Author Topic: Professional writer who understands all the details  (Read 33497 times)

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Offline gamey

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I also need to upgrade the techtalk article about Voting

"techtalk article" ?
I speak for myself and only myself.

Offline xeroc

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+5%

I also need to upgrade the techtalk article about Voting

merockstar

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I have finalized both articles and will be posting them shortly. am now starting work on "DACs as social dilemma solving machines"

if anybody knows of any relevant posts pertaining to this subject it would be tremendously helpful.

https://bitsharestalk.org/index.php?topic=3488.msg43785

But I think we should skip this topic and move to the more concrete / immediate ones

DPOS and evolution of blockchain security model? You lead the way, powdered toast-man, and I shall follow.

just saw what clout did on the google drive and holy shit! don't need to ask for people to refer me to threads anymore. but if you want to thats still welcome :)

final drafts:
http://www.devtome.com/doku.php?id=bitshares_-_airdrops_and_snapshots
http://www.devtome.com/doku.php?id=bitshares_-_market_pegging

« Last Edit: June 25, 2014, 07:37:43 am by merockstar »

Offline toast

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I have finalized both articles and will be posting them shortly. am now starting work on "DACs as social dilemma solving machines"

if anybody knows of any relevant posts pertaining to this subject it would be tremendously helpful.

https://bitsharestalk.org/index.php?topic=3488.msg43785

But I think we should skip this topic and move to the more concrete / immediate ones
Do not use this post as information for making any important decisions. The only agreements I ever make are informal and non-binding. Take the same precautions as when dealing with a compromised account, scammer, sockpuppet, etc.

merockstar

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I have finalized both articles and will be posting them shortly. am now starting work on "DACs as social dilemma solving machines"

if anybody knows of any relevant posts pertaining to this subject it would be tremendously helpful.

Offline metalallen

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Bitshares solves all the inherent problems of bitcoin:

- slow transactions per second when compared to a major payment processor like visa (7 tps vs 10,000 tps)
- wallets are machine readable not human readable (as a result something like 5% of btc have been irrevocably lost)
- transactions are not anonymous
- distribution model is inflationary, even if the argument can be made that the inflation has been priced in
- price volatility (obviously this is the biggest deterrent when it comes to adoption as a major currency)
- security of the network cost anywhere from $500 million to $1 billion annually depending on the bitcoin market capitalization
- control of the network is proportional to hashing power not proportional to you relative bitcoin holdings
- centralization of hashing power under the control of a single mining pool

How Bitshares solves these issues:

- DPOS reduces block production to 15-30 seconds and since computational resources are used for the purpose of transaction propagation and confirmation rather than pointless computational work, DPOS blockchains can scale to the transaction load of visa
- Bitshares uses accounts that can be registered on the blockchain. Users no longer need to send money to an alpha numeric string that can be miscopied. Instead you send money as easily you would send an email and in the exact same fashion. It is very difficult to send to a wrong account. You can still send to public keys but its unnecessary and adds little advantage
- Bitshares uses TITAN which automates the creation of stealth address using an accounts registered public key. No need for mixing or "masternodes." All transactions are inherently anonymous without the user needing to do anything
- Bitshares is a 100% proof of stake system so all the shares are pre-allocated and there is no need for the dilution of stake
- Bitshares X is a bank that allows people to hold deposits in whatever asset they want. This system allows investors with a higher risk tolerance to collateralize and trade virtual assets, to ensure that users who simply want to use crypto currencies as a stable medium of exchange can do so without risk due to the volatility of the networks main equity/currency. (That is to say that if you put $100 in the network your deposit always redeemable for $100 worth of bitshares, as a result of the free market peg of bitUSD to real USD)
- The cost of securing the network is simply a fraction of the transaction fees accumulated by the network. Transaction fees are destroyed which acts as an implicit dividend to holders of bitshares and makes Bitshares truly deflationary.
- Delegates compete for votes and the top 101 delegates produce blocks. The job of a delegate is simple include as many valid transactions
in your given block and sign a single block. If a delegate signs multiple blocks they are immediately fired. If a delegate blocks transactions they will be voted out of office. Each round delegates are randomly assigned a block to produce thereby making it that much harder to coordinate a sustained attack on the network without 51% of the shares.
- Shareholder votes are proportionate to the relative number of shares they own. The DAC is completely shareholder run

