Graphene in a NutshellOn June 8th, 2015 Cryptonomex shocked the crypto-currency world by introducing its third generation of blockchain technology code-named Graphene™. Graphene averages transaction confirmations in 1 second compared to what can take Bitcoin more than an hour. And with 100,000 transactions per second compared to Bitcoin’s current 7 tps, Graphene is able to support a host of new features, like a NASDAQ-class asset exchange, with enough throughput left over to upgrade Bitcoin and most of the 600+ other altcoins to a common interoperable cryptocurrency network. All this is old news at bitshares.org (http://bitshares.org).
“But there can be good reasons why some potential partners might need independent chains. Sometimes there’s a compelling philosophical incompatibility, or differences in business model, global parameters, rule set, governance system, privacy policy or fee structure. Perhaps a different distribution is needed to capture support from essential partners, funding sources or other user demographics. And of course everyone has different perceptions of the risks and benefits of sharing a common block chain.”
If we sacrifice anonymity, we can gain adoption by large institutions that are constrained by KYC/AML regulations.
Those of us who are out to tame tyranny aren’t likely to budge on this one. Still, if your only interest is in making money, then why not offer a blockchain that The System can adopt? I’d rather have The System put all its information out on a public blockchain where smart contracts on other Sovereign block chains can watch them, trigger transactions on them, and otherwise do business quietly on the side. Why would I want to stop The System from doing that? We need to think bigger, Pinky!
Sold the bad news first!
Sold the bad news first!
Lol! :)
Yeah I dont know how people are going to react to the anti-anonymity chain.
I expect newmine to do his best to turn this into something he can attack us with.
Sharedrops are great though, I love to see announcements of BTS getting sharedrops.
It's a different chain .. and they chose to sharedrop on BTS .. don't see a point in selling you BTS on that announcement ..
Sharedrops are great though, I love to see announcements of BTS getting sharedrops.
It's a different chain .. and they chose to sharedrop on BTS .. don't see a point in selling you BTS on that announcement ..
Yeah I dont know how people are going to react to the anti-anonymity chain.
I expect newmine to do his best to turn this into something he can attack us with.
That’s a tall order and may be the crypto equivalent of Icarus flying too close to the sun.
Question: Is this sharedrop going to be coordinated with exchanges like CCEDK, Btc38, and Poloniex? Or can we only get the sharedrop if we withdraw to personal wallet?
Need to know if I will have to withdraw trading positions at some point.
Exactly - if there is gonna be a race on something like this - we might as well have a horse (and a stake) in it.
:)
if anyone wonders how much they are sharedroping you can find it here http://identabit.com/docs/IDentabitAnnouncementIDentabitCryptonomex.pdf
spoiler: 40%
The only thing I don't like is the name itself - "IDentabit" sounds a bit strange for me.like toothpaste
The only thing I don't like is the name itself - "IDentabit" sounds a bit strange for me.
What exactly does 'share drop' mean? is iDentabit going to have its own blockchain or be a UIA on ours? Or something altogether different?
The only thing I don't like is the name itself - "IDentabit" sounds a bit strange for me.
I agree.
So regarding the sharedrop, it seems that it is 10% of total supply (20% of initial released supply) to BTS. And another 10% of total supply (20% of released) to "contributing members of bitshares community", which we dont know how that will be determined or who will qualify. Also, how will it avoid sybil attacks?
The only thing I don't like is the name itself - "IDentabit" sounds a bit strange for me.like toothpaste
What exactly does 'share drop' mean? is iDentabit going to have its own blockchain or be a UIA on ours? Or something altogether different?
Its going to be its own chain, and will give us coins in the genesis block.
It needs to be its own chain because it has fundamentally different privacy/identity functions as Bitshares.
The first identity based, decentralized identity based currency
Is "IDentabit" going to be the final brand name?The only thing I don't like is the name itself - "IDentabit" sounds a bit strange for me.like toothpaste
Brownie up like 200%, haha.
