IMO bitcoin and all it's side-chains will forever be dogged by the awful confirmation times. Not sure what satoshi was thinking when he designed that part, tbh.

Quote from: luckybit on June 09, 2015, 05:10:04 am

Team Bitshares is going to have some stiff competition.

How many years away is this from completion?

Personally, I've never liked the idea of sidechains. Maybe I simply don't understand why the bitcoin community won't one day decide, "No sidechains for you!".

To anyone : Is that a real possibility or not? How do you know? Did you predict Gavin Andresen would decide to fork bitcoin without developer consensus? If not, how can I trust your opinion?

What this is missing is an incentive system for market makers.

User-Issued Assets
Regulation-compatible cryptoasset issuance.
The BitShares platform provides a feature known as "user-issued assets" to help facilitate profitable business models for certain types of services. The term refers to a type of custom token registered on the platform, which users can hold and trade within certain restrictions. The creator of such an asset publically names, describes, and distributes its tokens, and can specify customized requirements, such as an approved whitelist of accounts permitted to hold the tokens, or the associated trading and transfer fees.

BitShares allows individuals and companies to issue their own tokens for anything they can imagine. Common use cases include:

    Deposit Receipts
        1. Know Your Customer
        2. Asset Seizing
        3. Market Restriction
        4. Transfer Restrictions
    Company Shares
    Event Tickets
    Rewards Points
    Individual or Corporate Debt
    Crowd Funding
    Digital Property
    Privatized BitAssets (Stable Cryptocurrencies)
    Information/Prediction Markets
    How to Profit by Issuing an Asset
        Fee Pools

The potential use cases for user-issued assets are innumerable, and the regulations that apply to each kind of token vary widely, and are often different in every jurisdiction. BitShares provides the tools to allow issuers to remain compliant with all applicable regulations when issuing assets.

Following are a few example use cases for user-issued assets.
Deposit Receipts

Banks are simply companies that maintain a database of customer account balances and facilitate the transfer of these assets among their depositors. Companies like Dwolla and Paypal essentially issue deposit receipts, and then offer cheaper transfers among their users than between banks. With BitShares, it is now possible to move these internal databases onto the block chain where the deposits can be used with other smart contracts such as the internal markets, escrow, or bonds.

In talking to many different banks and exchanges, we have learned a lot about what the law requires of those who wish to issue deposit receipts.
1. Know Your Customer

First and foremost the issuer must know every single customer. BitShares supports this by enabling both whitelists and blacklists. Rather than requiring every issuer to whitelist every customer separately, an issuer may specify a set of identity verifiers that they trust to do this job. This allows issuers to benefit from the network effect of validated users without having to do any direct identity verification themselves.

When an asset enables whitelists, no account may send or receive that asset without being on an authorized whitelist. An accounts funds can be frozen by removing them from the whitelist.
2. Asset Seizing

From time to time, an issuer may be required to seize funds as a result of a court order. While this may be unappealing to cryptocurrency purists, it is an unavoidable reality of trust-based assets. An issuer can determine whether or not they wish to revoke this privilege, but it may be a requirement in some jurisdictions.
3. Market Restriction

An issuer who offers both USD and EUR deposits may need to restrict direct trading between their USD and EUR assets to avoid being subject to foreign currency exchange regulations. Some cryptocurrency exchanges allow trading between fiat and cryptocurrencies, but not between two fiat currencies. Without this feature, many exchanges would be unable to issue their assets on the BitShares block chain.
4. Transfer Restrictions

A transfer-restricted asset allows the holders of the asset to trade it in the markets but not transfer it from person to person. Only a few cryptocurrency exchanges allow user-to-user transfer of funds outside the market, because this particular activity is often subject to a different set of money transmission regulations.

The deposit receipt example is probably one of the most important, and yet most heavily regulated, use cases of user-issued assets.
Company Shares

Corporate shares are heavily regulated by the SEC, but none of those regulations prevent them from being issued or traded on an alternative trading system. The regulations in many jurisdictions require all shares to be registered (aka held by known identities). BitShares corporate shares can be used as collateral for a bond or be used in any number of smart contracts.
Event Tickets

Event tickets are a largely unregulated use case for user-issued assets. Tickets to a school play could be issued as digital tokens that are auctioned off to the highest bidder, who would then resell them. This ensures that the ticket issuer raises as much money as possible up front, while transferring the risk of ticket sales on to speculators.

