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Messages - monsterer

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136
I'd suggest this instead: one of our community members (someone who has a good understanding of BitShares) teams up with an external C++ expert and they write a tutorial together in close cooperation with CNX.

What you're saying is like saying you're going to make a tutorial to turn a piano salesman into a world class pianist.

137
So what do you propose?
If it is the case that for an "uninitiated c++ developer" it will take years to acquire enough knowledge to implement & deploy any of our BSIPs, then we are screwed indeed.

Instead of throwing away money trying to teach something so fantastically complicated, you should recruit talent with the necessary skills already under their belt. Advertise on bitcointalk.org, that's about the only place I know where these guys hang out.

138
General Discussion / Re: btsbots reborn
« on: January 02, 2016, 03:52:44 pm »
this is a market makeing bot, make bid/ask order at the current price with a spread.
nobody can make sure this is profitability.
if you need a marke maker to provide liquility, you can try this bot.

And yet you propose to take a percentage fee from every trade? That assumes that every trade is profitable, otherwise this is an overall loss for the user.

139
I have given some thought to the matter of Graphene tutorial and here are my conclusions:

(1) Our situation is quite similar to Android - we don't need to teach people a new programming language, we only need to teach them how to use a known language in a very specific environment.

Sorry, this is nonsense. You propose to teach an uninitiated c++ developer something which takes years to master. This is not possible within the budget.

140
General Discussion / Re: btsbots reborn
« on: January 02, 2016, 11:15:16 am »
@alt how can you expect anyone to sign up for this when you don't provide even the slightest information about the profitability of this bot?

Losses from market making can be quadratic when profits are only linear, meaning losses can far, far outweigh profits.

141
Hiring some latvian coder from freelancer.com, or some such other generic source will be a waste of time; they will simply not have the expertise to do the job properly even if they do know c++ inside out. Simply put, blockchain programming is an extremely specialised niche within a niche and you must expect to pay a premium to get someone who knows what they are doing.

Moving forward, I suggest you fund CNX to produce a series of competency tests which test candidate programmers for their knowledge of low level, blockchain oriented systems, design methodologies and general c++. CNX would need to be in charge of the hiring process, because they know their systems inside out.

142
General Discussion / Re: We need some base money in the exchange.
« on: January 01, 2016, 08:27:48 pm »
@monsterer didn't you have a thread where you discussed this with @tonyk ?

I thought about it for a bit, but came to the conclusion that a pure blockchain market maker would probably get exploited and end up diluting BTS... unless it was written by a proper algo trading expert and these guys are very expensive, and their technology (the MMers) are worth hundreds of thousands of dollars.

143
General Discussion / Re: btsbots reborn
« on: January 01, 2016, 11:37:28 am »
Maximum drawdown percentage?

Ratio of winning trades to losing trades?

Average winning trade size vs average losing trade size?

General profitability / performance graphs / back / forward testing results?

What algorithm is this?

144
General Discussion / Re: Whats going on with Coinmarketcap ?
« on: December 31, 2015, 05:31:46 pm »
Any updates on refunding BTS  @monsterer ?

Hi cass, sorry for the delay - @Shentist is handling the refunds, it should be with you shortly :)

145
General Discussion / Re: Whats going on with Coinmarketcap ?
« on: December 24, 2015, 01:19:06 pm »
Looks like someone figured out to manipulate the CMC price which is where metaexchange gets our feeds from. :(

The likely candidate is the BTS/EUR market on CCDEK which is showing a huge price, and probably skewed the weighted average they use.

This has cost us a lot of BTC. If the manipulator is reading this, please consider returning the funds to us, we will issue a full BTS refund and you will be doing the community and METAFEES holders a favour.

146
Except that if everyone did this BTS would fall more than 1% and thus no one would do it. Hence, it is not profitable for people to proxy.

You've never heard of shorting?

IMO encouraging people to vote is not the answer; they will not vote en masse, which is what DPOS needed to survive. Moving forward I suggest we adopt some parts of NXT:

1. Auto elect N (staking) delegates ranked by effective stake
2. Allow individuals to lease their staking power to whomever they chose
3. Keep the same deterministic block production order

All you need is the ability to make "voting power" expensive.
In Bitcoin, you need to buy expensive equipment

That's a common error people make when comparing POS to POW. They are not equivalent in that way, because in order to vote in bitcoin you need to produce a block, and that is very, very expensive ongoing cost. In POS, once you have your stake, voting costs nothing.

147
Precisely.  That particular gambit is fixed by the ability to fork out the bad guys and continue on.

Again, you are either missing or misrepresenting the seriousness of this issue. A hard fork to fix something like this would likely destroy the value of the currency completely; it is not the same as a hard fork which adds a feature, and may well need to rollback a whole load of transactions as well, which may have knock on effects on regular users or exchanges, depending on how insidiously the attacker behaved.

At any rate, bitshares should be stronger than 13% attack resistent, don't you think?

148
And if it did that, then all the inactive voters would come out with torches and pitchforks to fix it.

Until things start going in a direction they don't like, many of us are content to let it ride.

A decision not to vote is a vote for the status quo.  That is not the same as being centralized.

I'm afraid it is much more serious than you think.

This one account could vote in all its own delegates which then sit there refusing to process transactions. Votes are transactions, so you would never be able to vote them out.

This would bring the entire chain to a standstill forever until the dev team introduce a hard fork to rewind the chain.

149
I agree that this is not widely understood, but that is not a knock on DPOS, just on our ability to overcome false narratives that occur when even our long term members get careless about what they say.

I am stating a hard truth here in the hopes that it will get the powers that be to think about the problem more clearly.

I'll say it again:

At this very moment, 1 single bitshares account could vote out all the delegates and install its own for whatever purposes they liked. That means 1 account controls the entire network, which is far, far more centralised than bitcoin, nxt or any other cryptocurrency except maybe ripple.

150
DPOS was a nice experiment, but the requirement for active voting was a big oversight. Much simpler to just plain remove it all and go with a much simpler system, which simply ranks by stake.
and suddenly you loose all the nice advantages of dpos, namely, the fact that only those that WANT to produce blocks may produce blocks.
With your approach we are back at square NXT and can't achieve 3secs blocks .. period

I don't think you've understood what I wrote at all. Namely:

1. Only those who chose to stake would be ranked
2. Keep the deterministic block production order

Basically, all you lose is the bad part, which is the elected delegates. Keep stake voting for proposals, of course.

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