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Topics - EstefanTT

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1
General Discussion / Bit20 / Twentix ownership transition
« on: July 30, 2020, 06:56:32 pm »
ANNOUNCEMENT


Background. Bit20 (BTWTY) has been operating as a transparent representation of the largest market capitalization cryptocurrency projects continuously over five years. Because the assets themselves function as public and open DAOs, anyone is free to access the published feeds and create their own contracts on the BitShares blockchain. The project has always had a team monitoring and updating the parameters of the index.


Over the years, the team behind Bit20 has responsibly maintained the software and governed over fair value pools. Further, they have taken on increasing responsibilities while releasing a series of projects (Bit20, Twentix, Blocktivity). After long consideration in conversations EstefanTT will shift day-to-day operations of the BTWTY & TWENTIX asset & website to JohnR. After this transition JohnR and a small team will continue operation of the assets including maintaining community communication. First priority will be improving the asset from global settlement. Ensuring full value for token holders is first priority.


Management: The new operator for the Bit20 and Twentix indexes will be John Conlin.

“As the new operator of the Bit20 technology and its historical legacy, it is my primary concern that all holders and supporters receive the experience promised them when the project began. I’ve been a frequent poster on bitsharestalk.org, served as a Committee Member, and cultivated meaningful relations with other individuals and businesses. I care about a reputation for honesty and will put significant resources behind this project – aligning my incentives with fellow token holders.”

“It will not be easy, but I look forward to helping the Bit20 DAO reach greater success than ever.”

Estefan & I will answer any questions of both current token holders and prospective token holders.

John
Telegram - @nonfungible_john
BTS – “johnr”

2
General Discussion / [hangout feedback] Worker proposal idea
« on: January 10, 2017, 11:07:24 pm »

[member=38926]Chris4210[/member] mentioned in the hangout that I had a good idea for the workers but didn't explain it. I couldn't recall what was that idea myself. After some painfull brain digging, I think I recall now.

I thought at the time that the idea wasn't good because nobody noticed it in telegram but if Chris still remembers, it's probably worth the time to write it down in the forum.

My idea was to create a worker that takes the funds from the reserve pool and send them in a multi-sig, committee, trusted members, whatever high trust account. Let's call this account the "X-account".

The money would accumulate slowly on this X-account.

Once we have this worker rolling, we create a list of all the beautiful things we want for BitShares, small and big things, all we can dream of.

With a voting mechanism (maybe steem ?) we determine how much money the whole community (Chinese also) would agree to pay for each feature (delicate work).
Once we have the maximum budget for each feature, we can publish this list everywhere where there are developers.

After that, every time we have one dev interested to implement a feature of the list with the defined budget, we would already have the money sitting on the X-account. When the work of the dev has been done and verified, we can release the funds.

This system would be some kind of momentary system to get things moving. A big problem now is that is very risky to create a worker. With BTS at 0.05$, any workers going to add a little something to BTS will be voted in and kept until completion.

I'm not sure how we could pull this out or even if it's a good idea but here you can brainstorm if you like it ^^

3
I've just listened to the BitShares special Hangout.

The fees actual structure have been mentioned but without further thoughts. Someone said something like "didn't we have kind of a solution for that?" and the conversation on the topic died.

Just as a reminder the solution we've encountered a while ago was a very good one !!!

The conclusion was that the best way to handle fee without killing the referral program was to have a hybrid system with rate limited Tx and percentage based fees.

I'll use an example with BTS to explain it :

A transaction from 0.00001 BTS to 200 BTS has not fee at all. (Micropayment possible !)
A transaction bigger than 200 BTS has a 0.1% fee (no one will ever complain to pay 1$ on a 1000$ Tx nor to pay 100$ to move 100,000$)
We could also have a top cap. Tx higher than 100,000$ keep that 100$ fee for example.

