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Messages - pgbit

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Technical Support / Re: !!! Stupid Questions Thread !!!
« on: October 23, 2014, 06:48:45 am »
Vesting period for bitassets....
Will bitGld, bitBTC tied to current btsx accounts be locked in with any vesting period too, in the transfer to bts?

BM claims that vesting was known from the very first proposal, but details are murky and changing on a daily basis. (originally was 6 months)

Let's say someone has PTS that equals 100 BTS post merger (when fully vested). My understanding is that vesting is gradual over the next 2 years.

Let's say 6 months pass from first day of merger. So that's 25% vested. Does that mean that if that someone sells their vested stake they will only get 25 BTS, and the other 75 BTS will be lost (basically burned), or does it mean that they can only sell 25 BTS, but once the 2 year period is over, they will still be able to sell the other 75 PTS?

I really hope it is the latter, because it just doesn't make sense to do the first.
Looking forward to learning about how the vesting process will work in reality. The latter approach seems fairer.

General Discussion / Re: Good time to buy BitUSD? BitGLD or BitCNY?
« on: October 19, 2014, 07:55:40 pm »
Price seems to be collapsing. It seems the only way to store your wealth is to buy BitUSD, BitGLD or BitCNY.

Which one is best to buy to save your wealth from the collapsing BTSX price?
BitGLD peg is starting to shape up.

And market cap + volume of bitUSD is up a bit, people using it to hedge within the system :)

Beautiful is in it ? :)

So we have proof again the system is working as it supposed to even when big price fluctuation are happening.
As I've found out, the BitGLD is coming together too quite nicely. We need more ppl to add BitSLV price feeds I think.

General Discussion / Re: Trading BitGld to diversify risk
« on: October 19, 2014, 07:25:50 pm »
55k is the price in for 1 bitGLD in BTSX!!
1 bitGLD is in OUNCES .. not kilos
ohhh! my chart fail. I realised this just now and was hoping to update my post!
- thank you also Shentist

General Discussion / Re: Proposal to Resolve a Million Issues at Once
« on: October 19, 2014, 04:13:27 pm »
1. Reducing the Complexity of the BitShares Ecosystem

Collapse AGS and PTS into Genesis, and Genesis into BitShares X.
Collapse BitShares X, Y, Z, .. into BitShares X, and simply call it "BitShares."

2. Funding the BitShares Ecosystem

Vote in BitShares for the issuance of new shares going to elected Delegates.
New DACs can be birthed with ICOs, giving samples to Genesis / BTS holders.

3. Marketing the BitShares Ecosystem

Elected Delegates can propose marketing and raise funds for their projects.
Embedded referral program giving new users 10% back on buying bitUSD
Issue new shares to subsidize YIELD for various bitAssets in the first x months.


What DACs specifically will, or could be, collapsed into BitShares?
--Would there be different wallets, and if not would it not clutter?
--Wouldn't it be difficult to scale, and if so what is the long term plan?

I like this summary.

General Discussion / Re: Trading BitGld to diversify risk
« on: October 19, 2014, 04:09:44 pm »
Really useful info, thanks. The feed price seems higher than independent sites, for some reason.

You can see from the scripts how data is fetched and calculated (it checks
Which sites do you refer?
Does their price differ from

The price feed now on BitGLD : BTSX is just above 55k.

These links show a different price:  $39,802.62 $39,811

- this one seems good, it has 8 hour and 24 hour prices. $39,809

or which works in ounces
1.00 XAU    =    1,238.50 USD
(35.274 ounces in a kilogram)
= about $43,686

I couldn't fine the yahoo finance gold price... just seems to list stocks.
Anyone know what accounts for the difference?

General Discussion / Re: Trading BitGld to diversify risk
« on: October 19, 2014, 03:37:16 pm »
Some delegates use the following scripts to fetch prices:
(original by alt)
(xeroc's modification)
(my modification over xeroc)
There could be other unpublished scripts.

All delegate's price feeds are visible at
Really useful info, thanks. The feed price seems higher than independent sites, for some reason.

General Discussion / Trading BitGld to diversify risk
« on: October 19, 2014, 01:27:33 pm »

Gold apparently correlates well with Crude oil price...
Seems like a good option to invest in for diversification so Bitshares having BitGld is great. I think we need to support it and built it up a bit. Its easy to test with small bids, accessed from the wallet in the Market tab.

Currently the gold price listed elsewhere is around 38.5k

and this is a little different from the current price feed - around 54k
- is it in the nature of the peg to be set naturally higher than the "real price"

Just getting to grips with it, so I have a few questions:

(1) Can we see which delegates are maintaining the gold price feed, and if they are setting prices accurately? Knowing the Price Feed sources, and making this public would be helpful.

(2) With any forthcoming adjustment to BitsharesX -> Bitshares and any other proposed changes, will BitAssets remain connected and "valid", or for some bitassets is this some form of testnet?

(3) Units. These are USD per kg - I assume - can this be added to the chart?

General Discussion / Re: Proposal to Resolve a Million Issues at Once
« on: October 19, 2014, 12:59:04 pm »
My Proposal:
4) Add stake holder approved dilution without limit to BitShares X.

"Without limit"? - seems like this would lead to devaluation down the line. Did you mean a 20% dilution only to accommodate AGS and PTS?

