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Messages - JohnR

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46
Today I formally announce my intent to join the BitShares Committee. 

As a reminder: the Committee is approved by stakeholders and formally tasked with setting policy for the BitShares blockchain including:

Transaction and trading fees;
Blockchain parameters, such as block size, block interval; &
Referral and vesting parameters such as cash back percentage and vesting periods.

I discovered the Graphene-based chains last summer.  I was hooked.  I watched every public video with Dan Larimer talking about the potential for BitShares to revolutionize finance (BitShares TV: https://www.youtube.com/channel/UChtICzF0ZEhhgoMA8YWhULw/videos is a great resource for those new to the platform or interested in its beginnings).  For months I could not shake the question of why BTS had yet to have a bigger impact.

This lead me to become more active in the community.  Joining the Discord and Telegram channels where I met great individuals like Kimchi-King, Fav, and Fuzzy.  On BitShares hangouts and in the chat rooms I listened to the community and began taking more upon myself to contribute.  I identified two areas where I could bring value: network infrastructure and legal perspective. 

As many of you know Bittrex, halted trading in BTS in the fall of 2017.  This opened my eyes to the serious challenges facing a DAC like BitShares.  In many ways BitShares is vulnerable to adversaries in the real world who have not the time nor interest in understanding what we are doing here.  I believe this network can thrive and prosper within the current system of national boundaries and jurisdictions.

My platform principle is the support and sustainability of smartcoins on the DEX.  Native trust-less assets with autonomous and sound collateral ratios (e.g. bitUSD) remains one of the core advantages BitShares holds over the rest of the crypto world.  I will strive to foster innovation for new smartcoins and collaboration and support for existing smartcoins.

I hope to join the Committee and help the community make the most of every person working to make BitShares realize it’s full potential.  Thank you.

47
Stakeholder Proposals / Re: Smaller Worker Funds
« on: June 27, 2018, 04:01:14 am »
Great idea.  I think with smaller amounts, an executive manager is an acceptable compromise between decentralization and autonomy.

48
Stakeholder Proposals / Smaller Worker Funds
« on: June 27, 2018, 01:33:32 am »
I spoke with Kimchi-King about this today.

Worker proposals are critical for getting things done around the BitShares DAC.  BitShares may be missing out on good work for the network with vote requirements as high as 300 million bts.  My suggestion is to have a lower bullpen of workers with lower vote requirements and lower amounts of funds.

Consider you want to print and spread flyers featuring all the great information about BitShares in your local town. This is exactly the type of action that would benefit each holder of bts and can be rewarded with treasury bts. This individual is unlikely to organize a coalition of bts voters to reach the 300 million or so bts votes required to pass a worker proposal. If the supplies for this activity cost only $10 then the individual is faced with the choice of eating the cost themselves (as many on the chain do now) or giving up the activity completely (unknown how many BitSharians were lost as a result of this structure).

What do people think of this idea? 

How could this be implemented in the best way.  Long term (with community support of course) probably a separate pool in the interface and everything.  Looking forward to hearing your thoughts.

John Robert

49
This is great to hear Kevin.  Everyone, kimchi-king is a discord mod and was very helpful when I first discovered Bitshares.  Huge asset for the community who deserves everyone's support.

50
Would be happy to publish price feeds (and of course submit for white-list) but I would like to study the pricing mechanism you use.  Is there anyway to view this?

51
First of all - I think this is a great project that is not getting nearly the attention it deserves.

I would love to help arrange more price feeds for greater stability of these coins.

Is this how you've done all the other tokens you listed (with donations)?  I have associates very interested in working with you in a business capacity on this project.


52
General Discussion / Re: Shares of Nasdaq&NYSE at Bitshares
« on: June 05, 2018, 02:12:35 pm »
I have seen these on DEX and think it is a great project.  It is great to see a financial institution mixed in (maybe AliBaba has a financial arm but I did not research that).  How can we support this project?  How do you calculate price feeds?


This is an interesting idea.  I support it.  Is this the first smartcoin tracking a financial institution's equity price?



