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Messages - zapata42

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46
General Discussion / Re: ETF on Blockchain
« on: March 02, 2018, 10:50:14 am »
Quote from: JohnR on March 02, 2018, 03:29:31 am
Very cool project.  Would love to continue the conversation.  Are you on telegram or discord?

You can reach me on telegram: Zapata.

I'm rarely on Discord (same nickname).

47
Beyond Bitcoin [closed] / Re: VEGGIECOIN A Cryptocurrency That Helps Animals!!
« on: February 27, 2018, 11:44:49 pm »
Quote from: Oskii on February 19, 2018, 01:30:43 pm
Quote from: xeroc on February 19, 2018, 01:29:46 pm
I didn't know POW is still a thing ..

Ever heard of bitcoin?

We're not creating oligarchies here, we're helping animals.

If you want to help animals, start by saving their planet and stop using POW.
POW is a waste of energy! Animals needs a sane planet!

48
Technical Support / Re: Wrapper for Common PyBitshares DEX Algo Trading API Calls
« on: February 23, 2018, 12:09:49 pm »
Quote from: xeroc on February 22, 2018, 07:19:56 pm
Just a matter of time until soneone sets up a bot that does sophisticated orders like stop-loss etc ...

A quick win could be to add support of Bitshares DEX to this: https://github.com/DeviaVir/zenbot ...

49
General Discussion / ETF on Blockchain
« on: February 23, 2018, 11:11:51 am »
Hello,

I just wanted to share with you that my team won  this Hackathon.

Our idea was to showcase how in two days you can build a tool to create, issue and sell on the market an Exchange Traded Fund.

As you might expect, we used Bitshares "financial platform", in a similar way than Bit20.
 
This way the solution gives the below benefits over the established situation:
  • A time to market of less than 10 minutes, where it currently takes more than 6 months to banks;
  • More transparency on collateral management and fees;
  • No counterparty risks.
  • A smooth user experience

In those two days we have built:
  • an ETF management server to interact with the blockchain;
  • a Price feed batch to publish the ETF price;
  • a white labeled version of Bitshares Decentralized Exchange UI;
  • an interface to manage ETF compositions

We used ETF products as an example, but variations could be done for many other structured products and mutual funds.

All the public information is here
 (sorry no code, nor video of the presentation)

The demo has been done on the testnet (see ETFDEMO asset).

The proof of win.

Note that as of today this was only a Proof Of Concept for the Hackathon, there is no plan (yet?) to build business on top of Bitshares.
But the idea has been spread to the 100 attendees (including top management), and more to come.


My personnal feeedback, is that even for people working around blockchain topics in finance, Bitshares is not in the radar. There is a HUGE communication efforts to do, especially to IT (top) managers and Business Product Owners. We are sitting on a gold mine, future competition estimates it can brings £1.9bn of savings.

Feel free to contact me if you want to discuss the topic.

Also we would like to thank you all as our small victory wouldn't have been possible without you, especially @xeroc for the whitepapers and @EstefanTT  for Bit20.

50
General Discussion / Re: [BlockchainProjectsBV] First contribution to bitshares-core - claim BTS fee pool
« on: January 15, 2018, 01:50:44 pm »
Quote from: Brekyrself on January 15, 2018, 02:27:50 am
How do we spread the word developers can be paid by the blockchain?!  The money is there, we just need the talent.

A nice post like this could help:
  - https://blog.decred.org/2017/07/25/Decred-Recruiting/

We should officially clarify:
   - that bitshares is effectively hiring
   - what positions are open / wanted.
   - what contributions are wanted (BSIP, "help-wanted" tag in github, page with a list of ideas, documentation, ...)
   - how you can already contribute (UI worker, witness, etc...)
   - how works the hiring process (worker proposal, guidelines to get voted in, etc..)

It should be posted by the spokesperson and then we should share the word.

Incoming Graphene Conferences are also a good forum.

Another idea is a "Build Challenge" like this: https://www.stellar.org/blog/build-challenge/ + https://www.stellar.org/developers/guides/things-to-build.html

I also like this page which is more clear than most of the pages we have for bitshares:  https://www.dash.org/governance/

51
General Discussion / Re: Why is Current Supply not equal to the sum of all Margin Positions?
« on: January 11, 2018, 12:44:05 am »
It seems that the UI only display the 300 earliest position to be called.

