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Topics - hughmanwho

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General Discussion / What gives BitShares value?

« on: October 08, 2015, 02:35:01 pm »

I started thinking about it, Bitshares isn't a stock or ownership over the company that is writing this software, right?

And it doesn't have any revenue stream associated with it. Right? The delegates are the ones who get paid, right?

I'm not saying it doesn't, I'm just trying to figure it out, what gives BitShares value?

Technical Support / Does Bitshares TITAN system provide true anonymity?

« on: October 04, 2015, 08:20:17 am »

I've spent a lot of time trying to understand the TITAN system from a technical point of view and something isn't clicking for me.

As I understand it, it boils down to the sender creates a new wallet address that can be unlinked from his regular wallet address, he then sends money from regular wallet to new wallet address, which is then sent to the other users new wallet address that receives the funds, which can then be added to the receivers' regular wallet address, correct?

Does that whole chain of sending money to that unlinked account still exist but only just add a few links in the mean time that make it a little harder to trace. But ultimately you can just follow 3 transactions, instead of 1 transaction, right?

Or is the idea that the money never actually gets sent back to the reciever's account and instead he can spend it out of this other account sort of similar to UTXO?

Doesn't the money still have to flow out of the sender's 'main' account? Or is the idea also that similar to UTXO it flows out of other unspent transactions and therefore the link to the 'main' account never happens? The user's wallet would then just have to remember all these UTXOs.

Maybe the only thing that happens between sender and receiver is an agreement over what those other addresses are?

Anyway, something isn't clicking and I'm wondering if this provides true anonymity or just a little extra confusion for the attacker, can someone explain this?

Thank you!

General Discussion / How does Bitshares intend to trim it's blockchain?

« on: March 15, 2015, 07:59:53 am »

Trimming the blockchain of a Proof of Stake coin is very complicated.

I've heard the argument that because Bitshares only has 100 delegates, that you can always just trust that those 100 delegates and basically trust that what they are feeding you is valid because you only have 100 computers which need to agree.

Except.. that you don't trustlessly know who those 100 delegates are unless you have a copy of the blockchain on hand, right?

Anyway price is finally low enough that it might be worth investing... but blockchain trimming is a big deal to me.. is there a serious plan in place?

General Discussion / When did work on DPOS start?

« on: October 17, 2014, 08:21:11 pm »

I'm just curious what's the story behind it's invention and how long has it been working?

Also, how does it work from a technical point of view?

Thanks!

General Discussion / BitUSD vs CoinoUSD

« on: September 05, 2014, 03:04:53 pm »

I'm assuming you guys know with BitUSD, basically people short BTSX to create BitUSD out of thin air, and other can buy or sell them. Problem is it's fluctuated from anywhere between $0.71 and $0.999 (or $2 upon opening). It has some potential as a prediction market.. but those are swings of 30%, it's certainly not stable enough for a merchant to decide to store his money in that form. And personally, I'd be afraid of a bank run.

CoinoUSD is an assset, run on the Nxt asset exchange that is backed by actual dollars. At any point in time, you can take a CoinoUSD asset and send it to your CoinoUSD account, which will allow you to cash out and end up with an actual dollar bill sitting in your bank account. Because they hold on to USD to back CoinoUSD, no worry of a bank run. Problem of course is that it's centralized.
More details: https://coinomat.com/coinousd.php

So, question is what do you guys think about BitUSD vs CoinoUSD?

General Discussion / BitShares blockchain explorer?

« on: August 22, 2014, 11:55:40 pm »

Where can I find a blockchain explorer that contains a list of all accounts and balances?

Doesn't seem to be available..?

General Discussion / How is BitUSD going to work?

« on: August 22, 2014, 07:11:14 am »

So.. I'm very skeptical about BitUSD, BitGLD, etc.

How is the initial distribution of BitUSD going to occur? Also, is there a fixed supply? If so then is supply and demand forced to match price?

Too much demand and price goes higher than USD/BTS price, and people start dumping?