why not support bitusd

We cash out all BTC every day into fiat. All of the donations go into operational expenses. This creates some downward pressure on BTC.

If we accepted BTS or bitAssets we would be required to convert them on the spot to BTC and then to fiat, in which case we would loose a lot of funds just through the spread and exchange fees. This would then create a lot of downward pressure on BTS.

By using BTC we lower the overall pressure on BTS, create potential new long positions on BTS, and reduce the overall crowdfunding amount in terms of BTS we need to raise to make it to 130,000 USD, and increase the overall likelihood of achieving the 15% repayment. It's a win-win all around.

I'm kind of confused as to the whole "buyback" model that's going on. Is it basically BitSapphire delegates that will need to get hired by the blockchain in order to pay back moonstone donations? What if BitSapphire can't get enough delegates elected? What are the reasonable odds of losing money in the whole deal as opposed to receiving a 15% ROI? Is there a risk of losing all investment if things don't work out as planned?

Basically, how much riskier is it to buy and hold moonstone IOUs as opposed to just hodling BTS?

Good question. The crowdfunder is similar to a kickstarter where we wnat to release a public good (The whole wallet code under the open source MIT license). However, normally kickstarter-style donation drives mean that a minority of passionate people pay for the public. This means that there is an incentive for the public to free-ride.

With BitShares it is for the first time possible to build a public good and get payed by the public for doing so (i.e. the delegate pay system). The problem we see currently is that the public is essentially taking on the risk of hiring a delegate without him/her producing anything of significance yet. We are very much against the public paying for risk taking, that should be left to individual donors/investors. By combining a market for projects and their public return via the delegate system, and the delegate pay itself, it becomes possible to de-risk the public completely!

This means that the donors can get payed by the public via the delegate system for choosing the right projects, while the public never takes "the wrong bet".

The secondary effect of this system is that the kickcstarter model still works, but as a donor you reduce your overall risk exposure as you can make potentially a return.

Considering that the project is close to completion (we're currently working on the market interface which will be presented soon, and a custom blockchain deserializer) the risk should be considerably lower than lets say a traditional kickcstarter model where projects ask for money to start working on it. We've already done the heavy lifting!

My first close look at this.. good first impression.

Pitched at what looks to be ~1% of BitShares current marketcap, it looks very reasonable for what it's promising.


Could someone put this in plain English?.. sorry if I'm being daft but it is not clear to me if there is a real return expected or if this is a gifted donation:

Quote

Moonstone will have 5 opt-out delegates which can be deselected upon installation, or whenever you choose to. All proceedings from the delegates will be converted to bitUSD, 100% of which will be used to to set 1:1 buy orders for the Bitsapphire UIAs you received upon donation. Upon donation you will receive 1.15 Bitsapphire UIAs, meaning, for every dollar you put in an additional 15% will get back to you in the form of a buyback over the next 5-30 months. As far as we know this is the first crowdfunder with the possibility of a higher return.

Also.. is it just me that has a problem with so many websites not using lite grey on light background?.. perhaps tweak the CSS to a darker font for readability.

Looks like the content still hasntt updated on all CDNs. Nonetheless the content is almost right.

It means that for every BTC you donate you get the equivalent of 1.15 BTS in the form of MOONFUND tokens. You'll be able to realize your gain over time as we actively buy up MOONFUND. This emans you can get a return of 15% in terms of BTS once the project picks up steam over time. This repayment rate is  made possible through the BitShares delegate system.

Answer https://bitsharestalk.org/index.php/topic,15601.0.html

Hi guys,

https://moonstone.io/ fundraiser app is live now.

In this thread any and all questions and problems will be answered by us.

The buy-back will take place what period basis, weekly or daily? (or monthly, yearly???)

The bids for the buyback will be set automatically daily on the BitShares exchange. BitShares treates all bids and asks FIFO.

I'm still curious about the relationship of the Moonstone wallet to Bitshares Music and Peertracks. Apparently it will also be used for that blockchain, so are you essentially asking BTS holders to fund the development of the Music wallet? How come Peertracks/cob aren't funding it?

Also, is this the same wallet you showed us last year, not sure when, in September maybe?

What is the current status of the development, do you have a working implementation or are we only seeing mockups?

Very good question.
Peertracks is committed to using Moonstone's codebase. Peertracks will contribute to this fundraiser as to offset some of the crowdfunder cost. The specific interface integration needed for Peertracks will be developed later for Peertracks and is not part of this fundraiser. Our plan for Moonstone is for it to connect to multiple blockchains from the same interface and be able to trade between all blockchains' tokens. This will include potentially all DPOS forks and Bitcoin, potentially Ethereum too (in the long run).

The wallet design we showed in September was the first design iteration we had finished. I think this would be a good time to mention what the development/iteration process has been like so far:

• Initial design concepts based on Google's newly released Material Design guidelines. Frontend work on the Angular app with Famo.us. Famo.us made it possible to have a buttery smooth UI for browsers as well as on the phone. The premise is "build it once, it works on all devices like a native app". It worked really nicely but Famo.us was at version 0.2 back then and once they upgraded up to 0.4 we had to abandon our plans as it broke too many things. In this iteration we still used the current wallet RPC interface.
• This is when we started our second iteration of the design with complete overhaul. We put on a second designer and things went a lot faster. We switched from Famo.us to native Angular Material Design frameworks which also helped us a lot. The drawback is of course that for the mobile wallet we'll need to redo it again. We still used the current wallet RPC interface, though now server side as we changed plans for Moonstone to become a light wallet. This is also when we started doing extensive user testing with the half baked interface. We discovered that there would be a 80% drop in likelihood for anybody to use our wallet for every 2 minutes of waiting/loading time (this would include blockchain syncing if this was a full client).
• After wrangling with for over a month with the BithShares RPC interface and trying to get it to be a scalable backend for the light wallet, we decided that the whole current wallet architecture (including the deserializer) was simply not intended for large scale deployment. It was rather build with the ideological backdrop of everybody downloading the whole blockchain. This was when we made the announcements on the forum ans started working on our own RPC interface and deserializer. Right after making the forum announcements we got the client-side universal transaction builder working, though there are still bugs that need to be worked out. We are currently working on the RPC interface/deserializer and the market interface. These two parts are also our two main milestones for the 0.9 release. Once fully tested we will release 1.0 for general use.

What you saw in the demo video all works and is real, however the universal transaction builder needs work and testing as well as the RPC interface/deserializer. The current demo still runs on the current wallet RPC.

It is important to note that we think Moonstone can spur the Startup/project econsystem around BitShares by providing a similar architecture to Bitpay's Bitcore Wallet Suite. That is our intention for our RPC interface. If it works out anything like Bitcore, you'll see many startups use it as the go-to BitShares/DPOS wrapper. Most Bitcoin startups we have worked with have used at least parts of Bitcore, which I think says a lot.

Hi guys,

This is the fundraiser interface. Pretty simple and straight forward. You'll be able to generate a private/public key pair for your Moonstone tokens even if you currently have no BitShares wallet. You'll be able to import the keypair into your Moonstone wallet similar to how you can import your Bitcoin keypair to your current wallet.





If you have any questions let us know!