On the day of the event, the issuer can freeze all trading of the asset and then allow users to cryptographically check in.
Rewards Points

Merchants around the world offer rewards points for loyal customers. These points are accumulated to earn discounts on future purchases. Rewards systems are a prime opportunity to add value by making them available to Bitshares smart contracts.
Individual or Corporate Debt

Many businesses raise money by selling bonds. With BitShares, these bonds can be made tradeable and/or fungible, which makes them more compelling to investors.
Crowd Funding

Whether being used as a transferable coupon for a pre-sale, or doing an IPO on a small company, issuing an asset is one of the most effective means of raising money for a cause.
Digital Property

Software and music licenses can be made transferable by issuing them as a digital asset. Every copy of a program can check to make sure that the user has control of a token before running. Software implementing such a licensing scheme can remain functional even if the company that produced the license goes out of business.

Trading cards can be simulated by creating many limited issue assets. Online games can use these assets to represent game items.

How to Profit by Issuing an Asset

There are many ways to profit from issuing an asset. As the issuer you have complete control over market fees and can tune parameters such as the percent of each trade that is collected as a fee. This percentage can be bounded by a minimum and maximum fee. The combination of these three parameters give issuers great flexibility in pricing.
Fee Pools

Issuers may optionally maintain a Fee Pool. The Fee Pool is a pool of BTS and an exchange rate at which the issued asset may be converted into BTS. When a user wishes to pay a network fee with the asset, the fee pool will step in to convert the asset into BTS at the rate that the issuer has specified. This means that issuers may charge a premium every time users opt to use their asset to pay network fees rather than paying them directly with BTS.

The purpose of the fee pool is to provide a convenience to users that would like to use an asset without concerning themselves with the details of acquiring BTS. Anyone may fund the fee pool, but only the issuer may specify the exchange rate. This exchange rate is automatically set to the settlement price if the asset is collateralized by BTS.

The BitShares development team is proud to make their biggest announcement since launching one year ago: the upgrade to BitShares 2.0.

This is the next step in the evolution of BitShares, and incorporates all of the feedback and lessons learned from the BitShares stakeholders, partners, developers, marketers, and other community leaders throughout this past year of research and development.

Up until now, the core development team has closely controlled the development and direction of BitShares. With BitShares reaching maturity at version 2.0, the team is ready to remove the training wheels, and let the direction of all future development be decided completely by stakeholder vote.

To help ensure the long-term success of BitShares technology, the core development team will be reorganizing into Cryptonomex Inc., an independent blockchain development company. By utilizing a new worker voting system that will be included in BitShares 2.0, this company will continue to help develop BitShares in whatever direction is approved by its stakeholders. With this new structure, BitShares will be more robust, sustainable, and fair than ever.

Quote from: fuzzy on June 08, 2015, 12:03:09 pm

I have been putting together questions I would like to ask...and really had to remind myself why the heck I have been here in the first place.  So even though everyone here knows that I (and cryptoprometheus) can literally talk for an hour straight by ourselves asking questions and giving opinions...I am here for the community.  SOOooooo with that said:

Please feel free to post any questions regarding BitShares 2.0 issues you feel may not have been covered in the past, or questions you feel should be considered.  I might be a little more tough on which questions I pick, but I still want to leave it relatively open...especially for those who cannot attend.

Most questions raised in
https://bitsharestalk.org/index.php/topic,16382.0.html
will be answered at launch IIRC .. (at most a 24h delay I hope)

Quote from: Akado on June 05, 2015, 09:18:06 pm

Quote from: DataSecurityNode on June 05, 2015, 08:16:36 am

There is over 4000BTC in value being mined every day between bitcoin and all the alts, and we aim to capture 9% of that space in a short period with our plan and run it straight into BitShares.

You're aiming to capture ~10% of that market? Sounds pretty ambitious and I'm a little sceptic.  Att the moment, 3600 BTC are mined everyday (that's what I recall reading around, I would appreciate if someone would confirm this).

