136
General Discussion / Re: Whatarebitshares.com
« on: February 13, 2016, 02:48:41 am »
I really like it! 
We need more good quality videos.
We need more good quality videos.
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137
General Discussion / Re: Graphene: Data security and verification on the chain
« on: February 13, 2016, 02:35:34 am »You want more than just the 2 signatures though. You want multiple signatures between the witnesses to maintain security.
I understand, but I am not sure, whether bitcoin supports "k+1/n of m multisig", where transaction can be made when some of n agree (at least one), and all of k (where k can be 1, a user).
I do think we could become a preferred goto not just for BTC trade but for storage.
Yeah... people like to keep their bitcoins on the exchange... and with DEX this will be secure... finally
138
General Discussion / Re: Graphene: Data security and verification on the chain
« on: February 12, 2016, 09:27:34 pm »
What if we combine this idea with 2 of 2 multisig, and multisig address for each deposit?
1. User want to deposit a BTC in bitshares blockchain.
2. he generate a public key with bitshares wallet, where private key is stored into blockchain with our brand new "Enigma: Decentralized Computation Platform".
Even if all witnesses collude, this doesn't matter, because..
3. user generate own public and private key. He use his public key and key provided by bitshares network, to create a bitcoin 2 of 2 address.
4. he deposit bitcoins, and now bitshares netowork now, that bitBTC can be created with 100% collateral in real BTC.
5. when user want to withdraw his bitBTC and turn them into real BTC, he has to initiate this with bitshares wallet.
6. proper amount of bitBTC are destroyed, and then and only then bitshares network signs transaction.
7. user have to sign this withdraw with his private key.
Previously I had an idea, that private keys, could be spread among all witnesses. This actually would almost not make a difference, because even if the witnesses collude, they cannot do nothing without second private key, which user has. With this approach problem is with situation, where witness actually has a second private key, because he made a deposit. In that case, he could withdraw bitcoins, without destroying bitBTC.
So, if witnesses can together sign a transaction, without knowing a 1st private key, which were used, this would mean, that ... this could work?
1. User want to deposit a BTC in bitshares blockchain.
2. he generate a public key with bitshares wallet, where private key is stored into blockchain with our brand new "Enigma: Decentralized Computation Platform".
Even if all witnesses collude, this doesn't matter, because..
3. user generate own public and private key. He use his public key and key provided by bitshares network, to create a bitcoin 2 of 2 address.
4. he deposit bitcoins, and now bitshares netowork now, that bitBTC can be created with 100% collateral in real BTC
. 5. when user want to withdraw his bitBTC and turn them into real BTC, he has to initiate this with bitshares wallet.
6. proper amount of bitBTC are destroyed, and then and only then bitshares network signs transaction.
7. user have to sign this withdraw with his private key.
Previously I had an idea, that private keys, could be spread among all witnesses. This actually would almost not make a difference, because even if the witnesses collude, they cannot do nothing without second private key, which user has. With this approach problem is with situation, where witness actually has a second private key, because he made a deposit. In that case, he could withdraw bitcoins, without destroying bitBTC.
So, if witnesses can together sign a transaction, without knowing a 1st private key, which were used, this would mean, that ... this could work?
139
General Discussion / Re: Graphene: Data security and verification on the chain
« on: February 12, 2016, 09:06:54 pm »Using the salaries example... every witness knows their own but collectively they compute the average without revealing their
individual salaries. This is similar to collectively calculating a signature without any one party knowing the private key.
The problem is that the parties can still collude to calculate the private key and share it. Furthermore, they could collude to calculate the signature on an arbitrary transactions. In effect, it reduces to multisig.
but if I understood correctly we are no longer limited to maximum number of signers - 15, max MSIG allowed by BTC, right?
140
General Discussion / Re: Is it possible for bitshares to become a sidechain of bitcoin?
« on: February 12, 2016, 08:46:02 pm »141
General Discussion / Re: Graphene: Data security and verification on the chain
« on: February 12, 2016, 08:22:22 pm »
Is that mean, that we could keep private keys in blockchain, like private key to BTC account, which is used to create a bitcoin sidechain? 
Is that mean, that witnesses could also sign a transaction without knowing a key?
Please say yes, please say yes.
[EDIT]
@bytemaster @bytemaster @bytemaster
Is that mean, that witnesses could also sign a transaction without knowing a key?
Please say yes, please say yes.
[EDIT]
Quote
...
Bitcoin Wallet
1. Decentralized private key generation – Multiple Enigma nodes locally create a segment of
the key, whereas the full key is only ever assembled by the user. No trail of evidence is left
anywhere.
2. Decentralized transaction signing – Transactions signed without ever exposing the private
key or leaving a trail.
....
@bytemaster @bytemaster @bytemaster
142
General Discussion / Re: Any reason for the price pop of Bitshares today?
« on: February 12, 2016, 06:21:55 pm »
I would like to believe, that in general this is because awesome ideas which were discussed lately on forum. This I guess, this is not true.. 
143
General Discussion / Re: Is it possible for bitshares to become a sidechain of bitcoin?
« on: February 12, 2016, 06:06:41 pm »
@bytemaster
What if this will be always 2 of 2 multisig for each deposit? One key will be always generated and distributed among witness, and second key will be always in users hand?
bitshares network will allow to release a funds only when proper transaction will be made in bitshares network.
