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Messages - bitmarley

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16
General Discussion / Privacy Idea: Add a setting for 'Privacy proxy'
« on: June 04, 2015, 12:01:55 am »
Add a setting for Privacy proxy so all identifying transactions like spending, shorting, ordering, voting go via the proxy.

But standard node behaviour uses the standard tunnel so the slow proxy speed doesn't mess up the blockchain synching etc.

17
General Discussion / Re: Privacy and Addresses
« on: May 27, 2015, 09:06:44 pm »
Just thought I'd update since I've also learned that voting means you lose all your privacy because the signature of your voting will give away the connection between even your unregistered accounts.

Perhaps voting slates could help keep privacy. Or perhaps there is a way in the future to vote without compromising privacy.

18
General Discussion / Re: New kind of order: Limit At Feed
« on: May 27, 2015, 07:30:53 pm »
In the latest Beyond Bitcoin Hangout bytemaster is talking about the problem of large trades of an asset that is meant to be stable such as bitUSD or bitGOLD. The problem is that it is very difficult if you need to do a large order to avoid pushing the price temporarily away from the feed. And thus the concept of a "stable" price is actually not so true for large trades. But these kind of 'limit at feed' orders solve half of the problem since the price is stabilized to the feed. So the only variable is the time it takes to process a large order.

19
General Discussion / New kind of order: Limit At Feed
« on: May 27, 2015, 06:44:34 pm »
There may be times when someone wants to buy an asset in a certain amount but they want the trade to happen only at the Price Feed. So perhaps we could add a new kind of order that would BUY/SELL with limit at the feed price.

20
General Discussion / Re: Counter Party Risk
« on: May 08, 2015, 05:06:55 pm »
Thanks. How do we know a node won't cheat on the market engine if its not checked by the delegates?

21
General Discussion / Counter Party Risk
« on: May 08, 2015, 04:48:36 pm »
I don't know exactly how accurate it is but this is what I understand. .

In bitshares the 101 Delegates are voted in to execute the code for a bitAsset market engine which manages the market by:
keeping accurate price feeds (USD,CNY, EURO, GOLD, BTC),
creating bitAsset units against shorting trades,
signing bitAsset transfers,
expiring the short side of trades,
and triggering margin calls if collateral is squeezed by the price algorithm

This decentralizes the market administration which means traders do not have counter party risk while trading. So instead of only avoiding counter party risk while sitting in a basic account, with bitshares account holders also avoid counter party risk while trading bitAssets. Since the bitAssets are "Assets For Difference"* their value tracks external world assets. So bitAssets act as crypto currencies with values linked to external markets.
 
Bitcoin can do multi-signature accounts but it doesn't have such market engine features natively. I read assumptions about bitshares that seem unaware of the absence of counter party risk while trading and holding bitAssets. It is important when comparing with bitcoin, Tether, NuBits, etc to explain this particular feature as it's a very unique and valuable.   

*bitAssets should not be called contracts or CFDs because a contract implies something is unfinished and so obligations exist that still need to be performed. Since bitAssets are automated algorithms they are already completed when they are transferred and do not depend upon a counter party to perform anything further.


22
Stakeholder Proposals / Re: Paid Workers Proposal for Review
« on: May 08, 2015, 03:34:24 pm »
FromOP:
"Step 2:   Assume there is a list of projects that specify how much they need paid each day.

Next define each project in terms of the following parameters:

1) Start Date
2) Fundings to Receive Per Day
3) End Date for Funding
4) Vesting Period for Funds Received
"


Thanks BM for sharing the idea. I think voting by project is great. Consider the idea of making each project open to many bidders. We can all vote on which projects are the best ideas and approximately how much we are all willing to chip-in. Then many developers can come along and bid on each project by detailing their proposals. This way we will also have backup providers in case something goes wrong with first developer/group. 

23
General Discussion / Re: Why no one is shorting bitassets?
« on: May 04, 2015, 01:24:06 pm »
Expiring shorts are also automated so are exposed to the same issue but everyone agrees they shouldn't be penalized 10%. If the market feed price is trailing the market price that is a separate problem that should be addressed separately. Perhaps compare the current price feed to that of yesterday or 4 hours ago to see whether a swan event is currently happening or something. But anyway it shouldn't be a policy against the short who is margin called.

24
General Discussion / Re: BitAssets 2.0 (formally 3.0)
« on: May 04, 2015, 01:17:24 pm »
Conclusion
The rules of BitAssets need to guarantee a floor on the value of BitUSD of $1.00 and the cost of providing this floor is certainly greater than 0.


Therefore the shorter should be receiving interest and not paying interest.

25
General Discussion / Re: Why no one is shorting bitassets?
« on: May 04, 2015, 12:02:26 pm »
Yes. I don't have a problem with it for margin calls, but enabling it for expirations is pretty bad.

Why should it even happen for margin calls? The whole point of putting down a certain amount of collateral is to keep you covered up to a certain market price. Once that point is reach you just unwind. The participant has already lost pretty bad at that point so I can't see any trading strategy that depends on that setup.

26
General Discussion / Re: Shorting Best Practice help page
« on: May 04, 2015, 11:56:28 am »

27
General Discussion / Re: Shorting Best Practice help page
« on: May 01, 2015, 10:47:26 am »
I was thinking something like this:

Shorting in bitshares.doc

I have no idea if the details in here are correct. Perhaps someone who understands shorting better can update it.

28
General Discussion / Shorting Best Practice help page
« on: May 01, 2015, 09:33:02 am »
Is there an official page somewhere that details how the shorting mechanism works expressed in a way that is easy for average users who want to short to understand. There appears to be a lot of confusion over shorting best practices. A flow chart would be nice explaining what happens is a variety of scenarios and what options are available to users. 

29
General Discussion / bitCNY demand is really firm
« on: April 30, 2015, 07:34:22 am »
Looking at bitCNY here and here:
https://coinmarketcap.com/assets/bitcny/
http://www.bitsharesblocks.com/asset/info?asset=CNY

Unfortunately one chart is market cap in USD and the other is CNY. But in both charts it appears that the demand for bitCNY over 365 days is very firm. Between April 11 and 14 someone bought 50k USD on bitCNY. In CNY the collateral locked by the network has tripled since December. On the other hand the bitUSD market cap has been falling. Unfortunately it the bitsharesblocks bitUSD charts do not display the supply charts for some reason.

I wish I could view all these charts based in BTS. Anyone know where to get the raw data from? Am I reading this data right?

30
Right on, the main point being the excellent reduced risk profile of 101 delegates vs 1 gateway/exchange. Its very true that we desperately need the existing gateways especially services like shapeshift and metaexchange in order to simplify access to the wider market. ACCT with bitshares is clearly a longer term goal but it will bring a great reward for whoever does it first because a distributed escrow is a great alternative to centralized exchanges so a lot of demand will flow in, especially whenever a central hub fails.   

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