BitShares Forum
Main => General Discussion => Topic started by: monsterer on November 25, 2014, 07:52:16 pm
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Hi all,
This is the MetaExchange 100% pay rate delegate voting campaign. Delegate name: dev-metaexchange.monsterer
What is MetaExchange?
MetaExchange is a website designed to lower the barrier to entry of owning and trading Bitshares to zero. It will do this by:
* Providing peer to peer on-ramps for BTS, bitUSD and the other major Bitshares assets.
* Acting as a web-wallet, allowing people to get started with Bitshares, without having to download the client and wait hours for it to sync just to see what all the fuss is about.
* Providing a slick trading interface and market view which will be familiar to forex/bitcoin traders
Who are we?
monsterer:
My name is Paul Firth, I have been a professional c++ software developer for 10 years. On this project, I am partnering with Shentist who is helping me shape the vision for MetaExchange and also providing the funding for my delegate registration.
I also run a blog about software development: http://wildbunny.co.uk/blog and a limited company (Wildbunny) based in the UK.
shentist:
My name is Frank Ahrens, I am in software support. I am happy that Paul and I could find common ground to combine our visions to produce something that we think will help BitShares as a whole greatly. On this project I'm helping with the vision and handling the legal and business side.
What is the planned release schedule?
* Release 1 will be a Bitshares market viewer, allowing users to browse markets and assets in a setting familiar to any trader who might have used a bitcoin exchange
* Release 2 will add the peer-to-peer on-ramp system, which will allow users to post bid/asks for trading BTS and the major Bitshares assets for bitcoin. In this system, MetaExchange will act as a escrow agent to facilitate safe peer to peer exchange of assets for bitcoin.
* Release 3 will be web-wallet and Fiat on-ramps adding to the peer-to-peer exchange, possibly by cooperation with Fidor Bank AG.
Peer-to-peer exchange has a number of great advantages, like providing an easy way for Bitshares users to get large quantities of BTS or assets without directly moving the market. We also won't hold any private keys, because we believe strongly in security of our user's funds.
How far through development are you?
MetaExchange has been in part-time development for a little while now, but it's tough to get enough free time to work on it actively, which is why we're campaigning for a 100% delegate. I estimate that we're about 50% of the way into release 1.
What is the delegate name?
dev-metaexchange.monsterer
In closing, we literally can't do this project without your support. We need your vote! Thank you for your consideration.
Paul aka monster / Frank aka Shentist.
Github repo
https://github.com/wildbunny/metaexchange
P.s. here are some screen-shots of the development build to whet your appetite:
(http://i.imgur.com/RnvsUfz.png)
(http://i.imgur.com/JwCfsOi.png)
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+1
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+5%
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i helped monsterer to fund his delegate and i hope we can get him to be elected.
we have many ideas, but we choose just to present some we could do in a short time. so expect more.
and VOTE :D
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svk & monsterer... I hope you two can work together toward a common open source codebase.
It would be very helpful if monsterer could produce an opensource "gateway" node that will do the following:
1) When a BTC transaction is received for X BTC with N confirmations, send X MEBTC to the public key of one of the signers on the transantion.
2) When Y MEBTC is received send Y BTC to the public key of the "from" account in the transaction.
Provide this as a standalone daemon that talks with bitcoind and bitshares_client.
I do think it is critical that you open source your work if it is paid for by the BTS holders. BTS holders benefit maximally by having all work open sourced and services such as MetaExchange competing based upon reputation and network effect that cannot be copied.
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Release 2 is bitcoin IOU gateway functionality, but the trades still have to be done in the local client?
Really looking forward to it either way, will be amazing to get an online wallet. Also I really like the name. I will definitely be voting when I take my BTS out of cold storage (which unfortunately will still take a while).
Edit: That was quick.
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svk & monsterer... I hope you two can work together toward a common open source codebase.
It would be very helpful if monsterer could produce an opensource "gateway" node that will do the following:
1) When a BTC transaction is received for X BTC with N confirmations, send X MEBTC to the public key of one of the signers on the transantion.
2) When Y MEBTC is received send Y BTC to the public key of the "from" account in the transaction.
Provide this as a standalone daemon that talks with bitcoind and bitshares_client.
Sounds simple enough - but what is MEBTC?
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svk & monsterer... I hope you two can work together toward a common open source codebase.
