I made a short and sweet post about bitBTC yield: http://www.reddit.com/r/Bitcoin/comments/2i0ty7/bitcoin_wont_give_me_interest_on_a_savings/ckyaml9

I believe the DNS test net has successfully shown 2 second avg. confirmation times of transactions. So what you are describing may be possible using the BitShares toolkit.

Forgive my ignorance. but since I'm very interested in the DNS DAC, so its important I understand this.

What exactly is a snapshot? It obviously implies something in motion and saving the state of whatever is in motion.

In this discussion we're talking about the Music DAC, so how is that in motion? I didn't think that was launched yet. Is the Music DAC "in motion" starting from the transactions in a genesis block ongoing to the present, such transactions representing trades between developers of the Music DAC?

I see the term snapshot used fairly often but I haven't found just what it means in a bitshares / DAC context yet.

A snapshot is an instant in time in which the BitShares PTS blockchain state is "saved". Then using the PTS wallet keys, holders of PTS can claim their stake from the initial allocation of the new DAC that corresponds to the snapshot when the Proto DAC blockchain is released into the wild. The process of claiming is built right into the BitShares toolkit, so you can upload the PTS wallet directly from the GUI of the new DAC and receive your stake. Some exchanges handle this process for you, but it is always safer to hold your own PTS in a local wallet.

P.S. I haven't claimed any stake this way yet, so if someone sees a hole in my explanation please correct me!

Today I can look back to the last 2-3 months and say, wonderful. Wonderful because I started to do push ups, squatts, and this every 2-3 days, depending on the muscle pain. After 20 years of couchlock it feels better than anything to activate all the muscle fibers and to tell my body to fix itself. Mind over matter (?)..

If you are like me 3 months ago, then I will tell you the trick. The trick is to start with one excercice that is ok for you. Then do this only so many times so that you are not feeling the feeling you get when you normally think about sports

Now just do this once a day. After 2-3 weeks you will be activated again from slowly degrading in your mid 30's. The spine, the bones, everything will start to reactivate and then it's fun and you can decide if you want to get more endurance or strength or whatever. But starting is important. I made little cards everywhere in the flat, that reminds me of always doing this every 2-3 days forever. The new life you know? Because moving the body is important and deserves a steady place in the life of a human.

Way to go, keep it up man! There is something to be said about the symbiosis of good mental and physical health. I know when I am feeling burned out or random bouts of existential depression, going for a run + lifting some weights does wonders. It also allows my body to "slow down" enough to focus on mental tasks after the exercise session. For me exercising also kick starts the metabolism, and makes sleep come easier at night.

We all have the potential, the hard part sometimes is being able to find the willpower to execute on said potential!

Thank you very much for your detailed reply. This is exactly what I was looking for.

With regards to your answer in point 4:

Quote from: CLains on September 21, 2014, 08:18:35 am

BitShares X has Bitcoin-style addresses included in the wallet, and you can use them to transfer. Under the hood I think it works a lot like Bitcoin. The idea here is that for most purposes, account names are better as they are easier to type and remember. In any case, exchanges, developers etc. will have to experiment and customize solutions for given applications.

I've read some of the documentation and I can see that the account name and public key abstract the transaction layer, allowing for 'behind-the-scenes' generation of unique key-pairs for each transaction. I realize that this is to address the perceived flaw in address reuse that is prevalent in Bitcoin, but I'm still not clear as to whether generating a "per-account, per-customer" mechanism is an acceptable solution over the existing "single-account, memo-per-customer" method employed by bter.

For example; if I deposit Bitcoins to Bitstamp.net, I do so to a unique Bitcoin address that has been generated for me. This eliminates (almost) any chance of the Bitcoins that I send not being credited to my account.

In a comparable scenario with BitsharesX and bter.com - the reconciliation of funds to a customer account is done using the memo field. This means that if a customer mis-types the value, or forgets to enter it (and they will), the funds - while credited to bter.com - will not be credited to the customers account. This will generate significant support overhead as originating funds that do not contain the reference must then be manually reconciled.

So, firstly, is there a way to enforce a memo value - possibly allowing the provider to apply a regular expression pattern embedded into their public account (like website field now) that allows them to reject transactions that don't contain a recognized memo pattern. Or; would it be better for me - as a marketplace/exchange etc - to generate an account for each of my customers that register and give them the account name and public key to deposit their funds. This way, eliminating then need for any memo value?

