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Topics - Brekyrself

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General Discussion / Why use fiat tied stable coins when you can use Gold instead?

« on: February 11, 2025, 08:22:08 pm »

Meet the honest.XAU smart coin. A derivative tracking the HONEST market value of 1 troy ounce of .999 percent fine Gold. All Backed by collateral held on the chain in a smart contract. Bitshares DeFi supercharges these smart coins essentially creating a Market Pegged Asset.

Phase 1: Be able to trade honest.XAU seamlessly between BTS, honest.BTC, and the stable coin honest.USD.

See the stats here: https://blocksights.info/#/assets/HONEST.XAU

How to get it?

Easy button: Trade for honest.XAU via the following liquidity pools

BTS / honest.XAU # 1.19.523
honest.USD / honest.XAU # 1.19.525
honest.BTC / honest.XAU # 1.19.524

Name your price: Use the DeFi Dex

Trade BTS for honest.XAU via the market https://ex.xbts.io/market/HONEST.XAU_BTS

Add to the ecosystem via borrowing & providing liquidity to the pools

Lockup your BTS as collateral to borrow honest.XAU for the best of both worlds. Go one step further and invest both BTS & honest.XAU in the liquidity pool to earn trading fee's!

Borrow:

Add Liquidity:

Where can it go from here?

Phase 2: Seamlessly trade between native assets such as BTC.
Phase 3: Real deal honest.MONEY. Created by being the gateway connection between all the smart coins such as honest.XAU, honest.BTC, honest.USD. Take a minute and study this map to fully understand the eco-system being created on the bitshares blockchain.

General Discussion / Bitshares Smart Coin Spotlight -- An Honest Ecosystem

« on: January 19, 2025, 06:17:16 pm »

The honest.asset eco system attempts to answer the age of question of how to create, distribute, and utilize sound money.

Let's face it, most blockchains such as bitcoin will never be used for day to day small transactions. This issue does not make bitcoin worthless, so why not utilize the value of bitcoin to provide the backing and collateral for an asset that can be sent worldwide, in under 3 seconds for a miniscule fee?

Why not have a native blockchain based stable coin backed by collateral everyone can see/audit?

Currently assets plugged into the honest.asset ecosystem are created by a user locking up AT LEAST 1.4x collateral, denominated in bitshares, to "borrow" the honest.asset. Here is one example how that looks: A user wants to borrow 10 honest.USD by putting up 3x the collateral of 21,000 bitshares.

With the honest.USD now borrowed by the user, they could send it anywhere in the world in under 3 seconds at a miniscule fee! An investor on the other hand, might place that honest.USD & bitshares into a liquidity pool to earn fee's from other users exchanges those assets.

Take this to the next step and by studying the map of honest.assets, you can see how all these assets & liquidity pools are tied together into honest.MONEY. Users and automated trading software continually balance out the prices of the assets by being able to move through honest.MONEY into any and all of the assets in the ecosystem.

Therefore, honest.MONEY becomes blockchain based sound money that is backed by the collateral users/investors placed to create the entire ecosystem in the first place.

What does the future hold?

Additional liquidity for each asset in the ecosystem.

Additional assets added to the ecosystem

Additional IN/OUT gateway's to exchange the native asset directly for an honest.asset. IE BTC > honest.BTC instead of BTC > gateway.BTC > honest.BTC. This reduces the users risk of being stuck with a non blockchain backed token. Gateways will eventually accept honest.BTC > BTC exchanges because honest.BTC holds value where as gateway.BTC is tied to a specific gateway, think Mt. Gox.BTC.

You can explore this ecosystem now by utilizing any of the bitshares wallets:

Decentralized Web Hosted DEX wallets (Make BACKUPS!)

https://ex.xbts.io/market/BTS_XBTSX.USDT

Android Mobile wallet

https://github.com/bitshares/bitshares-mobile-app/releases/tag/v7.18-android-bin

Power Users and Traders use Astro UI (need both parts to work)

General Discussion / Indodax finished dumping their 47m bts?

