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Messages - bitmeat

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1066
LottoShares / Re: LottoShares DAC - June 5th
« on: May 23, 2014, 07:31:47 pm »
That's a terrible setup for a pump and dump. It will spike MMC and then MMC will collapse. There is no whitepaper whatsoever either. Yeah let's all buy MMC so FreeTrade can unload. This is really short sighted.

1067
LottoShares / Re: LottoShares DAC - June 5th
« on: May 23, 2014, 07:09:21 pm »
Can you be more clear on what date will the MMC snapshot be taken? If it is end of May that is not nearly enough time for people to consider cashing out of exchanges.

1068
LottoShares / Re: Honoring AGS
« on: May 23, 2014, 06:31:30 pm »
I think I3 can easily fix that by changing the social contract so that AGS holders get an "option to buy at X price" that way there is incentive to honor the AGS as well as incentive for I3 to support development of the tech. So far Ethereum seems to be closest to what I would expect from a platform, minus the premine they allocated for themselves.

1069
LottoShares / Re: Honoring AGS
« on: May 23, 2014, 06:08:04 pm »
How AGS is handled is a completely different problem, and I agree with you wholeheartedly, tonyk!

However given that he is giving away 20% to BTC and DOGE, is a huge blow to bitshares community. BTC and DOGE don't give you anything in return either, well perhaps some free marketing.

1070
LottoShares / Re: Honoring AGS
« on: May 23, 2014, 05:28:02 pm »
You allocated 40% for things like marketing. It's not all about the code. Why not work with Stan and see what win win scenarios there might be in honoring AGS? Don't be stubborn, that's one reason MMC didn't do so well.

1071
LottoShares / Re: Honoring AGS
« on: May 23, 2014, 05:01:09 pm »
I might buy a bit of MMC, but unless AGS is honored I would not invest too much. I would like to see FreeTrade respecting what the community wants. Seriously consider it!

MMC already had a bad rep due to social contract not being respected. FreeTrade, if you honor both PTS and AGS, I bet you will get a lot more out of it than you are giving away.

1072
LottoShares / Provably fair algorithm.
« on: May 23, 2014, 04:52:10 pm »
If the random number is going to be controlled by FreeTrade, I suggest implementing something like the provably fair method from prime dice:

https://primedice.com/

Check the "verification" section. A "secret" is used for all the bets, then the client is able to generate their own seed to put in the mix, then the next day the secret is revealed to prove there was no foul play.

This increases confidence in the system as exhibited by the total of BTC that was wagered on that site (at the moment of writing 372,454 BTC)

1073
LottoShares / Effect on MemoryCoin price
« on: May 23, 2014, 04:27:00 pm »
Make no mistake the top priority in this launch is pumping FreeTrade's large stake in the depressed MMC, not the users of the Lotto. It's almost like the MaidSafe price fixing for MSC vs BTC, except this one is deliberate. Good luck, just make sure to dump before FreeTrade when/if MMC pops.

1074
BitShares AGS / Re: Crowdfunding using AGS?
« on: May 22, 2014, 07:36:32 pm »
Just to clarify I did invite Adam to comment of any platforms he knows about that are doing something similar in this space. Again the thought was more platforms - healthier competition. I was not aware of coin powers prior to this post, but I have no problem with the plug. All I'm saying is I don't view it as a shameless plug, since it is directly related to my request.

With respect to scams I believe the next major funding platform will take this very seriously and find a way to limit that. I am now invested in most of the platforms and am technically at quite a loss. In fact I hold almost no BTC since I have put them all in AGS, XCP, NXT, MSC, MaidSafe you name it. None of these platforms are entirely to my liking, but are the best that's available. I'm also perfectly well aware all of them could flop.

1075
General Discussion / Re: Invictus & Cryptonote
« on: May 22, 2014, 05:11:54 pm »
This is a very interesting concept, very close to one I've been working out. Their modified Diffie Helman might have attack vectors we don't know about. I love the Diffie Helman algorithm, however it has been cracked in the past therefore it is not safe to use. It depends how they use it of course. Time will tell. This needs to be proven as a concept first before rushing into integrating into I3

1076
General Discussion / Re: MaidSafe IPO on Mastercoin
« on: May 22, 2014, 01:26:40 am »
Fun times. And now you can't even login on Masterxchange...

1077

I have changed the spec for DPOS to select the delegate randomly rather than sequentially to prevent an attack whereby a delegate could tweak their vote so they are always scheduled to be the next delegate.

The random number selection is also useful for lotto dac.

+5% nice catch and great work!

1078
BitShares AGS / Crowdfunding using AGS?
« on: May 21, 2014, 06:59:15 pm »
I disagree that the funds must be entirely in control of Invictus. But that's just me. My point is they have not actually decentralized the funding itself.

Ok, so if not invictus, then who gets to make the final decision about where the money goes?  Should it be you?

Should we do a poll on the forum for who to entrust with the money?  I can make 1000 sockpuppets if you like and send all the money to me for my "project".

Should we just give back the funds to the people who donated?  Ok then, I guess I can donate as much as I want because I get it back anyway.

Bottom line:  People donated with the understanding that Invictus would be managing this money for the benefit of the community on behalf of the community.

Well. I guess what I am proposing is a paradigm shift from what I3 is doing. There is no right or wrong. You are right that AGS works exactly as they set out to do it.

In what I am proposing, you would be voting with your coins and investing in each DAC in portions you are comfortable with.
(fact PTS is closer to that since it is liquid, but you still have no say in which DAC you want to devote funds to)

Then the coin itself which would be liquid and % of the profits for each DAC would go towards development bounties through assurance contracts.

Also to answer your question - DPOS. In fact if you remember originally it was going to be only ONE trustee. I am glad BM moved away from that idea, perhaps partially because of this thread I started:

https://bitsharestalk.org/index.php?topic=3878.msg49002

In fact I have proposed DPOS above before BM "coined the term".

1079
BitShares AGS / Re: Crowdfunding using AGS?
« on: May 21, 2014, 06:47:23 pm »
I disagree that the funds must be entirely in control of Invictus. But that's just me. My point is they have not actually decentralized the funding itself.

Ok, so if not invictus, then who gets to make the final decision about where the money goes?  Should it be you?

Should we do a poll on the forum for who to entrust with the money?  I can make 1000 sockpuppets if you like and send all the money to me for my "project".

Should we just give back the funds to the people who donated?  Ok then, I guess I can donate as much as I want because I get it back anyway.

Bottom line:  People donated with the understanding that Invictus would be managing this money for the benefit of the community on behalf of the community.

Well. I guess what I am proposing is a paradigm shift from what I3 is doing. There is no right or wrong. You are right that AGS works exactly as they set out to do it.

In what I am proposing, you would be voting with your coins and investing in each DAC in portions you are comfortable with.
(fact PTS is closer to that since it is liquid, but you still have no say in which DAC you want to devote funds to)

Then the coin itself which would be liquid and % of the profits for each DAC would go towards development bounties through assurance contracts.

1080
BitShares AGS / Re: Crowdfunding using AGS?
« on: May 21, 2014, 06:30:45 pm »
I foresee a platform that would allow investors to control their funds. That is fully decentralized, and goes beyond what's in the link as in it protects how much the funded DAC can spend per day and allow investors to pull out at any point they like. I suppose there is no point in me trying to convince I3 to go towards that, nor the investors since you appear to be happy with the current setup. I've been putting this off for some time, but I will have to write some white papers and do some presentations. Ideally I am looking to create a workgroup to get together and solve all these issues if there is enough interest. I have worked out a lot of the details and started as a joke but as I was diving deeper I saw it was all possible.

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