Quote from: kokojie on July 10, 2015, 02:06:25 am

Bitcoin is being spam attacked, so a lot of whales are seeking safer crypto, and LTC, NVC, NMC and PPC are perfect since they have been around for several years, well known, and were at the bottom of their value.

that's an interesting take on things...i do hope the BTC attack stops, those guys get their shyt together on block size, and it jumps back over $1,000

I'm surprised at the stalemate over the blocksize limit in bitcoin.  Seems like a no-brainer to me.

I have always thought of bts as the underlying backbone or reserve currency of the entire system of value transfer, whether that currency is used as collateral for MPA, funding of development through transactions fees, as just a plain old currency, or a myriad of other uses.  This should give bts much more value. 

I think we should see how the cnx model works once fully deployed and continue to have them funded through tx fees.  Hopefully the system can become self sustaining through tx fees and shareholder control.  Once that happens, then shareholders can hire cnx basically as a contractor to develop and maintain the system indefinitely if they so choose.  I don't see a problem with this all being done through the underlying bts.

Besides, to implement your strategy would require ANOTHER complete overhaul.  It may be a thought for another chain, but I think we should stay the course at this time.

Both bitshares and ethereum have nearly run out of development money, the bitcoin foundation is effectively bankrupt, and we have seen an endless stream of exchange failures.  This bear market has been brutal on everyone, but the silver lining is that the weakest projects and scams have been weeded out for the most part.  Only the strongest survive.  Bear markets are necessary for that. 

As an investor in this space, I try to keep up with most of the projects in the top 10 on coinmarketcap, which is difficult at times considering how dynamic this space is.  IMO, bitshares has a really good chance of being one of the dominant chains coming out of this.  Bitshares and dash are the only two projects that have clear plans on how to pay devs indefinitely by revenue generated from the blockchain.  Ripple appears to have plenty of XRP in reserves and bitcoin has received the bulk of VC money, so they should be fine for a while.  Sidechains in bitcoin could be a game changer if they are able to create secure revenue-generating models. 

However, bitshares has the potential to become the first self-sustained blockchain thankfully now that the core devs have secured additional funding to make it through until the blockchain does start producing significant revenue.  I think fears about cmx being a conflict of interest are overblown just as fears of blockstream being a conflict of interest in bitcoin is overblown. 

As far as IP, core devs face a catch-22 situation with the code they write.  If they don't open source it, then nobody will trust it.  If they do open source it, then anyone else is free to copy and use it, and licensing and copywriting will largely be irrelevant in this space IMO.  Remember, these systems are global and decentralized in nature.  It will be very difficult for legacy IP laws to be enforced.  You can't sue a blockchain.  If someone from a different country decides to copy your code and put it into another blockchain and do it all anonymously, you are not going to stop them, no matter how many lawyers you employ.  What would truly be fascinating is if someone came up with a way to make code both open source and restrictive at the same time through code and/or cryptography, not through legacy IP laws.  I don't see how this would be possible, but I am continually amazed at the ingenuity that comes out of this space. 

Stupid question:  What is IP?

How would the 2 way arbitrage work without compromising decentralization?  From what I understand, you would need to be able to transfer an external asset into the internal exchange for the arb channel to be completed both ways.

Has anyone checked out Veritaseum.  It looks like some serious competition to me.  Reggie Middleton's reputation speaks for itself. 

Veritaseum uses only bitcoin, and subsists completely on the bitcoin blockchain. It is the only bitcoin wallet system that can trade simple and complex value structures without using non-bitcoin tokens, alt coins, sidechains or alternative blockchains. It can trade the value of over 45,000 tickers in all asset classes, from major exchanges from all around the world. At it’s essence, Veritaseum is a hyper-intelligent Bitcoin wallet “system” that is able to create and interpret smart contracts through the blockchain. It coordinates with an Oracle to gain access to conventional, physical and legacy financial data and information and uses it to price, value, trade and settle OTC, P2P financial instruments - all in BTC.

The Veritaseum platform, using nothing but pure bitcoin with no tokens or alternative internal currencies, moves the value of all that he mentioned plus much more (over 45k tickers), with absolutely no counterparty risk on a fully autonomous basis using smart contracts based solely on bitcoin script

A member of our board of advisors, which we are just putting together, is the ex-chief investment office of one of the largest funds in the world — a few hundred billion dollars. He was a maverick in his space, is excited about the opportunity to literally shake up the world of finance, and is tasked with basically getting institutions to do trades. So, for every ten billion dollar institution that [trades on our platform], that’s the equivalent of an entire Bitfinex in one month’s worth of trades. That’s how we’re going to start, and then we have different verticals — we have that vertical, we have retail, and we have other, specialized verticals.”

Some pretty bold claims by Middleton.  I executed a test trade (short IYT, long USD) using their platform and I was a bit surprised the order got filled because of the P2P nature of the contracts and what looks like little volume on their system, but it does look like they are moving forward pretty quickly.

It's a natural reaction off of deep oversold conditions.  We will probably see a sharp correction but prices should stabilize and consolidate at levels higher than the low... and gear up for the next growth spurt. 

The tides are turning IMO.  I am amazed at the skepticism, but the strongest bull markets are born out of the deepest skepticism.  Why was it not a dump and then pump?  Even bitcoin has gone through a long distribution phase since the beginning of the year.  It's about time for this space to get hot again.

Quote from: monsterer on May 22, 2015, 08:20:07 am

Quote from: bytemaster on May 21, 2015, 06:32:12 pm

A peg is meaningless if you do not consider volume:

You can have $1.00 pegged to 1 BitUSD  *or*  You can have $100,000 pegged to 100,000 BitUSD but you cannot do both at the same time.

According to starspirit, you can only enforce the peg on an external exchange anyway, so this is largely out of your control. You have to rely on their orderbooks being thick enough to support the traded volume you want at the prices you want.

You can enforce it with a user issued asset on the internal exchange.

Isn't this what the price feed is for?  Arbitration should keep prices relatively uniform across external exchanges and the price feed is grabbed by the internal exchange to enforce the peg.