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.


Messages - JonnyB

Pages: 1 ... 19 20 21 22 23 24 25 [26] 27 28 29 30 31 32 33 ... 43
376
General Discussion / Re: Graphene: Data security and verification on the chain
« on: February 13, 2016, 03:27:45 am »
@complexring  @BunkerChain Labs
Your question is: when SIDEBTC is transferred the previous owner will still have the public key so its not secure.

This is how it works, there a 3 types of BTC
1. real BTC
2. SIDEBTC
3. BITBTC (like current bitbtc but collatralised 1:1 with side btc)

So SIDEBTC cannot be transfered ever. The owner of it uses it as collateral to create BITBTC which can be transfered.

377
General Discussion / Re: Graphene: Data security and verification on the chain
« on: February 13, 2016, 01:49:14 am »
Quote from: abit on February 13, 2016, 01:38:36 am
Quote from: JonnyBitcoin on February 13, 2016, 01:20:58 am
@noisy I have taken what i think you are getting at and changed it a bit. I think this could work?? @xeroc  @tbone @complexring @abit @JonnyBitcoin @brainbug @Shentist @Akado @TravelsAsia @BunkerChain Labs @merivercap @btswildpig @fuzzy @bytemaster

Bitshares generates a 2 of 2 multisig bitcoin address. 1 of these signitures is held by the witnesses. The other signature is held by the bitshares users account.
The user deposits bitcoin to this new btc account and will only be able to retrieve it when the witnesses provide the other key.
Bitshares then generates a sideBTC token for the user.
The user can then use this SIDEBTC as collateral to create BITBTC.  but they will only need 100% collateral and have zero risk of margin call or force settlement.

To regain access to his realbtc he will need to repay all debts. Bitshares the destroys  the SIDEBTC token and allows access to the real BTC by getting the witnesses to sign with the second key.
So witnesses are not allowed to deposit? Since they know the private key. They can even tell the key to others.

Witnesses only have half the private key (1 of 2).   Witnesses will have to create new personal accounts if they want to deposit btc in this way.

378
General Discussion / Re: Graphene: Data security and verification on the chain
« on: February 13, 2016, 01:20:58 am »
@noisy I have taken what i think you are getting at and changed it a bit. I think this could work?? @xeroc  @tbone @complexring @abit @JonnyBitcoin @brainbug @Shentist @Akado @TravelsAsia @BunkerChain Labs @merivercap @btswildpig @fuzzy @bytemaster

Bitshares generates a 2 of 2 multisig bitcoin address. 1 of these signitures is held by the witnesses. The other signature is held by the bitshares users account.
The user deposits bitcoin to this new btc account and will only be able to retrieve it when the witnesses provide the other key.
Bitshares then generates a sideBTC token for the user.
The user can then use this SIDEBTC as collateral to create BITBTC.  but they will only need 100% collateral and have zero risk of margin call or force settlement.

To regain access to his realbtc he will need to repay all debts. Bitshares the destroys  the SIDEBTC token and allows access to the real BTC by getting the witnesses to sign with the second key.

379
General Discussion / Re: Graphene: Data security and verification on the chain
« on: February 13, 2016, 12:50:52 am »
Quote from: noisy on February 12, 2016, 09:27:34 pm
What if we combine this idea with 2 of 2 multisig, and multisig address for each deposit?


1. User want to deposit a BTC in bitshares blockchain.
2. he generate a public key with bitshares wallet, where private key is stored into blockchain with our brand new "Enigma: Decentralized Computation Platform".

Even if all witnesses collude, this doesn't matter, because..

3. user generate own public and private key. He use his public key and key provided by bitshares network, to create a bitcoin 2 of 2 address.
4. he deposit bitcoins, and now bitshares netowork now, that bitBTC can be created with 100% collateral  in real BTC :).
5. when user want to withdraw his bitBTC and turn them into real BTC, he has to initiate this with bitshares wallet.
6. proper amount of bitBTC are destroyed, and then and only then bitshares network signs transaction.
7. user have to sign this withdraw with his private key.

Previously I had an idea, that private keys, could be spread among all witnesses. This actually would almost not make a difference, because even if the witnesses collude, they cannot do nothing without second private key, which user has. With this approach problem is with situation, where witness actually has a second private key, because he made a deposit. In that case, he could withdraw bitcoins, without destroying bitBTC.

So, if witnesses can together sign a transaction, without knowing a 1st private key, which were used, this would mean, that ... this could work?

This makes sense to me @noisy @bytemaster
however it would only work as collateral because you wouldnlt be able to transfer your bitbtc to someone else. because old owner would still have bitbtc key.

but this is perfect solution for collateralising btc to create bitassets.   I think....

380
General Discussion / Whatarebitshares.com
« on: February 12, 2016, 09:27:37 pm »
I made a  video to explain simply what bitshares is and have hosted it at:
whatarebitshares.com  (doesn't work if you put www. infront of the url for some reason)

https://youtu.be/psN-hhDcBrY

https://vimeo.com/155182097

381
General Discussion / Re: [poll] bug found Should the committee use the committee-trade account to trade
« on: February 12, 2016, 02:00:51 pm »
you guys are making such a small task so complicated.

just put up a sell order at +15% for all bitassets and leave it there.
It doesn't need adjusting or a bot or discussion. you are making a mountain over a mole hill. simple transparent accounting is more important than  selling at the perfect price.