At the moment on the Bitshares Exchange traded 15 smart assets Derivatives for the shares of Nasdaq and NYSE
AMAZONCOM
FORDCOM
ALIBABACOM
VISACOM
BOEINGCOM
MCDONALDSCOM
MICROSOFTCOM
STARBUCKSCOM
NETFLIXCOM
TESLACOM
CISCOCOM
APPLECOM
EBAYCOM
BAIDUCOM
FACEBOOKCOM

The feeds for smart assets - Nasdaq and NYSE shares publish two account:
nasdaq-bts
nasdaq-fb
Feeds publish every 15 minutes

The account escrow-bts sends out to 0,00001 coins of each smart asset for the promotion of derivatives trading

53
This is my interpretation as well.  Clearly we are involved with bitshares for its ability to afford us individual autonomy.  This includes not only individuals but also firms and organizations.  I think the motivation of this post is to:

1) announce the intentions of another real-world organization to advocate for bts holders IRL; &
2) accomplish this with full consensus.  Not only from holders but from their prospective colleagues BBF. 

 I hope BBF offers their blessing on this collaboration.  But most importantly I hope that both entities work for the ultimate benefit of bts holders.

I think the language barrier is strong here and misunderstandings may be caused. :)

The way I read it (and as a non-native english speaker myself I have a lot of experience deciphering non-native english) is that the offer is simply one of collaboration.

Basically DL and the Move Institute are saying:

This is who we are, this what we do/what we've done, this is what we would like to do.

Would the BBF like to collaborate on these and share resources, responsibilities (considering for example bitshares.org ownership)  as well as tools and know-how in order to pursue a common way forward rather than having uncoordinated (and possibly accidentally competing) efforts?

At least, that's how I understand it (DL can correct me if wrong) and I'm also very glad to see coordination attempts between initiatives.

Judging by the actions taken and the work done by DL/apasia so far, I hope that this cooperation works out.

54
That is a good point about separating .org (for general knowledge and presenting bts in factual/neutral way) and exchange (more sensitive for certain regulatory authorities).  While I think the community and officials can adequately inform the public about the distinctions (protocol vs dapps), best not to invite skepticism before it can be handled in thoughtful manner.

$10k just for the domain bitshares.exchanges is way to expensiv.

I don't see a single dime spent on real marketing .

A simple domain name like bithsares.exchanges brings nothing if it won't be promoted so i can't see the value of $10k for that domain.

I also don't understand why nobody else is stepping in and asking why the domain is so overpriced as it basicly has no value
i asked the same question here https://bitsharestalk.org/index.php?topic=26167.msg317163#msg317163

@xeroc had statement that domain is purchased directly from the owner - that mean it was not available for regular public sale. It's nothing strange, since I personally know the guy who acquired openledger.exchange for that same purpose -> Reselling it to well known, and potentially interested party in the future.

From another perspective, being someone involved in legal matters around having BitShares in Slovenia and Thailand... separation of Wallet from original bitshares.org in manners such as bitshares.exchange/s can be legally very bold move, helping bitshares.org to present blockchain and technology ONLY, leaving .exchange as independent dApp driven by Community.

Just my thoughts on this, that's all.

55
General Discussion / Re: Shares of Nasdaq&NYSE at Bitshares
« on: June 05, 2018, 02:59:11 am »
This is an interesting idea.  I support it.  Is this the first smartcoin tracking a financial institution's equity price?


The derivatives-dex account is hereby invites the community to support the launch of the derivative for Deutsche Bank shares.
Feeds will be publish every 15 minutes by accounts nasdaq-bts and nasdaq-fb.
The account escrow-bts will be distributed to 0.00001 DBCOM (Deutsche Bank shares)  to reach 100 thousand owners.
The cost of launching the derivative for Deutsche Bank shares is 1500 BTS

If you want to support the launch of the derivative for shares of Deutsche Bank - transfer 1500 BTS to derivatives-dex account



(If you want to publish feeds for smart assets - Nasdaq and NYSE shares, please specify the name of the account and you will be added to the white list for feeds.)

