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Messages - biophil

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646
KeyID / Re: [ SNAPSHOT: 8/21 ] DNS
« on: August 02, 2014, 02:55:10 pm »
I have a feeling that I've missed a bit of discussion on this, but could someone explain what kind of gap we can expect between the theoretical maximum delegate dilution and a true delegate dilution? Does the gap come from delegate pay rate?

Quote from: toast on August 01, 2014, 11:08:19 pm

7bn delegate subsidy, about 45% of the pool paid out per year. Remember, this is a theoretical maximum! Realistically you will not have 7bn new tokens printed for the delegates!


647
General Discussion / Re: Bitcoin Magazine article
« on: July 30, 2014, 11:02:20 pm »
+5%

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648
General Discussion / Re: After importing from PTS/AGS, gui doesnt show which addresses have the funds
« on: July 30, 2014, 09:55:30 pm »
Quote from: trader on July 28, 2014, 11:58:24 pm
Quote from: biophil on July 28, 2014, 11:51:21 pm
What do you mean deterministic wallet? You mean that the first account private key is generated from the wallet password? My impression was that this is false, that the bitshares wallet is in no way a brain wallet.

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Deterministic wallet does not imply brain wallet. Bitshares generates a random seed, encrypted by your passphrase (So its not brain-only). As I understand it that seed can deterministically generate multiple addresses.

Anyway the problem is that GUI doesnt show which of my addresses actually contain the funds, which causes a real headache if I want to confirm whether I need to do another backup or transfer again.

Agreed. A better method of importing would be a sweep, where all imported funds are moved from the AGS/PTS address to the specified wallet account address. Of course, it would cost a transaction fee.

649
Stakeholder Proposals / Re: Delegates responding to market rates, weird game theory with current set-up
« on: July 30, 2014, 09:22:52 pm »
Quote from: jshow5555 on July 30, 2014, 09:19:02 pm

I think what you guys forget is that BTSX is deflationary and it will always increase in value.

Nothing "will always increase in value." It is our desperate hope that it will always increase in value, but it will only do so if demand is constant or increasing.

The OP makes a good point: even a relatively short-term decrease in value (down 25% for a month?) could put quite a few delegates in the awkward position of needing to create new accounts and get a large portion of voters to switch votes. Doesn't sound like a great situation.

650
General Discussion / Re: What do PTS/AGS and BTX holders need to know regarding BitAsset launch
« on: July 29, 2014, 11:53:45 pm »
Quote from: cryptosig on July 29, 2014, 08:42:04 pm
Will unclaimed PTS/AGS shares not be allowed to participate in new snapshots or will the Feb snapshot carryover even if unclaimed?

Snapshots carry over.

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651
General Discussion / Re: Thank you I3 for your hard work, talent, innovation & dedication!
« on: July 29, 2014, 11:48:15 pm »
+5%

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652
General Discussion / Re: No DPOS upgrade for Bitshares PTS???
« on: July 29, 2014, 11:46:30 pm »
I strongly support moving PTS to btsx as soon as we have a GUI for user-created asset trading.

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653
General Discussion / Re: Listing BitUSD on centralized exchanges?
« on: July 29, 2014, 11:39:43 pm »
My first reaction is "of course it will be listed on centralized exchanges!" Luckybit has a good point, but the reality us that if it puts centralized exchanges out of business, it will do so whether they list it or not. So sure, maybe some exchanges will put their heads in the sand and pretend bitusd doesn't exist, but the exchanges that last the longest will be the ones that embrace the new paradigm and profit from bitusd's dominance. Any exchange that lists bitusd will make a killing as it starts to overtake bitcoin as the default unit of account in the crypto world.

The thing is, if an exchange wants to list bitusd, there isn't a damn thing we could do about it even if we wanted to. Thus my conclusion that someone will certainly do it sooner or later.

Actually, I think day traders will always prefer centralized exchanges over decentralized ones because they're faster and they don't charge you fees to place orders. But that's just my hunch - I wouldn't put any money on it.

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654
LottoShares / Re: Is LottoShares on coin market cap? If so what is it trading at?
« on: July 29, 2014, 02:43:29 pm »
Quote from: FreeTrade on July 29, 2014, 11:41:58 am
Quote from: bytemaster on July 28, 2014, 05:38:40 pm
I couldn't find LottoShares on coinmarketcap...

I've requested a listing, but no word back yet.

CMC requires an 'available supply' to calculate market cap . . . we have 100,000,000 issued, but 60% have not matured yet so are clearly not 'available supply'. 40% are available, but require action on the part of 1.25M BTC/DOGE holders to claim, so not sure if this falls within the 'available supply' definition. It's difficult for an airdrop coin to do a direct market cap comparison to a mined coin.

