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Messages - dannotestein

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241
Muse/SoundDAC / Re: Cannot trade my MUSE
« on: March 11, 2016, 11:32:54 pm »
I see on the bitshares openledger platform there are two markets for trading MUSE: OPENMUSE and OPEN.MUSE
Why are there two?
What is the difference between the two?

The volume on OPENMUSE has died and the volume on OPEN.MUSE has picked up, any reason for this?

And how does one go about trading OPENMUSE or OPEN.MUSE for actual muse notes?
Thanks  :)
Read here for full details: https://bitsharestalk.org/index.php/topic,21308.0.html

242
Technical Support / Re: cli_wallet keeps crashing
« on: March 11, 2016, 09:25:54 pm »
Also the websocketpp deflate code is very new, so it might be a novel bug in websocketpp.  A quick run-through of the websocketpp issue tracker shows some known race condition crash bugs in websocketpp [1] [2] [3] and it is not out of the realm of possibility that one of these leads to a use-after-free.  Some of these bugs are TLS only, so it is possible that disabling TLS fixes the issue.

[1] https://github.com/zaphoyd/websocketpp/issues/459
[2] https://github.com/zaphoyd/websocketpp/issues/451
[3] https://github.com/zaphoyd/websocketpp/issues/336

I am using --rpc-endpoint and not --rpc-tls-endpoint, does this still apply?

If it's helpful I can try to recreate this setup on a separate server today or tomorrow.

We've pushed a changed to bitshares branch of bitshares2 that allows you to disable the compression via command line, if you want to test if it is related to the problem. The option to disable compression is:
option is:  --disable-permessage-deflate
Can this be disabled by default?
naturally, but it would only make sense to do that if we discover there is a potential problem.

243
Technical Support / Re: cli_wallet keeps crashing
« on: March 11, 2016, 08:09:01 pm »
Also the websocketpp deflate code is very new, so it might be a novel bug in websocketpp.  A quick run-through of the websocketpp issue tracker shows some known race condition crash bugs in websocketpp [1] [2] [3] and it is not out of the realm of possibility that one of these leads to a use-after-free.  Some of these bugs are TLS only, so it is possible that disabling TLS fixes the issue.

[1] https://github.com/zaphoyd/websocketpp/issues/459
[2] https://github.com/zaphoyd/websocketpp/issues/451
[3] https://github.com/zaphoyd/websocketpp/issues/336

I am using --rpc-endpoint and not --rpc-tls-endpoint, does this still apply?

If it's helpful I can try to recreate this setup on a separate server today or tomorrow.

We've pushed a changed to bitshares branch of bitshares2 that allows you to disable the compression via command line, if you want to test if it is related to the problem. The option to disable compression is:
option is:  --disable-permessage-deflate

244
Ok, I've replied to subreddit:
Quote
On the BlockTrades website (blocktrades.us), you can send to an ether address without needing to send a memo (this allows you to send from exchanges). But in the current version of the BitShares webwallet, you also need to include a memo that tells what BitShares account to credit the OPEN.ETH to.

The next version of the webwallet will function the same as the BlockTrades website (you will be able to send to a unique address without a memo).

Please contact BlockTrades via the contact info at their website with more info about your transaction.
An update on this: it looks like the webwallet detected that we have support for ETH now and started showing it on the BlockTrades bridge, but the webwallet doesn't know it needs to use the new API until it's updated. We're going to temporarily disable purchasing BTS with ETH on BlockTrades until the release of the new webwallet tomorrow.

For anyone who did send ETH to purchase BTS using the blocktrades bridge in the webwallet, please contact dan_at_blocktrades.us with information about your ETH trx to receive a refund.

245
Ok, I've replied to subreddit:
Quote
On the BlockTrades website (blocktrades.us), you can send to an ether address without needing to send a memo (this allows you to send from exchanges). But in the current version of the BitShares webwallet, you also need to include a memo that tells what BitShares account to credit the OPEN.ETH to.

The next version of the webwallet will function the same as the BlockTrades website (you will be able to send to a unique address without a memo).

Please contact BlockTrades via the contact info at their website with more info about your transaction.

246
General Discussion / Re: 234 BTS for issue/burn asset?!?!
« on: March 07, 2016, 02:58:11 pm »
Good point.
Afaik OpenLedger is operating in a pre-issue schema, BlockTrades operates TRADE.BTC in a pre-issue schema as well but on-demand-issue schema for DOGE/DASH.

