Show Posts

This section allows you to view all posts made by this member. Note that you can only see posts made in areas you currently have access to.

Messages - JoeyD

Pages: 1 [2] 3 4 5 6 7 8 9 ... 31
Isn't it possible to make changes to the infrastructure of bitcoin or eth? I know the decentralisation is pretty strong, but I wonder if Etherum can be changed in the future to work around f.ex. scalability issues? Sorry if my question is stupid, I'm just pretty new to bitcoin :)

I'm not a computer scientist so use appropriate amounts of salt with my comments. From what I understand there is a fundamentally different design at the base of bitcoin and bitshares (and other graphene based blockchains).

The difference seems to be mainly whereas bitcoin stores and processes operations on the network, bitshares deals with messages (the results of operations). The latter allows for the massive optimizations and speed (not using the inefficient blockchain for the slow stuff, but only for the absolutely essentials). It also allows for more complex stuff like order matching on the decentralized exchange, something that is apparently virtually impossible to do on both bitcoin and ethereum.

Ethereum uses a similar design with bitcoin, but with a lot more operations and complexity. While there probably are ways to massively improve bandwidth and tx/s, from what I understand most of those can be applied to bitcoin and because of it's simplicity it would always have higher bandwidth then ethereum using the same techniques.

What ethereum can't do however is migrating to the message-system graphene uses without breaking off completely from their current design (unlikely since all the current customers would have to rewrite all their current apps and software) and that seems to be one of it's achilles-heels. One of the reasons that there is still not a bitshares-level app on ethereum is this design, despite all the devs clamoring that the first thing they'd write would be a dex and there being an opensource working one right here to copy. Also even if the bandwidth issue would be solved, it would still be held back by it's blocktimes and having to do linear operations. Graphene based chains seem to be capable to do multiple operations during a single block on top of the low 3 second blocktimes.

I only skimmed through the article referenced at the top, but superficially he does seem to have a point. Despite all the smugness I'm seeing in the Ethereum-community about the issues with bitcoin, I'm stupefied by the observation that most not realizing they have all the exact same issues, if not even worse in their case. (centralization, governance issues, waaaay to much power in the hands of a few, immediate bandwidth problems) For example, delayed transactions on the "simple" bitcoin network does not necessarily destroy the value propositions of the bitcoin tokens (although it is not a very good user experience), I'm pretty sure that the same situation on ethereum would have more serious consequences.

The hype-machine trying to convince people that ethereum can do and replace everything seems to be more than a little misleading. To be fair though, I've seen people like Zamfir issue public warnings, about not running mission critical code on the network, because of it's experimental state.

General Discussion / Re: BlockPay in Serious Trouble
« on: May 28, 2017, 10:43:06 am »
Stealth is hugely important and without it no crypto currency has any hopeof being useable except for big extremely powerful entities, and we'll be right back in the same hellhole we are in now. Without anonymity and privacy I honestly believe that cryptocurrencies will be a giant catastrophe. Who goes around the street flashing how much cash he has on his person, or worse who goes around flashing his entire live savings? Doing that on just about any place on the planet will all but insure a very exciting life, albeit a very short one. Worse yet, we might just end up empowering the same powers that are turning things to shit right now.

The IP thing though is very important. I've seen a couple of opensource and openlicensed projects die or suffer massive delays because of software needing to be rewritten from scratch, because of a disgruntled dev claiming their IP.  The software license thing is a cesspool and especially the opensource licenses need extra help, because even after all this time opensource and public domain still does not have the same legal track record as single ownership. The law seems to be mostly focused on individuals and public good and public domain don't immediatly seem to fit into an egocentric mindset.

Btw, convincing an uneducated jury is not a thing in most of Europe, because as far as I know the judicial theater system with popularity poll is more a thing in England and the US. The English always loved their theater. Not that the system can't be played, but they are more bound by the rules of law instead of spur of the moment sentiment. Any idea which judicial system this whole thing is supposed to play out in?

So in short, yes stealth is massively important. Way waaaaay beyond any short term gains. Hell what gains do you think you'll be able to keep without it? Even in the best case scenario and you make it big, then you should also realize that you've just painted a giant target on yourself.

Oops, almost forgot. I also do agree that the stealth feature needs to be properly scrutinized by smarter people than me. It has to be useable no strings attached and not in the control of any single entity.

General Discussion / Re: Bitshares price discussion
« on: May 28, 2017, 09:18:36 am »
Ha-ha, btsbots sold all my BTS right when the dump started. My gratitude to suckers who bought it :)

If that sucker bought all the way to the bottom, then at the moment he'd be pretty happy with his 30% increase in btc. I wish I was a sucker that got 30% profit on his mistakes.

I know I shouldn't but I had a little chuckle at all the jaded bts-veteran remarks. Seems the long bear market has traumatized people in not being able to believe the price could possible rise.

I'm not saying it will rise btw, I've only been part of crypto since the mtgox collapse and bear market. I've never experienced an uptrend like this and I also have a hard time trusting it.

Technical Support / Re: Membership Fees
« on: May 26, 2017, 01:27:44 pm »
So, in your opinion what should the fees be? For LM and creating assets?