To avoid the possible attacks allowed by the Free Tx, we limit the number of transactions someone can do in relation to your funds in BTS (rate limited Tx).
So the more you can abuse the system, the more BTS you need to have in it ... and the less you want to screw it up ;p
It also implies that any company on BTS should have some fund in BTS if they plan on having lots of Tx.
I don't know how they manage that part on the Steem blockchain but their solution may also be interesting.

Having this new system give another chance to the referral program. If you refer a person who will, in a no so distant future, pay its gasoline, cigarettes or groceries with Blockpay, they will produce much more fees that what they would have with the 2015 stable fees structure.
Let's imagine a person who is using crypto for gasoline and from time to time for other stuff in a typical month. Gasoline twice, 10 cigarettes boxes and a couple of groceries at the local small shop accepting crypto. That would be around 250$ paid, so around 0.25$.
60% of that goes to the referrer, so around 1.8$ a year.
I think that it would be enough to motivate people to start again thinking to promote BitShares!

The trading on the platform could also take 0.1% and free order creation and cancellation. Other feature on the platform could integrate this system and produce more and more fees for the referrers.

A Little story to show how reviving the referral program is important. I spent months on building Bitsharesfcx.com website. I started with learning HTML, CSS and some PHP from knowing absolutely nothing .... really nothing, not even what <p> or </br> meant !!! My two friends translated the whole BitShares.org website, the BM blog, flyers, infographics, articles.. we've also translated the book from Max Write.
We have done all of this because we thought BitShares is amazing, we want to help to spread the word and BM just had given to us the perfect tool, the referral program. We made the math and we concluded we could invest a shit load of time in the website. We were going to be the gateway for the millions of people that speak french but not English well enough to learn about BitShares in the next years.
Well, since the referral system has been put in sleep mode, there is a very perceptible lack of motivation in our team and it's very understandable. We are also in sleep mode, nothing has really changed for the last year or so. We may have spent all this time for nothing, that isn't the kind of thought that gives you the motivation to keep working.
If the referral program would be back, providing a way to produce incomes by promoting BitShares, we would probably end up beeing back on the project.
Conclusion, the referral program works, the problem is the current fee structure.

I wanted to share my experience and summarise what I still have in mind about this topic so we can include it in the [member=38926]Chris4210[/member] BitShares improvement list.


4
General Discussion / Brainstorm - Bit20 MSSR / margin call
« on: January 04, 2017, 09:48:58 pm »
Hello everyone,

The BTWTY market has been growing nicely these last first days of its existence. It still a baby market but I intended to keep it that way for its firsts steps into the world. As soon as I'll feel comfortable enough with the settings, I'll start promoting it in a more intensive and extended way.

With that said, the market just had its first margin called order and that brings an important question. You can see it in the next snapshot:



This brainstorm will probably be useful in the future for other BitShares smartcoins that will trade with an important premium.

The "problem" is the next one. The margin call order is sitting way behind the first buyers. If the market keeps trading BTWTY that high compare to the price feed, this order will never be filled.
In that case, if the price of BTWTY keep growing and BTS remain stable, a black swan event will be triggered at some point. We are still far from this possibility but something has to be done in order to diminish the probability of such happening.

My first reaction was to consider increasing the MSSR. It is at 110% at the moment.

Yvv from this forum share with me the fact that :

"The problem is that when you increase MSSR, you increase a safe collateral ratio too, which is equal to MSSR*MCR. This may fix the margin call problem in short term, but it may have negative impact in long term, because collateral ratio is what determines leverage (lower CR = higher leverage). Higher leverage (lower CR) makes shorting more attractive. This issue needs some good brainstorming before taking any actions."

The margin call mechanism is complex and sometimes confusing. I would love to have you opinion on the situation.

 




5
General Discussion / Bit20 - The cryptocurrency index fund
« on: December 19, 2016, 01:54:31 pm »


But how exactly is it made, what are the coins in it and how can I invest in it?

I'm here to share with you this promising blockchain project and answer all your questions. 

