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Messages - itnom

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1
General Discussion / Re: Overstock.com Assembles Coders to Create a Bitcoin-Like Stock Market
« on: October 08, 2014, 11:44:50 pm »
Quote from: theFu.. on October 07, 2014, 08:43:53 pm
Quote from: valzav on October 07, 2014, 07:55:18 pm
This is what PhantomPhreak (Adam Krellenstein) wrote here https://bitcointalk.org/index.php?topic=395761.msg9115341#msg9115341 :
Quote
Everybody, there is an enormous amount of misinformation going around in the press. We're working to fix that ASAP. In the meantime, please help us correct errors as you see them!

For the record:

1) Overstock.com and Counterparty are partnering to build a platform (Medici) for trading stocks on Counterparty and using Counterparty's decentralized exchange.

2) I, along with Ouziel (JahPowerBit), will continue working on the Counterparty protocol full-time. Robby and Evan will continue to work on Counterparty full-time because Medici is a front-end for Counterparty.

The Wired and Coindesk articles make it sound as though we are abandoning this project. Nothing could be further from the truth!

Thank you,
Adam

I think this is good news for our community, as Bytemaster pointed out in this thread, Counterparty platform is too slow and transactions cost is too high to be a real competitor for BitSharesX. The work on the legal side they are going to do should benefit entire crypto finance industry.

is there anything keeping them from "upgrading" counterparty's tech in some way that xcp is no longer really counterparty...and then keeping the name for brand recognition?
My only fear is that they figure out how to use Open Transaction federated servers to track the Counterparty Open Assets. That way the Assets would be verifiably on the BTC blockchain and could be traded even faster than BTSX assets. Various issues such as BTC blockchain bloat and Open Transactions centralization might remain an issue even in that scenario.

OT is supppsed to come out in December, so who knows what happens.

The irony of course is that BTSX delegates might become the most trusted OT servers.

2
General Discussion / Re: Nxt vs Bitshares
« on: August 24, 2014, 05:15:04 pm »
Quote from: yellowecho on August 24, 2014, 03:32:08 pm
Quote from: delulo on August 24, 2014, 03:25:24 pm
The one is an IOU and the other is a market pegged asset (did that exist before, with it being an IOU at the same time??)

Yea, user-issued assets are IOUs while market-pegged assets are fully fungible whose price is derived through social consensus rather than by the issuer alone.

I have a question.... is BitsharesX the first time the price of 1 troy ounce .999 fine gold will be set by the free market rather than from a couple bankers colluding in private?   :o
I don't want to be that guy, but any commodity can be manipulated in price as long as its pricing is dependant on collectively issued credit currency (i.e. the current fiat regime). This is even more so true for BTSX as it encourages the usage of bitAssets and hence the pricing of BTSX tokens in terms of those bitAssets.

It is going to be interesting to witness how much the DAC ecosystem will evolve, including BTSX istelf. We are in for a wilde ride.

3
General Discussion / Re: Bter now accepts BTSX deposits/withdraw and trading
« on: July 28, 2014, 12:41:57 pm »
Why is bter completely blank for me? Nothing opens up.

4
General Discussion / Re: Hey, BTSX delegates, come here.
« on: July 22, 2014, 01:33:48 pm »
Bitsapphire (http://bitsapphire.com/Bitshares-Delegate/) is currently setting up 5 dedicated servers for our 5 delegates in our server coop.

We'll need funds to register our delegates later today.

We will also publish 5 initial software ideas we want to reinvest our profits into for the community.

5
Stakeholder Proposals / Re: Introducing DAS Lab (with a delegate bid)
« on: July 21, 2014, 11:41:01 am »
Nice Toast! You have our vote!

6
Stakeholder Proposals / Re: "blockchain_average_delegate_participation": 100
« on: July 21, 2014, 11:39:36 am »
Really nice :)

7
General Discussion / Re: Bootstrapping a BitAsset
« on: July 17, 2014, 10:32:22 pm »
Quote from: toast on July 17, 2014, 10:11:32 pm
OK but in this case you are being manipulated even without price feeds giving you a range because traders are using price feeds to make their decisions... all you've said is that trading assets with only a small number of price information sources is dangerous (no matter which platform you are using), how can BTSX magically fix it? We are discussing BTSX-specific accounts

You are right. Anybody outside the trading room gets manipulated, and trading assets with a small number of price information sources is dangerous.

I think this means that there needs a minimum number of price sources for any BitAsset or the asset needs to be traded native on the DAC itself.