Not unless they were only expecting to issue 25 BTC worth!

https://bitshares.openledger.info/#/asset/TRADE.BTC

Or 230 worth:

https://bitshares.openledger.info/#/asset/OPEN.BTC
OpenLedger works on a purely pre-issued basis.
BlockTrades can auto-issue, but it only auto-issues when it "needs" to (it doesn't auto-issue if it has a sufficient balance on hand).

247
General Discussion / Re: Sidechain bitAssets
« on: March 06, 2016, 08:00:38 pm »
Didn't you hear the mumble?

Dannostein already has code for another project he could monnetize here, and we could have a multisig sidechain in 3 months effectively allowing bitcoins to trade on our 3 second smartchain, sucking all the bitcoins off the bitcoin blockchain and onto ours and creating perfect pegs in the process.

Total estimated cost:

$200k, a mere $5,000 Ethereum IPO investment (sold today)

We would effectively become bitcoin's "lightning network"

dannotestein previously stated that he is doing an ipo of BlockTrades
https://bitsharestalk.org/index.php/topic,21509.0.html

In that case, if he considers the sidechain project to be feasible and profitable, he will be able to finance it. I guess we could fund raise to loan him the money to get started until his ipo goes through.

@dannotestein could you share your input on this?
I think the the sidechain/mutlis-sig custodians idea is a good one and something that should be done as the amount of outstanding IOUs gets substantial, but it's hard to say if now is the time to do it or not. It doesn't really allow users to do anything they can't already do or make any operation more convenient, it just allows them to trust the network more. So it only make sense now from a public relations perspective (i.e. first sidechain for bitcoin, more trustworthy, etc), and it then becomes a question if that benefit is worth the development cost.

Also, there will be more burden on SIDE.BTC custodians to manage a more complicated piece of software as compared to witnesses. Fortunately, the BTC wallet tends to be pretty stable, but if we did this for Ether as well, they can expect a lot more headaches since we've seen the Ether wallet crash numerous times (it feels a lot like an early BitShares 1.0 wallet).

Since I don't want BlockTrades to take all the risk for this venture, I would prefer if someone like CCEDK pre-sold an FBA, paid us a part in the FBA (to cover our existing costs and lost opportunities associated with open-sourcing that code) and part in proceeds from the FBA to cover our new development expenses. Ideally, BlockTrades could sell the FBA directly, but that would require us to get a special license from Cayman's to sell securities and I haven't investigated how much that would cost yet.

248
OpenLedger / Re: deposits in openledger
« on: March 05, 2016, 07:16:39 pm »
Ronny, has openledger provided proof of solvency for any open.assets? I'd like to use them. I know they require trust but less trust would be nice.
Hi,

BlockTrades handles the cryptocurrency OPEN. assets other than the fiat ones. In general, you can tell how much OPEN asset is outstanding by visiting:
https://bitshares.openledger.info/#/account/openledger-wallet/overview

To check the balance for OPENMUSE and OPEN.MUSE against MUSE held:
95000000 (OPENMUSE issued)
-68067821 (OPENMUSE in openledger-wallet)
+95000000 (OPEN.MUSE issued)
-35940102 (OPEN.MUSE in openledger-wallet)
-30841901 (OPEN.MUSE tied up in market orders by openledger-wallet,  to allow conversion of OPENMUSE)
-213551   OPENMUSE fee pool held by openledger-wallet
-118006   OPEN.MUSE fee pool held by openledger-wallet
---------
54818619 OPENMUSE and OPEN.MUSE outstanding (not held by openledger-wallet)


This matches against the MUSE held (we have more MUSE than we have OPEN versions):
http://muse.cryptofresh.com/u/openledger-wallet
55100000  (MUSE in openledger-wallet on muse blockchain)

We could prove the reserves for other coin types as well, but it's more work for us, since we would need to prove we own the balance for that coin on it's blockchain. But as you can see from the openledger-wallet page, the amount of outstanding BTC, which is probably one of the largest by value, isn't that high:
70 OPENBTC issued
- 59.55 OPENBTC held by openledger-wallet
+130 OPEN.BTC issued
- 45.78 OPEN.BTC held by openledger-wallet
-23.96 for open market orders
= 70.71 BTC IOUs outstanding

249
Technical Support / Re: Has Graphene development fizzled out ?
« on: March 05, 2016, 02:37:29 am »
Looks that way when looking at commit charts on github

https://github.com/bitshares/bitshares-2/graphs/contributors
As phoenike pointed out, you're looking at wrong github repo to see the work being done. Graphene is where most of the coding is done, bitshares-2 is just for bitshares-specific code added to the library.

250
I think I should ask for 2 weeks' payment due to the rate limited free transaction feature https://github.com/cryptonomex/graphene/issues/603
I'll review the work today and get back to you.

