How secure is the BTS client? Is it likely to get viruses that will steal your coins?
Is it fine to keep your client online by booting on a Linux USB?

Dude just stop. You guys are lucky to get anything from PTS, as you already have BTS from the last snapshot on the 5th so you are double dipping. You get 10% from PTS AND 35% of your BTS from your last snapshot.

Quote from: islandking on November 11, 2014, 05:31:53 pm

Quote from: bitcoinnoisseur on November 11, 2014, 05:28:24 pm

Quote from: aloha on November 11, 2014, 05:07:49 pm

Quote

QUESTION: If PTS price plummeted as for all intents and purposes it is useless right now, why hasn't the BTSX price plummeted equally? If there was a merger then wouldn't both be useless and worthless now and only BTS(when it's released, based on your holdings of both PTS and BTSX, be useful and valuable?

There was no merger but share drop by BTSX.
PTS has plummeted as Invictus has withdrawn support and BTSX did not as Invictus will continue to develop it and support it under new name BitShares.

Could you elaborate on this no merger but sharedrop with some simple details as I keep reading different things. Will there be BTS and BTSX? When BTS is released will then BTSX be far less valuable? What is the reason to hold BTSX now or in the future if it does exist along with BTS? WHen will BTS be released? etc.

BTSX will become BTS so if you have 100 BTSX right now you will have 100 BTS. Nothing changes except for the name. They are just changing the name from BTSX to BTS. Hope that clears it up for you

It does. TY very much

No problem I was confused as well a few days ago.

“We took the lucrative savings and checking account vault that
we designed for the hard-working, desperate, exploited, unbanked masses
struggling in corrupt banana republics where there is no rule of law...

…and strengthened it for use in the Civilized World!"

  I like it! Be your own Fort Knox.

  Looking forward to the launch

  Thank you pseudoscops! You are right I misunderstood what Bytemaster was trying to get accross. That makes a lot of sense about the brokers that might try to broker BTS services for convenience as they can be taken down by regulators.

Thanks for clearing that up.


 

Maybe I can clear this up. I haven't re-listened before posting, but I think the OP might be misconstruing some stuff BM mentioned in the Mumble session about the use of intermediaries providing services that may spring up in the future to help people manage BTS and BitAsset accounts once BitShares is more widespread (i.e. companies that might operate atop of the BitShares blockchain. Like BitPay for BTC for instance). I'm paraphrasing but what I got from him was this (correct me if I'm wrong BM):  He said that most people, if BitShares reached mass adoption, will choose to use one of these intermediaries/companies as a matter of convenience (security, backups etc etc) and that those intermediaries will be required to 'Know Their Customers' and comply with local laws and regulations of the country in which they are based.

If you use one of these intermediaries then you potentially open your BTS balances to being seized and reallocated by the govt or state in which the intermediary is based. This sounds a bit scary, but in practice this is no different to the powers that governments already have with money held by your bank today. If the average person really thought it was a large enough threat that the government was going to unfairly steal from them then we'd already see widespread runs on banks and lots of mattresses stuffed with cash. In some parts of the world perhaps that is a real concern where distrust of the state is high enough. For most, convenience will trump the hassle of going it alone with your own cold storage wallet and and learning the associated skills required to manage one. This is how things have to play out if we are to attain widespread adoption.

So really the point BM was making is that BitShares allows you to choose. BitShares does not preclude you from going it alone and avoiding  intermediaries entirely if you want to. If you go down that route then you make it more difficult for centralized regulation/laws to 'seize' your BTS but in my view you probably open yourself up to other more real risks. For most, myself included, the threat from hackers probably registers as a higher threat than government interfering with my legitimately invested money. In my view it'll be good to have the option to use a professionally run intermediary when they become available, even if that means my BTS investments effectively sit under UK law and regulation. YMMV.

Please read what I posted.

Of course whatever you said is out of context since you gave 0 context except an hour of audio.

I read your post again and I think I get what you are saying. I am starting to think that I pulled this out of context which I apologize about.
He starts talking about it at the 11 minute mark but I think I got it wrong. After listening to it again I think he was referring to that if the companies wanted to be compliant then they can keep their own record of shareholders and regulate using that.

I heard this statement being made in the Beyond Bitcoin podcast by Bytemaster. I would like some clarification on this statement.

I disagree that we should conform to regulation, as the whole point of a decentralized blockchain is to remain decentralized. I think we need to have it setup like Bitcoin in that nobody can ever access your assets/shares/funds.

I believe that we should be completely decentralized and the company or any other entity should NEVER be allowed to seize your shares/assets under ANY circumstance.

EDIT: I misunderstood the context of what BM was trying to say.

Thank you pseudoscops! You are right I misunderstood what Bytemaster was trying to get across. It makes a lot more sense now.
Thanks for clearing that up.


 

Maybe I can clear this up. I haven't re-listened before posting, but I think the OP might be misconstruing some stuff BM mentioned in the Mumble session about the use of intermediaries providing services that may spring up in the future to help people manage BTS and BitAsset accounts once BitShares is more widespread (i.e. companies that might operate atop of the BitShares blockchain. Like BitPay for BTC for instance). I'm paraphrasing but what I got from him was this (correct me if I'm wrong BM):  He said that most people, if BitShares reached mass adoption, will choose to use one of these intermediaries/companies as a matter of convenience (security, backups etc etc) and that those intermediaries will be required to 'Know Their Customers' and comply with local laws and regulations of the country in which they are based.

If you use one of these intermediaries then you potentially open your BTS balances to being seized and reallocated by the govt or state in which the intermediary is based. This sounds a bit scary, but in practice this is no different to the powers that governments already have with money held by your bank today. If the average person really thought it was a large enough threat that the government was going to unfairly steal from them then we'd already see widespread runs on banks and lots of mattresses stuffed with cash. In some parts of the world perhaps that is a real concern where distrust of the state is high enough. For most, convenience will trump the hassle of going it alone with your own cold storage wallet and and learning the associated skills required to manage one. This is how things have to play out if we are to attain widespread adoption.

So really the point BM was making is that BitShares allows you to choose. BitShares does not preclude you from going it alone and avoiding  intermediaries entirely if you want to. If you go down that route then you make it more difficult for centralized regulation/laws to 'seize' your BTS but in my view you probably open yourself up to other more real risks. For most, myself included, the threat from hackers probably registers as a higher threat than government interfering with my legitimately invested money. In my view it'll be good to have the option to use a professionally run intermediary when they become available, even if that means my BTS investments effectively sit under UK law and regulation. YMMV.