Brownie up like 200%, haha.
8.2M brownies and 2.5B BTS get the same amount of sharedrop. That is ~300 BTS gets the same amount of sharedrop 1 brownie gets.
IMHO it will go way up.
It's a different chain .. and they chose to sharedrop on BTS .. don't see a point in selling you BTS on that announcement ..
Never underestimate newmine's ability to turn an announcement into a reason for peopel to sell BTS! :P
Note brownies are subject to dilution at will and supplies can change.
Note brownies are subject to dilution at will and supplies can change.
Note brownies are subject to dilution at will and supplies can change.
Note Brownies will be promised to Mumble attendees and then never delivered, then Stan will say it's fixed, and then they still won't be delivered.
Stan, do you believe this coin is capable of resisting subversion with DPOS alone? If so, why would the banks go for it? An identity based chain is only useful to these despots if they can exert control (the type of control that makes slaves of everyone else's.) Surely, they will go with Ripple because it delivers exactly what they desire.
Is identabit only viable if the banks buy the long con? If not, we're back to educating the masses and hoping for mass adoption of Bitshares.....
I love the attempts to attack this from all angles and I get where underwun is coming from....guess it's worth a try!
Note brownies are subject to dilution at will and supplies can change.
Note Brownies will be promised to Mumble attendees and then never delivered, then Stan will say it's fixed, and then they still won't be delivered.
Stan, do you believe this coin is capable of resisting subversion with DPOS alone? If so, why would the banks go for it? An identity based chain is only useful to these despots if they can exert control (the type of control that makes slaves of everyone else's.) Surely, they will go with Ripple because it delivers exactly what they desire.
Is identabit only viable if the banks buy the long con? If not, we're back to educating the masses and hoping for mass adoption of Bitshares.....
I love the attempts to attack this from all angles and I get where underwun is coming from....guess it's worth a try!
This. It's always good to see new stuff and see better projects but I'm just wondering why would banks or other big entities go for this over Ripple. Not to mention Ripple is already known and already has deals with some big banks
why would the banks go for it? Surely, they will go with Ripple because it delivers exactly what they desire.
I'm just wondering why would banks or other big entities go for this over Ripple. Not to mention Ripple is already known and already has deals with some big banks
why would the banks go for it? Surely, they will go with Ripple because it delivers exactly what they desire.
I thought that the banks desired "profits"
you know...money $$$$
What is it that you thought that they desired?I'm just wondering why would banks or other big entities go for this over Ripple. Not to mention Ripple is already known and already has deals with some big banks
Because IDentabit has a larger network of users and gives banks a percentage of the transaction costs generated by their own business. Did you forget about the referral incentives already?
DPOS is profitable not only for the chain owners but for the businesses that use it.
Ripple takes all profits. DPOS shares them with the big banks. Why? Because the blockchain tech is so brutally disintermediating (takes profits from so many middlemen) that the profits can be shared (redistributed) among more of the new players than just the miners or coin owners. DPOS shares "Satoshi's disintermediating money" with all participants.
So you thought that the banks would be happy working "for" Ripple instead of obtaining a significant "ownership" stake in this new technology. Silly you...
In a nutshell: DPOS is nore generous with it's profits than Ripple is.
and if you think that banks are more concerned with anything other than "making cash money" as their top priority, then I don't know what to tell you. Ever hear the phrase "follow the money"?
How soon we forget what motivates ($$$)
I thought they desired systemic control.... currency control isn't the only means. You make a very interesting point about the difference between ripple & Bitshares. Also, there will be those who want to profit and will betray the beast. There may even be some good in them.....though I've not felt it's presence!why would the banks go for it? Surely, they will go with Ripple because it delivers exactly what they desire.
I thought that the banks desired "profits"
you know...money $$$$
What is it that you thought that they desired?
