How did BitShares handle the market crash?

It broke.. detailed explanations already provided above. Ultimately self interests won out to network interests, again. You learned how this goes by the time you got through some time in Steem. However, the design premise in Bitshares remained and failed under pressure by debt holders to save their wealth at the expense of the integrity of the network. Since then it's been all downhill generally. This only became compounded in the downturn recently.

On the flip side, you can say that it worked as it was supposed too... but the current scenario only replicated the same manipulation of markets as we see in the financial world that has disillusioned many prompting them to sell off BTS and not look back till the integrity is restored.

Why do you ask?

I support this effort.

bunkerchainlabs-com committee member has voted to approve.

Jonathan

Thank You For Supporting DataSecurityNode! - Bitshares now has Nuclear Bunker Protection!

Since telegram isn't the best place to reach everyone I decided to resurrect this old threat for our witness DataSecurityNode since we have recently been voted back in as active.

I thought it a good idea to give an update on our current running configuration.

Our witness operates within a cluster environment we have created which still operates from the same nuclear bunker. The particular cluster for the Bitshares nodes utilizes 5 servers configured each with 20 Intel cores, 512GB RAM, and a combination of NVM and SSD storage with 6TB of capacity. The storage cluster provides redundancy and performance and another backup storage server provides additional backup.

We have a secondary location in Montreal, Quebec where we have a similar configuration in case we have an issue at the bunker location that may cause extended downtime.

Between these two locations we are currently operating 2 witness nodes, 1 seed node, and 1 API which is publicly available though we are still tweaking its configuration. We will be joining the testnet network this month pending approvals.

The bunker has gone through a number of upgrades through out the years including a more robust backup power grid, and dual fiber trunks with diversified transit and transport providers. Most of our missed blocks from the past was due to these infrastructure issues that we were still in the process of updating. Since updating though we have been running great! We now have more onsite staff who work every day to continue to improve and maintain network server operations.


For price feeds we are using the following for sources:

Paid Feed Sources:
openexchangerates
currencylayer

Free with API Key Sources:
fixer

Free Feed Sources:
quandl
btcavg
huobi
binance
openledger
poloniex
bittrex
gdex
bitshares
coinegg
cointiger
coinmarketcap
lbank
zb

MSSR / MCR
CNY  - 101% / 160%
USD  - 102% / 160%
EUR  - 102% / 160%
ALL  - 110% / 175%

Besides our node operations, some of you may know that we are working on other graphene elements which we would like to introduce as a BSIP rather soon that will provide blockchain interoperability for Bitshares.

If you like the idea of Bitshares having the support of a nuclear bunker data center to give the blockchain extra hardened security, then a vote for DataSecurityNode provides that!

I am available on telegram if you need to reach me at https://t.me/jbahai

Thank you for your support!

Jonathan

Proxy bunkerchainlabs-com has voted for this witness

I think that any witness who isn't providing price feeds is failing at the witness role, even a small quantity of price feeds is a poor effort - we should be maximizing the amount of price feeds provided by witnesses.

At the code level it is completely up to the witnesses.. for a while we had some refusing to publish CNY because they couldn't agree with the changes being made to the markets.. they are gone now.

I see this thread posted yesterday: https://bitsharestalk.org/index.php/topic,24118.msg305827.html#msg305827

I was voted out the day after Rolands witnesslog came out showing my CNY feed 1 point over others in the middle of a CNY feed crisis where the primary sources everyone uses were down.. its because I am taking in other sources that most are not my price comes in a little higher. Should be noted there are some that are lower too.. the median is what gets used. All Chinese voters were quick to unvote me and vote in all these ones you see now. That was over a week ago... which is why it seems strange that this post comes out yesterday attacking my witness... I can't help but wonder if there is misinformation being circulated in the asian chat channels that I am unaware of.

Really it is completely up to @bitcrab @alt who will be witnesses now because of the proxy power they have combined.

In terms of server resources I would suggest the standard should be at this point for bitshares:

2X Dedicated Server minimum specs 1 Quad Core CPU, 32GB RAM, 64GB SSD drive (preferably RAID1), 100mb uplink
2 X Virtual Server Seed Nodes of whatever is required at that time with open API connections for the public to use.
1 Fully qualified domain name in your control not using a free service domain.
Located in a minimum Tier 2 uptime standard data center, or the equivalent.

If we can agree on this being the standard by which witnesses should operate, then it could help with the baseline in regards to the framework of network resources for each node.

I think the 5hr a month baseline is decent as a retainer at this stage.

All that said, I think a baseline that comes to $900 a month is a good place to be with all this in mind.

There is a MUCH better way to reduce the pay of the witnesses and bring more value to Bitshares.

Vote for more witnesses.

The amount that goes out is based on 3BTS per block

Those blocks are distributed between the Active witnesses.

The less active witnesses we have, the more they get paid.

At present 2 very good long time witnesses are no longer active because the number of witnesses has been reduced from 21 to 19.

What we should be doing is keeping the pay where it is at, and having 30+ Active witnesses instead.

More feed data, more competition, more network resilience.. aaaaaaand... all for the SAME PRICE!

How do we do this?

Vote for more witnesses that deserve the vote. If we don't have them then go out and tell people about the opportunity. Invite new people who are will to show some BTS love and bring with them their own network to love BTS too.

Squeezing and trying to punish existing Active witnesses isn't the answer.

Bring new fresh ones and expanding our number from 19 to 30+ is.