Yea I would prefer that people would be able to "short" to hell but would pay thru the teeth via fees which would give the longs a nice breath of fresh air when they review their balance sometime in the future.

Nah I dont think so... dark pools are a way to hide ice berg orders and intentions of large firms with bots doing arbs etc away from retail traders which are usually at the wrong end of the stick. It wouldnt really apply to the problem of annonymity in the crypto space. There would have to be a contrast for it to work as a darkpool like if a bitAsset was only applicable to banks and hedge funds with networth of more than say $100m bitUSD and they could trade bitUSD to btsx and other assets in high volume without showcasing their orders to the rest of the network (which would affect the other networks) because the darkpool orders get processed thru to the interbank the same way as "lightpool" orders... I think there would need to be an imaginary connection between a public retail bitUSD trading pool and a private dark pool for these individuals.. so they may place their large limit orders without others front running for spread profit.

Agreed decentralized version beats centralized version.  And I am very skeptical, I wouldn't touch for a long time to come but I really do hope it works, then nxt can take the idea, tweak it and make it our own

As I understand though, when shorting, you take twice the amount that you are paying for the asset and put up some collateral, right?

So what happens if it the price falls to the point where you don't have the assets to cover the loss?  Is is automatically revoked?

Let's say that the price of BTSX halves, does that mean that all those BitUSD suddenly disappear?  I'm probably misunderstanding how shorting works.

I'm just learning it just like you but from my understanding the collateral doesn't need to be 2x its just 200% to use as a buffer for fees etc where as 100% would be a perfect cover order... in reality anywhere from 115-125% should do the trick in the future when it becomes more liquid...

As a trader, when you go long bitUSD you are basically hedging against a speculation that btsx will not rise, in that you will be able to transfer bitUSD back to btsx but recover a bigger stake in btsx later on once it is lower, purchasing power rises with USD. The short bitUSD is hoping for a rise in btsx such that the value of USD will fall versus btsx, purchasing power rises with BTSX, and the person who goes short bitUSD will be able to close the position and recover more btsx than he/she started with. Essentially it becomes an ecosystem where you don't need to sell your btsx back to btc but you simply hedge/unhedge your position if you are a speculator and you can "sell" for bitUSD if you need to pay a vendor or whatenot in USD once the bitUSD -> USD bridge is set up. I don't see any margin on the trades so I don't think you are force to cover because of a situation with price, until price doubles/halves. Your collateral should be used to offset gains/losses as the order is closed out. I'm not sure what happens when your collateral is not enough to cover the contract (margin call)... I think it auto closes your contract and you have to reenter the market?

The "ecosystem" needs players to accept the "long" and "short" contracts for bitUSD -> btsx and btsx -> bitUSD so that as swings happen people can get in and get out without major spread issues. Once the bugs are ironed out of the wallet code/toolkit API then we should see it in action and I hope we can get bitUSD<->USD happening fairly easily as that will the bring the ability to enter into a DAC without going thru the hoops of acquiring bitcoins. Ofcourse out of 1000 people only a small % of people get into bitcoin because of the amount of work it involves to be able to buy it.. although its becoming easier with ATM's and localbitcoin etc however a conversion from USD to bitUSD once we have enough volume would pretty much trump any of those options as a viable way to get into the crypto game and directly into our "ecosystem"

As far as comparing a central system with a decentralized system i think the later wins almost every time (except as a system starts out and there isn't enough volume, where a market maker would have been able to cover orders in a central system).. however the potential for a decentralized system is far higher than a central system because that is where we are headed with blockchain technology and what it was designed for. The other competitor "counterparty" and all of its derivatives (viacoin) tries to add services onto the blockchain which Satoshi openly came out and said that its a bad idea... not going to go into that one.

Speaking of which, where is the protocol spec on btsx? drltc still going ahead with it?

Quote from: jsidhu on September 02, 2014, 09:54:26 pm

Quote from: eagleeye on September 02, 2014, 09:46:26 pm

Quote from: jsidhu on September 02, 2014, 09:43:49 pm

Quote from: eagleeye on September 02, 2014, 09:37:08 pm

Quote from: jsidhu on September 02, 2014, 09:34:36 pm

None of those sites are online.. do you expect us to remember what they were? One works but it is just a wordpress theme with a few simple pages in the blog.

LOL!

Go to www.archive.org  and look them up.  You will see the development of the User Interface from project to project.

When a project dies.  Rarely do you keep it active.  Some projects live forever, some do not.  The ones that are active I am not telling you, as I do not want you to know me.

They seem pretty simple to me, I'd love to see the work of a 15 yr professional rather than when you had 3-5 years experience and doing simple form submits or html page links.

Those sites were 2001/2002/2003/2004, lets see what you developed back then.  Furthermore, look at Google, in simplicity.  What im say is those sites were shit, but lets see what you developed back then.

So is it really useful to see those sites? You must be saying that you kept up with web technologies as you became more experience, hence it would be cool to see something new. Personally I focused more on backend apps c/c++ with some mysql/php/js interfaces for backend use and software for companies that you would never see outside its industry. However if you PM me I can show you what I am working on now and we can compare as I have similar levels of experience.

Its only useful in terms that I have developed and went through the trial and error aspect and now have a large accumulated experience.

Im not looking for a job so you win Sir jsidhu.  Furthermore with the job that they are looking for, a developer as you are thinking is a c/c++ engineer which is what is needed, so you win double down.

However, you must realize time is of the essence and you may be in India (I hope your in the US because that is what they are looking for (im not in the US)).  So if you can relocate and take there tests then that is what matters.

I hope they have programming tests they give to there developers.

Also I dont even know why they need more developers, what there total funding, yearly budget (burn rate should be less than 10% please guys I hope you are not burning through funds.  I understand if they do not want it on the forum and I hope they dont.

Non sense did you even try to read the description of what they wanted?

Not all east indians are residing in India LoL!!!

Quote from: jsidhu on September 02, 2014, 09:34:36 pm

None of those sites are online.. do you expect us to remember what they were? One works but it is just a wordpress theme with a few simple pages in the blog.

LOL!

Go to www.archive.org  and look them up.  You will see the development of the User Interface from project to project.

When a project dies.  Rarely do you keep it active.  Some projects live forever, some do not.  The ones that are active I am not telling you, as I do not want you to know me.

They seem pretty simple to me, I'd love to see the work of a 15 yr professional rather than when you had 3-5 years experience and doing simple form submits or html page links.

 I guess that's up to the team, if they are interested I think you will get a pm

I have a perfect solution to this pegging problem, only need one little change to the current system, no price feeds, no 90% stuff, if you post a 10 M BTSX bounty, I'll post it.

Post your academic background and qualifications and maybe someone will take you up on that offer. But I doubt anyone will take you seriously.

Usually this kind of thing means we structure some sort of incentive to be long bitusd and punish short bitusd.. however this may adversely affect the market in a few ways mainly speculative attacks/hacks and might actually dry up shorts altogether and will undermine confidence in the system.

Main thing is if you're coming up with a solution then what is the incentive to hold long and not hold short? Some are throwing the up idea of interest rates.. some are saying other things, each have their pro's and con's if we weigh each idea with pro's and con's we can find which ones are a better fit in as objective manor as possible.

Quote from: toast on September 01, 2014, 04:37:55 pm

no mercy.

We all know how that ended up.