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General Discussion / Favorite Forum
« on: February 16, 2016, 01:41:50 pm »
I know we discussed this in the past, but I am curious about what alternative forums do you like?
Why do so many people like reddit? What do you like about our current forum? What are the pros and cons over moving to something like reddit?
Why do so many people like reddit? What do you like about our current forum? What are the pros and cons over moving to something like reddit?
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General Discussion / How to get a stable measurement of real world value without relying on a Feed?
« on: February 10, 2016, 10:40:49 pm »
How to get a stable measurement of real world value without relying on a price feed.
Proof of Work difficulty has a long lag time relative to price changes and also has efficiency improvements factored in.
So once could use mining as an objective source that is slightly biased.... all other things being equal, efficiency gains would cause the value of a proof of work to fall over time.
If there was a way to measure / compensate for efficiency gains in an objective manner then we would be a step closer. One basic method is to guess what the efficiency gains should be. This will give us something closer to the truth, but still error based upon the accuracy of the model.
Another means is to have several different proof-of-work systems using different algorithms. Not all algorithms will have efficiency growth spurts at the same time. By using the algorithm that grows the least in hash power at any point in time we can remove all efficiency gains that are not universal (impacting all proof of work variants at the same time).
Any other ideas?
Proof of Work difficulty has a long lag time relative to price changes and also has efficiency improvements factored in.
So once could use mining as an objective source that is slightly biased.... all other things being equal, efficiency gains would cause the value of a proof of work to fall over time.
If there was a way to measure / compensate for efficiency gains in an objective manner then we would be a step closer. One basic method is to guess what the efficiency gains should be. This will give us something closer to the truth, but still error based upon the accuracy of the model.
Another means is to have several different proof-of-work systems using different algorithms. Not all algorithms will have efficiency growth spurts at the same time. By using the algorithm that grows the least in hash power at any point in time we can remove all efficiency gains that are not universal (impacting all proof of work variants at the same time).
Any other ideas?
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General Discussion / How to build a decentralized application without fees [BLOG POST]
« on: February 10, 2016, 02:42:58 pm »20
General Discussion / The Currency Distribution Problem [BLOG POST]
« on: February 09, 2016, 11:25:40 pm »21
General Discussion / Political Irrationality
« on: February 09, 2016, 09:27:14 pm »
I found the following article to be very interesting and potentially helpful for encouraging more robust discussion on the forum:
http://www.owl232.net/irrationality.htm
The ability to recognize our tendency toward irrationality in discussions may help us withhold judgement and be more open to correction.
http://www.owl232.net/irrationality.htm
The ability to recognize our tendency toward irrationality in discussions may help us withhold judgement and be more open to correction.
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General Discussion / Buy $1 of Bitcoin
« on: February 08, 2016, 03:51:01 pm »
If I wanted to buy just $1 worth of Bitcoin and was completely new to crypto, what is the best way to do it?
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General Discussion / Should we Abandon Proof of Stake Marketing?
« on: February 04, 2016, 09:06:55 pm »
Proof of Stake seems to mean different things to different people. The early POS systems where flawed. In most of the discussions on POS I see people throwing out strawmen. Even worse, people won't give anything with a POS label the time of day, they have already written it off.
So when we say DPOS we automatically lose people. We need to get through people's knee jerk reactions.
So I am curious if there is another way to describe DPOS consensus without using POS.
So when we say DPOS we automatically lose people. We need to get through people's knee jerk reactions.
So I am curious if there is another way to describe DPOS consensus without using POS.
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General Discussion / API Servers for Wallet
« on: February 03, 2016, 03:21:09 pm »
We are looking for more redundancy in the API servers that can be integrated into the default wallet. Currently we have bitshares.openledger.info and bitshares.dacplay.org. To prevent/minimize downtime in the event of a server failure we would like to see additional API servers available.
Also we would like to see additional faucets set up and running. The faucets have control over the referral program. We will integrate the faucet / API servers into the default light wallet client. This way the user can quickly and easily switch.
All that is required is a domain name and vetting by this community.
Also we would like to see additional faucets set up and running. The faucets have control over the referral program. We will integrate the faucet / API servers into the default light wallet client. This way the user can quickly and easily switch.
All that is required is a domain name and vetting by this community.
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General Discussion / Lessons Learned from Alt Coins
« on: January 08, 2016, 11:22:18 pm »
What lessons can we learn about how to launch a successful alt-coin? Perhaps we could use this information to help us improve BTS marketing.
If you wanted to "create an alt coin" and only a "coin", not a DAC... how would you market it to maximize its market cap to be higher than DOGE.
If you wanted to "create an alt coin" and only a "coin", not a DAC... how would you market it to maximize its market cap to be higher than DOGE.
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General Discussion / Are there any blockchain based forums out there?
« on: January 05, 2016, 03:04:25 pm »
I am looking for help identifying any blockchain based forums or blogging platforms.
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General Discussion / Mannually Triggering Revoting Idea
« on: January 04, 2016, 10:05:13 pm »
The purpose of this BSIP is to minimize the cost incurred by the network doing unnecessary operations every maitenance interval.
Every hour votes are tallied and 99% of the time there is no meaningful change. Under this proposal, votes would only be tallied when requested by a user and at most once per maintenance interval. The fee for tallying votes would be around $5.
Users of the system can determine whether or not there is a $5 difference in votes that would justify a re-tally. A worker, witness, or committee member who got voted in would pay $5 to have the vote counted.
The side effect of this behavior would be to greatly improve reindexing performance, the vast majority of which is spent tallying votes that never change.
Witnesses producing blocks on the maintenance interval can pre-tally the votes and compare them to the last value. They can then indicate whether or not anything changed significantly in the block they produce.
