211
KeyID / Re: DNS price likely to fall in the short term?
« on: October 15, 2014, 10:17:26 pm »
Right! I still don't understand why people would sell at this point in time...
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212
General Discussion / Re: VOTE DAC Just Got More Interesting
« on: October 15, 2014, 07:16:19 pm »
AGS was a shot in the dark. No product released at that time, only concepts and ideas... And yet, so happy I took that risk!
213
General Discussion / Re: My Bitcoin withdrawal on BTER.COM gone/disappeared to "wrong" address ! (SCAM?)
« on: October 15, 2014, 06:45:02 pm »
Found this about a malware that could possibly be responsible for your loss:
"Malware stealing bitcoins[edit]Some malware can steal private keys for bitcoin wallets allowing the bitcoins themselves to be stolen. The most common type searches computers for cryptocurrency wallets to upload to a remote server where they can be cracked and their coins stolen.[235] Many of these also log keystrokes to record passwords, often avoiding the need to crack the keys.[235] A different approach detects when a bitcoin address is copied to a clipboard and quickly replaces it with a different address, tricking people into sending bitcoins to the wrong address.[235] This method is effective because bitcoin transactions are irreversible."
http://en.wikipedia.org/wiki/Bitcoin#Malware
"Malware stealing bitcoins[edit]Some malware can steal private keys for bitcoin wallets allowing the bitcoins themselves to be stolen. The most common type searches computers for cryptocurrency wallets to upload to a remote server where they can be cracked and their coins stolen.[235] Many of these also log keystrokes to record passwords, often avoiding the need to crack the keys.[235] A different approach detects when a bitcoin address is copied to a clipboard and quickly replaces it with a different address, tricking people into sending bitcoins to the wrong address.[235] This method is effective because bitcoin transactions are irreversible."
http://en.wikipedia.org/wiki/Bitcoin#Malware
214
General Discussion / Re: is bitAsset - bitJPY on the horizon?
« on: October 15, 2014, 02:10:23 pm »
Is the "soon-to-be-released-yet-not-commited-to-any-deadline" version will be the 1.0.0? The "last" hard fork before preparing the big push? If so, the team may take as much time as they require!
215
Français (French) / Re: Qu'est ce que Bitshares?
« on: October 14, 2014, 05:41:30 pm »Arg a 0.2 autant acheter du BitshareX directement non? Ou bien c'était quand même rentable?
0.07 c'est la valeur en temps normal? Mieux vaut faire son petit stock quand il y a pas de DAC a venir puis attendre le snapshot et tout dumpé
J'ai observé je vais mettre ça en pratique la prochaine fois
Sinon c'est quoi AGS?
1 AGS donne droit à la même chose que 1 PTS (normalement dans un snapshot c'est x% pour AGS, x% pour PTS). Plus tôt cette année, soit à partir de fin janvier/début février, il y a eu une période de 200 jours où l'on pouvait donner des BTC et des PTS à une adresse. Il y avait 5000AGS donné par jour pour chaque (BTC et PTS), selon un mode de distribution (total donné en 1 jour/5000). Alors si pour exemple, 1500PTS étaient donnés en 1 jour, une personne donnant un 1 PTS ce jour là obtenait 1/1500 * 5000 = 3.33AGS.
L'unique différence entre PTS et AGS, c'est que les AGS ne peuvent être revendus. Donc quelqu'un ayant fait un don en BTC ou en PTS lors de cette période de 200 jours a obtenu un certain nombre de AGS qu'il ne pourra jamais revendre, mais qui lui donne tout de même une part dans tous les snapshots futurs.
Est-ce clair?
