How should we Introduce you/your project/your news coverage?
@intelliguy wants to talk about a possibility of two bitcoin users exchanging bitcoin for BTS on the Bitshares network in a decentralized way without needing a gateway or centralized exchange, using Bitshares witnesses as the verifier.
(Hard fork may be required, but maybe not?)
What is your bitshares account name?
intelliguy-bts
Show up and tell me if this is a GREAT idea, or if there are flaws. I think it's pretty darn good so far!
If you want to hear about this idea on mumble radio, please upvote THIS COMMENT.
I already exchange (real) bitcoin for bitshares or one of many crypto for other crypto on bitshares internally/externally to help users in the community. So I say it is a good idea and that it works. Just have to see who is interested. Suggest finding trusted accounts/people to carry out the transactions safely. Such as witnesses as mentioned.
I swapping BTS for BTC in a trustless way is a crosschain atomic swap. I though you were going to talk about a trustless gateway for bitcoin? like a sidechain where people can deposit bitcoin on the dex in a semi trustless way?
Now that the talk is over, I wanted to focus on user perception of usage (after coming from centralized exchanges)...
The other part was using Subway sandwiches and Fiat as an "atomic swap" comparison. As you can see, I might have been talking about similar things as atomic swaps or trustless BTC gateways... but I needed to say it in a way that gets regular users voices heard as we move forward. I think now it makes more sense (after hearing the way I made the presentation) as to why I wanted to do what I did. :)
Thanks for your comments during the show. They were helpful.
BitShares-core (v2.0.171025) has been released. This is a change to the consensus rules so is classified as a hardfork and all participating witnesses need review and upgrade to the latest code base by the 2017-11-27 14:40:00 UTC flag date.
A new worker proposal titled ‘BitShares Greater China Representative’ has been proposed and approved this week. The worker proposal is for a large team in China to promote, educate and build out Bitshares in co-ordination with previously established representatives of Bitshares.
Bitshares (BTS) has been added to 3 new Exchanges this week Big.One, AEX and ZB.
Crypto Bridge has announced their Market Maker program which is active now and is on trial until the 30th of November. This is a great step forward in increasing the liquidity of their orderbooks by allowing market makers to take a cut of the fee’s by creating limit orders and filling out the books.
@jeremypeng from the BitUniverse team has announced Bitshares DEX support in their latest release of the BitUniverse mobile app. This means that you can track the price of any asset in bitshares DEX via the BitUniverse portfolio app.
@billbutler, who currently manages the GUI team for BitShares, is proposing to run a witness on the BitShares blockchain and to operate an API node in eastern North America. His witness account is "billbutler-witness".
A new website has been prepared that compares various blockchains to each other based on the number of transactions. These can be ranked either by past 24-hours, 7-day daily average, or all-time max.
In this comparison, the Graphene chains such as Steem and BitShares rank higher than Bitcoin and Ethereum.
IMO, not a problem for anyone other than the debt holders - they could be force settled above the feed price, but that's the risk you take as a shorter.
If this entity is only selling bitUSD and never buying back its debt, then say BTS was at a high value and dropped to a low value it would drain the reserve pool and if/when the worker proposal ended the entity would have insufficient collateral to buy back their shorted bitUSD at market rate (Especially if it's millions of bitUSD) which could potentially push bitUSD into a black swan state.
Getting market pegged assets such as bitUSD added onto exchanges would be more productive than injecting liquidity into markets at the risk of depleting the reserve pool & causing black swan events.
Project/Topic Name/News Piece
Real Bitcoins To/From the Bitshares DEX
#bitshares #bitcoin #blockchain
Appropriate links to share?
Steemit and/or Mumble account name of Representative/Speaker
How should we Introduce you/your project/your news coverage?
(Hard fork may be required, but maybe not?)
What is your bitshares account name?
Show up and tell me if this is a GREAT idea, or if there are flaws. I think it's pretty darn good so far!
If you want to hear about this idea on mumble radio, please upvote THIS COMMENT.
