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Messages - valtr

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General Discussion / Re: FDIC for BitUSD
« on: August 14, 2014, 07:39:02 pm »

The challenge we face is that people can cancel their orders.  Unless we prevent people from canceling orders if canceling the order would put the market with insufficient depth. 

So many potential rules and they all have nasty consequences.
I will strongly advise against any rules preventing people from cancel-ling their orders.

0.02 BTSX
If Bitshares is to be a trading engine for forex, futures, commodity market, traders must be able to cancel their orders.
I think not be able to cancel order will turn off many potential users automatically.

General Discussion / Re: Let's show power of our community
« on: August 14, 2014, 05:04:17 pm »

Technical Support / Re: Introduction and Question
« on: August 12, 2014, 08:09:15 pm »
Hello, I am brand new to BitShares, but I have been active in BTC and other crypto since February of this year. I am really interested in Bitshares, but I just can't understand the difference between AGS, PTS, and BitShares X. I can see from my reading that the best way to get invested is to purchase BitShares X and use those shares to buy into DAC's.

But I don't really understand how AGS and PTS works? I know PTS can be bought and mined right now, but I don't really understand what you are getting by owning PTS. And AGS has me really confused. So my questions are outlined below.

1. What does owning PTS get you? And what makes PTS different from BitShares X?

2. How does AGS get me involved into BitShares, and is it to late to invest into AGS?

3. Why does BitShares X not have a Linux wallet?
1.The owner of PTS will get stake in all future DAC. BitSharesX will give you stake in this (bank,trading)branche only.
2. AGS donating period is over. Donating to AGS entitles you to proportional stake in all future DAC. AGS is not transferable.
The only way for newcomers is to buy PTS
3.By now you have to built Linux wallet yourself.

network_add_node "" add

VPS located in the Czech republic

General Discussion / Re: Demographics to approach for Bitshares X.
« on: August 06, 2014, 07:33:29 am »
Any business that can see how accepting bitUSD is beneficial (compared to both BTC and USD).

[edit] Overstock will be great leading the way.

So #4 )Businesses that will adopt bitUSD or BTSX as payment.  There is also the sub-demographic of people serving a consultant/integrator role.
That will be a hard sale without more widespread adoption, but at some point would be very key.  Someone running a crypto-market might see the usefulness of BTSX before others, much like what happened with BTC.  :o
That will depend on fees and exchange rate bitUSD/USD. If online shops will be able to quote prise in bitUSD/USD 1:1 profitably, that should be attractive for the business. 

General Discussion / Re: Bitshares Killer App
« on: August 05, 2014, 07:40:30 am »
I've been watching Bitshares pretty closely for a while now and wrote an article about it back in April. I feel I've got a pretty good understanding of what you plan to achieve (despite the crazy maze of branding that new users have to navigate their way through!)

Bitshares looks pretty promising but I still haven't invested, although I did get tipped some pts at some point (cheers fuznuts!) Now I don't want to get put on the stake here, but lately all my 'bitcoin 2.0' investment capital has been flowing into Nxt. Despite this, Bitshares still holds my interest. DPOS and corresponding block/confirmation time sounds great and could very well be a superior system to Nxt and its planned transparent forging. It's excellent that Bitshares has some implementation of pure proof of stake as the basis for all its projects, something we can all agree on is that POW and associated meta-coin projects (Counterparty, Mastercoin) are supremely disadvantaged by riding on antique chains.

But I don't want to discuss different POS implementations, it's insignificant in comparison to what you might have in the pipe. I want to write an article about how Bitshares X plans to track real world asset values in a completely decentralized way. That's your killer app if you can achieve it! I must admit (with my limited understanding) I don't think it can be done without the use of a centralized oracle/data feed.

I have done some research to see what I can find on the subject, but there is limited information available, Bitassets get loaned into existence by users pledging collateral (in the native coin/currency/share) the value of that asset (denominated in the local unit of value) is given by other users bids and asks. What is the incentive for order books to track the true value of a real world asset? Is it an issue that 2x of equity must be pledged to get 1x of a particular Bitasset? What is the effect of a liquidations due to volatility? (and many other questions). I get the feeling everyone thinks asset value tracking will be awesome, but no one understands how it is supposed to work and what its chance of success is.
Enlighten me!

