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.


Messages - phoenix

Pages: 1 ... 5 6 7 8 9 10 11 [12] 13 14 15 16 17 18 19
166
General Discussion / Re: Thanks for the news letter Stan - but help im lost!
« on: December 05, 2013, 03:58:29 pm »
Quote from: bytemaster on December 05, 2013, 03:36:58 pm
Quote from: stuartcharles on December 05, 2013, 02:31:37 pm
Thanks for your replies HackFisher and wngdng77. My real point is this is hard to keep up with for those that are not able to spend an hour or moor a day dedicated to this forum and that a thread with bullet points of where we are now would keep investors with little time both happy and keen to invest moor not sell.

Do you agree with me on that?

We are working with Brian and Super3 to boil our message down to something simple...  as you can tell we have a very open development model and share our ideas as fast as we can.  Clarity takes time.   A normal company would spend months planning a simple message and then releasing it in a controlled way.  We have basically given out the rough draft.

Personally, I'm a big fan of this openness. I'd rather have a rough idea of what's going to happen, then keep up with the updates on the project than have to wait for the final press release to have a clue about what's going on

167
BitShares PTS / Re: The Intrinsic Value of Protoshares (Update from Bytemaster)
« on: December 05, 2013, 03:48:26 pm »
Quote from: bytemaster on December 05, 2013, 07:27:30 am
Quote from: smiley35 on December 05, 2013, 07:21:33 am
Quote from: Lighthouse on December 03, 2013, 05:23:51 pm
Quote from: MrJeans on December 03, 2013, 05:15:49 pm
Quote from: Lighthouse on November 13, 2013, 09:24:06 am
Quote from: bytemaster on November 13, 2013, 05:24:37 am

4) There will be many BitShares based chains, not one, and all of them will be 1:1 with ProtoShares

What is meant by 4) above. Are we talking about the different alt currencies that will be pegged to various fiat currencies or commodities (like BitUSD or BitGold)?

No, they're saying that in the future the ratio might be different than 1:1 - So there might be examples where for every 10 PTS you have you get 1 of the new chain (1:10), or for every 1 PTS you have you get 100 of the new chain (100:1).

Things could change with unannounced chains, they're leaving their options open to experiment.

I believe it is actually the opposite. They are saying PTS will always be a 1:1 ratio.

What we have said is that PTS will represent 10% of the money supply of new coins in the genesis block.

Will the other 90% come from mining?

168
General Discussion / Re: Global Weather Forecast and Archive
« on: December 04, 2013, 03:01:19 am »
This is a great idea, but figuring out what actually happened in a decentralized manner would be very difficult. If you have trusted feeds, then they become subject to manipulation. If you have people report what happened, then there will be incentive to skew the data.

169
General Discussion / Re: Safe Password Entry Practices?
« on: December 03, 2013, 10:32:06 pm »
In every entry system, there is always going to be some kind of flaw. Don't focus on the actual flaws in the system, focus on how difficult they are to exploit. As long as you make it economically unfeasible to exploit the flaws, the system will be safe enough

170
Keyhotee / Re: Screen Shot
« on: December 03, 2013, 10:27:43 pm »
Quote from: robozombie on December 03, 2013, 10:19:37 pm
Quote from: Stan on November 26, 2013, 01:31:23 pm
Quote from: Sy on November 26, 2013, 10:00:43 am
Is Keyhotee forked from PTS? And if so, how can you use your PTS to credit your id if you have to mine them aka different private keys...

Keyhotee is an application for secure interaction with people and DACs.  It does not have a tradable currency itself, but it will have a wallet for managing other currencies.  Its underlying block chain is for storing free Keyhotee IDs where just a little proof-of-work mining in the  background secures your free ID for a year.  As a user, you don't even have to think about this.  As long as you run Keyhotee about a day per year, your free ID is renewed.  If you get hit by a bus, your free ID name (not your associated private information) becomes available for someone else to claim after one year of no use.  IDs are not transferrable so there is no motivation to reserve names you don't plan to use.  Keyhotee Founder IDs, however, never expire.
Are the founders IDs the only ones that will be on sale, Stan?

Only founders IDs will be sold for PTS given in exchange for a donation of PTS to help support the development of Keyhotee and other Invictus DACs. Normal IDs will be mined out for a little bit of CPU power, which any normal user should be able to do on a home computer.

171
General Discussion / Re: Dividends 2.0 - A Simplified Implementation of Dividends and Honest Blockchains
« on: December 03, 2013, 09:17:44 pm »
Quote from: luckybit on December 03, 2013, 07:35:34 pm
The political currencies have to deal with that. These new currencies are decentralized and you don't know which one people will want but I highly doubt Bitcoin will remain in top demand. It's not like the dollar which could remain in top demand by force.

