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Messages - clayop

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Sorry guys. Recent problems with messed node caused pricefeed problem. I am trying to fix it and will do ASAP.
I also have to admit I couldn't put much time on committee issues now. My apologies.

Thanks I checked the missing part.

Your concern is reasonable. In my proposal, I attempt to deal with it by taking part of fees into the network (10% for non LTM) to prevent spamming attack.

Also, as xeroc mentioned, one possible scenario is borrow Smartcoin, keep it, and obtaining profit from fees. This seems the low-hanging fruit, however, I think it is not 100% safe method. Because this needs at least 2x collateral in BTS and the person is exposed to BTS price. For instance, if one issues 2k BitUSD with 1M BTS collateral, he can enjoy profits from fee but if BTS price decreases 10% he will lose 10% of value when his position is cleared.

Similar discussion occurred here, maybe worth check out:,23707.0.html

Thanks for informing. The difference of this proposal is a fee type; my proposal is about transaction fee. IMO, Smartcoin should become beyond exchanges, to marketplaces

BirUSD and bitCNY are often traded below feed, which means that they are oversupplied. There is just not enough demand for them. If you make traders pay to shorters, you'll decrease demand and make the problem worse.

If there's no use of Smartcoin, there will be no additional incentives from this change. Actually, this proposal is to promote more use of Smartcoins (e.g. merchant payment, remittance). Here's my additional explanation.

The problem I am attempting to solve is discrepancy between risks and returns in shorting (issuing) Smartcoins. When an issuer create Smartcoins by shorting, he will be exposed to BTS price and all accompanied benefits/losses, which is totally fair. However, profits(a.k.a. fees) from using utilities of Smartcoin, mainly stability thanks to over 1.5x collateral from the issuer, goes to the network and benefit all stakeholders. In BitCNY's case, its issuers only benefit approximately 14% of total profit (because the market cap of BitCNY is about 14% of BitShares'), and other 86% is distributed to mere BTS holders who don't expose them to the risk.

This is the main problem this proposal is trying to tackle. It doesn't change strategy what you mentioned, and just give additional incentives to the issuers.

I posted smartcoin improvement proposal on github

Please leave your thoughts.

Does BlockTrades support direct link to a certain currency pair?


General Discussion / Re: STEEM price discussion
« on: April 22, 2016, 07:00:01 pm »
Just to set things straight here. I was asked weeks ago if I would be ready to have an article put through on STEEM via Forbes. I was also told that OpenLedger was meant to be first platform to trade STEEM.

None of this has happened, and whatever is the reason for BiTTREX to be the first, you all need to take up with the people orchestrating this, meaning @dannotestein @bytemaster @nedscott

I am enjoying to help promote BitShares and OL on top, but as I have mentioned in previous threads whenever there is a hidden agenda and i feel someone here have been playing on many horses and really made a bad impression on it all.

I hope it will improve soon in terms of how communication has been presented, and I hate to waste my own time and anyone else's for that matter thinking we are on the same page, when in fact someone has already witten the end of the story on his own.

Just tell us when deposits and withdrawal's are allowed on OL and we will take of OPEN.STEEM after that... don't worry!

Is it not already? I thought actually it was made possible a few days ago. Pls test it. Its hard for me to do much on this, as I have received very limited information all in all.


Can you take care of this?  (or somebody they listen to you)
I don't see any option to deposit or withdraw. Even if there is a way it is not easy to find.Please give the option on top of the page of each pair...
Update your GUI to the latest version

Can I deposit OPEN.STEEM now? If yes, how?

still not work
the only exchange for muse!!!!!!!!!!!

why only exchange? OpenLedger offers Muse in many versions
Because people don't perceive OL as an exchange. It's just a function of wallet. I repeatedly argue that OL needs its own specialized frontend.

Technical Support / Re: bitshares wallet can not trade and Pay
« on: March 10, 2016, 03:51:33 pm »
And it is so slow in China
there is no fast API we can connect to. How can the decentralization solve the lack of node problem?
You can run your own node and connect your wallet to it. That's the fastest solution.