382
General Discussion / Re: How to increase BTS market cap (simple crude method)
« on: February 12, 2016, 12:02:02 pm »
I amaze myself sometimes. I spent a solid 4 hours in the polo trollbox last night talking  about BTS.
when I started it was 0.000093 by the time I went to bed it was 0.00014

You may worship me now.

It's tedious but it works, just say something slightly different with a positive twist that includes  BTS every 30secs to keep it fresh in peoples minds.

383
General Discussion / Re: Pro Video and PR Campaign - Ready to rock ?
« on: February 11, 2016, 08:28:56 pm »
So whats the next step, are we gonna make video or not?

384
General Discussion / How to increase BTS market cap (simple crude method)
« on: February 11, 2016, 10:55:50 am »
Many of you will scoff at this but it does work.

Cryptotraders hangout on poloniex and they see the troll box. 
They are influenced by what is said in the troll box and they get news from the trollbox. (they will deny this)
Newly rich speculators from eth and maid will be looking for the next big trade to double their money again.

I always see people talking up eth maid factom etc but never BTS
If there were a bunch of us in there daily talking up the benefits of BTS it could generate real interest and hype.
This kind of hype can quickly see large rallies, especially in low volume coins like bts.
A 50% rally in a day is easy and sustainable after the drops BTS has suffered in the last year.
A large rally generates more intrigue and interest and can become a self-fulfilling prophecy.

I know a lot of you programming geniuses will think that the technical superiority will eventually sell bts but the truth is perception is everything in trading.
And perceptions can be changed by constantly repeating something until people believe it.

Speculators jump on trends and rumors and these are easier to generate than you might realise.
We should be in there daily talking it up. 
Maybe on liquidity day (29th Feb) we should all turn up there and generate some hype.

I am @londonwhale in poloniex trollbox and anything I say in there should be dismissed as gibberish.
PUMP PUMP To da MOOOOOOOOOON!!!!!!!!


 

385
General Discussion / Re: Raise your hand if you think that BM's Proof of Bandwidth idea is stupid
« on: February 10, 2016, 05:30:29 pm »
All the polls I see on this forum have poorly worded options. I know this one is a jokey one but all the others I see don't offer enough choice or steer the answer with their wording.

If you are gonna do a poll try and make so it can represent people opinions well.

386
General Discussion / Re: Bitshares has sponsored the Daily Decrypt for 4 weeks starting 9th Feb
« on: February 09, 2016, 06:19:11 pm »
first sponsored episode is tonight, here's what Amanda sent me.

Hi, Jonny! I'm currently writing up the messaging for the 20 days of sponsorship. To make sure I'm on the right path, I'd like to get the first three messages approved by you. Here they are:

1 – Today's episode is brought to you by Bitshares, a fast currency with just 3 second block times and a decentralized exchange built into its native wallet. There you can trade user-issued asset tokens, as well as value-pegged tokens like bitUSD and bitBTC – all without ever having to give up your private keys to a centralized exchange. You can learn more about the currency and its ecosystem at bitshares.org.

2 - Today's episode is brought to you by Bitshares, a currency which features usernames instead of long alphanumeric addresses to increase the ease of sending and receiving payments. The next release of Bitshares will offer the ability to make confidential transactions, an upgrade in privacy for all Bitshares users. You can download the smart-looking desktop wallet at bitshares.org, or simply try out the web version at openledger.info.

3 – Today's episode is brought to you by Bitshares, a proof-of-stake currency that offers a FIAT on-ramp to its ecosystem through the exchange CCEDK. The system seeks to attract developers by offering dividends on features created for the currency via Feature-Backed Asset tokens. You can learn more about Bitshares governance, features, and incentives at bitshares.org.

387
General Discussion / Re: IRC/telegram as a trollbox?
« on: February 08, 2016, 10:34:34 am »
The idea of charging for writing messages in the trollbox is ridiculous. We need to keep the blockchain capacity for transactions.
It just needs to be a simple chat box like irc

388
General Discussion / Re: Appearance of Deflation vs No Dilution
« on: February 06, 2016, 11:40:57 am »
I've always thought in my head that total supply included the reserve pool and have never understood why we use the word dilution.
It's not dilution it is using our reserve funds.
These reserve funds are controlled by the the share holders.

389
General Discussion / Re: Things I don't like about the committee
« on: February 06, 2016, 08:53:34 am »
How about posting all of the committees telegram chat logs on the forum.

390
General Discussion / Using prediction markets to hedge BITUSD against your local currency
« on: February 04, 2016, 01:45:35 pm »
In previous threads about liquidity I said maybe we should focus on BitUSD and forget about the other smartcoins for the time being.
The reasoning behind this is to focus and concentrate the liquidity and market depth in one place.

Now imagine we had prediction markets for movement of your local currency against the USD.
Everyone would be able to hold BitUSD with a CFD for their local currency meaning they can save and store value in their local currency yet everyone will be trading BitUSD.

Just an Idea.

Pages: 1 ... 19 20 21 22 23 24 25 [26] 27 28 29 30 31 32 33 ... 43

Page created in 0.025 seconds with 20 queries.