216
Technical Support / Re: BTSX Price Per Share
« on: October 14, 2014, 05:27:50 pm »I would say within the next year we can easily hit $2bln in market cap. That's really just a drop in the bucket with all the money sloshing around in the financial system. Its a better product than bitcoin and a lot of the infrastructure is in place for crypto companies to switch over to btsx. After next year I think we get exponential growth to $20bln by end of 2016... so $1/btsx in 2015 and $10/btsx by 2016. If the tech catches on like many think it could, don't be surprised to see a $100bln valuation on btsx in the next 5 years, which still isn't even = to the market cap of visa.
The price is surpressed now because of how difficult it is to actually aquire shares... The new onramps will help immensely with that.
We're in the realm of pure speculation in this thread, so there's no "wrong answer". But I believe 20bn in 2 years is way too bullish. At 60M$ market cap, it's a 33,333% increase in 2 years. I might be proven wrong, but regulatory issues might slow down mass adoption, as institutional investors will not invest massively if it's not properly regulated, and the range of 20bn to 100bn market cap won't be achieved without those investor. I'm not for regulations, but it seems the traditional financial world needs them to believe it's "safe".
In my humble opinion, I would be satisfied if BTSX shares are worth a solid (not at the peak of a pump) 1$-2$ in 2 to 3 years. I don't even dare to speculate further than that. But if the whole world sees the potential of Bitshares as much as several of the members of this community, we're in for a very durable and profitable increase in value.
50$ each BTSX? Don't know if it will happen some day, but if it does I'll get a vault to secure my laptop.
217
KeyID / Re: Getting started with KeyID / importing wallets
« on: October 11, 2014, 06:29:46 pm »I've imported pts wallets just fine into KeyID - here's the method for anyone not sure:
(1) Within KeyID, register your account name, then click on >_Console lower down on the left hand menu
(2) In the text box at the top, below Console, type:
wallet_import_bitcoin "c:\<your_chosen_folder>\your_pts_wallet_name.dat" your_top_secret_password your_keyID_accountname
The question I had was on the use of the File > Import wallet command, which imports a .json wallet. Is this just purely a way to backup KeyID wallet somehow, or does importing say a Bitshares wallet tie a founder account to that KeyID? How can you tie founder ID to KeyID wallet or is that required?
I've tried to do that, and I got an error message. Something like "unable to decrypt key" (with a lot of things I don't understand)
your_top_secret_password - is it the account private key or the password I chose to unlock the wallet with the PTS client?
Thanks!
218
KeyID / Re: KeyID account faucet - getaddrinfo ENOTFOUND
« on: October 11, 2014, 06:13:14 pm »
Thanks Xeroc!
Account now registered using the other faucet.
Account now registered using the other faucet.
219
KeyID / KeyID account faucet - getaddrinfo ENOTFOUND
« on: October 11, 2014, 03:12:22 pm »
I took a look and didn't find anything related to that issue in the forum (sorry if it has already been addressed), but I went to freekeyid.com, identified myself using google and then entered my account key with the desired username.
I received the message: getaddrinfo ENOTFOUND
What does it mean and what should I do from there?
Thanks!
I received the message: getaddrinfo ENOTFOUND
What does it mean and what should I do from there?
Thanks!
220
General Discussion / Re: NuBits
« on: October 06, 2014, 11:10:59 pm »None of the pegged currency concepts is yet ideal. And all are in constant development. So I think its important to not get on our high horses and be overly critical of any innovation, its all moving to a better world.
The robustness problem with NuBits is well acknowledged here. But there are positives from a user perspective that should also be acknowledged - it is very simple and accessible.
BitUSD is not ideal yet either.
Though BitUSD has a flexible supply to deal with demand shocks, sellers of any size will still need to take some haircut to the peg to exit. The proposed rule that shorts must cover in 30 days will help to ensure the discount does not grow too great.
But the main issue to adoption in my view is complexity. It requires a BTSX wallet (and BTSX as collateral) to access and hold BitUSD. Its a multi-step process. And trading it requires a knowledge of some quite complicated (and constantly shifting) rules to understand the market dynamic, at least until enough history means people can just default to trusting it. For outsiders interested in holding BitUSD it requires some view on this relatively unknown thing called BTSX, which is held as additional collateral at risk, but also if it moves up too far can knock you out of your BitUSD position through a margin call. This requires another layer of monitoring and risk.
