Poll

How should PTS be upgraded?

PTS should be migrated to a standalone DPOS blockchain.
27 (50%)
PTS should be migrated to a user-issued asset in BTSX.
10 (18.5%)
PTS should stay on the current PoW chain.
17 (31.5%)

Total Members Voted: 47

Author Topic: PTS upgrade poll  (Read 13589 times)

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Offline alphaBar

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Re: PTS upgrade poll
« Reply #5 on: August 02, 2014, 04:11:33 am »
https://github.com/BitShares/BitShares-PTS/releases/tag/v1.0.0

The original protoshares website is down: http://invictus.io/bitshares-pts.php
See the broken link in the sidebar of the subreddit here: http://www.reddit.com/r/protoshare/.
This link (also found in various places) is broken: http://invictus-innovations.com/downloads/

The link you provided (the github repo) is not found anywhere on the Bitshares website - not even on the page that describes Protoshares.

Edit: added broken link
« Last Edit: August 02, 2014, 04:22:38 am by alphaBar »

Offline Riverhead


Offline alphaBar

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Re: PTS upgrade poll
« Reply #3 on: August 02, 2014, 04:00:51 am »
@toast, I don't disagree with you, but I think there is a real sense of urgency here. Just as an example, can you link me to the PTS website? Probably not since the official website is no longer working (still linked everywhere though!) and there is no link anywhere on the Bitshares website for downloading the PTS client!

Really the most basic component of any crypto is a website and a download link for the client, and we don't even have that anymore. This is the type of stuff that just kills investor confidence and results in the price decline we are witnessing. I am trying to be constructive here, but if this was a business whoever was in charge would be fired. And if there was supposed to be a handoff of responsibilities then somebody seriously dropped the ball.

I did not create this thread to point fingers - I am simply proposing a way forward, and I contend that it should be executed with urgency.

Offline toast

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Re: PTS upgrade poll
« Reply #2 on: August 02, 2014, 03:50:25 am »
Quote
The upgrade should be seamless and relatively frictionless now

I really strongly disagree, I think it will be hard as hell to do it seamlessly. You are effectively making a new chain and killing the old one at the same time... All the services that integrate with PTS will have to be rewritten. You can't just "swap out" the POW for DPOS in the current version of PTS.

I do think it is necessary, but it needs to be done carefully.

Meanwhile:

Quote
The current PTS chain is insecure and inefficient due to a low hashrate, high inflation, and other problems (difficulty adjustment, etc).

This is what the difficulty patch that testz is working on addresses. The high inflation will remain but the wonky hashrate will be fixed.
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.

Offline alphaBar

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PTS upgrade poll
« Reply #1 on: August 02, 2014, 03:44:13 am »
Friends, the PTS price has been dropping rapidly for the last few weeks. Dan has indicated that the maintenance and decisions related to PTS are no longer the responsibility of Invictus. The user "testz" has been tasked with maintaining PTS in accordance with the community's consensus. I created this poll with 3 options, but as we all know there are really only two paths forward. The current PTS chain is insecure and inefficient due to a low hashrate, high inflation, and other problems (difficulty adjustment, etc).

We need to decide how and when to proceed with an upgrade. Please vote and comment to indicate your preference as well as your preferred timing of the upgrade. I personally believe that PTS should be upgraded IMMEDIATELY as a standalone DPOS chain and should NOT be a user-issued asset in BTSX and here is why:

BTSX is essentially the first DAC. There are very ambitious features of the BTSX DAC that could fail spectacularly, independent of DPOS (pegged assets, for example). PTS should not be subject to the volatility and risk introduced by these features or future features that may be implemented by BTSX. PTS should be independent, both in price, volatility, and features from the DACs that are born from it. It should be the Switzerland of DACs, agnostic and separate from even the market perceptions of a DAC and its features. This way it ends up representing a more distributed and non-biased segment of investors who are not for or against any particular feature of any particular DAC, but who believe in the underlying protocol as a foundation (DPOS).

With respect to the timing of the upgrade, I believe it should be done urgently and immediately to prevent a further decline in the price and investor confidence in PTS. The upgrade should be seamless and relatively frictionless now that the large exchanges have implemented BTSX (implementation of any DPOS wallet is essentially the same). An advanced announcement of the exact block of the snapshot for the upgrade should be sufficient. If it is agreed, we will need people to reach out to cryptsy, bter and other exchanges to coordinate the timing.

With Invictus shifting their focus away from PTS, it is up to the community to make this happen and to stop the bleeding in PTS. Whatever your opinion, please make it known or nothing will change.