Is it possible to check how many shares have been claimed from the genesis block? That would be really interesting to know.

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655
LottoShares / Re: Playing has started.... how about the earnings?
« on: July 29, 2014, 02:41:25 pm »
I think of it as 2 kinds of dividends: explicit and implicit. If dividends showed up as transactions increasing your balance, that would be explicit. LTS has implicit dividends: shares are burned with each lotto ticket, which reduces the overall share supply. If demand remains constant, a decreasing share supply will drive up prices. Thus, the net effect in the long run is that you're being paid a dividend.

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656
General Discussion / Re: Any plan in August?
« on: July 29, 2014, 02:37:14 pm »
Quote from: MrJeans on July 29, 2014, 12:15:46 pm
I have some BTX shares on an exchange. Do I need to have them stored in my BitsharesX client when BitAssets is launched?
Quote from: bytemaster on July 28, 2014, 01:51:42 am
Quote from: yinchanggong on July 28, 2014, 01:49:46 am
Quote from: bytemaster on July 28, 2014, 01:42:03 am
The plan for August is to launch BitAssets...
just BitAssets? what about ME lotto DNS....

That is what I am focused on...  you will probably hear of 2 more snapshots and distribution allocations in August.

You shouldn't need to have them in the wallet for bitasset launch, but of course there are a million reasons bedsides snapshots to have them in your wallet: security, trust, voting...

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657
General Discussion / Re: After importing from PTS/AGS, gui doesnt show which addresses have the funds
« on: July 28, 2014, 11:51:21 pm »
What do you mean deterministic wallet? You mean that the first account private key is generated from the wallet password? My impression was that this is false, that the bitshares wallet is in no way a brain wallet.

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658
General Discussion / Re: BitAsset Market Manipulation Security
« on: July 28, 2014, 11:47:46 pm »
Quote from: skyscraperfarms on July 28, 2014, 03:17:19 pm
Back to the original topic:

Do you mean data price feeds from the exchanges that list BTSX? And then using a median or average of the price? If so, doesn't this put a lot of control in the exchanges hands? Like what if they were to collude and manipulate price together?

I think any time you have price feeds that humans can exert influence on, you'll have the risk of some group out there colluding for profit. Like big banks manipulating LIBOR to make fractions of percentage points on their intraday loans... you probably just can't get away from it. However, gross feed accuracy should be relatively easy to regulate: delegates will be able to tell if someone is misreporting by percentage points and simply exclude the manipulated data.

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659
General Discussion / Re: Back to observer, not a poster
« on: July 28, 2014, 11:36:40 pm »
Quote from: jae208 on July 28, 2014, 10:42:01 pm
Quote from: Simeon II on July 25, 2014, 05:32:28 am
I know this will be buried deep under a ton of post before morning, but I will write it anyway.

I was inspired to write this, before turning back to mainly observer (instead of active poster), by those 2 posts:
https://bitsharestalk.org/index.php?topic=5982.msg80316#msg80316
https://bitsharestalk.org/index.php?topic=5982.msg80789#msg80789

Firstly, I completed my sale transaction of BTSX by giving the buyer a discount on the negotiated price in exchange for him paying the deference between the negotiated price and the current price of 0.0000160, instead of actual delivery. In other words we turn it from a sale into a bet.

What this means for everybody: (everybody is winning, I hope)
-For me , I get my gains and do not have to import my wallets and then transfer the amounts using software that is still pretty unstable. Additionally I do not have to go to the exchange and buy significant amounts of BTSX. You are right donkeypong , buying such amounts at this point in time will most likely move the price of BTSX up, at least temporarily.
-The other party gets a discount compared to going through with the transaction, as initially negotiated.
-All of you, especially the one that still vote –‘I am buying’ - The ‘whale’ did not move the price up for you. Feel free to go and buy at those low prices!


Which leads to another one of my reason to post this.
You all are brave and believe in BTSX. My 2c are that the current price offers a great level to get in or add to your position.
But be advised, if you do not go and do not actually buy some BTSX, we will probably see my initial expectation come true. And they were 8-15 Mil market cap.

Do what is best for you of course, but understand that the current demand is kind of pathetic!

S II


Maybe if I3 burns their holding of BitsharesX that they got from the donated funds BitsharesX would be worth at $20 million.

Anyone else agree that they should burn their BTSX?

Wow... you're joking, right? Why would we have donated to AGS if we wanted them to burn our money?

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660
General Discussion / Re: Future DACs on the BTSX rewards proposal
« on: July 25, 2014, 05:59:06 pm »
That would be cool, and it would be especially easy if AGS were made liquid on the BTSX blockchain, right?

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