Show Posts

This section allows you to view all posts made by this member. Note that you can only see posts made in areas you currently have access to.


Topics - santaclause102

Pages: 1 2 3 [4] 5 6 7 8 9 10
46
Français (French) / European meetup in Frankfurt?
« on: January 21, 2015, 10:40:00 pm »
Hey my french friends!
Xeroc, PC and I will be attending the conference in Frankfurt at the 29th and 30th. Info here https://www.ecurex.com/p2pfisy/
Would anyone like to join? :)
 

47
Muse/SoundDAC / I'm bullish on Peertracks!
« on: January 16, 2015, 09:05:24 pm »
Eddie and Cedric have exceeded my expectations with how they handled their project and they are getting the word out about Bitshares!
 
Listen: https://letstalkbitcoin.com/blog/post/tbs-ep10-peertracks-eddie-corral-and-cdrik-cobban
Check out: http://peertracks.com/

"Let's show support of the Bitshares community" as testz would put it!

48
General Discussion / BitShares solution to Bitcoins two key issues
« on: January 14, 2015, 08:22:42 pm »
http://www.coindesk.com/bitcoin-price-continues-fall-breaks-200-mark/
This article is clear about what Bitcoin suffers from:

Quote
Holders looking to spend their bitcoins can now only dream of such purchasing power returning in the near future as miners produce bitcoins at a rate of 25 coins every 10 minutes and payment processors convert coins instantly to fiat to shield merchants from price uncertainty.
-> Price volatility (bad for merchants and consumers)
-> network security costs greater than adoption

How do we make clear that we have a working solution that is now tested for half a year? A few random ideas:

- Get some mainstream media to make a story about Bitcoin's weakness and how it has been solved
- A blog article from Bytemaster
- Get on Max Kaiser with the solution
- wait for the technology to finish and show it to the world by a product that is working for a growing number of customers
- pull out Max Wright's video again https://www.youtube.com/watch?v=_-TLA3j-ic4

49
General Discussion / Proofreading Blog Post "The-Worlds-First-Decentalized-Exchange"
« on: January 11, 2015, 11:41:19 am »
Quote
A decentralized exchange is location neutral and gives everyone has an equal opportunity.


Quote
Every Dollar, Euro, bitcoin
There is a space in front of "Every" which shouldn't be there.

Quote
Companies can issue their on stock on the BitShares network

Quote
If you would
There is a space before "If".

50
General Discussion / Improving DPOS
« on: January 08, 2015, 04:32:41 pm »
What about a mixed system: Delegates have to put up a tendermint like (http://tendermint.com/docs/tendermint.pdf) collateral which is destroyed when someone signs a block on more than one chain. Either the Top 100 security delegates would have to all put up the same collateral hard coded into the client or the amount of collateral could be a factor besides shareholder approval (effect could be capped for example at 500% above average collateral among the top 101 delegates).
That would probably only work at scale when the competition among delegates is higher.

The overall idea is to rely on different consensus mechanisms to increase the overall network resilience.

An idea I like better than the above because it suffers less from what Bytemaster criticizes in his blog about non delegated POS: Among the 101 delegates could be 10 that are not determined by shareholder approval but by stake size. Because it are 10 fixed positions that all get the same returns from their position the problem described in BM's post about the centralization of POS doesn't apply. The problem here would be instead that 10 stakeholders with considerable stake would have to be found that are also able to run a delegate. 
The advantage would be that every 100 seconds there was someone producing a block that had a direct material interest in the security of the network as compared to delegates who may "only" have an interest in keeping up their reputation and being reelected.

Variation: Instead of stake being the determining factor for selecting the 10 positions height of collateral (tendermint idea) could be considered. Not sure how this would play out.
I asked a few questions on the tendermint forum (based on the concerns that lead to DPOS) http://forum.tendermint.com/t/questions-on-tendermint/42/2

Regarding voter apathy: Assuming voter apathy is the biggest challenge in DPOS wouldn't it be worth it to make "vote as delegates recommend"[1] the only option? Disadvantage: Reduction (not loss) of anyway incomplete privacy. Logic: Network security comes first and has to work, otherwise the whole system including advancements in privacy aren't worth anything. The gains of individuals (privacy) shouldn't harm everyone (security).

