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Messages - BunkerChainLabs-DataSecurityNode

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General Discussion / Re: Forget Smartcoins, how about Dreamcoins?
« on: June 20, 2016, 07:04:38 am »

How is what you are saying different and why would it be better?

It's an interesting idea.... Ever since you posted those pictured from back in the day where in big bold writing on the Bitshares booth display it read '+5% ON EVERYTHING' it has been floating around in my head how far from a departure the network as a whole has gone from that, and in turn so has a lot of other things as far as the value proposition in Bitshares.

I know there were issues in previous iteration of this.. but I can't help feeling after all this time we should be able to have something better now.

Is it so bad that I would like my dreamcoin to be bitUSD CAD CNY EUR?

General Discussion / Bitshares Leadership - With Style!
« on: June 20, 2016, 06:23:14 am »
What style would you like to see? More importantly, what style do you believe would best suit the Bitshares DAC?

Review this chart, cast your vote, and then explain why.

The recent events on ETH/TheDAO bear a lot of parallels with the proposal discussed here. Of course when I wrote I didn't dream of someone screwing the DAO. However, that's what happened: someone read the "fine print" of the DAO contract, and used it to his advantage.

Today, I read this comment from @cube, which got me thinking:

Yes, "the intent of the parties" is the key.

I agree. Whenever a disagreement about the interpretation of a contract is brought before a court, the court will take a step back and try to find out what the original intent of the parties was when the contract was set up. The precise wording of the contract is relevant only insofar as it sheds some light on that question - which is usually the case, but the truth is bigger than the wording of a contract.

I think in our case here, the intent is quite clear:
SmartCoins are guaranteed to be worth at least their face value

Even some newer documentation that postdates BSIP-0016, like EstefanTT's writeup or Chronos' first video states that bitassets can be redeemed for their equivalent value in BTS. Which will no longer be true after BSIP-0016 has been accepted. The 1:1 settlement guarantee is the big print, and IMO that's clearly the intent of our BitAssets smart contract.

@cube @datasecuritynode @clayop @Harvey @abit @ebit @bitcrab - please reconsider your vote on 1.10.286.


This is a good time I suppose to explain why @datasecuritynode choose to vote this way.

From what was observed, the Worker through which a polling of the community was taken on this particular change was done, and it was given support.

It's been seen the arguments for and against this and a similar perspective of what has already been expressed regarding social contracts and the intent are shared.

It's believed in this instance that as a Committee member, the vote should go the way the majority of stakeholder voters are choosing to go on this particular matter.

In the end, if it turned out to be a bad decision, it can always be turned around again.

This ability to move and adjust to conditions is what gives the network amazing capacity.

Can happen to any poorly written smart contact anywhere.

General Discussion / Re: Waves
« on: June 14, 2016, 08:04:35 pm »
Getting close to release.  Waves is the new BTS!  Lets see what it can do.

If by BTS you mean Ripple.. then I agree. :)

General Discussion / Re: [ANN] Bitshares simple wallet template
« on: June 14, 2016, 03:26:50 pm »
 +5% +5% +5% +5%


Official Update

Peerplays Update: Pre-sale Sold Out!

For details check out our news posting here:


Latest Press Release:

Peerplays to Innovate Ethereum with Sidechain for theDAO


Well, if KenCode has his whales behind him and they are going to fund the development then I guess it should be up to him and his team. As long as the solution is working and they commit in doing everything right with the GUI as well, then I can't see a reason to argue.

However I still think that little privacy = no privacy for me and untested-new-high privacy technology is both too risky and time consuming.

On the funding side, would anyone consider doing an ICO-type funding? I know it might sound crazy, but this discussion has been within the NXT community as well.

With the current liquidity pool workers, market cap, the existing dilution from the merger and the Chinese community voting against most projects, we should try and raise some money for a specific number of projects and sell BTS to whales OTC. If that happens via a hard fork, that would be the quickest way. Create an account managed by an elected committee that will handle the funds and get Ronny to assist us with the escrow.

