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Messages - hrossik

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General Discussion / Re: What if I have 11% of BTS and I am malicious?
« on: January 21, 2015, 02:15:32 pm »
An immediate and effective solution to this issue is actually very simple. Malicious delegates will likely be delegates that don't produce blocks or produce blocks and steal 100% of the inflation. Both scenarios are by themselves quite unlikely and not actually that hurtful to BitShares, but most importantly they are easy to detect and it's possible to see what accounts control the stake that voted for them. To ensure the malicious stake doesn't continue ruining things a hard fork can be manually circulated among the community that permanently destroys all the stake that voted for the malicious delegates. BitShares would be back up and running normally quite quickly, and the only person who would really be hurt would be the attacker.

Destroying all the stake is less than ideal. I don't think there is a way how to discriminate between votes really intended for the malicious delegate and votes selected with "vote random subset" and "vote as delegates recommend".

I know it would be probably just a small portion of votes, but in principle it wouldn't be right.

General Discussion / Re: Now we can finally see BitAsset yield!
« on: January 10, 2015, 09:38:34 pm »
Could anybody please explain, how can CNY have 1.5% yield with such a low volume? Yield is proportional to the fees, right? So does it mean that there is a lot of small transactions happening with CNY, compared to USD, which has higher volume, but lower yield?

General Discussion / Re: How to vote for delegates?
« on: January 05, 2015, 02:04:38 pm »
Thanks for help, I was confused with the column "Future Votes", which stated something different than what I specified in the Delegates section.

Selecting delegates + vote as delegates recommended did what expected. It just wasn't clear before doing so.

General Discussion / How to vote for delegates?
« on: January 05, 2015, 10:50:57 am »
Hi everybody,

for almost half a year I've been very excited about bitshares and I've been following the discussions on the forum regularly, but so far I haven't been able to make my vote. I am ashamed about it, but during the last days I've been trying to make it up. However, I found out, that I don't really know how!

"Vote as my delegates recommended" is a nice perk, but I also want to vote for some selected delegates, I feel confident about. I have selected them in the section of GUI client Delegates\My Votes. But the list of delegates displayed as "future votes" in the section My account\Vote is inconsistent with the selection I made.

Can you please explain how to vote for my selection (which is <101) with the rest of my votes going to those delegates, that are recommended by the ones I selected?

I feel very silly that I don't know how to vote, but I think that the mistake is not on my side. The section about delegates is clear, but My account\Vote should be more user friendly. I tried our wiki, but it is not very helpful.

I also love this page, but what I am missing there is the proposals. It's hard to find them here on the forum.

Well done!

Just one thing: when I want to share on facebook, it offers some crazy pictures from the videos together with the link. I was forced to use the link without the picture, which is kind of a pity. Is it possible to put there something more interesting/cool?

General Discussion / Re: This one is worth paying for a transcript!
« on: December 06, 2014, 04:55:15 pm »
next ~4.5 minutes. It's freaking hard :)

Arthur Falls:
Do you see monetary systems like bitAssets foreshadowed in the work of any economic theorists?

Dan Larimer:
Wow that's a deep question. I would say that, uhmm, foreshadowed if you know what you were looking for, it's really been around for hundreds years, you know, a mortgage, an IOU system collateralized that has been used as money this whole time. Shares in companies has been used as money. You have digital bearer bonds, right? Thats what bitcoin is. It's a digital bearer bond. It's a hybrid between registered shares and bearer shares. You have this global ledger, but their owners are anonymous. Those concepts have been around lending using stock as collateral as probably existed now for very long time. If you wanna get to a very high level, I'd say that the recognition to all value is perceived value. That shares aning system can have value. Our well accepted economic principles that have been around in the Mises Austrian school for a very long time. So that is the foundation upon which this is built.

Arthur Falls:
Mises proposes several categories at which what we think of broadly as money might be divided. A medium of exchange, a money, and money substitute. Do bitAssets fit anyone of these categories?

Dan Larimer:
Well, let's define some of those categories in a greater detail, because they can be used medium exchange. Medium exchange, money and money substitute, that's what you said?

Arthur Falls:

Dan Larimer:
So, here he is inferring that gold is money, a IOU gold is a money substitue, and a medium of exchange is a currency like the dollar, maybe. And in some sense if gold is money, bitGold is a money substitutue. However it's backed by a collateral, which is not an IOU so that could also be viewed as money. So is bitUSD a money substitute? I think it's all of the above depending on which angle you take.

Arthur Falls:
That's a contractual right something, isn't it?

Dan Larimer:
No, it's not.

Arthur Falls:

Dan Larimer:
Nope. We are very adamant that the key differentiating factor between bitshares and cryptocurrencies and all the distant financial systems that there are not contractual obligations. No one has the power to compell you to do anything in future. You can't necesserily prevent things from happening like margin calls, but you can't even make it happen, right? So no one's contractually obligated to behave in any particular way, and yet everyone does behave in such a way that has the effect as if there were contracts. And that's the key distinction. There is no one you can sue to compell to behave in a certain way. There is no one who can die in if contract unfulfilled.

Arthur Falls:
Do bitAssets run a foul of Mises regression theorem? And if not, why not?

Dan Larimer:
As regression theorem meant something has to have the IOU in the market for some practical purpose before it can be evolved into money.

Arthur Falls:

General Discussion / Re: Coindesk Poll - Most Influential
« on: December 04, 2014, 09:46:51 pm »
"My personal opinion is that you should never vote in a system that is rigged/unprovable on the principle that your "vote" may or may not actually be counted but your participation is certainly counted on to give the result legitimacy."- can't remember who said this, but it applies here.

:) I agree that this is exactly the case...  +5%

Here is my key: BTSX6AzocNLAVdxUc9c52NUJyexDKJUGWkGpYu9EjZV9UevakpAHu2

Thanks in advance..

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