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Messages - Permie

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32
General Discussion / Re: New to bitshares code base
« on: May 23, 2017, 08:49:17 am »
Thanks for offering your skills to the ecosystem!

I'm sure someone else will point you in the right direction :)

33
All we can do is hope graphene is still relevant by that time.

All we can do is hope graphene is still relevant by that time.
Plasma OS will NOT REPLACE graphene .. it will EXTEND it.
Is plasma EOS?

34
Technical Support / Re: Wallet Recovery Service (3rd Party)
« on: May 23, 2017, 08:43:13 am »
paperwallet.bitshares.eu
Is there a link to instructions on how to use it?

Why does it spit out a public and private key?

I thought you couldn't sent to a public key on BTS 2.
Do you just send funds to the account name?
How does the account know to send it to a paper wallet and not just into the account?

35
Technical Support / Re: Migrate from version 0.4.24.1
« on: May 22, 2017, 09:01:59 pm »
If you can create a backup then you have the correct password, as far as I'm aware

Do more research to make sure you're doing it right (don't just follow these steps blindly):

Make a backup file of you wallet and save it, write down the password you can remember to make sure you don't forget it

You'll then probably have to import this wallet into v0.9.3, torrent the full 0.9.3 blockchain, and then export the wallet once the balance has updated by scanning the blockchain.
I think this exported file is a .json.

You can then use openledger to import your wallet to BTS 2.0, by using the "claim balances" feature once you have sucessfully imported and logged into your OpenLedger wallet

37
Technical Support / Re: Wallet Recovery Service (3rd Party)
« on: May 22, 2017, 04:34:02 pm »

1) Download paperwallet https://github.com/xeroc/graphene-paperwallet/releases
This link is now dead :(

Is there still an offline-capable BTS 2 paper wallet tool?

38
General Discussion / Re: EOS livestream
« on: May 22, 2017, 02:43:13 pm »
 +5%

39
General Discussion / Re: New to BitShares
« on: May 22, 2017, 02:10:28 pm »
Thank you for the clear explanations. I was definitely conflating smartcoins and UIAs. I think the fact that the markets tab in the BitShares UI doesn't separate them (there are UIA markets under the bitUSD tab etc) or meaningfully denote them may have contributed to that confusion.

I am correct that trading in smartcoin markets seems to incur less counter party risk than trying to trade the cryptocurrencies via UIAs?

Yes. Less risk. The only Smartcoin risk is the risk of a "Black Swan" event (an entirely unpredictable catastrophe)  and that the value of bts, the value of collateral backing all smartcoins, suddenly decreased in value by 75% or more within a very short period of time.
So quickly that the blockchain would not be able to margin-call all of the shorters in time.

Quote
Is being a short seller really required for smartcoin creation? Couldn't I just as easily lock up BitShares to go long say bitGold or bitOil?
No, Bitshares does not allow you to lock up collateral to go long.  Being 'long' bitUSD is merely purchasing bitUSD from the market and holding it

40
A bigger source of value is smartcoins.
You need BTS to issue them.
Demand for smartcoins should result in demand for BTS.

Something tells me that when private transactions finally arrive, sprinkled with some good marketing / raising awareness from us, will result in much higher demand for smartcoins.

All other crypto-communities would benefit from storing profits in bitUSD and other smartcoins.
Wow
How many traders are out there who would take profits in USD if they didn't have to give ID

41
Did you provide a bitcoin address to OpenLedger?
Are you saying that this information is encrypted?

If it's not encrypted then a look at this bitcoin address on a blockchain exlporer would tell anyone who wanted to know whether or not it received a 5btc incoming transaction, after the exact time you initiated the transaction by moving OPEN.btc on the BitShares exchange.
You may also need to prove that you own that bitcoin public address by "signing a message". Proof that you control the bitcoin address without needing to send funds to anyone

The bitcoin blockchain has been under quite a heavy load recently. Long waiting times for confirmations. Maybe yours is waiting in a very long line?
Exchanges are also likely to be paying the "standard" tx-fee, while many impatient other parties are paying high-fees to be included into the block, to jump the queue

42
General Discussion / Re: New to BitShares
« on: May 22, 2017, 11:01:57 am »
http://cryptofresh.com/assets

All SmartCoins and UIAS are listed.
All of this data is scraped from the BitShares blockchain itself.
All data is transpartent and open-source.
There is no insider-trading, and High Frequency Trading bots have no more advantage than an individual trader.
Everyone receives data about the market at the same instant.

