Author Topic: BitShares X Status Update  (Read 260946 times)

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Offline Stan

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The February 28th snapshot is cast in concrete.
Anything said on these forums does not constitute an intent to create a legal obligation or contract of any kind.   These are merely my opinions which I reserve the right to change at any time.

Offline toast

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Yes please don't make bolded claims when they are not true. Using a different snapshot is insanity.

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bitbro

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Also, the Feb 28 snapshot will NOT be used for BTS X.

This is absurd. by doing this 3i and the whole project will be a totally joke that no one would give it any tiny trust any more.
god, stan and BM please don't even think of this.

That's not a real quote is it


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Offline unimercio

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Pardon my candor,

Management by committee sucks and by forum outright lunacy.

I would assume each project team has a project plan and I3 has a strategy for orchestrating the various projects. We can cheer, hoot and holler all day here on the forum, at best we provide ideas, sentiment and information. But, we do not are should we drive the plan, that is best left to the planners and system architects.

As an investor, I put my faith in the organization and to a lessor degree the community. Communities can raise a barn in a weekend, not build complex financial systems. We in the community can best support the organization by:

Starting complementary projects of our own that honor the AGS/PTS contract
Continuing to invest in AGS/PTS
Fill openings in existing projects when available
Educate the greater community
Be good community citizens by helping selflessly

And yes, open source projects can build very complex systems organically over long periods of time. But, this is a different animal, part open source and part commercial enterprise. Don't try to apply old school familiar rules. This is a, classic Black Swan (oxymoron, btw).
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Offline xeroc

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changing the social contract is suicide and the devs know that very well and stated several times in this board that it will not happen!

Offline bodenliu

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Also, the Feb 28 snapshot will NOT be used for BTS X.

This is absurd. by doing this 3i and the whole project will be a totally joke that no one would give it any tiny trust any more.
god, stan and BM please don't even think of this.

sumantso

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The biggest problem right now is the 28 Feb snapshot. As we get farther away from the date, it keeps looking worse (and is generating a lot of heartache amongst investors) and creating more pressure on Dan and co.

The logical order of releases would have been Test DPOS -> Real DPOS Coin -> BTS Me -> BTS X. I have a suggestion (will probably be hated by most) which might get around this.

For starters, PTS mining and AGS donation has to be stopped and all these along with the Feb 28th snapshot merged in a single coin of 4m supply (lets call it Tokens) and the social consensus would state that at least 20% of any DAC should honour these Tokens (instead of 10% each for PTS and AGS). Also, the Feb 28 snapshot will NOT be used for BTS X.

So, the distribution will be
1> Some 1.8m for PTS will become 1.8m Tokens
2> Roughly 1.1m AGS will become 1.1m Tokens
3> The remaining 1.1m can be distributed amongst Feb 28 snapshot and/or award Tokens directly to I3 which will be used only as payments/bounties (and can't be sold directly by I3).

The ratios can be adjusted accordingly to try and even out the playing field amongst the various types of investors. In this scheme, I think all the sets are being accommodated.
1> PTS holders will still get the same portion.
2> Ditto for AGS but as an added bonus they are liquid (BM is trying to get some form of BTS XT out quickly so that those AGSers can have some form of liquid asset).
3> PTS and AGSers before Feb 28th, who got in at a higher price due to the promise of BTS X will be partly compensated by getting awarded extra tokens. If you think that is not enough, that snapshot may also be used to award BTS Me, which is expected to be the first DAC with some features.

In doing so, initially BM releases a test version to try out DPOS. If it works well, the conversion into Tokens happen, which will mean it will be tested on a real coin listed on exchanges and having a good market cap. At this point, a mining pool which awards Tokens can also be set up. Remember, Tokens at this point will be the first DPOS coin, and with the rage about PoS these days, having a supposedly superior (we have to see how it works in practice), we should get a lot of buzz.

Then, BTS Me with some functionality (and maybe honouring Feb 28th snapshot) gets released, and after that every DAC honours Tokens directly - no more having families of DACs with with its own ProtoDACs to provide distribution and all. This simplifies matters to a large extent as you know how may of these Tokens you have and so what percentage you will get - no more trying to calculate separately for PTS, AGS or even BTS XT (for future BTS Xs). Of course, future DAC creators may award differently, like 20% for Tokens and, say, 10% for Bitshares Me, but that is his own choice.

