Author Topic: exchange is a big bomb!  (Read 7758 times)

0 Members and 1 Guest are viewing this topic.

Offline liondani

  • Hero Member
  • *****
  • Posts: 3737
  • Inch by inch, play by play
    • View Profile
    • My detailed info
  • BitShares: liondani
  • GitHub: liondani
I don't want to say more at this time.
but I really need all delegate be ready to face this situation!
what will we do, if BTC38 sell fake BTS, and control the price?
should we pause feed price?
@Bytemaster
It would be smarter to pm the devs before doing this...  Just my 2 bts

Sent from my ALCATEL ONE TOUCH 997D


Offline alt

  • Hero Member
  • *****
  • Posts: 2821
    • View Profile
  • BitShares: baozi
I'm not saying anything for sure.
But let us discuss some technical measures in case unreal price happen in the centralized exchange that lead to a malfunction price feed

what will we do, if BTC38 sell fake BTS, and control the price?
should we pause feed price?
@Bytemaster
« Last Edit: March 18, 2015, 02:03:42 pm by alt »

Offline nomoreheroes7

  • Hero Member
  • *****
  • Posts: 756
  • King of all the land
    • View Profile
  • BitShares: nomoreheroes7
What's the actual cause of this concern from the Chinese side? Do you suspect BTC38 does this with all their coins or is it specific to BTS? If so, why?? And is there any kind of proof involved here?

Same questions here. Did something happen recently to cause people to suspect this? Or has this been a potential problem all along and people are just now realizing it?

Offline svk

What's the actual cause of this concern from the Chinese side? Do you suspect BTC38 does this with all their coins or is it specific to BTS? If so, why?? And is there any kind of proof involved here?
Worker: dev.bitsharesblocks

Offline Gentso1

  • Hero Member
  • *****
  • Posts: 931
    • View Profile
  • BitShares: gentso
Its possible that the limit is there because my account is new?  I only registered it this week so that I could move btc there from bter and buy BTS, back when bter wasnt allowing withdrawals. 

I took it out tonight and it let me take most of it, but not all.

contact  & withdrawal   gogogo!!





customer say
时代客服小叮当:您好,这种限制只是防止黑客与盗窃者,只需要通过核对是本人在操作的,我们会可以为用户增加到用户资金的全部,而且这种限制并不是限制一个币种的提现,而是用户帐户的总资产。

Era tinker bell service: hello, this limitation is to prevent hackers and by the thief, need only through the check is in operation, we will all may increase for the user to the user, and the limit is not the limiting a withdrawal of currency, but the total assets of user accounts.

I have withdrawn much larger amounts, just contact them and ask for a limit raise.

Offline luckybit

  • Hero Member
  • *****
  • Posts: 2921
    • View Profile
  • BitShares: Luckybit
now, almost all BTS trades at BTC38
and BTC38 have do nothing to prove their balance is true.
so this is a very big bug!
exchange can control the price very easy, I will not surprise even BTS down to zero.

so please make BTS to more exchange especially out of China , and push exchange to prove they are trusted.
this is a very emergency  task!

I guess I should prepare for another 20% price drop. BTS to $15 million marketcap or even $10 million if some bs happens with the exchange.

https://metaexchange.info | Bitcoin<->Altcoin exchange | Instant | Safe | Low spreads

Offline sudo

  • Hero Member
  • *****
  • Posts: 2255
    • View Profile
  • BitShares: ags
BTS存量证明
    1、btc38创建新的bts账号,现在GUI默认创建的是public account 公开账户
    2、把冷存的bts都转移过去
    3、热钱包也可以创建新的public account
    4、任何用户可以随时查到余额,用blockchain_get_account_public_balance
    5、如果懒得新建Public账户,那给客户提现,你们冷钱包转账出去的时候随手把余额转到冷钱包的主账户地址也行。区块链上可以查到这2亿多的bts流动


BTS stock certificate
1, btc38 to create a new account, BTS now GUI is created by default public account open account
2, all the BTS cold storage transfer in the past
3, hot purse can also create new public account
4, any user can check the balance at any time, use blockchain_get_account_public_balance
5, if too lazy to new Public account, the withdrawal to customers, you cold wallet transfer out conveniently transfer balance to cold wallet primary account address. Can find that more than 200 million blocks, chain of BTS flow

Offline cube

  • Hero Member
  • *****
  • Posts: 1404
  • Bit by bit, we will get there!
    • View Profile
  • BitShares: bitcube
I wonder what would happen if everyone buys and withdraws from btc38.  If they are running a fractional reserve at all, we could short squeeze them really hard.   That woulds be very interesting.

