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Messages - bitcrab

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1411
General Discussion / Re: how about to raise block reward?
« on: February 01, 2017, 03:29:22 am »
Quote from: pc on January 31, 2017, 05:43:49 pm
IMO it is pointless to expect witnesses to produce a "better" or "more accurate" or "more stable" pricefeed as long as there is no agreement about what that means.

The reality is that the prices differ on the exchanges, and not even in a consistent way (e.g. the price BTS -> CNY may be different from BTS -> USD -> CNY or BTS -> BTC -> CNY).

I now tend to use "reliable feed" instead of other words.
prices may differ between different exchanges, but they are not separated.

the settlement price should be high enough that when a shorter is force settled, he can buy back the collateral from from DEX or outside exchanges with price (settlement price + compensation) without big difficulties.

the settlement price should be low enough that the collateral ratio do not over evaluate the market value of the collateral.

I believe a trader can easily understand what I said.

it may be not easy to tell which is best from several acceptable price feed.
but it is easy to select unacceptable price feed and remove.

if all the price feed is acceptable, then the final settlement price should be good enough, that is what we need.

1412
General Discussion / Re: how about to raise block reward?
« on: January 31, 2017, 03:02:29 pm »
BSIP draft submitted: https://github.com/bitshares/bsips/issues/22

1413
General Discussion / Re: how about to raise block reward?
« on: January 31, 2017, 04:26:32 am »
Quote from: xeroc on January 29, 2017, 07:20:53 pm
Before I approve a higher pay for witnesses I demand some actions and willingness by the current witnesses to actually do more.

I dont want to pay witnesses more upfront .. neither do we pay workers upfront ..

worker and witness are running in different mode.
for worker, the mode is propose->voters evaluate and confirm->complete job->pay
but for witness, the mode is: set a salary level and pay at block generation, while at the same time voters decide who can work by voting.

so essentially it is not the witnesses to ask for higher payment, it is the community that asking for upgraded service with paying more. it is a little similar to the bounty. but the pay should be there first then more able candidates will come for competence. and then the voters can have enough candidates to evaluate and select.

as proxy I will evaluate the witnesses and adjust voting with standards:
1.stable block generation.
2.at least feed bitCNY or bitUSD or both.
3.the price feeding should be accuate enough with no obvious drawback.

for point 1 I am not able to do enough check, hope developers can provide something for reference.

below active witnesses do not satisfy point 2:
roadscape, cyrano, btsnow, spectral, delegate-1.lafona, dele-puppy

below active witnesses do not satisfy point 3 in a just now "yunbi test":
delegate.ihashfury, delegate-clayop.

I have checked my voting and remove the above mentioned witnesses if I had voted previously.
I hope these witnesses can upgrade their service before the witness pay be really increased.


1414
General Discussion / Re: how about to raise block reward?
« on: January 29, 2017, 03:16:33 pm »
Quote from: Geneko on January 29, 2017, 10:05:14 am
Is there any numerical analyzes regarding financial effects of such change. It will certainly increase dilution rate. Buy what figure.
Is it going to be increased for certain amount of time or until curtain market evaluation reach.
 
If I may say so, there is no actual market set for witnesses. They all should compete for witness role. From recognizable names thru quality of produced blocks and price feeds, etc.. Standards of accomplishment should be rise so as the reword. Could it all be built in some kind of smart contract. Since they are payed in BTS their steady income flow depend of BTS market valuation. Probably best solution would be that
witnesses are paid in bitUSD or any other bitasset.
 
Those decisions should be carefully evaluated. I don't see any careful evaluation.

when I wrote, the BTS supply is 2580740816(reserve pool not included), so 4BTS means 1.6% annual dilution rate.
today's total avaliable budget: 305566 BTS. in which 68961(22.6%) are paide to 3 real worker and the left is for one refund worker.
4BTS means 115200 BTS daily payment to witness.

the current competition is based on voting, it is not perfect, a smart contract sounds wonderful, but it's not easy to implement. for example, one critiria of how well the witness work is the accuracy of the price feeding, how to evaluate the accuracy of price feeding by smart contract? increasing witness payment is incentive to better witness work including more accuracy price feeding, and higher witness payment will make the proxy more strict on voting from more candidates.

for payment in BitUSD, there are already many discussion on pay BitUSD for worker proposal, but one problem is how to supply enough bitUSD. no satisfactory solution up to now. and as active witnesses is a dynamic group, the number and members of the group may change now and then, it is not a big problem to just pay in BTS.

we have done some discussion and evaluation, it is not accurate but senseful, and the conclusion is:
1. to encourage the witnesses to pay senseful more cost and effort on witness work, we need at least double the witness pay.
2. the dilution that a 4BTS witness pay bring is acceptable.
 
this may be not a perfect solution, but it is feasible, senseful and can be implemented in not long time.

1415
General Discussion / Re: how about to raise block reward?
« on: January 29, 2017, 03:11:39 am »
Quote from: fav on January 28, 2017, 04:20:28 pm
Quote from: bitcrab on January 28, 2017, 03:18:40 pm
the poll ended, finally totally 20 for increasing to 3/5/8 BTS, 9 object and 2 for other choices.
now I tend to push 4 BTS as a compromise. hope that can be accepted by all the parties.

could you increase the network fees too?

I mean, chinese exchanges introduced trading fees, so chinese community should have no problem with adjusted fees, right?

however I haven't saw the necessity to increase trading fees.

1416
General Discussion / Re: how about to raise block reward?
« on: January 28, 2017, 03:18:40 pm »
the poll ended, finally totally 20 for increasing to 3/5/8 BTS, 9 object and 2 for other choices.
now I tend to push 4 BTS as a compromise. hope that can be accepted by all the parties.