Is "IDentabit" going to be the final brand name?The only thing I don't like is the name itself - "IDentabit" sounds a bit strange for me.like toothpaste
Does this mean that IDentabit sharedrops will not be anonymous? If that's the case, wouldn't the sharedrop itself disclose the identities of each BTS account?
Stan, do you believe this coin is capable of resisting subversion with DPOS alone? If so, why would the banks go for it? An identity based chain is only useful to these despots if they can exert control (the type of control that makes slaves of everyone else's.) Surely, they will go with Ripple because it delivers exactly what they desire.
Is identabit only viable if the banks buy the long con? If not, we're back to educating the masses and hoping for mass adoption of Bitshares.....
I love the attempts to attack this from all angles and I get where underwun is coming from....guess it's worth a try!
This. It's always good to see new stuff and see better projects but I'm just wondering why would banks or other big entities go for this over Ripple. Not to mention Ripple is already known and already has deals with some big banks
if anyone wonders how much they are sharedroping you can find it here http://identabit.com/docs/IDentabitAnnouncementIDentabitCryptonomex.pdf
spoiler: 40%
+5%
ANNOUNCEMENT 8 - TL;DR:That’s a tall order and may be the crypto equivalent of Icarus flying too close to the sun.
However, there are already several groups positioning themselves to be an IDentabit competitor, so I would much rather gamble on the winner of this game include the bitshares community and our ideologues vs. their "pragmatists".
This also makes it so much important for something like bitshares (with fully functional privacy and somewhat attainable anonymity) to succeed parallel to allow for and function as a lifeboat when the worst does eventually happen.
https://www.youtube.com/watch?v=QR3fD5YyN3g
:o
I thought that the banks desired "profits"
I thought they desired systemic control.... currency control isn't the only means. You make a very interesting point about the difference between ripple & Bitshares. Also, there will be those who want to profit and will betray the beast. There may even be some good in them.....though I've not felt it's presence!
The only thing I don't like is the name itself - "IDentabit" sounds a bit strange for me.like toothpaste
Anonymous dentistry has arrived! Maintaining personal privacy and a great smile is finally possible with IDentabit!
'We couldn't even identify him from his dental records'
I get that ID = IdentificationI'm sorry erlich, i don't think I made myself clear. I believe that the current system is utterly corrupt from the top down. In trying to get to grips with the implications of underwun's proposal, I'm trying to comprehend how gaining network effect ahead of the bankers can be achieved whilst preserving core attributes of Bitshares...consensus defined constitutions that ultimately decentralise power. I'm only interested in the ultimate goal....a civilized world with integrity, peace and innovation at its heart.
bit=bitcoin
but what is the "enta"????I thought that the banks desired "profits"
I thought they desired systemic control.... currency control isn't the only means. You make a very interesting point about the difference between ripple & Bitshares. Also, there will be those who want to profit and will betray the beast. There may even be some good in them.....though I've not felt it's presence!
The people at the apex of the banking pyramid desire control, but the other 99 % of the bankers are paid according to how much profits they generate. Do you know what the "entry level" banking position is?
Teller?
no
Salesman!
All new tellers are fired if they cannot sell. All positions are eliminated if they cannot hit their financial targets.
The politicians who accept bitcoins:
are they the top dogs (obama?)
no, they are the 99%
Will Baron Von Rothschild adopt IDentalbit? hell no, but will his minions defect when they realize that they can keep their jobs for another few quarters by driving customers to DPOS?
In other words, how many lower level bankers do you think are truly willing to take a bullet (give up free money, fame, sex, blow, & riches to take a financial hit for daddy Warbucks?
If you believe your logic, then you think that there is still honor among thieves, and that's OK, but I know thieves, and on average, they are more selfish rather than less as you believe. But that's ok, you can trust thieves, but I will not, and I will plan my investment strategy under the assumption that bankers would rather keep their job than ensure that their bosses boss gets his next million dollar bonus, but, hey, that's just me.
Bankers may be the most honorable sacrificial altruistic and noble people willing to die for their collective beliefs that central control must be strictly and exclusively adopted.
