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Messages - Chronos

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376
General Discussion / Re: BitAssets 3.0 - For Community Review
« on: April 17, 2015, 04:39:11 am »
Controlling feed price now enables a major attack.

1) Obtain large BitAsset position
2) Request liquidation in 24 hours
3) Just before liquidation, spike the feed price via the delegates under your control
4) Profit, at the expense of the called shorts

Was this already a weakness? Is it made worse under these new rules?

377
General Discussion / Re: BitAssets 3.0 - For Community Review
« on: April 17, 2015, 04:37:18 am »
Whoa, do new shorts choose collateral level now? Extra choice means extra complexity.

I like this proposal in general, but thought should be put toward how to make this as easy to understand as possible for users of the market. I think most people don't intuitively "get" shorting unless they are already traders.

What if shorting were a single button "short x of BTS" that automatically shorted at feed price to yourself? Could this be combined with the proposal? Would it be beneficial?

378
General Discussion / Re: [FINAL ANNOUNCEMENT] Moonstone.io development and crowdfunder diary
« on: April 07, 2015, 05:11:45 pm »
You can't please everyone.

379
General Discussion / Re: Walkthrough videos you would you like to see
« on: April 02, 2015, 09:58:40 pm »
Good news: hangout is scheduled! 11AM EST on Friday (tomorrow), after the main hangout with Bytemaster.

I'll let Fuzzy post any other relevant details, if needed.

Talk to you then!

380
General Discussion / Re: Christmas Be born 1.0 wallet？
« on: April 01, 2015, 05:49:11 pm »
Quote from: nomoreheroes7 on April 01, 2015, 04:48:54 pm
Sounds like 0.9.0 will finally be ready for devshares this week, so we're getting there.
Bad news: after 0.9.0 comes 0.10.0, not 1.0.  :P

381
General Discussion / Re: Walkthrough videos you would you like to see
« on: April 01, 2015, 02:57:50 pm »
Quote from: xeroc ¯\_(ツ)_/¯ on April 01, 2015, 07:03:37 am
Just a remark: for the coldwallet tutorial (if you decide to do one eventually) .. please also add an howto for voting with a voting key .. I will prepare a script for this too when I get the time ..
Hopefully, the process of setting up a voting key will become a bit easier by the time of the recording, haha!

Quote from: favdesu on April 01, 2015, 07:05:56 am
I'd like to see an indepth video on shorting. how to do it and some strategies behind it.
An in-depth video on shorting is a terrific idea.

Quote from: jakub on April 01, 2015, 08:34:07 am
First of all, it's a really good idea to make such comprehensive videos for bitshares as you did for peercoin.
Thank you!

Quote from: jakub on April 01, 2015, 08:34:07 am
I'd suggest making a video on how to vote and how the whole voting mechanism works.

Also, it's not obvious why you should bother to vote on non-delegates. As far as I know the answer is that this way you can support voting slates.
Anyway, all those voting issues need a good video tutorial and it would be really great if we had one.
I completely agree. Voting slates should have been included in the OP poll.

Quote from: Carpet Ride on April 01, 2015, 11:52:41 am
Have you thought about becoming BitShares Chronos?
That sounds interesting. I've never been a blockchain before.  :o

Seriously, though, the plan would be for Chronos Crypto to produce Bitshares videos as its own entity. The YouTube channel itself will continue to have a broader scope than any single crypto currency.

Quote from: nz on April 01, 2015, 12:53:00 pm
1. What Bitshares is and how to use the Client (it needs a step by step explanation imo)
2. Decentralized Exchange - what it is and why its important
3. Voting - How and why its important.

Just my 2 cents. I think they need to be short'ish, concise easy to understand.
Good priorities, and I agree about concise videos, too. That's something that we learned from the Intro to Peercoin video: it's good to get all the info out there, but smaller bites makes it more digestible.

Quote from: davidpbrown on April 01, 2015, 01:04:27 pm
If [Buying and Securing your BTS Cold Storage] is exampling how to buy BTS on different exchanges, then that would be useful to prevent any hurdle there might be for those new to crypto-currency. The cold storage element of that then less important.
Good thought. Cold storage is really a different topic than How to Buy.

Quote from: jabbajabba ༼ つ ◕_◕ ༽つ on April 01, 2015, 12:09:39 am
I think it would be a good idea to make a delegate hangout with you.
Replied. Looks like a delegate hangout will happen! *thumbs up*

Thank you, all, for the excellent feedback so far!

382
General Discussion / Walkthrough videos you would you like to see
« on: March 31, 2015, 11:12:27 pm »
Based on the feedback from the Delegate idea: Chronos Crypto Videos thread, we know that walkthrough videos are critical to bringing mainstream users to the Bitshares ecosystem. Having the ability to watch someone else take the plunge with the wallet software will significant reduce the "fear factor" for new users.

Although we have a smattering of walkthroughs around the web, there is not yet a "one-stop shop" for videos covering each major piece of functionality in the ecosystem. I hope to put forward a delegate proposal to change that.

