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Topics - Brekyrself

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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?

General Discussion / Understanding of a Gateway

« on: February 28, 2015, 09:15:40 pm »

http://bytemaster.bitshares.org/update/2014/12/18/Benefits-of-Being-a-BitShares-Gateway/

I have been reading this article multiple times and still have some issues wrapping my head around this concept. Let's run through an example to clarify the process.

Example 1: Physical Gateway that accepts fiat.

1. Buyer Joe deposits $100 worth of fiat into the physical gateway.
2. Gateway issues an IOU as a BitShares User Issued Asset (UIA). Gateway only has to keep a record that Buyer(Joe) deposited $100 via transaction ID of UIA

From the article "If the issuer is trustworthy then those IOUs will trade at face value and therefore be useful in trade." What is backing the UIA that will maintain the $100 worth of fiat? Just the free market of buyers and sellers of the UIA?

From the article "Once an asset has been issued it can be freely traded against all of the other asset types on the network including the fully collateralized market pegged assets known as BitAssets such as (BitUSD, BitBTC, etc.)." I don't understand how all of these markets could be traded vs the UIA. Wouldn't the only market available be UIA vs BitUSD if USD was the fiat deposited with the gateway?

3. Joe now trades UIA for BitUSD > Bitshares. Just like any other market there has to be enough liquidity for the UIA vs BitUSD and obviously also the BitUSD vs Bitshares market.

4. BitShares doubles in price vs USD and now Joe wants to get back into Fiat USD. Joe trades back for the UIA and sends the UIA back to the gateway to redeem the 2x amount in person. The gateway and Joe now know he has a tax burden on the financial gain correct?

I know the KYC and AML laws vary around the world so I am not questioning what the gateway has to keep as a record but specifically how does the UIA maintain value?

Stakeholder Proposals / Become the bank / ATM?

« on: February 02, 2015, 03:15:47 am »

Is it possible to physically print BitAssets in your own home?

While I am no coding expert there has to be a way users can physically print assets. If we could simply print $100 BitUSD for example off our household printer we could become an ATM. This would allow users the ability to not need to run a client on their mobile phones if we want to use BitShares system in person. The asset would need to be tied up into some sort of hot wallet escrow ready for transfer.

Merchant use:
The merchant could scan a QR code to receive xxx.xx amount of asset while at the same time the QR code could have the users change address to return the change. Only downside to this is that the bill could only provide a single use. I would also suggest a manual way for a user to enter a key into the client in case the qr code becomes damaged etc...

Users themselves:
Gifts, marketing, the possibilities are endless. Print out BitUSD vouchers for marketing events and pass them out. Users could exchange person to person for private sales etc... I could put them in a card for someones birthday. When I explain Bitshares and Bitcoin to an older generation they will no way be able to adopt this as just now in 2015 are they acquiring their first smart phones. This could lead to the adoption of an older generation.

I have seen this done in Bitcoin land with pub/priv keys needing to be scratched off thus perhaps we could take this to the next level?

Marketplace / Crypto theme domain names for sale

« on: November 29, 2014, 02:43:51 am »

I am looking to sell or trade these domains for BTS or computer hardware. They have been registered since December 2013 and I am very, VERY open to offers! I do not have the free time to get my crypto project off the ground

cryptobanked.info
cryptobanked.org

cryptomarket.info
cryptomarket.org

p2pcoins.info
p2pcoins.org

p2pmoney.info

KeyID / How this all works sticky?

« on: August 30, 2014, 11:22:11 pm »

Can we sticky a thread with a high level non technical overview how this all will work? This will help newcomers and future investors who are not tech savvy.

Even myself I run a simple vbulletin website, how would I go about moving this over to the new dns system?

BitShares PTS / PTS Update?

« on: July 12, 2014, 03:59:09 pm »

Mining pools and power are fading any plans to switch PTS over to DPOS?