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Messages - Permie

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Stakeholder Proposals / Re: Proxy: fav - Journal
« on: May 15, 2017, 02:00:19 pm »
So should exchanges start voting as well?
I have already tried reaching them.
For exchanges, I would actually recommend they delegate their voting power to a proxy that is maintained by a group of trusted individuals and owned by the committee.
That way, the exchanges do need to do politices, the stake could still vote and the shareholders have ultimate control over the voting power

How are you suggesting the committee will be able to accurately reflect the will of the shareholders?

A proportional vote across all current witnesses that are up-for-election could ensure that voting stake is used, but the overall effect of the vote would be exactly neutral to the shareholder vote.
(I'm a bit rusty on the mechanics of voting so this might be based on faulty understanding)

Not all shareholders want to vote for the same things.
How can you use the stake to vote for what the shareholders want?
Vote for what 51% of shareholders want?

Could you also explain why non-voting stake is "bad stake"? I am willing to accept that it is, but I don't understand why currently.
I'm sure other shareholders don't either.

p.s Can anyone tell how many lurkers there are that read these forums as their due diligence before investing in BitShares? My point is that many people may be wanting to find information, but do not want to make an account. So I think it is a good idea to have quick explanations of what we are discussing and why and so forth. Lots/most of this information is available in the BitShares documentation, but having information feeds from all angles certainly doesn't hurt.

I would also suppose that doing a search for a specific question about BitShares would more likely lead to a post on this forum, rather than a page in the online official documentation.
I may be wrong.
e.g My post 2 years ago about paper wallet setup for BTS 1.0 is still the top hit for "paper wallet BitShares 2.0"

(Sorry fav if this if your journal is the wrong place for this)

I've just reached 500 posts, and seeing "Hero Member" underneath my name gave me some feel good fuzzies about this place.

So far already I've had 7 days 9 hours and 33 minutes of exciting entertainment and I wouldn't have had any of it if you people didn't contribute to the conversation

Thanks for posting here everyone!

P.S In the process of trying to find my forum stats for time online, I noticed that an average of 33 new accounts are created on this forum per day. Not bad.

Paper wallet functionality sure is confusing in BTS 2.0
I'm sorry that I personally can't help you, but I think this kind of issue is a big problem for BitShares at the moment.
TREZOR hardware wallet support would solve this issue somewhat

General Discussion / Re: BitShares basic diagrams by BTSwolf
« on: May 15, 2017, 10:29:03 am »
Note to other shareholders: bts wolf has already earned $40 via steem for producing valuable content that helps BitShares' adoption

Technical Support / Re: Import Problem
« on: May 14, 2017, 10:15:49 pm »
Problem Solved. fluxer555 helped me. Thank you!

The solution to my problem was to Make a Bitshares 2.0 back up and dont forget to add .bin when you make a backup. And Make a wallet model account instead of account model.
Elaborating on how you solved this problem would be a useful resource for other shareholders who return to claim their shares in the future :)

General Discussion / Re: BitShares basic diagrams by BTSwolf
« on: May 14, 2017, 10:06:15 pm »
These will be so useful! :)
"Read these 4 slides" is a quick intro to bitshares. Much better than a wall of text, which looks boring.

Thanks BTSwolf

General Discussion / Re: Fees Report
« on: May 14, 2017, 06:32:20 pm »
I'm pretty sure most of the fees collected as a result of BitUSD are in BTS. It's possible to pay fees with another asset, but it usually doesn't happen.
Makes sense, cheers.

So the vital statistic that shareholders should be looking at to see the overall profitability of the network is the 'fees collected in bts'?

General Discussion / Re: Fees Report
« on: May 14, 2017, 03:57:42 pm »
A report on the fees collected on the BitShares blockchain through April 2017 can be found here.

During the month, 2.97 million BTS were collected for 2.87 million operations (within 1.01 million transactions) on the blockchain.

During the month, the leading distribution of BTS feed collected for operations were as follows:

Operation Type% of Total BTS
Asset Create67%
Account Upgrades14%
Limit Order Create7%
Account Create6%

Two charts are available within the document: one for fees versus time, another for operations versus time.

Thank you so much for this data!

I've just read it quickly, and I can see that in Table 2
Table 2. Fees collected by the blockchain from 2015-10 through 2017-04 for the different operation types.
That the 'Quantity' of fees(?) for USD since October 2015 (18 whole months) is only $113.6

Does this really mean that BitShares has only collected £113 worth of fees by enabling the use of bitUSD for nearly 2 years??

General Discussion / Re: BlockPay in Serious Trouble
« on: May 14, 2017, 03:48:57 pm »
Definitely not resolved!
I understand that many BitShares community members speak English as a second language. Which is great and fine for discussing around on the forums. I'm not complaining about that :)

But when an employee that the shareholders pay via the blockchain write communication to BitShares; accuracy in language is important.
It is the "minutes" of the boardroom meeting with the shareholders.
Once BitShares' scales up, paying bts worth lots of money, the standard for written communication should be quite high.

In general, I think this is something the shareholders should look out for.

