Potential BitShares Road Map for 2016

[abit]

yeah, you get to vote for your miners just like we do, so everyone basically has the same incentive to not work against the team like we do. Nobody has been doublespent on that matters anyway.  All anyone cares about now is features, not decentralization or speed or scalability anymore.

 Blockshares, if you can't already tell from he name, is a general copy of BitShares' governance structure, except it is "real" like bitcoin and Nubits, and not "artificially" fake like BitShares/bitUSD, or so says the global leading smartcoin liquidity provider.

So it seems you're a Nubits fan? You think Nubits is successful. Yes, MtGox and Cryptsy were successful as well.

[abit]

I vote that we should wait until Nubits does it first (they should be launching soon):

https://bitcointalk.org/index.php?topic=1033773.msg11153629#msg11153629

"The Basics:

B&C Exchange will be an open-source decentralized exchange that completes cryptocurrency trades between users by utilizing multisig signers that compete for blockchain rewards based on their effectiveness and honesty. Trades will occur using real cryptocurrencies such as Bitcoin and NuBits, as opposed to artificial proxy cryptoassets like those found in BitShares."

Sounds interesting.. my questions here:
* "multisig signers compete for blockchain rewards"? How much "reward" is enough to avoid stealing customers' funds?
* "based on their effectiveness and honesty"? Historical honesty records is able to prove future honesty?

And more interesting thing is:
while we're building the bond market feature, most likely we'll build a reputation system, it will be more or less helpful to the side chain design. "Reputed signers hold the multi-sig private keys of the customer deposited funds".

[kingslanding]

- I can see adding sidechains for other major cryptos such as litecoin and peercoin.  Wouldn't it be possible now to trade amongst them as well?  Huge liquidity.

this may not by true... so do not take my words as final... but I think we could integrate with everycoin which has multisig. But... it will require to run full node of that client by all witnesses. So it would be difficult to run 20 full nodes of different coins. So (in my opinion) we should focus on:

* BTC
* ETH
* DOGE

If BTS exploded w/ each coin added, I don't think witnesses would mind running more nodes. 

Seriously, though, if a worker proposal for sidechains gets approved, we could immediately send a press release to create a buzz around the bitcoin world.

Plus, we would be in the good graces of the bitcoin centric guys

Yes, excellent point.

I think we should market a BTS-BTC sidechain like a theatrical release.  Promote & hype it until the release date.  Hit the trollboxes, the news outlets, get bytemaster to do some interviews (Daily Decrypt to start?),  etc.  Then, as the product gets developed show screenshots, weekly updates, testnet videos.  I liked the fact that Eric Martindale of Blockstream was excited to help out.  He would totally validate a bitshares-bitcoin synergy on the bitcoin side.

What would be a good release date?  It should be something everyone can remember:  July 20ish, 2016, the bitcoin halving date!  Not sure how long development would take, but if it could be done sooner, the extra time could be used to fully test it.  If later, well let's get this sucker approved to get there!

[Erlich Bachman]

This is a critical consensus.

We need to know what our market would get the most use from immediately.

If we choose correctly, then we will get development funding for the next item on the list.

Get it?

We will have a better chance of reaping more future rewards as a community instead of begging uncle onceuponatime for another loan at infinite interest (no offense of course, I'm actually very grateful, but our ultimate goal is profitability)

[Akado]

- I can see adding sidechains for other major cryptos such as litecoin and peercoin.  Wouldn't it be possible now to trade amongst them as well?  Huge liquidity.

this may not by true... so do not take my words as final... but I think we could integrate with everycoin which has multisig. But... it will require to run full node of that client by all witnesses. So it would be difficult to run 20 full nodes of different coins. So (in my opinion) we should focus on:

* BTC
* ETH
* DOGE

If BTS exploded w/ each coin added, I don't think witnesses would mind running more nodes. 

Seriously, though, if a worker proposal for sidechains gets approved, we could immediately send a press release to create a buzz around the bitcoin world.

Plus, we would be in the good graces of the bitcoin centric guys

[cylonmaker2053]

Sidechains <-- OK, but i'm more a fan of supporting anything to do with the trading experience

@cylonmaker2053 this should be our priority. This will bring liquidity to all BTC:XYZ exchanges. Right now to trade with BTC you need 200% collateral, what makes, that less BTC circulate in the network... and people do not like that. With sidechain (first bitcoin, ethereum next) we will have exactly 100% collateral. This will give us very big boost... not mentioning about fame an all news services, because bitshares will be first cruptocurrency which is sidechain of bitcoin!

sounds good to me. i admit, sidechains are a bit over my head, but sound cool

[kingslanding]

- I can see adding sidechains for other major cryptos such as litecoin and peercoin.  Wouldn't it be possible now to trade amongst them as well?  Huge liquidity.

this may not by true... so do not take my words as final... but I think we could integrate with everycoin which has multisig. But... it will require to run full node of that client by all witnesses. So it would be difficult to run 20 full nodes of different coins. So (in my opinion) we should focus on:

* BTC
* ETH
* DOGE

If BTS exploded w/ each coin added, I don't think witnesses would mind running more nodes. 

Seriously, though, if a worker proposal for sidechains gets approved, we could immediately send a press release to create a buzz around the bitcoin world.

