BitShares X Status Update

[adistman]

please keep your own words, tell us more about bts x, not others...

Everything I am doing is to build BTS X and

Thanks for your hard work ,but please give us confidence.

[adistman]

adistman : if you don't like the plan of dan ,you may sell out all your pts.

I do not want to speak with a crazy dog

[thistome]

adistman : if you don't like the plan of dan ,you may sell out all your pts.

[bytemaster]

please keep your own words, tell us more about bts x, not others...

Everything I am doing is to build BTS X and

[adistman]

please keep your own words, tell us more about bts x, not others...

[toast]

Lotto is being worked on by arlen, it will also be the "tutorial dac" for others to look at while using bitshares toolkit

Sent from my SCH-I535 using Tapatalk

[muse-umum]

We like to start each proto-family franchise with the simplest possible instance to be the protocoin for the rest.  Lotto was the simplest we could think of.  Who wants to be the developer/promoter/maintainer to launch the first instance of it?  There are bound to be different instances for different regions, cultures, and legal jurisdictions.  Pick one, announce your social contract proposal to the community and get underway.

Please don't think BitShares is us trying to "own" this DAC - or any DAC.  We are trying to stimulate other third parties to "get in the game" by making the first prototype available as an example.

I'm sure third parties will also be all over every other game you can think of.  Don't wait for us to give you permission or a roadmap!

Stan, do you mean that I3'll offer the stander proto but instead of launching Bitshares Lotto directly you guys would like to have others finished this part ?

[jwiz168]

Please don't think BitShares is us trying to "own" this DAC - or any DAC.  We are trying to stimulate other third parties to "get in the game" by making the first prototype available as an example.

I'm sure third parties will also be all over every other game you can think of.  Don't wait for us to give you permission or a roadmap!

Yes  I would agree to that. Many entrepreneurs are seeing this as another opportunity but they rather wait and see how will I3's DAC  impact the market. Its kinda chain reaction you see in our country there is also  a lottery-like number game consists of only two numbers. Now if it goes well with DAC implementations , third party developers will surely embrace I3's vision and honor the social contract .

[Stan]

Is Bitshare Lotto a renamed DAC of Bitshare Bingo? Bingo game is not the same mechanics as Lottery.

We like to start each proto-family franchise with the simplest possible instance to be the protocoin for the rest.  Lotto was the simplest we could think of.  Who wants to be the developer/promoter/maintainer to launch the first instance of it?  There are bound to be different instances for different regions, cultures, and legal jurisdictions.  Pick one, announce your social contract proposal to the community and get underway.

Please don't think BitShares is us trying to "own" this DAC - or any DAC.  We are trying to stimulate other third parties to "get in the game" by making the first prototype available as an example.

I'm sure third parties will also be all over every other game you can think of.  Don't wait for us to give you permission or a roadmap!

[Troglodactyl]

Forked discussion of BitShares Lotto into it's own topic: https://bitsharestalk.org/index.php?topic=3621.0

[toast]

They are separate dacs, lotto is simpler and will come first

Sent from my SCH-I535 using Tapatalk

[jwiz168]

Is Bitshare Lotto a renamed DAC of Bitshare Bingo? Bingo game is not the same mechanics as Lottery.

[Stan]

Maybe this will help.  Here's a sneak-peek from our upcoming March newsletter.

Each of the DAC franchises shown along the bottom has at least one team forming that could decide to release a DAC in that family this spring.  I'll introduce you to some of them in the newsletter.  We will hear from others when their deals are finalized and they decide to go public.

Please note that Invictus is staying out of the way.  We do the R&D and help developers get started.  Do not think that the fact that other developers are beginning to work in parallel means bytemaster has wandered off from BitShares X.

But our first priority is to grow the value for all industry supporters - and that means having many products in the pipeline.  We promised to build you a decentralized crypto-equity industry.  You will see many of its blossoms this Spring.

[Stan]

But toast, you also said Me is similar to other 2nd gen coins like nxt, xcp, ripple, msc cuz they are all IOU trading systems, didn't you?

I don't want to say too much because I don't know of Dan's exact plans for Me, but that's my impression based on his brief descriptions.

Thanks toast for your clarifications. The question is: Is this because XT is delayed or the others earlier than expected. It was said that XT will come out (made liquid) this month (probably rather at the end of it). Would this mean it is not unlikely that DNS, ME and Lotto come out also this moth?

Differnt question. You mentioned XCP in the context of BTS ME. Wouldnt the betting feature require more than what I (up to now) understood BTS ME is (basically colored coins/digital IOUs)? Contracts for difference and colored coins are basically two different things. No?

I'll cover all this in this month's newsletter, but the bottom line is that we have a horse race with different development teams racing to be the next one out.  Invictus may make ordering decisions on who gets a little help from Bytemaster next, but otherwise the teams are independent and set their own schedules. 

I think it is likely you will see several of them do their snapshots this Spring.

Ask them (when they reveal themselves and start their own threads).

[Stan]

Hi Stan,
I'm worrying about the Bitshares Me itself evolves to Bitshares X, cuz I sold out my PTS partially after March 1st. If the Bitshares Me evolves to Bitshares X one day, instead of Bitshares XT, then your mis-announcement may cause my loss. Just to confirmation, can you characterize clearly that every Bitshares X chain will be snapshoted from Bitshares XT, whose genesis block is snapshoted from 228 of PTS/AGS?

Yes, every Bitshares X chain will have Bitshares X as an ancestor (parent or perhaps grandparent as the industry grows and perhaps segments further).  BitShares ME is a sibling family to the X family, not a parent or child.

We are not smart enough, however, to predict what may be invented in the future.  It will be up to each developer to determine where their new innovations should plug in to what amounts to an evolving DAC taxonomy or class hierarchy.

Could their be a multiple-inheritance hybrid DAC that is half-exchange and half-insurance?  Or a lottery for music?  Who knows?  Would it be wrong for a developer who invents a domain name insurance DAC to honor 50% from holders of BitShares DNS and 50% from holders of BitShares MAS?

Often it makes sense for a new DAC to honor an incumbent competitor DAC's current owners rather than its original owners.  If I were going to compete with an exchange that had been running for a year and had lots of customers, I would want to honor its current customers, not those who sold out and have since moved on.  On the other hand, if I wanted to attract users of many types of exchanges, I'd honor BitShares X - the protoDAC parent all exchanges.

As developers try to offers DACs that will attract the largest possible supporter base, it would not surprise me to see them offer a mix like this:

• 30% PTS
• 30% AGS
• 30% XTS
• 10% Developer Support

The purpose of proto-DAC families is to give investors the opportunity to focus their investments on industry sectors that they believe in the most.  This makes each DAC family a prediction market for the potential of that market segment.

ProtoDACs grow in value as:

• more credible DACs are announced that will honor them.
• more credible developers prove capable and earn trust.

ProtoDACs naturally and expectedly lose value after each snapshot is taken from them - transferring the value of an anticipated DAC they were holding to the actual instance of that DAC which has now become realized.