Author Topic: Bitcoin under attack meanwhile at BitShares 2.0  (Read 1862 times)

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Offline Ander

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Re: Bitcoin under attack meanwhile at BitShares 2.0
« Reply #15 on: July 08, 2015, 06:03:14 pm »
So in bitcoin, spamming the network is an attack.  In bitshares 2.0, it would be producing revenue for BTS holders.
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Offline xeroc

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Re: Bitcoin under attack meanwhile at BitShares 2.0
« Reply #16 on: July 08, 2015, 06:31:34 pm »
So in bitcoin, spamming the network is an attack.  In bitshares 2.0, it would be producing revenue for BTS holders.
Close ..

So in bitcoin, spamming the network results in profit for miners.
In bitshares 2.0, it would be revenue for all BTS holders.
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Offline monsterer

Re: Bitcoin under attack meanwhile at BitShares 2.0
« Reply #17 on: July 08, 2015, 08:45:20 pm »
Issuing of assets only applies to user issued assets though, MIAs are brought into existance through shorting (or borrowing rather in 2.0)

Nothing to stop you from shorting to yourself and then dividing up the bitAsset into a billion different chunks and then sending them, tho... The difference between a UIA and an MIA (at least in BTS 0.x) is that a UIA pays a BTS transaction fee, whereas an MIA does not.
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Offline bytemaster

Re: Bitcoin under attack meanwhile at BitShares 2.0
« Reply #18 on: July 08, 2015, 10:14:35 pm »
Issuing of assets only applies to user issued assets though, MIAs are brought into existance through shorting (or borrowing rather in 2.0)

Nothing to stop you from shorting to yourself and then dividing up the bitAsset into a billion different chunks and then sending them, tho... The difference between a UIA and an MIA (at least in BTS 0.x) is that a UIA pays a BTS transaction fee, whereas an MIA does not.

Market Issued assets have a fee pool just like any other asset.
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Offline monsterer

Re: Bitcoin under attack meanwhile at BitShares 2.0
« Reply #19 on: July 09, 2015, 11:01:24 am »
Market Issued assets have a fee pool just like any other asset.

How does that come into play if the fee is 0?
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Offline xeroc

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Re: Bitcoin under attack meanwhile at BitShares 2.0
« Reply #20 on: July 09, 2015, 11:05:43 am »
Market Issued assets have a fee pool just like any other asset.

How does that come into play if the fee is 0?
- however makes a transaction has to pay a network transaction fee
- you can pay the fee in BTS
- if you want to pay the fee as USD or any other asset you need to pay 2-4x the price of the fee in BTS .. as USD (or any other asset) -- the asset is converted into BTS using the fee pool and the core_exchange_rate defined by the asset maintainer (UIA) or market (MPA)
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sumantso

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Re: Bitcoin under attack meanwhile at BitShares 2.0
« Reply #21 on: July 09, 2015, 11:20:03 am »
If we already had 2.0 enabled it would've been a good time to promote BitBTC.

The point I am making is in future if something similar happens, instead of telling them 'switch to BTS'. we tell them to use BitBTC instead, as a way of remaining in BTC but bypassing the restrictions.

Offline xeroc

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Re: Bitcoin under attack meanwhile at BitShares 2.0
« Reply #22 on: July 09, 2015, 11:31:25 am »
The point I am making is in future if something similar happens, instead of telling them 'switch to BTS'. we tell them to use BitBTC instead, as a way of remaining in BTC but bypassing the restrictions.
you can by bitUSD with bitBTC within 1-5 secs .. or
you can execute 600 trades with bitBTC in the time it takes to transfer BTC :D
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