I wanted to create a tool that allows anyone to invest in the global economic growth of cryptocurrencies without a headache. Just buy something that will track this soon economic Cambrian explosion.
This tool had to be decentralised because we all know how centralised projects dealing with money end up, especially in the cryptocurrency world. So my team and I have created a cryptocurrency index fund (ETF like).

I want to spread the information about this index fund in the crypto community so everyone can invest in a great asset that will grow as the cryptocurrency global market grows. Not something going up and down wildly, but more something like a monster slowly waking up and devouring the fiat money markets.

I want it to be a place where you can store your value with a high probability that months later, you will still have your investment intact and a nice return on investment.

I also want to spread the word out of cryptocurrencies. My plan is to start with the cryptocurrency savvy crowd and then move on to trading forums, forex, stock markets and others. This is how I aim to make new money comes into this space. The bigger the index daily volume will grow, the easier is going to be to promote it and make people interested in crypto.

The index took almost a 2 years to be fully tested and heavily reviewed. It´s finally ready and has been officially launched on the BitShares decentralised exchange on 16/12/2016. The index is fully decentralised and every Bit20 will always be backed by a minimum of 175% of its value.

Here is the evolution of Bit20 ober the last 18 month in $ :



This is 100% secure, 100% decentralised, 100% pure cryptocurrency !

If you have any question, please have a look on the website at the "FAQ"  or "About Bit20" tab. If you don't find what you are looking for, I'll do my best to answer you in this post.





6


I've been silent about it during these last months but I have been working hard in the shadow.
Everything is finally done !
We have the website ready to be officialised and the last piece of the puzzle previously missing, we have the price feed python script ready to be used by the witnesses.

We will provide all the information about the way the index is made, how we build its composition, how often and how the revision is made, ...
We will also provide the source code in the website after seeing that everything is working properly.

We just need one more thing to have this new smartcoin running on the BitShares platform in a decentralised and trustless way ... some witnesses !

If in the future, there are hundreds of people running smartcoins in BitShares and asking the witnesses to publish their feed, we will have a problem.
So we though, witnesses should be rewarded if they provide a service.
That's why we decided to allocate a % of our future revenue of our market to the witness.

We need at least 3 witnesses producing the price feed to launch the smartcoin and be able to say that it's decentralised. As our market will grow, we will increase this number to add more security, decentralisation and robustness to our system. 

We will start giving away 3% of the market revenue to the first 3 witnesses producing our price feed.
It won't be much at the beginning but this market has a tremendous potential.

When we will increase the number of witnesses, we may simply divide this 3% between them or add some more % to the reward pool. This has still to be decided.

Why would a witness want to produce the feed ?

Bittwenty has been created to be a stable and strong index. It's not gonna be the best index out there but it's made to last and to be a reference. I intend to promote it in the cryptocurrency communities but also out there into the wild world of finance. I see Bittwenty as a tool allowing people who want to invest in cryptocurrencies but don't have the time to read every single project. I also see people using it as a  way to keep money but with lower volatility than a single cryptocurrency.
It has the potential to grow and produce hight income through the market fees.
They could benefit from these fees and have a bonus next to their witness pay.

Why would a witness want to be one the first ones to produce the feed ?

The first witnesses to produce the price feed will have a guaranteed place in the witness team producing this price feed.
(this is obviously true only if the witness keep producing the price feed)

Later on, I may produce an UIA to symbolise these % of the market revenue and distribute them but at the moment I'll simply ask to trust the Bittwenty team.
Anyway, the market still has to be launched and to grow, the rewards will be tiny at the beginning.

We will simply give the reward promise to the first 3 witness able to produce de price feed.
It should be very easy as everything is already done and coded.

I'll send the python script to any witness wanting to give it a try. It should run smoothly with only a couple of evident changes in the script.
I'll provide explanations through mail or skype if needed. 

If interested, please contact me at bittwenty @ gmail.com

7
General Discussion / Finally a FIAT : BTS market with liquidity !
« on: July 14, 2016, 05:33:33 pm »
The BitCNY : BTS market is doing very well !

