Bitcoin Forum

22/07    BTSX did even more CNY volume than LiteCoin today! 2nd only in CNY volume to Bitcoin.

Update: BTC38 & bter now doing BTSX deposits.

Update 21/07 WARNING! BitShares X is listed on coinmarketcap.com but none of the exchanges are allowing withdrawals and deposits yet. So the amount available on bter & BTC38 is just small % of the total.

You are free to buy from bter but only when withdrawals and deposits are allowed (Which should be any day now) will we get a true idea of supply & demand!



Update: 19/07/2014 BitShares X has just been launched !!!


https://bitsharestalk.org/index.php?topic=5750.0

Pay attention to the following sites for more breaking information:
dacsunlimited.com
bitshares-x.info
bitshares.org
bitsharestalk.org



BTSX is trading on bter and BTC38

bter https://bter.com/trade/btsx_btc (https://bter.com/trade/btsx_btc)
and btc38 http://www.btc38.com/trade_en.html?mk_type=btc&btc38_trade_coin_name=btsx (http://www.btc38.com/trade_en.html?mk_type=btc&btc38_trade_coin_name=btsx)

I have a special love for PTS -

because with PTS profit I purchased every Quark i own.

I <3 PTS.

no idea what any of this is though.

i just wanted to make this statement.

Market-pegged - 'Polymorphic digital assets' coming soon....  (BitUSD, BitGold, etc.)


http://wethenerdy.com/wp-content/uploads/2014/05/We-the-Nerdy-X-Men-Days-of-Future-Past-Mystique.jpg

BitShares X is the BitShares Bank & Exchange DAC



They will be very shortly releasing version 1.0 of BitShares X

Thanks. 

                                                                               BitShares X


A decentralised bank & exchange which allows the trading of derivative assets that track the value of real world counterparts.

Now real world currencies, commodities and stocks can be tracked in decentralised digital form & held in market-pegged, collateralised, derivative assets which are traded on a blockchain without counterparty risk or trusted price feeds.


The Opportunity

Given the current global financial instability, geopolitical tensions & high levels of government debt, holding sizeable deposits of fiat, stocks or commodities is becoming increasingly risky within the current financial system. Therefore, BitShares X may need very little real-world proving under its belt, before it is seen by some very big players as an appealing hedge for a portion of their portfolio.

Indeed should those centralised risk factors get worse or even materialise - such as significant deposit confiscations - BitShares X will be in a dominant position to displace a large part of a multi-trillion dollar industry virtually overnight.

Target Markets

Traders

It should go without saying that the privacy, low costs, freedom from confiscation and other advantages of trading on a blockchain will appeal to many of the hundreds of thousands of traders currently engaged in trading currencies, commodities and stocks all around the world.

In order to support such trading activities, BitShares X introduces TITAN - A brand new privacy feature which allows for fully secure, anonymous transactions, transferred to and from easy to remember user-created, account names.
 
Bitcoin Retailers and Users

There are over 30K+ retailers who currently accept Bitcoin as payment; however the vast majority, due to tight retail margins and the relatively high volatility of Bitcoin,  transition directly back to fiat via a third party service like BitPay. Many of these retailers may wish to hold a portion of their revenue in Bit-Assets such as BitUSD.

Similarly the thousands of Bitcoin and alt-coin holders may also wish to hold a portion of their fiat earnings or savings in less volatile assets such as BitUSD, BitCNY or BitGold.

Existing Hotspots

Places like Ukraine, Venezuela, Argentina, Ghana and many Asian countries have significant capital controls that already restrict the flow of capital and foreign currency. The need for BitShares X to fill a void caused by these restrictions is clear, so it makes sense that there may be rapid adoption in areas like this, as they were also some of the strongest areas of initial Bitcoin adoption.

5% interest p.a.

Due to reduced costs and low overheads, BitShares X will be able to vastly undercut real world banks & exchanges with regards to transaction, market, inactivity and margin-call fees, while at the same time being able to pay shareholders dividends of up to 5% p.a.
In a world of extremely low yield and even negative interest rates being seriously discussed in places like the Eurozone, we believe this will be another factor that will make BitShares X extremely appealing to a wider market.


BitShares X runs on a DPOS blockchain that was conceived by Daniel Larimer and has been developed by himself and the same talented team behind BitShares X. http://bitshares.org/delegated-proof-of-stake/


http://wiki.bitshares.org/images/5/5f/POS_Table_comparison_smaller.png


Potential risks in the current system that could positively affect the rapid adoption of BitShares X

http://www.zerohedge.com/news/2014-06-16/fed-prepares-bond-fund-runs-looking-imposing-bond-exit-fees-gates
http://www.zerohedge.com/news/2013-05-15/these-offshore-tax-havens-may-be-hazardous-your-deposit-confiscation-health
http://www.zerohedge.com/news/2014-06-26/nirp-strikes-spain-create-tax-bank-deposits
http://www.zerohedge.com/news/2013-06-07/guest-post-don%E2%80%99t-dismiss-possibility-gold-confiscation
http://www.zerohedge.com/news/2013-06-11/land-rising-bail-deposit-confiscation-coming-japan-next
http://www.zerohedge.com/news/2014-01-29/ira-confiscation-its-happening
http://www.zerohedge.com/news/2013-05-05/guest-post-short-history-currency-swaps-and-why-asset-confiscation-inevitable