General Discussion / Re: Bancor: Smartcoins With Infinity Liquidity
« on: May 14, 2017, 03:04:25 pm »

Opposite is also true. It should not be difficult to make a better bitUSD in ethereum, it is surprising that nobody did it yet.

Disagree, oracles are still very shitty on ethereum.
Would you mind expanding on why BitShares is superior to ethereum in this case?
The more information like this that is public on the forum the better, imo
Cheers :)

why target numerous regulatory-crippled fiat currencies when Gold is available everywhere and it's real money.

Because goldbugs are a small group (compared to others like sports betting as 1 example), and being very familiar with gold's ins & outs (do your research into my early history here, which I also described on steemit here) I can tell you it's not better than fiat in terms of the overhead and hassle.

It definitely is not a typical mom & pop play.
I stand corrected about the level of regualtory hassle involved with gold.

But, goldbugs aren't the only people this might be suited to.
Average-Joe trusts gold more than he trusts any crypto.
And gold shops are everywhere.

Perhaps methods like use. Bank transfer to seller, or cash deposit in sellers bank account.
BitShares' providing services to help localbitcoin traders more easily manage their business would be great.
It might even persuade them to recommend a BitShares2.0-powered-multi-coin-wallet to the customers who trade with them.

i am new at openledger and need help

for bitshares client there has been sync problems for a long time, and the client does not sync more presently

i find my account on openledger, but the account number is slightly different, and the password does not match with that of bitshares

how can i retrieve this password ?

thank you for help
When did you set up the bitshares client that you are running?
If it was more than 2 years ago, then it sounds like maybe you have BTS 1 shares, which can be redeemed for exactly the same amount of BTS 2.0 (the new version).

There are some guides on 'migrating to BTS 2.0'

It's no wonder the BitShares community is still small; it takes dedication to jump through all of the hoops to convert fiat cash in their pocket into bts in their secure, private wallet and become strong-handed shareholders.

BitShares is an unfinished product at this stage.
But I think that soon the final pieces of the puzzle will come together: multi-coin cryptowallets secured and facilitated by Bitshares 2.0 technology.
Once people are using this multi-coin-wallet-by-BitShares2.0 they can browse all the various coins, or they can just buy and hold any of the cryptoassets available.
I am confident that the eventual result will be that the majority hold BitShares 2.0 powered assets. And BitShares will win.

But the process from fiat-average-joe to crypto-user has several intermediate steps of understanding. Physical gold is perfect for following along that process.
Currently the vast majority of the unbitshared are going to be people who don't know anything about cryptocurrency at all, other than having heard the word 'bitcoin'.
Currently, BitShares 2.0 advocates cannot easily and simply introduce their crypto-illiterate friends to the world of cryptocurrency.

"But why not just tell them to download a BitShares wallet?"
Because this new person is unaware of any crypto at all, and is most likely wanting to do their own research about what they buy.
Going straight in for the "BITSHARES IS THE BEST DOWNLOAD IT NOW AND IT'S SO GREAT" can sometimes work if you phrase it right, but they still might want to try out other coins.
They will have to download and secure and remember and...and...and... for everything. It's daunting and time consuming. These are not tasks that the vast majority of potential BitShares customers and shareholders are likely to commit to.

The crypto-Sales pitch would work MUCH better if the newcomer could convert something they already hold, FIAT CASH or GOLD(!!!!) , into a crypto-guarenteed version of that asset that could be held in a multi-crypto-wallet-secured-by-BitShares2.0 .

In this way, the newcomer can walk to their local gold-shop and use their services to buy themselves a crypto-tradeable asset.
Cash4Gold shops are almost universal in every country in the world, why target numerous regulatory-crippled fiat currencies when Gold is available everywhere and it's real money.

Introducing new people to the cryptosphere can be much quicker and easier to explain. People understand that gold has value of some kind, and to trust it enough for use as an intermediary, a starter-currency to dip their toe into the crypto waters. They trust gold more than they currently trust any cryptocurrency.

A simple to use, android+iphone+windows phone wallet is needed. Similar in style and minimalism as "breadwallet" for bitcoin.
The phonewallet should enable paper wallet security, the ability send/receive bitGOLD using a QR code. That's it.

This simple, universal phonewallet would be used for the first-step introduction only, or for the simple gold holder.
If a goldbug wants to move country, they may not want to pay for or trust physical delivery of their gold. Gold is gold so they are not sentimentally attached to those particular gold coins/bars.
They could sell this gold for bitGOLD at their local goldshop, fly to their new country, and then use the same amount of bitGOLD to buy physical gold at the gold-shop in their new country.
It's easier to physically protect/secure in your handbag than real gold. It's just paper. (With 2 backups left with 2 separate family confidantes keykeeper.) "Will you be my keykeeper?" May one day become a commonplace question.


The main, most challenging hurdles are the non-crypto side, with fiat being the most tedious.
Once new people get transferred into crypto they are very surprised how quick and easy it is to scan a QR and send money instantly. No form filling. The quicker a new customer can get crypto-side, the quicker they can get past the most-annoying part of the setup process.
Streamlining the noncrypto to crypto process is the bottleneck that needs tackling most.

