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Messages - JohnR

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Stakeholder Proposals / Re: [Witness Proposal] iamredbar
« on: January 23, 2021, 09:51:43 pm »
I support witness iamredbar, a great stakeholder and representative of BitShares!

Very nice! This is great to see a useful tool for BitShares features.

General Discussion / Re: BitShares Shorting Attack Avenger
« on: April 27, 2020, 12:05:29 am »
The game theory is interesting here. If a strict majority of stakeholders utilized this in short positions it may require a lower effective collateral ratio.

With BEET integration?

This is a priority. Secure and uncompromising UX.

- edited - BEET Works!

Fully support this plan for Phase I of Core Development.

Stakeholder Proposals / Re: Decentralized 2019 Recap
« on: November 08, 2019, 10:32:30 pm »
Great work here. Thanks for organizing and speaking guys.

General Discussion / Re: Committee Fund Operation Review
« on: October 20, 2019, 01:36:37 pm »
This is a good time to revisit the options on bitCNY.

General Discussion / Re: Abandon 100% peg?
« on: September 26, 2019, 02:51:25 am »
Thanks for these thoughts bitprofessor.

It's clear we will need many voices to solve this problem and return autonomy to the BTS DEX.

bitCNY's weakness are
1) expensive to 'create' and sell. Tying up >1.6x capital that could be invested elsewhere for more reliably positive returns over any time period.
a) two options here - lower required CR again or offer some earning to those who create and sell BTS' most prized asset.

2) lack of alternative liquid trading pairs besides bitCNY:BTS. In fact this circularity between the most liquid market and the feed price stemming from CEX opens up the potential for manipulation in the first place.
a) this one is harder - to decouple from CEX price feed is not trivial. I do think we have the technology through time locks to offer a more robust mechanism for price discovery on-chain.


October 2019
Put Option - OPTIONS.19OC020P
Strike Price - 0.20 BTS/CNY
Date of expiration - 20 october 2019 17:00:00 UTC.

Technical information :
This option will cost 1 BTS if the price of BTS will be less than 0.20 CNY. This option will cost 0 BTS if the price of BTS will be more than 0.20 CNY

This option has two types of risk.
- Investment. It completely depends on the buyer and seller of the option, as well as on the current market situation.
Please familiarize yourself with the principles of option trading before making exchange transactions.

- Operational. The issuer of the option may provide an incorrect feed (0 or 1) on the expiration date, or not provide a feed (in case of loss of control over the account or for other reasons).

how the price is (will be) fed?

This OP is offering a useful service (option contracts) in a centralized commercial way (more power to him).

Bitcrab you clearly recognize the potential to feed in distributed feeds to mimic the same operation in a more decentralized way. This would be useful for long term project management on BTS.

General Discussion / Re: BitShares Online Summit - 10 OCT 2019
« on: September 26, 2019, 02:22:22 am »
This is a great initiative. Thank you Fox and contributors (translators).

Representing DaoStreet, I am interested to promote the use of Prediction (Event) Markets and Atomic Transactions. Most importantly I am excited to hear many diverse voices in a single venue.

General Discussion / Re: Cn-vote union question and answer
« on: September 15, 2019, 01:47:58 am »
Hello, thanks for writing this thread.

What is your opinion on third party exchanges voting with BTS deposits?


General Discussion / Re: Vesting Balance Leaderboard
« on: September 01, 2019, 08:32:28 pm »
We, as human beings, are unlikely going to create a utopian non-gameable system. We can at least make a system that is less bad.

General Discussion / Re: Pump100k
« on: September 01, 2019, 08:31:34 pm »
Considering BTS is supposed to be a permission-less system what's the issue?

General Discussion / Re: suggestion on new OMO fund
« on: September 01, 2019, 07:48:57 pm »
I would like to offer @bitcrab the chance to make a clear case for the objective of the OMO.

People are skeptical because it lacks a clear vision. Is it to maintain liquidity? Is it to pump the price? Anyone with a basic economics understanding can make a market.

Bringing this up after workers voted out gives the appearance that our largest stakeholders care about price > growth. This is a way to guarantee BTS long term value decreases.

I would like to believe the voters have the best intentions at heart. But we can't just fire employees and say now is the time for pumping our bags. That is like Wells Fargo CEO getting mega bonus after axing staff. The exact opposite principles of a DAC.

General Discussion / Vesting Balance Leaderboard
« on: September 01, 2019, 07:22:50 pm »
I am distressed by the recent division within the BitShares community. I am motivated to continue contributing and helping realizing the BitShares vision of granting financial autonomy to anyone with an internet connection. This is a good opportunity for everyone here to focus on what we have in common - the BTS core token and the network operations it enables.

Up to now, the network incentives reward large and sometimes aggressive collateral positions. Obviously this is one reason why BitShares of all cryptoassets is one of the most volatile as leveraging follows de-leveraging in cyclic patterns. I would like to see attention paid to another variable: vesting balances.

A high vesting balance, as opposed to a high collateral position, implies a high degree of interaction with the network. Whether that be offering liquidity in the form of limit orders or other creative transfer operations.

To shift attention towards this important metric I think it would be a good idea to establish a vesting balance leaderboard or other vanity display for accounts to compete for recognition as engaged users with the network. Maybe even down the line we can offer additional economic incentives for carrying high vesting balances (e.g. vote multiplier or any other ideas?).

For example one of our business accounts ( carries a vesting balance of almost 600 BTS in addition to other assets that have market fee sharing enabled (bitCNY/USD and Gdex assets). Yet this pales in comparison to some of the more active accounts (

I believe that using the network operations and holding a high vesting balance should be a point of pride for stakeholders. I think we should encourage and recognize the behavior. Keeping open the potential in the future for even rewarding critical users.

Thanks for reading. In the depths of darkness we discover true character.


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