It would be very helpful if monsterer could produce an opensource "gateway" node that will do the following:
1) When a BTC transaction is received for X BTC with N confirmations, send X MEBTC to the public key of one of the signers on the transantion.
2) When Y MEBTC is received send Y BTC to the public key of the "from" account in the transaction.
Provide this as a standalone daemon that talks with bitcoind and bitshares_client.
Sounds simple enough - but what is MEBTC?
i think he means IOU BTC on the blockchain. but i don't understand the difference to bitBTC
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svk & monsterer... I hope you two can work together toward a common open source codebase.
It would be very helpful if monsterer could produce an opensource "gateway" node that will do the following:
1) When a BTC transaction is received for X BTC with N confirmations, send X MEBTC to the public key of one of the signers on the transantion.
2) When Y MEBTC is received send Y BTC to the public key of the "from" account in the transaction.
Provide this as a standalone daemon that talks with bitcoind and bitshares_client.
Sounds simple enough - but what is MEBTC?
MEBTC is a USER issued Asset by MetaExchange... an IOU asset that you list. It will greatly help onboard new users.
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Release 2 is bitcoin IOU gateway functionality, but the trades still have to be done in the local client?
Release 2 is person to person bitcoin / bitasset on/off ramps, so cross chain with metaexchange acting as the escrow agent.
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IOU BTC is redeemable for real BTC 1 to 1 with no spread (or a small fee charged by the IO provider).
BitBTC has a larger spread because of liquidity issues.
IOUBTC vs BitBTC market will help increase BitBTC liquidity and offer similar benefit to relative price feeds but slightly higher trust in the IOU issuer.
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Release 2 is bitcoin IOU gateway functionality, but the trades still have to be done in the local client?
Release 2 is person to person bitcoin / bitasset on/off ramps, so cross chain with metaexchange acting as the escrow agent.
I'm asking you to prioritize an open source gateway daemon over your other services because it will allow many people to offer gateways and thus help the community greatly.
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IOU BTC is redeemable for real BTC 1 to 1 with no spread (or a small fee charged by the IO provider).
BitBTC has a larger spread because of liquidity issues.
IOUBTC vs BitBTC market will help increase BitBTC liquidity and offer similar benefit to relative price feeds but slightly higher trust in the IOU issuer.
i understand.
i just see trust problems in the beginning, but maybe it can be done with a community trust or something who will backup the IOU!
so we would trade metaexhangeBTC against real BTC...
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MEBTC is a USER issued Asset by MetaExchange... an IOU asset that you list. It will greatly help onboard new users.
Ok, I'm with you now - this should be quite easy. I'll make it priority number 1 :)
edit: wow, we've been voted in! Thank you bytemaster!
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IOU BTC is redeemable for real BTC 1 to 1 with no spread (or a small fee charged by the IO provider).
BitBTC has a larger spread because of liquidity issues.
IOUBTC vs BitBTC market will help increase BitBTC liquidity and offer similar benefit to relative price feeds but slightly higher trust in the IOU issuer.
i understand.
i just see trust problems in the beginning, but maybe it can be done with a community trust or something who will backup the IOU!
so we would trade metaexhangeBTC against real BTC...
No MetaExchange BTC is an IOU for real BTC... it should be 100% redeemable no trading necessary. You trade it against BitBTC>
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svk & monsterer... I hope you two can work together toward a common open source codebase.
It would be very helpful if monsterer could produce an opensource "gateway" node that will do the following:
1) When a BTC transaction is received for X BTC with N confirmations, send X MEBTC to the public key of one of the signers on the transantion.
2) When Y MEBTC is received send Y BTC to the public key of the "from" account in the transaction.
Provide this as a standalone daemon that talks with bitcoind and bitshares_client.
Sounds simple enough - but what is MEBTC?
Upon closer examination you shouldn't send BTC to the "From" of the account because that would end up leaking private info. Instead send it to the "one_time_key" property of the memo, the sender should have the private key for that.
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Looks like you've been voted straight in, well I added my vote in too :) +5%
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IOU BTC is redeemable for real BTC 1 to 1 with no spread (or a small fee charged by the IO provider).
BitBTC has a larger spread because of liquidity issues.
IOUBTC vs BitBTC market will help increase BitBTC liquidity and offer similar benefit to relative price feeds but slightly higher trust in the IOU issuer.
i understand.
i just see trust problems in the beginning, but maybe it can be done with a community trust or something who will backup the IOU!
so we would trade metaexhangeBTC against real BTC...
