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Messages - abit

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3031
@alt could you share what workers would you support? Meaning, which workers you think we need. That are indeed useful and not unnecessary? Any feature or something else in particular?

Sorry for asking here but alt doesn't have a proxy thread on the proxy sub

alt seems to reject all existing workers:
http://cryptofresh.com/u/baozi

I wanted to know if he would support something else, exactly because of that. What potential workers could be on his priority list. I'm talking about possible workers that could be created for a specific task, not necessarily the ones that already exist.

But I have to agree with alt on one thing, we need a budget and control spendings. Just because we have some money it doesn't mean we can spend it on stuff just because they sound like good ideas. We need a budget, see potential consequences in the future and have a list of the main stuff people and the network needs. And then, from that, we prioritize according to our budget and what's needed the most.

Then once that task is done, we do it all over again to re-evaluate our position and see if we can do more stuff next, if we should wait a few months, go for alternatives, etc.

We need a plan. We don't have one.

It's all fine now, giving a few touches to the network, etc, but then when the time comes to implement big stuff (ie bond markets, other new ideas that might appear, urgent fixes, etc) that require more spending but are really needed, we won't have the money. Or we might have but will be restricting ourselves in someway, etc.

We can't just keep popping worker proposals and approve them, even though they're positive, without seeing the bigger picture and the effect those will have in the future and what limitations those will create.

Then when the time comes we won't be able to do what's really needed/urgent.
If we don't have enough qualify developers, when the time comes, we'll have no one can help us. If we ask them to work for others to make a live now, when we need them to come back, why do you think they will? Why do you think you're so important when you need them?

Not everyone are entrepreneurs. Not everyone have the ability/interest to talk to VCs.

3032

another way is I wish promise pay you  with the future income, if you are not lack of money for basic life now.
BTS paid from the reserve pool IS the future income indeed. All fees go to the reserve pool currently.

If we can gain 400K BTS per day from fees, there won't be "dilution".

On contrast, balance on committee-account is "operating capital", not income.

3033
That is a reasonable price for Bitshares to remain competitive.

Too bad there weren't any Chinese devs willing to step up to bat ?  What are the issues?

This is all a side effect of closing the source code off, getting away from any talk of a 'toolkit', etc. Hiring any developer now will require a learning curve, so the ~$70 an hour is likely a good deal ...

I see some guys seeming to get pissed off. I wouldn't let pride or jealousy force your decisions.

PS BitShares is always good for entertainment.
I'm a Chinese developer. I've been doing some maintenance work for a while.. I do want to get paid as well..

3034
General Discussion / Re: Theory and Late Night Musings on Smartcoins
« on: February 03, 2016, 12:05:17 pm »
In the end, we don't need smart coins, we don't need BitShares platform, right? If fiat is good enough..

External money means nothing if no one wants to sell her stake to external. 4M $ won't be able to buy 1 billion BTS @0.004$ per BTS. No enough market depth on the selling side.

On the other hand, if you have enough money to maintain BTS price at a certain level, your position will never get margin called. Say, if you own half of all the tokens when market cap is 10M$, and you have another 5M$ fiat, you can maintain a buy wall at current price, so value of the half won't go lower. It's even easier to maintain a buy wall at a lower price for example at price when market cap is 7M$, in this case you just need 3.5M$ fiat.

If Bob own the whole system, how much is his tokens? No trade, no price.

3035
General Discussion / Re: [Public Testnet] testnet.bitshares.eu
« on: February 03, 2016, 11:11:20 am »
It just came to my attention that I made an error when deploying the last wallet wgich makes the testnet connect to the real net if you have a new wallet
That's too bad if a test network witness_node connect to real network. Fixed?

3036
General Discussion / Re: Payout Referral Commisions in Smartcoins
« on: February 03, 2016, 10:51:20 am »
Bump!

BTW can we create an object/flag that determines what asset to pay out the referral?  The reason I ask is if we create a Privatized Smartcoin and want to give users that Smartcoin as the payout that would be the only way we can make the most use of the referral program.  We have a simple USD wallet and #1) people won't even see their BTS #2) they may get the Public Smartcoin USD which the wallet won't display.

 
Sounds like some kind of white-listing. Account can set a list of acceptable assets, so other assets wouldn't enter that account. Or say, payment will fail if the account doesn't accept that 'currency'. If I can implement it, will you fund the development, or I need to apply for another worker?

Another related issue: for example, cancelled market orders will give the user some BTS. I have an idea that BTS can be displayed as "special points" in your wallet, so your user can spend them in some way, you can make a UI to let user select "pay in smartcoin" or "pay in special points", it's all allowed in the back end. You need to have enough fee pool balance so the user can pay directly in your smart coin.

