Author Topic: In preparations for the "big" announcement  (Read 14144 times)

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Offline davidpbrown

Tell me what your biggest technical concerns about BitShares are.

What BitShares offers as pegged assets has huge potential. That should be clear to everyone. I wonder that capability should be the centrepeice of all marketing; wiki's and FAQ, as it's fairly unique to BitShares - value of asset by consensus, is a really important idea.

My principal concern then is that DPOS is not obvious and simple but confusing and political. The voting doesn't provide effective positive and negative feedback; large holders dominate and minor holders see their votes have little effect. The payments to the principal delegates are not obviously fair .. 100% is a license to print money. Where is the clear simple list of business cases for those?.. and even with that creating work for a user, expecting them to trawl through 101 of those to confirm they make sense, is too much. Better perhaps to set classes of delegate - devs get 100%; admin-support 80%; marketing 64%; etc or whatever but make it simple==trivial to understand and draw confidence from. While BitShares BTS are not worth what they will be, some delegates will be accruing a small fortune. Like it or not such central wealth and whales are not an attractor in a world looking for fair distributed power and wealth. It might be better for the long term that those are burnt through into BTC even?

There is then a serious question legal/technical question that's beyond me, about whether BitShares will need to become realistic and acknowledge KYC and AML in some way.. sufficient to engage large investors. Bytemaster and others seem to understand their options and it's not clear atm what Governments will insist on.. the UK perhaps being more realistic in how the perceived value of a digital token, is not Government's business and the exchange of those is not requiring KYC/AML but ye old bank and institutional money might not understand to take confidence from consensus rather than legislation. Jumping in one step to what we want from what we have, might not be realistic.

Other issues such as usability; GUI etc as incidental and will naturally evolve over time.
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julian1

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I like everything I hear.

- The referral system puts emphasis and incentives where they need to be - on acquiring new users.

- The separation of delegate duties, should allow better limitation of legal liability, and encourage branching into new markets.

- The changes to Bitassets rules -  I don't understand well, but appreciate they've been well received.

- Adopting a web-sockets/push approach to client/ server communication is awesome and will really help ease UX development, performance and scalability (personal experience with this).

What do I fear? That's simple. A code rewrite of this magnitude could introduce many new bugs, reveal hidden design assumptions that are no longer valid, and take far longer and require more resource than many will initially appreciate.

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Proposal
I therefore propose (and ask Bytemaster) to add a TL;DR; (too long; didn't
read) paragraph replying to the biggest concerns of shareholders right at the
top of "the announcement".


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Offline xeroc

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Fellow BitSharers,

Problem Statement
Rumors state that there will be plenty of new features (17 or so) in the
upcoming release of BitShares. Taking into account the historical reactions on
ANY news regarding BitShares, I feel that most people might dump their shares
on the market even before having read the announcment in full.

Proposal
I therefore propose (and ask Bytemaster) to add a TL;DR; (too long; didn't
read) paragraph replying to the biggest concerns of shareholders right at the
top of "the annoucenemnt".

So, what I ask YOU to do in this thread is the following. Tell me what your
biggest technicall concerns about BitShares are. I will update this OP and
collect all issues here.

Contributions
  • Will we see 'voted' hard forks such that core devs can no longer "change rules" at will and is the protocol now 'stable'?
  • Assuming there will not be two different bitUSD, how will the switch from bitasset 1.0 to bitasset 2.0 look like?
  • Will we see relative orders?
  • Will we be able to close short orders using the collateral?
  • Considering recent discussion about Bitcoin's block limits, how fast is BitShares "really" (in tps)?
  • What has been done to stabilize the user interface and make it user friendly/more responsive? Can we expect a fast, professional GUI experience within this year?
  • Will there be a referral system available at launch?
  • Will the separated Worker/Delegate/blocksigner proposal be implemented in time?
  • What measures have been taken to ensure that newly written code does not introduced many bugs or reveal hidden design assumptions that are no longer valid
  • Wil the new client be more resource efficient?
  • Have there been any ideas to increase voting participation (e.g. cold storage voting, simplified voting procedure)
  • What can be done to against whales dominating the voting process?
  • How can KYC and AML be acknowledge in BitShares such that it does not affect BTS holders?
  • Is the upcoming announcement just more technical improvements/features, or will there be any big exchanges/banks who issue their assets on the BitShares blockchain?
  • What's the core product?
  • How do we profit from it (the core product)?
  • Are Turing complete scripts/applications on the roadmap?
  • What has been done to attract more 3rd party developers?
  • When will the expired short orders will be filled and the BTS collateral will be released? Are these filled in order of expiry when someone is buying Bitusd at price feed? Does this mean that in order for all the expired orders to release collateral bitusd should fall below usd? What happens if bitusd never falls below usd because of small orders above the bitusd usd peg? Will the collateral from the expired orders remain blocked forever? Can I cover my self one of my expired order somehow?

Is there a plan for reaching out to the fintech startups of the world?  There has been $13.4bn of investment over the last yr to these startups that are hungry for a competitive edge like BitShares.
What is the plan for reaching consumers as the uber of banking?



edit: As a remark: Some questions may not be answered in an "Announcement for the next BitShares release", but may fit for a direct discussion in the mumble sessions with Bytemaster or any other community member. Though I will try to get answers of as many questions as possible.




Eaglery waiting for input.
Regards
 -- XeRoc
« Last Edit: June 05, 2015, 08:21:13 am by xeroc ¯\_(ツ)_/¯ »