Yes, that would be a good test.  Let's withdraw and keeps our bts safe in wallet.
ID: bitcube
bitcube is a dedicated witness and committe member. Please vote for bitcube.

Offline cube

  • Hero Member
  • *****
  • Posts: 1404
  • Bit by bit, we will get there!
    • View Profile
  • BitShares: bitcube
They claim to have 258 million bts total among all users.

Wow! That's over 10% of the supply. Is that typical? I wonder what percentage of BTC are on exchanges.

Imagine, that is 10% of BTS that could have been voting if it was trading on the DEX (and voting with collateral and market order BTS was supported).

...

10% of the entire voting power.  Wow.. that is a lot!  How can we convince the public and bitcoiners in particular that bts delegate voting is fair and secured?
ID: bitcube
bitcube is a dedicated witness and committe member. Please vote for bitcube.

Offline sudo

  • Hero Member
  • *****
  • Posts: 2255
    • View Profile
  • BitShares: ags
Its possible that the limit is there because my account is new?  I only registered it this week so that I could move btc there from bter and buy BTS, back when bter wasnt allowing withdrawals. 

I took it out tonight and it let me take most of it, but not all.

contact  & withdrawal   gogogo!!



customer say
时代客服小叮当:您好,这种限制只是防止黑客与盗窃者,只需要通过核对是本人在操作的,我们会可以为用户增加到用户资金的全部,而且这种限制并不是限制一个币种的提现,而是用户帐户的总资产。

Era tinker bell service: hello, this limitation is to prevent hackers and by the thief, need only through the check is in operation, we will all may increase for the user to the user, and the limit is not the limiting a withdrawal of currency, but the total assets of user accounts.

Offline alt

  • Hero Member
  • *****
  • Posts: 2821
    • View Profile
  • BitShares: baozi
I have confirmed, the limit is to everyone.
Its possible that the limit is there because my account is new?  I only registered it this week so that I could move btc there from bter and buy BTS, back when bter wasnt allowing withdrawals. 

I took it out tonight and it let me take most of it, but not all.

Offline arhag

  • Hero Member
  • *****
  • Posts: 1214
    • View Profile
    • My posts on Steem
  • BitShares: arhag
  • GitHub: arhag
They claim to have 258 million bts total among all users.

Wow! That's over 10% of the supply. Is that typical? I wonder what percentage of BTC are on exchanges.

Imagine, that is 10% of BTS that could have been voting if it was trading on the DEX (and voting with collateral and market order BTS was supported).

If people are going to use BTS on outside exchanges it would at the very least be nice if it was BitBTS (a BitAsset that has 100% collateral requirements, no margin calls, and a fixed price of 1 BitBTS/BTS). BitBTS would allow people to self-short in order to split BTS into its voting rights (BTS held in collateral in the BitBTS short positions) and its value (BitBTS which can be used to claim the same quantity of real BTS in less than 30 days).


How can one see how many BTS are in an account on the blockchain?  I thought we couldnt do this because of titan.  How do we verify that btc38 has the claimed 258M bts?

If they're willing to vote once , then the vote record with large amount will be seen .

I'm sure a blockchain analysis could give us a pretty good estimate even without votes if we see which balances our deposit go to and withdrawals come from.

Offline Ander

  • Hero Member
  • *****
  • Posts: 3506
    • View Profile
  • BitShares: Ander
yes  vote  record

Since its their cold storage that they say has 258M shares, it might be hard/risky for them to vote?  They would have to expose it.
We need to make sure their cold storage bts doesnt get hacked, that would be a nightmare.
https://metaexchange.info | Bitcoin<->Altcoin exchange | Instant | Safe | Low spreads

Offline Ander

  • Hero Member
  • *****
  • Posts: 3506
    • View Profile
  • BitShares: Ander
Its possible that the limit is there because my account is new?  I only registered it this week so that I could move btc there from bter and buy BTS, back when bter wasnt allowing withdrawals. 

I took it out tonight and it let me take most of it, but not all.
https://metaexchange.info | Bitcoin<->Altcoin exchange | Instant | Safe | Low spreads

Offline sudo

  • Hero Member
  • *****
  • Posts: 2255
    • View Profile
  • BitShares: ags
How can one see how many BTS are in an account on the blockchain?  I thought we couldnt do this because of titan.  How do we verify that btc38 has the claimed 258M bts?

If they're willing to vote once , then the vote record with large amount will be seen .

yes  vote  record