« on: January 16, 2025, 03:00:08 am »

Looks like Indodax dumped all of their 47m at once. Now just need Binance to finish selling their stash on Gate.

General Discussion / HOW TO: Bitshares liquidity pools - Earn fee's!

« on: January 11, 2025, 07:57:17 pm »

What is holding you back from staking your Bitshares in a liquidity pool to earn fee's instead of having them sit idle? By doing so you are providing to the backbone (liquidity) of what bts stands for, a decentralized financial exchange DeFi.

The steps below will vary slightly depending which wallet used, however all are quite similar.

Step 1: Learn about Liquidity Pools https://youtu.be/cizLhxSKrAc?feature=shared

Step 2: Start with which ever wallet you like best, TRY them all... ALWAYS BACKUP YOUR WALLET.

Reference wallet: https://github.com/bitshares/bitshares-ui/releases

The reference wallet does work however it is out classed by the following 3 options.

Web based wallet: https://app.xbts.io/#/pools

Mobile Android App (fantastic): https://github.com/bitshares/bitshares-mobile-app/releases/tag/v7.18-android-bin

Astro-UI is SIMPLE to use and beyond FULLY functional however you need both of these pieces of software working together. Once you see how these two pieces of software work together, you might never use any of the other wallets again:

https://github.com/BTS-CM/astro-ui

https://github.com/bitshares/beet

Step 3: Choose a pool

Now you must choose the other asset you will add to the pool along with your Bitshares.

One of the most common trades for all blockchains is going TO AND FROM stable coins. For example Bitcoin > USDT when you feel the price of btc will fall and back from USDT > Bitcoin when you feel the price of btc will rise.

One such smart asset stable coin on the Bitshares blockchain is honest.USD.

Knowing this, the honest.USD smart asset stable coin and BTS pool should have high trade volumes compared with a pool of lesser known assets.

r/BitShares - HOW TO: Bitshares liquidity pools - earn fee's!

Step 4: Acquire the other asset

In this example, the easy way to acquire honest.USD is to simply use the pool itself!

https://app.xbts.io/#/pool/HONEST.USDBTSMM

Exchange however many bitshares for the desired quantity of honest.USD. Try a small amount, under 5000 bts. Now you hold both assets and are ready to add them to the pool.

The better way to do this is by utilizing the foundation of smart assets themselves. Why does honest.USD have value? This method requires additional BTS that will be locked away until you return the honest.USD you created...

Browse to the bts / honestUSD MARKET.

Click BORROW.

You must place AT LEAST 1.4x collateral to borrow. Use 3x for this example and put 21,000 bts as collateral. This allows you to acquire ~10 honest.USD.

Borrow (create) the asset.

You now have 10 honest.USD

r/BitShares - HOW TO: Bitshares liquidity pools - earn fee's!

Step 5: Add assets to the pool

Browse to the pool in whichever wallet you are utilizing: https://app.xbts.io/#/pool/HONEST.USDBTSMM

Add both assets to the pool and you will receive x amount of the pool asset: HONEST.USDBTSMM.

Step 6: Monitor the pool over time

You can now keep an eye on the pool over time to see how many fee's are being generated and if it makes sense to keep your assets in the pool.

As seen on the xBTS web wallet: "By adding liquidity you'll earn % of all trades on this pair proportional to your share of the pool. Fees are added to the pool, accrue in real time and can be claimed by withdrawing your liquidity."

Step 7: Remove assets from pool

Perhaps after a month another pool has massive volume and you would like to add liquidity there.

Simply withdraw your funds leaving you with both bts & honest.USD.

Trade the honest.USD for another asset or bts itself.

IF YOU BORROWED honest.USD into existence and want to close that out, go back to the bts / honest.USD MARKET, click borrow, enter the amount of honest.USD you borrowed, and click update position. The reference wallet has a button labeled "pay max debt" to make it easy. This now unlocks and returns to you the BTS you put in as collateral when borrowing. That honest.USD is not burned and no longer circulates, thus completing the circle on how/why honest.USD has underlying value.

