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Messages - Ander

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its simple

rate limited / time share

all dex trades will be free or very cheap  and memberships rewards still in effect

small players cant make trades and cancel too many times or they get locked out for short period

big players can spam network, but need to purchase big stake first

coupled with % based fees, BTS now is competitive with DAG mesh networks like IOTA and cheaper than Ethereum

Wow this is actually...a good idea!

So essentially one could make a limited number of 'free' transactions in a time period, and trades made would have a percentage based fee.  (I've wanted to see a percentage based trading fee with incredibly low base fee for a while).  Power users would need to buy a lot of stake to get enough free trades?

One worry is that we need to make sure we avoid blockchain bloat so that Bitshares is sustainable in the future. 

We need to ensure we do not allow spamming (including the possibility of someone making 10000 accounts and using all of them to spam, essentially performing a sybil attack on the free transaction limit). 

We need to ensure that the network is still generating some fees.  (Percentage based trading fees is great).  This is needed both for the referral program to work, and for BTS to have value.

I agree, we shouldnt dilute for any reason at this price.  It doesnt matter if the dilution is delayed or not.

General Discussion / Re: Appearance of Deflation vs No Dilution
« on: February 05, 2016, 08:07:34 pm »

If I recall correctly the exclusion of the reserve pool from total supply was because it couldn't be spent and it provided the feeling of deflation. However the cost of that is the stigma of dilution any time that pool is tapped.

What are the communities thoughts on basically pulling a "Ripple" and adding the reserve pool to the communicated total supply and doing away with the term dilution altogether? There'd be a one time hit as the market adjusted to the new supply but the long term benefits may outweigh that cost.


Hell no.

What would happen is that instead of having an $8M market cap at a 2.5B supply, we would go down to a $*M market cap for the 3.7B supply.

The only thing pulling a ripple did was make everyone hate them, remember? 

Furthermore, listing 3.7B supply of BTS would not be accurate, because this amount does not exist.  It would be like listing BTC's supply at 21M right now, and saying its market cap is 50% higher.

General Discussion / Re: Bitshares price discussion
« on: February 01, 2016, 05:51:34 pm »
morpheus is our new Ander

I'm glad there is at least one person in the world that still believes in Bitshares' potential.

Here is something that makes me believe in BitShares - the exchange is actually growing in usage:

The overall trend is up, and each of those peaks are higher.

You mean the asshole's "bot" is working greater each passing day?... well together of the other 'no-matching' bots?

Are the bots paying fees resulting in BTS being burned or returned to the reserve pool?  If so then it doesnt really matter whether its a bot or a person making the orders.

Successful exchanges with liquidity will attract a lot of bots.  Poloniex has tons of them, any time you put in a big order, bots will instantly move orders in front of it.

General Discussion / Re: Bitshares price discussion
« on: January 29, 2016, 11:47:26 pm »
morpheus is our new Ander

I'm glad there is at least one person in the world that still believes in Bitshares' potential.

Ander you say they're a zombie exchange yet they have almost $200k volume, that's quite a bit. Specially with the reputation they have

Their volume is less than 10% of what it used to be before the hack. Probably way less.

So they are still alive, yes.  (Better than Cryptsy!)  But they really seem like the walking dead.

The 1% thing used to be for all coins OTHER than BTC.

But now they added it for BTC, essentially 'stealing' 1% of the BTC of everyone who previously had BTC on there.

Usually exchanges do this kind of thing when they are short BTC, for example, Cryptsy recently had less BTC than it claimed to have in customer deposits, implemented a .5% fee to withdraw BTC, and accelerated their demise.  After a stampede of withdrawals resulted in them running out of BTC, they ceased BTC withdrawals or slowed them to a halt as they could only send BTC out when some fool deposited some. 

After this everyone started to spend all their BTC to buy alts, withdraw the alts, and sell them elsewhere to get their BTC back.  The alts that could be withdrawn such as Doge and ETH were going for 30% premiums versus other exchanges.  Eventually many of those shut down as they ran out of them as well.

It wont be the same at BTER because they have already been a zombie ever since the February 2015 'hack' (possibly insider job), stole over 7000 btc from them, or most of their user funds.  But them implementing a 1% withdraw fee for bitcoin is an additional sign that they are in trouble and that they dont have enough BTC to cover what they owed, even after they gave their customers an 85% or whatever loss of their BTC.

Shouldn't we open a reddit post inviting Bter user to move to OpenLedger ASAP?

OpenLedger appeals to exchanges that are not scams and dont have fractional reserves.  For those that do, moving to them would reveal their scam.

General Discussion / The BTER zombie moves closer to its inevitable doom
« on: January 28, 2016, 06:56:16 pm »
In case anyone is still dumb enough to have any coins on bter, you should get them out ASAP.

Bter just added a 1% fee on all bitcoin withdrawals.   Remember when Cryptsy added a 0.5% fee on BTC withdrawals to try to stem the bleeding, and it resulted in everyone fleeing the exchange and revealing them to be running a fractional reserve.

(Note: BTS on bter is not withdrawable, because they never upgraded to 2.0, and they are also most likely running a fractional reserve of the BTS they claimed to have.  But some other coins can still be withdrawn, and you should get all your BTC out fast before they claim another 'hack' and go down for good. 

Its incredible that they managed to survive this long as a zombie exchange, they outlasted Cryptsy somehow!

General Discussion / Re: Bitshares price discussion
« on: January 28, 2016, 03:16:42 am »
BTS drops 100 sats instantly whenever I post on this forum. :P

For the love of god get a sock puppet man.

Oh I meant 200 sats lol.

I might have shorted.

General Discussion / Re: Bitshares price discussion
« on: January 28, 2016, 02:50:21 am »
BTS drops 100 sats instantly whenever I post on this forum. :P

General Discussion / Re: Bitshares price discussion
« on: January 28, 2016, 02:26:39 am »
Just dont go buying BTS on margin using your BTS as collateral again...

General Discussion / Re: Bitshares price discussion
« on: January 28, 2016, 02:19:08 am »
Wow BTS going up. Thats not supposed to be a thing that it can do. :P

General Discussion / Re: Meanwhile - Ethereum quietly overtakes Ripple
« on: January 26, 2016, 10:15:45 pm »
Yep, ETH got dumped like it was BTS or soemthing. :P

General Discussion / Re: Bitshares price discussion
« on: January 26, 2016, 10:15:25 pm »
Those 13M already took us down form 1100 to 800s.

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