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Topics - bitmeat

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General Discussion / PTS -> BTS ratio?
« on: October 23, 2014, 12:38:20 am »
So how many BTS will 1 PTS get? Has that been decided and set in stone by now?

General Discussion / [VIDEO] I3 Handling the Merger...
« on: October 22, 2014, 08:02:43 am »
Here is a video of Bytemaster himself, and how he decided the fate of AGS/PTS holders:

What is a DAC? A is for autonomous. Meaning all decisions need to be vetted by the stakeholders NOT I3.

There is nothing "autonomous" about how any of this is handled. So I turn to humor at this point.

General Discussion / Can someone familiar with matters clarify vesting.
« on: October 22, 2014, 07:09:53 am »
BM claims that vesting was known from the very first proposal, but details are murky and changing on a daily basis. (originally was 6 months)

Let's say someone has PTS that equals 100 BTS post merger (when fully vested). My understanding is that vesting is gradual over the next 2 years.

Let's say 6 months pass from first day of merger. So that's 25% vested. Does that mean that if that someone sells their vested stake they will only get 25 BTS, and the other 75 BTS will be lost (basically burned), or does it mean that they can only sell 25 BTS, but once the 2 year period is over, they will still be able to sell the other 75 PTS?

I really hope it is the latter, because it just doesn't make sense to do the first.

General Discussion / IMPORTANT: Vesting
« on: October 22, 2014, 01:05:37 am »
I didn't quite understand why the vesting is necessary. But it seems that the move has shafted PTS holders.

I propose, if vesting is absolutely necessary, to at least start the vesting from amount higher than 0% (current proposal by Bytemaster)

KeyID / Exchanges?
« on: October 03, 2014, 01:42:05 pm »
Let's have people post here as soon as exchanges enable DNS for trading here. I thought they'd do an IOU as they did with BTSX.

By the way what would the symbol be? Is this under Bitshares brand? BTSD? BDNS?

Just DNS?

I'm still seeing 30K BTSX difference.


Code: [Select]
ACCOUNT                         BALANCE                     
*****                             31,175.79130 BTSX           
                                       284.2744 USD           

Code: [Select]
TIMESTAMP           BLOCK     FROM                TO                  AMOUNT                  MEMO                                        BALANCE                 FEE                 ID     
2014-09-02T23:47:27 384594    ASK-***        ***                  31,061.90000 BTSX       cancel ASK-***                         61,874.99103 BTSX       0.10000 BTSX        be4e7bf5

KeyID / [DNS] In a nutshell?
« on: September 02, 2014, 08:01:50 am »
So in a nutshell will BDNS work like this?

- each domain registration attempt will initiate an auction
- auctions will last some period of time (30 days?) or until there are no more bids for some period of time (like 24 hours to make sure all time zones get a decent chance to bid?)
- registration fees from winner are burned to reward investors
- renewals new auction or min fee decided by the network?

Anything I'm missing?

General Discussion / Huge (obvious) opportunity
« on: August 31, 2014, 08:06:14 am »
Crowdfunded projects, would benefit from hedging portions of their BTC in BitUSD.

In fact - if I was the guys at Ethereum, I would definitely want to hedge some of that 30,000 BTC. $15M could easily drop down to half of that if kept only in BTC (the opposite is also true).
That said, they could just convert to fiat, but it's kinda like taking a stance against crypto, when that is done.

Explaining how that works from legal/accounting perspective will be beneficial to those who like the idea, but are unsure how it would work in reality.

Technical Support / Wallet import crashes, older imports lose balance.
« on: August 30, 2014, 05:29:19 pm »
So I backup my data folders and my wallets religiously before/after each update.

With the new version, I can download sync/etc but only with a fresh install/clean data folder.

However trying to import the wallets crashes the system completely.

Someone said that wallets are deterministic and you can never lose the information, so long as you have the private key and the password.

So I figured ok, tried to import an older wallet - voila it didn't crash... HOWEVER I see 0 balances, and transaction show as sent to "UNKNOWN".

Given that I have the JSON from before that happened, could that still be used somehow to recover these UNKNOWN transactions?

Also, what about the people who ONLY exported the "bad" wallet ( I think this started in 0.4.8 )

General Discussion / Where have all the bids gone?
« on: August 27, 2014, 12:10:47 pm »
Can someone explain, how come all the purchasers of BitUSD disappeared?

Here is a theory of mine...

