Of course Bytemaster...Xeroc do you? MethodX? I see a lot of talk around here, but would like to know who is doing actual work.

Thanks

Im a coder with a day job who's trying to figure out how to best get involved. Until then Ill keep talking too :p

Quote from: trader on October 07, 2014, 05:54:51 pm

Quote from: toast on October 07, 2014, 12:14:12 am

You can create new market-pegged assets. The genesis block just reserved some.

Thanks for clarifying, but when you say "you", who/how exactly is that done ?

Either its done by a centralized party (like the genesis.json file), or its done by voting, or its done by paying a fee like the user issued assets. But that option doesnt seem quite right for market-pegged assets.

you could do it with the wallet. you have to pay ruffly 200k BTSX to create a new asset.

Oh I see so there already is a command to do it? That high fee sounds just about right to filter out spam.

Market pegged assets were specified in genesis.json, which kind of implies that the set of market pegged assets are fixed and cannot be changed.

If that isnt the case, would extra market pegged assets be another hard-fork of the blockchain? Or would there be a new command for issuing pegged assets like there is for user issued assets?

This is has implications for whether BitGOOG and stocks go on a separate blockchain or not. The wiki page talks about "varieties" of BitShares X - is that still the plan?
http://wiki.bitshares.org/index.php/BitShares_X

I personally think loading as many market pegged assets onto the X chain as it can handle would be better for the network effect.

They will not support they competitor. They will just use the Blockhain Music mechanism, that is already in place and have all the advantages. You can look at the different websites like different music labels. They will fight to make artist use there website to issue artiscoin.  Say PeerTracks China opens up, and they will mainly attract chinese artist to issues artistcoins and people buy music on their website. PeerTrack Us will attract people from US etc. The artist will chose where to issue he's artistcoin and most importantly to upload his music.
Sure Apple could do all that in centralize server, but the way it works now I wonder how much of that 1 dollar goes directly to the artist and how much goes to Apple ? Bitshare gives directly to the artist no middleman no big labels taking big cut etc.

Yes the artist reward model is innovative, but the blockchain itself does not provide any advantage to a new music distribution service wanting to use the same model, because by adopting the existing blockchain the new service reduces their opportunities for user lock-in. Businesses want to create barriers to entry for their competitors, not strengthen the competitor's positions. And yes for iTunes or whoever to adopt the NOTES blockchain would strengthen PeerTracks positition because they own a large amount of NOTES shares, and the new guy owns zero.

Edit: I do however agree that the blockchain would be beneficial for the artist because money to buy artistcoins can come in from (possibly) multiple music distribution sites, as well as the world of BitUSD crypto. Thats definitely a positive. But we have already agreed that most of the money is going to be coming in from fiat anyway.

So let say PeerTracks is closed down. The Notes will tank buy-backs will stop. But I could open a PeerTracks 2.0 and in the Bitshare Music blockchain I have all the information need it to continue normal operation, because I have all the information on artistcoin holder, Notes Holder and bitUSD holders. In fact if PeerTracks goes down people will still have ther bitUSD and they could still trade artistcoin, the only think that will stop will be the buy back mechanism witch will resume as soon as PeerTrack 2.0 is up and running.

Thats all true, but if you have to rely on a resurrected PeerTracks after a government takedown, then it seems like the DAC has a flawed business model and that PeerTracks would have been better off avoiding regulatory hurdles by not using a blockchain.

Edit: No-one could open a PeerTracks 2.0 as they would have to recreate relationships with all the artists, open a new bank account to accept user deposits, not to mention return all their old deposits and regain their users' trust.

Btw its best not to mention inactivity fees in your next video It makes everyone worried and I think Bytemaster cancelled the idea anyway.

Q) So I see a talented artist's coins are really cheap so I spend some BitUSD to get them. I then want to spread the word to my friends on facebook, but they aren't into crypto so dont have any BitUSD. What do I do about this? Will PeerTracks accept credit cards as a substitute to buy BitUSD first?

Q) Im trying to fully understand the buy-back process. An artist initially offers 10000 coins at 1 dollar each for example, and half of then are bought up. The artist gets the usual 80% of each sale, but where does the 20% go to, as there are not yet any other coins for sale in the hands of users?
  -Do the 20% of the initial sales sit waiting to buy-back coins as soon as some of the initial buyers start selling?
  -What if the initial buyers sell their coins back undercutting the initial artist sell price of 1 dollar?

Q) How soon can we expect to see artists sign up to PeerTracks ? Any confirmed ones yet?

Thanks for any explanation on this.