Bitshares solves all the problems of bitcoin and does not overcomplicate things in the way that Ethereum does. When you view these crypto currencies networks through metaphor of a company you realize how misinformed people are about how these networks should be designed.  It is imperative that the developers of a crypto currency network have a solid understanding of economics and I believe that Dan Larimer and his team have the best economic perspective  in the crypto currency space. To be honest if you truly evaluate the fundamentals ethereum is just not even comparable, both as a crypto network and as an investment. People need to stop buying into hype and do the necessary research before they invest.

I translated this into Chinese. Hopefully it will help newbies in China to see the whole picture.
https://bitsharestalk.org/index.php?topic=5290.0

https://bitsharestalk.org/index.php?topic=5213.msg69186#msg69186
I translated this into Chinese. Hopefully it will help newbies in China to see the whole picture.
https://bitsharestalk.org/index.php?topic=5290.0

早上看到alt推荐的英文贴,觉得这是个挺通俗易懂的扫盲贴所以就翻译了过来,并添加了少许个人见解,或许能帮助新人们更好的了解Bitshares。翻译水平有限,还请各位大力斧正。 ;D

英文原帖:https://bitsharestalk.org/index.php?topic=5213.msg69186#msg69186

译文:
我们为什么要支持比特股?

比特股解决了下列比特币所有的固有问题:
- 缓慢的每秒交易速度,尤其是和像Visa这样的系统进行对比(每秒7次交易 VS 每秒上万次交易);

- 钱包只能是机读的,可能造成钱包文件、密码、密匙的丢失(这导致了有5%左右的比特币已经彻底丢失);

- 交易不是匿名进行的;

- 分发方式是通胀的,即时有说法认为这种通胀已经被市场消化了;

- 价格波动。显然这对要成为一种主要货币的比特币来说是最大的硬伤;

- 每年在网络安全上的花费在5亿美元到10亿美元,具体数字取决于比特币的总市值;

- 对比特币网络的控制权和算力大小成正比,而不是和个体拥有的比特币数量成正比;

- 一个拥有巨大算力的矿池就能导致中心化。

比特股怎么解决这些问题?
- DPOS算法将出块时间减低到15-30秒,并把算力资源应用到交易广播和确认上而不是浪费在无意义的计算上。这使得DPOS块链可以承载Visa级别的交易量;

- 比特股的交易地址用的是可以在块链上注册的账号。使用者不用再将钱发送到一串很长的数字字母混合的地址上,并且在拷贝地址过程中有可能误操作。比特股使用者可以像发送邮件一样很简单的给各个账号汇款,这很简单并不容易发错。同时,你也可以选择发送到账号对应下的公共密匙地址(一串很长的数字字母的混合)上,但并没这必要;

- 比特股使用了TITAN技术,它能够在交易中让用户的账号和公共密匙自动“隐身”。不用再混合或使用主节点。所有的交易本质上都是匿名的,而过程中无需用户做任何事情;

- 比特股是100%的POS分发系统,所以所有股份都是预分配的,也没有必要对股权进行稀释;

- 比特股X是一个允许人们存储任何形式虚拟资产的银行。这个系统允许具有较高风险承受能力的投资者们抵押和交易虚拟资产,并确保了用户可以使用币值稳定的加密货币作为交易媒介,剔除了汇率波动带来的风险(也就是说,如果你在比特股X中存入100美元,你总会得到价值100美元的比特资产,因为在自由市场上100比特美元锚定了100美元);

- 网络安全方面的花费仅仅是在比特股网络中累积起来的交易费的一小部分。交易费,像比特股持有者的隐藏分红一样的形式被摧毁,这会让比特股持续通缩;

