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Messages - yidaidaxia

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中文 (Chinese) / Re: LET'S VOTE DOWN *.dacwin
« on: April 19, 2015, 05:27:19 am »
hi everyone, we've fixed problem, .dacwin starts to producing blocks now. We apologize for this accident, will be much more careful in future.

Let me add more details here.

Bitshareshome(www.bts-hk) have Chinese version only now, so non-Chinese memebers are not familiar with our site. However, to Chinese community, we are the source for almost all the Bitshares related information. If you spend a couple minutes on our site(, you will know that we did do a lot of work even though you can not read Chinese. Or you could open google, Bing or now, and search for key word "比特股"(Bitshares in Chinese), and you will find we are top 1 in the search result.


We are focus on Bitshares and open registering for public, the registered users contribute articles and we will review and publish good articles from them.

We have funded for a lot of Bitshares basic learnning course including concept description, wallet user manual, inside market rules, program logic and coding expplaination in wording, pictures and even video. And there are many insights of Bitshares mechanism in our original articles, too.

The translation articles on our sites including console manual, wallet upgrade notice, testnet notice, snapshot notice, whitepapers, newsletters, BM blogs, English media news, important community decision/direction, good forum threads, mumble memo, etc.

In China, a lot of people could not register to Bitsharestalk because they could not read English. They will turn to us for all kinds of problems and questions, and we're providing solutions and anwsers all the way, including download, installation, register, claim to snapshoot or BTS vesting, get missing shares back, sync, backup, compile wallet, etc.

Almost all the Chinese bitshares spreaders are our members. Some of them are community initiators, some of them got started from our site, learnt basic knowledge of the system, join writers team and become important Bitshares spreaders in China.

It's a pity that we have Chinese service only now and you could not magicly read Chinese right now otherwise you will be very surprised and impressed that Bitshareshome did contribute a lot to Bitshares ecosphere.

In one word, pls vote for us. (ID: www.bts-hk)

General Discussion / Re: BM:i tell you why you are the bigest bug of bts
« on: October 23, 2014, 03:41:50 pm »
BM, you really should think about the Merge thing again.
The future of DAC ( including DNS/Vote etc) and BTS might all go to hell becuase your wrong decision.
You will lost Chinese community support in the future except someone who hold a lot of BTS and Agser before 2.28.
Wake up!

It's fine that different people have different view and point. But pls never try to represent for anyone other than yourself... You could no do that unless you get clear authority from the one you representing...

For example, I'm stongly supporting the new proposal (just some details like dilution rate / future third party guidlines / lock-up time need more discussion/refinement in my opinion), and at least I do not see the majority of Chinese community against the new proposal although I could not speak for anyone other than myself.

General Discussion / Re: 10% dilution = 650,000 BTS a day
« on: October 23, 2014, 12:40:39 pm »
2 billion bts * (1+20%) = 2.4 billion. 2.4 billion * 10% / 365 = 657,534 bts

That makes about 650,000 bts a day. To me, this has much much bigger impact than PTS, AGS, DNS merge.

Well, btc currently has about 10% dilution but it's also decreasing along the time.

If we have to pay high to delegates at the moment, at least we should decrease the rate along the time.

That is the limit.. no one will be voted in anywhere near that.

I suggust we need to be very careful about the strategy. If we expect the highest necessary payrate will be almost always lower than 50% based on 10% yearly dilution rate, let's set the limit to 5% each year directly.. which is enough for development and much better for PR. The bad example now is, in keyid/dns chain, the dilution rate is very high, which is bad for PR, in the other hand, toast does not think delegates needs so much pay so request delegates to set payrate to 0% or 1% which I believe makes the delegates feel uncomportable while if the dilution rate is lower then there would be much better for PR and much natural for delegates payrate...

Pls think about that before the final decision.

The overall announcement was very positive.  Overstock is laying the technical requirements for a crypto-system and the work they are doing will pave the way for all of the competitors.   

The fact that they went with counter party means they are dead in the water and will eventually have to migrate to a different foundation.   Why did they go with counter party?

1) They cannot see any other crypto unseating Bitcoin is the digital currency of choice
2) They wanted to securely trade against Bitcoin
3) Their team was available for a buyout. 

Our entire focus of this conference was that Bitcoins real competitor is BitUSD and the fact that BitUSD can be marketed to the masses where as Bitcoin never will be.   By the time Overstock actually releases a crypto-equity BitUSD will have a significant presence in the market.   Traders are going to demand trading against BitUSD and eventually Ovestock will want to list their stock on an exchange that can trade against real currencies.

So this is good for us, they chose a competitor that isn't a threat.   Had the chosen Nxt then I would have been more concerned.   They chose a competitor that will be too SLOW for real trading and too expensive and uncertain.

