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General Discussion / Re: Creation of a BTER DAC and crowd funded recapitalization
« on: February 16, 2015, 10:12:39 pm »official BitShares representative.
? Could you pls elaborate this more
Official?
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official BitShares representative.
? Could you pls elaborate this more
If a customer pays in BTC and then gets a refund after their money was held in escrow as BitUSD, they could get less BTC back than they expect. How would this problem be resolved?
Wouldn't it be so much easier if our dreams came true and everyone just used BitAssets?
I can't believe how many people there are supporting rollbacks (even if it's targeted rollbacks to a small set of transactions) in this thread. It completely undermines the blockchain.
No one could trust that their transfers for goods/services would be final.
If we were to have such a policy, how would we decide which balances were the stolen ones? How would an innocent person accepting funds from those balances for legitimate trade of goods/services know that those balances were tainted before accepting them? Or do we just accept that those people (who didn't take an extra risk by trading on a centralized exchange) are going to lose for the benefit of bailing out the unfortunate victims who knowingly took the risk to trade on a centralized exchange?
Also, who is the authority that decides/confirms which balances were stolen, the stakeholders? If so, what quorum is necessary? Even if it is 75%, you risk having the other 25% dump the stake after the hard fork because of such an extreme change in policy, crashing the price. So then maybe a 95% quorum is necessary. But that is a ridiculously high percentage that is unrealistic to ever reach. Especially considering that the people most likely to vote for the hard fork are the people who lost their money (and therefore don't have the funds to vote with).
No rollbacks! The solution is to reduce our dependence on centralized exchanges.
Working on a research project on sidechains - what are people's thoughts on the future of bitshares in the event that sidechains are implemented into the bitcoin protocol? Will bitshares adapt as a sidechain? Will it exist independently? What would it look like if bitshares did decide to adapt into a sidechain?
This could be a bummer:
Mycelium's Bitcoin Wallet Suspended from Google Play Store:
http://www.coindesk.com/myceliums-bitcoin-wallet-suspended-google-play-store/
http://www.reddit.com/r/Bitcoin/comments/2vro8y/mycelium_and_google_play_recap_of_what_happened/
So note to ElMato and other mobile wallet makers: don't put a donation button in your app.
I assume PeerTracks is going to use a custom moonstone wallet to handle all of the users funds. This is slightly off topic but have you made any progress on how users will go from their Credit Card to BitAssets (NoteAssets?) on the PeerTracks system? Is the music team / bitsapphire working on any on ramps or relying on those to be built?
PeerTracks using a custom version of our wallet is the plan, yes.
Unfortunately I can't disclose anything about PeerTracks (NDAs), however Cob should be able to do a forum or mumble session very soon. March is when everything will be unveiled.
I think you should add Stans "Origins of BitShares" post to the blog.
The community, ie. your network effect, is being completely ignored.
What a way to loose your good will which you paid 50% of the share supply for! I am sure you did not pay 50% share supply for a mailing list. Because now thats all you will have.
The community was also responsible for the toolkit used to bootstrap bitsharesMusic. You paid 20% of your share supply for the use of the toolkit.
Don't worry Mr Jeans, I can't say much, but I will say that competition to MUSIC is not too far off and it seems it is based in a different philosophy with respect to a number of things, but community involvement is one of them.
I support Cob's efforts. He is doing what he thinks is best. However, I too am philosophically inclined to support more grass roots initiatives that reach out to our community. BitShares is going to be one heck of an awesome place to be a foundational member in the next couple years...