The request made by the UI is:
    {"method":"call","params":[2,"get_call_orders",["1.3.121",300]],"id":32}

The documentation of the API:
  http://docs.bitshares.org/api/database.html#_CPPv2NK8graphene3app12database_api15get_call_ordersE13asset_id_type8uint32_t

The code:
  https://github.com/bitshares/bitshares-ui/blob/master/app/components/Blockchain/Asset.jsx#L105


 

52
General Discussion / Re: Options and Futures contracts
« on: January 02, 2018, 05:41:58 pm »
Quote from: Gleepower on January 01, 2018, 10:53:09 pm
I can't see directly tho how you recreate a european option from an MPA.

Let's say I want an Option on Bitcoin @ 15000$ at maturity 31/01/2018.
 
I had in mind a price feed like this:
Code: [Select]
if today <= maturity (31/01/2018)  then
    price_feed = max(bitcoin_price_in_usd - 15000, 0)
else
     price_feed = 0

At MPA issuance I will:
   -  put bitUSD as collateral (but it will work also with BTS, or bitBTC if I adjust the rate of the feed).
   -  put a feed publication rate of one hour, but any rate will work,
   -  put a short delay for force settlement like 1 minute.

Anyone will be able to borrow and sell  the Option on Bitcoin@15000$ to the price (aka strike) they feel right (using their prefered pricing model).
If I buy this option I will be able to take some profit if the Bitcoin price goes higher than 15000$ before the maturity. Afterwards it will be valueless.
This will enable leverage trading, and hedging.

I suppose there are various issues when the price_feed = 0 that will make this solution invalid.
One of those is that anyone can borrow the option without any collateral, a fix could be to set a minimum collateral value.

A similar setup could be done for futures, but we need to avoid any settlement before maturity, and force settle all the futures at maturity.

Do you think somethink like this makes sense and could work?

53
General Discussion / Re: Smart Coins - Where are we headed?
« on: December 29, 2017, 10:37:35 pm »
Interesting question, and it will be good to have a shared vision on that.

 I'm relatively new here but I would say:

 - focus shareholders efforts and marketing on some key smart coins such as bitUSD, bitCNY, bitEur, botBTC, bitGold to get liquidity on them
  - attract private business/company to issue others and let them pay for issuance  liquidity and marketing.

What do you think?

 

54
General Discussion / Re: Options and Futures contracts
« on: December 29, 2017, 10:16:27 pm »
I'm interested in this topic too.

More specifically on how to implement then.

I think it might already possible to do  some kind of European style option with cash settlement with the proper configuration of MPA and a custom price feed.

May be this has already been discussed?

What kind of underlying do you imagine? Crypto or stock/commo/... ?

55
General Discussion / Re: Newbie question
« on: December 29, 2017, 10:06:28 pm »
I don't use the android wallet but the documentation says you should be able to trade:

Main features:

...

Exchange:
1.Sell/Buy BTS and other smart coins easily
2.Check the SELL ORDER and BUY ORDER
3.Check your open orders


If you can't find how you can contact them:
Telegram: https://t.me/btswallet
Mail: bituniverse2017@gmail.com
Twitter: https://twitter.com/bituniverse_org

Otherwise you can trade in all the web interfaces (they are all connected to the same exchange: the Bitshares Decentralized Exchange, and can access your wallet):
 - https://wallet.bitshares.org
 - https://openledger.io
 - https://crypto-bridge.org
 - https://www.gdex.io
 - https://rudex.org
 

56
General Discussion / Re: A Fee Backet Asset to support Bitshares integration with Open Bazaar?
« on: December 29, 2017, 09:47:26 pm »
Quote from: chamber on December 29, 2017, 05:36:16 pm
Quote from: zapata42 on December 29, 2017, 09:56:42 am
FBA is a lot more complicated to implement and requires additional work on top of the integration of Smart Assets in both bitshares and openbazaar. So I think it will cost much more to shareholders, and from fav answer I suppose we are not ready to pay a lot for that. I'm not convinced this complexity worth the effort. We should Keep It Simple, Stupid (https://en.wikipedia.org/wiki/KISS_principle).

