Quote from: Permie on June 27, 2015, 03:13:29 pm

Quote from: bytemaster on June 27, 2015, 02:59:34 pm

Create a bitasset that can only be created by placing one BitUSD in collateral.   
No margin calls are possible because the maximum outcome is 1 USD and the min outcome is 0 USD. 

At the end of the match, the issuer will trigger a "black swan" at a price of either 1 or 0 USD.    If you win you get $1 if you lose you get 0. 

If you buy at $0.1 and win, then you get a 10x return.    If you buy at $0.50 and win you get a 2x return.  If you buy at $0.90 and win you get a 11% return.    Likewise, if you sell at $0.1 and it goes to 0 then you make $0.1.   

This is very neat
I think it speaks well to the flexibility of a system that follows few strict rules which provide the boundaries a potential-well of innovation.

Once people are in agreement of a few ground rules they are free to cooperate and collaborate as they see fit, likely supported by profits gained from serving public need

Ooooh okay

But doesnt that mean that there is a much higher incentive to buy in an opposite 'user issued asset' than to short if you know a team is going to loose.

The way I understand it, is that if you know a team is going to loose and you take out a short position you can double your money. But if you buy a user issued asset betting that the other team is going to win you could make a lot more than 2X.

So shorters would never sell below $0.5, right? and the most anyone can do is double their money?

Quote from: MarkLyford on June 27, 2015, 11:26:57 am

Regarding the welcoming side of your comments I agree. This community needs to be more welcoming and demonstrate people are welcome here. Like it's been said before there is  and should be no regulations in place preventing people and companies from using this technology. It comes down to the individual then to decide if they get involved on a case by case basis.

I have no opinion one way or the other right now concerning banx.

I do however regarding the above. I agree people should be open minded and welcoming to those that align with the principles of financial freedom, non-violence and personal empowerment, in other words the core philosophy BitShares was built to promote. For those that don't share those ideals I say there's the door, go do your thing on some other playground.

Problem is that some in this community don't value those core beliefs as much as others. To further complicate things the platform itself provides tools that facilitate control by regulators and others that don't value those core beliefs or mistakenly believe that a highly regulated segment can coexist with an unregulated, so called "dark" segment.

I have my doubts about that, but hey - this is an experimental platform for technology as well as governance so I'm willing to see it through and to how it plays out. IMO it's a matter of time before the most powerful force, freedom lovers or regulators, become dominant and push the other group out.

So if anyone sees resistance to the foundational core beliefs that led to the invention of blockchain technology in general and BitShares specifically I say you better expect that here and grow a thicker skin. It shouldn't be personal; anyone that is perceived to assail or be contrary to the core principles that BitShares represents should expect some resistance. It's a matter of protecting the values that provide personal and financial freedom, and that benefits everyone that doesn't want to take advantage or exert control over others.

But alas, many don't understand or care about the core principles and are thus willing to accept regulatory interference under the false assumption it will make them safer and more secure. Others may understand the risks, but acquiesce to regulation to gain more widespread acceptance of BitShares, in hopes they can make big profits and come out ahead in a rigged game by doting their "I"s and crossing their "T"s to avoid the regulator's whims and their thirst for power to control others.

Choose the red pill or blue pill, it's up to you. Like Donald L. Kimball wrote in his book, The Choice, Freedom or Slavery, the choice is ours to make. Please choose wisely.

Create a bitasset that can only be created by placing one BitUSD in collateral.   
No margin calls are possible because the maximum outcome is 1 USD and the min outcome is 0 USD. 

At the end of the match, the issuer will trigger a "black swan" at a price of either 1 or 0 USD.    If you win you get $1 if you lose you get 0. 

If you buy at $0.1 and win, then you get a 10x return.    If you buy at $0.50 and win you get a 2x return.  If you buy at $0.90 and win you get a 11% return.    Likewise, if you sell at $0.1 and it goes to 0 then you make $0.1.   

Front running is a bogus issue to begin with. 


Sent from my iPhone using Tapatalk

For further analysis and possible solutions (or at least ways of mitigating the front running) check out this post I made a few months back:
https://bitsharestalk.org/index.php/topic,13831.msg180101.html#msg180101

This is all very interesting, but perhaps we are over-thinking this too much.

- front running is only one form of market manipulation, the current order forms *SLOW DOWN* people wishing to move the market which gives everyone a chance to react.

- someone is going to make the money from timing attacks we can go ahead and "let them" make it.  To the average guy he might sometimes get a better deal, but certainly wouldn't get any worse deal. 

So if you want a more traditional order then it may not matter all that much.   

So now all you need to do is identify the means of establishing who gets the benefit of the overlap (buyer or seller)... throw in a small spread for the network and it could be very "traditional" with all of the problems of a traditional system.   Let the "experts" milk inefficiencies.

Just a thought.

Quote from: Permie on June 27, 2015, 12:44:48 pm

Quote from: DataSecurityNode on June 27, 2015, 12:31:30 pm

We are going to be a registrar wallet provider, so I would be happy to work with you on this.

I really like all you are talking about though, and I do believe you are the guy to get it done. It's the refer program that will be the vehicle in bitshares to carry this forward though, not a delegate bid.

Thanks Data, that means a lot!

I thought that a delegate position may not be suitable.
I am also in discussions with other members for a website collaboration, with the referral system in mind.

Another idea I have is to write these prospecti, and release excerpts to the members for crowdfunding it's open source release. I may also seek advice from other members such as @starspirit and allow them viewing of the full copy in order to vouch for their value.
If the goal isn't met within the time period, funds will be burned or returned and the documents will be released privately with rights reserved on publication.
I would then be seeking relationships with members such as @mangou007 in the french community, and others for translations in return for rights to publish.

This sounds more suitable to me, what do you think?

If the funding is reachable, especially with our current market cap in mind, then that could work also. I would caution you that the last attempted crowdfund here was very disappointing to many and this might work against you (moonstone). I think however that you are in a different space.

I am curious how you would see a return to the crowdfunders.. perhaps in the way of sharing the transactions generated by the refer? Or would this just be a burn for the community good?

Identify business use-cases such as gold dealing, couponing, prediction markets, decentralized banking services and produce industry-specific and easy to understand Prospectus' outlining how and why to integrate with BitShares.

I will strive to use these materials to target and close existing businesses and walk them through the set-up, in public on the forums.
These use-cases will then be incorporated into industry specific prospecti.
I envision that 3 use cases for each industry will be sufficient that there will no longer be a need for public walkthroughs.
By that point, the prospectus will contain all necessary information and proven-claims of profit increases and cost reductions due to BitShares integration of competiors in the industry.

Bitlicense is required for digital currency exchanges.

The BTS network provides backbone services to those exchanges.

So, the network should have the ability to serve the needs of any exchange that wants to be compliance with bitlicense.

Will the BTS network have these (optional) compliance widgets built in? or not?

Quote

Virtual Currency Business Activity means the conduct of any one of the following types
of activities:
5. controlling, administering, or issuing a virtual currency.

If CMX does anything remotely like this, then it needs a bitlicense.

Also, having a bitlicense might help inform the CMX development team about what kind of network add-on features they might create that would help their clients (like CCEDK and banx.io) be in conformity with their own need for a bitlicense.