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Topics - speedy

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76
This sucks:

http://www.coindesk.com/russia-proposes-fines-bitcoin/

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The two-page draft bill details a series of administrative fines to be imposed on both businesses and private citizens who issue, create or deliberately disseminate information about the release or operation of digital currencies, the language implying that the law would apply to much of the bitcoin industry, from bitcoin users to miners and service providers.

I wonder if in our case we could work around this law by explaining that its a crypto-equity, not a currency.

What is Russia so afraid of anyway? They are effectively banning anyone from programming a certain type of software. Talk about free speech.

77
General Discussion / DAC Idea: Coin drop game
« on: October 03, 2014, 09:40:08 am »
If youve seen those coin drop arcade machines, you know how enticing they can be. They make you think "Just one more coin and Ill win..."

This is a coin drop machine: http://www.youtube.com/watch?v=tnG7fg_SPq8

I think this is a great idea for a DAC. The wallet would have a 3D simulation of a coin drop game, and users can drop their shares in and watch them bounce around. It would cost 1.1 shares for each play of the game - 0.1 for the transaction fee, and 1.0 for the coin dropped into the game. The dividends would be HUGE.

You could also drop BitAssets in such as BitUSD, BitGLD and BitDOGE. They would make the game more interesting and would have the same function as the gimmicky prizes you often see in the real coin games.

3 design issues:

Because user commands have to put into a block which is created every 10 seconds, the game wouldnt be real time. You could setup a scheme whereby the virtual coin pusher begins and ends in "phase" with the block times. This way you submit your command to drop BitUSD into the coin drop at 5/10 through the current block, and you see your coin drop at 5/10 through the next confirmed block. Because of the time delay, its possible that the game might not be as fun.

To validate the blockchain, potentially a lot of expensive physics calculations would have to be done, and they would have to be deterministic. A fixed point physics engine may help here.

What happens when 2 users throw in a coin and win at the same time? How are the winnings divided?

78
General Discussion / Lol 500BTSX / BitUSD on Tuesday
« on: September 24, 2014, 11:41:50 pm »
Im looking at the chart, focusing on Tuesday. Did someone messup and put in a bid for BitUSD at 500 BTSX ?

Im guessing that means a nice dividend for the rest of us, as the difference between the matched Bid & Ask orders is eaten as fees?

79
General Discussion / Talking to BTC hodlers about mining is a waste of time
« on: September 23, 2014, 10:47:45 pm »
This is about how after lots of debating on r/bitcoin, Ive concluded there are better things to spend one's time on.

They just come up with so many excuses for why paying for mining is totally fine, and that the price will still go up despite the huge costs of securing the network. Its infuriating.

Ive come to the conclusion that some Bitcoin die hards are masochists - they enjoy feeling the pain of losing money.

Either that or its become like a cult where you can't question anything. Many cults have pointless rituals like mining.

The only thing that will convince them is seeing the inevitably large market cap that will come when dividends + BitAssets really takes off.

/rant

80
General Discussion / Coinapult has a centralized competitor to BTSX
« on: September 22, 2014, 08:45:39 pm »
I was perusing r/bitcoin and this advert was amusing to me:



Turns out coinapult has a centralized competitor to BTSX. I sure would love to see what Eric Voorhes thinks of BTSX.

Check it out: https://coinapult.com/locks/info?pk_campaign=Reddit&pk_kwd=Locks

I especially like this quote:
Quote
Locks is a tool that provides the price stability of familiar assets, while utilizing the efficiency of the bitcoin network

It should read something like: "...utilizing the efficiency of a centralized counterparty whose co-founder has already been sued by the US government"  ;)

81
General Discussion / New gui in 0.4.15
« on: September 17, 2014, 10:09:46 pm »
What is the short demand yellow region about in 0.4.15?

Also, my brain cant deal with pricing BitUSD in shares. I have to do divisions in my head all the time. I look at coinmarketcap and it shows the cost per share in dollars, which is what Im used to. So I press the Flip Market button to see the dollar price per share, but then the Short BitUSD column is not available. This seems like a bit of an arbitrary restriction.

Would it be possible to make the grey characters darker on the white background? Its barely readable. Besides, most trading screens have a white on black background.

Love the new highcharts graph btw :)


82
General Discussion / Incentivize taking BTSX off the exchanges
« on: September 17, 2014, 05:02:41 pm »
This post is probably quite obvious, but I think its worth talking about.