This is one of the most voted for feature in OL's BTS3.0 bitsharestalk thread:
https://bitsharestalk.org/index.php?topic=25187.0
I already exchange (real) bitcoin for bitshares or one of many crypto for other crypto on bitshares internally/externally to help users in the community. So I say it is a good idea and that it works. Just have to see who is interested. Suggest finding trusted accounts/people to carry out the transactions safely. Such as witnesses as mentioned.
Glad to hear it. I hope I see you there if you can make it?
I swapping BTS for BTC in a trustless way is a crosschain atomic swap. I though you were going to talk about a trustless gateway for bitcoin? like a sidechain where people can deposit bitcoin on the dex in a semi trustless way?
Now that the talk is over, I wanted to focus on user perception of usage (after coming from centralized exchanges)...
The other part was using Subway sandwiches and Fiat as an "atomic swap" comparison. As you can see, I might have been talking about similar things as atomic swaps or trustless BTC gateways... but I needed to say it in a way that gets regular users voices heard as we move forward. I think now it makes more sense (after hearing the way I made the presentation) as to why I wanted to do what I did. :)
Thanks for your comments during the show. They were helpful.
Extract for this weeks Bitshares State of the Network report
BitShares-core (v2.0.171025) has been released. This is a change to the consensus rules so is classified as a hardfork and all participating witnesses need review and upgrade to the latest code base by the 2017-11-27 14:40:00 UTC flag date.
A new worker proposal titled ‘BitShares Greater China Representative’ has been proposed and approved this week. The worker proposal is for a large team in China to promote, educate and build out Bitshares in co-ordination with previously established representatives of Bitshares.
Bitshares (BTS) has been added to 3 new Exchanges this week Big.One, AEX and ZB.
Crypto Bridge has announced their Market Maker program which is active now and is on trial until the 30th of November. This is a great step forward in increasing the liquidity of their orderbooks by allowing market makers to take a cut of the fee’s by creating limit orders and filling out the books.
@jeremypeng from the BitUniverse team has announced Bitshares DEX support in their latest release of the BitUniverse mobile app. This means that you can track the price of any asset in bitshares DEX via the BitUniverse portfolio app.
Witness Proposal by Bill Butler
@billbutler, who currently manages the GUI team for BitShares, is proposing to run a witness on the BitShares blockchain and to operate an API node in eastern North America. His witness account is "billbutler-witness".
[Unfortunately I cannot attend this Hangout]
Blockchain Comparison Website
A new website has been prepared that compares various blockchains to each other based on the number of transactions. These can be ranked either by past 24-hours, 7-day daily average, or all-time max.
In this comparison, the Graphene chains such as Steem and BitShares rank higher than Bitcoin and Ethereum.
[Unfortunately I cannot attend this Hangout]
http://www.blocktivity.info/
I'd like to talk about the fact that BitAssets are not pegged to stop them rising above their target price.
It was discussed her this week: https://bitsharestalk.org/index.php/topic,25223.0.html
IMO, not a problem for anyone other than the debt holders - they could be force settled above the feed price, but that's the risk you take as a shorter.
If this entity is only selling bitUSD and never buying back its debt, then say BTS was at a high value and dropped to a low value it would drain the reserve pool and if/when the worker proposal ended the entity would have insufficient collateral to buy back their shorted bitUSD at market rate (Especially if it's millions of bitUSD) which could potentially push bitUSD into a black swan state.
Getting market pegged assets such as bitUSD added onto exchanges would be more productive than injecting liquidity into markets at the risk of depleting the reserve pool & causing black swan events.
Thanks again for this awesome update! All for one and one for all! Namaste :)
Going to try to make it on next week as I have LOTS to talk about!
just make sure if it is a topic that you want to talk about you are rsvping to do so.
Awesome
This sounds like an exciting opportunity to exchange information! Thank you @officialfuzzy for this.
nice post
wow! This is great I'm in
thanks for the info👍
goo
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