Step 8: Never stop learning

Some more basic information on how honest.ASSETS work on the bitshares DeFi blockchain: https://honest.gold/

The possibilities around DeFi are far reaching.

General Discussion / Why have you stopped using BitShares?

« on: March 12, 2024, 07:43:41 pm »

Historically BitShares was always top 5 for operations in a 24 hour period, see: Blocktivity

What happened?

The blockchain space has been moving towards DeFi for quite awhile and with recent regulations around the world, DeFi is no longer a choice, but a requirement. BitShares has the ability to become the clearing house for transacting in other crypto.

How should development time be spent?
How to onboard new users?
How to attract new developers to build apps on top of the BTS blockchain?
How to grow the community once again?
UI - Ease of use and understanding has always been an issue with BitShares. DeFi is complicated and overwhelming for new users. A simple and advanced user interface would greatly improve new user experiences. This can be seen with any modern day stock exchange broker, bank website, even coinbase.

Bitassets - These were a giant draw to utilize the Bitshares blockchain. They have been globally settled multiple times now and have frustrated many traders. The underlying algorithms have been tweaked to prevent gaming the system however they still remain in a globally settled state. Is it as simple as bringing back these stable"ish" coins to regain liquidity?

Documentation - Update all documentation to ELI5 standard. BTS is way beyond a standard send/receive blockchain. Simplified documentation for developers is a must, otherwise they will get overwhelmed, frustrated, and look elsewhere.

Simplified Gateway Setup - Many redundant gateways / liquidity pools will be required for users to exchange crypto. Simplify the process to setup a hosted wallet/gateway/liquidity pool.

What do you think will jump start the community once again?

General Discussion / Smart Coins - Where are we headed?

« on: December 14, 2017, 04:20:03 am »

I have been thinking about Smart Coins lately and wondering where do we draw the line between utilizing these or pushing businesses to issue UIA's? At the moment we only have a few that overlap, for example bitBTC and open.BTC.

Why are we not adding more such as bitOIL, bitDowJones, bitXYZ Stock, to attract traders interested in futures beyond FX markets? Some of these may require private $ price feeds however most should have pretty solid publicly available price feeds.

Why not have bitLTC or any of the other top 20 tokens? We are an exchange are we not? Sure they will have to transfer to BTS if there are not any gateways, however what comes first the chicken or the egg?

General Discussion / Starting to get noticed

« on: September 26, 2017, 03:53:29 am »

http://www.zerohedge.com/news/2017-09-25/are-crypto-exchanges-about-become-decentralized

BitShares and OpenLedger mentioned on ZeroHedge today. Reaffirms BTS was ahead of its time.

General Discussion / What real world problems can BitShares alleviate?

« on: October 20, 2016, 03:54:07 am »

As @Stan would say, you need to think bigger! Rather you like or dislike Steem, it is an example of blockchain tech attempting to branch off into the real world. For a blockchain to succeed, we need to look for issues in the real world that can be solved by blockchain technology. At the same time however a blockchain is not the best solution to every problem!

First real world problem in which I see BitShares can alleviate while also bringing a substantial amount of new users into the ecosystem.

Monetizing Massively multiplayer online role-playing games

These extremely popular world wide games have a cash flow problem which I believe can be solved by BitShares. Basically the current model for a MMORPG is to:

1. Charge a price for the base game
2. Charge a monthly subscription fee.
3. Offer "credits" for in game purchases (transaction flows through company) ie 500 credits for $50

Item's 1 and 2 are simple where as item 3 becomes very complicated and controversial however are required as these games carry massive on going development costs.

Enter BitShares MMORPG

BitShares can provide these companies with a built in revenue stream. I will try to outline a basic example how this can work.

The most basic of in game economy's consist of such stores of values: Platinum, Gold, Silver, Copper. These can easily be added as a UIA to the BitShares dex for example gamename_Gold vs BitGold. Each game will have separate markets, naming could be Everquest_Gold vs BitGold for example.

