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Messages - CoinHoarder

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16
If you don't believe in BitShares' future, just dump (if you still have some) and leave, no need to waste time here.

I have a moral obligation to help Bitshares succeed to the individuals whom I suggested that they invest into Bitshares. I was effectively Bitshare's unpaid Bitcointalk.org ambassador for several years.

If you guys want to ban me from these forums for posting my opinions and ideas no matter if they are popular or not- then so be it. But until then...

17
I remember that CoinHoarder use to be supporter of BTS.
What happened?   :)

Meh, kind of a lot of reasons.

- I realized the Larimers are greedy when they stopped sharedropping PTS/AGS, due to the stuff with the Bitshares DAC mergers, and how the Steem project started.
- I disagreed with the lack of development (pretty much only GUI work done since Dan left)
- I felt like my opinions and ideas weren't taken seriously by the community.
- I realized there are better designed DEXs that will eventually come to fruition that don't use IOUs or derivatives.
- Tether kicked bitUSD's butt.
- The proliferation of Bitshares vaporware fork scams that never seem to come to fuition (or at least to their full potential) by "community" members.

Even with all that stuff, I still root for Bitshares because I was such an avid supporter in its beginning. Some people bought BTS because of my advice, so I want Bitshares to succeed. I just dont own any anymore. I have always been a Bitshares supporter, but I am more honest and blunt than most, so my posts may not come off that way.

18
Multi-signature IOU gateways for DEXs are so 2016... these already exist on Waves, Komodo, Supernet, etc., and have existed for some time now. It is nothing new and will be outdated implementations soon. They are technically still IOUs like OPEN.BTC and counterparty risk still exists if the majority of signers are compromised or collude. By the time you develop such a product, better solutions will have arisen.

Look closer at Atomic Swaps (no IOUs, derivatives, or counterparty risk). They are coming to fruition soon in 2018. There have been several successful atomic swaps done in both development and live blockchain environments by many blockchain projects. The only thing that is missing is a good GUI, which is relatively easy to code...
https://twitter.com/SatoshiLite/status/911328252928643072
https://blog.decred.org/2017/09/20/On-Chain-Atomic-Swaps/
All Lightning Network implementations are working on Atomic Swaps (at least 3): https://lightning.engineering/ & https://blockstream.com/ & https://acinq.co/

DEXs in development that will leverage Atomic Swaps:
https://www.altcoin.io/
http://barterdex.supernet.org/
https://blocknet.co/

Anyone that is informed in the crypto space knows this is the direction DEXs are heading. Not only DEXs, but interoperability will go mainstream in 2018/2019 rending crypto IOUs (OPEN.BTC) and derivatives (bitBTC) useless and not worth the risk (unless perhaps interest from trading fees is brought back to the Smart Coins... but that probably won't save them anyways... and I digress). Get ya'lls head out of the sand before you get buried!

19
Where is a DEX without third party risk?

Better DEXs are coming soon (months, not years). The whole point of a DEX is to eliminate third party risks. Bitshares' DEX has IOU risks (Open Ledger's BTC, LTC, etc.) and/or systematic risks (Smartcoins). Plus, both of those assets have far less utility than the real assets.

The DEX of bitshares is the closest thing to that concept
You've got to consider the future if you are speculating in cryptos. To judge things as they exist now is too short sided.

and may be among the first to use Atomic Swaps if Open Ledger performs the promised developments, then our DEX could exploit the potential of BitUSD very well, without others taking advantage of that.
"may be" is not good enough. It needs to happen, and it needs to happen ASAP before another USD derivative gains network effect in this market.

Tether does not have any reliability. There is no real support and it can be stolen http://news.8btc.com/30-million-usdt-hacked-might-favor-bitusd-of-bitshares
Tether 24hr volume: 632,797,000
bitusd 24hr volume: 1,329,530

The reason why you and I hate Tether is irrelevant. Look at the scoreboard which reflects reality. Since Tether's inception, it has schooled bitusd in use and adoption. People don't care that it is centralized and could collapse any moment. All they care about is that it has a high amount of liquidity, and that it is closely pegged to the USD.

20
General Discussion / Bitshares will be missing out on a huge market if...
« on: November 21, 2017, 05:26:16 pm »
Atomic Swaps are not implemented ASAP for both the BTS token and all of its its SmartCoins.

The Lightning Network and Atomic Cross Chain swaps will enable high interoperability between blockchains. The DEX is no longer Bitshares' killer feature. There are better designed (with no derivatives or IOUs) DEXs coming.

IMO, bitUSD is Bitshares' last hoorah. It is the oldest, and most trusted, decentralized $1 USD-pegged derivative in existence.