The IOU will be backed by the funds received. When you receive BTC you give IOU 1:1. When you receive IOU you give BTC 1:1. The only thing that matters is that you and monsterer can be trusted with holding these BTC, which I think most people agree you can. Especially when you can expect to make a lot of money from it over time through the delegate or from fees.
I think it would be cool to also have private gateway addresses in addition to the public address that anyone can send BTC to and get IOU in return. So you could use your BTS account to somehow register with the gateway, and you would get a BTC address in return that automatically sends IOU's directly to the address you registered with whenever it receives BTC.
When the online wallet comes online it there could even be an "instant" automatic gateway with every new signup. So when you register as a new user you get a private BTC gateway address in addition to your BTS address, and any BTC send to the private gateway will make it send MEBTC to your BTS address, and these MEBTC can instantly be traded for bitBTC through metaexchange. Would make it extremely easy for a bitcoin user to instantly get into BTS.
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IOU BTC is redeemable for real BTC 1 to 1 with no spread (or a small fee charged by the IO provider).
BitBTC has a larger spread because of liquidity issues.
IOUBTC vs BitBTC market will help increase BitBTC liquidity and offer similar benefit to relative price feeds but slightly higher trust in the IOU issuer.
i understand.
i just see trust problems in the beginning, but maybe it can be done with a community trust or something who will backup the IOU!
so we would trade metaexhangeBTC against real BTC...
The IOU will be backed by the funds received. When you receive BTC you give IOU 1:1. When you receive IOU you give BTC 1:1. The only thing that matters is that you and monsterer can be trusted with holding these BTC, which I think most people agree you can. Especially when you can expect to make a lot of money from it over time through the delegate or from fees.
I think it would be cool to also have private gateway addresses in addition to the public address that anyone can send BTC to and get IOU in return. So you could use your BTS account to somehow register with the gateway, and you would get a BTC address in return that automatically sends IOU's directly to the address you registered with whenever it receives BTC.
When the online wallet comes online it there could even be an "instant" automatic gateway with every new signup. So when you register as a new user you get a private BTC gateway address in addition to your BTS address, and any BTC send to the private gateway will make it send MEBTC to your BTS address, and these MEBTC can instantly be traded for bitBTC through metaexchange. Would make it extremely easy for a bitcoin user to instantly get into BTS.
I think we want to have "provable reserves" THE IOU supply should equal the balance on blockchain.info for the gateway BTC address.
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IOU BTC is redeemable for real BTC 1 to 1 with no spread (or a small fee charged by the IO provider).
BitBTC has a larger spread because of liquidity issues.
IOUBTC vs BitBTC market will help increase BitBTC liquidity and offer similar benefit to relative price feeds but slightly higher trust in the IOU issuer.
i understand.
i just see trust problems in the beginning, but maybe it can be done with a community trust or something who will backup the IOU!
so we would trade metaexhangeBTC against real BTC...
The IOU will be backed by the funds received. When you receive BTC you give IOU 1:1. When you receive IOU you give BTC 1:1. The only thing that matters is that you and monsterer can be trusted with holding these BTC, which I think most people agree you can. Especially when you can expect to make a lot of money from it over time through the delegate or from fees.
I think it would be cool to also have private gateway addresses in addition to the public address that anyone can send BTC to and get IOU in return. So you could use your BTS account to somehow register with the gateway, and you would get a BTC address in return that automatically sends IOU's directly to the address you registered with whenever it receives BTC.
When the online wallet comes online it there could even be an "instant" automatic gateway with every new signup. So when you register as a new user you get a private BTC gateway address in addition to your BTS address, and any BTC send to the private gateway will make it send MEBTC to your BTS address, and these MEBTC can instantly be traded for bitBTC through metaexchange. Would make it extremely easy for a bitcoin user to instantly get into BTS.
I think we want to have "provable reserves" THE IOU supply should equal the balance on blockchain.info for the gateway BTC address.
But doesn't that mean you always have to import your bitcoin private key into another wallet to use a gateway? I think many people will want to avoid that. However it's definitely a neat feature if all the received BTC is always auditable by everyone.
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@Shentist : From what I recall you are living in Germany .. maybe you can group up with delulo and visit https://www.cryptocurrency-bank.com/ ..
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But doesn't that mean you always have to import your bitcoin private key into another wallet to use a gateway? I think many people will want to avoid that. However it's definitely a neat feature if all the received BTC is always auditable by everyone.
