Background. Bit20 (BTWTY) has been operating as a transparent representation of the largest market capitalization cryptocurrency projects continuously over five years. Because the assets themselves function as public and open DAOs, anyone is free to access the published feeds and create their own contracts on the BitShares blockchain. The project has always had a team monitoring and updating the parameters of the index.


Over the years, the team behind Bit20 has responsibly maintained the software and governed over fair value pools. Further, they have taken on increasing responsibilities while releasing a series of projects (Bit20, Twentix, Blocktivity). After long consideration in conversations EstefanTT will shift day-to-day operations of the BTWTY & TWENTIX asset & website to JohnR. After this transition JohnR and a small team will continue operation of the assets including maintaining community communication. First priority will be improving the asset from global settlement. Ensuring full value for token holders is first priority.


Management: The new operator for the Bit20 and Twentix indexes will be John Conlin.

“As the new operator of the Bit20 technology and its historical legacy, it is my primary concern that all holders and supporters receive the experience promised them when the project began. I’ve been a frequent poster on bitsharestalk.org, served as a Committee Member, and cultivated meaningful relations with other individuals and businesses. I care about a reputation for honesty and will put significant resources behind this project – aligning my incentives with fellow token holders.”

“It will not be easy, but I look forward to helping the Bit20 DAO reach greater success than ever.”

Estefan & I will answer any questions of both current token holders and prospective token holders.

John
Telegram - @nonfungible_john
BTS – “johnr”

I've just listened to the BitShares special Hangout.

The fees actual structure have been mentioned but without further thoughts. Someone said something like "didn't we have kind of a solution for that?" and the conversation on the topic died.

Just as a reminder the solution we've encountered a while ago was a very good one !!!

The conclusion was that the best way to handle fee without killing the referral program was to have a hybrid system with rate limited Tx and percentage based fees.

I'll use an example with BTS to explain it :

A transaction from 0.00001 BTS to 200 BTS has not fee at all. (Micropayment possible !)
A transaction bigger than 200 BTS has a 0.1% fee (no one will ever complain to pay 1$ on a 1000$ Tx nor to pay 100$ to move 100,000$)
We could also have a top cap. Tx higher than 100,000$ keep that 100$ fee for example.

To avoid the possible attacks allowed by the Free Tx, we limit the number of transactions someone can do in relation to your funds in BTS (rate limited Tx).
So the more you can abuse the system, the more BTS you need to have in it ... and the less you want to screw it up ;p
It also implies that any company on BTS should have some fund in BTS if they plan on having lots of Tx.
I don't know how they manage that part on the Steem blockchain but their solution may also be interesting.

Having this new system give another chance to the referral program. If you refer a person who will, in a no so distant future, pay its gasoline, cigarettes or groceries with Blockpay, they will produce much more fees that what they would have with the 2015 stable fees structure.
Let's imagine a person who is using crypto for gasoline and from time to time for other stuff in a typical month. Gasoline twice, 10 cigarettes boxes and a couple of groceries at the local small shop accepting crypto. That would be around 250$ paid, so around 0.25$.
60% of that goes to the referrer, so around 1.8$ a year.
I think that it would be enough to motivate people to start again thinking to promote BitShares!

The trading on the platform could also take 0.1% and free order creation and cancellation. Other feature on the platform could integrate this system and produce more and more fees for the referrers.

A Little story to show how reviving the referral program is important. I spent months on building Bitsharesfcx.com website. I started with learning HTML, CSS and some PHP from knowing absolutely nothing .... really nothing, not even what <p> or </br> meant !!! My two friends translated the whole BitShares.org website, the BM blog, flyers, infographics, articles.. we've also translated the book from Max Write.
We have done all of this because we thought BitShares is amazing, we want to help to spread the word and BM just had given to us the perfect tool, the referral program. We made the math and we concluded we could invest a shit load of time in the website. We were going to be the gateway for the millions of people that speak french but not English well enough to learn about BitShares in the next years.
Well, since the referral system has been put in sleep mode, there is a very perceptible lack of motivation in our team and it's very understandable. We are also in sleep mode, nothing has really changed for the last year or so. We may have spent all this time for nothing, that isn't the kind of thought that gives you the motivation to keep working.
If the referral program would be back, providing a way to produce incomes by promoting BitShares, we would probably end up beeing back on the project.
Conclusion, the referral program works, the problem is the current fee structure.

I wanted to share my experience and summarise what I still have in mind about this topic so we can include it in the @Chris4210 BitShares improvement list.

But how exactly is it made, what are the coins in it and how can I invest in it?

I'm here to share with you this promising blockchain project and answer all your questions. 

I wanted to create a tool that allows anyone to invest in the global economic growth of cryptocurrencies without a headache. Just buy something that will track this soon economic Cambrian explosion.
This tool had to be decentralised because we all know how centralised projects dealing with money end up, especially in the cryptocurrency world. So my team and I have created a cryptocurrency index fund (ETF like).

I want to spread the information about this index fund in the crypto community so everyone can invest in a great asset that will grow as the cryptocurrency global market grows. Not something going up and down wildly, but more something like a monster slowly waking up and devouring the fiat money markets.

I want it to be a place where you can store your value with a high probability that months later, you will still have your investment intact and a nice return on investment.

I also want to spread the word out of cryptocurrencies. My plan is to start with the cryptocurrency savvy crowd and then move on to trading forums, forex, stock markets and others. This is how I aim to make new money comes into this space. The bigger the index daily volume will grow, the easier is going to be to promote it and make people interested in crypto.

