Author Topic: Burst and Qora might soon be able to do ACCT directly with BTC  (Read 6289 times)

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Offline Tuck Fheman

The lower Qora goes back down the less bter stole from you...

:(

1 QORA = 1 QORA. ;)
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Offline Ander

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The lower Qora goes back down the less bter stole from you...

:(
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Offline Tuck Fheman

BTER probably made out pretty well off of all the Qora they stole from people.  :-\

Maybe they'll use the stolen profits to pay back some of that BTC they owe ... lolz, just kidding.
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Offline Ander

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why would u sell all?

is the tech flawed or stalled?

You can only watch it sit at 3 for so long before getting out at 20 feels like a miracle. :P 

I was planning to buy back on a dip that didnt occur. :P
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Offline Ander

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i bought a lot of Qora at 5 like 18 montsh ago and sold a bunch at 9-10 last year and now the rest at 20 lol.  Shouldve held out longer.  Oh well.
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Offline tbone

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Holy shit, Qora kept on going and hit 50.

Bought a boatload of QORA at 10, sold about half at 65.  Will let the rest ride.  May consider replenishing some in the 30s if it gets there.

Offline Ander

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Holy shit, Qora kept on going and hit 50.
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Offline Ander

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I sold most of my Qora and Burst.  They had good rises.  Would buy again if they drop back down.
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Offline Ander

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This is old, and still no direct AT with BTC, but Burst and Qora are doing well!
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Offline jsidhu

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for ACCT with BTC you'd need and expiration of withdraw rights ... locktimeverify does the otherway round .. you can only withdraw AFTER "expiration"
I think tier nolan described how it may be possible in that thread
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Offline xeroc

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for ACCT with BTC you'd need and expiration of withdraw rights ... locktimeverify does the otherway round .. you can only withdraw AFTER "expiration"

Offline jsidhu

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Of course Bitshares has way more potential than these, I would never disagree with that.

But its worth throwing a small amount of funds at them because their market caps are very low.
Burst is worth less than 100k in total even after having gone up some the past several days.  For what could be the first coin to ever do an ACCT with Bitcoin, thats cheap.  Even if ACCTs dont end up being more than a curiosity, the publicity is generates from doing that would probably bring the price up a lot. 

Just put in .1 btc or something thats basically no risk and see what happens.  The market cap is so low that you can actually get a decent amount for that.
I think ian is still not certain its even possible with locktimeverify.. He doesnt understand p2sh well enough.
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Offline Ander

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Of course Bitshares has way more potential than these, I would never disagree with that.

But its worth throwing a small amount of funds at them because their market caps are very low.
Burst is worth less than 100k in total even after having gone up some the past several days.  For what could be the first coin to ever do an ACCT with Bitcoin, thats cheap.  Even if ACCTs dont end up being more than a curiosity, the publicity is generates from doing that would probably bring the price up a lot. 

Just put in .1 btc or something thats basically no risk and see what happens.  The market cap is so low that you can actually get a decent amount for that.


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Offline Akado

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This is so cool.
Wait, never mind.
We already have this.
Plugged in to existing exchanges too.
check out electrons.io

Yes, am shamelessly advertising it.

They are talking about Atomic Chain Transactions, directly from chain to chain, not needing a 3rd party for that. You're providing a bridging service using exchanges from what I understood. It's different. Chain to chain transactions could be what ultimately bring decentralized exchanges to cryptomasses if only they could keep up with the speed and make it user friendly, which I think wont be possible for quite a while.

You're right. What we have right now is the first iteration of what could possibly evolve into a true cross chain exchange platform. For instance, currently we support only going from Bts to Btc with a preset value driven from exchanges, but ideally, a platform should allow multiple currency pairs (bts : nxt, nxt : quora: , doge : nxt) etc with its value driven relative to btc rates.  Cross chain transactions are indeed very interesting and its something we really need to look into.

By no means am I undermining what they are building  and I apologize if I came off that way :)

I didn't mean you were undermining what they're doing. I was just stating it's different things. Still, like Tuck shared with us above, that technology still has bottlenecks which restrict its use so that isn't much of a problem atm.
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Tuck Fheman

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bytemaster: I think atomic cross-chain trades are … I’m trying to figure out the best words to describe it. It’s a technological curiosity, it’s something that’s technically possible but not practical in the wider sense.

bytemaster: It’s kind of like saying, “do you have a Morse code back up for your communication for the internet”. You’re not going to use Morse code over some slow protocol when you’ve got the Internet to communicate. Cross chain trading in that sense requires both parties be online, active and a lot of coordination between the different parts. The general concept is escrow transfers and as long as you have escrow transfers combined with provable receipt or provable payment channels it’s possible to do secure trading from chain to chain. And that’s all you really need. And ultimately it call comes down to timelock, I send you money and in order for you to claim it you’ve got to reveal the secret that allows me to claim your money … kind of deals.

bytemaster: So I see a place for it, I don’t know necessarily if it’s going to be with their scripting thing, but it’s not the way that most people will want to do exchanges. Most people probably prefer to use things like ShapeShift, BlockTrades, metaexchange, things like that to convert between things. Its low risk, your monies no sitting on the exchange and your counterparties always there. You don’t have to wait and find someone, is what it comes down to.

fuzzy: So it’s like an exchange vs a fiat gateway vs local bitcoins.

bytemaster: There’s places for all that stuff. But I think escrow transfer covers the use case better than atomic cross-chain trading. I think it’s an extremely small niche, extremely inconvenient, I guess I’d compare it to the old days of Skype or you know where you have to do all the firewall punch through and half the time it doesn’t work. It requires you to have a client that’s simultaneously talking on two networks. If you to automate it …

fuzzy: It just adds to much to it, to everything. If keep it simple stupid is the mantra, it’s not doing that.

bytemaster: Right. It’s trust is good in some sense, in that the more trust there is a system the more efficient it can be. And atomic cross-chain trading takes the lowest trust route to things. Which means it’s the most difficult to use. It’s the most expensive to use and the least convenient to use.

bytemaster: So that’s why I think it’s more of a curiosity than anything else. It’s great for all the chains that support it, cool but why do you care if you’re going to get better prices and higher volumes doing things on an exchange vs trying to find peers and do it directly. Why don’t we do trades on the forum person to person? It just doesn’t make sense when there’s a market with order books.


bytemaster: I’ve said it before, I don’t think atomic cross-chain trading … I think it’s a niche. It’s something you do because you can, not because it makes any type of economic sense. The only time I can see atomic cross-chain trading going on is in a world where governments shut down all intermediary exchanges like Shapeshift. Those intermediaries are so much more efficient than doing direct peer-to-peer trades between chains. Most users aren’t going to go through the ACCT path.

bytemaster: I think it’s an interesting concept but it’s doing something just because you can. There’s another aspect to it. CIYAM, which provides an alternative virtual machine to Ethereum, has offered to integrate his virtual machine with BitShares. And I’m very interested ___ concept. However, there are a lot of ideas out there about better approaches to blockchain based arbitrary smart contracts than using a Turing machine.