Additional suggestion: If one of the 10 delegates changes their recommendations / slate then my vote should change too otherwise slates can not react fast and vote an evil / unreliable delegate out.
Alternative: Every week my client performs a transaction of my whole stake to myself so to confirm that I still vote as the slates I approved.

A concern with slate voting (RDPOS): If I vote for 4 slates and all of these slates have delegate XY on their slate. Then XY turns out to be evil or unreliable and 3 of the 4 delegates I approved take XY of their slate then I still fully approve XY. Any solutions to that?

[1] I assume "vote as delegates recommend" works like this: You vote say for 50 delegates. If 10 of them have a slate with other delegates they recommend, then you vote for these 10 plus all their recommended delegates. Plus you vote for the 40 delegates that do not have a slate. Maybe this: If more than 50% of the slates I approve actively disapprove (downvote button) delegate xy than my overall vote is negative for delegate xy is negative.

51
General Discussion / Max Wright at his best
« on: December 30, 2014, 07:01:07 pm »
http://bitcoinist.net/interview-max-wright-writer-bitshares-101/

52
General Discussion / Paper on insurance with blockchain technology
« on: December 30, 2014, 04:17:43 pm »
http://www.longfinance.net/images/Chain_Of_A_Lifetime_December2014.pdf

53
General Discussion / Advertising "The Blockchain Is Hiring"
« on: December 26, 2014, 10:42:40 pm »
After listening to the newest mumble hangout (12/26) where BM talked about the potential and need to hire more skilled developers I had the following idea:

With any paid position not only and maybe even not primarily money is what counts. More it is the working environment, the vision of the company and how serious the business is (how long lasting will my employment be). That all counts even more if a blockchain is hiring. It is a totally new concept and while many will find it interesting equally many will perceive it as a gimmick and not something to base your career on.

What means of communication helps the most to change the public perception of "the bitshares blockchain is hiring" as "just being some gimmick some altcoin developers want attack some attention with" (that would be the worst case perception and I don't think the majority of people have it but you get my point)? Text is not perfect here, it is too unpersonal and doesn't create trust, doens't give them something tangible.
The idea: A video where all BitShares devs introduce themselves. In that video the bitshares philosophy, the business model / core features of bitshares could be explained and what it means to be hired by the blockchain could be explained.
The effect: People will see a lot of talented people that have chosen to by hired by the blockchain. Trust is built since there is personal interaction between the viewer and the people that are backing the project.

Any other ideas?

54
Random Discussion / Github question
« on: December 25, 2014, 10:37:54 pm »
I forked this https://github.com/bytemaster/bytemaster.github.io  to point out typos. But my fork does not contain the newest posts so I can not submit pull requests for them. How can I make sure that my fork has the newest posts? I clicked on "fork" while being on the link above but that just directed my to my own fork that is not up to date anymore...

55
Follow My Vote / Mike Hearn paper on voting
« on: December 23, 2014, 08:58:23 pm »
https://docs.google.com/document/pub?id=1jidmNJHWAtsPLCUD7EPPm8jOEV93kSXbZOMycqCWOyA

Quote
Every citizen may cast a vote on every decision made. If they do not cast a vote then the system automatically votes for them according to how a delegate voted. A delegate is anyone whom somebody else (a delegator) has asked to vote on their behalf for a given set of topics. Delegation is recursive and all citizens must have at least one delegate, but may have more.

56
General Discussion / Interesting discussion on 'weak subjectivity' and proof of stake
« on: December 22, 2014, 04:19:38 pm »
https://blog.ethereum.org/2014/11/25/proof-stake-learned-love-weak-subjectivity/#comment-1712787612 - see the comments and the discussion between Vitalik, Paul S and Jae Kwon.

Weak subjectivity means relying on friends of core developers to provide checkpoints to avoid Long Range Nothing at Stake attacks.

Vitalik:
Quote
I would totally not support subjectivity at the multi-hour timescales that nxt and bitshares are currently going with.

I am not aware of a discussion or a documentation about such details for BitShares. How are checkpoints handled for BitShares at the moment?