Significant events just this week (10/07/2014)

http://www.zerohedge.com/news/2014-07-10/genius-imf-pronounces-bulgarias-banks-safe-just-2-weeks-bank-run
http://www.zerohedge.com/news/2014-07-09/germany-blesses-bail-deposit-confiscation-plan-failing-eu-banks
http://www.zerohedge.com/news/2014-07-09/portugals-largest-bank-misses-bond-payment-bonds-collapse
http://www.zerohedge.com/news/2014-07-10/new-laws-allow-government-seize-savings-deposits-during-crisis

The Market Peg

Digital assets should be able to be pegged to their real world counterparts by leveraging the accuracy and efficiency of prediction markets with 'high collateral required' short positions & minimum market depth requirements. Initially BitShares X will focus the trading efforts and market depth on only a few assets until the system has proven robust & secure.

http://wiki.bitshares.org/index.php/Market_Peg

Um, ain't nothing but a bump here. 'BTSX' is currently pre-trading on bter & BTC38, no wallet for you to withdraw to yet, so bit o risk, should be released in the month, see advert above to learn more.


bter https://bter.com/trade/btsx_btc (https://bter.com/trade/btsx_btc)
and btc38 http://www.btc38.com/trade_en.html?mk_type=btc&btc38_trade_coin_name=btsx (http://www.btc38.com/trade_en.html?mk_type=btc&btc38_trade_coin_name=btsx)

It's arrived.

http://www.dacsunlimited.com/index_en.html

Polymorphic digital assets are an exclusive feature and a game changer.

Ok yeah it looks like it's just been launched! This is the real deal but they advise that you need to be an experienced user and my skills don't really extend past point and click...


https://bitsharestalk.org/index.php?topic=5750.0

Pay attention to the following sites for more breaking information:
dacsunlimited.com
bitshares-x.info
bitshares.org
bitsharestalk.org

Update 21/07 WARNING! BitShares X is listed on coinmarketcap.com but none of the exchanges are allowing withdrawals and deposits yet. So the amount available on bter & BTC38 is just small % of the total.

You are free to buy from bter but only when withdrawals and deposits are allowed (Which should be any day now) will we get a true idea of supply & demand!

Thanks for the heads up.  Can't wait to see what happens once true market trading occurs. 

https://github.com/dacsunlimited/bitsharesx/releases

http://www.bitshares-x.info

Were can I find more information about Bitshares X ?
Info like POW/POS,How many BSX are/will be in circulation, how have they been distributed, etz.

Already looked at the official website, but that wasn't really helpfull. So if you could point me to a site/forum post with all this information on it, then that would be nice. :)

Was there an IPO for this? Are the coins being sold by IPO investors?

These should get you started.  Lots of new features which include DPOS algorithm, TITAN (anonymous security), and last but not least the market matching features which are a work in progress.

http://wiki.bitshares.org/index.php/Bitshares_X

http://wiki.bitshares.org/index.php/DPOS

http://wiki.bitshares.org/index.php/TITAN

Thx, will look in to those links :)

Is there a simple guide to setup the BitShares XT wallet? I know it's still in beta...

Yeah there was a two month IPO leading up to the end of Feb. They raised a few thousand BTC. It's actually trading now at what the IPO investors were paying at the end of Feb.

They were expecting it to be released sooner, but they came up with this whole new blockchain system in the interim, DPOS, which you can see in the table above (earlier in the thread) is pretty cool.


I haven't tried to set it up, so sorry I don't know. (I'm waiting for a super simple download.)

This thread in the BTSX forum might help https://bitsharestalk.org/index.php?topic=5750.0


Update: BTC38 now doing deposits and withdrawals therefore coinmarketcap.com listing is correct.

https://github.com/dacsunlimited/bitsharesx/releases/tag/0.2.1

Download the wallet above, its pretty self explanatory.  For any other questions browse these two sections:

https://bitsharestalk.org/index.php?board=65.0
https://bitsharestalk.org/index.php?board=3.0

I really like the look of Bitshares X so I bought a few - and the price on Bter has gone up nicely since I did; I just really hope I haven't paid over the odds to buy early like this, because I am a worried that more of the total demand is present than the total supply and that this is inflating the price. Having said that, the market cap looks reasonable to me so I guess I should be alright in the longer term even if the price does dip before going back up.

It looks like it's dropped in price according to coinmarketcap.

http://s28.postimg.org/u8s5yesvh/bitshares_x_coinmarketcap.png

Lol, I spoke too soon. Oh well, wasn't planning to sell yet anyway.

Sorry Profitofthegods, this is why I put the warning up, in my previous update, I was worried there'd be a short term decline when the exchanges started allowing deposits.

