Show Posts

This section allows you to view all posts made by this member. Note that you can only see posts made in areas you currently have access to.


Messages - merivercap

Pages: [1] 2 3 4 5 6 7 8 ... 45
1
Hey guys!
Thought I posted about the event here already, but Stan Larimer will be part of one of the session panels at 100x Blockchain Investors Summit: https://100xinvestors.com discussing Altcoins.   
We have the who's who of the industry participating too... you can use discount code BITSHARES20 for 20% off!
 

2
Hey guys,
For those that don't know I was planning to run an experiment with a Smartcoin called CASH.USD to see if we could improve the design of bitUSD.  Unfortunately due to my lack of monitoring and no trading activity, there was a black swan on CASH.USD.   Luckily we only had about $250 created and half of it was owned by our accounts.   Although I'd like to have pursued the new design to see how well it worked, this was probably a sign that it is better for Bitcash to use bitUSD instead. bitUSD has close to a $4 million supply and good liquidity.  For anyone that holds CASH.USD, we'll reimburse everyone an equivalent amount of bitUSD since the global settlement feature after a black swan still does not work.   Thanks to all the witnesses that provided a pricefeed for CASH.USD!  Good news is that we'll be able to create more activity with bitUSD and help make it more liquid!  Hopefully we can continue to improve its design.  Let me know if you have any questions.  Onwards!

3
General Discussion / Re: So when do we launch localbitshares?
« on: June 27, 2017, 08:46:26 am »
We're trying to foster p2p exchanges into bitcash and get people into Bitshares (or any other coin) using another website similar to Blocktrades/Shapeshift.

The idea is that people can trade fiat to crypto (ie. bitcash) 1:1 instead of trying to deal with order books, varied price offers, price fluctuations, different exchange prices.

We'll see how that goes! 

4
We can probably keep the fees for asset creation, but the psychological appeal of frictionless trading and transfers is incredible.

I assume you mean "frictionless trading" from a user perspective.

What about from a technical perspective?  If it costs me nothing to pound the blockchain with "frictionless trading"... and I'm a black hat (which I am not)... or owner of a botnet with 50,000 slave machines (which I am not)... Now you've just given competitors or blackhats an incentive to come here and use frictionless tactics to overload our blocks with nonsense.

The one thing that stops people from brute forcing garbage into the network is the fact that they'll have to pay BTS to do it.  If you make it free... it's a matter of time until you create a whole new problem that we don't currently have..

I don't care how fast graphene is.... if writing to the blockchain becomes free, you're in for a world of hurt.


Yeah I am speaking from a user perspective.  Rate-limiting is the cost so for bots it's not frictionless and you can't spam the network.   

5
General Discussion / Re: Prism
« on: May 31, 2017, 08:50:15 pm »
I just saw a video on ErikVorhees new program Prism.

Is it just me or would it be way better on the bitshares network?

Welcome back out of hibernation!  :P

Yes I agree it can be done much better on Bitshares... part of their 1% monthly fees are based on the gas costs...

6
%-based fees (for smartcoin trading)  are easy to introduce, we just need broader support from the community. We already have 2 levels of accouts - lifetime members have 80% discount from all fees, you just need to do your math if it's worth
We actually also have the code (provided by [member=18687]abit[/member]) .. all it takes is some heavy testing (on the testnet) and a (approved) hardfork of bitshares.

Wrt. rate-limited transactions: The question you need to ask yourself is: Do we want BitShares to be a profitable business that takes a fee for the services it offers, or not? By this, I don't mean that we cannot have some of the transactions be free and others require a fee ... but BitShares is a DAC and most shareholders would be interested in this DAC becoming profitable .. not just through capital appreciation ..

Yeah I think there was a consensus in the community for rate-limited transactions.   We can probably keep the fees for asset creation, but the psychological appeal of frictionless trading and transfers is incredible.  We can think of the Bitshares blockchain as a resource/asset/platform that people need to buy into, instead of an income generating business which demands too much operational expertise to run anyways.  Income is also just burned.  Making the platform a resource/asset creates greater alignment for users of the platform rather than rent-seekers.    Ultimately the greater alignment there is with users, the greater overall value the blockchain will have. 

