Author Topic: Announcing BitShares 2.0  (Read 45054 times)

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Tuck Fheman

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Referrals: how does the client know who referred someone? will there be a special client download?

also,

Quote
Reward Vesting Requirements

All cashback and referral income are deposited into a special balance which must vest linearly for 1 year. This means that after 6 months you can withdraw about 50% of your cash back, but your remaining funds will take an additional year to vest. This is because the vesting process is based upon accumulating “BTS-years”, for each BTS-year accumulated you can withdraw 1 BTS. If you leave 100 BTS in the account for 1 year then you will have accumulated 100 BTS-years and can withdraw 100 BTS. On the other hand, if you withdraw 50 BTS after 6 months, then you will have consumed 50 BTS-years leaving your account with 50 BTS and 0 BTS-years. It will take a full year to accumulate another 50 BTS-years.

I don't like this at all. If you spent time bringing people to the network, you probably need some money for advertisement etc. you won't be able to reinvest this way

 +5%

Sadly, vesting was required to address a potential attack vector on the referral incentives.    Also, it helps mitigate Ponzi/Pyramid/Get Rich Quick type accusations.

 :-\

Offline wackou

I'm floored! This is an absolutely brilliant proposal, can't wait to see it in action :D
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Offline biophil

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Also, it seems the new client is not the same codebase as 0.9.x.

Is TITAN also baked in the new codebase? Will we have privacy built-in by default?
No, no TITAN. This is a good thing! TITAN wasn't really very effective for privacy, but it gave the illusion of privacy. Also, TITAN was one of the reasons the client was so unbelievably slow.

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Offline canucklehead

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Fantastic! All of you! I bet BTCJesus2.0 is gonna want some royalties for the name.

Offline inarizushi

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Absolutely awesome delivery :D. So much reading needed, this is just exciting as the first discovery ! Thank you !!
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Offline Ben Mason

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I'm speechless.  Bl00dy fantastic work guys.  It's awe inspiring.

Offline karnal

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And finally, GOOD JOB guys, this is wonderful, a complete game changer. I can only hope the price stays low long enough to send a few thousands more before people catch up to this :)

Offline karnal

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Also, it seems the new client is not the same codebase as 0.9.x.

Is TITAN also baked in the new codebase? Will we have privacy built-in by default?

Offline xeroc

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Offline karnal

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I love that the new client will be an entirely broswer based wallet.  This will greatly reduce the barrier to entry.

At present, its very easy for me to have a bitcoin wallet at blockchain.org, or a dogecoin wallet at dogechain, or whatever.  But having a Bitshares wallet was very difficult, required me to update the client, took a long time to sync the blockchain, and hogged my computer resources when I ran it. 

This will be a MASSIVE upgrade to usability.

Source? And by this I hope you mean it runs on localhost and accessible over http!

Offline xeroc

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There's also a subscription fee so I was wondering if that was part of proof of having stake too or just something additional.
not sure about the economical part here ... but extra features should require extra fee, no?

Offline merivercap

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What kind of ID verification is required?
no ID verification is required to use BitShares ..

ID verification may be required to use "some" User-Issued assets ..
If there was ID verification, sending out free samples to attract people would be possible ..
that's the reason we now have the more sophisticated referral program to attract people instead

Essentially proof of stake with subscription fees?

You have two options to increase adoption:
Hand out free bitUSD to new users ... this requires ID verification to not get abused

or alternatively make it like BitShares 2.0 and redistribute tx fees ...
that way no ID verification is required to incentivize user adoption ..

Ok yeah. Transaction fee redistribution is very good.  There's also a subscription fee so I was wondering if that was part of proof of having stake too or just something additional. 
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Offline svk

Are there any prints of the GUI? I'm very curious. A small, basic video, just messing around and showing the tabs or voting would be nice to share around

We're waiting on Cass to finish up his work on bitshares.org etc so he can start Cassifying stuff (he probably needs a break right now though cause he's been working 24/7 for a while I think..), which means the current wallet is more function than form so far, we'll take some screens once Cass has worked his magic I think.
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Offline xeroc

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What kind of ID verification is required?
no ID verification is required to use BitShares ..

ID verification may be required to use "some" User-Issued assets ..
If there was ID verification, sending out free samples to attract people would be possible ..
that's the reason we now have the more sophisticated referral program to attract people instead

Essentially proof of stake with subscription fees?

You have two options to increase adoption:
Hand out free bitUSD to new users ... this requires ID verification to not get abused

or alternatively make it like BitShares 2.0 and redistribute tx fees ...
that way no ID verification is required to incentivize user adoption ..


Offline merivercap

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What kind of ID verification is required?
no ID verification is required to use BitShares ..

ID verification may be required to use "some" User-Issued assets ..
If there was ID verification, sending out free samples to attract people would be possible ..
that's the reason we now have the more sophisticated referral program to attract people instead

Essentially proof of stake with subscription fees? 
BitCash - http://www.bitcash.org 
Beta: bitCash Wallet / p2p Gateway: (https://m.bitcash.org)
Beta: bitCash Trade (https://trade.bitcash.org)