BitShares Forum

Main => Stakeholder Proposals => Topic started by: intelliguy on October 30, 2017, 03:34:24 am

Title: [ALPHA] Trustless deposits/withdrawal of BITCOIN -- proposal & discussion
Post by: intelliguy on October 30, 2017, 03:34:24 am

This post is a placeholder to discuss trustless deposits and withdrawal of BITCOIN for Bitshares Users with actual bitcoin transactions.

This will require some coding changes to implement, it is possible. 

Purpose of having trustless deposits / withdrawals of actual bitcoin means:

a) You no longer have to deposit/withdrawal to a centralized exchange
b) In the event any bitshares gateways go down or are unavailable, you still can move actual BITCOIN to/from the Bitshares DEX

This my suggestion for Bitshares 3.0+

I'm planning on discussing this on BeyondBitcoin radio show this Saturday Nov 4, 2017 as shown in this steemit post:

https://steemit.com/bitcoin/@intelliguy/please-vote-my-rsvp-comment-so-i-can-get-on-beyondbitcoin-internet-radio-this-saturday

If you are interested in hearing more, please help upvote @intelliguy on the RSVP thread here (and consider attending too!)

https://steemit.com/eos-project/@officialfuzzy/bitshares-hangout-45-or-2017-11-04-or-sat-100pm-utc-or-opensource-agenda-beyondbit-payouts-powered-by-sp


Here's a quick picture of a simply drawn flowchart I made that I'll be using as a visual aid. I have never used software to make flowcharts before, and I need to get this idea out faster than I have time to learn how to properly use flowcharting software.

This is a brainstorming session. Lots of Q&A and food for thought to be discussed especially during the afterparty. I will revise this post after the radio show archive gets posted for those who cannot attend.

(https://steemitimages.com/DQmVCdrr1uTFpsFD54wUuAF1zMEvhE97LSNKca2vgskRPeu/deposit-withdrawal-bitcoin-bts-v1.1.png)

Oct 2015 Article:
https://www.coindesk.com/multichain-build-ownblockchain-banks/

(https://steemitimages.com/DQmRGNFL5WYgxfe89bwBGghuZ8jnkxQNNy2RQR49k1KGSDg/multichain-downloads.png)

Title: Re: [ALPHA] Trustless deposits/withdrawal of BITCOIN -- proposal & discussion
Post by: virtualgrowth on October 31, 2017, 02:17:39 am

Sounds like an interesting idea to explore.  Virtualgrowth exchanges various crypto with other users already and think it would be beneficial to explore offering services like this more.

Best,
Virtualgrowth

Title: Re: [ALPHA] Trustless deposits/withdrawal of BITCOIN -- proposal & discussion
Post by: pc on October 31, 2017, 11:00:43 am

This looks more like ACCT than a trustless gateway. ACCT can be done much simpler without witnesses.

Title: Re: [ALPHA] Trustless deposits/withdrawal of BITCOIN -- proposal & discussion
Post by: JonnyB on November 03, 2017, 04:48:29 am

looking forward to hearing you talk on the mumble hangout tomorrow

Title: Re: [ALPHA] Trustless deposits/withdrawal of BITCOIN -- proposal & discussion
Post by: fav on November 04, 2017, 01:34:24 pm

find the link https://github.com/bitshares/bitshares-ui/issues/657

Title: Re: [ALPHA] Trustless deposits/withdrawal of BITCOIN -- proposal & discussion
Post by: intelliguy on November 09, 2017, 05:16:55 pm

The audio link talking about this subject is here:

https://soundcloud.com/beyond-bitcoin-hangouts/bitshares-open-source-hangout-45-20171104full-edited-version

It starts at 4 mins, 15 seconds in that archive and runs over 20 minutes long and has a couple different people talking to the speaker as well.