- 系统中的受托人们会竞争选票,由得票最多的前101名受托人来进行出块的工作。受托人的工作简单来说,他需要在包含很多有效交易信息的区块中签名一个块。如果一个受托人签了多个块,那他将会被立刻解雇。如果受托人阻挡了交易进行那他也会被踢出局。因为每一轮受托人们都是随机签名,并没有固定顺序,所以这个系统很难被持续攻击;

- 股份持有者的投票力度是跟他的持股数量成正比的。DAC完全是股份持有者们在运营。

比特股可以解决比特币的所有问题,又并不是像以太坊那样在做过于复杂的东西。当你发现你可以用看待一个公司的方式来看待加密货币网络的时候,你会意识到很多人误解了这些网络该如何设计。至关重要的是,加密货币网络的开发人员应该对经济方面有深刻的认识。我认为BM和他的团队在经济方面和加密货币领域的认识都有很深刻的认识和研究。说实话,如果你认真评估一下以太坊的设计基础,你会发现无论在加密网络还是投资前景方面都跟比特股不具可比性。人们需要停止炒作,最起码在投资前你要对项目做必要的研究。
浮壹白的微博:http://weibo.com/u/2279693077
BTSX Account:metalallen

merockstar

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xeroc, that is some really solid feedback there sir. i thank you for it.

merockstar

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merockstar,

I am probably well on your nerves already, so this is my final suggestion/request for change in this writing BUT:

You just cannot leave the word ‘arbitrage’ there… if arbitrage was an option there would be no experiment involved, it would be certainty.

no no no you are absolutely NOT on my nerves. good writers value criticism like gold (or should i say BitShares). anything else you see, drop it on me. I can take it.

and thank you.

Offline tonyk

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merockstar,

I am probably well on your nerves already, so this is my final suggestion/request for change in this writing BUT:

You just cannot leave the word ‘arbitrage’ there… if arbitrage was an option there would be no experiment involved, it would be certainty.
« Last Edit: June 24, 2014, 06:11:12 pm by tonyk »
Lack of arbitrage is the problem, isn't it. And this 'should' solves it.

Offline xeroc

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Quote
None of these bitAssets will exist when the exchange first comes out. They get
created when people place bets that the price of these real world assets will go
down, to facilitate these bets, BitSharesX will have something akin to a
prediction market, enabling people to profit from the view that a given asset
will go down in value. Placing such a bet is called shorting.
Could you compare shorting to lending from the System .. instead of lending from
a broker/bank? .. reading more of the article I relized that the guy how went
short is lending the asset to someone else ... seems to work out .. maybe I was
wrong with the economics :)

Quote
The system holds this BitAsset until somebody decides to accept their bet by
taking a long position on the asset. When somebody takes a long position against
an asset they are simply purchasing the newly created BitAsset from the system,
and the system gives the BitShares paid for that bitAsset back to the person who
did the shorting.
What does this mean for the 'price' of an asset when a shorting finds a partner
going long?

Quote
On the flipside, if the person doing the shorting was incorrect in the thinking
the value of the asset would fall then it would cost them more of their
bitshares to buy back enough of the bitAsset to close out their position. If the
value goes up 50% to 1.5x the starting price then the network uses the
collateral to buy the amount of the bitAsset that was created back from the
market, destroys it and returns the remaining collateral minus a 5% fee for
letting the system close their position for them which gets destroyed. When the
system closes a short position for somebody this referred to as a margin call.
This removes the extra value from the market that was created when the bitAsset
came into existence.
So why do I have to pay 2x to buy the asset and get margin called when the price
rises to 1.5x? why not later when price is at 2x?