Maybe it would be nice to have them denoted in something like bitusd. For new users the lifetime-membership might be a little steep at the moment. Having them tracked to bitusd might alleviate the problem during price swings.

Technical Support / Re: Membership Fees
« on: May 25, 2017, 10:39:08 pm »
Still waiting on price to adjust.  I'm trying to set up lifetime membership and create a token.  Right now all fees are crazy high including just transfers.  Without the low fees what advantages does this exchange have over others...?

Well this is also kinda a problem of luxury that was not anticipated. Never in their wildest dreams did the progenitors of bitshares anticipate such a rapid price increase, that the fee adjustment could not keep up.  :P

On a more serious note, I feel ya. I did appreciate the trolling by the wallet though with it stating that it costs merely 8K bts to upgrade to lifetime membership. Whish I actually bothered to do the math before I clicked it though. :'( Another expensive impulse buy.

General Discussion / Re: BlockPay in Serious Trouble
« on: May 24, 2017, 05:45:27 pm »
I got tired of wondering what's going on with stealth, so I asked [member=30868]kenCode[/member] what the deal is and he said his team resumed work on it some time ago and the public testnet is probably less than a month away.  That was really great to hear! 

Not to mention, apparently libsnark has been replaced by Confidential Assets (CA).  This is fantastic because with CA, transactions are much faster than with libsnark (which apparently slow down transactions by at least 40 seconds).  Also, with CA there is no "trusted setup" issue like zcash and other libsnark implementations have.  Anyone who has followed the "trusted setup" controversy even a little bit knows that it's a big deal.  So this is a very positive development for Bitshares!

Quoted the entire thing because it's that important. Also is it time for a happy dance or do I need to reel myself in?

General Discussion / Re: Dan's Next Project - EOS Rears its Head
« on: May 23, 2017, 09:30:14 pm »
EOS seems to be similar to Aeternity, wondering which one will be better?.

Judging just by things both projects have publicized then aeternity purely as a blockchain itself is not very impressive. 30 second blocktimes and 3 tx/s. Whereas the current blockchain of bitshares has apparently on average 1second blockconfirmations and thousands of tx/s.

EOS aims to increase and optimize the bitshares blockchain even further with hundreds of cores each at the very least close to bitshares current throughput per node/witness. He also talked about multiple eos-networks (like how we now have bitshares, steemit and peerplays), that would be able to interact with each other either through gateways or sidechains (provided that nut gets cracked).  The off-chain thing is a completely different debate, I don't know enough about that to have anything intelligent to say, other that I fear centralization and points of failure with that approach.

General Discussion / Re: Dan's Next Project - EOS Rears its Head
« on: May 23, 2017, 12:27:46 pm »
but I do think the community should take action to claim their piece of the eos pie.

Please clarify?

I'm not quite sure what was unclear about that part, but if you want examples of the pieces of pie.

For new developers on the eos blockchain and the potential competing options to do account creation, editing and placing and canceling orders without fees on to top of the increased speed and bandwidth. Could you come up with an easier sure win dapp than the tried and tested easy to copy and enhance opensource bitshares one? So I was suggesting that at the very least we should have that piece of the pie for bitshares.

General Discussion / Re: Dan's Next Project - EOS Rears its Head
« on: May 22, 2017, 03:29:32 pm »
Thanks to roelandp setting up a periscope stream on his phone I could pick up snippets of the presentation today. Unfortunately I only got snippets and I think I missed most of it, but here is what I could pick up.

No info yet on token distribution, updates will happen through the mailinglist at

As has been leaked on the telegram group, eos will be a next step in graphene technology adding parallel threads or processing as it were. Where applications have to be written around messages and every block can do multiple actions instead of the just one currently. Applications can communicate rapidly with others in the same blockchain, but also with other chains through sidechains which will have higher latency (40 seconds for confirmation finality)

The vision seems to be for multiple eos-chains (even private ones) to be able to coexist and communicate with each other, further enhancing the throughput and bandwidth.

There will be a slight overhead because of the vm, making it initially a little slower compared to single threaded applications like steem and bitshares, but because of the options to run multiple parallel threads and because of the multiple operations for messages per block that can be mitigated quite a bit.

I also think I heard Dan mention that nodes can pick and choose which messages to focus on, like an exchange not having to process socialmedia transactions, although all apps can still interact with each other.

EOS economic model is similar to steem, where initially revenue will be generated through 5% inflation of tokens, which can be changed and distributed in a still to decide manner by the token holders. (Although the 5% inflation can only be lowered not raised)

Eventhough quite a few big names are involved in the project already, everybody will have to buy in to the tokens in the same way. (Which I guess means no pre-allocation like with ethereum and ripple). Big names already involved in the project besides the ones already known, seem to be Bo Shen, Yunbi, bitfinex and some others I can't remember.

For now that's about all I can remember or was able to glean from my mostly broken connection to the periscope stream.

Hope this helps, have nice day.

