BitShares Forum
Main => General Discussion => Topic started by: SuanBing on March 17, 2014, 04:53:21 pm
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:) +5%
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卧槽，真快啊
genisis block found，let’s bitshares
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+5%
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Soooo.... What're ya'll looking forward to the most with BTS Me? How will ya'll be using it? 8)
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I will be using it to sell consulting time. I doubt anyone will buy it, but I'll selling it =P
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Please educate me. What can be sold via BitShares ME? Services or physical item? What criteria allow the service or item to be traded? I don't quite get it.
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You just issue IOUs. It's just an asset backed by a promise, just like mastercoin or counterparty. You can have it mean whatever you want.
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I will be using it to sell consulting time. I doubt anyone will buy it, but I'll selling it =P
That's a good idea! I play music and have considered BTS Me for selling tickets to our shows.. seems do-able 8)
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You just issue IOUs. It's just an asset backed by a promise, just like mastercoin or counterparty. You can have it mean whatever you want.
Suppose I issued an IOU and someone bought it, but I don't fulfill my promise (scam in other words). What happen next (to me and to buyer)? My IOU value drop to zero?
But how a buyer can "buy" my IOU? with XTS? or with BitsharesME shares?
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You just issue IOUs. It's just an asset backed by a promise, just like mastercoin or counterparty. You can have it mean whatever you want.
Suppose I issued an IOU and someone bought it, but I don't fulfill my promise (scam in other words). What happen next (to me and to buyer)? My IOU value drop to zero?
But how a buyer can "buy" my IOU? with XTS? or with BitsharesME shares?
It's up to you, the customer, and the public to resolve un-honored IOUs. You could also theoretically do something really fancy like have a piece of hardware that requires ownership of the asset on Me to work, so then your asset could effectively be traded as a title for that piece of hardware.
Buyers buy the asset on the exchange within Me, using other Me assets or the core Me asset (XME?)
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You just issue IOUs. It's just an asset backed by a promise, just like mastercoin or counterparty. You can have it mean whatever you want.
Suppose I issued an IOU and someone bought it, but I don't fulfill my promise (scam in other words). What happen next (to me and to buyer)? My IOU value drop to zero?
But how a buyer can "buy" my IOU? with XTS? or with BitsharesME shares?
Your IOU should be backed by collateral. Put some Bitshares in escrow which track the value of each purchase. If the escrow isn't big enough then you shouldn't be able to issue IOU's to people who don't want to deal with anyone not backed by collateral.
You can do IOU without collateral but if you have collateral then even if you are a scam you don't get to keep our money, we get our money back at any time by redeeming the IOU for what is held in escrow.
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The big use for this that I see is selling stock in a company. This would make issuing stock much easier for smaller businesses, allowing them to generate capital through crypto-currencies with minimal difficulty
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The big use for this that I see is selling stock in a company. This would make issuing stock much easier for smaller businesses, allowing them to generate capital through crypto-currencies with minimal difficulty
And, if not stock, then debt. A zero-coupon bond is a promise to pay X units of currency on a given future date. The market determines the price, and the return is calculated from the other three variables.
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The big use for this that I see is selling stock in a company. This would make issuing stock much easier for smaller businesses, allowing them to generate capital through crypto-currencies with minimal difficulty
And, if not stock, then debt. A zero-coupon bond is a promise to pay X units of currency on a given future date. The market determines the price, and the return is calculated from the other three variables.
Crowd-funding is about to get a whole lot easier 8)
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How expensive would it be to issue my IOU shares?
When my noodle stand company is worth 1 million USD and I issue 1 million NS-Shares each at 1 USD with BTS ME. How much would I roughly have to pay? What are the costs specifically?
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My guess: shares exist as balances just like with BTC. To issue all 1m shares costs a small tx fee. To send your 1m to 1m different addresses costs... how much does it cost to do that with bitcoin? When would you ever even do that?
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My guess: shares exist as balances just like with BTC. To issue all 1m shares costs a small tx fee. To send your 1m to 1m different addresses costs... how much does it cost to do that with bitcoin? When would you ever even do that?
So shareholders only profit from tx fees?
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How expensive would it be to issue my IOU shares?
When my noodle stand company is worth 1 million USD and I issue 1 million NS-Shares each at 1 USD with BTS ME. How much would I roughly have to pay? What are the costs specifically?
You can do this right now on Counterparty and it would cost you about $20-$30 in issuance fees. I think in the long-run Counterparty is planning to set up some kind of dynamic, variable issuance fees.
In Bitshares-land, there could be a prediction market for issuance fees. I expect BitShares Me fees to be relatively low and dynamic. The network experiences almost no cost to create an asset [citation needed], so the only reason to have any issuance fees at all is to discourage squatting. I wouldn't be surprised if issuing shares on BitShares Me looks a lot like registering a domain name on BitShares DNS.
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So when will be the snapshot take place for this particular DAC? any timeframe?
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So when will be the snapshot take place for this particular DAC? any timeframe?
We have learned it is always bad to give any time estimates since it somehow turns into a promise in some people's minds.
In any event, it is up to the five teams of developers who will be having a friendly competition called "Don't Be Last!"