IMO a big thing holding back the BTSX price/adoption is that people are just happy to trade it back and forth on the centralized exchanges. If more people would take it off the exchanges and trade via shorting/buying BitUSD, then it would lock up more money into BitAssets, thereby restricting the supply of BTSX.

Because of collateral, the following equation applies:
Code: [Select]
Sum of BTSX > Sum of BitAssets * 3
So the question is how do we incentivize people to start using the internal exchange instead? The obvious answer is that the QT wallet needs to be really beautiful & intuitive - even more than bter.com etc.

But perhaps there are other innovative ways of incentivizing the use of the wallet? Can anyone think of other ways?

83
Random Discussion / Anyone here from Venezuela?
« on: September 10, 2014, 10:35:58 pm »
"Venezuela's annual inflation rises to 63.4%"
http://www.bbc.co.uk/news/world-latin-america-29140359

BTSX would be a god-send for them. We could use that as part of a marketing campaign for BTSX, as well as this:
http://www.bloomberg.com/news/2014-06-09/venezuela-prostitutes-earn-more-selling-dollars-than-sex.html

84
Muse/SoundDAC / BitUSD used to buy artistcoins?
« on: September 07, 2014, 09:56:38 pm »
According to http://peertracks.com/faq.html artistcoins can be bought using BitUSD.

BitUSD is on a different blockchain than Bitshares Music, so can someone explain the link between them? Do I open my BTSX wallet and send BitUSD to peertracks, and then it credits me with snoop dog coins?

Also, is peertracks.com basically an easy to use frontend to Bitshares Music, so that users dont need to download the wallet or know anything about crypto?

85
I know this rule was put in place to make the peg more accurate, but I still feel that it should be my right to take the risk of putting in more competitive shorts, even if it causes cheap BitUSD to be created.

86
Regarding the collateral requirements, what is the response to this fair point from someone on bter.com:

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And it has not been stable, its up 1000% in a week, so a 50% pullback seems an inevitability rather than some unforeseen event.

This seems to be the biggest argument for why the market peg wont work.

87
Meta / Is there a graph of the bitsharestalk.org member count ?
« on: August 25, 2014, 11:18:56 am »
It would be really interesting to correlate the recent price rise to the forum membership.

88
General Discussion / BTSX as the proto-DAC for BTSX-derived chains
« on: August 16, 2014, 08:54:11 pm »
Can we get some more details about this? Stan was reminding us that BTSX is the proto-DAC for BTSX-derived chains.

Does this refer to a chain for assets pegged to company stocks for example?

How many BTSX derived chains will there be?

Will shares in the new DAC be allocated 1:1 for every BTSX, or will there be dilution to pay for development?

Makes me wanna buy mooore BTSX :)

Also, given that Bitshares uses TITAN stealth addresses, does this present problems copying everyone's balances into the genesis block of the new chain?

89
General Discussion / Maidsafe's inflationary Safecoin
« on: August 15, 2014, 12:54:18 pm »
Almost everyone here believes that the assets that you hold should provide you with dividends, not inflation. So what do we think about Maidsafe and Safecoin?

As I understand it, you can volunteer 10 GB of space for example to store 1GB of space on the Maidsafe network. If you provide much more resources than you are consuming, you are compensated with new Safecoin (known as farming), which can be spent later to store your data on the network.

What do we think of this business model? Do the needs of the Maidsafe network justify having an inflationary currency? Or should their system be redesigned into a DAC that actually provides dividends to shareholders?

The words of charles hoskinson come to mind when he said that rewards should go to people that support the network, as opposed to people that just hold the tokens.

Btw, anyone who wants decentralization should be really excited about Maidsafe. We should not be seeing it as a competitor.

90
General Discussion / Moving BTSX from genesis stake
« on: August 11, 2014, 08:44:47 pm »
Sorry if this has been answered before, but I still cant find the answer anywhere:

I have successfully imported my AGS/PTS private keys, and therefore in the recent transactions page it says:

GENESIS -> myaccountname

My questions is: if I am worried about my AGS/PTS keys being compromised, I should move my BTSX away from my genesis stake into an address controlled by my BTSX Account Key, correct?

Thats what I have done, and I see these transactions:

myaccountname -> self

But the GUI doesnt explicitly show that the Account Key is now in control of my stake - I just have to assume that by checking that the self transactions add up to the sum of my genesis transactions.

Im finding this quite frustrating - I wish the GUI would say explicitly that my Account Key is now in control of my stake.

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