57
General Discussion / Vitalik on stable currencies and POS
« on: December 21, 2014, 11:59:47 pm »
https://www.youtube.com/watch?v=qPsCGvXyrP4

On cc price stability: From 01:20:00 on price stable cc. The approach he mentions works about like this: The protocol issues more coins if price goes above the feed price (USD feed for example) and destroys / buys back coins if price goes below price feed.
There are two currencies: A stable coin and a volatile coin. In case it is necessary to increase stable coin supply, stable coins are auctioned of for volatile coins. 
In case stable coin money supply has to shrink the auction is the other way around (volatile coins auctioned of for stable coins).
The above is from Vitalik's talk. Here is a more detailed whitepaper: https://github.com/rmsams/stablecoins/blob/master/00-main.pdf

On POS: Vitalik turned a POS fan. Not much new, except for 01:08:00 - 01:10:05. But overall not yet that well thought out.
 

58
Stakeholder Proposals / Bytemaster: "rather produce no than two blocks"
« on: December 20, 2014, 01:55:40 pm »
I didn't see this direction propagated on this forum so here it is :) Here https://www.dropbox.com/s/0m0plhj8ggw2pi9/Mumble%20Chat%2012_19_2014%20with%20intro.ogg?dl=0  around minute 12 BM made clear what delegates are supposed to do in case of a fork.

59
General Discussion / Article Series - The value proposition of BitShares I & II (feedback wanted)
« on: December 01, 2014, 07:48:14 pm »
Article series: The value proposition of BitShares.
Two articles: Part I - BitShares Core Technology, Part II - BitAssets

I wrote them both for the Bitshares blog back in September, Part I is already published: http://bitshares.org/the-value-proposition-of-bitsharesx-part-i-core-technology/

The idea was to explain where the value proposition of BitShares lies as simple as possible but without loosing too much precision. Actually I was tired of explaining it over and over again to people so I always sent them these articles which contain all my good arguments why BitShares has value. [I might have to update Part I with paid delegates]

I also have written Part II back then but didn't publish it because the market mechanics for BitAssets kept changing. Now I rewrote the "how BitAssets work" Part over the weekend.

I would like your feedback on it. I won't rewrite the whole thing :) But if you see mistakes or if you think something is missing then let's add it. Then we can put it on the blog or push it to whatever channel you can come up with. So here it is:

Quote
The value proposition of Bitshares – Part II (BitAssets)


In Part I, we covered BitShares’s core technology. Today, I would like to introduce to you what BitShares offers beyond the basic yet genius idea Sathosi introduced with Bitcoin in 2009. We will take a look at one of the core feature of BitShares today, namely BitAssets.

What are BitAssets?

BitAssets, also called market pegged assets, are tokens that are traded on the BitShares blockchain, like the bitcoin tokens are traded on the Bitcoin blockchain. So BitAssets have the same properties as all crypto currencies: they are traded without a middle man to facilitate the transaction, the user stays in full control of his assets (he/she holds the private keys necessary to transfer assets), there are no charge backs for merchants and transactions are fast, cheap and do not depend on business hours. But here is what makes BitAssets different from other crypto currencies: they are stable in price. More specifically, BitAssets are pegged to the value of a real world asset. BitUSD, for example, tracks the value of the US dollar and can be traded and exchanged at the value of the US dollar.
BitAssets can be pegged to the value of anything that is measurable and has an exchange rate, like US dollars, gold, oil, stocks, etc.
BitAssets pay interest to their holders. The interest comes from trading fees.

BitAssets offer value for two groups of people:

(1) Traders and individuals that need to hedge risks.
(2) Shoppers, merchants and savers. That is anyone who is interested in price stability, the convenience of crypto-currencies and above average interest rates.

How does it work?

There is no central party that issues BitUSD so there is no counterparty risk where a centralized issuer could default on his promise to exchange the BitAsset for the real world asset. Instead a decentralized prediction market ensures that 1 BitUSD is always worth 1 USD.