Also, only small miners will move into alt coin mining, if not, they wouldn't continue to mine bitcoin this far. Meaning I don't see a significant amount of people move from btc mining into alt mining, this situation can change however depending on btc price and mining difficulty.

That leaves us with 400 btc per day, which is already the ~10% you claim to achieve. That means you will make almost >90% of alt coin miners move into your pool? I want it to happen but I honestly don't see it happening. I know I'm doing a lot of assumptions but I just can't see where you took those numbers from.

Also, I know it's relative as I understand it's difficult to put a timespan on these things, but assuming everything goes well (you have the monetary support you need with your delegates, etc), for when do you predict this to happen?

Sure.. to clarify some points.. we are going to be supporting more algos including bitcoin. Large cloud mining operations wil point to various pools for profitability and distribution of difficulty control. Once we are established part of the plan is to seek out agreements with these operations to bring hash to our pool. They want to mine not just bitcoin but anyting else that will support more profitability... for example merge mining. That's where we will position ourselves. So long as we are reliable (bunker helloooo), consistent in our payouts, and of course profitable.. they will happily send their hash our way.

Smaller miners are mining everything they can that makes money. There is more agility in alts because they have often higher profitability at certain points than bitcoin. Same thing big or small though, be reliable, be consistent.. be transparent.. and be most of all profitable.. and they will point their hash our way. I personally know of a handful of small miners whos combined hash generate close to 80BTC a day who are willing to give our pool a try once its ready. There are still a fair number of 'small' miners. Would only take impressing those handful with what they see to make them talk to all the others.

That's all the push... then there is the pull.. we will buy up our own hashing power to boost our overall pool.. leasing, cloud mining, and maybe even some of our own hardware (gpu only.. nuts to buy any asic whatever today).

So to reach 9% would mean approaching close to 400btc a day. That's further along when we have a convergence of pool, exchange, and market. Nonetheless you can see it's quite reachable from a few vectors even earlier on in our pool only operation.

The prospect of mining REAL GOLD and REAL SILVER are going to capture a segment also that wants to move away from bitcoin and/or alts to get real assets. There are potentially new markets even who will see this as an opportunity and will want to buy hash power from us and/or perhaps one of our partner cloud mining sources to mine for real gold silver.

So am not just looking at the current market, but the new markets which we will create.

Hope that answered your questions.

Hello,
I'm a shareholder of the BitShares crypto-ecosystem and I would like to discuss the mutually beneficial relationship that is possible between BitShares and Vaultoro. There is a thread on the bitshares talk forum here: https://bitsharestalk.org/index.php/topic,16724.msg214074.html

I have CC'd fabian@bitshares.org (one of the 101 elected delegates of the BitShares ecosystem) in case of technical questions.

A PDF info-graphic for a quick overview of BitShares is available at https://pdf.yt/d/atDhSKTY2mwequs0

Could you please direct us to the relevant people to discuss the technicalities?

The BitShares ecosystem is a decentralized asset exchange that allows user to issue their own assets. These assets can be traded in seconds, and allow the user to retain sole control of the private keys. The issuer of these UIAs (User Issued Assets) collect all fees generated, and can set KYC requirements limiting who can hold it.
Vaultoro could issue such an UIA to enable your company to access BitShares users as potential customers and profit from every trade of your UIA.
Existing Vaultoro customers would benefit by being able to hold their claims to Vaultoro gold on a decentralized platform where only they hold the private keys.

Another aspect of the BitShares ecosystem that Vaultoro could benefit from are the Market Pegged Assets. These are assets that track the value of real world assets such as USD, CYN, Gold and Silver but are not subject to any counterparty risk, and are backed by over 100% collateral.

Vaultoro could allow their customers exposure to bitSilver to test the demand before committing to purchasing more bank vaults and physical silver.

Vaultoro could accept bitGold in exchange for Vaultoro Gold.
The value of Vaultoro gold can then be exposed to the BitShares decentralized market to be traded. This brings another price finding mechanism to value Vaultoro gold against assets such as bitcoin, USD, CNY, Gold and Silver.
Accepting bitGold for physical delivery of gold would open Vaultoro up to an entire new market and provide a convenient gateway from crypto to physical assets. As gold dealers are subject to far less regulation than traditional banks this gives Vaultoro a significant advantage.

We look forward to hearing from you,
Thank you