These are good posts to start with.

wiki is here

Thanks guys for your quick responses. Meda, I followed your link, and the page says this:

"Please understand the software is a work in progress. While the blockchain is expected to be secure, the graphics and UI may be behind. The BitShares X software is professionally written yet highly experimental. Likewise this How To will likely drift into being out of date at times. This information is provided without any warranty. It is up to the user to know what they are doing. This "How To" is only presented as a guide and is in no way official. If you are unsure of something, please ask on the forums. No contributors to this page shall be held accountable for any losses incurred."

Unfortunately for now this does not make me feel very confident at all. I don't want to risk losing coins.

I am not an IT expert, but I think it is not 100% stable. You will loose nothing by waiting for more stable release.
There are no BitUSD or other bitassets in this release.
I was just impatient.

Hi. I held PTS in my PTS Wallet for the Feb 28 snapshot, and so was allocated BTSX which I can verify when I check my PTS address at this page:
I want to test trade my BTSX (I note it is now trade-able on BTER), and also use some of the functionality of Bitshares, and so want to get it into a wallet. So I downloaded the BTSX wallet from here:
The question is what do I do now? How do I get my allocated BTSX into the wallet? For starters, I am not sure where to transfer from - where does my BTSX sit? Second, I am not sure what to use as the BTSX wallet address I am transferring to - is that the Account Key? Third, I noticed another thread suggesting the wallet is demo-mode - so can I actually use the wallet or Bitshares anyway? Fourth, I tried to register the account I set up in my wallet, but it won't let me register until I have BTSX in my account.

I'm very confused, and would appreciate somebody setting my understanding straight. Thanks...

You can look here. The last paragraph shows how to import PTS wallet. I have done it this way and it worked for me.

Random Discussion / Re: Goodbye… for now
« on: June 29, 2014, 07:35:52 pm »
Good luck a hopefully see you again.

General Discussion / Re: Dry Run 6: Great Scott!
« on: June 29, 2014, 10:43:39 am »
Please can anybody send me funds for testing thanks


That is probably the same idea as

General Discussion / Re: Number of Bitshares X at launch
« on: June 22, 2014, 06:21:07 am »
I am undecided please convince me of either way.

+ More BitShares X easier invest. Instead of buying 0.00001, you can buy 1 and it can be seen a less risky option. (DogeCoin)
+ Less BitShares X increases value due the limited amount and speculation.  (Bitcoin)
+ Both are limited regardless.
+ With More BitShares X 1 = 1$ you can mentally calculate investment or trades in assets.
Totally agree 1 is better than 0,0001 etc.

LottoShares / Re: Honoring AGS
« on: May 24, 2014, 03:21:20 pm »
I've reconsidered the issue following the feedback from the community and decided to honor the AGS holders with 10%. Thanks for the feedback on this issue and apologies for any divisiveness created.
+5% I hope this is the real start we are all waiting for. Thank you for your decesion.

KeyID / Re: Pre-allocate share as "Dev DNS"?
« on: April 06, 2014, 09:00:11 am »
I agree with 45/45/10.


Some additional effects of this process which I neglected to mention.

1. It is hardware and algorithm agnostic.

The algorithm used for Proof of Work is separated from the payout reward. So you could mine with any kind of Proof of Work at the mining pool, CPU, GPU, ASIC, any hashing algorithm, it simply does not matter. The only thing that matters is that whatever you mine can be traded so that it can go *your mining* -> BTC -> BTS.

2. It's decentralizing.

It would make BTS more decentralized because anyone could mine any coin on any hardware and get BTS payout. This broad distribution of BTS markets BTS better than any possible advertisement could. Some superior CPU altcoin could come out, people could mine that and fill up their Bitshares wallet.
3. It encourages BTS to be used as the ultimate store of value.

In times of bubbles, BTS will go to the moon. In bear markets, BTS will be the ultimate place to store value (far better than Bitcoin). So in either situation it makes the most sense to mine whatever but store your value in BTS. If we could set it up so a portion of people's paychecks went to BTS automatically it would have a similar effect.

P.S., I also think it would be cool if we could mine BTS on our solar powered cellphones.


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