I have been waiting for a while to start trading in the DEX BTS Vs a fiat currency, to do some day trading (noob style). Until now, the liquidity wasn't that good BUT it has changed !! Now, it's really possible to do that on the CNY market ! That's amazing !


Now it's possible to day trade without being worry if there will be a way to sell or buy and the right time.
I'm not a pro trader (very far from it actually) and there is obviously still a lot of improvements to be made in the DEX and at the liquidity level but this is a very nice improvement !

It may looks like just an increase in liquidity in one of our market but I see it as an amazing step ! Liquidity will bring more liquidity, then the other markets (USD, EUR, ..) will catch on !

Just wanted to share my excitement and let the readers of this forum that it’s now possible to easily trade BTS : stable fiat money in a decentralised way !!!

BTS : CNY




8
General Discussion / Security of crypto funds.
« on: June 17, 2016, 12:28:40 pm »
With BitShares, even if we are no anonymous, we can set a multi permission layer on an account and have  the peace of mind that our funds are safely guarded by more than one laptop at home with a password. That's cool ! But who here have just and only BTS in his portfolio ????

Let's not forget criminality exists. Why steal someone who has a vault at home without knowing what is in it when you can steal anyone who has crypto currencies.

Let's imagine the crypto currencies keep on going up. In a year or two, it wouldn't be complicated just by reading this forum to know who is a good target.

I had the oportunity to have a cheap laptop and I want to configure it so I can use it as a multi wallet station.

I'm not rich (yet) but if the cryptocurrencies keeps going up, I will feel unconfortable by the idea of having more than a couple hundreds € at home.

I didn't use linux a lot and I don't feel I understand enough of it to have several wallets there.

So my plan is to install windows 7 (collecting much less info that win 8 or 10)

Disable almost anything on the laptop that can give up information.

Maybe use a VPN when I deal with my wallets.

Only use ethernet cable, no wifi.

Install my few wallets.

That would be some sort of cold storage system.
I could even let the computer in another place that my own house so it would be perfectly safe, the passwords in my head and the laptop in another place.

This post could certainly be very positive for a lot of us that probably don't use enough anonymity and security playing with crypto currencies.

For the ones who would recommend linux, I guess that if you are good with this environment you are techy enough to set it up by yourself. I'm looking for a solution that anyone can set up on an old laptop with windows.

Any suggestion or ideas are very welcome.

How would you set your system so you are peacefully at home knowing that BTS is worth 0.10$ and you made X40 ROI on your ICO of LISK ?

 

9
Hey guys,

I wanted to do something about the bad perception and negativeness around BitShares. 
I wrote this article to try to change it.

Please upvote and share it.

Let's try to get this article read by (A LOT OF) people outside of BitShares.
It's a small step towards better understanding of BitShares. Let's make it count ;p

Cheers and enjoy !

BTS talk forum don't let me past the link.

If someone knows how to do it, please explain to me, I'll change the link.

Here is the link : https://steemit.com/bitcny/[member=32961]EstefanTT[/member]/why-bitshares-is-not-already-worth-1-billion-dollar-

You can copy-past in your browser ( sorry )
[/color]

Edit : If you don't want to copy past the link you can go go down and click on the link Tuck Fehman provides in his answers.

10
Well, I'm not completely sure it's a good idea ...

Here are the top 80 richest bts shareholders not voting.

( http://richlist.btsgame.org/#/richlist/bts )

mcxcwbts 11,107,976
goldsix 6,050,401
ubris 6,000,000
miso69 4,833,076
lambda1 4,063,036
deepweb 2,974,341
jaehyuk 3,876,514
andrewmiao 3,786,080
tomliu 3,719,558
go-danny-go 3,533,157
mike-primorac 3,479,329
bts-ats8088 3,778,135
freggieleggie 1 3,401,362
brentallsop 3,247,576
zy360 2,891,468
bts-fruitsalad 2,804,446
operations.hyperetas 2,626,603
rand1 2,586,347
thread 2,553,716
hardfork 2 2,545,413

Which is 76,201,801 BTS not voting.