Their roadmap must include issuing trust-based USD assets on counter party.   Counter party does have "contract for difference" with "price feeds" and thus does provide some hedging options.  It will be interesting.

The BTSX wallet has been built quickly and has not been optimized.  The slowness you see today can be greatly accelerated with a few optimizations to how things are cached on the Javascript side. 

I am relieved that we can focus on BitUSD because it is clear that Overstock is now committed very strongly to Counter Party at this point.   This is a "war" and this battle just shows that most people do not yet get BitUSD... but they will soon enough.

your comments do make sense to me. just one question, in this news, it's said os is hiring counterparty coders to develop their own stock market, no clear statement about it will be based on counterparty or not. actually, if os said os want to issue their own stock on blockchain than it looks like they're going to do it on the counterparty, but they're talking about delevop/own a new stock market/exchange.. really confusing.

General Discussion / Re: Checklist for PTS to DPOS: You can help!
« on: October 04, 2014, 12:47:26 am »
make btsx strong, valueable enough and start to have network effect is really important and so difficult now. compare to this goal, i really can not see keep pts separate for these nice to have features how necessary and make sense, while feature like voting will even debase the value of bts voting, and transfer pts into btsx could save a lot of development resource also. don't be too optimistic and idealistic pls..

General Discussion / Re: Checklist for PTS to DPOS: You can help!
« on: October 02, 2014, 03:12:03 am »
I just put more thoughts about to transfer PTS into BTSX system. I believe the best way to do that is BTSX core devleopment team to upgrade BTSX code.

1. Use certain time PTS blockchain snapshot information as "genius block" informatiom for generating PTS in BTSX system.

2. Remove "BitPTS" in BTSX system since it's worthless in this scenario

3. Set "PTS" as an BTSX asset, not BitAssets, more similar to user defined asset except for the initial generating method

4. Upgrade BTSX version(enforced).

5. PTS owners (at snapshot time) to claim their PTS in BTSX system w/ current PTS private keys after the BTSX version upgraded completed.

6. PTS runs in BTSX system.

Of course, meanwhile the public communication is also very important to make sure i.g. centerilzed exchanges also honor current PTS owners w/ this new PTS since they could get the new PTS w/ current PTS private keys anyway.

General Discussion / Re: Checklist for PTS to DPOS: You can help!
« on: October 01, 2014, 04:40:58 pm »
Go for it then, the OP is telling the people who keep insisting it needs a DPOS upgrade how to get started.
Maybe you can beat them to it as a user issued asset, or duke it out in this thread.

It would be really great to get all of the balances in the BitShares X blockchain at once though, say during one of the future hard forks. If that is not possible, then I guess people will have to donate some BTSX to pay for all the transaction fees necessary and quickly transfer all of the issued assets (I am going to name them PROTO in this post) to the appropriate addresses. Then trusted members of the community would have to look through the unspent transaction outputs to ensure they comply with the snapshots (or just have someone really trusted by the community, like toast or bytemaster, do the asset distribution in the first place). And only after the green light has been given by these trusted members would it be safe to start trading the PROTO assets on the BitShares X decentralized exchange. During this whole process from PTS snapshot until the green light has been given, all PTS trades everywhere would have to stop. After a successful transition PTS would become worthless (centralized exchanges can get rid of it, although the nice exchanges would credit people with PROTO IOUs just like they credited BTSX IOUs, and all PTS mining would stop for good).

So, who wants to help make this possible?

Edit: Also, PTS supply would be scaled up to 2 million in the snapshot for a total PROTO asset supply of 4 million (AGS + scaled PTS). Or rather, scale to something a tiny bit smaller than 2 million with the rest given to the PROTO asset issuer in order to repay the people who donated the BTSX to cover the fees of this process.

I think transfer pts to btsx inside market as an user defined assets makes more sense to me too. Besides development efficiency, another more important rationale to me is that it could bring more liquidity for btsx inside market, so it will be helpful to peg and health of btsx inside market, which is real important for the ecosystem now. In the other hand, as arhag indicated it's really viable.

General Discussion / Re: JDS (Just Dice Style Shares) Dry Run #1
« on: September 27, 2014, 02:55:26 pm »
I would also restrict the currency for betting to BitUSD on your network.... this will drive demand for BitUSD :)

the BitUSD you mentioned here is from btsx or from jds? according to the discussion on music related threat, i believe u mean from jds. but if so, it will not drive the demand for btsx's BitUSD, correct?