BitUSD has total supply of 100B. Which means BitUSD could never really be more than 50 BTSX, since supply of BTSX is 2B.

That means that any BitUSD short above 33.3333... are relatively safe. BTSX should never really hit a margin call by design (unless some spike in the system occurs).

Now go down a notch - for shorts at 22.222222... BTSX their margin call is at 33.3333.... But since 33.3333.... is like a sure short, then so is 22.222....

Wow! No wonder there are no BitUSD buyers, and BitUSD price is lower than it should be. So once BTSX rises to like $1B, BitUSD would be really stable. There is wishful thinking.

This thread is for people to post market inefficiencies. This effort should incentivize participants and help bridge the gap between all the instruments.

For example you can get pretty cheap BitUSD here as well:

Currently 1 BTC gives you $600 BitUSD. However market price for BTC/USD is $525. That's 14% above market price. Even with BitUSD inefficiencies, this is good.


First, everybody and their mom got all too excited and shorted the heck out of BitUSD chasing that $1/BTSX dream all too soon.

Right now BitUSD is at a big discount - incentive to buy.
All of that happened at the same time, so right now around 31BTSX/BitUSD there is a margin call frenzy waiting to happen. Once it happens, it should generate a huge short squeeze, effectively correcting BitUSD to where it needs to be.

2. Then up we go...

If BTSX starts getting embedded even in small time businesses, it can not be too low.

With a limited supply of BTSX, imagine $10M trying to convert USD -> BTC -> BTSX -> BitUSD. Do you know the crazy amount of margin people would have to put to short 10M BitUSD?

Furthermore this will drive the price of BTSX up. Ideally we want a gateway USD <-> BitUSD, otherwise people won't like the fact that by the time it gets through the 4 steps they have run up the price of BitUSD.

I suppose they could do USD -> BTC -> BitUSD on something like BTER. That's a bit better.

Still though, the margin required for that kinds of BitUSD is insane.

At 20 BTSX/USD that means even if EVERY SINGLE holder of BTSX shorted BitUSD, you could only create $100M BitUSD. And not to mention that's just one assest.

Take a look at this

Look at the stats at the bottom. This is just FOREX traders who actually decided to register with this site their real accounts.

Avg. Deposit :   $77,973.88
Avg. Account Profit :   $27,688.4
Avg. Account Loss :   -$5,576.42
Total Funds :   $2,034,338,424.34

That's $2B from just FOREX traders, who don't even know if their MetaTrader brokers are fair to them or not (software is designed to actually screw them over)

Imagine $2B trying to trade within BTSX. The cost of BTSX just to handle the deposits would need to be close to $10/BTSX !!!

And to reiterate that's just FOREX. Stocks/bonds/futures/options.


Now, I still think we will see a BTSX sell off and BitUSD run up short squeeze simply because folks clustered their margin call at the same spot around 30-31 BTSX/BitUSD.

Disclaimer: Just my opinion... no idea what will actually happen, but will watch with great interest.

Technical Support / Wallet export/import compatibility issues?
« on: August 25, 2014, 03:14:12 am »
So if I export a wallet in JSON from Windows, shouldn't I be able to import it in Ubuntu?

Actually I tried to import wallets exported with 0.4.7 to 0.4.7 client and I get this even on Windows...

Can someone tell us what is the most STABLE environment? I am very nervous about keeping my wallet up to date.

I'm getting this:

Code: [Select]
Finished scanning for new transactions.
7 bad_cast_exception: Bad Cast
Invalid cast from type 'string_type' to Object
    th_a  variant.cpp:501 get_object

    th_a  wallet_db.cpp:445 import_from_json

    th_a  wallet.cpp:1822 create_from_json

    th_a  common_api_client.cpp:787 wallet_backup_restore

    th_a  cli.cpp:471 execute_command

Technical Support / Sync form scratch *extremely* slow
« on: August 21, 2014, 09:05:25 am »
So, I installed 0.4.4 and wiped everything but the wallet folder. Sync is taking f-o-r-e-v-e-r. I increased the preferred peer by doing this:

Code: [Select]
network_set_advanced_node_parameters {"desired_number_of_connections": 32}

Any other advice on how to increase sync speed?

Also should older version clients worry about forks?

Technical Support / CrashRpt1402
« on: August 21, 2014, 07:46:38 am »
Brand new windows 8.1

Downloaded executable from and after install I get "This program can't start because CrashRpt1402.dll is missing from your computer. Try reinstalling the program to fix this problem".

I believe version is 0.4.4.

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