I also bought @ the level you did & I'm very happy with it. I may be tempted to buy more if price goes to 0.000015 but it looks like it's started recovering already.

I know the BitShares guys don't step out of their forum much to market properly & the price is down since exchanges opened for deposits but China certainly understands BitShares X.

BTSX/CNY volume is over $330k today! That's even more CNY trading than Litecoin!

BTSX is second in CNY only to Bitcoin at the moment!

http://letstalkbitcoin.com/blog/post/lets-talk-bitcoin-129-dogeparty-and-delegated-proof-of-stake

The latest episode of Lets Talk Bitcoin!

Interview with Daniel Larimer, the main developer of BitShares! Starts @ 12 minute

(Great interview lots of challenging question from Andreas Antonopoulos, Adam Levine & Stephanie Murphy.) 

Thanks for the link. Interesting!

Hi,
could someone help me get funded in order to register my account in the BitSharesX wallet? I bought BTSX at bter.com, but still can't withdraw them. I will send you back the amount once I can. I thin only 0.1 BTSX is needed.
My public address: BTSX84zRThf2cWKvSSiX1oLBxiFD2k643WdGuPEb8zXGar4G2v62P8
Thank you
Danman

Sent.  Have fun man.

cool.  I just installed the wallet.   (looks cool)  and listened to the interview (sounds promising)

Anybody can advise on the best way to fund this wallet (to have it registered)?

BitShares X kicks ass.. Once bitUSD launches, moon is next.

In my opinion, why Bitshares is the Pandora's box of crypto:

Sorry, not sure waiting for them to do a windows fix so I can play with wallet myself. I think there is/will be a faucet in the next week too.
Also they will be starting an official thread on BTT with the next release so you can ask questions and have them answered here.

feel free to check out the forum

https://bitsharestalk.org/index.php?board=65.0

Not sure what's that meant to mean?

POW is much better suited to NWO. Just buy some mining equipment offer the best pool rates and before you know it you'll control 51% of the system without Bitcoin holders being able to have a say - Ghash.io.

Send me your public key and I'll send you enough to register.  Then you can purchase from an exchange.   There is a plan for a faucet, with free registration, but its not out yet.

Cool. For the record looks like bter has started allowing withdrawals. They are limiting it to 5000 BTSX a day & will raise it in a few days if it all goes smoothly.

https://bitsharestalk.org/index.php?topic=5992.msg81266;boardseen#new

Thank you very much!
Unfortunately I still can't register  :( I use the OS X client. The error message reads: "RPC: Server Error: In method 'wallet_account_register': Assert Exception (10)"

Does anyone know what this means?

Yes, BTER allows withdrawals now, but only to REGISTERED accounts.

It worked now with another name. I think the first name was already taken.   ;D

Cool :) (I think they should make a thing that says 'account name is taken' or something.) How do you like the account name thing otherwise? Everyone's saying it's pretty cool, cuz it's anonymous as well, and a lot better than using addresses.

I haven't been able to open the wallet yet, as it crashes on my windows, but already thinking of a cool account name or two :)

Puppies you are the man.   

pay you back, when I buy


BTSX6F4ntqWgRd6e5Co19FMFRwubNGoadu1AXQSLWvHEu9YN95Jx4g


Thanks!!!

That kind of situation requires timely government planning and subterfuge.  You might get an actual, decentralized Bitcoin network for a decade or two before it happens.  PoW is kind of designed where it's impractical for the government to force it onto people.  Waste tons of energy for a government to impose their sovereign power, which they can already do anyway?  If the government was against Bitcoin, the odds of them flat out destroying it are a million times higher than them taking it over and forcing you to use it.  DPOS is a very practical thing for a government to take over and force you to use, such as the example I made about them assigning each UN member as a delegate.

For better or worse, DPOS is the best suited cryptocurrency for governments to deploy as a "new world order" currency.  Whether they would take over Bitshares, or just clone it and assign delegates themselves is another mystery.  They would most likely enjoy it's built in plutocratic voting mechanisms regardless.

How could government "take over" bitshares?

Why would anyone follow government's clone?

Bithsares is the closest to a goverfnment-free system I have ever seen.

Do all DPOS delegates currently operate anonymously over TOR, only identifying themselves with a random pseudonym?  Is TOR actually useful and not prone to timing attacks?  Can DPOS be scaled while using TOR?  Are all DPOS delegates supposedly distributed worldwide, but all located on the same Amazon server?  What percent of DPOS delegates are actually unique individuals?

That's how?

Admittedly, PoW is in the same boat, if not far worse off, but until questions like this can be addressed, DPOS isn't exactly bulletproof.

Supposedly the DPOS delegates are spread over many regulatory jurisdictions and do not all need to be anonymous. Take one down and the next in line steps up.

