Show Posts

This section allows you to view all posts made by this member. Note that you can only see posts made in areas you currently have access to.


Topics - kosh

Pages: [1]
1
General Discussion / Bitshares vs Bitcoin Locks
« on: March 14, 2015, 03:02:26 pm »
Hi,

One of the things that I find most attractive about bitshares is the ability to buy market pegged assets. So, silver, gold, national currency, etc. My question is: how is this any different from an end-user perspective than Coinapult-style bitcoin locks?

For those of you who aren't familiar, see: https://coinapult.com/locks/info

Also, it should be noted that Mycelium (the popular Android wallet) is working on a Coinapult locks implementation: http://www.reddit.com/r/Bitcoin/comments/2yxid5/chainalasys_vs_mycelium_the_full_story/. (See the 3rd paragraph down from the top.)

2
Technical Support / Bitshares and Bitcoin?
« on: March 13, 2015, 12:24:12 am »
Hello,

Are bitshares (BTS) like Bitcoin in that they're subdivided into satoshi out to 8 decimal places? Or, are they divisible to even smaller amounts? I see 5 decimal places on the console for BTS but market assets seem to go on for something like 12 decimal places. Can someone explain?

Thanks!

3
General Discussion / How do I Trade from the Console?
« on: March 12, 2015, 10:18:55 pm »
Hello,

I've been having a difficult time with the Bitshares GUI being unstable and buggy. I did manage to execute a single trade with the GUI, it crashed as the trade was being executed but it still went though--I was able to confirm this by viewing my balance via the console. The web wallet is stable, but trading appears to be disabled. As a result I've spent some time learning how to perform various actions on the console.

I don't mind using the console instead of the GUI. After consulting the documentation and I can't seem to figure out how to execute a trade. Would someone kindly help by providing common examples? I'd like to know how to trade BTS for various market assets and back again.

Thanks!

4
Hello,

I am brand new to bitshares and wanted toss out some questions and ideas that are forming as I get acclimated to it.

I understand there are market issued assets that are pegged to the value of real world things. Then, there are community issued assets that are issued by individuals or groups for various reasons. They're effectively "community coins," "cause coins," and so forth.

Market Issued Asset Question

So, my best understanding is that a group of 50-odd delegates create authoritative ticket feeds and pipe them into the network (via python script?) and this is the minimum threshold for viability of any asset. The discoverable data forms the basis of the price-point and people buy-in/short to create the new pegged asset coins from bitshares native coins. Please correct me if I'm wrong.

Given that, what about creating "numismatic" market issued assets. So, you could peg market assets to the value of (for example) mercury dimes in various conditions. Would that be worthwhile, silly, or somehow both?

"Resurrected" asset types

Playing with that idea and running with it a little further. Since many ancient coinages have generally agreed upon precious metal content "ressurecting" a virtual coin with the same value as the metal content would be theoretically possible. It would simply be a matter of discovering the price of the metal(s) contained in them and doing math. For example, the Denarius originally had 0.105 ozt silver content. Could an asset be created that was equal to 1 ozt silver * 0.105? Is this doable? Any comments on the utility of it?

Do-It-Yourself Crypto-RITs

This one is a virtual asset. Has anyone played with the idea of creating a "coin" for their property on 123 MAIN ST and treating it at least sort of like a RIT. Not withstanding legal implications for doing so, would there be any point? Would that be a market asset (using discovery to estimate the market value of the property) or a user created asset only? Can an asset be a hybrid discovered and user issued assets?

If you think these are dumb questions all I ask is that you be constructive in your response. :)

Pages: [1]