:)
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I understand what is your position. :)
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My guess: shares exist as balances just like with BTC. To issue all 1m shares costs a small tx fee. To send your 1m to 1m different addresses costs... how much does it cost to do that with bitcoin? When would you ever even do that?
So shareholders only profit from tx fees?
up
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I will be using it to sell consulting time. I doubt anyone will buy it, but I'll selling it =P
wow just like a doctor. consultation fee. I might as well sell my ideas here 8)
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mark! I am waiting for btsx.
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I am contemplating different issuance models... currently the number of unique types of shares that can be issued per chain is limited to 2^16 or about 65K.
In this sense the ability to issue shares is a limited resource. I am thinking of limiting it to one new type per block maximum and thus who ever paid the highest transaction fee would get their shares issued first.
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Reserve my name:D
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+5% +5%
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Hello BitShares ME!
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hello ME +5%
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We are waiting for the White Paper of Bitshares Me ... :)
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I am contemplating different issuance models... currently the number of unique types of shares that can be issued per chain is limited to 2^16 or about 65K.
In this sense the ability to issue shares is a limited resource. I am thinking of limiting it to one new type per block maximum and thus who ever paid the highest transaction fee would get their shares issued first.
Might be worth considering a share-name expiration time also. If someone issues the name "urple" and then never does anything with it, let it expire.
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I am contemplating different issuance models... currently the number of unique types of shares that can be issued per chain is limited to 2^16 or about 65K.
In this sense the ability to issue shares is a limited resource. I am thinking of limiting it to one new type per block maximum and thus who ever paid the highest transaction fee would get their shares issued first.
Might be worth considering a share-name expiration time also. If someone issues the name "urple" and then never does anything with it, let it expire.
If you do not renew it annually (basic per-byte trx fee) then it expires.
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So when will be the snapshot take place for this particular DAC? any timeframe?
We have learned it is always bad to give any time estimates since it somehow turns into a promise in some people's minds.
In any event, it is up to the five teams of developers who will be having a friendly competition called "Don't Be Last!"
:)
Good call. When Apple announces a product it goes like this:
"Today we are announcing our really awesome new toy! And you can buy from us right now!"
Best not to announce a date until it's truly ready. If I'm not mistaken just about everything in the pipeline is expected to be ready in the Spring... ish. :)
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So when will be the snapshot take place for this particular DAC? any timeframe?
We have learned it is always bad to give any time estimates since it somehow turns into a promise in some people's minds.
In any event, it is up to the five teams of developers who will be having a friendly competition called "Don't Be Last!"
:)
Good call. When Apple announces a product it goes like this:
"Today we are announcing our really awesome new toy! And you can buy from us right now!"
Best not to announce a date until it's truly ready. If I'm not mistaken just about everything in the pipeline is expected to be ready in the Spring... ish. :)
...oh and one more thing... ;)
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So when will be the snapshot take place for this particular DAC? any timeframe?
We have learned it is always bad to give any time estimates since it somehow turns into a promise in some people's minds.
In any event, it is up to the five teams of developers who will be having a friendly competition called "Don't Be Last!"
:)
Good call. When Apple announces a product it goes like this:
"Today we are announcing our really awesome new toy! And you can buy from us right now!"
Best not to announce a date until it's truly ready. If I'm not mistaken just about everything in the pipeline is expected to be ready in the Spring... ish. :)
...oh and one more thing... ;)
Jobs was a legend. Next in line ... Brian Page
Sent from my iPhone using Tapatalk
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+5% +5% +5%
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I am contemplating different issuance models... currently the number of unique types of shares that can be issued per chain is limited to 2^16 or about 65K.
In this sense the ability to issue shares is a limited resource. I am thinking of limiting it to one new type per block maximum and thus who ever paid the highest transaction fee would get their shares issued first.
Might be worth considering a share-name expiration time also. If someone issues the name "urple" and then never does anything with it, let it expire.
issuer.issuance.expirationdate
Luckybit.Luckyshares.09132014 for example.
I would want to be able to set my vouchers to expire at predetermined dates in some cases.
Shares are another matter, but a share can also act as a voucher.
You could come up with a ticker but internally you would want to store it differently.
If space runs out on 4 letters, just add another letter. If that doesn't work then add a dot, a date, an issuer, and so on.
That is what Counterparty intends to do.
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I am contemplating different issuance models... currently the number of unique types of shares that can be issued per chain is limited to 2^16 or about 65K.
In this sense the ability to issue shares is a limited resource. I am thinking of limiting it to one new type per block maximum and thus who ever paid the highest transaction fee would get their shares issued first.
Might be worth considering a share-name expiration time also. If someone issues the name "urple" and then never does anything with it, let it expire.
issuer.issuance.expirationdate
Luckybit.Luckyshares.09132014 for example.
I would want to be able to set my vouchers to expire at predetermined dates in some cases.
Shares are another matter, but a share can also act as a voucher.
You could come up with a ticker but internally you would want to store it differently.
If space runs out on 4 letters, just add another letter. If that doesn't work then add a dot, a date, an issuer, and so on.
That is what Counterparty intends to do.
Storing bulky names would just be wasting space in the blockchain, share types are represented by integers. The issuer of the shares / tickets / etc would be responsible for naming them outside the system.