43
General Discussion / Re: New to BitShares
« on: May 22, 2017, 10:59:18 am »
Welcome!
Thank you for introducing yourself. I hope you become part of the community :)

Now for a few questions (feel free to tell me to go bugger off and read the docs):

The DEX seems to eliminate counter party risk for trades, but it seems to me that most of the smartcoins being issued by a gateway mean that risk is reintroduced if I ever want to take value out of the platform (say to buy something). I understand that the contracts that back the coins don't rely on a counter party to peg the value, but what happens if the gateway runs off with the underlying peg coins? How would I then turn my OPEN.x or TRADE.X into X?
OPEN.X are what's known as 'UIA's or User Issued Assets.
These assets are backed/guarenteed by a third party. OPEN LEDGER who issue OPEN.X make every effort to "self insure" and protect the assets backing their tokens.
They use multi-sig wallets, employ staff and do whatever it takes to convince the market that they are solvent and secure.
It is up to the individual investor to decide if any UIA meets their demands for security.

A Smart Coin is an asset backed by the BitShares blockchain. SmartCoins come into existance as the result of a short-trader locking up collateral (in the form of bts) to the blockchain. In return, the blockchain lends the trader the corresponding amount of bitUSD/bitCNY/bitX....

The price feeds for SmartCoins (so that the blockchain knows how much to lend with the collateral provided) are provided by BitShares Witnesses.
Of all the prices quoted by Witnesses for bitUSD (for example) the median-average result is taken.
This is to prevent Witness manipulation. If the mean-average was taken, then a malicious Witness could publish a slightly-too-high price, and skew the result in his favour. This cannot happen with median-average.

What happens if the value of BitShares goes so low (or a specific coin so high) that there is no longer a way to satisfy the smart contract that keeps the peg?

Can someone give me the TLDR on witnesses?

Same for forced settlements?
The peg is not static.
The price feed given for SmartCoins is not binding. The price feed provides the forced settlement price.

SmartCoins can trade anywhere above the price feed, but are heavily incentivized not to trade below the price feed. If a SmartCoin is being offered for sale at the pricefeed minus 5%, then a rational trader will buy up the asset for that price, and then immediately 'force settle'.

This means that the blockchain will pay the trader the price-feed value of the SmartCoin that he is re-selling.
The blockchain funds this sale by closing the position of the lowest-collateralised short position on the SmartCoin in question.
Forced Settlement takes 24hrs to execute, but the force-settler will receive the full amount. 24hr time lag is to prevent manipulation and front-running.

Force-Settlement ensures that short-positions monitor and maintain the minimum level of collateral required by the blockchain to trade.
If the shorters get lazy and the market moves away from them, they risk the blockchain selling their collateral to repay their loan.

44
Technical Support / Re: BTS showing as claimed when importing
« on: May 22, 2017, 10:42:10 am »
@fluxer555
@xeroc

Can you help?

45
Technical Support / Re: Bitshares block explorer
« on: May 21, 2017, 09:13:48 am »
I, too, can not find my transaction on cryptofresh.
I sent the BTS from the exchange to my wallet:
"Complete: Error   BTS   135630.42591800
2017-05-19 14:43:59
Address: serg-k"
I was wrong in the address. This address was not registered at that time. Noticing this, I registered this address, but BTS did not receive it.
From the balance, the money was written off, but I did not get it.
I wrote a Poloniex tech support right away, but they did not answer for two days.

Do you have your money now?
Or did you lose it?

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