8
General Discussion / Re: Bootstrapping a BitAsset
« on: July 17, 2014, 09:55:12 pm »
Quote from: bytemaster on July 17, 2014, 09:33:43 pm
There would be 100 feeds and the worst that could happen is that trading would halt until a new price feed was entered.

Mmh. I'm not sure I'm getting it. Where do the original 100 price feeds come from? Wouldn't in most cases all price feeds for a specific BitAsset come from more or less the same centralized resources, but just get replicated by the delegates? My concern is that that central price feed where everybody gets their data from is manipulated in the first place.

This is one major issue for most global financial institutions dealing with assets from small countries. Often their data feed of the lets say Albanian stock exchange gets manipulated or corrupted by the central issuer for their own nefarious political reasons. If you are tracking a share of an Albanian company at that moment, and all delegate feeds agree with one another because there is only one central issuer of the data feed in the first place, the  BitAsset will be out of touch with the real price quite considerably. This isn't a problem for the local traders because often they sit in a room with the real data but the public issuer sends out manipulated data to the outside. This is much more common for assets in small countries than you might think, hence trading BitAssets which don't have much liquidity seems dangerous.

9
General Discussion / Re: Bootstrapping a BitAsset
« on: July 17, 2014, 09:17:35 pm »
I understand where you are coming from, and that this technically doesn't determine the price of the BitAsset, but it does give it upper/lower bounds of movement. A central feed would also create a central failure point, no matter how small the chance.

The first point of attack a government would use against a Bitshares DAC would be precisely this data feed. It would be trivial for governments to manipulate the public feeds and hence play around with the price movements on the DAC.

10
General Discussion / Re: Clearly the World Needs TITAN
« on: July 17, 2014, 09:07:51 pm »
Quote from: bitbro on July 17, 2014, 04:54:31 pm
How long do you think it will be before we have gmail level GUI for wallet/ KeyMail?


Technically it could be out this year. Because of the JSON RPC interface it should be extremely easy to build wallets and similar services on top. I would not be surprised if multiple competing wallets come out pretty fast after the launch.

To make this really Gmail level simplicity we need a way to do easy, secure, thin clients which nonetheless hold the private keys. This is solvable tough.

11
General Discussion / Re: Dry Run 10: Viva la Vida Delegada
« on: July 17, 2014, 02:10:34 pm »
Quote from: spartako on July 17, 2014, 01:54:17 pm

Sent
Code: [Select]
------------------------------------------------------------------------------------------------------------------------------------------------------------------
2014-07-17T13:53:18 5200      spartako-w          itnom               100.00000 XTS           0.10000 XTS    63bd94d

Thanks spartako! Just registered as a delegate.

Please wallet_approve_delegate bitsapphire true so we can do some testing on our server this round.

BTW, has anybody built a tool for delegate server monitoring yet? Email notifications or anything?

12
General Discussion / Re: Dry Run 10: Viva la Vida Delegada
« on: July 17, 2014, 01:44:29 pm »
Quote from: bnoble1206 on July 17, 2014, 01:42:25 pm

As far as I know this dry run is already dead. Last I checked no transactions were going through. Unless anyone else knows anything different?


Well, that was fast. Europe just wakes up and things already restart ;)

13
General Discussion / Re: Dry Run 10: Viva la Vida Delegada
« on: July 17, 2014, 01:36:18 pm »
Would appreciate some funds for delegate registration.

XTS64BxdfP2svYcvHdeJK6dpeisMqsEKmfJct9cYaFAPtxyUtjXEe

14
General Discussion / Re: Waiting for Dry Run 9
« on: July 15, 2014, 09:22:01 am »
Quote from: bytemaster on July 14, 2014, 03:28:35 pm
BTS X is the bread and butter of our ecosystem and needs to be a success so that our funding can go on once AGS ends.   DNS and Lotto also benefit from BitAsset cross-chain-trading so we are all on one team getting this done.

This.

The MVP is the complete feature set. All other DACs depend of these features. If those are not in the official first release copycats can easily get out there faster.

15
Stakeholder Proposals / Re: Bitsapphire Delegate Bid
« on: July 06, 2014, 09:37:52 pm »
Quote from: cass on July 06, 2014, 08:16:24 pm
Thx btw Taulent .. when using my 27" mac to view your delegate site ... container content is cutted of on left/right! Just said ;)

Thanks for the feedback! Didn't notice that before!

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