I could have done this list much bigger and have much more not-voting-power.
I just want first to have feedbacks on that first.

My idea is to create an UIA named "voting", "shame", "participation", ... something like that.
Share this token to anyone who is willing to participate.
Then we can all send these "UIA reminders" to vote to these accounts that are not voting.
In the transaction, we would add a memo saying something like : "Remember that voting for proxy or workers helps the natural growth and health of BitShares and your investment." And we also add a link to a youtube quick video on how to vote.

In the event of a community agreement on that idea, I would create the UIA (the name would be chosen in this thread) and put it for sell in the market at a ridiculous price so everybody can have plenty of that UIA for a a few bts and I would get back the 7K bts paied for UIA creation fee.

Do you think it's a good idea ? Can it be improved ?

If you think it's a good idea, how many bts do you pledge (particpate, support the idea) to buy the UIA (I just want to make sure I can have at least a part of these 7000 bts paid in fees)

I think it could give us a tool to point out the accounts not voting and they would also feel the pression of the community suggesting that it could be nice to vote. It would be a gentle way to manage the voting apathy.

I would also add the UIA on http://richlist.btsgame.org/#/richlist/ so we could see the accounts who has received the more of the UIA-suggestion-to-vote.



11

In july, with a friend, we made an index (BIT20) composed by the top 20 crypto currencies by MC. Every crypto in the basket is weighted in the same way popular indexes like the CAC40 are. This way, Bitcoin doesn't move strongly the value of the index and the last of the top 20 have an impact on the index if its value grow. We also created an other index called FIAT10 who is made in the same way to represent the top 10 FIAT. So we have been able to compare BIT20 to FIAT10 and see the globale evolution of the crypto sphere Vs the FIAT money since July 2015.

The unofficial beta web site is only made in french at the moment but you can easily take a look at the graphs and the way the 20 cryptos are weighted.

Home page with BIT20 Vs FIAT10 : http://www.bitsharesfcx.com/bit20/homepage_fr.php
Individual crypto Vs the basket BIT20 : http://www.bitsharesfcx.com/bit20/graph_fr_4.php

A recent thread ( https://bitsharestalk.org/index.php/topic,21955.0/all.html ) open our eyes on the fact that it wasn't that complicated to create a BitShares smartcoin based on what we already have working flawlessly since july 2015.

After some reflexions we are decided to continue and push the idea forwards.

The next steps we have in mind are :

# review and re-review our code and make it flawless and bullet proof
# learn how to create the smartcoin and provide the pricefeed in a decentralised way in graphene (I'm already in touch with Xeroc who kindly propose his help)
# revamp the web site in something more proffesssional (only in english for the release), I'm already looking for a nice CSS template.
# get the maximum opinions, reflexion and feedback on the project from the community so we can do it in a smart way
# Officially launch the web site, create the smartcoin and commercialise it.

After this minimum viable release of the web site and smartcoin, we are considering to make the website available in several lenguages and add it other kind of crypto economical informations and graphs.

Anyone wanting to join the team is very welcome, PM me.

Number of users in here beleive that a well done index representing the global evolution of the crypto currencies could grow quickly. There is probbaly lots of investors looking for something like that so they don't have to read 50 forum everyday to know where to invest. I completely agree with them and think that could also bring value to BitShares itself. Let's imagine for a second that this index would grow to be a very liquid, deep market, well-known basket or index in which you can invest in the global evolution of crypto currencies ... BitShares would sky rocket !

The project is moving forward right now and will be done probably sooner rather than later.

The quality of the smartcoin and the website will depend in big part of the feedback and brainstorming we will have in this thread.
There is a lot to discuss. Things like the best options and permissions of the smartcoin, with what we'll back it or what could we have in the website besides what we already have in the beta version (Poloniex troll box, BitShares tweeter feed news, ... ?)
Even the name BIT20 has to be change because numbers are not allow for the smartcoins ... any ideas ?