But I think that they are just as cowardly and afraid of real free market competition as their bosses, and will act in their own self interest as those whom they serve.
So, no, I still don't believe that all bankers will unite to take a bullet for their bosses.
http://247wallst.com/banking-finance/2015/05/29/a-new-wave-of-bank-layoffs-with-more-to-come/
You might be the honorable type of person to accept the layoff graciously so that your boss can afford his third vacation home, but I'm the type who would rather embrace new technology to hit my profit target to keep my family fed for another year. We are just different people that's all.
identitycoin has the word tity in it so it was inappropriate
so IDentabit was used because it has both "t" and "a"
IDcoin?
IDbit?
still can't figure out the significance of the "enta"
identitycoin has the word tity in it so it was inappropriate
so IDentabit was used because it has both "t" and "a"
IDcoin?
IDbit?
still can't figure out the significance of the "enta"
I too don't understand the "enta" part but I guess they had their reasons.
Only problem I see with the name is it sounds too long and isn't that catchy. I would prefer something more simple like IDblocks or something that sounds better and seems more catchy. This because I don't see the necessity of needing to associate with bitcoin, i don't agree with the part where it should be similar but different. It only needs to be unique imo.
identitycoin has the word tity in it so it was inappropriate
so IDentabit was used because it has both "t" and "a"
IDcoin?
IDbit?
still can't figure out the significance of the "enta"
I too don't understand the "enta" part but I guess they had their reasons.
Only problem I see with the name is it sounds too long and isn't that catchy. I would prefer something more simple like IDblocks or something that sounds better and seems more catchy. This because I don't see the necessity of needing to associate with bitcoin, i don't agree with the part where it should be similar but different. It only needs to be unique imo.
As Underwood explains here: https://docs.google.com/document/d/1zDPgdB9Ftm6TOOTPhk2ZzFQLMP2chYRXZsDo6nGWPEE/edit#heading=h.uiwot0p3y1ws
This is ultimately foundation building for Remitabit
So Identabit was named to make that future brand migration easier.
Meanwhile, Identity is the key brand recognition point.
if we capitalise the D then we would be seen as a dental implement, thank you but the good thing, is it makes sure people spell IDentabit with an A so it works for that reason.
The people at the apex of the banking pyramid desire control, but the other 99 % of the bankers are paid according to how much profits they generate.I believe that the current system is utterly corrupt from the top down. In trying to get to grips with the implications of underwun's proposal, I'm trying to comprehend how gaining network effect ahead of the bankers can be achieved whilst preserving core attributes of Bitshares...consensus defined constitutions that ultimately decentralise power.
the banks will end up sacrificing the control they have now.
identitycoin has the word tity in it so it was inappropriate
so IDentabit was used because it has both "t" and "a"
IDcoin?
IDbit?
still can't figure out the significance of the "enta"
I too don't understand the "enta" part but I guess they had their reasons.
Only problem I see with the name is it sounds too long and isn't that catchy. I would prefer something more simple like IDblocks or something that sounds better and seems more catchy. This because I don't see the necessity of needing to associate with bitcoin, i don't agree with the part where it should be similar but different. It only needs to be unique imo.
The big banks must either publicly fight a blockchain that champions absolute transparency and strict regulatory adherance, or they join in the enevitable evolution of humanity by adopting the modern technology that Identabit made easy for Grandma to use.
You can't fight the light!
And this coin promises to be the most absolutely transparent of all time!
Identabit is not intended as a Ripple competitor.
But yeah, the name.
Transaction and privacy comes as a consequence of IDentabit's blockchain being closed to public and regulatory scrutiny.Could you expand on that? How are you going to make the blockchain unavailable to public scrutiny? Is it technically possible?
Yes, the name is not very catchy. Think about all the non English speaking countries. Something short and simple.
I like how on the identabit.com website it says that it will automatically calculate my annual taxes.
How about "Taxcoin?"