Making Atomic Cross Chain swaps work for bitUSD could establish it as the go-to option (a base trading pair) for other better designed DEXs. They will need a trustable USD pegged token.

If Tether gets Atomic Cross Chain swaps first, then it might be game over for Bitshares... they already have the centralized exchange market on lockdown. The decentralized market is the only market left for bitUSD.

Forget the crypto derivatives like bitBTC etc, cross chain swaps will make them obsolete. FIAT, stock, index fund, and other commodity derivates are a different story though. Bitshares' killer feature is these types of SmartCoins, not the DEX (unless cross chain swaps are implemented in the Bitshares DEX that is...)

21
Make a disincentive for holding a bitAsset when it can only be bought above 5% of the spread. An immediate idea that pops into my head for such a disincentive is demurrage.

22
I am looking for a home for a dApp I will be developing shortly, and had an idea recently that it may be possible to create a dApp in Bitshares without any changes to the Bitshares protocol.

I am looking for feedback:

- Create an alternative GUI for Bitshares specifically for the decentralized application
- The decentralized application logic will be stored client-side. Everyone will have a copy, and know what the rules are.
- Issue a PARENT asset representing ownership in the application
- Issue CHILD assets of the above PARENT asset representing the game cards
- Leverage dynamic account permissions to autonomously change the PARENT account permissions proportionately to CHILD asset owners.
- Consensus will be reached by majority rules. Someone would need to obtain 51%+ of the active (online & participating in the governance) asset supply to do an attack.
- The rules of the dApp will be enforceable by majority rules autonomous asset seizing.
- Allow users to choose a proxy so they do not need to maintain an online client to secure the decentralized app.
- The accounts that remain online and active in the governance of the dApp (involved with proposing and voting for different actions or transactions via the dynamic permissions) earn proportionally:
+ the market fees associated with the trading of game assets
+ a percentage of all fees that any referrals generate (the dApp account would be a Lifetime member)
+ gameplay-related transactions (RNG crypto proofs, etc.)

The idea is pretty simple really... what do you guys think?

23
General Discussion / Re: to GOLD/SILVER/BTC holders
« on: July 11, 2017, 02:45:17 am »
A black swan would be a death blow to Bitshares... even if the market recovers. Just like it was to Nubits.

strange how bitshares is still alive even after bitrub black swan some years ago.

black swan only implies a dead and illiquid market, not the worst thing to shut them down for the time being, if you ask me.

A black swan in an obscure market that hardly anyone used (bitRUB) would be very different from a black swan in a smartcoin that is more used.

And nowadays there are more eyes and ears on Bitshares. This is my first time to even hear about bitRUB, but if Bitshares had a black swan I am sure it would be all over the crypto news sites. It would be very bad for the price...


24
General Discussion / Re: to GOLD/SILVER/BTC holders
« on: July 10, 2017, 06:48:41 am »
A black swan would be a death blow to Bitshares... even if the market recovers. Just like it was to Nubits.

25
General Discussion / Re: Bancor: Smartcoins With Infinity Liquidity
« on: July 03, 2017, 04:16:36 am »
The concept behind Bancor is so simple. Couldn't something like this easily be replicated by having bitshares as the reserves and building a token on top of it?

Yeah, but I think most BTS shareholders are apprehensive of diluting BTS tokens for new features based on past experiences.

Me personally... I say we keep development moving and implementing new features, otherwise we will be left behind... as far as blockchain tech goes.

26
General Discussion / Re: Bancor: Smartcoins With Infinity Liquidity
« on: June 14, 2017, 01:26:15 pm »
The main showstopper I see with Prism is that you need a counterparty. The blockchain itself should not act as a counterparty to speculators, IMO. This means that creating a Prism is not sufficient, you must also find someone as your counterparty. The latter is what makes Prism much more complicated than Bancor, IMO.

I had imagined that Bitshares users would be the counterparty on Prisms, similar to the way they are the counterparty for Smartcoins.

Prisms would be traded on a separate tab/page on the DEX than Smartcoins.

I do agree that the necessity for a counterparty is a negative though.

27
General Discussion / Re: Bancor: Smartcoins With Infinity Liquidity
« on: June 13, 2017, 07:34:35 pm »
Perhaps we should implement it after all, just to prove our superiority... https://twitter.com/joeykrug/status/874450730182000641

I had forgot about Bancor Smart Tokens the other day when I was discussing adding Prisms to Bitshares. If Bitshares were to add a feature, then I think this or something more along the line of Prisms (https://bitsharestalk.org/index.php/topic,24271.0.html) would be a good idea.

After learning how Bancor works, I have realized that Smartcoins still have their place, as you cannot create a Prism/Bancor Smart Token with Gold, Silver, USD, GOOG, APPL, (etc...) in it without using something like a Bitshares smartcoin to go in the Prism/Bancor Smart Token portfolio.

