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Messages - Xypher

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61
General Discussion / Re: Let`s kickstart the Stock derivatives Market
« on: January 03, 2016, 06:50:00 pm »
I'd posted a proposal along this line here
https://bitsharestalk.org/index.php/topic,20855.msg269513.html#msg269513

I am willing to get a hedge fund set in an offshore location and assist with bringing the stock markets to the DEX.
Been already conversing with a few graduates from a prominent western uni in regards to the possibilities involved with this.

Regards
X

62
Follow My Vote / Re: any update news?
« on: January 03, 2016, 09:27:01 am »
Also would like t mention that FMV is a title sponsor for Freebie's Tournament this coming 16th.
Adam has been working towards garnering more sponsors for the event too.

Regards

63
What is exactly the problem you are trying to solve here? I think the system works as it should be working. Those who have the most BTS will have the most voting power.

Bigger problem right now is that we don't have enough high quality committee members. One reason is the lack of GUI for committee, I suspect that many aren't interested using the text client.

Correct if I'm wrong, but I have the understanding that when shareholders vote for committee, they don't vote only for individual members but for size of the committee also. If everybody votes for only three members, there won't be more than three members in the committee, and that's pretty much centralized then.

we have more people that can act as good committee members, such as @clayop, @Bhuz, but they are now not voted in.
on the contrary, we now have 5 inits accounts in the committee that taken the places.



one fact is, among the current 11 active committee members, I am the only one that do not depend on BM's support.
if one owns enough voting power, he can control all, and the necessary voting power is far less than 50%.
we can not call such a  platform a DAC. we need to make it a real DAC, this is the problem I want to solve.
everyone voting 3 committee members will not result in centralization, because it is clearly not always the same 3 be voted.

That's a scary situation to be in!

64
We had three bot like systems developed in-house,  With our key focus for 2017 being games - I don't think we'll be launching them under our banner. However if others would want to take over / run them in collaboration with us, am open to discussions. Of the three projects, the third one can be run solely with around 10-15 btc in arb capital.

5.  Electrons.io

Electrons.io is a user intuitive exchange system designed to empower retail and enterprise consumers to have quick and easy exchanges while enabling exchanges to tackle their liquidity issue. In the current iteration of the product, an individual basically sends the amount of Bitshares he needs exchanged to a bitshares wallet (electron-io) with his bitcoin wallet id in the memo of the transaction and receives his bitcoin in a matter of ten minutes (or less). This is the quickest form of exchanging an alt currency can currently have and requires absolutely no sign ups from the users side. The user further benefits by the fact that he receives the best prices at the lowest amount of time during each and every exchange. This is revolutionary in the sense that it is is no longer traders with arbitrage bots set up across exchanges that have the ability to get the best prices but the average retail consumer too. The exchanges, the system is currently plugged into further benefits by a higher level of liquidity on the platform and thereby benefits by a constant inflow of orders.
 
6. Proton

Proton is a cross platform user issued asset marketplace that allows individuals to buy assets from other crypto-currencies without having to acquire the base currency itself. For instance, an investor having a large holding in Bitshares will be able to acquire an asset that has been released on the Nxt Asset Exchange without ever having to exchange to nxt. All he would have to do is transact the BTS to a central account with his nxt account in the memo of the transaction. The system would automatically exchange his currency to Nxt, place a buy bid on the Nxt asset exchange and get him the required number of assets from the other market. The system, currnetly plugged into Ethereum, Nxt and Bts offers the average investor an opportunity to buy assets from any other platform without having to bother with an actual exchange. Since the prices obtained in the counter currency are the best , they could at the time, the system also ensures the user receives the maximum amount of nxt for the money they invest.

7, Barter.

Barter is a project launched with the intention of giving the deepest order books to consumers looking to exchange their questions via combining the order books of a number of exchanges together. A single api communicates with a number of other exchanges and thereby combines the order books of all other exchanges together to provide the user with a single orderbook that’s deep and highly liquid. What this offers is the ability for a user to buy and sell his coins at the best rate, every single time. This is highly useful for individuals looking to do enterprise level exchanges through combining the order books of multiple exchanges together.


65
General Discussion / Re: Taking the DEX Mainstream
« on: January 02, 2016, 05:28:25 pm »
Additional Question : Would it be smart to set up an offshore entity / fund - trading shares in mainstream / public market stocks - on the Dex ? Say the fund buys shares - and lists them on the dex and then permits the market to fluctuate in accordance with the market variance. Am talking about being inclusive of publicly traded stocks .Would individuals want to buy into it?
I think dacx.com was doing this.

Yes, but it slowly died out / I don't know what's going on with them off late.
The fund am talking of will probably work with mainstream investors, be non-anon and have individuals with prior experiences in banks .
Building something like this on top of BTS makes sense due to the speed of tx's and conf times.
There's also the Nxt Asset Exchange.

