Author Topic: Overstock.com and Wired mention BitShares in "How to issue a cryptosecurity"  (Read 7278 times)

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Offline xeroc

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Wouldn't it make sense two say one bips is one "two billionth" of a share so it doesn't confuse people that they send 2 BTSX but 1 BIPS?
that was almost correct at the very beginning of the blockchain when no btsx had been destroyed
but currently on the blockchain

  "blockchain_share_supply": "1,999,653,857.43781 BTSX",

which is less than 2b .. continuously decreasing ... (I wonder i BM fixed a slight bug on that number as i also substracts delegate pays .. falsely)

so .. atm ... 1 BIPS is worth 1,999,653,857.43781 / 100 = 1,999,653.85743781 BTSX


BIPS (billionths of the current share supply)
« Last Edit: August 07, 2014, 02:48:02 pm by xeroc »

Offline santaclause102

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Wouldn't it make sense two say one bips is one "two billionth" of a share so it doesn't confuse people that they send 2 BTSX but 1 BIPS?

Offline xeroc

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AFAIR a bips is
"bishares in percentage of supply" (bips)
so not "the smalles unit"
the units are XTS (testnet) or BTSX and those can be devided in to 10^5 parts .. (dont think they have a name, lets call them toatsits :) .. or larimers .. or laris :) )

the bips (at least thats what i understand) are a percentage that increases as the supply decreases (by a constant amount of BTSX in your pocket)

anyway its just a relative measure of how many btsx you have in comparison to all existing .. and his number gives you an idea of what happens when delegates destroy XTS with payrates below 100% .. you get interest :)

Offline santaclause102

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the faq says
Quote
A BIP is one billionth of the current share supply
Am I right that one BIP is not the smallest unit of account you can send? Also it should be checked whether there could be a trademark problem or something like with Protoshares with BIPS, see https://bips.me/
« Last Edit: August 07, 2014, 08:27:19 am by delulo »

Offline xeroc

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that is exactly what BIPS are! they are just not yet implemented!

Offline Riverhead

I think we should also stress that everybody is earning in Bitshares. The current perception is that block producers earn in BTS, like in any other. But in this case the others besides Delegates earn too; they just get paid a bit extra for their trouble.

All these the little joe not getting his share in PoS due to having a small stake doesn't work here. You earn proportional to what you have, regardless of how much. In future we might have wallets which shows balance as a fraction (multiplied by a huge number) and users will be excited to see the balance grow.
That's a cool idea. Your shares are x percentage of supply. If there is one thing people like is a number going up and the feeling of winning just for holding shares.
I have to admit I still get a warm fuzzy feeling when my black coins mine some stake even though it is fractions of a penny.

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I think we should also stress that everybody is earning in Bitshares. The current perception is that block producers earn in BTS, like in any other. But in this case the others besides Delegates earn too; they just get paid a bit extra for their trouble.

All these the little joe not getting his share in PoS due to having a small stake doesn't work here. You earn proportional to what you have, regardless of how much. In future we might have wallets which shows balance as a fraction (multiplied by a huge number) and users will be excited to see the balance grow.

Offline fuzzy

I have been in agreement with agent86 for quite a long time here that the most important aspect of this system is voting on delegates.  This is actually the problem we have largely tried to tackle with the beyondbitcoinx.net site...creating incentives for delegates and the community to be as transparent about their operations as possible and incentivize them to propagate this transparent information through social networks, thus creating a larger and more precise target audience to the problems we face.  Lets face it, nearly all the people working in, and interested in crypto are motivated by a love of free markets, technological empowerment,  and/or competing for profit (as opposed to the direction we can generally admit most of the existing power structures would like to steer us).

Much of the DPOS systems primary insecurity is based solely around the vote (the human element is both empowering and dangerous). Make it easy to vote (or in the case of canonizer, join a camp) and get paid for it.  Limit the amount someone can paid for doing this at the correct ratio and you create a powerful system that adapts and gives consensus to pay for needed infrastructure.
« Last Edit: August 07, 2014, 01:28:55 am by fuznuts »
WhaleShares==DKP; BitShares is our Community! 
ShareBits and WhaleShares = Love :D

Offline CLains

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Quote
Bitshares uses a limited PoS system which adds unnecessary centralization to a PoS scheme

This is very biased...  I suggest we edit it out and link to the article we have under development on our forum regarding the implicit centralization and the marginal utility argument.

Good find. I just deleted it.. replied to some other issues as well.

I don't have sufficient information to respond to "The extent of security auditing is unclear."

I ventured the following guess that is simultaneously a hope,

"Sergio Lerner is the main security consultant for BitShares. Lerner is one of the most lauded security experts in the crypto space and was responsible for finding several of the most important security flaws ever found in Bitcoin."

Would be great with an even more convincing response though.

Offline bytemaster

Quote
Bitshares uses a limited PoS system which adds unnecessary centralization to a PoS scheme

This is very biased...  I suggest we edit it out and link to the article we have under development on our forum regarding the implicit centralization and the marginal utility argument.
For the latest updates checkout my blog: http://bytemaster.bitshares.org
Anything said on these forums does not constitute an intent to create a legal obligation or contract between myself and anyone else.   These are merely my opinions and I reserve the right to change them at any time.

Offline bytemaster

Could someone get on the Wiki and suggest they order platforms by marketcap as a fair / unbiased approach to the platforms and make edits to move us into 2nd place... no reason for Peershares to be ahead of us.
For the latest updates checkout my blog: http://bytemaster.bitshares.org
Anything said on these forums does not constitute an intent to create a legal obligation or contract between myself and anyone else.   These are merely my opinions and I reserve the right to change them at any time.

Offline CLains

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I learned more about bitshares on the overstock website then I ever did sifting through bitshares forums. Weird.

Great! We did an effort a while back to fill in the wiki.bitshares.org so now it was just a matter of doing an abstract with some sprinkled links. The combative spirit of the overstock wiki also forced an inclusion of some general worries with the appropriate answers to leave us looking good.
« Last Edit: August 05, 2014, 07:13:56 pm by CLains »

Offline fuzzy

I learned more about bitshares on the overstock website then I ever did sifting through bitshares forums. Weird.


EDIT: This was not a good way to say this. I'm working on not being so blunt. What I meant to say was that the information is easier to access on their website.

Why worry about being blunt?  Political correctness is so over-valued today...

On a secondary (yet related) note, BeyondBitcoinX.net is actually meant to try to improve upon the forum format for users to find and propagate information of pertinence. 
WhaleShares==DKP; BitShares is our Community! 
ShareBits and WhaleShares = Love :D

Offline wesphily

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I learned more about bitshares on the overstock website then I ever did sifting through bitshares forums. Weird.


EDIT: This was not a good way to say this. I'm working on not being so blunt. What I meant to say was that the information is easier to access on their website.
« Last Edit: August 05, 2014, 02:18:32 am by wesphily »

Offline Shentist

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added Forum data

---------------- Copy and Edit at will everyone! --------------------

Forum: 84833 Posts in 5825 Topics by 5444 Members
Reddit: 369
Twitter: 3872
BitcoinTalk Thread size: #Posts
Google “X and crypto”: 59 400
Number of Wallets:
Number of Wallets with more than $50:
Number of Transactions:
Weekly volume:
Asset Volume:
Market Capitalization: BitShares X 19 million, BitShares PTS 7.5 million

Blocktime

10 sec. Compare to NXT, Counterparty.

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Pros and Cons

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