Quote
You might be wondering how we know that the bitAssets that get created through
this process will stay the same price as their real-world asset counterparts.
This price tracking occurs as a result of the belief by the majority of
participants in the market that this bitAsset will be pegged to the price of the
real world asset. If the price were to somehow deviate, perhaps from somebody
making an incredibly large buy or sell order for a bitAsset, then the rest of
the world knows that the bitAsset is supposed to be the same price as the real
world asset, and they will buy and sell accordingly, hoping to profit. Arbitrage
is what ensures that the price of a bitAsset will equal the price of a real
asset.
The tech guys usually call this a "negative feedback" .. just fyi

Quote
Let me explain what I mean by that, the easiest way to do so is to use an
example such as the one bitsharetalk forum member, and code contributer 'toast'
walked me through [citation]. It involves imagining every possible scenario that
involves the price of a bitAsset deviating from the price of it's real world
asset. The hidden secret here is the precedent established by everybody knowing
that a bitUSD should be worth about a dollar. As long as most people agree with
that precedent then disagreeing with it will not result in profit for you. Say
you're a naysayer, and you think a bitUSD is actually going to be worth ninety
cents, this means you would likely short at ninety-five cents or a dollar- but
if the price goes up to a dollar you're going to be stuck covering your
position, which involves buying some bitUSD helping push the price up. On the
other hand, if you think a bitUSD is worth $1.10, it would make sense to buy at
$1.05 but if the price falls back to a dollar you would only be able to get out
at a loss. Now let's look at how that would play out for somebody who agrees
that a bitUSD is worth a dollar. If the price were to fall to ninety-five cents
you would buy it, pushing up the price a little, so that you could sell at a
dollar. If it were $1.10 you would short it, creating new bitUSD and pushing
the price down a little bit, so the cycle is self-perpetuating. Knowing that
most other people agree that the price of a bitUSD should be a dollar would
cause you to take actions that support that assertion in the interest of your
own profit.
Let's now just assume a dollor is worth a US dollar :) ... just kidding ;)


my 2 PTS:
awesome article ... easy to read and understand for a technician as I am one ..
I have no clew about economics but your article is very clear to follow and
absolutely makes sense .. I wish I could just by even more BTS!

+5%

Offline xeroc

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Just my 2PTS for the Airdropping article. Need a little more time for the
MarketPeg.

Quote
You simply include them in the blockchain from the beginning.
... So to say in the first block (called genesis block) all investors start with
an initial transaction or stake ...

Quote
This would also cause the community to embrace your project more
enthusiastically, and give you a place you could get technical support in
maintaining your DAC where needed.

... Developers would gain technicall support aswell as marketing ...

Besides that: Just an awesome article!
PM me your PTS address I will send you a tip. Never mind .. found it! 93c3a81f4de18b5fd5e89f9fa56ffbc91e6acb717bbbc31ead8a7b3a2f47dcb5
« Last Edit: June 24, 2014, 07:59:19 pm by xeroc »

merockstar

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I've gone ahead and revised my articles with all the suggestions that have been posted so far. Toast, I really couldn't come up with a way to explain the market pegging thing any better than you did, so I basically went with your example (but I intend to cite you as well). Can anybody think of any other ways I could expand on the topic of innovativeness as it pertains to market pegging?

As for the airdrop/snapshot article, I think it's almost done. I did a few minor edits to it, and I'm posting it here for people to have one more look over. If nobody has any further input I'm going to go ahead and call that one a wrap and post it in various places tomorrow.

I'm doing something to promote angelshares. I think I'm going to take a few days off from writing this after I publish the airdrop article, and start putting some effort into that before I return to this thread and continue to work down toast's list. I'm on this hardcore now. In the meantime, any feedback that can be offered on the current iteration of the market pegging article would be invaluable.

Anyway, here's the most current iterations of both articles.



Airdrops and Snapshots final draft

You're going to hear the phrases "snapshots," and "airdrops," thrown around quite a bit in the Bitshares community. What are they and what role do they play in the DAC biosphere?

The term "airdrop" was first popularized by the Auroracoin project. The Auroracoin devs thought it would be a good idea to try and bring digital cryptocurrency a little closer to mainstream by premining half a coin, and earmarking it for distribution to a specific demographic, in this case, the population of Iceland.

The Auroracoin team achieved this by using a system set up by the Icelandic government to keep track of their population to verify that they were only handing out coins to Icelandic citizens. Although this is not the only means by which an airdrop can be carried out.