Bitcoin can't stay in top demand by force, but it can stay up through inertia.

172
BitShares PTS / Re: What is ProtoShares?
« on: December 03, 2013, 05:06:14 pm »
I'm pretty certain that you can just import your PTS wallet into the wallets for the future DACs, so you shouldn't need to dump the private key. If you want to get the private key for some other reason, you can just go to the console and type "dumpprivkey <your PTS address>" and it'll give you the private key

173
BitShares PTS / Re: What is ProtoShares?
« on: December 03, 2013, 05:02:05 pm »
Quote from: Gekko on December 03, 2013, 02:51:42 pm
Quote from: Stan on December 03, 2013, 02:41:47 pm
By George, I think he's got it!   :)
ProtoShares are an investment in an entire DAC product line - perhaps an entire DAC industry.

Thanks.  That means I'm rich.  You will get an invitation to my private island! :)

Will the primary industry on your island be DACs?

174
General Discussion / Re: Dividends 2.0 - A Simplified Implementation of Dividends and Honest Blockchains
« on: December 02, 2013, 10:43:12 pm »
Quote from: bytemaster on December 02, 2013, 10:41:54 pm
Divisibility is more important than supply.


Sent from my iPhone using Tapatalk

Yes, but people are more used to dealing with large amounts of money than very small units.

175
General Discussion / Re: Transactions as Proof-of-Stake & The End of Mining
« on: December 02, 2013, 08:57:23 pm »
Quote from: bytemaster on December 02, 2013, 07:36:58 pm
I am trying to determine if trx fees can be used as a metric to limit block production rather than mining difficulty.  Trx fees are paid as dividends and thus 'lost' and if you increase the minimum fee per block you would slow down block production just like increasing mining difficulty. 

Every transaction that cares about being confirmed rapidly would include fees.  These fees just serve to limit the production rate without waisting CPU power on mining.  The best chain is still decided by coin-days destroyed. 

You could then have a fixed 'minimum mining difficulty' used to determine settle cases where multiple people generate transactions at the same time.   So the process is, generate trx, add it to block, check to see if min fee has been reached, if so hash block, and 1 in 100 chance that it will meet the minimum difficulty.   

So now the higher the transaction fees the more expensive it becomes to generate empty blocks and alternative chains.   

Just some thoughts, looking for feedback.

So every block needs to have a minimum amount of transaction fees. Wouldn't this cause block production to slow down when transactions slow down?

176
Technical Support / Re: basic mining question
« on: December 02, 2013, 06:07:45 pm »
If you're just solo-mining on a single home computer, you'll need a lot of luck to find a block. You should join a mining pool if you want a steady income: http://bitsharestalk.org/index.php?topic=168.0

177
General Discussion / Re: WeTube DAC - decentralized media provider - the future YouTube
« on: December 02, 2013, 03:06:52 pm »
I think there should be relatively equal rewards for mining and writing papers, as long as the mining is actually helping the network. If the mining was just POW, without accounting for network contributions, then I would say that rewards should just be for writing papers.

178
BitShares PTS / Re: [Megabounty Thread] Help Us Write the Protoshares Copy
« on: December 02, 2013, 02:57:09 pm »
DACs are like an army of computers all working together to provide some service for their customers. If some computers try to manipulate the services offered, or deny service to some customers, the good computers will be able to continue on, ignoring any attempts to manipulate the DAC.

DACs are designed so that there is far more incentive to help the DAC than to hurt it. Because of this, you can be sure that only a handful of people would ever try to cheat, and even then, only for a very big reason.

DACs are like a group of friends helping you out. Even if some of them try to cheat you, the other friends will catch on and ignore their work. All you see is the final result, which is always trustworthy.

179
General Discussion / Re: Dividends 2.0 - A Simplified Implementation of Dividends and Honest Blockchains
« on: December 02, 2013, 02:46:01 pm »
So, is this just a way to help users more easily visualize their gains from dividends, and their losses from inflation? As well as make things easier for you to code?

180
General Discussion / Re: Why Dividends?
« on: December 02, 2013, 02:41:34 pm »
Add together all the Bitshares that are created in a given block and all the transaction fees. Half of this goes directly to the miner, then the other half of this is distributed among the holders of Bitshares. So, if you own 1% of all Bitshares, you will get 1% of the dividends

Pages: 1 ... 5 6 7 8 9 10 11 [12] 13 14 15 16 17 18 19

Page created in 0.202 seconds with 23 queries.