Freebie / Re: Sharebits on Telegram is Possible?
« on: March 09, 2016, 06:05:00 am »
hey clayop can we chat behind the scenes?  i have some ideas that will make that and much more possible but im looking to chat with people i trust from the community about some of the nitty grutty details.
Sure. Please PM me on Telegram

Freebie / Sharebits on Telegram is Possible?
« on: March 08, 2016, 08:11:19 pm »
I would like to see Sharebits on Telegram, like Jonny's telebit wallet. Telegram is becoming popular (especially where there more governments' surveillance) and it has powerful API/bot features.


This is a draft for an "article" that I am currently writing on ..
It (of course) describes MY(!!) interpretation of BitShares:

BitShares as a Platform:

You can compare BitShares with a platform that offers a *common ground*
infrastructure to its customers, participants and business partners.

The first and maybe simplest non-technical analogy would be
      "BitShares as a global Shopping Mall"
Wait, what?

Let's take BitShares apart and see what components we have:

* Infrastructure
* Existing and Upcoming Tenants
* Customers, Clients and Guests

The Infrastructure
BitShares offers an infrastructure to their tenants and customers, such
as a parking garage, air conditioning, internet connectivity, a meeting
hall, toilets and even offers their business partners some
financial services, like local currencies, mall-wide or business wide
gift cards.

FIXME: Open 24/7!

Technically, these are implemented by means of a blockchain (how else)
that offers:

* 3 seconds confirmation times
* inherent security and an audit trail by an immutable public ledger
* market-pegged and user-issued assets

Fortunately, our shopping mall is located at a place that is
close to Las Vegas, and also China while non of their regulations apply.
In fact, the only laws that apply in the mall are the house rules of the
mall itself and they allow you to do almost anything!

FIXME: shareholders!

Businesses offered by Existing Tenants

One of our earliest Tenants is actually a bank. If you take a look at
your local malls, they all have had a bank from the beginning. Not only
to do they provide businesses within the mall with services, but are
also close when their customers need them while shopping. What is
different with this bank is that a) there is only one bank and b) they
don't make a profit out of your deposits! Further, every visitor of the
mall needs to have a bank account at that bank for shopping in that
mall, but they can get it for free when when they enter the mall.
Interestingly, this bank has some where unique value proposition to
outsiders, namely, that their accounts are so secure, that they can't
even access your accounts themselves while still offering you full
flexibility to decide whom to give access to it, maybe to your wife,
maybe not. Of course, you can also use your account in regular shopping
malls outside the BitShares mall.

FIXME: global fast payments ... almost instant transfers
Bank is owned by the mall

One of BitShares' biggest tenants is a marketplace but many use it as a
global FOREX, commodity and stock exchange, though. Yhea, figure that
out: Our shopping mall has an international globally accessible, open
all-day exchange! Anyhow, this exchange fortunately has decided to share
all its profits with the owners of the shopping mall! Our visitor can
benefit from this exchange as their are no doormen ensuring that only
the rich can get richer. No, this exchanges can be visited and used by
anyone and they trade anything, from GOLD, USD, Stock, Gift, Cards or
even Event Tickets. They of course also offer every business in the
mall, or any visitor to create their own digital good and have it trade
on a global scale instantly. Try that in your local shopping mall, the
managers' faces will become enjoyable.

Other tenants already offering services to visitors are in the

* privacy business,
* betting business,
* prediction business,
* gambling business

and there is **plenty** of room to house even more businesses!

Planned Services, Businesses and Opportunities

### Secure Decentralized Messaging
With ultra low (later even zero) fees for transfers that can carry
arbitrary text messages, a trust-less, censorship-resistant and secure
messaging across the platform is possible! The infrastructure for this
services will be offered by the BitShares network, but profits can be
made by selling the best, nicest and most user-friendly app.

### Subscriptions
Our local bank has improved his services and now offers their customers
a way to setup withdrawal permissions for their accounts. This would
allow businesses to establish a subscription models that can leverage
all the advantages of our banks.

### Crowdfunding
### P2P insurance
### Market Maker
### Rate Limited free transactions
### Side Chains
### Bond Market

As a platform, we need to have more infrastructures for developers. These include documents, libraries, wrappers, and help desk.

OpenLedger / Re: deposits in openledger
« on: March 03, 2016, 12:20:42 am »
IMO this post shows good news and bad news both.

Good one is that new users are coming and will use our services.
Bad news is that new comers are confused by our system, implying our service is not that user friendly.

Ronny, I want to encourage you to invest some fund to build openledger exchange frontend, in which people can use your service intuitively.

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