To be clear, "airdrop" does not refer to literally physically dropping anything out of an airbound vehicle, although that would certainly be neat to watch. What it does refer to is any means of distribution of a coin, or in the case of DACs, shares, which are basically coins but tailor-made to suit the purposes of a specific DAC and it's corresponding blockchain.

Developers who create DACs by using the Bitshares toolkit, angelshare funds, or who just want the support of the Bitshare community are expected to honor what the community refers to as a "social consensus," which asks that they airdrop a certain percentage of their coin's initial public offering to holders of PTS and AGS, or if the DAC doesn't work that way contrive a way to otherwise honor said PTS and AGS holders.

In a typical scenario this would be effectuated by means of a snapshot. Snapshot is a pretty apt metaphor here, when you take a picture with a camera, you're freezing time in a manner of speaking. In DAC-speak a snapshot also means to freeze time, but instead of taking a real-world image, you're taking a picture of the blockchains for different coins.

For those not yet familiar a blockchain is a freely distributed public ledger containing every transaction that has ever taken place in a cryptocurrency. This means that a blockchain contains up-to-date information about the balances of every single wallet, even yours. A snapshot is actually taking a picture of those balances.

Angelshares do not have a blockchain, but there is a means in place by which the same effect can be achieved.

So imagine that you've developed a new DAC, coded it up and you're all ready to go. You decide to honor the social consensus by airdropping a certain percent of your initial coin/share distribution to PTS/AGS holders, so you take a snapshot. Now you have a list of wallets belonging to the holders of PTS and AGS that you'd like to honor. Through programming magic you can now reward those groups of people for their support by designating a certain amount of your premine to be distributed proportionally to the wallets on those lists. You simply include them in the blockchain from the beginning.

When holders of PTS and AGS see that you've done this they can download the client for your new DAC and there will be an easy to use tool made available that you can point at the wallets you're using to donate to angelshares or to hold an honored currency, which will communicate to the new DAC that you are the holder of those coins, and you'll get credited the balance.

All this kind of begs the question, if you were making a DAC why on earth would you WANT to use a snapshot to airdrop a premine out to people? Well, the main motivation here is that honoring this social consensus by allocating at least ten percent of your initial shares to AGS donators, and ten percent to PTS holders, gets the support of the Bitshares community behind you. This would open up the door to getting marketing help from both the community. This would also cause the community to embrace your project more enthusiastically, and give you a place you could get technical support in maintaining your DAC where needed.

Additionally, honoring the social consensus causes Invictus to be on your side. Depending on the availability of funds, which get replenished from time to time when new snapshots are released, and the amount of other projects currently being backed by the company, support from Invictus, per Stan, could potentially include legal help getting your company set up in it's chosen favorable jurisdiction, literal office space at Invictus' US headquarters at Virginia Tech, help putting together a website while you work on more important things, legal help on the financial end of things, use of Invictus' trusted escrow service, consultation with Bytemaster (Dan Larimer) and other really smart people for help making your code better, help with finding conferences to speak at for marketing your DAC as well as promotional support within the bounds of Invcitus' global marketing campaign. [citation for Stan's post here]

Individual BitShares delegate, who will be given to opprtunity to spread Angelshares funds out through a program of "smart spigots," may also choose to toss you some startup cash at their discretion. [citation]

What kind of support, and how much of it your DAC could get from invictus depends on certain factors including but not limited to how promising the community deems your business model to be, what technologies you choose to use to implement your business model, whether or not you've selected an optimal legal jurisdiction for your DAC to flourish, how qualified you and your team is to make it happen, and how popular your idea is. [citation]

Snapshots aren't limited exclusively to PTS and AGS, you could give a portion of your premine to the Peercoin community if you wanted simply by tacking on a snapshot of their blockchain. This allows you to kickstart a community for your DAC by having a certain percentage of your coins/shares distributed to a demographic who already knows what to do with them. This is a huge advantage in and of itself because since the alt-coin explosion earlier this year just about any demographic you can think of is already represented by an alt-coin of some kind. Let me toss a couple examples out there. Protoshares would be a way of targetting more technically oriented people interested in business. Angelshares might be a way of targetting a group of people more likely to donate to some cause or participate in an IPO. If you're trying to target the meme loving redditors of the world you could include dogecoin in your airdrop. If you had a DAC that you want to get into the hands of scientists you might consider airdropping to Primecoin. If you're trying to undercut a competitor you may even consider airdropping to their coin! Possibilities are limitless and growing with each to addition to the cryptocurrency world.