Cash flow 1:
This solves part of line item 3 above where the game company no longer will need to process credit card transactions for in game credits. The blockchain will handle this and they can also charge a fee for these trades.

Cash flow 2:
Once a user purchases some Everquest_Gold with their BitGold they are now ready to spend it within the game's marketplace. Most of these games have dedicated market places where users buy and sell in game items. Once again this economy is now running on BitShares and each users in game transactions will generate a fee. User ABC bought item xyz for 7 Everquest_gold. This is simply a transfer thus a fee will go to the game company. Multiple this fee by the thousands and thousands of players constantly buying/selling items with each other and this becomes a real cash cow.

Cash flow 3:
This can also work in reverse if a user wants to liquidate their in game assets. They can simply trade Everquest_gold > BitGold. Once again a market trade and transaction fee going to the game company.

Cash flow 4:
Since BitShares provides a real $ outlet for the company, monthly subscriptions can now be paid with Everquest_Gold that the user earned while playing the game! The company can simply convert this into any FIAT via a gateway such as OpenLedger.

The above cash flows are the absolute simplest of idea's that connect real and virtual game worlds. Obviously developers can run with this idea and incorporate more areas where fee's can be administered.

Tying this together with BitShares will require some coordination such as when a user creates a character, a BitShares wallet for them following the naming scheme above is also created. gamename_username. The game company would need to run a host just as OpenLedger does today to pay for these registrations.

Anyone know any game company executives?

General Discussion / Where is BitShares headed?

« on: September 25, 2016, 07:25:12 pm »

How do we the community jump start this project?

The current state of visible development and activity around BitShares simply makes me sad. I had become used to seeing constant development and excitement going from Protoshares > BtiShares > BitShares 2.0. There was always something to look forward to, a roadmap, a better version etc... Every since Dan and team departed to work on Steem we have not seen the community engagement this project deserves.

Looking around, you can see Satoshi had left Bitcoin and a world wide community has been pushing it ever since. Glancing at Steem shows community development outside of the core team. BitShares with it's very advanced blockchain technology should be attracting more development, what is holding this back?

Currently visible:
Xeroc always helping anyway he can.
Abitmore working on some blockchain code fixes
SVK working on the GUI
BitShares Munich with BlockPay and stealth.
Chronos working on videos
Stan always dropping interesting hints about things to come

Here is the feedback I am looking for:

1. What developments or enhancements need to be done? Let's prioritize a list. (Be specific, is it a blockchain issue, gui issues, advertising issues etc...)
2. With worker proposals at a standstill, how do we flip this around?

I'll start.

1.
GUI Browser support:
-We need an active worker to make sure this works on all major browsers. This is significantly important and I can not see why ALL proxies would not vote to make this happen. This alone is worth having @svk on the payroll. SVK if this is something you can accomplish, how much do you need to make this happen?

GUI account creation: I know this is openledger specific but that is all we have right now
-I try to monitor the chat box on openledger and often see users still do not understand the relationship between openledger and bitshares. The comment "Your Web Browser is your Wallet" confuses people. In the chat box they ask if this is hosted, why do they need to backup etc... Something along the lines of "your web browser connects you to the bitshares blockchain via OpenLedger" could help clear this up. "Your wallet never leaves your web browser" could also strengthen the security concerns.

GUI Market Organization: I also see people confused on the now countless amount of markets available.
-Perhaps adding a filtering option where users can only view BitAsset markets?
-Simple shapeshift style guided trades. Have another tab at the top next to exchange, no graphs, just simple drop down boxes. Version 1 could have simply your assets on the drop down box on the left and what you want to receive on the right if that trading pair exists. Version 2 could automatically make multiple trades to get you what you want regardless of fee's/slippage.
-Is there a way to split the screen and have two markets open at once? I often check liquidity in similar markets, ie BTS/Steem vs BTC/Steem to see where it makes sense to trade.