See the poll above. What area do you think should be the first focus?

Thanks for your feedback!

383
General Discussion / Re: food for thought - raising fees
« on: March 31, 2015, 06:19:10 pm »
Quote from: jran on March 31, 2015, 03:05:41 pm
This whole employees getting paid with share dilution is not working.  I have never seen it work in the real world either.  It has way too many problems such as the employees dont have a stable income...shareholders might be getting ripped off if the price all of the sudden goes way up etc.
Would you be in favor of dilution if it were denominated in BitUSD?

384
Stakeholder Proposals / Delegate idea: Chronos Crypto Videos
« on: March 29, 2015, 11:25:58 pm »
Hi,

I operate a growing cryptocurrency-oriented Youtube channel, Chronos Crypto, which currently consists primarily of lectures, walkthroughs, and product reviews. Check it out at https://www.youtube.com/user/ChronosCrypto.

As I've learned more about Bitshares, it has come to my attention that the community would benefit from a variety of videos to help new users get acquainted with the system.

Here are a few ideas for videos:

# Tech Lectures (Example: https://www.youtube.com/watch?v=A2jx1TlkMBs)
   - How TITAN provides privacy
   - How DPOS differs from POW and POS
   - How User Issued Assets work
   - How the internal exchange works
# Walkthroughs (Example: https://www.youtube.com/watch?v=wOhSFb7QFFo)
   - How to create secure cold storage (this was just asked! See https://bitsharestalk.org/index.php?topic=15137.0)
   - How to use the on-chain exchange
   - How to set up a new wallet
   - How to set up a delegate node
   - How to create and manage UIAs
   - How to buy BTS and BitAssets
   - etc.
# News & Announcements (Example: https://www.youtube.com/watch?v=LdtdS1uibJA)
   - New releases (v0.8 update required)
   - Trending discussions (the recent MLM discussion in the forums)
   - Announcements (new delegate proposal to consider)


I'd like to get some feedback and gauge interest in this thread. Would you be interested in supporting a Chronos Crypto video-production delegate?

Thanks!

385
General Discussion / Re: Bitshares Cold Storage
« on: March 29, 2015, 11:13:27 pm »
I get a certificate warning in Chrome at https://delegate.xeroc.org/coldstorage.html: " Server's certificate is not trusted. Your connection to delegate.xeroc.org is encrypted with obsolete cryptography."

Maybe it's using Bitcoin.  :P

386
Stakeholder Proposals / Re: Is Bitsapphire still a recommended delegate?
« on: March 29, 2015, 05:11:26 pm »
Bump. Anyone have an answer?

387
General Discussion / Re: Is "Market Rules Summary" correct?
« on: March 29, 2015, 04:28:10 pm »
Quote from: pc on March 29, 2015, 08:39:10 am
The limit of the short is the minimum price (BTS per USD) for which the owner of the short is willing to sell the USD he borrows from the market.
The rules say that he can't sell his borrowed USD below the feed, so if the limit is below the feed the USD will be sold at the feed price. If the feed is below the limit, the USD from the short will be sold at the limit, provided someone is willing to pay the price.
Ah, that explains point (3). It's a lower limit, so filling the short at a higher price does not violate it. Thanks for the clarification!

388
General Discussion / Re: Instant BitAsset profit opportunities?
« on: March 28, 2015, 10:51:55 pm »
Here's a thought: shorts are not allowed to execute below the price feed. This prevents shorts from driving asset price into the ground. (Correct?)

Example: This mechanism, plus the 30-day expiration of shorts, keeps BitUSD from equalizing near $0.50.

However, what about longs driving the price to the moon? The 30-day expiry could allow longs to eventually capitalize on such manipulation. What stops BitUSD from equalizing near $2, for example? Would any market mechanism naturally pull the price lower?

389
General Discussion / Re: Is "Market Rules Summary" correct?
« on: March 28, 2015, 09:39:49 pm »
Quote from: pc on March 28, 2015, 08:46:25 am
the short will execute at the price feed if its limit is below the feed (BTS per USD).
At the price feed? Maybe I don't know what "limit" is supposed to mean. I would think that execution above a limit would mean that the limit didn't work as intended (?).

390
General Discussion / Re: Instant BitAsset profit opportunities?
« on: March 28, 2015, 06:26:44 pm »
Quote from: pc on March 28, 2015, 04:55:26 pm
The danger is that if the BTS price goes down again you'll have to take severe losses when covering.
What about the danger that, even if BTS stays the same, at expiration, there are still bids above the feed price, and no asks nearby? When covering, a shortage of liquidity makes it difficult to cover. If there's any bid above price feed, you can't cover your own short (correct?). So you could be forced to buy back at an absurdly high price, to cover the short.

Am I missing something?

Let me summarize: due to high demand for BitAsset, and insufficient order book supply, when a short needs to cover, it has to severely overpay (vs feed price) to obtain the asset.

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