These are big hurdles for the outside layman, and does not facilitate easy trading of BitUSD outside its specialised environment, so heavily constrains liquidity. NuBits by comparison is bought and sold like any other crypto and so can be used easily by traders on the exchanges.
I'm not taking any sides here.
But I think it would be useful if BitUSD could be wrapped in some way that is simpler to handle. For example, if there were a fund/DAC/crypto/ETF that did the job of managing all this on behalf of the underlying investors.
I think you're misunderstanding a few things. You don't have to hold BTSX to hold bitUSD, and a margin call will not compromise your bitUSD. BitSapphire is also working on a simplified wallet for those who just want to transact simply, and already in the existing wallet most of the complexity can be switched off and ignored if all you want to do is use bitUSD. You can buy bitUSD directly without holding BTSX first.
The point is, it's easy to get confused. I read through the forum a lot, and I'm still confused sometimes on how the market mechanics work, and even starspirit with 71 posts (which suggests he did quite a bit of reading in here) still has some misunderstanding of what is really required to hold bitUSD.
So I can imagine how confusing it must be for someone who never heard of crypto just trying to get a grasp of the concept.
Edit 1: Or anybody holding Bitcoin who wants to understand pegged assets, it's not like learning to play tic tac toe
221
General Discussion / Re: from client to competitor
« on: October 06, 2014, 10:54:43 pm »
I don't see competition as something negative. In fact, if Byrne's project works, Bitshares X can still be successful, and the challenge of getting crypto assets/securities to the masses will be shared. What his project does to educate people and overcome regulatory inertia can still be piggybacked by Bitshares. The other way around is also true.
Bitshares X is a bank and bitAssets exchange. Byrne wants to create a stock market where businesses can issue securities. It's very similar, but both platforms fill in a different need. Pretty much the same as different stock exchanges specializing in different equities/securities/assets (Nasdaq for tech companies, Wall Street for "regular" corporations, TSX for ressources, etc.)
I might be naive to believe both can coexist and thrive, but I believe Bitshares X can play the same field as Byrne's project and still be very profitable. We're talking of a couple of trillion dollars market, so splitting 2 trillions in 2 still leaves 1 trillion for both, no?
And competition has always pushed businesses to be more efficient and deliver a better product. That ain't so bad in my opinion.
Bitshares X is a bank and bitAssets exchange. Byrne wants to create a stock market where businesses can issue securities. It's very similar, but both platforms fill in a different need. Pretty much the same as different stock exchanges specializing in different equities/securities/assets (Nasdaq for tech companies, Wall Street for "regular" corporations, TSX for ressources, etc.)
I might be naive to believe both can coexist and thrive, but I believe Bitshares X can play the same field as Byrne's project and still be very profitable. We're talking of a couple of trillion dollars market, so splitting 2 trillions in 2 still leaves 1 trillion for both, no?
And competition has always pushed businesses to be more efficient and deliver a better product. That ain't so bad in my opinion.
222
General Discussion / Re: NuBits
« on: October 06, 2014, 07:43:33 pm »If I just look at numbers, it seems NuBits is in front of bitUSD in the adoption race (for now) for hedging against crypto volatility. 5246BTC of volume in one day, it's quite impressive. I understand the temporary need to hedge against Bitcoin drop, but it's surprising how much people can buy into something that is economically flawed. Is it misinformation, or people are convincing themselves they won't be the bag holders at some point?
Because let's face it, if Bitcoin rally and for any reason go back up to 600-700$, those Nubits holders who see that will jump ship and go back on the BTC train... And if new buyers aren't there to buy it up, it could mean trouble.
Is my understanding flawed?
Yes Nubits is bad.
