Author Topic: BitShares & Stellar Partnership Thread : BeyondBitcoinX Dev Hangout  (Read 7448 times)

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Offline luckybit

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I'm ignorant on that matter as i'm not familiar to how ripple works, so bare with me, but aren't those gateways replicable? cant someone do the same? cant we do the same? or use that as a foundation for something even better?

The idea I like is not having to replicate the gateways.  We could simply create a bridge between ripple and BTSX.  People would be able to deposit on coinbase, and then rather than go to an exchange and buy BTC then buy BTSX and then buy BitUSD, they could send their coinbase dollars straight to a bridge that would then shoot bitusd out the other side to their account. 

A simple one way bridge from coinbase_USD to Bit_USD would be very easy to set up.  (I could probably do it, which is saying something.)  You would have to charge a fee at the bridge in order to offset the costs of buying BTC and then converting that BTC into BTSX and then into Bit_USD, but that shouldn't be too steep. 

Going the other way might be a little bit harder.  Depending on how you want to do it.  I would prefer to keep it as just an address that you send to and the comments in the memo direct it to the correct account on the other side.

All of this prevents you from having to jump through the regulatory hoops associated with running an exchange or a full gateway.

I'd rather use a regulated gateway. We already can buy BitUSD and thats not the problem that Gateways solve. Getting value in is the easy part. The problem is getting value out into legal securities, legal assets, physical precious metals, etc.

There is no way to do this without being fully regulated. The Gateway has to be a financial institution.
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Offline puppies

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I'm ignorant on that matter as i'm not familiar to how ripple works, so bare with me, but aren't those gateways replicable? cant someone do the same? cant we do the same? or use that as a foundation for something even better?

The idea I like is not having to replicate the gateways.  We could simply create a bridge between ripple and BTSX.  People would be able to deposit on coinbase, and then rather than go to an exchange and buy BTC then buy BTSX and then buy BitUSD, they could send their coinbase dollars straight to a bridge that would then shoot bitusd out the other side to their account. 

A simple one way bridge from coinbase_USD to Bit_USD would be very easy to set up.  (I could probably do it, which is saying something.)  You would have to charge a fee at the bridge in order to offset the costs of buying BTC and then converting that BTC into BTSX and then into Bit_USD, but that shouldn't be too steep. 

Going the other way might be a little bit harder.  Depending on how you want to do it.  I would prefer to keep it as just an address that you send to and the comments in the memo direct it to the correct account on the other side.

All of this prevents you from having to jump through the regulatory hoops associated with running an exchange or a full gateway. 
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Offline Blahbleuhbleuh

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I, for one, welcome our new gateway overlords.

I look forward to see what kind of interesting new synergies and developments this partnership could bring. It's an interesting combination that offers many intriguing possibilities. Could you provide a few examples of what you might be able to achieve together?

Offline lucky331

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This may be a noob question, but what exactly is needed from Ripple/Stellar in order to complete the Bitshares ecosystem? What do they offer that Bitshares is currently unable to provide?

an easier way to move bitX (X being USD, BTC, LTC..etc) around the world. please read more about stellar here:  https://www.stellar.org/learn/


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I created a Facebook account just to get some Stellar ... it didn't go as planned.

ProTip : If you hate Facebook as much as I do and only venture there for some free Stellar, DO NOT attempt to register your FB account with Stellar prior to obtaining some "friends" on Facebook. My account was flagged as a spam account by the Stellar app and I received zero Stellar, but did receive plenty of spam from Facebook. =/

Offline Akado

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I'm ignorant on that matter as i'm not familiar to how ripple works, so bare with me, but aren't those gateways replicable? cant someone do the same? cant we do the same? or use that as a foundation for something even better?
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Offline luckybit

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Do we really need them? Or is this an attempt on their part to drive up hype?

I think I prefer Ripple, idk my opinion isn't set in stone.

We should approach both communities and go with the community which is least hostile to collaboration.

You prefer Ripple? You should approach Ripple and tell them you prefer we go with Ripple.

But one thing is for certain, we need their tech and they need ours. Ripple Gateways are worthless if we don't have anything of value to send through them and our technology isn't nearly as useful if all the value is trapped inside the client.

We need a Gateway to the "real" legal world so that we can own "real" legal securities, properties, assets. What good is owning a lot of digital market consensus simulations of stock if you can't make use of it legally? Get the Gateway right and not only would our market cap reach the billions someday but we'd also be able to "cash out" into legal securities, legal stocks, legal assets.
« Last Edit: August 26, 2014, 10:32:44 pm by luckybit »
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Offline jae208

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Do we really need them? Or is this an attempt on their part to drive up hype?