What if this will be always 2 of 2 multisig for each deposit? One key will be always generated and distributed among witness, and second key will be always in users hand?
bitshares network will allow to release a funds only when proper transaction will be made in bitshares network.
144
General Discussion / Re: Interest for a Live Coding Session for the Python Libraries?
« on: February 11, 2016, 04:27:25 pm »Recorded version would be great!livecoding.tv record and store every stream which is minimum 15 minutes long.
145
General Discussion / Re: Interest for a Live Coding Session for the Python Libraries?
« on: February 11, 2016, 03:50:39 pm »Anyone interested in a live (recorded)
yes, Yes, YES!
I describe that idea few month ago here - https://bitsharestalk.org/index.php?topic=19625.0
I recommend livecoding.tv. It is good to schedule (on their website) planned stream, to have better attention.
preffered time? For sure - weekend. You should pick time when it's suits you. From where are you from?
146
General Discussion / Re: bitSHARES - As True Shares and Not a Currency!
« on: February 11, 2016, 10:10:16 am »this might be a really good foundation for BitShares 3.0.
I though about that... and even about rebranding. But if we will do next major release, we have to do this with a proper publicly available checklist. Like:
- all exchanges which has bts on their exchange confirmed that they are aware of migration
- all features advertised in the announcement have available GUI (support for backend is not enought)
- new video is ready and will be released together with updated website
- press kit is ready and available on website
- all builds are ready (like deb packages, exec's, etc.), hosted wallets are already migrated, and they are ready to switch to new version in 1 hour window
147
General Discussion / Re: bitSHARES - As True Shares and Not a Currency!
« on: February 11, 2016, 09:49:07 am »
big disadvantage: because bitshares will be no longer a cryptocurency, I will be not surprised if coinmarketcap will remove bitshares from the list. In the other hand.. bitshares will be still tradeable.. but only on the DEX.
148
General Discussion / Re: bitSHARES - As True Shares and Not a Currency!
« on: February 11, 2016, 09:46:17 am »I think it's more about perspective and the language about it being a share-based model that is appealing, but fundamentally we can already be considered that and whether trading happens inside or outside doesn't change the nature of the system fundamentally.
Isn't it completely key to this design? Arbitrage is the problem, isn't it, and this solves it?
For me, it seems, that exchanges will have to have similar/the same withdraw fee. They basically cannot offer much more what would be worth of paying additional fee.
But in the other hand, at the same time ... gateway could issue own loyalty program points. And give them to people, for example 10 points for each 1 USD send through gateway. Also... they can distribute in the same way shares of their gateway. Specific gateway can later share a profit with shareholders
149
General Discussion / Re: bitSHARES -The shares! Getting rid of any token connections and a ton more
« on: February 11, 2016, 02:53:13 am »Quote
You might ask, why anyone would risk issuing an assets, when in case of margin call, they would loose their money. In my understanding the benefit would be a bridge fee as a profit. But is it that mean, that issuer will has to believe, that BTS price will rise? Is it not a too risky assumption for businesses like gateway/bride provider? Exchanges should earn money despite the fact that prices sometimes drops.True. Exchanges should not be the final bitUSD issuers (or at least not with big portion of their funds). Ideally they should just buy bitUSD from the market and leave the risk spread between several (hundred; thousand???
but gateways could do that in the current implementation of bitshares 2.0, but they decided to issue their own assets, and trap user in their 3rd-party risky UIA orderbook. Right now there is no direct gateways. As far as I know, only http://www.transwiser.com/ solds CNY-->bitCNY as 1:1 (1:0.997 in oposit direction)
Isn't it nearly always the case that you short sell because you think your collateral will increase in value?
In your scenario what if CCEDK just bought 1 USD off the DEX or some other exchange rather than issuing it themselves and then offered you $0.99 bitUSD for your $1 USD. Then they make their 1% spread without being exposed to any collateral risk. They'd also offer to buy bitUSD for $0.99 USD making their spread 2%.
that is true, but I don't see why proposed idea is better. Right now they can do exactly the same... and still they don't.
Am I missing something?
Right now, the only difference I see is that you want to block a possibility to transfer BTS, and force people to trade them for bitUSD and later. Imagine what Poloniex will think if they be trapped inside our DEX. Of course, people can be notified in the first place to withdraw funds from poloniex, but later we would trap them in DEX anyway... they will be trapped, because right now we do not have developed strong gateways. Hearing such news, I would prefer sold all my bitshares, just in case. And if you think, that people will come immediately directly through gateways/brides, you are probably wrong (IMO).
maybe it will be better to make a fork? I don't know.
PS.
Maybe we should focus on different bitAsset, I mean bitCNY. They provide direct almost 1:1 gateway.
150
General Discussion / Re: bitSHARES -The shares! Getting rid of any token connections and a ton more
« on: February 11, 2016, 01:54:27 am »
You might ask, why anyone would risk issuing an assets, when in case of margin call, they would loose their money. In my understanding the benefit would be a bridge fee as a profit. But is it that mean, that issuer will has to believe, that BTS price will rise? Is it not a too risky assumption for businesses like gateway/bride provider? Exchanges should earn money despite the fact that prices sometimes drops.
