106
General Discussion / Re: [ANN] Bitshares gateway GDEX is launching
« on: November 27, 2017, 01:16:17 pm »
How does deposit work? Do you issue your IOU or do you use bitBTC?
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.
107
General Discussion / Re: OpenLedger propose Bitshares 3.0 enhancements (NEW)
« on: November 25, 2017, 09:16:39 pm »If you don't believe in BitShares' future, just dump (if you still have some) and leave, no need to waste time here.
This is a beauty of this platform: event if I don't believe in BTS token future, I can still use this platform. It does not require trust or believes at all. You screwed bitCNY, I dumped them, but I still trade a lot of $$ per day on btsbots in many available assets. And I don't even need to touch BTS tokens to use this exchange (except for tiny fees). This is incredible system, which gives a lot of freedom. It just needs some flaws to be fixed to become a true mega exchange.
108
General Discussion / Re: OpenLedger propose Bitshares 3.0 enhancements (NEW)
« on: November 25, 2017, 04:03:35 pm »Multi-signature IOU gateways for DEXs are so 2016... these already exist on Waves, Komodo, Supernet, etc., and have existed for some time now. It is nothing new and will be outdated implementations soon. They are technically still IOUs like OPEN.BTC and counterparty risk still exists if the majority of signers are compromised or collude. By the time you develop such a product, better solutions will have arisen.
Look closer at Atomic Swaps (no IOUs, derivatives, or counterparty risk). They are coming to fruition soon in 2018. There have been several successful atomic swaps done in both development and live blockchain environments by many blockchain projects. The only thing that is missing is a good GUI, which is relatively easy to code...
https://twitter.com/SatoshiLite/status/911328252928643072
https://blog.decred.org/2017/09/20/On-Chain-Atomic-Swaps/
All Lightning Network implementations are working on Atomic Swaps (at least 3): https://lightning.engineering/ & https://blockstream.com/ & https://acinq.co/
DEXs in development that will leverage Atomic Swaps:
https://www.altcoin.io/
http://barterdex.supernet.org/
https://blocknet.co/
Anyone that is informed in the crypto space knows this is the direction DEXs are heading. Not only DEXs, but interoperability will go mainstream in 2018/2019 rending crypto IOUs (OPEN.BTC) and derivatives (bitBTC) useless and not worth the risk (unless perhaps interest from trading fees is brought back to the Smart Coins... but that probably won't save them anyways... and I digress). Get ya'lls head out of the sand before you get buried!
Good review, thanks.
109
General Discussion / Re: How would one trade bitUSD/USD?
« on: November 23, 2017, 11:20:34 pm »Quote
I don't know what magicwallet charges, but my guess is that it's at least 2%
They say, they charge nothing. It is p2p gateway. I can't check it out, because I don't understand Chinese.
110
General Discussion / Re: How would one trade bitUSD/USD?
« on: November 23, 2017, 07:58:58 pm »Hi everyone - thanks for the responses. While it's great that one can trade bitUSD/OPEN.USD, the broader issue is that there's no clean way to trade the peg. Looking at OPEN.USD volumes, they are quite limited. If one could trade bitUSD/USD directly, I'm sure the peg would much closer to 1:1 similar to Tether. If you guys have any other ideas, please let me know. Thanks again.
Chinese trade between bitCNY/CNY directly through their magicwallet gateway. Perhaps, the same could be done for other fiat currencies.
111
General Discussion / Re: How would one trade bitUSD/USD?
« on: November 23, 2017, 05:20:54 pm »Quote
Is there no way to trade bitUSD/open.USD? The same question applies for bitEUR and bitCNY. I think there's an obvious opportunity to allow speculators to help maintain the peg. Cheers.
Sure there is a way. I am trading bitUSD/OPEN.USD and bitEUR/OPEN.EUR all the time on DEX.
Quote
One issue is that bitUSD is perceived as a better asset compared to OPEN.USD so people might completely ignore this market.
You can't withdraw/deposit bitUSD to/from fiat directly, this is why we need OPEN.USD. The trade on this pair is indeed slow, which indicates that this gateway is not very popular.
112
General Discussion / Re: OpenLedger propose Bitshares 3.0 enhancements (NEW)
« on: November 23, 2017, 05:12:30 pm »Quote
making decentralized gateway (according to vote results) seems inexpedient
Chinese don't think so. Their magicwallet seem to be quite popular way of depositing funds into bitshares. (So popular, that they decided to screw up bitCNY to make up for disbalance between deposits/withdrawals)
113
General Discussion / Re: plan to raise the bitCNY force settlement offset to 5%
« on: November 22, 2017, 04:02:08 pm »
The GUI still shows that settlement price is the same as the feed price. This is confusing. How should I read this?
114
General Discussion / Re: Bitshares will be missing out on a huge market if...
« on: November 22, 2017, 03:40:07 pm »
As far as I understand, atomic swaps is still under development, I mean, this is not something you can plug into blockchain right now. I is correct? Anyway, this is something we should watch closely.
115
General Discussion / Re: The hidden danger of bitshares's system
« on: November 22, 2017, 03:34:42 pm »
I believe, both uptick and cli client support this. Didn't try this myself though.
116
General Discussion / Re: Lack of marketing. Time to hire a professional agency?
« on: November 20, 2017, 06:33:59 pm »Do bitshare holders benefit from hero?
The Billion Hero campaign is designed to promote the Hero token by raising awareness for bitshares.
Some time this summer Stan has locked 3,000,000 bts in a dedicated wallet, it was worth $1,000,000 back then. The campaign ends when this locked amount of bts worth $1 billion (thousandfold increase in price). So yeah, it benefits the bts holders a great deal.
This campaign has more chance to end much faster, when his $1000000 get margin called. Or did this already happen? o_0
117
General Discussion / Re: Lack of marketing. Time to hire a professional agency?
« on: November 19, 2017, 06:30:23 pm »I talked about it in the "marketing efforts" thread, but it wasn't taken too seriously.
At least we have some marketing in China now
Thanks for coming back to say something.
It's too easy to just let a few people hash it out, read the forums, and contribute nothing.
It gives the illusion that it's only 3 or 4 people concerned. If you are reading this and have said nothing so far, please reply to this thread.
It is not surprise, because most of people who read this forum (including myself) don't understand a crap in marketing. I guess, if you know how to do it, the best is just go ahead and do it.
118
General Discussion / Re: plan to raise the bitCNY force settlement offset to 5%
« on: November 19, 2017, 06:27:29 pm »Quote
congrats on creating a market nonpegged asset
It is still pegged by the way, but to different price, this should be mentioned throughout bitshares publications. When those Chinese, who deposit funds via bitCNY, will realize that they can't exchange them for other tokens at fair price, they'll be very happy.
119
General Discussion / Re: DPOS Resilience From Government Censorship
« on: November 16, 2017, 04:39:50 pm »What protects the anonymity of the witness nodes? What's to prevent an attacker from finding the replacements quickly?
Also, it's not just attacks that take them out entirely that we have to worry about. What if they're all corrupted, but still operational?
A few owners of Chinese exchange can collude and change bitAsset rules at their pleasure right now. But we should not worry, this is cool.
120
General Discussion / Re: plan to raise the bitCNY force settlement offset to 5%
« on: November 15, 2017, 05:50:33 pm »I think our bitCNY problem is caused by people in China moving from CNY into (other) cryptos, using bitCNY and BTS as intermediates. I. e. CNY -> (via magicwallet) -> bitCNY -> (via forced settlement) -> BTS -> BTC (or other cryptos).
Exactly, this is pretty evident. They need market makers to create a flow of money in opposite direction to fix this problem.