I think I prefer Ripple, idk my opinion isn't set in stone.
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Offline luckybit

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We have made contact with the Brothership


Please post to the following thread.  After your first post, please send me (fuznuts) a pm on the stellar forums with your bitsharesx ID and the link to your post.  Please try to keep the subject matter related to a potential partnership, the idea of potentially sharedropping on PTS/AGS in return for a partnership that would likely put set them up to be Ripple's direct competitor in the future.  Or talk about the Mumble Server and how they can join in on the conversation.

https://stellartalk.org/topic/4561-bitshares-and-stellar-partnership/

We definitely DEFINITELY NEED THIS PARTNERSHIP.
If we can pull this off it could bring us to $1 billion dollar market cap.
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Offline mbaeichapareiko

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Hey fuzz nuts.   

This is confirmation for me as the next coin that has been interesting me quite a bit outside of bit coin, and the technology of bit assets of bitshares has been.....  stellar.  I really like the way stellar is trying to be social media friendly which imho is going to cause bit coin and digital assets to grow very quickly once adoption picks up momentum in the social media communities.    Of course bitshares is a great technology, would be very interesting to see what kind of a  a win / win collaboration will be established from here forward.

Mbae

Offline Empirical1

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I would like to put it here that I don't like Stellar. They started with giving 6000, and dropped it sharply. The aim seemed to be to garner hype, but then try to keep the maximum to themself.

That said, if it benefits us then good luck.

 +5% I haven't looked into Stellar in the last week or so but I didn't like them when I did.

They severely crushed their share-drop from 6000 to 125 for most users in the week I studied them. Yet according to coinmarketcap they released 500 million odd Stellar that week, which is circa 4 million users, even take into account multi-accounting/a higher average number than 125, that would either make them as well distributed as Bitcoin in a week or they didn't really release 500 million Stellar. Their avg. daily volume was also consistently dropping over that period which wouldn't have been the case if they'd really just share-dropped a 100% extra Stellar onto the market in a 1/2 week period. 

They also had a convoluted grouping and invite system plus a caveat that said they may choose to sharedrop based on specific demographics/geographic locations as required. The entire process made it very hard to track where this supposedly share-dropped Stellar was going.

It seemed they were going to claim to be share-dropping stellar without actually doing so, thereby giving them the illusion of a rising CAP, despite declining/low volumes - the same kind of give-away of false circulation as Ripple. 

As I say I haven't looked into it in the last two weeks and they seemed to have paused at the 1 Billion released mark on CMC, so that looks better...

Edit: But whatever partnerships assist BitShares I'm all for. Just not personally a fan or investor in Stellar given what I looked into at the time.

Edit 2: I forgot - They also claim Stripe had given them $3 Million for 2% of Stellar which would mean they were either paying a valuation of $150 million for a brand new company. (Which is ludicrous) or their Stellar was released immediately and they were really paying $3 million for a very high percentage of initial circulating supply and hoping to profit that way. Either way incredibly sketchy to me the way it was presented. (Oh and they have like 10 000% inflation still to come...)
« Last Edit: August 26, 2014, 08:10:31 pm by Empire »

Offline Gentso1

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I would like to put it here that I don't like Stellar. They started with giving 6000, and dropped it sharply. The aim seemed to be to garner hype, but then try to keep the maximum to themself.

That said, if it benefits us then good luck.

Please go on.  Everything I have read of Stellar seems like they have gone out of their way to avoid many of the issues Ripple created by their launch.  But I am not an artisan in Stellar's craft ;)

If we need either Ripple or Stellar for gateways, and only could use one--would it be Stellar or Ripple for you?

Who ever is going to give us pts/ags holders the most and who is willing the get the gateway up any running the quickest.
(not a ripple fan , with them deciding to suddenly release the xrp amounts that  ripple labs is holding.....it just seems like a cheap bid for attention)

Offline nomoreheroes7

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This may be a noob question, but what exactly is needed from Ripple/Stellar in order to complete the Bitshares ecosystem? What do they offer that Bitshares is currently unable to provide?

Offline fuzzy

I would like to put it here that I don't like Stellar. They started with giving 6000, and dropped it sharply. The aim seemed to be to garner hype, but then try to keep the maximum to themself.

That said, if it benefits us then good luck.

Please go on.  Everything I have read of Stellar seems like they have gone out of their way to avoid many of the issues Ripple created by their launch.  But I am not an artisan in Stellar's craft ;)

If we need either Ripple or Stellar for gateways, and only could use one--would it be Stellar or Ripple for you?
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I would like to put it here that I don't like Stellar. They started with giving 6000, and dropped it sharply. The aim seemed to be to garner hype, but then try to keep the maximum to themself.

That said, if it benefits us then good luck.