I suppose you don't have the developper in charge of the implementation yet. So what we need is to be able to go to the OB community and say, "Bitshares is ready to give you X  (bit)USD and help you integrate SmartAssets". This is what I call a bounty and is a special type of worker: a worker with a multisig escrow account, that will release the funds when the implementation is finished.
In your worker proposal you can spread the "bounty" in mulitple tasks: specification, implementation,  management.

* nods *  Yeah, a bounty / worker as you described seems to be the way to go for right now.  I thought FBA's actually existed as they were originally spec'ed, with a working example (the STEALTH token).   
"

Bitshare guru will correct me if I am wrong, but I think there is no easy way to create a FBA currently. There is no UI for it, so it needs code, and it changes the consensus algorithm (= voted hard fork).

57
Technical Support / Re: Withdraw & Deposit Dollars from Bitshares or leave them there forever?
« on: December 29, 2017, 09:39:01 pm »
Hello,

Welcome to bitshares.

Your question is similar to this one:
https://bitsharestalk.org/index.php/topic,25651.0.html

Currently BTS is mainly a crypto investment.

Like other crypto you can use it as a currency to exchange value with other poeple that see value in it, but it has some unique features such as:
  - it gives you voting power to govern the Bitshare Decentralized Autonomous Company;
  - it allow you to pay fees to use the Bitshare Decentralized Exchange
  - it is used as collateral to borrow smart assets like bitUSD, bitEUR, bitCNY, ... Which allow you to get some leverage to invest even more in crypto. (Use this feature with caution it is risky).
All those usage makes BTS unique and worth hodling.

If you want to start a business may be the smart assets (bitUSD, bitEur, bitCNY, ...) are better for you as they have all the nice properties of crypto, plus they have a stable value.

To convert to FIAT you should currently  get out from the DEX and go through a gateway who usually use BTC/ETH/LTC.
On the DEX the only gateway to FIAT is Openledger but it is currently down. More gateway are coming with Bitspark, and OCASH (should be the same as openledger). Note that for bitCNY there is already MagicWallet.


58
General Discussion / Re: A Fee Backet Asset to support Bitshares integration with Open Bazaar?
« on: December 29, 2017, 09:56:42 am »
Quote from: chamber on December 28, 2017, 06:05:44 pm
Quote from: zapata42 on December 28, 2017, 09:36:02 am
I'm less convinced by the Fee Backet Asset idea.

Why not offering a bounty paid by the reserve fund for the integration of Smart Assets in Open Bazaar?

If a bounty can get it done better that's cool with me.  I suggested a FBA because that seemed like it would be more appealing to the people putting up the money.   Why do you think bounties rather than FBA's would work better?

FBA is a lot more complicated to implement and requires additional work on top of the integration of Smart Assets in both bitshares and openbazaar. So I think it will cost much more to shareholders, and from fav answer I suppose we are not ready to pay a lot for that. I'm not convinced this complexity worth the effort. We should Keep It Simple, Stupid (https://en.wikipedia.org/wiki/KISS_principle).

I suppose you don't have the developper in charge of the implementation yet. So what we need is to be able to go to the OB community and say, "Bitshares is ready to give you X  (bit)USD and help you integrate SmartAssets". This is what I call a bounty and is a special type of worker: a worker with a multisig escrow account, that will release the funds when the implementation is finished.
In your worker proposal you can spread the "bounty" in mulitple tasks: specification, implementation,  management.

59
General Discussion / Re: Lifetime Membership fee
« on: December 29, 2017, 08:59:59 am »
 +5%

60
General Discussion / Re: bitUSD to USD
« on: December 28, 2017, 09:40:33 am »
I think you have to go through your prefered liquid crypto (Bitcoin/Litecoin/Ethereum) and favorite centralized gateway (Coinbase, Uphold, CEX.io, ...).

A decentralized alternative is Bisq (https://bisq.network/), never tried myself.

Eventually this will work: http://localbitshares.com/

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