Taxcoin - for those who hate to do their taxes!
plot twist:
What is the holy grail of a basic income? It's a decentralized social network with verifiable identities!
pls don't go with the IMPACT font as logo font ... if you want i woukld love to send an alternative design .. if any possible ... just said :)
pls don't go with the IMPACT font as logo font ... if you want i woukld love to send an alternative design .. if any possible ... just said :)
Totally Agree. The logo sucks to be honest. I'm sure CASS can come up with something in a heartbeat ..
Has there been any word as to around when the snapshot is expected to take place?
^^ THIS! but mainly because of what I stated in my previous post.It clearly IS competing against BTS as a sharedrop target and against BTS market value.
Actually there is one argument AGAINST using BTS as sharedrop target no-one brought up yet:
If you can recall PTS prices, what exactly happened after 28th of february last year?
BTS(X) market cap was effectively taken out of the PTS market cap at the time of the snapshot and the priced tanked big time.
Because BTS are used as collateral, this may result in ... you guess it .. a black swan (of course only if the airdropping market cap is large vs. BTS's market cap)
Also, IMHO, the goal of a snapshot is NOT to drive the price up (because it will go down again eventually) .... but to honor a community.
In my opinion, snapshots nowadays only make sense if you do them without further notice .. that way you
* do not drive price up
* prevent a price tanking at the time of the snapshot
* while you are still able to drop on your valuable demographic
Just my thoughts ..
I guess having the possibility of a snapshot that could occur at any time would encourage folks not to leave their BTS on some external exchange and not to sell BTS even temporarily just to fool around promiscuously with other coins...
Has there been any word as to around when the snapshot is expected to take place?
It could be announced with some advance warning like we have done in the past, but we really like xeroc's ideas about announcing it at some point AFTER it has occurred. This would minimize any "black swan" impact to the chain from people pumping then dumping around a pre-announced snapshot date. It would also have the effect of encouraging people to HODL their shares for a long-term probability of a snapshot, not just buying in just in time to collect. This rewards HODLers which is not a bad idea.
Here's what xeroc recently posted:^^ THIS! but mainly because of what I stated in my previous post.It clearly IS competing against BTS as a sharedrop target and against BTS market value.
Actually there is one argument AGAINST using BTS as sharedrop target no-one brought up yet:
If you can recall PTS prices, what exactly happened after 28th of february last year?
BTS(X) market cap was effectively taken out of the PTS market cap at the time of the snapshot and the priced tanked big time.
Because BTS are used as collateral, this may result in ... you guess it .. a black swan (of course only if the airdropping market cap is large vs. BTS's market cap)
Also, IMHO, the goal of a snapshot is NOT to drive the price up (because it will go down again eventually) .... but to honor a community.
In my opinion, snapshots nowadays only make sense if you do them without further notice .. that way you
* do not drive price up
* prevent a price tanking at the time of the snapshot
* while you are still able to drop on your valuable demographic
Just my thoughts ..
I guess having the possibility of a snapshot that could occur at any time would encourage folks not to leave their BTS on some external exchange and not to sell BTS even temporarily just to fool around promiscuously with other coins...
Has there been any word as to around when the snapshot is expected to take place?
It could be announced with some advance warning like we have done in the past, but we really like xeroc's ideas about announcing it at some point AFTER it has occurred. This would minimize any "black swan" impact to the chain from people pumping then dumping around a pre-announced snapshot date. It would also have the effect of encouraging people to HODL their shares for a long-term probability of a snapshot, not just buying in just in time to collect. This rewards HODLers which is not a bad idea.
Here's what xeroc recently posted:^^ THIS! but mainly because of what I stated in my previous post.It clearly IS competing against BTS as a sharedrop target and against BTS market value.
Actually there is one argument AGAINST using BTS as sharedrop target no-one brought up yet:
If you can recall PTS prices, what exactly happened after 28th of february last year?
BTS(X) market cap was effectively taken out of the PTS market cap at the time of the snapshot and the priced tanked big time.