I have personally run a delegate through tor, and sent transactions.  Support is not currently built into the client so I had to build the client in whonix to get multiple connections open at the same time.  I am not a tor expert, but to the best of my knowledge DPOS could scale through tor just fine.  Some delegates are running their nodes on their personal networks, and some have rented server space.  Its impossible to be sure how many actual individuals there are in the top 101 delegates, but I just looked through, and it appears theres around 40-50 different individuals.  I personally would like to see 101 different individuals spread out all over the world keeping only the fees needed to pay for their hardware/electricity/bandwidth and returning the rest to all shareholders.  Others have different ideas.  Some would like to see delegates keeping more of the fees and reinvesting those fees in the ecosystem.  Some picture delegates being professional teams, with different stated goals and perhaps running multiple delegates per team.  The beautiful part is that it is up to the actual users of the token to decide. 

As far as DPOS being co-opted by the government, I don't think thats a likely possibility.  The gov thugs would never give up their ability to inflate at will to fund the welfare/warfare state.  If their spending and inflation was on a blockchain and had an immediate impact on the purchasing power of other tokens, they would not be able to spend a tenth of what they currently do.

Having zero incentive to run and protect a node isn't a valid method of security.  There has to be some kind of profit margin or reason for doing so.

Sent.  Sorry it took me a bit.  Was stuck at work.

You are 100% correct.  A better way of stating it would have been paying for their hardware/electricity/bandwidth/time.  I believe delegates should be compensated at whatever level the market will bear.  The point I was trying to make is that my preference is for private individuals that return excess fees to the users, rather than delegates run by public teams or corporations, that use fees to spend towards projects. 

I am sure there will be that sort of error message added at some point.

I was able to register my first name, since it wasn't taken yet, so cool  :D
Now I can send funds from bter.com within seconds just by typing in my name, it's awesome!
Bter btw seems to have increased the maximum withdrawal amount to 50,000 BTSX.

Anybody needs a BTSX to get registered, let me know via PM. It could take me up to 24h, since I can't access from work.

With lots of help, I have been able to create a web wallet with some funds built in for registration purposes.  If you are currently unable to open the wallet due to silly windows issues and just want to play, or need funds to register an account to withdraw from bter feel free to use it.  Theres about a dollars worth of BTSX on there.  Please only take what you need to register your account.  about .2BTSX.  Or replace what you take.

https://bitsharestalk.org/index.php?topic=6122.msg81960#msg81960

Thanks for trying puppies, for some reason, it never went through....

Danman, maybe you can help with getting this wallet  started?
BTSX6F4ntqWgRd6e5Co19FMFRwubNGoadu1AXQSLWvHEu9YN95Jx4g

much appreciated.

I was in the middle of syncing my blockchain after updating the wallet. I assumed it had gone through.  Resent.

Hey Puppies,  received   Thanks.... lets get this party started.  :) ;)

Cool Bananas.

Yes I would recommend new people check out the demo web wallet & see what they think.  

Thanks for that, I am waiting on the Windows wallet and since I haven't had the time to follow more than the basic gist of Bitshares up to now I was really quite curious to take a look - and the wallet looks fantastic!

Any chance of someone sending me enough BTSX to register? BTSX5e91V7WZvJ81ao2Lp3gywLAi3rN2yfDm3vXfhBvjhDrsbTmn6P

I haven't downloaded it yet sorry, crashes on my windows.

https://bitsharestalk.org/index.php?topic=6122.msg81960#msg81960

There is a demo web wallet you can access from that link, you can send yourself enough BTSX to register, just send the same amount back when you're done if you can.

Oh yes, thanks, I'm so forgetful - I'd already looked at that when I thought the wallet wouldn't work on any Windows machine, but it seems to be fine on my laptop.

Sent 1 BTSX, registration costs 0.1 BTSX

Can someone help me to register my wallet? BTSX5oumZ7QUs9X6HrrUheVrqDEu9Lp6sJ8zVjgMXdjBzmyuN5Ja4f

Will pay you back!

Thanks mate, you get my vote for delegate!

Sent, enjoy!  :)

As I know giveaway not allowed at BTT, if you need some BTSX for register please post at https://bitsharestalk.org, for example here:
https://bitsharestalk.org/index.php?topic=6163

Awesome!!!!  :o ;D

Will pay you back once I can transfer.

is anybody else having trouble logging onto  bter.com ?

(never mind)  i was typing in the password incorrectly.  error corrected and all is working!  :)

No, fine for me but think they may be having BTSX withdrawal problems at the moment.

It seems like the withdrawal problems are largely fixed now.
https://bitsharestalk.org/index.php?topic=5992.msg82560#new
https://bitcointalk.org/index.php?topic=707593.new#new

So what exactly is bitshares? Is this like another coin or like Latium? I want to try this but I am a little hesitant downloading wallet, Isn't there an on-line wallet I can try this with?

Freetrade or his various shell accounts are known for some seriously crafty shit around here.
I figure Memory Coin he made was the greatest scam i ever seen.
He's far smarter than most of the other wannabe's lol

in like Dec 2013 roughly i made a few bucks arb'ing PTS but i have always hated the shit coin though.
and this newer crap is just retarded and exhausting these guys don't let up.. scheme after scheme..

demo wallet is running @  http://54.191.7.103:8080/.  for public access.

access user: demo
password:demo

wallet password is "176173.com"

Very nice post, thanks.

