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Topics - yvv

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Technical Support / Failed to broadcast the transaction:
« on: March 17, 2018, 08:29:41 pm »
While trying to borrow BTWTY

Assert Exception: !_bitasset_data->has_settlement():

What does this mean?

General Discussion / A way to mass adoption: consumer credit
« on: August 15, 2017, 04:09:50 pm »
Many people shop with credit cards. Banks issue credit to customers and customers use this credit to shop in different stores. Consumer credit boosts sales. With a minor modification, blockchain like bitshares could be used by merchants to issue credit to customers directly, without no middle men.

Every merchant can identify credit worthy customers. Suppose, such a customer wants to buy a smart phone. The merchant can lean the customer into buying a higher end model by offering a postponed payment. Suppose, the phone costs $500. The merchant gives the phone to customer and issues 500 credit tokens (CRED). The customer  gets the phone and -500 CRED on his balance. The merchant gets +500 CRED which he can sell on DEX for 500 USD. At this point the merchant is even: he gave away one phone and received 500 USD. The CRED has value, because it can be used to buy merchandise from the merchant's shop, and many people would prefer to keep their savings in CRED instead of bank saving account. To pay off his debt and to be able to shop again, the customer needs to buy back the CRED on the market. This removes the CRED from circulation and also insures that they have value.

This is a win-win-win situation. A customer who gets a credit is happy, because he doesn't need to pay upfront, and he doesn't need to pay high interest (perhaps, no interest at all). A merchant is also happy, because postponed payments increases sales of higher end merchandise, and he doesn't need to pay fees to VISA, and he fully controls how much credit he issues, interest rates, prices etc. CRED holders are also happy, because they have a highly liquid asset backed by real merchandise, which preserves its value over time as long as the merchant who issued them is doing good.

Please, discuss.

Technical Support / Annoying bug in web client
« on: August 13, 2017, 01:38:46 pm »
Withdrawal form randomly refreshes while I am trying to withdraw OPEN.BTC and during refresh substitutes the withdrawal address with wrong address, which I used a year ago and which is not valid any more. This is getting annoying. Does anybody else have this problem or is it just me?

Openledger / What's up?
« on: August 05, 2017, 02:19:59 pm »
Is openledger gateway back online after BTC fork?

General Discussion / Morning of sorrow
« on: July 22, 2017, 08:07:39 pm »
Today I send $800 worth of bitAssets to a wrong address with similar name with my own account. Ouch! I had a "Send" form opened with the wrong address typed in and I sent two transactions in a row. How stupid is this! I send a message with request to kindly return my funds back, but I doubt that this will happen, because the receiver account was inactive since it was created 8 month ago. I know that there is nobody to blame here except myself, but I also know that this mistake is not very uncommon, since people report something like this from time to time. I wonder if something can be done to reduce a chance of this kind of mistakes on DEX. In regular payment system you contact a support and they halt a transaction. On DEX, there is nobody to contact, but could something like conditional payment take care of the problem? Suppose, two accounts communicate with each other through a smart contract. First account sends a payment request, second account replies with payment, then first account sends back payment confirmation, then second account verifies that confirmation came from the same account where funds were intended to be sent, and then the payment becomes final, otherwise funds are returned to originator. Is something like this possible to make on blockchain?

General Discussion / Wallet feature request
« on: May 22, 2017, 10:10:56 pm »
Which should not be difficult to implement: when updating short position, be able to reduce a debt by entire available balance. For example, if I am 100 bitUSD short and I have 37.8796 bitUSD available, I'd like to be able to update my debt to be 62.1204 without using a calculator. Thanks.

General Discussion / ShapeShift Prism: smart coins on ehtereum
« on: May 22, 2017, 09:19:25 pm »
In short, its newest product, Prism, available today in closed beta, is less of an exchange and more a new way to trade cryptocurrencies, enabling users to create custom "prisms" by putting ether into a smart contract on the ethereum blockchain that is designed to mimic the price fluctuations of any of the hundreds of available cryptographic assets traded on exchanges.

Basically, you create a portfolio of different coins and shapeshift shorts it to you. You don't need to trust shapeshift, because your portfolio is secured by collateral in a smart contract, and you can settle it any time for ETH.

You need to try margin trading at other exchanges to see how screwed is bitshares shorting. I tried shorting at poloniex last night, and now very regret that I did not try this earlier, because it makes so much more sense than shorting in BTS. At poloniex, you deposit 1 BTC, and this allows you to short 2.5 BTC worth of any assets by simply placing sell orders. When your order is filled, BTC which you got from short selling, is added to your initial deposit to back up the debt which you just created. You settle your debt by simply placing a buy order. When it is filled, your collateral is transferred to other party and your debt is settled. This is how margin trading is actually supposed to work. You deposit only 40% collateral upfront, but your position is 140% collateralized.

The guys who coded shorting in BTS clearly had no clue what are they doing. To issue bitAsset, we need to deposit a double collateral upfront, and to settle the debt we need to deposit 100% on top of double collateral. This is ridiculous and defeats the whole purpose of margin trading, which is to trade large amount with small funds. MPA is a very nice concept, which is buried under flawed implementation. Shorting is a central piece of BTS monetary system, but it is totally screwed. This has to be fixed ASAP. BTS shareholders should hire somebody who has expertise in developing trading software, pay them well through worker and let them fix shorting and all other flaws. Before this is done, don't dream about mass adoption, because other exchanges offer much cleaner products.

Technical Support / Can't restore the wallet from backup in Firefox
« on: August 13, 2016, 11:36:28 am »
It says "Invalid Format". Same wallet file works fine in Chrome. What is wrong?

General Discussion / How was this trade possible?
« on: July 15, 2016, 02:10:15 pm »

At a time of transaction market price was around 4100.

Скажите им, что битрубль уже давно есть в bitshares. Он поломан, ему нужен прайс фид. Почините, сделайте рублёвый шлюз. И будет всем нам счастье.

General Discussion / Problem with trading on DEX
« on: March 10, 2016, 04:15:46 pm »
Suppose, I want to make market for bitSilver. I borrow 1 bitSilver into existence and place an order to sell it for BTS. After this, I can't place sell orders on other markets, Silver:USD, Silver:CNY etc... This is wrong. This removes liquidity from DEX. I should be able to place sell orders for 1 silver on multiple markets, and if one of them is (partially) filled, all others should be automatically updated to adjust to my available funds.

Technical Support / [SOLVED] Unable to load Trade page for some pairs
« on: November 25, 2015, 08:35:42 pm »
For example

hangs forever, although worked fine yesterday. Other pairs load without problems. Checked this in Firefox (ubuntu) and Chrome (android). Is this just me?

Technical Support / wallet recovery
« on: November 25, 2015, 01:40:07 am »
So, I made a back up of my wallet on different devices, but how do I prepare for loss of them? I saved a brain key, tried to recover my wallet using this brain key, it worked. Do I also need to save "active" and "owner" private keys on paper? How do I use them to access to my account in case of loss of wallet file?

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