If you have any use-cases for illustrating how BitsharesX would work in the context of a marketplace/exchange deposit and in the context of a BitPay/Coinbase merchant<->customer transaction - that'd be awesome.

One last slightly different question; I created two accounts within the client and when I tried to send funds from one account to the other, I was required to enter both the account name (E.g. "willabie") and the public key. The client refused to send the funds unless both values were present. I was under the possibly erroneous impression that the account name was a 'friendly' way of deriving the public key and as such, either that or the public key should be sufficient to send the funds onwards? (I'm also aware it might just be an eccentricity of the client and that the RPC commands do support this functionality - some clarity would be great)

On a side note; I firmly believe that BitsharesX is a contender for the future of crypto-currency, but how the user experience is presented will be key to gaining that adoption.

Welcome to the forum, these are good questions. I don't believe there is a way to make memo field match patterns yet, but that would be a good way to help prevent the scenario you described with BTER. I personally think it makes more sense for the exchange to take advantage of TITAN by registering accounts for each "deposit box". But there is also the argument that causes additional block-chain bloat I suppose.

As for the use cases, BitAssets such as bitUSD are fungible, allowing one to deposit them to exchanges just like other crypto tokens. Merchants using bitUSD could accept that directly to their registered account without the need for an intermediary like Coinbase.

Lastly, you cannot send directly to accounts unless the name is registered on the blockchain for a nominal fee of 0.1 BTSX. This can be done from that specific account's overview page.

I agree with you that referral programs are a very powerful way of driving people to interact with services online. I haven't considered building the referral program directly into the DAC, but perhaps the delegates could have a 3 way slider to facilitate the referral fund if this ever did happen. Because this idea depends on being able to purchase stuff with BitAssets, maybe this would be better received a little further down the road.

I am interested in building a learning platform referral program to give people incentives for learning about the fundamentals of crypto-equities, blockchain technology and eventually specific projects (BitShares ecosystem would be my first focus). These lessons wouldn't necessarily have to be super technical, but more about introducing the overarching concepts and why they matter. I think wider adoption will happen when people understand what they are interacting with better.

http://peertracks.com works for me.

Here is the updated email template, thank you to those that submitted edits.


Subject: Please consider adding BTSX and Bitassets to your exchange.

BitSharesX is no clone coin, so please hear me out! BTSX has the first commodity, cryptocurrency, and FIAT decentralized asset exchange, the assets traded on the decentralized exchange are named Bitassets. The values of the Bitassets are "market pegged" to their true real-life values through trade on a decentralized market. The market peg is held by people taking opposite investment positions on that asset (short or long). The appropriate amount of BTSX is held in collateral to back the Bitassets such as bitUSD, bitBTC, bitCNY, and bitGOLD.

Accepting BTSX could expand your original business model beyond cryptocurrencies and into real life commodities. Furthermore, working with decentralized FIAT is much more convenient due to onerous taxes and government policies such as kyc, etc. As of this Wednesday, Bitassets will gain interest from transaction and market fees from each Bitasset. Some estimates have put that interest at about 5% to 10% yearly, and this makes bitUSD a good alternative to a savings account in a bank.

Along with the above benefits your customers will enjoy the 10 second block confirmations, on the new Delegated Proof of Stake algorithm, which is as secure as one Bitcoin confirmation. Delegated proof of stake uses a stake holder's vote to vote in the 101 block producers that alternate turns producing the next block. If a delegate is doing a bad job, or is attacking the network, then they can be voted out of power easily by other stake holders. In this way, delegates that were "hired" can also be "fired" by stakeholders in the network. The adjustable pay and burn rate of delegates also allows for creative campaigns to be launched by delegates, who can then funnel a % of their pay toward bolstering the community in some way.

Unlike Bitcoin, Litecoin, and most cryptocurrencies, BTSX is truly deflationary as transaction fees are  destroyed and no more BTSX will be printed, and most cryptocurrencies are still in the inflationary stage of their distribution model. The destruction of transaction fees serves as a means to pay "dividends" to shareholders by increasing the buyer power of remaining BTSX in the system. It is possible that due to its utility and features, along with its truly deflationary model, it could appreciate in value better and faster than other cryptocurrencies.

In summary, please consider adding BitsharesX and Bitassets to your exchange for all the benefits they will bring, and the large community that is forming around it. BitSharesX and Bitassets are truly revolutionary ideas that deserve to be traded on the bigger cryptocurrency exchanges, and rise above the "copy and paste coins" and gimmicks that alternative cryptocurrencies have mostly been in the past.

Thanks,

Your name here