What's the difference between BTS X vs BTS XT? Or are they the same product? Where are the other DAC's?

If any newly mined PTS, will that get more BTS X or was that only for the Feb 28th snapshot only?

X is the official chain.  XT is the test network.  There was some talk of naming a stripped down chain designed to do nothing other than get the 2-28 snapshot liquid, XT.  Newly mined PTS will not get you any BTSX, but there are more DACS coming. 

So, if I acquire more PTS, it will still count towards the future DAC's(minus BTSX)?

Correct. 

I think PTS price is moving upwards in anticipation of announcements ...

I buy some BTSX on BTC38 but i don't have a registred account.

Any chance of someone sending me 1 BTSX to register? Will pay you back.

BTSX6K3bBegYm3At3RwQb1P1puDDjhnyFcnQwdYJmHJD1VdFDnn1aU

Sure what is your key? Don't worry about paying it back.

(Click on your account and then click on advanced it will give you a key starting with BTSX I can send funds to till you register an account name.)

BTSX6K3bBegYm3At3RwQb1P1puDDjhnyFcnQwdYJmHJD1VdFDnn1aU

Thanx

Could someone please send me a couple so I can withdraw from BTC38?

BTSX8JgnU1RuifwDXsKBkP8WgEPSdtENQnatBSLTcAv4mYf76z5iK9

Thanks

https://bitsharestalk.org/index.php?topic=6122.msg81960#msg81960

Has a couple wallets and basic instructions on registering your account.

Cool :) How has Crypto Analytics been performing overall with it's selections so far?

Cool

Don't know about them, but I'm very confident these prices are an absolute steal. Not in the sense it may go up an order but it may potentially be the best investment ever.

Once the BitAssets start trading you'll start seeing the true capability of this.

Just saw this on the BitShares forums from the lead developer/founder of BitShares, was posted an hour ago. It's obviously not trading advice, just sharing, do with it what you will.


BitShares X is awesome and BitAssets, being released in August will be the nuts, but it's nice to hear there's some more marketing (and perhaps other investment) coming on board, because that's what I feel has been lacking.


https://bitsharestalk.org/index.php?topic=6380.msg84969#msg84969


 http://www.hurriyetdailynews.com/images/news/201202/n_14676_1.jpg

Bitshares X price and volume increasing :)

Nice. I like the look of the curve on Bter. I'm no TA (don't believe in it actually) but its nice to see such a natural looking curve upwards rather than those sudden big spikes from pumpers and overblown hype which just end up crashing back down.

Wow Awesome!!

Just wait people start releasing DACs at the same way as altcoins!

I have to fund my account so I can register and start using my account. Can somebody send me just enough? I will refund or pay it forward.

BTSX8eMZMyxE7yh1auS8hB3XLVYmhmmipWWrvb6V3ZcASz2NAS5osf

THANK YOU


One more question. Is it worth it to acquire PTS now? Or do BTSX fulfil the same role re: new DAC share giveaways?

You can post your request here: https://bitsharestalk.org/index.php?topic=6439.0

For new DACs you will need to hold PTS.

BitShares X up 20% while bitcoin is downtrending. Also watch out for BitShares PTS dual snapshot (https://bitcointalk.org/index.php?topic=732434.0) in 5 days.

https://coinmarketcap.com/currencies/bitshares-x/
https://coinmarketcap.com/currencies/bitshares-pts/

Holding BitShares PTS in your wallet or at Bter/BTC38 is the best way to get BitShares DNS and BitShares Vote ahead of time!!

BTSX will continue to rise when people start to realize it goes beyond just being a "coin."  The technology here has significant potential to change the business & financial world as we see it...


http://letstalkbitcoin.com/blog/post/overstock-to-cryptostock

Let's talk Bitcoin! episode 129.  Starts around 12 minute mark with the lead dev Dan.  Great listen.
http://letstalkbitcoin.com/blog/post/lets-talk-bitcoin-129-dogeparty-and-delegated-proof-of-stake

I'm guessing the fact that it was recently added to Poloniex is helping with the value.  Also there's some possible arbitrage opportunities between Bter and Poloniex at the moment while the price is jumping around.  Get in while you can.

How could that be when there's only 4 BTC of volume on Poloniex?

Daniel Larimer speaking at Cryptolina

'The banking Deathstar'

https://www.facebook.com/photo.php?v=535627056584061&set=vb.408134445999990&type=2&theater


'How does that change things?'

https://www.facebook.com/photo.php?v=535658659914234&set=vb.408134445999990&type=3&theater

Overstock considering Bitshares  for "Radical Plan to Reinvent the Stock Market With Bitcoin."  http://bitshares.org/overstock-to-cryptostock/

https://bitsharestalk.org/index.php?topic=7168.msg95619;topicseen#msg95619

big investor wants to buy 60 000 000 shares  :o

I take those with a pinch of salt  :) But I have seen that there is serious interest in this even from people who've never owned Bitcoin before.