I will illustrate the mechanics of BitAssets with BitUSD as an example: Users can take two sides of a bet, comparable to a well kown finanical instrument called "contracts for difference". If one predicts that the price of the USD compared to BTS will go up they buy BitUSD which can always be exchanged for 1 USD. If someone predicts that BTS will go up in price compared to the USD she can short sell BitUSD, meaning she lends BitUSD into existence by giving up collateral in BTS worth 3 times the value of the BitUSD that are lent into existence. The BitUSD short seller can make a profit (measured in USD) by buying back the BitUSD for less BTS than she sold it before, close her position and get  her collateral back. The BitUSD buyer on the other side gets the price stability of the dollar. We can also look at it differently and measure the relative gains and losses of the BitUSD holder in BTS, then the BitUSD holder is making a loss (measured in BTS) if the price of BTS rises compared to the USD.

The 300% collateralization guarentees that there is enough collateral even if the value of the collateral falls quickly. Margin calls are triggered if BTS (the collateal) falls by 33% meaning that the BitShares software automatically buys back BitUSD from the client's internal market and closes the short position taking the bought back BitUSD out of circulation.

BitUSD can only be shorted into existence at or above the exchange rate of USD to BTS which is fed into the system via a price feed1. The price feed is compiled from at least 52 different feeds provided by BitShares delegates (for more info on delegates see http://wiki.bitshares.org/index.php/DPOS_or_Delegated_Proof_of_Stake#Role_of_Delegates). This guarentees that the value of BitUSD does no decrease in case there is a big demand for shorting BitUSD.

Short sellers have to cover their position at or above the price feed at least every 30 days after opening the short position. This is effectively a guarantee to any BitUSD holder that they can sell bitUSD for the dollar equivalent of BTS within a 30 day period.

For a more detailed explanation of how BitAssets work see [Link to Whitepaper on bitshares.org]

What is it good for?

For one, traders are given the possibility to inexpensively and conveniently speculate on the value of anything that can be priced and can do so without any counterparty risk. Anything, including stocks, can be traded at lower costs and without relying on the enforcement of legal contracts with banks and exchanges.
Farmers can hedge against a price decline in corn due to a rainy summer by shorting BitCorn (CBOT).
If you want to trade currency pairs like EUR/USD and assume that the Euro will go up in price against the USD, then you would want to go long on BitEUR and go short on BitUSD.

Savers and shoppers get a price stable crypto currency which pays interest. The interest paid to BitAsset holders comes from trading fees paid by those speculating on the price trend of the underlying BitAsset.
If you think gold is the best money there is but encounter problems cutting out little pieces of your bullion and frequently get rejected by the cashier when you ask if he could verify and weigh your nugget then BitGLD might be your money of choice. BitGLD has the value of an ounce of gold and can be transferred to a merchant or a friend privately, instantly, divisibly and at a minimal cost.
There is no need anymore for a merchant to use a payment processor to protect the merchant from the price volatility of a crypto currency.

Another aspect might be that, having a stable and trust-less asset (no counterparty risk) could help real-world adoption of crypto currency in general because people are more incentivized to spend something that is stable in value rather than something that is horded in expectation of value appreciation.

In economies without a stable currency, BitUSD can serve as a stable and portable medium of exchange today. There is no need to wait for adoption of a crypto currency to begin slowly and increase market capitalization and therefore reduce the volatility of crypto currencies over time.

We can conclude that, BitAssets are market peged derivatives with the transferability characteristics of Bitcoin. BitAssets are a powerful tool for trading as well as everyday applications like e-commerce. The world we live in today suffers from a fragile banking system based on fractional reserve banking and intransparency, both of which raise the bariers to entry and encourage corruption. BitShares offers a 300% reserve alternative, the privacy of public key cryptography and the transparency of a public ledger. 


Join our BitShares community, which is open minded and aims to solve problems of centralization through decentralized cryptographic systems.
 

60
General Discussion / Is it possible to see how stake size correlates with voting participation?
« on: November 30, 2014, 12:44:21 am »
...do big stake tend to vote more often and with more of their stake?

And is it known how much stake has been imported from AGS/PTS?


Pages: 1 2 3 [4] 5 6 7 8 9 10

Page created in 0.164 seconds with 18 queries.