7
Hey all.  I think it would be good to try to lean much more towards the lower side of fees so even if prices go down and fees are lower than 1 cent it's ok.  Right now fees are closer to 10 cents and for a payment business like the one I'm running that's some friction.  The community was overwhelmingly in support of zero fees + rate limited transactions... I think that's the best model because users won't see the fees and the businesses essentially buy bandwidth in the platform.  People will buy BTS as an asset (rather than an income generating business), just like EOS and Steem. 

Zero fees and rate limited transactions are a nice feature, if it would help your business, why don't you create a worker proposal, hire some developers  and implement it in BitShares?


Sure that would be a great long term plan, but it's just much easier to reduce the fees in the short term. 

[member=18687]abit[/member] has developed code for zero fees + rate limited transactions, but there were some design issues [member=29285]theoreticalbts[/member] had about the implementation.  See below:

https://github.com/cryptonomex/graphene/issues/603
https://github.com/bitshares/bitshares-core/issues/186

"One of Graphene's design principles is that the fee paid may be calculated based on the operation alone. This greatly simplifies wallet implementation and our wallets heavily rely on it. Adding the operation as a parameter to pay_fee breaks this design principle."

I think it can be done pending this:
https://github.com/cryptonomex/graphene/issues/554
https://github.com/bitshares/bitshares-core/issues/167

I agree we should find someone to resume the pending issues and can probably get this implemented.  I believe [member=29285]theoreticalbts[/member] is working on Steem right now so we need to find someone else who can work on this. 

8
 +5% Wow amazing presentation! You should do a lot more presentations [member=6]Stan[/member]!   You are really thinking big! 

9
Hey all.  I think it would be good to try to lean much more towards the lower side of fees so even if prices go down and fees are lower than 1 cent it's ok.  Right now fees are closer to 10 cents and for a payment business like the one I'm running that's some friction.  The community was overwhelmingly in support of zero fees + rate limited transactions... I think that's the best model because users won't see the fees and the businesses essentially buy bandwidth in the platform.  People will buy BTS as an asset (rather than an income generating business), just like EOS and Steem. 

10
Thanks for signing up cashnike3!  I sent you 1 bitcash. 

Lol.. transfer fees are 12 cents now... I guess it's still not as bad as Bitcoin right now.. :P

11
Hey all! 
So we have our Bitcash Trade beta up at: https://trade.bitcash.org 

It's somewhat similar to Shapeshift, Metaexchange and Blocktrades, but we use the bitcash Smartcoin to make it easier for people to buy Bitcoin, Ethereum, Steem, Bitshares etc. since everything is priced in dollars.

We also have our Bitcash Wallet up at: https://m.bitcash.org

There is a feature in the wallet that allows people to buy bitcash by connecting with others by phone/text using methods like Paypal/Venmo/Square Cash/Bank transfers.

Just looking for people to check it out and give feedback.  Let me know your bitcash account and will send you 1 bitcash to test the wallet and trade.    Thanks! 

12
General Discussion / Re: BitShares crowd at Consensus'17
« on: May 17, 2017, 08:21:41 am »
Hey I'll be there!
We Bitshares guys should have a get together for lunch on the 24th?

13
Hey all...

1)  Last year we had 93.8% in favor of BM's "zero fee" proposal. (75 out of 80 votes).   I'd like to make a push to implement this.    That's as unanimous as you may ever get in this community.  BM wrote a blog about it here: How to build a decentralized application without fees.

2) [member=18687]abit[/member] has already created an implementation of this feature that works! See here: https://github.com/abitmore/bitshares-2/tree/bts2-bts-limited-free-trx  Thanks [member=18687]abit[/member]!!!

I'd like to make a push to have a vote on this and have this implemented as a priority in the coming weeks! 

That will solve a lot of the complications around fee structures and the current variable and high fees we are experiencing .  What do you guys think? 
 

15
please not another thread about fees

What was the last thread on fees?  Do you have a link?

Pages: [1] 2 3 4 5 6 7 8 ... 45