Because BTS are used as collateral, this may result in ... you guess it .. a black swan (of course only if the airdropping market cap is large vs. BTS's market cap)
Also, IMHO, the goal of a snapshot is NOT to drive the price up (because it will go down again eventually) .... but to honor a community.
In my opinion, snapshots nowadays only make sense if you do them without further notice .. that way you
* do not drive price up
* prevent a price tanking at the time of the snapshot
* while you are still able to drop on your valuable demographic
Just my thoughts ..
I guess having the possibility of a snapshot that could occur at any time would encourage folks not to leave their BTS on some external exchange and not to sell BTS even temporarily just to fool around promiscuously with other coins...
Has there been any word as to around when the snapshot is expected to take place?
It could be announced with some advance warning like we have done in the past, but we really like xeroc's ideas about announcing it at some point AFTER it has occurred. This would minimize any "black swan" impact to the chain from people pumping then dumping around a pre-announced snapshot date. It would also have the effect of encouraging people to HODL their shares for a long-term probability of a snapshot, not just buying in just in time to collect. This rewards HODLers which is not a bad idea.
Here's what xeroc recently posted:^^ THIS! but mainly because of what I stated in my previous post.It clearly IS competing against BTS as a sharedrop target and against BTS market value.
Actually there is one argument AGAINST using BTS as sharedrop target no-one brought up yet:
If you can recall PTS prices, what exactly happened after 28th of february last year?
BTS(X) market cap was effectively taken out of the PTS market cap at the time of the snapshot and the priced tanked big time.
Because BTS are used as collateral, this may result in ... you guess it .. a black swan (of course only if the airdropping market cap is large vs. BTS's market cap)
Also, IMHO, the goal of a snapshot is NOT to drive the price up (because it will go down again eventually) .... but to honor a community.
In my opinion, snapshots nowadays only make sense if you do them without further notice .. that way you
* do not drive price up
* prevent a price tanking at the time of the snapshot
* while you are still able to drop on your valuable demographic
Just my thoughts ..
I guess having the possibility of a snapshot that could occur at any time would encourage folks not to leave their BTS on some external exchange and not to sell BTS even temporarily just to fool around promiscuously with other coins...
I have to agree with all this logic, and I hope this is the direction things go. Here's to hoping the snapshot is 2:30 pm EST yesterday, to reward those who had enough faith in Brownies to hodl before realizing just how precious BM's gift was. 8)
The premise of IDentabit is to anticipate where the regulators will wind up and get there first with a solution that gives them what they need to do their “legitimate” jobs while protecting the public from overreaching abuses. That’s a tall order and may be the crypto equivalent of Icarus flying too close to the sun. Underwood shuns the accepted strategy of avoiding the beast, and boldly walks into its lair with a leash.
Has there been any word as to around when the snapshot is expected to take place?
It could be announced with some advance warning like we have done in the past, but we really like xeroc's ideas about announcing it at some point AFTER it has occurred. This would minimize any "black swan" impact to the chain from people pumping then dumping around a pre-announced snapshot date. It would also have the effect of encouraging people to HODL their shares for a long-term probability of a snapshot, not just buying in just in time to collect. This rewards HODLers which is not a bad idea.
Here's what xeroc recently posted:^^ THIS! but mainly because of what I stated in my previous post.It clearly IS competing against BTS as a sharedrop target and against BTS market value.
Actually there is one argument AGAINST using BTS as sharedrop target no-one brought up yet:
If you can recall PTS prices, what exactly happened after 28th of february last year?
BTS(X) market cap was effectively taken out of the PTS market cap at the time of the snapshot and the priced tanked big time.
Because BTS are used as collateral, this may result in ... you guess it .. a black swan (of course only if the airdropping market cap is large vs. BTS's market cap)
Also, IMHO, the goal of a snapshot is NOT to drive the price up (because it will go down again eventually) .... but to honor a community.