As this could bring value not only to the smartcoin itself but also to BitShares, I hope we can all join our mind to come with a great index all together.

 




12
General Discussion / PebbleCoin, DPOS tiny new coin
« on: March 15, 2016, 07:56:13 pm »
I founded this little guy :
https://bitcointalk.org/index.php?topic=909624.0

It's traded on Poloniex. After a POW coin distribution they are now running on DPOS.
https://poloniex.com/exchange#btc_xpb

They had 21,500,300 coins ditributed at the end of PWO phase. CMC still don't have their MC but it has to be very low, something like 100 or 200K$

Anyone knows something about them ?

13
I have 150k PLS, I want them in BTC to invest on something else at the moment.

I'm struggling with the Yunbi process to verify my identity. It's the only place where you can trade them. I don't want to loose a couple of hour of my time to solve this.

So I will sell them 5% cheaper to anyone with a yunbi account wanting to convert them in BTC for me.

147543 pls x 0.001136 = 167.60$

5% off 167.60 = 159$

I will gladly give the difference of 8$ !

(The math can be done again if the price changes)

PM me if interested ;p

14
General Discussion / Interesting feedback on BitShares from an outsider ...
« on: February 28, 2016, 09:59:58 pm »
I was speaking on polo trollbox with a guy who beleived BitShares was a dead project. I suggest him to PM me in the forum so we could talk about it if he wanted to know more about this not-dead-at-all project. He kindly accepted and gave me his impression after going throw bitshares.org, read the web site content, created a wallet and start using it. It's very interesting and we could grab some important points on his experience.

Here comes the message :

My recommend:

- Make a list of tasks that you think users should be able to perform
- Find some trial users that match your demographics
- Ask them to video record their session trying to perform the tasks from your list
    (randomized order is best but that's a dev thing from unit testing)
- Watch the videos and try to understand where the user is faltering vs succeeding
- Revise the UI to be more demographic attuned

I haven't studied your back office stuff (block chain & other implementation aspects) but the website promises a lot of features with clean, clear descriptions and iconography and the Wallet app just... has a bunch of fields you have to figure out

Some critiques on the Wallet app:
I have two accounts now (one several months ago and one yesterday) and can't tell how to switch between them
When I made my new account yesterday I put 100% in for witness fee because I didn't want to dig through the site and forums to understand the semantics of what I was deciding or how it affected my acct
Assets in a giant scrolling list all blend together and don't encourage investigation
Transfer has To, Memo and Fee fields but no amount field... send is disabled and nothing changes but the icon if I put my other acct as the To target
There isn't any nested context for the app navigation so the highlighted tab doesn't really reflect what I'm doing... only way to poke around is blindly clicking things that look like options and then hitting back to find familiar screens
Landing page assumes you know what each app is about, I have to leave the app to figure out what a witness vs committee is or click in to explore
I click on witness and it's like a Polo screen... maybe great for power users but there is no context or tool tips to understand that this is the runtime for the delegated proof of stake (which I only know from reading lots of other docs)


Check out the docs and follow the tutorials from the Maid release.

It doesn't actually do much (and several people in the box, including myself, were unimpressed with the features set comp to say eth) but the tutorials are clear, the call to actions are obvious, it felt good to use.

For what it's worth, hoping the honest critique is helpful.

15
Muse/SoundDAC / Half of my NOTE missing when importing in MUSE
« on: January 29, 2016, 02:58:09 pm »
Hi,

I imported json file from 0.9.3c in the last release of the MUSE client, enter the password and after a while it shows around 40k keys and my balances to claims.

The total of my MUSE to claim is about half of what I had in NOTE.

I was one of the members who couldn't import in BTS 2.0 because if the high number of keys.

I didn't hit the import button, tried it a couple of times to be sure and here I am ;p

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