Author Topic: UIA Help  (Read 1118 times)

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Offline bitacer

UIA Help
« on: December 08, 2015, 08:50:40 am »
One thing I dont understand about UIAs is that once the issuser issues certain amount of assets and those assets start being traded what will stop the issuer from decreasing the price or diluting the market ? Lets say  I issued an asset for 1 BTS each and as I see it in settings I am able to adjust its price or issue more , I dont quite get that .

jakub

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Re: UIA Help
« Reply #1 on: December 08, 2015, 10:48:11 am »
That's the very nature of UIAs - the issuer can do whatever s/he likes with their UIA.
The only thing s/he cannot do is acquire more power / privileges retroactively.

But if you buy a UIA which allows the issuer to print it without limits - that's the risk you need to take into account.
The only thing that keeps the issuer of a UIA in check is their reputation.

Offline fav

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Re: UIA Help
« Reply #2 on: December 08, 2015, 10:51:49 am »
you can irreversibly lock down those functions. just read the UIA creating stuff in the client

Offline bitacer

Re: UIA Help
« Reply #3 on: December 08, 2015, 10:56:33 am »
That's the very nature of UIAs - the issuer can do whatever s/he likes with their UIA.
The only thing s/he cannot do is acquire more power / privileges retroactively.

But if you buy a UIA which allows the issuer to print it without limits - that's the risk you need to take into account.
The only thing that keeps the issuer of a UIA in check is their reputation.

How can limit the max amount , can I lock it so even I cant change it as the issuer.

Offline bitacer

Re: UIA Help
« Reply #4 on: December 08, 2015, 11:07:52 am »
you can irreversibly lock down those functions. just read the UIA creating stuff in the client

Which function can lock the max amount so it can not be changed ?

Offline abit

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Re: UIA Help
« Reply #5 on: December 08, 2015, 11:16:41 am »
you can irreversibly lock down those functions. just read the UIA creating stuff in the client

Which function can lock the max amount so it can not be changed ?
I don't think there is a flag to lock max amount.
An alternative is to change the owner to null-account so that no one can change any parameters of that asset any more.
BTS account: abit
BTS committee member: abit
BTS witness: in.abit

Offline bitacer

Re: UIA Help
« Reply #6 on: December 08, 2015, 11:20:08 am »
you can irreversibly lock down those functions. just read the UIA creating stuff in the client

Which function can lock the max amount so it can not be changed ?
I don't think there is a flag to lock max amount.
An alternative is to change the owner to null-account so that no one can change any parameters of that asset any more.
Whats a null acount ?

Offline abit

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Re: UIA Help
« Reply #7 on: December 08, 2015, 11:40:46 am »
you can irreversibly lock down those functions. just read the UIA creating stuff in the client

Which function can lock the max amount so it can not be changed ?
I don't think there is a flag to lock max amount.
An alternative is to change the owner to null-account so that no one can change any parameters of that asset any more.
Whats a null acount ?
"null-account" is an account which controlled by no one.
"BTS" asset is owned by "null-account".
Try "Explore -> accounts -> null-account " in the GUI, or try these commands in CLI:
Code: [Select]
get_asset BTS
get_account null-account
BTS account: abit
BTS committee member: abit
BTS witness: in.abit

Offline bitacer

Re: UIA Help
« Reply #8 on: December 08, 2015, 12:02:41 pm »
So I set the owner as null-account and no one can change the parameters anymore , right ?

Offline bitacer

Re: UIA Help
« Reply #9 on: December 08, 2015, 12:24:28 pm »
Well I updated the owner to null-account, off it goes. The name of the UIA is BRICS.