And maybe there are other ways to achieve your goal.

3037
Technical Support / Re: Blocks Missed
« on: February 03, 2016, 10:31:17 am »
Historical block missing data due to network bugs. Twice in Feb.

3038
General Discussion / Re: Is this a record for BitShares? $25k volume!
« on: February 03, 2016, 10:27:45 am »
Is there a way to tell how much income the blockchain generated from this?

I guess you could check the charts on cryptofresh and do something like
number of transfers * transfer fees + number of orders created * order creation fees * 2 (since both buy and sell sides must do one)
number of transfers * transfer fees + number of orders filled* order creation fees * (1~2)

Only filled orders pay fees (10BTS*20%). Cancelled orders pay 0.1 BTS *20% only. Partially filled orders pay creation fee once.

3039
General Discussion / Re: [Public Testnet] testnet.bitshares.eu
« on: February 03, 2016, 01:25:38 am »
Check p2p.log.
Looks like you haven't connected to other nodes.

3040
General Discussion / Re: [Public Testnet] testnet.bitshares.eu
« on: February 03, 2016, 01:11:41 am »
* You need to either set signing key and witness id in config.ini, or add them as parameters of startup command. See http://docs.bitshares.eu/testnet/private-testnet.html
I think I have already did that:



* Don't use "--enable-stale-production"

Ok, now I have something like that. Is it downloading old blocks or what exactly is happening?


Connect a CLI wallet to it and you can check the status by command "info".

3041
General Discussion / Re: Radical ideas for liquidity
« on: February 03, 2016, 12:54:35 am »
Also demand for Nubits explodes when BTC is falling, which is expected so I don't think their volume is fake.
In this way they'll likely loss money..
When BTC is falling, people want to sell BTC for NB, so Nu's bots will have to buy (BTC) high.
When BTC is raising, people want to sell NB for BTC, so Nu's bots will have to sell (BTC) low.
I guess there is something missing?

3042
General Discussion / Re: [Public Testnet] testnet.bitshares.eu
« on: February 03, 2016, 12:46:47 am »
OK, me witness appear in among witnesses:



however it seems, that it is not producing any blocks.



any suggestions? Previously I had a lot of information in my logs, that other witnesses produced new block. Right now my witness seems to be stuck :(

* Don't use "--enable-stale-production"
* You need to either set signing key and witness id in config.ini, or add them as parameters of startup command. See http://docs.bitshares.eu/testnet/private-testnet.html

3043
The code is doing the "right" thing in this way:
"an annual subscriber will earn up to 50% cash back and qualify for up to 50% of the fees paid by anyone they refer", but the real number depends on the registrar who registered her (50% if referrer_rewards_percentage set to 100%, 0% if referrer_rewards_percentage set to 0%).

3044
General Discussion / Re: Radical ideas for liquidity
« on: February 02, 2016, 05:46:45 pm »

Curiously can anyone give references to these sort of things working in the past?  I understand BitShares is a new product in many many ways so it is hard to find an example that fits very well, but I would think there should be something out there.

I wonder if the better solution could be more within education. I don't think education is a great idea, but I question whether paying liquidity providers will be enough to jumpstart the system ... and if it isn't (which seems likely) you have now spent your war chest.

I only know about Nubits and they "print" more nubits out of thin air(this is very bad imo) in order to pay the liquidity providers with the 8% Coihoarder mentioned above, it seems to work until now but there is another problem with them, every time new suckers buy nubits, a large percentage of the suckers money are considered "Profits" and are used to pump their nushares  ponzishares. IF there is going to be a huge supply of nubits that threatens the peg, then and only then they will inflate their ponzishares supply (because every week they use lots of the sucker's BTC's as "profits"), despite all that it seems that they have a very good peg so far. If it works with them why not for us? 
Imo those "Profits" should be "Revenues". What will happen if those bought nubits be sold back?
Quote

Worst case scenario we will have to abord if we see that it does't  work, I think we will loose more time and energy than bts 

Disclaimer
I'm completly biased against nubits.

3045
Can we have some numbers? How many fees were collected in the past [week, month, since 2.0], how much was spent on witnesses + workers in the same time?

Currently the network need to pay out 43k BTS to witnesses and 80k BTS to workers every day, but average daily income is only 8k BTS or so, among it about 900 come from transfers, 6k come from account upgrades. If we decrease transfer fee for LTM from 6 BTS to 1 BTS, it means we need at least 6x volume to keep same revenue. If we decrease account upgrade fee to 0, it means we need 54x transfer volume to keep same revenue.

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