Blockchain:
-Many users are asking how to run the bitshares blockchain locally. I see some documentation from Xeroc however is there a way we can provide pre packaged installations? We can mimic Bitcoin with their "core" compared to other wallet options. Windows/OSX/Linux/Raspberry PI options would be great. https://steemit.com/bitshares/@ash/how-to-use-bitshares-via-the-interplanetary-file-system-ipfs is also interesting...

2.
-Add worker proposal creation to the GUI. We may want to recommend posting the proposal on steemit to create synergy and a single source of information.
-Is there a way for users to get notification of new worker proposals without having to constantly check? A toggle switch for those interested in this would help.
-Can we add a data entry field where large proxies can put a reason why they vote approve/disapprove? A small field with a link to their reasoning?

General Discussion / Physical Crypto

« on: May 27, 2016, 02:21:41 am »

Are their any projects with the ability to print physical crypto for a medium of exchange? I can see multiple benefits here.

Simple scenario. I do not want to have an app holding crpyto on my phone to transfer when required to a 3rd party. I am going out to a bar to have a drink and wouldn't mind taking $100 bitusd with me. Could the physical crypto note allow the establishment to cash it while also automatically returning the change to my original address?

This would be an easier way to on board more non technical people.

General Discussion / Lifetime Membership LTM payment options

« on: February 26, 2016, 08:46:08 pm »

From a traders speculation standpoint, why would someone pay the LTM in BTS? Most here believe BTS is at rock bottom and can significantly go up in price far outweighing investing 20k bts in a lifetime membership at this point. Should we instead put a FiAT amount for an LTM?

My next question is where does the LTM fee go?

Technical Support / Import keys into existing wallet? Do they merge?

« on: February 26, 2016, 07:35:16 am »

I'm starting to feel comfortable importing my keys from 0.9x however what exactly happens in the following scenario:

I have already registered a separate name on openledger and have a balance. When visiting bitshares.openledger.info it automatically loads this wallet.

-When I click "import keys" what exactly will happen?
-Will it create a 2nd "default" wallet in the management console? Thus having to select between the two?
-Will I have 1 wallet with both registered names?
-When I backup the wallet after importing, does it backup both registered names?
-Is it best practice for safety and security to first "log out" of my newer wallet by clicking delete and then import the 0.9x keys fresh? I believe I would now have two separate wallet.bin files to manage?

Any walk through on how accounts are linked to the wallet files would be greatly appreciated!

General Discussion / Mt Gox > Cryptsy - Time for BTS?

« on: January 15, 2016, 04:51:16 am »

Cryptsy confirms they were hacked.

"These are the approximate figures taken:
Bitcoin: 13,000 BTC
Litecoin: 300,000 LTC"

http://blog.cryptsy.com/

Stealth is nice, but perhaps now is the time to push for pooled BitAssets and liquidity?

Technical Support / Wallet creation process - possible flaw leading to lost accounts

« on: November 26, 2015, 05:25:20 am »

I've been trying to restore a 2.0 wallet on openledger with no success and I think I stumbled upon the same issue of losing yet another account.

In another thread I asked about a way to "logout" so when I hit the openledger page my wallet is not automatically loaded. One suggestion was to delete the wallet in the management settings. This seemed to work. After unsuccessfully being able to restore the old wallet, I wanted to start fresh with a new user name so I deleted the default wallet in the management console and created a new account. Once the new account was created I wanted to backup the new wallet however in the management console no options were available to do so. Only restore backup and create new wallet were showing. I clicked new wallet and now have no way to access the new account again.

Perhaps some safeguards should be in place here? I did not lose any BTS however these issues are what's stopping me from importing my 0.9x account. Lastly, are inactive account names recycled or are they lost forever?

Technical Support / Firefox - Exit Wallet / clear database

« on: November 17, 2015, 02:37:41 am »

I setup a quick wallet to test on openledger and every time I open the site it loads the testing wallet automatically. How can I completely clear firefox where I have to import the backup each time? Should there be a button within the web wallet to completely clear the browser in case someone uses it on a public computer?