66
General Discussion / Re: Taking the DEX Mainstream
« on: January 02, 2016, 05:02:40 pm »
Additional Question : Would it be smart to set up an offshore entity / fund - trading shares in mainstream / public market stocks - on the Dex ? Say the fund buys shares - and lists them on the dex and then permits the market to fluctuate in accordance with the market variance. Am talking about being inclusive of publicly traded stocks .Would individuals want to buy into it?

68
General Discussion / Taking the DEX Mainstream
« on: January 02, 2016, 10:06:26 am »
Ever since I came across crypto's I have been fascinated about the offerings it makes to the masses. When I look at the blockchain, I see a symbol of rebellion crafted in the heart of the recession of 2008, created as the ultimate weapon designed to empower the average individual to live his or her life with liberty and freedom without being subject to the manipulation of government, religion or banks. The transparency of the blockchain, the cost-effectiveness of transfers and the ease of 24/7 remittance without being independent on 3rd parties  are each indicators of the way e-commerce would be in the 21st century : Independent of a central authority and empowering to those using it. However, when we look at the past 5 or so years of crypto, the trends have not been the way the founder of Bitcoin probably envisioned it to be. To begin with, we have the constant hacks and theft from centralized exchange, then there's the block size debate that's rampant with Bitcoin as of now and amongst alt's there's the constant challenge of attaining scale and profitability while staying legal. Fundamentally, when I look at systems like NXT and Bts, post their cheap remittance prices, and quick tx times, the most beautiful aspect I see is the DEX - especially when it comes to UIA's and AE's .  This post suggests a means to garner legitimate activity on the decentralized markets while ensuring investor funds are well taken care of.


The primary challenge with a UIA  / Asset is ensuring organizations behind them stay legitimate on the long run. In a large number of cases ,investors are often aware about the happenings of the organization and possess very little control over how the money will be utilized by organization. One of the means of verifying legitimacy is by providing company details to those investing. However, this provides very little control on the company and due to the same founders  are almost free to do whatsoever they please with the funds they have. If we look at the history of crypto-oriented IPO's there have been in numerous cases where founders have almost shown zero accountability in regards to the funds raised and investors are left dumbstruck as to what's truly going on.

However, it also needs mention that the UIA / Asset exchange is a key player in how economics and capitalism itself might work in the 21st century. It decentralizes the way companies raise funds and individuals buy into organizations. If an organization seems fairly legit and largely successful then non institutional investors should be able to trade and buy into the shares of the organization without having to go through the hassle of going through funds or heavy capital requirements. As of now, most of our work is oriented towards bringing the banks and NASDAQ like organizations onto the blockchain, but what if...things weren't like that ?

What if individuals here could buy into a possible unicorn or start-up raising seed stage capital from a major accelerator ?
What if shares that are currently  only with FII's (foreign institutional investors) were made available to investors here ?
What if you could go long / short just like we've been doing with existing market pegged assets ?

This is an early stage proposal for what I think is a good direction to head in.


   1. A hedge fund is set up with investors from the community
   2. AML/KYC requirements are taken care of via 3rd party integrations (Jumio ? )
   3. The fund manager speaks with FII's and Accelerators about purchasing shares with money from the hedge fund
   4. Shares are listed on the DEX for purchase.
   5. Prices fluctuate depending on PR / announcements of the start-ups.
   6. As more individual investors buy in - to buy into Unicorn start-ups, the underlying currency appreciates in value.


My proposed solution definitely has its flaws. To begin with , here are some


   1. The hedge fund could go rogue and run away with people's money
   2. Untimely setting up of deals with FII's and accelerators could cause issues
   3. The FII and the hedge fund could go rogue with insider trading
   4. Market crashes are a given (Imagine ever note shares being on the DEX now)
   5. Whales will hold on to their cash to see it appreciate in value
   6. Trading fees could be an issue (but hey there's FBA)
   7. Anonymity will not always be possible
   8. Professionalism of the highest order will be needed from the hedge fund manager.




What am proposing is a means to buy into start-ups that range from seed to pre-ipo - depending on the amount of capital available.
I will soon be in talks with accelerators and FII's in regards to investigating the legalities and possibilities in this direction.
In case you'd like to make a joint effort, please do ping me via PM or e-mail xypher@null.net


P.s - I understand this is a very flawed "napkin" concept as of now - and will take atleast 3 months to come into something that's solid / viable. This thread is solely for discussing the challenges and possibilities involved.

69
Before we go searching for talented C++ coders outside of the BitShares community, might it not be wise to inquire as to which of our local bts community talents could be persuaded to put time into such an effort?  @xeroc is already well along in his efforts.  What about @svk?  Might a sufficiently well paid worker proposal be able to persuade some of our highly talented friends to focus on developing this 'foundation'?