In my opinion, snapshots nowadays only make sense if you do them without further notice .. that way you
* do not drive price up
* prevent a price tanking at the time of the snapshot
* while you are still able to drop on your valuable demographic
Just my thoughts ..
I guess having the possibility of a snapshot that could occur at any time would encourage folks not to leave their BTS on some external exchange and not to sell BTS even temporarily just to fool around promiscuously with other coins...
I have to agree with all this logic, and I hope this is the direction things go. Here's to hoping the snapshot is 2:30 pm EST yesterday, to reward those who had enough faith in Brownies to hodl before realizing just how precious BM's gift was. 8)
Has there been any word as to around when the snapshot is expected to take place?
It could be announced with some advance warning like we have done in the past, but we really like xeroc's ideas about announcing it at some point AFTER it has occurred. This would minimize any "black swan" impact to the chain from people pumping then dumping around a pre-announced snapshot date. It would also have the effect of encouraging people to HODL their shares for a long-term probability of a snapshot, not just buying in just in time to collect. This rewards HODLers which is not a bad idea.
Here's what xeroc recently posted:^^ THIS! but mainly because of what I stated in my previous post.It clearly IS competing against BTS as a sharedrop target and against BTS market value.
Actually there is one argument AGAINST using BTS as sharedrop target no-one brought up yet:
If you can recall PTS prices, what exactly happened after 28th of february last year?
BTS(X) market cap was effectively taken out of the PTS market cap at the time of the snapshot and the priced tanked big time.
Because BTS are used as collateral, this may result in ... you guess it .. a black swan (of course only if the airdropping market cap is large vs. BTS's market cap)
Also, IMHO, the goal of a snapshot is NOT to drive the price up (because it will go down again eventually) .... but to honor a community.
In my opinion, snapshots nowadays only make sense if you do them without further notice .. that way you
* do not drive price up
* prevent a price tanking at the time of the snapshot
* while you are still able to drop on your valuable demographic
Just my thoughts ..
I guess having the possibility of a snapshot that could occur at any time would encourage folks not to leave their BTS on some external exchange and not to sell BTS even temporarily just to fool around promiscuously with other coins...
Has there been any word as to around when the snapshot is expected to take place?
It could be announced with some advance warning like we have done in the past, but we really like xeroc's ideas about announcing it at some point AFTER it has occurred. This would minimize any "black swan" impact to the chain from people pumping then dumping around a pre-announced snapshot date. It would also have the effect of encouraging people to HODL their shares for a long-term probability of a snapshot, not just buying in just in time to collect. This rewards HODLers which is not a bad idea.
Here's what xeroc recently posted:^^ THIS! but mainly because of what I stated in my previous post.It clearly IS competing against BTS as a sharedrop target and against BTS market value.
Actually there is one argument AGAINST using BTS as sharedrop target no-one brought up yet:
If you can recall PTS prices, what exactly happened after 28th of february last year?
BTS(X) market cap was effectively taken out of the PTS market cap at the time of the snapshot and the priced tanked big time.
Because BTS are used as collateral, this may result in ... you guess it .. a black swan (of course only if the airdropping market cap is large vs. BTS's market cap)
Also, IMHO, the goal of a snapshot is NOT to drive the price up (because it will go down again eventually) .... but to honor a community.
In my opinion, snapshots nowadays only make sense if you do them without further notice .. that way you
* do not drive price up
* prevent a price tanking at the time of the snapshot
* while you are still able to drop on your valuable demographic
Just my thoughts ..
I guess having the possibility of a snapshot that could occur at any time would encourage folks not to leave their BTS on some external exchange and not to sell BTS even temporarily just to fool around promiscuously with other coins...
what the difference between keyid& identabit?
This was an A B S O L U T E L Y awesome OP, bravo Stan!!!
Talk about a great experiment! My ultimate hope is that the need for AML / KYC compliance "features" will ultimately be removed from BitShares b/c everyone that wants to use them would rather go where the action is (Identibit).