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Messages - Agent86

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256
General Discussion / Re: Stolen fund alert system?
« on: July 10, 2014, 03:39:17 pm »
Maybe not such a crazy idea...
Someone in NXT community "klee" just lost over $1,000,000 having their NXT stolen.  There have been a few big recent horror stories in that community with scams etc. https://nxtforum.org/general-discussion/price-speculation/5440/

We have a duty to do whatever we can to protect our shareholders and not make the BitShares story riddled with heartbreak and loss.  Not everyone that we reach will be super knowledgeable and security conscious.  I think we are pretty far ahead of any competition and there is a risk in pushing things out too fast.  We don't really need to release a buggy or dangerous code just to rush it.

I would probably support upgrading PTS to DPOS before releasing BTSX.  It could give us a feel for DPOS without worrying about complicated hard forks and potential issues upgrading to Polymorphic BitAssets.

Maybe with DACs that have the ability of self-governance we could do more if disasters strike.

257
General Discussion / Re: BTSX Sales Brochure
« on: July 10, 2014, 01:34:44 am »
Quote from: solaaire on July 10, 2014, 01:31:10 am
i see your point, however i think the word 'funding' is ambiguous enough to encompass all kinds of capital raising activities - donations included
You're probably right, I initially had it as "seed capital"...  I doubt it's a big deal one way or another and I can change it.

258
General Discussion / Re: BTSX Sales Brochure
« on: July 10, 2014, 01:28:51 am »
Quote from: solaaire on July 10, 2014, 01:22:06 am
its concise and easy to follow

my one suggestion might be changing the word 'donation' to 'funding' - makes it sound a bit more serious business venture and less of a charity case  imo :)
Yea, I was going to write it more like that but I thought the technical party line is that AGS are pure donations and are not an investment so I wrote it that way in case it was better not to imply otherwise.

259
General Discussion / BTSX Sales Brochure
« on: July 10, 2014, 12:45:16 am »
Hey guys, this is my rough draft for a BitShares X sales brochure (text only).  I wrote it for use at bitcoin conferences.  I just want to see any feedback.  I'm not sure if others have already done something like this so I'm happy to look at other works to put together a good version.

BitShares X
The New Consensus

The Bitcoin community share a belief that decentralized consensus technology will change the world in profound ways.  Bitshares X is an ambitious project born from this belief. Well before the recent collapse of Mt.Gox, the need for a decentralized exchange was recognized.  In 2013 Daniel Larimer, a software developer and longtime bitcoin community member, conceived of an idea for a decentralized exchange that would allow trading derivative assets that track the value of real-world assets, such as gold or USD, without counterparty risk or trusted price feeds.  A mechanism similar to a prediction market was designed which rewards traders who push the price toward consensus.

It has been over a year since this idea was formed and a massive effort has been undertaken to bring BitShares X to market.  Along the way, a new vision of the future of blockchain technology has emerged.  Mining has been eliminated from the consensus algorithm in favor of delegated proof of stake.  This eliminates the costly overhead of mining and potential for centralization of mining pools.  A team of dedicated developers have been assembled and over $5 million in donations was raised to grow the BitShares vision.  BitShares X is expected to launch within the month.  BitShares X is an open source project and public testnets of the software are currently running.  To find out more please visit bitshares-x.info and bitsharestalk.org.

260
General Discussion / Re: BTSX trade is open on btc38
« on: July 09, 2014, 07:57:43 pm »
3rd possibility: People believe if it is possible to store value with the price stability of gold or ubiquitous acceptance of USD but with all the advantages in transferability, privacy, and security of a crytocurrency... it will be worth billions.  But they are not convinced yet so it's worth 20-25million on speculation alone... or most of the people who have been convinced are already "all in"

261
General Discussion / Re: BTSX trade is open on btc38
« on: July 09, 2014, 03:27:20 pm »
Quote from: CLains on July 09, 2014, 03:03:35 pm
Lets say you bought all the PTS (assume cost = market cap) and then put them on bter, then you'd get half of market cap of BTSX + PTS market cap at sell. BTSX market cap is currently 36000 on bter, so unless you bought PTS at market cap >= 36000 BTC + PTS market cap at sell, you're doing just fine.
Didn't only half the current 36000 market cap go to PTS holders? So you must have bought at a market cap under 18,000 BTC + PTS market cap to be doing fine. 11mil + 7.5mil = 18.5 mil and PTS was above 20mil before snapshot; so PTS holders have lost money since the snapshot (it's cheaper to buy BTSX now than to have got them via PTS snapshot).  Of course I think this will change and most altcoins have dropped considerably since Feb.  Even NXT which has done comparatively well is about the same place it was at snapshot time.