If we're going to spend bts for such efforts, if possible I'd prefer to see it go towards people whose reputations and interests are already firmly aligned with the success of BitShares.

Thoughts?


Please contact @hybridd and @kuro112 .
I am not sure how good they are with c++, but they could possibly help.

Hybridd has been providing support for sharebits in the freebie section and kuro has written tutorials in the past (with no expectations of compensation ) -
https://bitsharestalk.org/index.php/topic,19612.msg251784.html

Regards
Xypher

70
General Discussion / Re: We need some base money in the exchange.
« on: December 31, 2015, 04:22:42 pm »
I am willing to provide my time, energy and any other resource at my disposal towards market creation.
I am not in a state to commit financially towards this , however I am willing to dedicate time towards ensuring market activity over a period of time.
Do let me know if I can assist in any fashion.

Regards
X

71
General Discussion / Re: Reducing Bitshares Supply : A different approach
« on: December 31, 2015, 08:35:00 am »
The shapeshift like system is ready for Bitshares  and works directly from the wallet.
Nxt is currently live too.
We don't intend to retain ownership of the product, so in case there is sufficient interest in a crowdfund - am happy to put the project live and burn/issue dividends from the project.

Regards

so this is between and within both bts and nxt? so i can trade bts assets for nxt ones and vice versa?  awesome :)

Theoretically, yes.
We've had the system ready since early December but .. noone really cared.
I am more focused on gamebet.gg as of now. The MVP went live and we should ideally be taking bets by the end of the month.
I am open to synergies / complete acquisition of the product by the community etc but right now my focus is our core gaming projects.
I reached out to CCEDK and a few other individuals who could indeed take over the 3 tier exchange suite we have ready but so far talks have not gone anywhere.

72
General Discussion / Re: Why Vision Matters Blog Post
« on: December 29, 2015, 06:49:59 pm »
I agree a vision is important and it's nice to see some examples and explanations of where MAS could go.

It seems premature to take what will be seen as another change on an untested idea and trying to mould BitShares around that vision.  Similar to Vote DAC, it's an area you're personally passionate about so I think have some confirmation bias when you receive a bit of positive feedback

If it's fairly simple to implement a basic one, I know some members have already expressed a willingness to make a financial commitment to it. So I would recommend attempting to launch a basic version and based on its popularity perhaps work some of those concepts more into a future vision.

As Xeroc pointed out even though it's titled 'BitShares vision' it's your personal vision and perhaps should be titled as such.

Articulating an overarching vision for BitShares may be a valuable exercise for some of the reasons you pointed out but it would be good if there was community involvement in creating something to that effect so that it has more community buy-in, resonates & is likely to be more widely popular.

http://www.paulgraham.com/bias.html
https://www.chrisstucchio.com/blog/2015/paul_grahams_bias_test.html

Initiating confusion, in 3,..2..1

73
Bounty has been paid. If you'll find grammar mistakes there all questions to @Xypher :-)

Thank you. I did a quick skim and fixed most typo's (approx 150-170 of them).
I'll go take a quick nap and re-run through to ensure I haven't missed anything.

Do point out if you catch anything and I'll fix it right away.

74
Freebie / Re: What is this PM about?
« on: December 29, 2015, 05:36:19 pm »
Anyone can request a withdrawal code be generated, just how anyone can punch your email into a site and hit "Forget Password" which will send you an email. There's nothing too alarming.

Can't this be abused to generate spam ?
Am assuming there are limits embedded by the forum on the bot that limits no of Pm's sent ?

75
General Discussion / Re: A simple fiat bridge into smartcoins
« on: December 29, 2015, 03:44:02 pm »
Electrons.io is a user intuitive exchange system designed to empower retail and enterprise consumers to have quick and easy exchanges while enabling exchanges to tackle their liquidity issue. In the current iteration of the product, an individual basically sends the amount of Bitshares he needs exchanged to a bitshares wallet (electron-io) with his bitcoin wallet id in the memo of the transaction and receives his bitcoin in a matter of ten minutes (or less). This is the quickest form of exchanging an alt currency can currently have and requires absolutely no sign ups from the users side. The user further benefits by the fact that he receives the best prices at the lowest amount of time during each and every exchange. This is revolutionary in the sense that it is is no longer traders with arbitrage bots set up across exchanges that have the ability to get the best prices but the average retail consumer too. The exchanges, the system is currently plugged into further benefits by a higher level of liquidity on the platform and thereby benefits by a constant inflow of orders.


Its currently up and ready, just never launched because we're busy with other projects.
Offered it to CCEDK and a few other exchanges though.

Regards

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