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Topics - JonnyB

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General Discussion / BitCNY Force settlement offset still at 5%?
« on: January 15, 2018, 04:30:35 am »
Back in November we were told that adjusting the Force settlement offset to 5% from 1% for BitCNY would be a temporary measure while feed prices were sorted out. Yet here we are almost 2 months later and it's still at 5%. see here:

In my opinion it's pretty reckless to be so relaxed about such a fundamental change the settlement peg.
If we want people to trust our stablecoins they'll need a history of consistency to make it trustworthy.

5% offset was acceptable as a short term emergency fix but the fact nobody seems to care its still at 5% 2 months later is a big worry for me.

1 BitCNY should not be pegged at 0.95 BitCNY


Listen live here:

Mumble can be a pain in the ass for those who are new to it and most people only attend to listen.
By live streaming on you tube we can reach a wider audience.
other benefits include having a countdown timer to the livestream and after the stream has finished the stream archive is ready to listen to immediately.

heres the link to the associated steemit post:

Our stablecoins/MPAs/BitAssets cost more than they should do.

The purpose of a stablecoin like BitUSD should be to track the price of USD.
Our BitAssets are successful in making sure the value never drops below the price feed that the asset tracks. (This is because anyone can force settle BitAssets for BTS if there are no willing buyers)

But there is no mechanism to stop the peg drifting above the feed price.

Most BitAssets are constantly trading at a premium to the asset they track and sometimes this premium is up to 20%.

If we want people to use BitAssets surely we need to fix this. I mean why would you want to pay 1.1 BTC to buy 1 BitBTC or $1.10 to buy 1 BitUSD?

OK i've got a new idea.

If we want to increase the supply of BitUSD and BitCNY we need to encourage people to borrow it in to existence and spend it.

The best way to encourage people to borrow MPAs into existence and spend them would be a financial incentive.

AKA Negative interest rates.
So the opposite of HERO which increases by 5% a year. We create an MPA that loses 5% each year.

This is what many central banks have been talking about doing for a while but can't because physical inhibits it.

Why would someone want to hold an asset that loses 5% a year?  They won't want to hold it for long but they will like it because theres a lot of it available. Not wanting to hold an asset that has a large supply will create good liquidity.

Why would there be a lot available? Because anyone who borrowed and spent it would have a margin position that would get smaller every year.

Still thinking this idea through in my head, but theres potential here I'm sure.

General Discussion / Telegram channel is turning to shit recently
« on: September 12, 2017, 08:52:14 am »
Theres been a large influx of noobs to the bitshares telegram group. While this is great news for Bitshares in general it's a shame theres so much spam talk and simple "when moon?" type comments. I've noticed a few other BTS telegram groups have sprung up and I've even created my own UK bitshares group. Also the bitshares discord group is becoming more and more popular.

I'm a silent viewer in the dev group but notice other non devs talking about non dev stuff which is surely annoying for the devs.

Maybe we need a bitshares veterans group with no noobs.

If you have a more niche bts group that you'd like more people to know about maybe post it here.

I found documentation about importing a bitcoin private key into bitshares

If it is possible to have the same private key for both a bitcoin account and a bitshares account could you then use your bitshares account to sign bitcoin transactions?
I'm contemplating the concept of using a bitshares account to sign bitcoin transactions
You could also broadcast a bitcoin transaction by putting it in the memo and sending it to a specific account.
 Which would open up payment channels/lightning network

imagine 2 separate BTS accounts opening a bitcoin payment channel with each other
 and both re signing a new 2 of 2 transaction everytime a witness updates a feed price.
You could have a bitcoin payment channel contract between 2 bts account that would promise one of them $100 of bitcoin and the other $100 loan of bitcoin.

General Discussion / How would Trezor work with Bitshares?
« on: September 10, 2017, 04:12:30 pm »
There's been much talk of Trezor integration in the past and it's certainly possible.

But how would it work? Would it work natively with the website as shown in the image below or would it work natively with the webwallet/lightwallet to protect your private key/s ?

Might get complex because of multiple private keys and many tokens

General Discussion / How can we simplify the Withdraw/Deposit page?
« on: July 17, 2017, 01:58:20 pm »
To my eye there are too many options and selections to be made when depositing and withdrawing from the bithares dex.

I don't see the need for openledger to display gateways other than its own. It would greatly simplify things.

Gateways and Bridges are different operations but I don't see why they can't share the same GUI.
Specifically the blocktrades bridge GUI could serve as a gateway for openledger assets aswell.

The deposit/withdraw page could just be this:

Your thoughts?

Each witness is getting paid $1200+ because of the price rise.

They used to get 1.5 bts per block  but this was doubled this year because the bitshares price was so low.

Now the bitshares price has nearly tripled so has the witnesses pay and every witness is receiving $1200+ worth of BTS every month!

A long term fix would be if an agreed $ payment could be paid to them in BTS each month. But that idea deserves its own post.

General Discussion / Adjusting how bitshares fees get distributed.
« on: April 11, 2017, 04:58:36 pm »
All this talk of dividends and interest payments seems too complex for shareholders to understand and agree on.

Could we perhaps agree on something more simple.

Current fee allocation:               Proposed new fee allocation:
20% -- network                            50% -- network
80% -- referral                              50% -- referral

New "steemit style" login, "quick buy" options ++.

New login model

There are several big changes in this update, but the biggest one has to be the addition of a new method of accessing your account. Similar to how Steemit handles password based login, the new method lets you set a password (preferably a very long one) that is then used to generate your private keys. As in Steem, the formula is account_name + role + password. This allows you to login from anywhere, completely bypassing the original method of having a wallet that is stored in your browser.

