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General Discussion / Re: [ANN] Bitshares gateway GDEX is launching
« on: November 27, 2017, 01:16:17 pm »
How does deposit work? Do you issue your IOU or do you use bitBTC?
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If you don't believe in BitShares' future, just dump (if you still have some) and leave, no need to waste time here.
Multi-signature IOU gateways for DEXs are so 2016... these already exist on Waves, Komodo, Supernet, etc., and have existed for some time now. It is nothing new and will be outdated implementations soon. They are technically still IOUs like OPEN.BTC and counterparty risk still exists if the majority of signers are compromised or collude. By the time you develop such a product, better solutions will have arisen.
Look closer at Atomic Swaps (no IOUs, derivatives, or counterparty risk). They are coming to fruition soon in 2018. There have been several successful atomic swaps done in both development and live blockchain environments by many blockchain projects. The only thing that is missing is a good GUI, which is relatively easy to code...
https://twitter.com/SatoshiLite/status/911328252928643072
https://blog.decred.org/2017/09/20/On-Chain-Atomic-Swaps/
All Lightning Network implementations are working on Atomic Swaps (at least 3): https://lightning.engineering/ & https://blockstream.com/ & https://acinq.co/
DEXs in development that will leverage Atomic Swaps:
https://www.altcoin.io/
http://barterdex.supernet.org/
https://blocknet.co/
Anyone that is informed in the crypto space knows this is the direction DEXs are heading. Not only DEXs, but interoperability will go mainstream in 2018/2019 rending crypto IOUs (OPEN.BTC) and derivatives (bitBTC) useless and not worth the risk (unless perhaps interest from trading fees is brought back to the Smart Coins... but that probably won't save them anyways... and I digress). Get ya'lls head out of the sand before you get buried!
I don't know what magicwallet charges, but my guess is that it's at least 2%
Hi everyone - thanks for the responses. While it's great that one can trade bitUSD/OPEN.USD, the broader issue is that there's no clean way to trade the peg. Looking at OPEN.USD volumes, they are quite limited. If one could trade bitUSD/USD directly, I'm sure the peg would much closer to 1:1 similar to Tether. If you guys have any other ideas, please let me know. Thanks again.
Is there no way to trade bitUSD/open.USD? The same question applies for bitEUR and bitCNY. I think there's an obvious opportunity to allow speculators to help maintain the peg. Cheers.
One issue is that bitUSD is perceived as a better asset compared to OPEN.USD so people might completely ignore this market.
making decentralized gateway (according to vote results) seems inexpedient
Do bitshare holders benefit from hero?
The Billion Hero campaign is designed to promote the Hero token by raising awareness for bitshares.
Some time this summer Stan has locked 3,000,000 bts in a dedicated wallet, it was worth $1,000,000 back then. The campaign ends when this locked amount of bts worth $1 billion (thousandfold increase in price). So yeah, it benefits the bts holders a great deal.
I talked about it in the "marketing efforts" thread, but it wasn't taken too seriously.
At least we have some marketing in China now
Thanks for coming back to say something.
It's too easy to just let a few people hash it out, read the forums, and contribute nothing.
It gives the illusion that it's only 3 or 4 people concerned. If you are reading this and have said nothing so far, please reply to this thread.
congrats on creating a market nonpegged asset
What protects the anonymity of the witness nodes? What's to prevent an attacker from finding the replacements quickly?
Also, it's not just attacks that take them out entirely that we have to worry about. What if they're all corrupted, but still operational?
I think our bitCNY problem is caused by people in China moving from CNY into (other) cryptos, using bitCNY and BTS as intermediates. I. e. CNY -> (via magicwallet) -> bitCNY -> (via forced settlement) -> BTS -> BTC (or other cryptos).