Just saw this on the forums. Getting close to game changing time maybe...

https://bitsharestalk.org/index.php?topic=7170.0

Assuming Cryptolina and BTSX market features being around the corner are the reason for the huge trade volume?

Yip, the imminent release of BitAssets and BTSX market features...

Plus, I think people are starting to work out the implications of what BitSharesX brings to the table. It's still way undervalued if you ask me.

EDIT: Also expect a coindesk article in the next few days too.

maybe i need to read more, but why would people be trading for bitUSD when they know btsx is becoming more valuable?

May be most people haven't realized it but they will soon.

Check out this thread:

https://bitsharestalk.org/index.php?topic=6887.0

thanks for the link!

Looks like there's <200 BTC worth of sell walls to take BTSX all the way to $50 million.

Over a $1 million 24 hour volume, the Chinese market BTSX/CNY certainly get's it. I'm sure most alt-coiners will only get what a big thing BitAssets are in a couple of days.

Wow and I just sold 25000 NXT of my 50k and bought in.  When I first noticed BTSX I was for sure it was some weird pump and dump scheme.  The name is a bit cheesy.

Then I read Bitshares Wiki to see what it is and it seems like a completely new thing.  If I understand it correctly, it could be the next Wall Street with all these strange derivatives.  I don't know how likely, but seems like as good of a place as anywhere to diversify in the crypto-space.

Glad to see one of the projects I have been suggesting to friends and family going on such a bull run. It makes me look like a genius. After most of them did not listen to me about Bitcoin, Litecoin, and now Bitshares.. maybe they will start to take me more seriously hahaahahaha. ;)

It was so f easy to see Bitshares was destined for success IMO. Now I just need Swarm to do something and I will be 4 for 4.

Definitely not a pump and dump, they have a lot of good ideas and projects planned. BitshareSX is only the first. I suggest getting into Protoshares to get in on the ground floor for future DACs. The BitsharesVote and BitsharesDNS snapshots are coming up soon.

Soon = 5 hours, last block of BitShares PTS for 21 August 23:59:59 GMT
https://bitcointalk.org/index.php?topic=732434.0

Haha, very soon!  ;D

But everybody still have time to buy PTS at bter or btc38 and left onto exchange, they commit to make snapshot and you get all your new shares at exchange.
Don't buy PTS at Cryptsy - they will not give you anything.

I'm somewhat skeptical as Quark Coin accomplished the same thing, getting a few celebrities and rich fund types to throw their money in, but the capitalization bubble wasn't sustained due to a lack of subsequent buyers.  Similar things happened to Mastercoin and such.

Quark failed because it takes more than an innovative PoW algorithm to make a successful coin. Furthermore, their distribution was whack...

* Total of 247 million QRK will be mined in ~ 6 months, after that ~ 1 million QRK p.a. (~ 0.5% p.a inflation)

It was great if you got in during the first 6 months, but it was doomed for failure after this first 6 months because investors coming in after that time period wouldn't touch it with a 10 foot pole because the distribution was unfair.

What is the distribution of Bitshares X?  Never saw a link explaining it yet. 

Yes, you've been telling people you're dubious of BTSX for a while.
You clearly don't understand the impact of BitAssets at all.
The Chinese do.
I think most of you guys are going to have to see them in action to have that 'Aha moment'

When is for awhile?  Other then commenting on the Ethereum-Bitshares relationship, I've made almost no posts about it.

All I see in BitAssets is something that looks like it was copied from NXT's asset exchange.  The current capitalization growth for Bitshares X looks like a hype buy and there's no ROI due to $40+ million capitalization.  Beating NXT is easy but no proof it'll take on LTC.  Anyone who buys Bitshares X at the moment is likely going to end up as a bagholder.

BitShares X held a donation period from the beginning of the year to 28th Feb. It raised a few thousand BTC. 50% was distributed to people who had AGS and 50% to people who had PTS on that date, not unlike the snapshots that are happening for BitShares DNS and The Vote DAC today.

http://i58.tinypic.com/2cpdxs4.png

Unfortunately the original donators lost out in the short term because when BitShares X was released in July, without the BitAsset functionality it traded for a lot less than they paid. (So from July till about 1-2 weeks ago you get it for less than donation investors.)


Ok then my bad. I seemed to associate you with 'BitShares negative' in my mind but that might have just been about those posts you just mentioned

The new market screen on Bitshares X is confusing me. The prices on buy and ask on USD/BSTX don't seem even remotely connected to the actual price of BTSX right now unless I'm somehow getting very confused.

Also does anybody know when the BitAsset functionality is expected to go live?

So in other words there's already whales in BitShares X and they'll dump the second they think it stops going up?  That's reassuring.. (don't say it isn't the case because clearly it is).

