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Messages - JohnR

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General Discussion / Re: Cn-vote union question and answer
« on: September 15, 2019, 01:47:58 am »
Hello, thanks for writing this thread.

What is your opinion on third party exchanges voting with BTS deposits?


General Discussion / Re: Vesting Balance Leaderboard
« on: September 01, 2019, 08:32:28 pm »
We, as human beings, are unlikely going to create a utopian non-gameable system. We can at least make a system that is less bad.

General Discussion / Re: Pump100k
« on: September 01, 2019, 08:31:34 pm »
Considering BTS is supposed to be a permission-less system what's the issue?

General Discussion / Re: suggestion on new OMO fund
« on: September 01, 2019, 07:48:57 pm »
I would like to offer @bitcrab the chance to make a clear case for the objective of the OMO.

People are skeptical because it lacks a clear vision. Is it to maintain liquidity? Is it to pump the price? Anyone with a basic economics understanding can make a market.

Bringing this up after workers voted out gives the appearance that our largest stakeholders care about price > growth. This is a way to guarantee BTS long term value decreases.

I would like to believe the voters have the best intentions at heart. But we can't just fire employees and say now is the time for pumping our bags. That is like Wells Fargo CEO getting mega bonus after axing staff. The exact opposite principles of a DAC.

General Discussion / Vesting Balance Leaderboard
« on: September 01, 2019, 07:22:50 pm »
I am distressed by the recent division within the BitShares community. I am motivated to continue contributing and helping realizing the BitShares vision of granting financial autonomy to anyone with an internet connection. This is a good opportunity for everyone here to focus on what we have in common - the BTS core token and the network operations it enables.

Up to now, the network incentives reward large and sometimes aggressive collateral positions. Obviously this is one reason why BitShares of all cryptoassets is one of the most volatile as leveraging follows de-leveraging in cyclic patterns. I would like to see attention paid to another variable: vesting balances.

A high vesting balance, as opposed to a high collateral position, implies a high degree of interaction with the network. Whether that be offering liquidity in the form of limit orders or other creative transfer operations.

To shift attention towards this important metric I think it would be a good idea to establish a vesting balance leaderboard or other vanity display for accounts to compete for recognition as engaged users with the network. Maybe even down the line we can offer additional economic incentives for carrying high vesting balances (e.g. vote multiplier or any other ideas?).

For example one of our business accounts ( carries a vesting balance of almost 600 BTS in addition to other assets that have market fee sharing enabled (bitCNY/USD and Gdex assets). Yet this pales in comparison to some of the more active accounts (

I believe that using the network operations and holding a high vesting balance should be a point of pride for stakeholders. I think we should encourage and recognize the behavior. Keeping open the potential in the future for even rewarding critical users.

Thanks for reading. In the depths of darkness we discover true character.


General Discussion / Re: Options. News and Information
« on: July 28, 2019, 08:28:49 am »
Is this a prediction market and what feeds have you organized to date?

Interesting tool if this gets working. Useful tool.

Thanks abit. Seems reasonable that worker funds considered income in the conference budget.

Good luck with this endeavor. Hope you can champion Graphene technology to new audiences.

Given one of the reasons for returning to 1% offset is to return it to same status as the others, presumably there was a reason to deviate in the past.

Bitcrab would you please comment on those conditions generally and if you believe they are unlikely to return please comment on why? Thank you.

Nice looking application here. Please keep it up and I hope the community here supports you.

Regarding the BEET integration.. Does the wallet not already store private keys? What features can BEET add that stored keys does not already?

Does this utilize vesting balances as referrals currently do? Note vesting balances are currently only denominated in BTS, not bitCNY or bitUSD.

I think a sponsorship similar to last year's would be a good investment for the DAC. I think it's good for BTS to have a sponsorship presence in the three largest markets of BTS holders (Europe, East Asia, North America).

Conference sponsorship is a type of marketing. Though maybe people are thinking we should market more to non-crypto users. That will be tough to get people from no crypto to BTS. The natural progression for most people is no crypto - BTC - BTS.

General Discussion / Re: Developing a bitAsset research program
« on: June 02, 2019, 09:16:41 pm »

In auction theory there is a bizarre fact called the "revenue equivalence theorem," which basically says that every possible auction mechanism earns the same revenue on average unless it's a deliberately stupid mechanism (such as awarding the object completely at random). The reason this is true is that if you have an auction that normally earns X revenue, and then you change some particulars of your auction mechanism to try to get more revenue out of it, the bidders will adjust their bids accordingly and once they equilibrate you'll still only get X revenue.

Do you think the revenue equivalence theorem applies between Dutch and double continuous auctions (where both buyers and sellers post bids to exchange)?

Do you have any thoughts on Gnosis' new market structure?

Thanks for your interest. BTS can benefit a lot from formal research and peer-review.

中文(Chinese) / Re: 比特股社区“百城百店”
« on: June 02, 2019, 03:21:11 pm »
Thank you for this message. It sounds like bitstocks is doing great things. Congratulations on your success.

Going to review this again with a translation. (to be edited)

General Discussion / Re: Developing a bitAsset research program
« on: April 28, 2019, 09:54:46 pm »
Thanks for the post and thoughtful proposal. Academic/institutional peer review is important for BitShares development credibility.

I also echo abit and ripplexiaoshan - there is abundant arm-chair economic analysis surrounding bitassets now - where would you focus your work specifically?

Also "Doc Brown", not lost on me.

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