The index took almost a 2 years to be fully tested and heavily reviewed. It´s finally ready and has been officially launched on the BitShares decentralised exchange on 16/12/2016. The index is fully decentralised and every Bit20 will always be backed by a minimum of 175% of its value.

Here is the evolution of Bit20 ober the last 18 month in $ :



This is 100% secure, 100% decentralised, 100% pure cryptocurrency !

If you have any question, please have a look on the website at the "FAQ"  or "About Bit20" tab. If you don't find what you are looking for, I'll do my best to answer you in this post.

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The BitCNY : BTS market is doing very well !

I have been waiting for a while to start trading in the DEX BTS Vs a fiat currency, to do some day trading (noob style). Until now, the liquidity wasn't that good BUT it has changed !! Now, it's really possible to do that on the CNY market ! That's amazing !


Now it's possible to day trade without being worry if there will be a way to sell or buy and the right time.
I'm not a pro trader (very far from it actually) and there is obviously still a lot of improvements to be made in the DEX and at the liquidity level but this is a very nice improvement !

It may looks like just an increase in liquidity in one of our market but I see it as an amazing step ! Liquidity will bring more liquidity, then the other markets (USD, EUR, ..) will catch on !

Just wanted to share my excitement and let the readers of this forum that it’s now possible to easily trade BTS : stable fiat money in a decentralised way !!!

BTS : CNY

Hey guys,

I wanted to do something about the bad perception and negativeness around BitShares. 
I wrote this article to try to change it.

Please upvote and share it.

Let's try to get this article read by (A LOT OF) people outside of BitShares.
It's a small step towards better understanding of BitShares. Let's make it count ;p

Cheers and enjoy !

BTS talk forum don't let me past the link.

If someone knows how to do it, please explain to me, I'll change the link.

Here is the link : https://steemit.com/bitcny/@EstefanTT/why-bitshares-is-not-already-worth-1-billion-dollar-

You can copy-past in your browser ( sorry )

Edit : If you don't want to copy past the link you can go go down and click on the link Tuck Fehman provides in his answers.

In july, with a friend, we made an index (BIT20) composed by the top 20 crypto currencies by MC. Every crypto in the basket is weighted in the same way popular indexes like the CAC40 are. This way, Bitcoin doesn't move strongly the value of the index and the last of the top 20 have an impact on the index if its value grow. We also created an other index called FIAT10 who is made in the same way to represent the top 10 FIAT. So we have been able to compare BIT20 to FIAT10 and see the globale evolution of the crypto sphere Vs the FIAT money since July 2015.

The unofficial beta web site is only made in french at the moment but you can easily take a look at the graphs and the way the 20 cryptos are weighted.

Home page with BIT20 Vs FIAT10 : http://www.bitsharesfcx.com/bit20/homepage_fr.php
Individual crypto Vs the basket BIT20 : http://www.bitsharesfcx.com/bit20/graph_fr_4.php

A recent thread ( https://bitsharestalk.org/index.php/topic,21955.0/all.html ) open our eyes on the fact that it wasn't that complicated to create a BitShares smartcoin based on what we already have working flawlessly since july 2015.

After some reflexions we are decided to continue and push the idea forwards.

The next steps we have in mind are :

# review and re-review our code and make it flawless and bullet proof
# learn how to create the smartcoin and provide the pricefeed in a decentralised way in graphene (I'm already in touch with Xeroc who kindly propose his help)
# revamp the web site in something more proffesssional (only in english for the release), I'm already looking for a nice CSS template.
# get the maximum opinions, reflexion and feedback on the project from the community so we can do it in a smart way
# Officially launch the web site, create the smartcoin and commercialise it.

After this minimum viable release of the web site and smartcoin, we are considering to make the website available in several lenguages and add it other kind of crypto economical informations and graphs.

Anyone wanting to join the team is very welcome, PM me.

Number of users in here beleive that a well done index representing the global evolution of the crypto currencies could grow quickly. There is probbaly lots of investors looking for something like that so they don't have to read 50 forum everyday to know where to invest. I completely agree with them and think that could also bring value to BitShares itself. Let's imagine for a second that this index would grow to be a very liquid, deep market, well-known basket or index in which you can invest in the global evolution of crypto currencies ... BitShares would sky rocket !

The project is moving forward right now and will be done probably sooner rather than later.

The quality of the smartcoin and the website will depend in big part of the feedback and brainstorming we will have in this thread.
There is a lot to discuss. Things like the best options and permissions of the smartcoin, with what we'll back it or what could we have in the website besides what we already have in the beta version (Poloniex troll box, BitShares tweeter feed news, ... ?)
Even the name BIT20 has to be change because numbers are not allow for the smartcoins ... any ideas ?

As this could bring value not only to the smartcoin itself but also to BitShares, I hope we can all join our mind to come with a great index all together.

 

I have 150k PLS, I want them in BTC to invest on something else at the moment.

I'm struggling with the Yunbi process to verify my identity. It's the only place where you can trade them. I don't want to loose a couple of hour of my time to solve this.

So I will sell them 5% cheaper to anyone with a yunbi account wanting to convert them in BTC for me.

147543 pls x 0.001136 = 167.60$

5% off 167.60 = 159$

I will gladly give the difference of 8$ !

(The math can be done again if the price changes)

PM me if interested ;p

Hi,

I imported json file from 0.9.3c in the last release of the MUSE client, enter the password and after a while it shows around 40k keys and my balances to claims.

The total of my MUSE to claim is about half of what I had in NOTE.

I was one of the members who couldn't import in BTS 2.0 because if the high number of keys.

I didn't hit the import button, tried it a couple of times to be sure and here I am ;p