In effect, the existence of blockchains make possible a system of rewarding early investors in a manner similar to a public IPO, except one need not be an accredited investor to get in on it. The ability to airdrop coins allows for you to start with a nice, diverse community of holders who are already a part of the crypto-world, ready to get behind your DAC and give it value from the get-go.



Market Pegging third draft

Market pegging is a term to describe how the value of bitAssets will be equal to about the value of their real world counterparts. Anything in the real world that has value can theoretically be represented as part of the BitShares X banking and exchange platform, examples: bitUSD, bitEuro, bitGOLD, bitBTC, bitDiapers, bitOil etc. At first the software will focus on fiat currencies but later will expand to include other commodities. This will be accomplished through several different iterations of BitShares X which will have different letters attached to the end of their names.

None of these bitAssets will exist when the exchange first comes out. They get created when people place bets that the price of these real world assets will go down, to facilitate these bets, BitSharesX will have something akin to a prediction market, enabling people to profit from the view that a given asset will go down in value. Placing such a bet is called shorting.

When somebody is shorting an asset this means they think the price of said asset will fall with respect to the price of BitShares, the currency that's to be used as collateral for placing these bets. They put an amount of BitShares equal to twice the value of the amount of the asset they want to short up to be held by the system as collateral, and the system creates an appropriate amount of bitAssets to match the value of half that collateral.

The system holds this BitAsset until somebody decides to accept their bet by taking a long position on the asset. When somebody takes a long position against an asset they are simply purchasing the newly created BitAsset from the system, and the system gives the BitShares paid for that bitAsset back to the person who did the shorting.

Now the person who went short has half the amount of BitShares that they put up as collateral back, the person who went long has the bitAsset, and the system is still holding the collateral that was put up by the person doing the shorting until the person shorting it decides to close their position.

At this point, the person who bought the bitAsset can disappear and do whatever they want with it, if they choose. To close their position, the person doing the shorting will have to purchase an amount of the bitAsset from an exchange equal to what's been created so they can reclaim their collateral. When they do this, if they were correct and the price of the bitAsset has fallen, then it will cost them less bitShares to buy the asset back to cover their position and the difference is profit for them.

On the flipside, if the person doing the shorting was incorrect in the thinking the value of the asset would fall then it would cost them more of their bitshares to buy back enough of the bitAsset to close out their position. If the value goes up 50% to 1.5x the starting price then the network uses the collateral to buy the amount of the bitAsset that was created back from the market, destroys it and returns the remaining collateral minus a 5% fee for letting the system close their position for them which gets destroyed. When the system closes a short position for somebody this referred to as a margin call. This removes the extra value from the market that was created when the bitAsset came into existence.

You might be wondering how we know that the bitAssets that get created through this process will stay the same price as their real-world asset counterparts. This price tracking occurs as a result of the belief by the majority of participants in the market that this bitAsset will be pegged to the price of the real world asset. If the price were to somehow deviate, perhaps from somebody making an incredibly large buy or sell order for a bitAsset, then the rest of the world knows that the bitAsset is supposed to be the same price as the real world asset, and they will buy and sell accordingly, hoping to profit. Arbitrage is what ensures that the price of a bitAsset will equal the price of a real asset.