251
Private keys for BTC can't be held in the blockchain. They need to be "owned" by someone, hence the need for custodians for these keys.

252
OpenLedger / Re: deposits in openledger
« on: March 02, 2016, 11:42:07 pm »
It really depends on what you want to do/buy. There are multiple options:

1) You can use BTC to buy some other cryptocurrency such as BTS via the BlockTrades bridge.

2) You can deposit BTC to a gateway and get an IOU token which can then be traded on OpenLedger. The 3 available IOU tokens for BTC are TRADE.BTC (from BlockTrades), OPEN.BTC (from OpenLedger/CCEDK), or METAEX.BTC (from MetaExchange). Depending on which one you get, you can then trade that IOU BTC on an appropriate market. In other words, there's an TRADE.BTC/BTS market and there's a separate OPEN.BTC/BTS market. In this case, there's effectively 3 different exchanges with 3 different BTC/BTS markets. You can choose which exchange to use based on liquidity of the the markets you're interested in and your trust of that exchange.

OBITS is a token you can buy that appreciates in value based on the fees collected by OpenLedger. It exists on the BitShares blockchain and is transferable/tradeable there. There's several such tokens offered by various businesses that operate on BitShares.

253
@abit
* The witness who hold the second key could be the same person who deposited the BTC which is supposed to be locked, but actually the person have both keys, she can just unlock the fund without destroy the issued bitBTC.

2 the software will only allow a witness to sign the bitcoin transaction once the corresponding SIDEBTC has been destroyed. Remember SIDEBTC is not transferable only BITBTC is.
Re 2): How does the software prevent someone with both bitcoin private keys from signing a "bitcoin" transaction? They would sign it on the bitcoin network, which doesn't care about the rules of the sidechain.

Who would have both keys? As a depositor you guard your 1 of 2 key as well as you would a single key.
abit's original point was simple, so I've just requoted his point, your reply,  and my reply. To answer your question: the
witness would have both keys: his "witness" key and his "sender" key. With these two keys, you can sell your BitBTC, then release your BTC.

So basically you're saying that witnesses would be able to double spend their own BTC by redeeming SIDEBTC and dumping BITBTC at the same time?
I'm saying they can sell their BitBTC and also reclaim their BTC since reclaiming only requires the two Bitcoin keys (no redeeming of SIDEBTC required). I don't really view this as a double spend, but it certainly doubles your money.

254
@abit
* The witness who hold the second key could be the same person who deposited the BTC which is supposed to be locked, but actually the person have both keys, she can just unlock the fund without destroy the issued bitBTC.

2 the software will only allow a witness to sign the bitcoin transaction once the corresponding SIDEBTC has been destroyed. Remember SIDEBTC is not transferable only BITBTC is.
Re 2): How does the software prevent someone with both bitcoin private keys from signing a "bitcoin" transaction? They would sign it on the bitcoin network, which doesn't care about the rules of the sidechain.

Who would have both keys? As a depositor you guard your 1 of 2 key as well as you would a single key.
abit's original point was simple, so I've just requoted his point, your reply,  and my reply. To answer your question: the
witness would have both keys: his "witness" key and his "sender" key. With these two keys, you can sell your BitBTC, then release your BTC.

255
@abit
* The witness who hold the second key could be killed, so the key lost, and the locked BTC become non-redeemable, hence no value.
* The witness who hold the second key could be the same person who deposited the BTC which is supposed to be locked, but actually the person have both keys, she can just unlock the fund without destroy the issued bitBTC.

1 all witnesses would hold the second key
2 the software will only allow a witness to sign the bitcoin transaction once the corresponding SIDEBTC has been destroyed. Remember SIDEBTC is not transferable only BITBTC is.
Re 2): How does the software prevent someone with both bitcoin private keys from signing a "bitcoin" transaction? They would sign it on the bitcoin network, which doesn't care about the rules of the sidechain.

In general, I think this scheme is overly complicated and prone to some basic pitfalls. First and foremost, with potentially locked up BTC forever, all the BitBTC isn't redeemable for BTC, so it shouldn't trade as 1-1 for BTC.

I think BM's solution is much simpler, easier to understand, and therefore easier to trust. It's pretty safe except in the case of large scale collusion by the custodians of the SBA keys. To reduce this chance for collusion, the custodians could be compensated by some stream of income that goes away if they do collude.

Obviously there's political decisions involved in determining how to balance the amount of income to the custodians, the number of custodians, etc as the balance held increases. The biggest problem is this regard is probably the limited size of Bitcoin's multisig.

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