Even if you guys think I am not bonkers, still there is room to adjust the numbers/ratios to even it out amongst the various investors. I just like the idea of having a simple, elegant system to award me the DACs (instead of the complicated mess we have now). The biggest benefit, IMO, is that the infamous Feb 28 snapshot monkey is off the back.

*goes back to smoking that weird plant thingy*

Offline fuzzy

Regardless,

When this is up and running, there should be a big marketing push for it.  I think that is why BM was trying to gauge interest for an airdrop--to get people using it immediately. 

The more I look into it, the more I think that the blackcoin multipool model would be the best kind of air drop. 
WhaleShares==DKP; BitShares is our Community! 
ShareBits and WhaleShares = Love :D

Offline bodenliu

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May I ask after the GUI delay,What's the ETA of the wallet release?thanks

same question here. BM said after the NY conference , what now?

lzr1900

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May I ask after the GUI delay,What's the ETA of the wallet release?thanks

Offline cass

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Lets just skip caring about deadlines and continue building a superior crypto community

I fully support you BM!!
I think that's a dangerous attitude.  deadlines are important even if they do slip from time to time. 

However, this particular instance of going over the stated deadline is much less egregious when considering the reasons given by BM for the delays and I support the path I3 is taking by taking some extra time to flesh out the security model and build out a toolkit that will hopefully speed up future DAC development.

I have spoken thus far with a number of other Devs with regard to potentially using Beyond Bitcoin as a helpful platform to have their presence known and have specifically brought up the concept of DPOS...and all of them thus far are loving it.  Thought you guys might want to hear this...

Thanks for the good news!

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Offline Stan

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Lets just skip caring about deadlines and continue building a superior crypto community

I fully support you BM!!
I think that's a dangerous attitude.  deadlines are important even if they do slip from time to time. 

However, this particular instance of going over the stated deadline is much less egregious when considering the reasons given by BM for the delays and I support the path I3 is taking by taking some extra time to flesh out the security model and build out a toolkit that will hopefully speed up future DAC development.

I have spoken thus far with a number of other Devs with regard to potentially using Beyond Bitcoin as a helpful platform to have their presence known and have specifically brought up the concept of DPOS...and all of them thus far are loving it.  Thought you guys might want to hear this...

Thanks for the good news!
Anything said on these forums does not constitute an intent to create a legal obligation or contract of any kind.   These are merely my opinions which I reserve the right to change at any time.

Offline fuzzy

Lets just skip caring about deadlines and continue building a superior crypto community

I fully support you BM!!
I think that's a dangerous attitude.  deadlines are important even if they do slip from time to time. 

However, this particular instance of going over the stated deadline is much less egregious when considering the reasons given by BM for the delays and I support the path I3 is taking by taking some extra time to flesh out the security model and build out a toolkit that will hopefully speed up future DAC development.

I have spoken thus far with a number of other Devs with regard to potentially using Beyond Bitcoin as a helpful platform to have their presence known and have specifically brought up the concept of DPOS...and all of them thus far are loving it.  Thought you guys might want to hear this... 
WhaleShares==DKP; BitShares is our Community! 
ShareBits and WhaleShares = Love :D

Offline amencon

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Lets just skip caring about deadlines and continue building a superior crypto community

I fully support you BM!!
I think that's a dangerous attitude.  deadlines are important even if they do slip from time to time. 

However, this particular instance of going over the stated deadline is much less egregious when considering the reasons given by BM for the delays and I support the path I3 is taking by taking some extra time to flesh out the security model and build out a toolkit that will hopefully speed up future DAC development.

Offline cass

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I thought I would update everyone on our GUI development.   We have been working with a bright developer named Nathan who has put together a large amount of a basic GUI for the BTS wallet.  He still has some work to do, but his progress is still significant.



It isn't quite the interface I would have designed, but is certainly a step up from the command line and we will enhance it as time progresses.

this UI is invalid、canceled?

No that UI is still valid for the BTS X trading work.  Nathan graduates in a month and will be working full time on it.  He is one of the most talented developers I have met and producing that GUI was a challenge I didn't expect him to be able to complete given the time we gave him.  He pulled it off and so I am very excited to have him come on board.  Obviously the GUI has some work to do.

I would have liked to have him work more on it the past month or so, but unfortunately that is beyond my power.   We have been interviewing lots of people trying to find the skills we need and so far Nathan has proven himself where as others have not shown the same potential.

wow really nie update! Really great work so far Nathan ... if i could help providing graphic related stuff pls don't hesitate to contact my anytime
« Last Edit: April 15, 2014, 09:26:18 pm by cassiopaia »
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