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Messages - well.attenuated

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Openledger / redeem OPENBTC
« on: July 31, 2017, 11:49:14 pm »
I purchased some OPENBTC ages ago shortly after bitshares2.0 rolled out but now that CCEDK has replaced it with open.BTC is there a redemption process in place, ether to open.BTC or to BTS directly? I would expect a massive 1:1 buy order to clear out the old asset but there is nothing in that trade pair.   

Technical Support / Re: Bitshares 2.0 on Ubuntu 64
« on: March 16, 2016, 11:10:25 pm »
Are you trying to install  the bitshares-light.deb on it;s not working for me either. I got the most recent version running by installing maqifrnswa's PPA ( ppa:bitshares/bitshares) and installing "bitshares2" I just got it working about 2 mins ago.  You will need 15.04 or newer though.

Technical Support / Re: v2.0.160309 linux binary crashing
« on: March 16, 2016, 11:07:08 pm »
The problem was the "bitshares-light" download on - the last several just don't work at all.  I added the PPA @maqifrnswa has been maintaining (had to upgrade to 15.10 from 14.02LTS grr) and now it works fine.

Technical Support / v2.0.160309 linux binary crashing
« on: March 12, 2016, 05:08:48 am »
Has anyone else been able to get the new light front end released yesterday to work? I went back to 151202 and that is still working but 160309 crashes immediately. I will admit I only know about 90% of what I am doing in linux but I don't think I am doing anything wrong on my end.  Is there something I might be missing in this new version?

This is like asking "why do people leave their money in Banks? There is a chance the bank could fold. Therefore everyone should cash out into cryto and or cash"
User error risks are currently more likely than the centralized risk proposed by the OP.

Also, most of the BTS in accounts on the exchanges are just waiting for the opportunity to unload it.  I have some EXP on Poloniex but no EXP wallet. I have no intention of transferring it out because I don't want it. I have a predetermined price I will trade it back for BTC and withdraw that.  For many traders it is not worth trying to setup a wallet for every currency you want to trade, download a blockchain, become comfortable with the interface etc.  Add to that a buggy complicated interface and it is understandable that many traders want to just keep their BTS on exchanges while they are in a position.

The problem with taking your money off the exchange and trading on the Dex, is the possibility of losing money due to the complicated nature of placing trades. This is especially relevant for shorting.

Right now the odds of losing all your money on a centralized exchange due to hacking  is far lower than losing a big chunk on the Dex due to complexity, user errors, and bugs.  Also there is no chance of fund recovery on the Dex if a bug causes you to lose money.

The longer that polo and all the other CExs stay secured, the better their practices will get and the less useful our Dex becomes.

I've day traded for 10 years and I would never trade on our Dex in its current form.  It doesn't have the most basic tools that traders need.

Technical Support / Re: !!! Stupid Questions Thread !!!
« on: December 09, 2015, 08:09:56 pm »
an account has lots parts

account name
account password
account back up
account brain key

which bits are need to fully restore a account?

My understanding:
wallet backup is needed to restore the current accounts in the wallet
password are needed to unlock wallet to send funds from accounts
There is no account brainkey per-se, but
wallet brainkey allows for restoration of accounts CREATED IN THAT WALLET but not imported accounts.
username is just tied to the account and would be included in the backup

General Discussion / Re: UIA Giveaway - BRICS
« on: December 09, 2015, 07:43:17 pm »
BTS: well-attenuated

General Discussion / Re: [ANN - AMA] bitCash - Digital Money of the Future!
« on: December 09, 2015, 03:53:09 pm »
I would be interested in supporting something like this, I have been trying to get people to use bitUSD to settle minor debts between friends - splitting bills and such but the layered complexities of a) BTC b) bts and c) bitUSD make it nearly impossible to introduce to the uninspired. Count me in

Nanocard / Re: Activation of NanoCard on CCEDK, soon but not yet, sorry
« on: December 07, 2015, 04:20:36 pm »
I sent a you PM on Friday (14d) following up on this offer but have not heard back.  Is this still happening? I think goodwill of your customers is worth far more than than 0.1 BTC at this point.

I'd like to do this if its still going on

I wait for Ander to start shit-posting on the forum; this is a clear buy signal.

When Ander starts making happy rah-rah post on the forum, it's time to bail baby!
How interesting. Ander is my contrarian signal as well.

Wait... what if Ander used himself as a contrarian signal? *mind blown*

So your saying Ander is actually Dennis Gartman....

General Discussion / Re: Help me Identify the Top 10 most harmful laws!
« on: December 05, 2015, 12:06:25 am »
(lack of) castle doctrine

General Discussion / Re: Liquidity Proposal
« on: December 01, 2015, 08:49:12 pm »
But the actual value of the assets referenced makes it more like:
Would something like this work?

1) Issue an IOU (like METAEX.BTC)
2) Sell IOU in the DEX for bitBTC at a -10x% premium (e.g. 1.1 METAEX.BTC = 1.00 bitBTC)
3) Offer bitBTC to buyers at a 2*x% premium (eg. 1 BTC = 0.98 bitBTC)

That way you can take 11% loss and hand over 1% to those buying an IOU backed by "real" BTC.
I really don't intend any offence but there are a lot of proposals for work flows like this floating around that don't take actual market price into account.  If a trading algorithm requires 2 non-fungible markets to exist at parity it doesn't really work.

1) take $1 to bank and exchange for 10 US dimes
2) trade each dime for 1oz gold eagle
3) sell gold coins to pawn shop for $1200 each
4) profit $1199

This doesn't provide liquidity to the dime:gold coin market, and if you artificially fund a "market maker" with a basket of gold coins and set them the task of providing liquidity you will end up very quickly with a pile of dimes.
(bonus: this is why gov. subsidies/interference in industries don't work)

General Discussion / Re: Liquidity Proposal
« on: December 01, 2015, 03:20:46 pm »

When the first bots came out, some thought they could make money by straggling the peg to enforce 1:1. It worked until shorters realized it was backwards for shorts to pay interest to longs, and then shorts realized they had more risk than longs and refused to short at or near the peg (and they were correct). As bitUSD demand grew, no shorters met the demand, so price increased relative to the peg (bitUSD> USD). The original market makers held it off for about a week before they went bankrupt or just turned off the bots and let the market reach an equilibrium of 1:1.1 bitUSD:USD until settling around 1:1.05

This is absolutely correct, bitAssets will always be worth more than their gateway products due to the risk imbalance and this has been brought up in several threads.  This is where the OP breaksdown.  Such a bot would borrow buckets of bitAssets (say bitBTC for example) and trade them exclusively in the bitBTC:GatewayBTC markets.  However, if this MM to was only permitted to trade at 1:1, it would exhaust its supply of bitBTC and be left with a large basket of various GatewayBTC's that users would not buy back at 1:1 but only at 1:[1+premium]
Of course gateways could pledge to buy back their own gateway assets but they would need to absorb all the bitBTC created by this committee as reserves and all that created bitBTC liquidity would be absorbed and we would be right back where we started.

General Discussion / Re: Discussing the problems with bitUSD (smart coins)
« on: November 23, 2015, 05:24:15 pm »
I had an idea how to create depth and liquidity for MPAs

There should be an option on the trade page that says buy or sell at live price feed which will place an order on the books at the settlement price but crucially your order will move with the price feed so you don't have to keep updating it.

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