262
BitShares AGS / Re: Isn't it better to purchase AGS with BTC than PTS?
« on: July 09, 2014, 03:38:38 am »
I am totally not following this.  You start with $620 and you either buy 1 BTC with it or you buy 140PTS with it.  Then you donate what you just bought and end up with X number of AGS (the same number either way if efficiency is equal).  Why would it be better to use the $620 to go one way or another when you end up with the same number of AGS?

263
General Discussion / Re: Initial price for a XTS
« on: July 08, 2014, 05:49:10 pm »
Quote from: id10tothe9 on July 08, 2014, 05:02:41 pm
I'm just catching up on everything so my question shows complete ignorance and I'm counting on your kindness to explain to me what's probably basic knowledge here  :D

were all the PTSX distributed or is it possible to buy some (in order to receive stake in future X ventures)? and I saw in another post there are ptsx available on bter38, are those the same thing, and is there a special wallet for ptsx to hold them or can they be transferred to a BitShare-PTS wallet?

(well now that I'm asking, I also took part in the initial buy/funding last year where you sent PTS to reserve a name of your choice. what happened to that?)
If you owned BitShares-PTS on February 28th, you will have a stake in BitShares X (BTSX); accessed with the same wallet keys that held the PTS on that date.  You can also buy more BitShares X on btc38 already.  You should also get some BTSX because you bought a keyhotee ID.  I believe your keyhotee ID may be pre-registered on the BTSX blockchain.  The Bitshares X blockchain has not officially launched yet.

264
BitShares AGS / Re: dac clarificaiton
« on: July 08, 2014, 03:45:42 am »
Quote from: bitcointalk on July 08, 2014, 02:51:40 am
potentially interested.


just need some clarificaiton

What can I do with AngelShares?
AngelShares will get you a stake in all DACs created and sponsored by Invictus and other teams who use their code

so, what happens if other teams do not use the code by DACs, do we not get a share at all?

also, is it a guaranteed 10% share?

thank you
Technically Invictus is a software company and other entities launch DACs using their software.  Technically Bitshares AGS (AngelShares) are a pure donation with no guarantee of anything.  Invictus is a real company and the developers are not anonymous.  There are reasons from a legal standpoint that those distinctions must be made clear.  The theory is that the market will reject DACs that don't honor the people that donated to fund the development of the software, and that a bare minimum of 10% is a reasonable assumption.

265
General Discussion / Re: Stolen fund alert system?
« on: July 07, 2014, 11:28:32 pm »
I think security concerns and horror stories are a huge reason for lack of adoption.  We should put together a BitShares common sense security best practices guide.  Will BTSX wallets allow for watching only wallets and offline transaction signing?

266
General Discussion / Re: Poll: PTS & AGS allocation expectations for main upcoming DAC's
« on: July 07, 2014, 10:59:55 pm »
Quote from: bytemaster on July 07, 2014, 03:34:34 pm
I think we can set a threshold for delegates to receive "dilution pay"... Anyone with 51% approval gets the pay, while the top 101 regardless of approval level can produce blocks.   This may accomplish what you want.
This could be some improvement, especially for those skeptical of the distribution model; it's more clear that these delegates have enough support.  It would make me think twice about approving delegates I otherwise like but want to keep below 50%.  I would still like us to try however we can to do it the right way. I don't think this is it; we can do better.

267
Follow My Vote / Re: Hello [BitShares] World!
« on: July 07, 2014, 10:39:32 pm »
Welcome!

268
General Discussion / Re: List of BitAssets to pre-register
« on: July 07, 2014, 09:48:56 pm »
Quote from: toast on July 07, 2014, 09:44:27 pm
Quote from: Agent86 on July 07, 2014, 09:38:35 pm
Isn't it very easy to fake market depth?
How? If you put in "fake" bids/asks they can still get matched, and if you cancel them then the "fake" market depth is no longer there and trading stops
Ok just asking, I haven't though about it, it just seemed like you could make a bunch of activity at a low price or something.  I also wasn't sure how you are measuring market depth

269
General Discussion / Re: List of BitAssets to pre-register
« on: July 07, 2014, 09:38:35 pm »
Isn't it very easy to fake market depth?

270
General Discussion / Re: Stolen fund alert system?
« on: July 07, 2014, 06:06:35 pm »
Quote from: toast on July 07, 2014, 05:59:27 pm
Is this relevant?
http://wiki.mastercoin.org/index.php/Saving_address
Yes, it seems to be an attempt to address similar problems.  I would have to try to understand it better to have an opinion.
I like the idea of savings addresses vs. "checking" addresses.  I'm not sure if blends into other type of account rules... I still think we need to enable you to set up a future auto-send to a different address if there is no activity for some period to leave funds to relatives when you die.

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