56
Great point to reiterate.  Every vote matters.  Every voice/opinion matters.  I think there is room for more than one organization to advocate for the bitshares platform in the real world.  Especially with some linguistic and geographic diversity and decentralization as is the case here.

Taco, 

I believe DL is reiterating that while this project seeks to support the bitshares network no matter what, it does not represent the community without an explicit vote of approval. 

In political science this phenomenon is known as "mandate".  The way in which democracies select their representatives.

More background - https://en.wikipedia.org/wiki/Mandate_(politics)
In particular-
"The concept of a government having a legitimate mandate to govern via the fair winning of a democratic election is a central idea of representative democracy. New governments who attempt to introduce policies that they did not make public during an election campaign are said not to have a legitimate mandate to implement such policies."


Thanks John. Some may say BitShares is not a true democratic Governance system because some individuals have more say.  Nevertheless, every vote COUNTS, and nothing goes without mandate (voting).  BTS has separation of powers like modern sovereign nations - Governance (Witness, Committee, Proxies)... Pretty much Democracy from the school book.

So yes, we seek approval and acknowledgement from its current elected Government and People of BitShares.

57
Taco, 

I believe DL is reiterating that while this project seeks to support the bitshares network no matter what, it does not represent the community without an explicit vote of approval. 

In political science this phenomenon is known as "mandate".  The way in which democracies select their representatives.

More background - https://en.wikipedia.org/wiki/Mandate_(politics)
In particular-
"The concept of a government having a legitimate mandate to govern via the fair winning of a democratic election is a central idea of representative democracy. New governments who attempt to introduce policies that they did not make public during an election campaign are said not to have a legitimate mandate to implement such policies."



I think that it is excellent to have another party that can manage escrow of worker proposals, and possibly other endeavors.  I welcome this effort.

Yet there is a part of the release that is very unclear to me

Our primary focus is drawing upon all the principles and needs of having such foundations, bringing more true meaning and concept of decentralization. Zavod Premik Institute will empower the Community and extend the original BitShares Blockchain Foundation mission objectives:– to grow, promote, and advocate the BitShares Blockchain worldwide, in full spirit of the original Distributed Autonomous Community (DAC), and in doing so, grow and build the powers of the BitShares Ecosystem in full collaboration, if BitShares Blockchain Foundation choose to accept this offer.

What is the offer?

The Institute can pursue any of these goals independent of the BBF and the stakeholders.

58
Decentralization in action. 

This is a good opportunity for the community to consider how precisely a "Foundation" should serve the community.  No one needs to be told that real world entities are different than bitshares native entities. 

This last sentence says a lot about the organization presenting.  It is important to remember that bts holders are controlling the decision-making.
 
"
BTS stake-holders are the decision makers around BitShares Blockchain by their vote, and that, neither the BitShares Blockchain Foundation, nor the owner of any domain related to BitShares (including bitshares.org) will never have the authority to outweigh such decisions."

59
General Discussion / Intergalactic Bitshares Federated Gateways
« on: March 24, 2018, 01:11:54 am »
I think the bitshares holds great potential if the community recognizes it as a protocol layer that can support gateways to organize their own exchanges and limit order books.  I think the term "Federated Gateways" is a very appropriate way to describe the economic relationship between the bts protocol and third party service providers.  The value of bitshares grows for every new user these third-parties bring to the DEX.  On the other side, because of their association with Bitshares, the stakeholders should have a way to monitor and issue public statements on governance issues when it comes to third parties and dispute resolution.  That can come in due time.

To start, what are your favorite gateways for the Intergalactic Federation of Gateways?  Any ones you see as providing something unique or particularly valuable?
- Open Ledger
- GDEX
- Crypto Bridge
- RuDex

60
While I'm glad that this was able to be approved so quickly I think it would be wise to establish some metrics for how successful this fee implementation will be.  How can we assess whether this fee change helps or hurts the bitassets markets?  As it appears to me having a fee to sell bitUSD/CNY seems like a pure windfall to those incumbents who have built up a large short position.

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