General Discussion / Re: short / medium term price speculation for BTSX
« on: October 18, 2014, 05:45:43 pm »
BTSX market cap is now as it was 1 year ago and bitcoin is half it's market cap than 1 year ago..There is no way Litecoin is on the 2nd place for long.It just doesn't make be cool...By next year these prices will be a looonggg history... Unless ofcourse bitcoin and the whole cryptocurrency ecosystem is crashed by Governments and soft hands dumping all over the place their cryptoassets (I seriously doubt about this..)
Interesting article on coindesk in relation to regulations:
The exact definition of mining may carry some importance. POS is a form of mining...

Technical Support / Re: Not connected
« on: October 16, 2014, 05:44:59 pm »
My bitshares X client isn't connecting, but KeyID is. Adding nodes, no action yet. I did just log into to Bitshares X and KeyID - both open. Any possible conflict?

KeyID / Re: Getting started with KeyID / importing wallets
« on: October 16, 2014, 05:35:39 pm »
An error can occur on attempting to dumpprivkey, which does not explain that you need to first unlock your wallet. To unlock your PTS wallet for a bit, you can use this command in the console / debug window:

walletpassphrase <your_password> 9999999 true

Then you can try dumpprivkey.

Technical Support / Re: !!! Stupid Questions Thread !!!
« on: October 14, 2014, 06:04:06 pm »
A black warning triangle has appeared. "This account is not voting with some of its stake, Consider updating your vote."
I have checked those I wanted to vote for, ? how to correct ? is this important

General Discussion / Re: US commodities futures trading commission
« on: October 09, 2014, 09:02:23 pm »
The end of what was said:

>>: Just one more point on that.
The question to regulate or not, usually with regard to underlined activity.
To regulate Bitcoin is like regulating the Internet.
It is what you do on the Internet or how you use that, money transfer, by an asset, e-commerce or otherwise.
You don't just regulate the Internet, no one does and the Internet is a protocol. Most people don't know that. But it is TCP/IP, Internet protocol. Nobody in the room really cares about analyzing what the protocol is or who wrote it or otherwise, but it has long existed, originally developed with government research money, and it is used reliably for very long time.
Bitcoin is another protocol.
What would you regulate? The activity using the protocol called Bitcoin and if it is for money transfer, then okay. If it is for swaps, that is the regulation that the FCC uses as an index. If it has a Bitcoin asset beneath it.
You cannot say regulate Bitcoin so much as you can say regulate activity that touches, utilizes, or otherwise, involves the use of that protocol.
>>: From the perspective of this regulator, to what extent would markets and swaps for Bitcoin be susceptible to me relation?
>>: So with regard to what we have established in the filing that we presented to the CF CT, we built a a swap. And the swap relies on an index, a series of underlined markets.
The underlined markets could potentially be susceptible to manipulation and what we had to establish with the staff and ultimately our self certification is that the numbers we are pulling from these various exchanges will ultimately be curated, filtered, take out anonymous behavior to prevent somebody from essentially attempting to manipulate, either meeting the requirement that is not susceptible for many relation and two levels.
First is our market susceptible? Every participation is marketed and we have our own surveillance and we also have the surveillance of the NSA to back us up with regard to market participants.
He also surveilled the underlined market that feed into the index and as I mentioned before we had information sharing agreements with each market so the location we pull data from provides us access to individual traders if necessary, positions they may hold to determine whether there is going to be manipulation.
As a matter of fact,, the changes, the exchanges we use are proud of the fact they are following KYC and what robust market places to address the very question you are asking, which is is there many relation happening? They want a sound marketplace and they are achieving it in their marketplaces and we can take the data and build the swaps off of that.
>>: So you have these information sharing agreements between the TeraExchange, the cash markets, and the SEF's? Correct.
>>: Okay. But what other functions, surveillance functions do you use? You're getting a right of access of some sort, but otherwise, how are you surveilling these individual cash markets around the globe?
>>: We use surveillance by pulling the feed and watching surveillance on the feed, watch the price action and when we find the behavior, it is filtered in the index automatically props up on call for us to make an inquiry.
During the analysis for between March and when we ultimately filed, there was activity on what in the exchanges.
For example, it essentially look like someone could essentially be doing something. It triggered flags on our system to advise us to look out, look at this behavior which we did.
We made the phone call, spoke to the technology personnel and also spoke to the underlying controllers of the account. They said no. We know these players. There is nobody moving the market. There is no lost to trade.
We have that information at our disposal, so we can constantly monitor it.
>>: Anything else?
>>: I think that is going to bring the meeting to a close. We have gone over time.
Thank you again very, very much. Just one last point I would like to make on Bitcoin.
Obviously, there is relevancy here in taking up this topic today in light of TeraExchange filing.
As I mentioned before we expect that we are going to receive other filings from other platforms as well in the very, very near future.
I was interested to hear in some, some of the remarks by the professor about these applications that could be made at this technology in a way that is actually useful to our space, the derivatives space.
And it just seems like based on what I have learned, some of those applications could be so compelling that it would be a real mistake for us as a commission to not make sure we are staying on top of these development's.
Not, because we want to do anything other than understand the developments because it seems like this protocol, the Bitcoin protocol or something like it is very, very likely here to stay.
So the more information and education we can do on this now in trying to stay somewhere on the appropriate spot of the learning curve, it seems to be a very sensible thing to do.
So I think that it has been very, very helpful and thank you for representing the CFCT staff and I will turn it back over now.
>>: I think we are good. I want to thank everybody for coming. I want to give a special thanks to the staff and her team that does all the work going on behind the scenes.
I appreciate everyone coming today. And as the temporary chair, I now adjourn the meeting.
Thank you for your participation in today's conference. You may now disconnect.
5:00 PM (EST)

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