1417
General Discussion / Re: plan for sidechain?
« on: January 23, 2017, 04:53:01 am »
Quote from: abit on January 22, 2017, 08:12:39 pm
Anyone has interest can check Steemit's 2017 roadmap: https://steem.io/2017roadmap.pdf
The section "Steem Blockchain Feature: Multi-Chain Parallelism" is related to sidechains.

seems the fabric architecture is to solve the problem of  scalability, performance, fault isolation, and modularity, however what Bitshares now need is to interoperate with bitcoin and ethereum blockchain.

1418
Stakeholder Proposals / Proxy: bitcrab - make the ecosystem grow
« on: January 22, 2017, 06:25:19 am »
bitcrab, member of Bitshares Committee, owner of witness "jerryliu" and founder of gateway transwiser.

as proxy, bitcrab will vote following below principles:

about Committee:

vote for the candidates that actively contribute to community, has a deep understanding to the Bitshares ecosystem, able to discuss and propose constructively, and widly accepted by the community.

about witness:

vote for the witenesses that provide stable and secure block generation service and qualified price feeding service (at least provide BitCNY and BitUSD price feeding). try to adjust the witness payment to a reasonable level to encourage contribution.

about worker proposal:

vote for some refund proposal to set a high enough threshold for worker proposal, vote to the worker proposals that really make sense and with reasonable budget。try to make the development organization more reasonable and effective.

let's make Bitshares great again! thanks for voting for proxy bitcrab!

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bitcrab,巨蟹,比特股理事会成员，见证人jerryliu运行者，网关transwiser创建者。

作为投票代理，bitcrab秉持以下理念进行投票：

关于理事会：
尽量参加每周Mumble会议，积极促进中国社区与国际社区的沟通和理解，共同促进比特股生态繁荣。投票给那些积极参与社区建设，对生态建设有较深入的理解，社区较为认同的候选理事。

关于见证人：
投票给提供稳定安全服务，并且能够提供足够准确喂价服务（目前要求至少提供BitCNY和BitUSD的喂价）的见证人，促成见证人获取合理报酬。

关于预算项目：
通过投票给一定的refund项目为预算项目设置足够高门槛，投票给那些有价值且预算合理的项目。尽力通过更多的沟通和组织使开发工作更加顺畅合理高效。

感谢你的投票！让我们共同促进比特股生态的繁荣！

1419
General Discussion / Re: plan for sidechain?
« on: January 22, 2017, 03:01:52 am »
Quote from: tbone on January 21, 2017, 03:04:11 am
Quote from: bitcrab on January 20, 2017, 03:17:05 pm
@bytemaster has stated a possible solution, in which top 15 witnesses do MULTI-SIG to relevant bitcoin transactions, however "In theory the witnesses could collude to steal all deposited BTC funds."

in my words the "risk" refer to this, I don't know whether there are ways to avoid this kind of risk.

The best way to substantially mitigate this risk is probably to have known entities as witnesses.  For starters, below is a list of 10 entities that might participate.  And there may be other entities that I'm not thinking of, especially in China.  @bitcrab?

The remaining slots could be filled by known entities outside the graphene ecosystem and/or a few of the most prominent, publicly-known witnesses within the ecosystem.   

Anyway, I wonder if Dan has secretly been working on a solution behind the scenes.  It wouldn't surprise me.  Anything announced along these lines would be a pretty big development.

1. Steemit Inc.
2. OpenLedger
3. BlockPay
4. Transwiser
5. Blocktrades
6. Peerplays
7. BitKapital
8. BitGate
9. Chainsquad
10. Busy.org
in China there are DACPLAY,  and a planned project YOYOW(you own your words) which is also based on graphene.

1420
Technical Support / Re: Where are the collateral positions on the wallet gone?
« on: January 21, 2017, 03:44:21 pm »
both cryptofresh and GUI show your account have 203690 BTS as collateral, what's the matter?

1421
Technical Support / Re: Where are the collateral positions on the wallet gone?
« on: January 21, 2017, 01:17:02 pm »
should be force settlement, check your trade history.

1422
General Discussion / Re: WITNESS ACTION REQUIRED - 1 Million BTS Lockup to be a Witness
« on: January 20, 2017, 03:31:16 pm »
not bad, no problem to me.

1423
General Discussion / Re: plan for sidechain?
« on: January 20, 2017, 03:17:05 pm »
@bytemaster has stated a possible solution, in which top 15 witnesses do MULTI-SIG to relevant bitcoin transactions, however "In theory the witnesses could collude to steal all deposited BTC funds."

in my words the "risk" refer to this, I don't know whether there are ways to avoid this kind of risk.

1424
General Discussion / plan for sidechain?
« on: January 20, 2017, 03:51:37 am »
there has been many discussion about BTS being one sidechain of bitcoin in the past, like https://bitsharestalk.org/index.php/topic,21263.0.html,  seems the solution is possible with risk.

recently, it is said steem and peerplay is on the progress of sidechain development, I even saw a pic as below:

but sounds BTS are not included in the development plan? do not know the details.

and Ronny has said OpenLedger will introduce sidechain in 1-2 years.

some teams around the world like cosmos, antshares are developing something called  blockchain interoperability protocol.

BTS definitely need sidechain or other blockchain interoperability solutions to connect to bitcoin and ethereum, but how to plan and organize the development?

1425
General Discussion / Re: DAC or DAO? do we really need dividend?
« on: January 18, 2017, 01:22:54 pm »
no need to make transfers free, the current fee is low enough to ignore.
we have paid big efforts to reduce the high transfer fees to ignorable level, do not propose things like 0.1% trade fee to go back.

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