it.

I think the answer lays in the last part of your question. BTW I would like to claim my balance too but I suppose no body will bother to provide the answer.

74
General Discussion / Re: How do I claim vested balances from merger?
« on: September 30, 2016, 06:39:31 am »
Try this one.
Go to Settings- Wallet Management Console
Search for Balance Claims button (third on the right) -Lookup Balances
Click on this - there you have unclaimed balances

75
General Discussion / Re: Steem - What I am Doing About It and How I Need Your Help
« on: July 20, 2016, 12:00:46 pm »
Quote from: oldman on July 19, 2016, 05:37:25 am
If  you have any feedback on how to make these posts better please do not be shy.

Hey Old Man go one and make this happen, if you want to make quality content, please read this one:
Rudolf Flesch - How to Write Speak and Think more effectively
you can get it from openlibrary.org

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