You'll have to import your bitcoin wallet.dat into your bitshares wallet because you cannot include any useful information inside a bitcoin transaction (such as bitshares payment address), so we have to assume you want the coins sent to the public key referenced in the transaction.
...I suppose there is a nice way to go from bitcoin public key to bitshares address?
The alternative, future method would rely on the web-wallet functionality: the user creates a web wallet, signs in, then the system can do the mapping from their signed in account's address and the bitcoin send to address that it will auto generate for them.
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...I suppose there is a nice way to go from bitcoin public key to bitshares address?
https://bitsharestalk.org/index.php?topic=8907.msg115470#msg115470
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...I suppose there is a nice way to go from bitcoin public key to bitshares address?
https://bitsharestalk.org/index.php?topic=8907.msg115470#msg115470
Fantastic! Many thanks :)
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if possible,please contact “cn-members” do some translate to chinese,so we can read more about this.thanks.
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...I suppose there is a nice way to go from bitcoin public key to bitshares address?
https://bitsharestalk.org/index.php?topic=8907.msg115470#msg115470
Fantastic! Many thanks :)
Listening to the latest mumble hangout it seems the devs will allow tranfers to BTC address too .. not just a BTS pubkey derived from a BTC pubkey .. but also a BTC address ..
let's wait for the code and clarification
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Release 2 is bitcoin IOU gateway functionality, but the trades still have to be done in the local client?
Release 2 is person to person bitcoin / bitasset on/off ramps, so cross chain with metaexchange acting as the escrow agent.
I'm asking you to prioritize an open source gateway daemon over your other services because it will allow many people to offer gateways and thus help the community greatly.
+5% +5% +5%
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Listening to the latest mumble hangout it seems the devs will allow tranfers to BTC address too .. not just a BTS pubkey derived from a BTC pubkey .. but also a BTC address ..
let's wait for the code and clarification
Yes, the plan is for two way operation. The design will have two addresses, one BTC and one BTS. Transactions arriving at the BTC address will use the method you posted to go from the sender's public key to a BTS address. Transactions arriving at the BTS address will take the 'one_time_key' property of the memo inside the transaction, then do magic* on it to turn it into a bitcoin address.
* I'm hoping that the magic isn't non-trivial
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@Shentist : From what I recall you are living in Germany .. maybe you can group up with delulo and visit https://www.cryptocurrency-bank.com/ ..
i am aware of fidor-tec.
december is not possible for me to go there, but we will talk to them later on.
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+5%
Looks like the website a combination of online wallet and trade website.
I wander the vote and short/bid functions work in your website?
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if possible,please contact “cn-members” do some translate to chinese,so we can read more about this.thanks.
Translated: https://bitsharestalk.org/index.php?topic=11779.0
Many thanks to cn-members :)
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Upon closer examination you shouldn't send BTC to the "From" of the account because that would end up leaking private info. Instead send it to the "one_time_key" property of the memo, the sender should have the private key for that.
Looking into this now - I'm not seeing the 'one_time_key' property in the RPC response for wallet_account_transaction_history. Is it being written out?
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IIRC you need to get the transaction details individually
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IIRC you need to get the transaction details individually
You're right - bit of a PITA having to get each one individually, tho.
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Hey everyone - just a reminder, if you didn't yet vote for our delegate, please do - we're only just hanging in there at position 98 in the rankings, quite close to being pushed out :)
At the request of bytemaster, I'm working on an bitcoin->bitshares on-ramp daemon which will be fully open-source and will enable other businesses to offer on and off ramps into bitshares.
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+5% This looks awesome. You have my vote next time I'm in the client.
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Hey everyone - just a reminder, if you didn't yet vote for our delegate, please do - we're only just hanging in there at position 98 in the rankings, quite close to being pushed out :)
At the request of bytemaster, I'm working on an bitcoin->bitshares on-ramp daemon which will be fully open-source and will enable other businesses to offer on and off ramps into bitshares.
Done.
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Many thanks :)
In lieu of a subforum for metaexchange, I'll post this here - track my progress via github: https://github.com/wildbunny/metaexchange
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Please repo your progress.
as a 100% delegate,you should bring us at least a weekly report.
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just take a look at the github
https://github.com/wildbunny/metaexchange/commits/master
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Please repo your progress.
as a 100% delegate,you should bring us at least a weekly report.
Quite right - here you go: https://bitsharestalk.org/index.php?topic=12317.0 :)