General Discussion / Re: [ANN] version 0.2 of DNS/KeyID Genesis info.
« on: September 22, 2014, 01:07:58 pm »
Hi, gamey. I just registered my accounts as delegate today, do they still have chance to be recorded into DNS/KeyID genesis block? Thanks.

 +5% +5% +5%大家都快来投稿阿!

中文 (Chinese) / Re: 合资创建资产
« on: September 18, 2014, 12:28:09 pm »

Muse/SoundDAC / Re: BitUSD used to buy artistcoins?
« on: September 11, 2014, 02:25:44 pm »

Having BitAssets on different blockchains and using atomic cross-chain trading is the brilliant solution to blockchain scalability. The alternative is to have everything on a single blockchain (Ethereum style) and burden everyone with validation costs for every single DAC idea people come up with. That just doesn't scale well. While trading BitAssets does not allow for communicating other types of useful information between independent blockchains, it does allow communicating value transfer, which I would say is the most important information for DACs.

@arhag, thanks for response and a lot of thoughts. I agree that keep everything on a single blockain is a BAD idea too. So what I'm recommonding is a kind of middle way. Every different core function is on different blockchain(Music, DNS, Play, etc.). But the volatility free currency is from BTSX as source but could be traded between different blockchains. For example, you may have account on both of Music and BTSX, you could top up your Music account with BitUSD by freezing your BTSX account with equal amount BitUSD, and the you could do it in reverse by destroying BitUSD on Music and release equal amount BitUSD on BTSX. It will require additional confirmation time and common Delegates but I think the cross chains trading between Music and BTSX with Music's BitUSD and BTSX's BitUSD will require these conditions too.

There is still a strong network effect promoting people to keep most of their money in one chain (BitShares X). Cross-chain trading is inconvenient. People want to be able to have the money ready to go if they need to spend it for some good/service. So keeping most BitUSD (and other BitAssets) on BitShares X means that a consumer can easily pay a merchant for a good/service, and that merchant can later use that money to pay their workers and other expenses. If everyone is on the same chain, people do not need to bother with cross-chain trading which may cost them some small fees to carry out the trade. My guess is that BitShares X will keep the BitAssets meant for spending on "real world" goods/services, while BitAssets on other DACs will be kept only to pay for that DAC's "digital" services. This way DACs would all accept the BitAssets on their own blockchain for payment of services (they have to), but everyone else in the real world would still accept the BitShares X BitAssets for payment (so there shouldn't be any confusion).

Again, we need to establish strong network effect for BTSX BitUSD first. There is no "real world" acceptance for BitUSD now and would not be easy to see it in near future. We should all focus on making it happen instead of making something to hinder it..

Muse/SoundDAC / Re: BitUSD used to buy artistcoins?
« on: September 11, 2014, 01:54:00 pm »
If every DAC can have their own bitUSD,  how is BitSharesX exchange better than other DAC?

Network effect. In theory we could have a BitShares X clone for every city. This splits the market cap over many different DACs rather than unifying it into one (BTSX). While that does make things more scalable, it is also very annoying. Someone might keep most of their wealth in their home city DAC, get paid a salary in their workplace city DAC, and if they are visiting a neighboring city they need to move their money from the other DACs into yet another DAC to pay the merchant in the neighboring city. Moving money from one DAC to another using cross-chain trading is inconvenient and could even add up in costs. For convenience, people will tend to centralize to one particular DAC if it can handle the transaction volume. BitShares X (by virtue of being the first DAC designed for that purpose) can be that one DAC we all congregate around. Once the network effect is built around it (merchants set up the BTSX client software to receive payments, employers set up the BTSX client software to pay workers, people install the BTSX client software and amass their savings on the BTSX DAC) it will be too difficult for just another clone DAC to take away that spot from BTSX.

Right, network effect. That's the real question and my concern. As we all know, it's still a very long way to run for BTSX's BitUSD to get strong network effect, the system is just start. Before massive merchants accept it and million people start to use it to shopping, saving, we could not say there is solid network effect for BTSX's BitUSD. And we need to achieve that goal step by step, and one of the effective step will be using BTSX's BitUSD in Bitshares DACs. And it's very important since at this stage, it's very difficult to get normal merchants and people to support BitUSD.. And in the other hand, before the concept of BitUSD getting real solid and useful based on acceptance by public, there will no real solid value able to added to Bitshares DACs by having DACs' BitUSD.

All the actions/decisions should be based on where we are now(realisticly) and what will happen on the way(not too optimistic) and how to achieve success step by step(in details and in big picture). We should remeber that as an ecosystem, Bitshares DACs are still very small and as the flagship we need to make BTSX strong enough frist to leading the way. We should balance the interests between single DAC and  the whole ecosystem, between shortterm and longterm, otherwise we could not win for any of them.

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