Copying either Bancor Smart Tokens or Prisms on the Bitshares blockchain would each have their own separate pros and cons:

Bancor:
High liquidity
More complicated economics
More complicated to implement into Bitshares

Prisms:
Low liquidity
Less complicated economics
Less complicated to implement into Bitshares

IMO, I think the liquidity provided by the Bancor Smart Token model be worth the higher development costs, because I think that liquidity is still the main thing holding Bitshares back. Implementing Prisms on Bitshares will probably take another 3 to 5 to 10 years before we see them liquid enough to be very useful. We would have to wait for the Prism's market liquidity to bootstrap itself slowly over time, similar to how we have had to wait a long time for decent Smartcoin liquidity.

Bancor on the other hand has liquidity baked in from the get go. This would bolster liquidity on the DEX. You could create one asset Bancor Smart Tokens that only contain one Smartcoin in its portfolio, such as bitUSD, and let the free market decide which market pegged asset design they like more. Then there's the added benefit of easily creating multi-asset  Bancor Smart Token portfolios too.

It seems like those knowledgeable with Ethereum think Bancor will not work on Ethereum due to scaling issues, so I think it would be really good marketing if the same model were made to work on Bitshares. Along with all of the added benefits of adding the feature. I am normally against dilution for development/advertising, but I think such a feature would be a big boost to the value of the Bitshares token and its DEX.

28
General Discussion / Re: Prism
« on: June 12, 2017, 03:07:32 pm »
I think this would be a cool feature for Bitshares, and it would tie in nicely with the Bitshares DEX and Bitshares' overall "business plan" of offering financial services.  I don't think that it would be something that would be too hard to implement too:

Create a new smartcoin asset class called "prisms" and allow them to be created much cheaper than normal smartcoins/UIAs.

Since the price feeds already exist, it would be easy to get the value of each prism without having to publish a price feed for each and every random prism that was created. For instance, the price feed for Bitcoin, Gold, and USD could be used as-is in an infinite amount of prisms as long as the prism's contents were published on the blockchain like:

Prism1 has 90% bitcoin, 5% gold, and 5% USD
Prism2 has 10% Bitcoin, 80% gold, and 10% USD
... etc.

The same price feeds that already exist can be used to calculate each prism's value autonomously because the values and proportions of each asset in the Prisms are known to all nodes.

Then, separate Prisms from the rest of the Smartcoins/UIAs on the DEX under their own tab or page and allow Bitshares shareholders to be the counterparty of any Prism they want. Just like with Shapeshift's prisms, people can go short or long on any Prism that someone has created, thus people can "copy" the portfolio of seasoned investors or popular well performing portfolios or bet that Bitshares will outperform the Prism.

This would be much more decentralized than the way Shapeshift is doing it, as they are the one and only counterparty to all Prisms that are created. The smart contracts they run their Prisms through are a smoke screen so they can label a centralized service as being decentralized. Furthermore, since everything is done autonomously, I think that Bitshares could kill Prism on the fee aspect of things.

29
Will ask the devs to begin procerdure

regards

Ronny

Awesome! I think most everyone would much rather use Open Ledger/Bitshares DEX than CryptoDAO.com

30
General Discussion / Re: Bitshares price discussion
« on: June 11, 2017, 01:00:30 pm »
Like what have you done?
I have done a lot more than you Mr. just showed up last week. You can't even begin to understand what I'm talking about, as you don't know what most of the things on that list are and what they meant to Bitshares.

I have been one of Bitshares' biggest evangelists since the get go, and brought many people into the ecosystem from Bitcointalk since 2013. I spent countless hours debating PoW zealots on the merits of dPoS, black swan naysayers on the promise of bitAssets,  spreading awareness about the huge need for decentralized exchanges within the cryptocurrency ecosystem, and defending the Larimers personally from antagonists (antagonists who ended up being correct all along about them.) I take it personal because little beknownst to me at the time... I was promoting a bunch of scammers (Larimer and gang). I care about my reputation and never want to participate in any scams or see people scammed, so it is easy to see why my disdain for the Larimers is such. My crypto-related businesses (physical cryptocurrency minting + another one in development) rely on people placing their trust in me. Promoting Bitshares has harmed my reputation.

Furthermore, Dan, Stan and company continue to ignore the contract they agreed upon on these very forums.  A contract of which I was a participant in by donating funds to AGS. Research PTS/AGS and how they were marketed by Stan. Just read his past posts. Research the Bitshares merger. Another big clusterfuck. The Larimer's have brought this "infighting" upon themselves by reneging on our contract. Don't you blame me for any of this for a second, and if you do then it is out of pure ignorance.

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