This would have many benefits :
1) No immediate drop in the market cap
2) Immediate access to funds and we don't have to worry about the votes, so mini projects like Chronos' videos, as well as svk can keep being funded.
3) No more arguments about funding workers
4) More whales would get in the ecosystem that could invest more if everything goes well both in terms of development and privacy
5) ICOs seem to attract a lot of attention recently and raising 500.000 especially for an established project wouldn't be that hard. With the right promotion BitShares could attract more people to get involved.

For this one we need some people to lead the way. We need a good plan first and then a strong committee to implement the things the majority of stakeholders and CO participants has agreed on.

For new networks yes... why would an investor want to come in and make a bunch of existing holders more rich with their money?

This is the position I have gotten numerous times when talking to investors about bitshares.. there is no clear ROI... and the politics that have divided the direction of Bitshares (anti-dilusion vs. etc) only heightened the risk profile.

I understand that this is an FBA though... which investors understand.

Blinded transfers as @arhag and @dannotestein have already outlined for the win.

@kenCode I know IPFS is cool, but there is no chance in hell anybody should trust it with their financial data. Further, it is extremely dangerous to have elements of our blockchain/user accounts relying on another to work. @arhag backup to the blockchain solution is the elegant reliable and sellable choice.

Really excited about the prospects of blinded transfers!!!


You can trade Peerplays at Freedom Ledger:

The pair with support now is BTS (Bitshares). However, we will be updating Freedom Ledger to easily navigate to BTC/Peerplays and USD/Peerplays in the next day.

Note that the market fee is 5% while we are in the 2nd Tier of the crowdsale.

Following the end of the 2nd Tier of the crowdsale, this fee will be reduced to 0.25% (same as bittrex/poloniex).

Trading on a Decentralized exchange is far safer than a centralized one, since the orderbooks are 100% on the blockchain. This means that you are in control of your private keys the entire time your orders are on the books, unlike centralized exchanges which require the keys for your tokens to be in their control in order for you to trade.

Freedom Ledger will be continually improving going forward. You also have the option to use OpenLedger if you wish, since they both run on top of the Bitshares Decentralized Exchange.


Good thread. BTS is the only chain besides BTC that I actually use for its practical utility to me. That really says it all.

I've been pondering ways to "revive" bitshares (more like "give it momentum again" - it isn't and was never profitable, though we're getting close now that we are not inflating).

Jakrub disappears (again).. Toast reappears.. what planets aligned to cause this?! :D

Peerplays Update

Stay tuned for the final version the DAO proposal - it will be ready for publication later this week. Very interesting... it seems that Cointelegraph has already begun to speculate:

Tier 1 of the pre-sale is officially over. It concluded less than an hour ago, with a single contribution of over $20k. Much appreciated, Mr. whale :). And thanks to all the rest for such a strong show of support so far.

In line with the official Peerplays allocations, the final phase of the pre-sale (100k tokens) are now for sale at $3 each.

Also, just a quick note for those of you who missed last Friday’s live update, on Tuesday this week we are launching a Logo and UX design contest with over $2500 in Peerplays prizes. Stay tuned for more details on that.

Sorry I have to post and run today - much to do, and much to look forward to.

Talk soon.

Soooooooo how about that Bitshares thing huh? :)

WHAT do YOU want?


Ordinary people using it as an online banking system.

Traders using it for forex, speculation.

Savers using BitETFs and Smartcoins to store wealth.

I want to be able to store wealth privately on the blockchain, to trade, save, invest, speculate, to do with my hard earned money what I please.

I want to be able to pay online using BitUSD.
I want to be able to send 500 BitUSD to a friend who needs a break instantly, across the world.

I want to use the dishonest, corrupt, extorting banking system as little as I have to.
I'll take ownership of my finances.

Fantastic.. now on a scale from 1 - 5, because I counted 5 things there, what order of importance do you think those things should be introduced? 1 being MOST important, and 5 being least.

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