The fiat-processes of form filling, the verifying, the security measures that are required because it's not real money really slow people down. Circumventing/minimizing the need for these tedious tasks should be a priority.

Physical gold is physical gold. If the shopkeeper is satisfied that the gold he sells in his shop is real gold, he can accept it as payment for bitGOLD. . There is far less form filling and regulation around gold selling, and peer to peer trading of physical(crypto included) assets.

"Hello Gold-Shopkeeper, I would like to buy a gold nugget weighing approximately $20 worth please."
Certainly, here you go. Thanks for completing this trade with me... Now that you own some gold, would you like to trade it with my shop in exchange for an almost equal amount of bitGOLD that allows you to easily dip in to the cryptosphere?
Sounds like my dream come true. Swap my gold. I've already set up my simple bitGOLD wallet. So it'll take 10 seconds to trade with you!
Excellent, I now have x grams of bitGOLD.
Now I'll go home and send this bitGOLD to my main-computer using my multi-crypto-wallet-secured-by-BitShares2.0 .
Now that I have imported a small portion of my wealth onto this multi-coin wallet I can really snoop around the crypto world and then buy+store these coins all within this one wallet!
ONE AND DONE setup for access to the vast majority of the cryptosphere.

Thank you, come again.
I like those extra profits. I trade the spread on physical gold, using my highly secure bitGoldDealerApp to hedge my gold reserves without trusting an expensive insolvent stockbroker.
BitShares saves a lot more money for companies like me than for individual consumers. Businesses currently pay huge fees for financial services, with BitShares I MAKE money on transaction fees! The banks make all their money from businesses and provide consumer accounts as a tiny sideline.

I also use a multi-coin-cryptowallet-secured-by-BitShares2.0 that I use to pay myself a salary and manage my personal funds.
I put 10% of my monthly salary into my private bitGOLD fund for hedging against fiat-collapse, 30% in my pocketbook for my cost of living,
30% (!!!!! :( )stored in fiat ready to pay my tax bill, 20% in my HERO +5% retirement savings account, and 10% on my leisure and egaming hobbies.
It's so easy!
All I have to do is securely store these 3 pieces of paper in multiple locations (family houses) and use this TREZOR HARDWARE WALLET!!!!!! to type my password and to never use my naked computer keyboard to authorize transactions.

I can get set up with a hardware wallet secured multi-coin wallet for a total of less than $80! From then on the fees are so low I barely notice. A one off fee of $80 to secure my business portfolio vs a lfietime of paying $$$ in fiat-service fees.
The more customers I trade bitGOLD to, the more money I make in fees!



General Discussion / Re: Bancor: Smartcoins With Infinity Liquidity
« on: May 14, 2017, 01:14:59 pm »
Apart from this it looks like it should be quite simple to implement that mechanism in BitShares - any takers? I bet abit already has it in his test network. ;-)
Does abit do lots of coding for BitShares?
I'm unaware :)

General Discussion / Re: Liquidity, Liquidity, Liquidity
« on: May 13, 2017, 09:34:38 pm »
Just an idea for everyone here without any special talents like software development:

  • Borrow USD
  • Borrow something else or deposit some other awesome crypto you don't mind holding
  • Check the USD price from
  • Set up buy and sell orders at 2-4% spread, 10 orders on each side at 1% increments
  • Check out your market every 12 hours

  • You will make a profit once someone else takes your orders
  • You will make the DEX look good
  • Your actions act like a seed. A bootstrapped market invites more participants
  • You can hold your BTS while trading other coins against USD, which itself benefits Bitshares
  • You don't take any risk by holding something you fear might crash
  • You can diversify within the DEX
  • You will need other exchanges less
  • People want to trade on the DEX, and together we can provide to them.
  • You don't take the risk of leveraged trading, unless you trade in BTS markets

I've done this to the USD:MAID, USD:STEEM, USD:BLOCKPAY, USD:BTWTY, USD:EUR, USD:GOLD, USD:SILVER markets, and next I'm getting some Synereo AMP and Tauchain AGORAS to bootstrap USD:AGRS and USD:AMP markets. Once LBRY and Solarcoin are added, I will do the same to them. I'm doing all this with some €4k, which is all I have.

I'm a little amazed about the fact that I'm bootstrapping or helping bootstrap several markets, while I hold only 1/1,000,000 of all BTS (or something to that degree). What are all other holders doing? How much liquidity and how amazing markets could we provide with all that BTS? Is everyone so afraid, so the keep BTS at Poloniex just in case? Come on everyone! I don't want to brag, but point out that we have everything we need. We can do it by - doing it :-)

EDIT: If you check out the markets, you might notice that I fail to keep all the markets nice. I keep running out of liquidity myself, but then I try to readjust my holdings in order to be able to continue. Then there's the STEEM:USD market, where my orders are tiny compared to one single $6k wall, which makes it look ugly, but so what. The market is working!


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