Oh almost forgot. Dan did mention that he thinks bitshares should do some changes to match more with the concepts in eos. For example he thinks that users should be taxed less for interactions, like not having to pay fees to register changes on the blockchain and only asking a fee for executed orders not for just placing and cancelling them.

Still I think this is not immediately bad news for bitshares, but I do think the community should take action to claim their piece of the eos pie. Pretty damn sure that the exchange thing will be a big target for quite a few people.

I got the impression that if this eos-thing works it is going to make big waves and I do feel that ethereum is screwed. Or to speak in Tron terms: Ethereum program is about to be derezzed, end of line.

General Discussion / Re: Dan's Next Project - EOS Rears its Head
« on: May 19, 2017, 10:54:53 am »
One other thing I deduced from all the chatter in telegram is that EOS will almost definitely use a different economic model than bitshares for its tokens and bandwidth in line with his blog post about fee-less blockchains and similar to steem (with your stake controlling bandwidth).

In that sense I don't know how easy it would be to just move bts over or clone the eos tech. Then again it does open up the possibility to try different economic models for bts and see which one works best. Hard to say anything meaningful or make plans with the limited knowledge we have about eos at the moment.

But I do agree that bitshares should be right on top of this and probably start out with at least a sidechained foot in the door of eos.

General Discussion / Re: Dan's Next Project - EOS Rears its Head
« on: May 16, 2017, 11:11:43 pm »
I don't follow the Ethereum at all (why bother ;) ), what has been leaked?
Could you give me your quick summary?

I remember your attitude on shareholder freedom over the years, I was hoping you'd chime in :)

Oops, seems I did not word that as well as I could. I meant to say what has been leaked about EOS so far does not bode well for ethereum. I was referring to the snippets of information released on the telegram chat and elsewhere. Also reading all the comments from devs about their troubles developing for ethereum and the architectural differences with eos, then provided that eos works as intended then ethereum might just become obsolete before they are able to conquer the world. Since bts (and steem) are technically (apparently) a lot easier to adapt or integrate in eos, I figured bitshares future a bit more promising, as in, opportunities for the taking.

I have always feared the arrival of the big powers and to me Ethereum with their small group of "founders" and behind the scenes dealings and sponsors combined with their actions, is a very close match to how I'd envision an attack on crypto would take place. Conversely I'm keeping my eyes peeled with eos as well.

The "one chain to rule them all " concept is one of my worst nightmares. That's why I half jokingly proposed that eos stood for eye of sauron. Not that I've seen anything yet that would point to something like that, but it is something I'm very worried about. I most definitely would prefer if bitshares remains an independent entity, but I do realize that we need to grasp every opportunity we can to grow.

General Discussion / Re: Dan's Next Project - EOS Rears its Head
« on: May 16, 2017, 05:09:38 pm »
I think it probably will be good news for BitShares 2.0

I do not think that Dan will have spent another 18months of his valuable time redoing what he achieved with BitShares 2.0.
I'm confident that EOS will benefit BTS 2.0 shareholders.

But what if it doesn't? This isn't Dan's baby anymore and the decision is for the shareholders

I completely agree with your idea of staying as independent as possible. The chance that eos will be opensource is pretty high, so even in a worst case scenario, we are at least able to glean some technical inspiration from it. Hell from the looks of it, bitshares is in way better shape than projects like ethereum. I wouldn't want to be in their shoes, if even half of what's been leaked is true.

Then again ethereum apparently never had any problems with funding and hype, which of course had nothing to do with these big and nasty hidden powers behind the project, that have absolutely no nefarious agenda at all. Those powers would of course never use any untowards means to insure their monopoly.

General Discussion / Re: Dan's Next Project - EOS Rears its Head
« on: May 16, 2017, 04:46:20 pm »
If some of the leaked statements about EOS are true, then at the very least we have a roadmap target of potential bandwidth increase and/or a possibly easily accessible new community of potential customers if we play this right.

I don't immediately see this as bad news for bitshares. Dare I say the opposite or am I going to far then?

I'll try rerunning the ntp-client to see if it fixes it then, and I'll get back to you if it does.

I've had an issue with time being slightly offset in the past, but from what I remember that did not blank out the display, but gave a warning about it. That is of course dependent on if I remember correctly.

Yeah, seems that resyncing my ntp time did the trick. Sorry about that. It would be nice however if it showed an error instead of completely blanking out.

Now I can move back to the virtual machine I normally use for bitshares. I'm not all that comfortable having bitshares in my day-to-day  use browser, or desktop for that matter. Any suggestions how to safely remove the bitshares wallet from firefox, without destroying my profile? I've become rather sentimentally attached to it and it's impressive history.

Running the wallet from firefox through works fine for me.

As far as I recall the exact same installed light-wallet used to work, but maybe an update on ubuntu messed things up. After the problem started occurring I downloaded the most recent version, but the white-screen problem remained the same.

Someone mentioned in the telegram group as a response to someone else having the same problem, that it could be an issue with having and AMD-cpu, which I do have, but I don't understand how that's relevant, unless someone went overboard with the CFLAG-optimizations.

Pages: 1 [2] 3 4 5 6 7 8 9 ... 31