If there is no one who stands to benefit by more than $5 then chances are it is an unnecessary update to the voting totals.
Every hour votes are tallied and 99% of the time there is no meaningful change. Under this proposal, votes would only be tallied when requested by a user and at most once per maintenance interval. The fee for tallying votes would be around $5.
Users of the system can determine whether or not there is a $5 difference in votes that would justify a re-tally. A worker, witness, or committee member who got voted in would pay $5 to have the vote counted.
The side effect of this behavior would be to greatly improve reindexing performance, the vast majority of which is spent tallying votes that never change.
Witnesses producing blocks on the maintenance interval can pre-tally the votes and compare them to the last value. They can then indicate whether or not anything changed significantly in the block they produce.
If there is no one who stands to benefit by more than $5 then chances are it is an unnecessary update to the voting totals.
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General Discussion / The Benefits of Proof of Work [BLOG POST]
« on: January 04, 2016, 09:36:02 pm »29
General Discussion / Q1 Roadmap for CNX
« on: January 02, 2016, 04:50:11 pm »
I would like to let everyone know what I am currently thinking in terms of CNX priorities for Q1 2016.
1. STEALTH - this project is being funded by a community member and takes highest priority
2. MAKER - this will be implemented by me and has no GUI component
3. API - this is actively being worked on by Michael and will continue to improve
4. SUPPORT - several worker proposals will be created to fund CNX to perform basic support, maintenance, and complete the implementation of existing features.
In the background I will be planning / exploring the MAS concept and attempting to gain traction. This will be the business area I would like to take CNX into as a business built on BitShares.
1. STEALTH - this project is being funded by a community member and takes highest priority
2. MAKER - this will be implemented by me and has no GUI component
3. API - this is actively being worked on by Michael and will continue to improve
4. SUPPORT - several worker proposals will be created to fund CNX to perform basic support, maintenance, and complete the implementation of existing features.
In the background I will be planning / exploring the MAS concept and attempting to gain traction. This will be the business area I would like to take CNX into as a business built on BitShares.
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General Discussion / Regarding MAS and my Vision
« on: January 02, 2016, 12:32:29 am »
Obviously I haven't fully communicated everything there is to know about MAS and why I am excited about it.
It all boils down to the fact that I need to create a business that I can enter and generate recurring and non-linear income. Doing worker proposals for BitShares or even work-for-hire is not a business, it is a job. Selling time for money is not a winning strategy. Even if BitShares stakeholders were able to fund 100% of my time, it wouldn't make sense for me to take that job unless it was part of a larger income generating strategy. Most people want a job, I want to create a business that generates non-linear income opportunities where there is no upper limit on what I can earn per hour.
In some sense I have a large stake in BTS and anything that grows the value of BTS produces non-linear income for me. But considering my personal stake in BTS is well under 5% it means my own efforts are diluted by 95%. This a long standing economic issue, a problem known as the group trap: http://www.ultimatefreedomquest.com/group-trap/
Within the realm of a DEX there are several business opportunities I could pursue:
1. Become a licensed money transmitter and host our own wallet. Under this model I would be competing with OpenLedger and others.
2. Create, Market, and Promote Prediction Markets. Under this model I would be operating something that could be perceived as gambling. This is a business area that is not safe to enter in the US.
3. Attempt to become a market maker. This is not my area of expertise and requires significant capital and liquid markets.
4. Build another business on top of the BitShares network.
I have looked at my own options and concluded that building another business on top of the BitShares network is the most profitable avenue for me. It may (or may not) be the most profitable for BitShares in the short term.
I also know that I didn't create BitShares so I could work a job I wasn't passionate about. I created BitShares because I saw that price-stable cryptocurrency was the foundation of something bigger. The MAS idea is something I came up with long before BitShares and was originally introduced... https://bitcointalk.org/index.php?topic=201297.0 I didn't know it was called a MAS at the time, but I do now.
More information will be coming. Those who want to see the DEX grow can see it grow by funding work to make it grow and starting businesses that would be profitable because of the DEX.
It all boils down to the fact that I need to create a business that I can enter and generate recurring and non-linear income. Doing worker proposals for BitShares or even work-for-hire is not a business, it is a job. Selling time for money is not a winning strategy. Even if BitShares stakeholders were able to fund 100% of my time, it wouldn't make sense for me to take that job unless it was part of a larger income generating strategy. Most people want a job, I want to create a business that generates non-linear income opportunities where there is no upper limit on what I can earn per hour.
In some sense I have a large stake in BTS and anything that grows the value of BTS produces non-linear income for me. But considering my personal stake in BTS is well under 5% it means my own efforts are diluted by 95%. This a long standing economic issue, a problem known as the group trap: http://www.ultimatefreedomquest.com/group-trap/
Within the realm of a DEX there are several business opportunities I could pursue:
1. Become a licensed money transmitter and host our own wallet. Under this model I would be competing with OpenLedger and others.
2. Create, Market, and Promote Prediction Markets. Under this model I would be operating something that could be perceived as gambling. This is a business area that is not safe to enter in the US.
3. Attempt to become a market maker. This is not my area of expertise and requires significant capital and liquid markets.
4. Build another business on top of the BitShares network.
I have looked at my own options and concluded that building another business on top of the BitShares network is the most profitable avenue for me. It may (or may not) be the most profitable for BitShares in the short term.
I also know that I didn't create BitShares so I could work a job I wasn't passionate about. I created BitShares because I saw that price-stable cryptocurrency was the foundation of something bigger. The MAS idea is something I came up with long before BitShares and was originally introduced... https://bitcointalk.org/index.php?topic=201297.0 I didn't know it was called a MAS at the time, but I do now.
More information will be coming. Those who want to see the DEX grow can see it grow by funding work to make it grow and starting businesses that would be profitable because of the DEX.