The advantages are:

Ease of use
Reduced complexity
As long as you choose a sufficiently long and complex password (use a password manager!), your keys are safe.

If you already have a regular Bitshares wallet, you can migrate to the new model (or use it in combination with the old) by using the 'Account model' form located under Account -> Permissions.

Quick buy feature

One of the problems new users of Bitshares have is getting funds into their wallet. Recently I added a quick deposit/withdraw feature to the account home page, and now I've added a 'Quick buy' feature using the Blocktrades API. This lets users quickly purchase BTS/bitUSD/bitCNY among others using their choice of external coins, such as Bitcoin or Ether. The external coins available to be used depends on the Bitshares asset you're wanting to buy; while BTS can be bought with BTC/ETH/DASH and STEEM, bitUSD can only be bought using BTC for example. is already up to date, and you may find light clients here:

Full list of changes below:

New features

Add password based login using account+role+password as private key seed
Add a Migration option to add password based keys to an existing account
Add password strength checker to password input
Update account creation using password login method
Use AccountImage in header instead of User icon
Add language selection dropdown with flag symbols to Header
Add a 'Quick buy' modal for blocktrades bridge deposit requests
Add blocktrades bridge deposits to the Exchange Buy/Sell box
Make OPEN.X trade links default to X_USD pair
Add CSP policies for improved security
Allow users to disable auto-lock by setting timeout to 0
Include OPEN.DASH as one of the default assets available for deposits
Restore the small depth chart
Move the 'borrow X' buttons to the Buy/Sell boxes
Bug fixes

Add a wallet creation link to WalletUnlockModal
Fix some missing translation
Ensure all href links have window.opener clobbered
Remove TCNY deposits
Add vesting_balance_withdraw to ProposedOperation.jsx
Fix the calling of calcMarketStats in onSubscribeMarket
Improve how low volume markets are determined, add OPEN.DASH
Fix some pricechart resizing issues, put all controls on the same line
Tweak the dropdown css
Improve the price calculation of getMarketStats
Add missing translation of deposit withdraw title
Refactor Create account layout, add some text
Fix some minor header and Chat issues
Add missing translation key for supposed scammer accounts
Fix some possible issues in BlocktradesMethods and WithdrawModalBlocktrades
Wrap localStorage 'get' in try/catch to catch parsing errors, fixes Deposit/Withdraw issues for some accounts
Adjust the xAxis range for depth charts with no bids but asks
Fix blocktrades dropdown colors
Make the openledger fiat registration open in a separate browser
Fix some minor issues in Header and WithdrawModal
Fix transfer asset selection dropdown not showing more than 9 assets
Adjust the positioning of the cog header dropdown
Remove the borders in the electron header navigation buttons
Use default cursor to indicate account is not clickable with 1 account
Fix error when clicking on Header account with only 1 account present

THIS WAS ORIGINALLY POSTED BY SVK HERE:[member=11456]svk[/member]/bitshares-gui-release-2-0-170327

General Discussion / Btsbots video tutorial
« on: March 26, 2017, 11:11:27 am »
Btsbots lets you run your own market making bot on the bitshares dex

it is both a a web app ( and an android app (

This is a very basic video tutorial that alot of people have been requesting

General Discussion / Marketing, Marketing, Marketing
« on: March 18, 2017, 01:49:50 pm »
Bitshares is leaving its conceptual beginnings and actually becoming useful and viable alternative to big centralised exchanges like poloniex.

- The User Interface is easier than ever to use (thanks [member=11456]svk[/member] )
- Pybitshares makes writing code that integrates Bitshares is easier than ever. (thanks [member=120]xeroc[/member])
- makes it easier than ever for anyone to be a market maker and provide liquidity. (thanks [member=4465]alt[/member])

We are at a milestone where bitshares is stable and actually works well, It is time to get this message out there.

It is time to pay for a dedicated and sustained marketing campaign.
A head of marketing for bitshares paid for by a worker proposal who would achieve the following.

- A brand new shiny website

- A dedicated bitshares conference

- A spokesperson who can arrange interviews with bitcoin press etc and appear regularly on podcast/youtube channels

- A concise and professional intro video as well as more tutorial videos.

- A regular social media presence twitter, youtube, fb, reddit, mumbles, forum, telegram

- Pay for some ad placements and evaluate the conversion sign up rate of each ad campaign.

- Report weekly to the community on what they have done and have planned for the next week.

I propose they should work full time and get paid approx. $2000 per month.
If we want commitment from them we would need to commit to paying them for at least 6 months with the opportunity to go full time if they produce results.

$2000k per month would be their monthly salary, but they would also need a big budget to get the tasks above achieved.
There would be no point in paying a head of marketing if they had no budget to spend on marketing.
Ideally it would be someone within the community already as bitshares has such a steep learning curve it would take too long to train them up.

Who would be up for this role?

This idea is bound to be controversial due to its cost (especially with the Chinese) but personally I think the time is right for something like this.


This is essentially a CDS (credit default swap)

1 USDT is an IOU for 1 real dollar in a bank account, this Omni asset token is provided by

Because it is an IOU theres always a chance that they could default. This default may happen due to Hacking, theft, incompetence, law, regulation, omni flaws, bitcoin blockchain flaws, unknown reasons.

If you hold a lot of USDT you may want to insure yourself against this risk of default and thats what my prediction market asset allows you to do.

The insurance premium is set by the market.
I have made a bid at 2 % of the payout value as thats what I'm willing to pay for this type of insurance.

I believe this is a good use case for prediction market assets and will offer default insurance on OPEN.BTC if there's a demand for it.

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