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Messages - speedy

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1141
General Discussion / Re: Some clarity on the chains
« on: February 15, 2014, 10:36:14 pm »
Each new chain will be a new snapshot (except for resets in the event of a major bug in the month of March for the BitShares XT network)
As 5% interest and variable interest chains will require additional development, we will take a new snapshot prior to launching those chains.

Just try to clarify with you, for the future  5% interest chain ,ALL the AGS and PTS holder only able to get 10% of the shares of the chain since this new chain is a DAC product form 3I.

First chain, XT will have no interest.

Does the first chain has the dividend from transaction fee?

Yes the first chain has dividends from fees.

I imagine that the interest chain will also do the 50/50 AGS/PTS allocation, as the first chain was originally supposed to have interest. I think current AGS/PTS investors would only find a more diluted share acceptable if it was in a far-future DAC that required a huge amount more work. But that is just my opinion.

1142
General Discussion / Chain for stocks
« on: February 14, 2014, 09:50:09 pm »
I havent yet read a confirmed time line for when Invictus will release a separate chain for stocks. How soon after BTS X will this happen? If not then I might just attempt this myself - I think it would just be a case of forking the code and renaming the asset enums (and initializing the genesis block to AGS/PTS holders of course).

Also, are we certain that 16 different assets is the practical upper limit before overloading the blockchain, or is this another variable that will have to be experimented with? It would be great if you could fit the entire Nasdaq on one chain, and the NYSE on another.

1143
Technical Support / Re: cmake 2.8.12 needed to build
« on: February 14, 2014, 12:28:18 am »
Ok if anyone else has this problem, just put the options into

set(CMAKE_CXX_FLAGS "${CMAKE_CXX_FLAGS} options...")

in the global CMakeLists.txt

1144
Technical Support / cmake 2.8.12 needed to build
« on: February 14, 2014, 12:00:24 am »
Dan just bumped the cmake version requirement to 2.8.12, which introduced the target_compile_options() command (used by BTS makefile). The latest Ubuntu only has 2.8.11 in the repo, so I guess Ill have to roll back to and old version for the time being. Why so bleeding edge?

1145
Technical Support / Re: build errors
« on: February 13, 2014, 11:52:06 pm »
Inside /bts_wallet/CMakeLists.txt (or whichever app you are building), you need to add pthread as an argument to target_link_libraries().

1146
General Discussion / Re: Cross chain trading
« on: February 13, 2014, 02:23:49 am »
So does each chain have a different core asset? Are any of these assets expected to be pegged 1:1?
Are the BTS inside BTS X going to be devalued by the BTS on other chains? Or will all core assets have their own floating exchange rates?

Dan is saying that every chain will only have BitGold as a common/core asset, and they will naturally peg 1:1 between each chain because everyone will trade them according to the price of Gold relative to each chain's collateral.

1147
General Discussion / Re: Cross chain trading
« on: February 13, 2014, 02:21:43 am »
Thanks for the reply - yes BitGold is better choice +5% Dan thinks of everything.

But how easy will it be to do a trade with someone in practice? Will I be able to post my receive address here on the forums along with how much of the other BitGold I want, the other user then signs a transaction in his chain with that info and replies back with the transaction id, I then sign that id on my chain and transmit. Is that more or less how it could work?

1148
General Discussion / Cross chain trading
« on: February 13, 2014, 01:48:58 am »
Given that we definitely are going to have multiple Bitshares chains, can someone confirm whether cross chain atomic trading will definitely be supported by each chain and the client? As I understand it, it requires a number of steps to setup a contract for cross-chaining with someone else, so this would require some work to support. See here: https://en.bitcoin.it/wiki/Atomic_cross-chain_trading#Solution_using_revealing_secrets_of_contract

And are we agreed that this is how users will manage multiple chains - a BitUSD asset will exist in each one, and users can swap their BitUSD 1:1 to get into another chain that they are interested in?

Also, I am assuming that some kind of meeting place (such as a website) will be required to find other users who want to do a swap. Is anyone working on that?

1149
General Discussion / Re: Do BitShares need an interest rate?
« on: February 01, 2014, 12:29:52 am »
I thought that +5% was one Bitshares' most innovative features. If you remove interest entirely, it then becomes harder to argue that it is a bank at all.

While its true that a large interest rate will add a premium to BitUSD, Bit assets are already reduced in value because of the fact that I need to convert them to Bank USD or cash before I can spend them, with all the exchange fees that entails. I personally would only offer 90 Bank USD for 100 BitUSD.

In other words, if Bitshares wont give me any interest on my deposits, I now have no reason to store my USD in a crypto bank - I am much better off storing it in my regular bank where I can spend it on goods without paying fees. The only purpose of deposits is then like you said - to protect against a drop in the value of Bitshares itself.

I would be really disappointed if you dropped the interest feature entirely - Bitshares just wont be as appealing without it. We need +5% to compensate for going in & out of crypto, or at least some interest rate.

1150
General Discussion / Re: Estimated Price of 1 Bitshare
« on: January 25, 2014, 11:09:14 pm »
The argument that is always made is against merchants accepting Bitcoin for payment is its volatility.

What no one is talking about yet is that Bitshares solves this problem - merchants can simply accept BitUSD as payment (and receive a great 5% interest on all their sales deposits).

Perhaps you just need one big merchant to do this, and who knows what could happen to the price...

1151
I am interested in this.

After the wallet website is made, who would have to control it for the bounty to be paid? Would it be run by Invictus?

Also, if I were to get it running in a month, would that still be before the Bitshares genesis block?

1152
1 PTS for you.
Sweet! My address is in my sig :)

1153
Here is my succinct explanation:

BitUSD is a digital asset traded on the internal exchange built into the Bitshares blockchain. BitUSD tracks the value of a dollar relative to Bitshares. This happens by behavioural confirmation - all traders in the blockchain expect BitUSD to peg to the dollar, which leads them to trade in ways that confirm that expectation. If traders start to see Bitshares rising in value relative to dollars, this will result in lower bids being put in for BitUSD because of the expectation of seeing lower asks from the shorts.

1154
Ok Im sure its fine, but I still have my doubts about each chain only having 16 assets.

Lets say I use the first chain Bitshares X to make a profit on USD - I then have to trade that altcoin away before I can use the profit to trade on the Bitshares NYSE chain, and even then I can only trade a subset of 16 stocks in the NYSE. Wouldnt this be a limitation and a hassle for most serious traders? Its seems really complicated to actually use. Add to this the fact that the profit from 1 chain is worth less than the equivalent PTS invested to get in, because PTS gets you all chains.

Today you can get a regular spread betting account that lets you trade anything in the world from the convenience of 1 account. Why cant this eventually be possible with Bitshares?

And btw is there any time frame for a stocks chain? Stocks would be even more interesting than currencies because you could trade outside of normal hours.

1155
Marketplace / Re: 1000 PTS - BitShares Trading GUI [TO BE DEFINED]
« on: January 09, 2014, 10:05:55 pm »
Just PM'ed you cass.

Yes I agree a trading gui definitely needs a dark theme. Ill have to apply a dark Qt stylesheet from somewhere.

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