Let me explain what I mean by that, the easiest way to do so is to use an example such as the one bitsharetalk forum member, and code contributer 'toast' walked me through [citation]. It involves imagining every possible scenario that involves the price of a bitAsset deviating from the price of it's real world asset. The hidden secret here is the precedent established by everybody knowing that a bitUSD should be worth about a dollar. As long as most people agree with that precedent then disagreeing with it will not result in profit for you. Say you're a naysayer, and you think a bitUSD is actually going to be worth ninety cents, this means you would likely short at ninety-five cents or a dollar- but if the price goes up to a dollar you're going to be stuck covering your position, which involves buying some bitUSD helping push the price up. On the other hand, if you think a bitUSD is worth $1.10, it would make sense to buy at $1.05 but if the price falls back to a dollar you would only be able to get out at a loss. Now let's look at how that would play out for somebody who agrees that a bitUSD is worth a dollar. If the price were to fall to ninety-five cents you would buy it, pushing up the price a little, so that you could sell at a dollar. If it were $1.10 you would short it, creating new bitUSD and pushing the price down a little bit, so the cycle is self-perpetuating. Knowing that most other people agree that the price of a bitUSD should be a dollar would cause you to take actions that support that assertion in the interest of your own profit.

This system of market pegging is what makes BitShares X use as a bank possible. The creation of what might be thought of as the crypto equivalent to fiat currencies creates a more stable alternative to traditional cryptocurrencies for the time being, defeating the argument that instability will prevent cryptocurrencies from ever being more widely used. This also enables people who value stability in their currency to truly approach a blockchain as a means of storing their wealth, until the market cap of an actual cryptocurrency is high enough to create stability in its own right.

***lead into intro to BitShares X here***






« Last Edit: June 25, 2014, 05:04:24 am by merockstar »

Offline tonyk

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question: I've read random threads here and there that reference dividends being paid to holders of bitAssets.

I've also read about it here: http://invictus-innovations.com/bitshares-as-dac-bank

is the dividends thing still in the works?

according to the site I just linked, the destroyed five percent fee was going to go towards those dividends.
is that still true?

can anyone fill me in or link to the most current threads on the subject?

"Dividends" are just destroyed shares. If you do your accounting in BIPS (billionths of the current share supply), then the dividends are explicit and you actually see your balance go up. Otherwise they are implicit and you gain value from the reduced supply.

Long ago there was a plan to have BitAssets earn interest out of the short position's collateral. That plan is abandoned (or delayed for a future chain).

Hmmm …To not earn dividends on the collateral when the dividends come as destroyed BTS X (reduced supply) a special care must be taken and calculations made (as in how many shares were destroyed ever since the collateral was given) and the returned collateral must be generally a smaller amount of BTS
…the other way of course is the collateral to be held in bips not BTS.. which one is true?

And if in bips – are the prices gonna be quoted in BTS or in  bips?
Lack of arbitrage is the problem, isn't it. And this 'should' solves it.

merockstar

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question: I've read random threads here and there that reference dividends being paid to holders of bitAssets.

I've also read about it here: http://invictus-innovations.com/bitshares-as-dac-bank

is the dividends thing still in the works?

according to the site I just linked, the destroyed five percent fee was going to go towards those dividends.
is that still true?

can anyone fill me in or link to the most current threads on the subject?

"Dividends" are just destroyed shares. If you do your accounting in BIPS (billionths of the current share supply), then the dividends are explicit and you actually see your balance go up. Otherwise they are implicit and you gain value from the reduced supply.

Long ago there was a plan to have BitAssets earn interest out of the short position's collateral. That plan is abandoned (or delayed for a future chain).

roger that, so you dont get any interest or dividends for holding bitUSD.

Offline toast

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question: I've read random threads here and there that reference dividends being paid to holders of bitAssets.

I've also read about it here: http://invictus-innovations.com/bitshares-as-dac-bank

is the dividends thing still in the works?

according to the site I just linked, the destroyed five percent fee was going to go towards those dividends.
is that still true?

can anyone fill me in or link to the most current threads on the subject?

"Dividends" are just destroyed shares. If you do your accounting in BIPS (billionths of the current share supply), then the dividends are explicit and you actually see your balance go up. Otherwise they are implicit and you gain value from the reduced supply.

Long ago there was a plan to have BitAssets earn interest out of the short position's collateral. That plan is abandoned (or delayed for a future chain).
Do not use this post as information for making any important decisions. The only agreements I ever make are informal and non-binding. Take the same precautions as when dealing with a compromised account, scammer, sockpuppet, etc.