[Akado]

Once we figure out how to implement sidechain for bitcoin, wouldnt in theory be much easier to do the same for other coins like litecoin and doge?

Sidechains <-- OK, but i'm more a fan of supporting anything to do with the trading experience

@cylonmaker2053 this should be our priority. This will bring liquidity to all BTC:XYZ exchanges. Right now to trade with BTC you need 200% collateral, what makes, that less BTC circulate in the network... and people do not like that. With sidechain (first bitcoin, ethereum next) we will have exactly 100% collateral. This will give us very big boost... not mentioning about fame an all news services, because bitshares will be first cruptocurrency which is sidechain of bitcoin!

 
All the roadmap proposals are great once people are in the bitshares environment.  Sidechains is the only one that also actually gets people there.  These are the points (already made) that convinced me:

- Yes, sidechain 1st mover exposure would be huge.  Viral marketing without the cost.

- We'd be equivalent to any exchange out there but private (ie. stealth) and decentralized.  It would open up a market for whale traders who want to remain anonymous.

- I can see adding sidechains for other major cryptos such as litecoin and peercoin.  Wouldn't it be possible now to trade amongst them as well?  Huge liquidity.

 

[mike623317]

- I can see adding sidechains for other major cryptos such as litecoin and peercoin.  Wouldn't it be possible now to trade amongst them as well?  Huge liquidity.

this may not by true... so do not take my words as final... but I think we could integrate with everycoin which has multisig. But... it will require to run full node of that client by all witnesses. So it would be difficult to run 20 full nodes of different coins. So (in my opinion) we should focus on:

* BTC
* ETH
* DOGE

Agreed 

[noisy]

- I can see adding sidechains for other major cryptos such as litecoin and peercoin.  Wouldn't it be possible now to trade amongst them as well?  Huge liquidity.

this may not by true... so do not take my words as final... but I think we could integrate with everycoin which has multisig. But... it will require to run full node of that client by all witnesses. So it would be difficult to run 20 full nodes of different coins. So (in my opinion) we should focus on:

* BTC
* ETH
* DOGE

[kingslanding]

Sidechains <-- OK, but i'm more a fan of supporting anything to do with the trading experience

@cylonmaker2053 this should be our priority. This will bring liquidity to all BTC:XYZ exchanges. Right now to trade with BTC you need 200% collateral, what makes, that less BTC circulate in the network... and people do not like that. With sidechain (first bitcoin, ethereum next) we will have exactly 100% collateral. This will give us very big boost... not mentioning about fame an all news services, because bitshares will be first cruptocurrency which is sidechain of bitcoin!

 
All the roadmap proposals are great once people are in the bitshares environment.  Sidechains is the only one that also actually gets people there.  These are the points (already made) that convinced me:

- Yes, sidechain 1st mover exposure would be huge.  Viral marketing without the cost.

- We'd be equivalent to any exchange out there but private (ie. stealth) and decentralized.  It would open up a market for whale traders who want to remain anonymous.

- I can see adding sidechains for other major cryptos such as litecoin and peercoin.  Wouldn't it be possible now to trade amongst them as well?  Huge liquidity.

[Akado]

Me too, so why don't we start that before the bond market, and get some of that Ethereum pump while it's still strong.

The bond market still needs to simmer until the DEX liquidity reaches critical mass.

If we get some Ether pump, then we will have more $ for development.

So as I see it:

1. liquidity subsidy
2. rate limited fee options
3. Faster Ethere VM
4. Bond Market

Sidechains should be #3 or #4 depending on the amount of time it takes, assuming #1 and #2 are relatively fast to implement? We should have it before the bond market I guess. 100% collateral only sounds very attractive. Bond market just seems like a nice complement for that.

All of that together... seems pretty nice, hopefully it will get the use it deserves. But it's a nice combo there. You can now create MPAs with 100% collateral only, trade them with no fees and you even get paid for providing liquidity.

[giant middle finger]

Me too, so why don't we start that before the bond market, and get some of that Ethereum pump while it's still strong.

The bond market still needs to simmer until the DEX liquidity reaches critical mass.

If we get some Ether pump, then we will have more $ for development.

So as I see it:

1. liquidity subsidy
2. rate limited fee options
3. Faster Ethere VM
4. Bond Market

[Akado]

@Akado new thoughts about bond market is here: https://bitsharestalk.org/index.php/topic,21700.0.html

BM also mentioned EVM in last week's mumble hangout.

@abit
Updated bond markets with the discussion post and added a little more description on Sidechains. Feel free to correct or suggest other description

EVM is already mentioned on the "others" section. Would like to have a brief description of it though, what it could accomplish and how it would help BitShares. Atm I only have that one sentence saying "Ethereum contracts but faster" which is what I got from the Mumble.

[noisy]

Sidechains <-- OK, but i'm more a fan of supporting anything to do with the trading experience

@cylonmaker2053 this should be our priority. This will bring liquidity to all BTC:XYZ exchanges. Right now to trade with BTC you need 200% collateral, what makes, that less BTC circulate in the network... and people do not like that. With sidechain (first bitcoin, ethereum next) we will have exactly 100% collateral. This will give us very big boost... not mentioning about fame an all news services, because bitshares will be first cruptocurrency which is sidechain of bitcoin!