No when you raise a small amount of BTC's like NXT you have to worry about whales.
When you raise thousands of BTC's over a long period, the opposite is the case.

Significantly "dumping" the price at 2163 BTC 24h volume and massive buy orders, 68% coming from BTSX/CNY... good luck with that.

BitSharesX booming right now.

Did I say you should invest? No. I was saying it's on a staggering uptrend (not just since today btw).

http://media-cache-ec0.pinimg.com/736x/bc/0b/eb/bc0bebf753e598aac1dca53c6e6919ee.jpg

It has doubled in like a day and a half from $20 million to $40 million.

The other guy is correct, no point in buying now as the whales could dump now (or dump at $80 million - why risk real world $Fiat for a slim chance to see 2x-3x return.  I say slim because they can dump and crash it and then you'll lose money).

BTW - buying in with 1000s of BTC doesn't make any sense in an anti-whale thesis, people did that with Mastercoin and Maidsafe and neither coin went anywhere in the long run (neither did other coins that were pumped with huge amounts of BTC)

listen to taunsew/utopianfuture and buy NeM instead ! :D

its obvious bitshares is now ripe to take dem profitz

~CfA~

Monday is the plan, I think

... Nxt fan bois annoy me. Complaining about Bitshares distribution, when Nxt had one of the worst distributions of all time. At least Bitshares fan bois don't attack other cryptos and call them inferior.

I like both Nxt and Bitshares, it is really annoying to me to see all the infighting. I guess some people only care about their personal interests, but the sad thing is it is mostly Nxt people that attack other cryptocoin 2.0s. It makes me sick. They do the same to Ethereum...


Ya sense most new alt coins have bitassets.  ::)

Yeah especially if there are whales present.  Look at at how fickle most coins can be if just one whale dumps half their stash.  Hell Ethereum sent BTC down $50 just by dumping 3000 BTC in less than a week and the bots / scrypts ate that up.

If you have a long public donation period and raise thousands it makes an obvious difference to the distribution of the coin relative to either a short/little money raised coin. I'm sorry you fail to grasp that.

What's happening now though is BitAssets -  if the peg holds - then Litecoin will be history very soon. But you don't know what BitAssets are yet, if you'd done any research you might have been able to buy.

Very few people are willing to sell and you can also get an idea of the distribution from these

https://bitsharestalk.org/index.php?topic=7226.0
https://bitsharestalk.org/index.php?topic=7168.0

Qora coin now has Bitassets.  NAS coin can have their own bitassets too.

Lol. This is what I thought, you don't know what 'Bit'Assets are and why they're so huge  :)

lol m8 ;D

Hello, I found following on bitshare blog, can someone please explain to me how you can send money from 1 bank to another using it? thank you



instant

How long would it take you to transfer funds from your bank to another, anywhere in the world?

If the answer isn’t instantly, it’s time you looked at BitShares Banking.

http://bitshares.org/industries/banking/

There they're just saying BitShares X is like a bank.

You can send money between user friendly accounts anonymously on a decentralised blockchain in 10 seconds. However that functionality is not much different to what Bitcoin offers, except that it's much, much better.

The real advantage of BitShares X is BitAssets

-------

                                                                               BitShares X


BitShares X will allow the trading of derivative assets that track the value of real world counterparts.

Now real world currencies, commodities and stocks can be tracked in decentralised digital form & held in market-pegged, collateralised, derivative assets which are traded on a blockchain without counterparty risk or trusted price feeds.


The Opportunity

Given the current global financial instability, geopolitical tensions & high levels of government debt, holding sizeable deposits of fiat, stocks or commodities is becoming increasingly risky within the current financial system. Therefore, BitShares X may need very little real-world proving under its belt, before it is seen by some very big players as an appealing hedge for a portion of their portfolio.

Indeed should those centralised risk factors get worse or even materialise - such as significant deposit confiscations - BitShares X will be in a dominant position to displace a large part of a multi-trillion dollar industry virtually overnight.

Target Markets

Traders

It should go without saying that the privacy, low costs, freedom from confiscation and other advantages of trading on a blockchain will appeal to many of the hundreds of thousands of traders currently engaged in trading currencies, commodities and stocks all around the world.

In order to support such trading activities, BitShares X introduces TITAN - A brand new privacy feature which allows for fully secure, anonymous transactions, transferred to and from easy to remember user-created, account names.
 
Bitcoin Retailers and Users

There are over 30K+ retailers who currently accept Bitcoin as payment; however the vast majority, due to tight retail margins and the relatively high volatility of Bitcoin,  transition directly back to fiat via a third party service like BitPay. Many of these retailers may wish to hold a portion of their revenue in Bit-Assets such as BitUSD.

Similarly the thousands of Bitcoin and alt-coin holders may also wish to hold a portion of their fiat earnings or savings in less volatile assets such as BitUSD, BitCNY or BitGold.

Existing Hotspots

Places like Ukraine, Venezuela, Argentina, Ghana and many Asian countries have significant capital controls that already restrict the flow of capital and foreign currency. The need for BitShares X to fill a void caused by these restrictions is clear, so it makes sense that there may be rapid adoption in areas like this, as they were also some of the strongest areas of initial Bitcoin adoption.


