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Messages - Geneko

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General Discussion / Re: Dan's Next Project - EOS Rears its Head
« on: June 11, 2017, 10:55:27 am »
I also have not received an e-mail about it, eventhough I did register myself on the mailinglist.

It's probably laying in your promotions tab on Google account.

365 days is waaayyy too looongggg in the crypto world

Where did you find out that information?  From their last mail they only inform about conducting a 2week public trail of the sail on Ethereum test network. They invite everyone interested in learning how sale works to participate in the trail. They will send instructions in following mail which  didnt arrive until time of this writing..

General Discussion / Re: Bitshares price discussion
« on: June 10, 2017, 04:48:44 pm »
What's the reason for BTS price finally rising to where it belongs? Any news?

Now, this is very interesting question! Is this @Stan and Hero thing preparing for launch, is it CHbtc with its pump and dump machine or something else? Maybe someone will do proper analysis. Anyway welcome to first 10 market cup club. This is best marketing campaign for Bitshares, ever.

General Discussion / Re: Let's Try This Again
« on: June 10, 2017, 11:06:49 am »
Nice to hear from you again and thanks!!

There has left only a few off us who knows that you share recognition for what Bitshares is today.
You must be proud of what you did.

Congratulations to you too.


General Discussion / Re: How to purchase BitShares?
« on: June 02, 2017, 11:43:25 pm »
There is also another route requiring basic knowledge of Bitshares Light Wallet functionality.

Buy BTC,ETH, Dash... with credit card where ever you can/like.
Download Bitshares light wallet
Register account, make backups.
Send those tokens you bought to your account on Bitshares DEX, using deposit BTC,ETH,Dash.. feature.
Sell those BTC,ETH,Dash... for BTS on Bitshares built in Exchange.

When you sell it, you'll have BTS on your Bitshares account.

General Discussion / Re: Prism
« on: June 01, 2017, 06:38:33 am »
I still don't understand. Does Prism side, actually buys those portfolio tokens locked in smart contract (Prism creation)?
And then on liquidation, sell them on the market and buy ETH? Is that how it works?
Where from will come all gains and loses if not from the actual market?
Otherwise Prism is betting house. Accepting bets on future price of portfolio. Like this it is very risky business model.
In the promotion video they explain what they are doing, but doesn't explain how. Anybody familiar with how?

I've watched whole presentation. It's .. AMAZING!

I don't know what's coming but I do know it is one hell of a good presentation. I am impressed.
If only a fraction of it become true it is going to be "THIS SUMMER" we all been waiting for.

Thanks for sharing and I recommend for everyone to take a look.

P.S. I might short few of a Hero's too.

General Discussion / Re: Will it be love?
« on: May 30, 2017, 09:46:44 pm »
Rumors are you supporting @kenCode finishing his work on stealth.

Could you be so kind and inform us about current state of kencodes work on stealth.
What are your plans? Is there anything we as a community could do to help?

Do you plan to implement it on Peerplays first, would it be free to implement on Bitshares too?

Whats the big deal with everyone being so secretive? I know it is stealth we are talking about, but why everything about it needs to be stealth :-\.

« on: May 30, 2017, 06:41:04 pm »
When i say "inflation rate", i want to mean, how many new BTS added to the circulating supply every year?

It is like asking what is "inflation rate" for Bitcoin. It is 12.5 per new block. Only there hard cap is 21mil. which mean only that amount would ever be in existence.
Related to that BTS inflation rate is, 1 BTS per new block, according to newest commity consensus. Hard cap is 3.6bilion.
Current supply of BTS is 2.6bilion.

During how many years?

Current supply is 2.6 billion and 1 billion in reserve fund. Reserve fund act as buffer pool that collect fees from the network transactions and pays for workers and block producers. How many years depends of how fast reserve fund is draining. In theory as many as needed to reach 3.6bilion.
Rate of spending from reserve pool is variable and depends on block reward, number of witnesses (block producers) and approved workers that serve for future project development. Every one of that is decided by stake holders through voting. Elected commity, worker proposes, stake holders approve or deny.
Long story short with current rate of spending, according to my estimations hard cup could be reached in 50 years.

Here you can find chart that tracks level of spending form reserve pool, pls check
Profit/Expenses from the Bitshares Reserve Pool:

Here you are, hope this could help ;)


Deposit and withdrawal finally enabled!!

Received withdrawal. It took 2days for withdrawal this time!

This can cause unnecessary  selling pressure of BTS on poloniex
Exactly!! That's why we need to track it.


Last checked- 28.05.2017 5:00h PM status Temporarily Disabled

P.S. I have BTS withdrawal request in pending since  2017-05-27 08:14:01

the crux of the story is: do not use centralized exchanges. Polo has issues it seems

Yes I knew that and now learned harder way. But again maybe others don't.
Anyway, to be more specific this is what I have in mind when opening this thread:

First noticed - 28.05.2017 9:00h AM status Temporarily Disabled
Last checked- 28.05.2017 3:31h PM status Temporarily Disabled

There isn't any thread that tracks such event. If there is any pls point out and remove this one.

Poloniex have simply disabled withdrawals of BTS because they cant disabled deposits on their Bitshares account..
There isn't any related information about that on their notices section. Only on deposit and withdrawals page. Which means hidden for majority of interested parties. Is this for everybody or this might be selective? This doesn't have to do anything with daily limit I am sure.

This is nothing new on Polo these days, I have read about many complains for other currencies too, but I was wondering why there isn't any thread that informs and tracks of such behavior for BTS. This is not benevolent, such behavior might be used for price manipulation (BTC withdrawals enabled) or indicate something much more serious.
If we could be regularly informed about such behavior it might help understand the back end story... 


If BitShares Munich had not been involved, and the contract was between Alfredo himself and BitShares 2.0 shareholders, then the terms would be simple.
"Complete work to the subjective satisfaction of the BitShares shareholders and you will receive x bts per month."
Then after a huge price rise, shareholders may find it prudent to renegotiate the employment contracts it holds with employees.

Should this worker proposal, employing Alfredo, be voted out?
The Shareholders could then wait patiently for a new proposal with payment in bitUSD to be submitted by Alfredo.
Depending on his demands for compensation I am sure the shareholders will be pleased to re-hire a talented BitShares literate core dev.

I think same is related to Bitshares Munich Worker proposal. If someone thought it is overpriced it might be voted out. I don't see a problem here?

Main point here with BTS denominated payouts is price risks. The one who accepts the price risk, rips rewards and losses. At least in theory. There are many problems mixing payment for work and price risks. They are two different kinds, one is work another is speculation. If worker suddenly finds out he is payed less then normal (price depreciation) he stops work. The opposite is not the case. Why? Because of flaw in Bitshares worker model.

We need to separate those and that is why we need payment for workers and witnesses denominated in bitUSD.

Stakeholder Proposals / Re: Proxy: fav - Journal
« on: May 13, 2017, 01:27:23 pm »
and to add a lessons learned:

Worker payment should be in bitUSD, and I won't vote for any future worker that does not denominate in bitUSD.

There is no need to be that harsh. Then all the workers and witnesses should be vote out. After they all receive payment in BTS (except @xeroc).
It is built in our core code. We need to address those issues, but we need consensus first.
EDIT: On a second thought you are right. It is fastest way we could change it. Lets vote!
You'll have my support.


Glad all going well for you. Looking forward to new updates!
I am sure @fav will agree.

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