But this was an excellent weekend to kickstart and bootstrap BitAssets within the Alt-Coin market for very little outlay as many who stay exclusively in BitCoin nearly all the time would have been looking at other options.
BTSX at no.4 doesn't advertise BitAssets, even when you go to the website.
Our BitAssets are listed on a separate page, they also have a low CAP.
Then of course we've got the hurdle of getting your account on a wallet.
Alot of the trading seems to be happening on the exchange. So I guess seems need a market maker with a high volume of BitUSD available for trade on Bter. On Bter may also be best if BitUSD was on main page like Nubits.
A simple BitUSD website with a walkthrough like Nubits perhaps.
Adverts on CMC/Coindesk if we can't get BitAssets listed on main page.
Just some ideas.
Yes, I like your perspective.
Finding solution for our own sake rather than complaining on something not working like I'm doing
223
General Discussion / Re: NuBits
« on: October 06, 2014, 07:42:09 pm »If I just look at numbers, it seems NuBits is in front of bitUSD in the adoption race (for now) for hedging against crypto volatility. 5246BTC of volume in one day, it's quite impressive. I understand the temporary need to hedge against Bitcoin drop, but it's surprising how much people can buy into something that is economically flawed. Is it misinformation, or people are convincing themselves they won't be the bag holders at some point?
Because let's face it, if Bitcoin rally and for any reason go back up to 600-700$, those Nubits holders who see that will jump ship and go back on the BTC train... And if new buyers aren't there to buy it up, it could mean trouble.
Is my understanding flawed?
You're correct.
The buyer of Nubits can just hope that the ones holding the money won't get away after earning millions of dollars from thin air.Or they have to pray for another people to pick up mess.
It's depressing to see a flawed model still get that level of traction in the crypto community. I can't wait to see the marketing plan Brian and the rest of the team will come up with, and I just hope NuBits fall wont have a negative impact on ALL market pegged assets.
But let's say the founders are honest and stay true to their word, they still won't be able to keep up with dividend pay in hard times when the project loses traction and there's more sellers than buyers (and holders are still numerous). So no matter how good their intentions are, at some point the dividend fund will dry out, and there will be no money left to buy back those who wants to get out.
I'd be curious to know the perspective of someone very familiar with the NuBits system on that very matter. Telling me "well, we're going to issue more NuBits, try to sell them and hope for the best" won't cut it. I might have missed it in this thread, but does anyone know how they answered the question: "How does your system plan on being sustainable in the long run?" (I'll be ready to discuss any good answer where selling more NuBits isn't the solution)
224
General Discussion / Re: NuBits
« on: October 06, 2014, 05:38:42 pm »
If I just look at numbers, it seems NuBits is in front of bitUSD in the adoption race (for now) for hedging against crypto volatility. 5246BTC of volume in one day, it's quite impressive. I understand the temporary need to hedge against Bitcoin drop, but it's surprising how much people can buy into something that is economically flawed. Is it misinformation, or people are convincing themselves they won't be the bag holders at some point?
Because let's face it, if Bitcoin rally and for any reason go back up to 600-700$, those Nubits holders who see that will jump ship and go back on the BTC train... And if new buyers aren't there to buy it up, it could mean trouble.
Is my understanding flawed?
Because let's face it, if Bitcoin rally and for any reason go back up to 600-700$, those Nubits holders who see that will jump ship and go back on the BTC train... And if new buyers aren't there to buy it up, it could mean trouble.
Is my understanding flawed?
225
General Discussion / Re: Bitshares Music Presale begins in 2 hours
« on: October 06, 2014, 01:02:23 pm »Would it not be sensible to wait until the very end of the day to jump in too?..
Personnally, that's what I'm going to do. I just stated I thought the donation level wasn't so bad for a first day, but I'll wait a little and see how much is "a big day". I'll definitely try to scoop cheap Notes as much as possible and not throw all my money right from the beginning and hope for the best...