BitShares X runs on a DPOS blockchain that was conceived by Daniel Larimer and has been developed by himself and the same talented team behind BitShares X. http://bitshares.org/delegated-proof-of-stake/


http://wiki.bitshares.org/images/5/5f/POS_Table_comparison_smaller.png

I see, so its calling a crypto currency a bank.

Also, that table is quite inaccurate. Ripple transaction time is 5 seconds and it was first that allows users created assets. There is also no 10% inflation via mining in bitcoin.

How will market pegged assets work? For example, I buy 10k USD worth of Apple stock, if it goes 100% up I cashout 20k. Did someone actually buy and sold those stocks or it is just like play money that brokers offer you for practice? If its like play money who pays the profit of 10k USD?

so much buy support much wow

Solid growth at solid volume is nice to see.

Ripple require trust for gateways to operate, bitassets do not require trust as the price is determined transparently on a decentralized block chain via a free market. In Bitshares, consensus is determined by people going short or long on an asset, and collateral is held to make sure the proper value is retained as determined by the market. In Ripple, price is determined by trusting the gateway they are holding the correct amount of collateral.

Also Ripple was 50% premined by a small corporation making the people within the company rich overnight... Meh. I think Stellar has a better distribution if you like the Ripple model, but I don't like that model because it requires users to trust the gateways that they aren't trading funny money. BitshareSX bitassets solves this problem.

Is it live now?

The columns need to be bigger or the text smaller... The numbers kind of blend together.

Pardon, this is just BTER trading of BTSX/BTC -- unfortunately it has such CSS issues on small window resolution.

https://bter.com/trade/btsx_btc

edit: see below for a screenshot of trading within the BTSX client (https://bitcointalk.org/index.php?topic=675455.msg8475315#msg8475315).

Ripple was 100% premined not 50%. BitshareX was also 100% premine.

In Ripple price is determined by market not by trust :)

Also, what do you call funny money? Gold backed by GBI (one of largest gold trader in world) is to you funny money but asset backed by asset itself (by bitsharex to be precise) is not funny money? If you want to trade real assets you have to trust someone. Only in case where you are not trading anything there is no trust. So if you want to trade USD for any crypto you have to trust that those USD are actually in bank account. As I understood, in BitSharesX you are not trading any real money or real assets. That would for me be definition of funny money.

Anyway, this is not about Ripple, its about BitSharesX.

So can you please tell me how do market peg assets work?

1. Yes it was kind of because it offers more services than a crypto-currency.

2. I didn't know Ripple was 5 seconds.

3. Yes there is greater than 10% inflation via Bitcoin in mining.

4. Someone who thinks Apple will go down will short Apple and then you buy and the trade is matched and the asset is created. The short posts collateral as do new people when they make trades. So whenever you want to sell your position is covered. I can't explain it that well, go see the forums.

This video may help https://www.youtube.com/watch?v=5BV55IrZi7g

There is no inflation in bitcoin if you know the total number that will be created. That is not inflation. Inflation by definition is infinite.

I see, so its not market pegged but trading token named as Apple with other people, basically free market? That is not same as market pegged, you depend of orders of other people rather then of market price of Apple.

Thnx for clarification.

I think that's just a screenshot from bter :)

The screenshot will probably look something like this I think


https://bitsharestalk.org/index.php?action=post;quote=95649;topic=7170.0

No inflation by definition isn't infinite.
If there is 10%+ inflation in Bitcoin per year, it means demand has to at least offset that to cover the inflation.

No it's not like a token, anybody can issue an Apple asset on NXT or something but it won't track the price, it has no value.
BitAssets track by consensus and use collateral to back up the position.

If you don't believe the peg will hold don't buy BTSX, the buying pressure now is because people have seen the dry runs and are confident in the mechanism when it is released soon. (As I said I'm not expert I just understand how big they are if they work, I suggest you go to the forum to learn more.)

Yes, inflation by definition is infinite. If you say I will pay you 10k in 10 years by 1k a year that is not inflation.

Ah, so it will really be pegged to market price? Basically, I can buy 100k Apple stock and if it reaches 200k and I sell it I will really get 200k from bitsharesx? Or will I have to find buyer on network willing to buy it from me?

Well, if you understand how big they are then you understand them. I dont care about buying pressure, I was just interested if what they say on web site that you can move money from one bank account to another is true as I would use alternatives to Ripple for sending money if they are on more exchanges. But that is not possible unfortunately.

Right.  Because it's impossible for NXT or any other asset exchange to add in real time tracking, right?  What sorcery does Bitshares X have to patch in a number reports from Yahoo or whatever the source is?
 
This thing is pretty much NXT's asset exchange with a few extra added ribbons to it.

I can create my own asset on Bitshares call "BitUsd", sell a million of that for... $1 million real USD and profit. :)

utopianfuture plz educate urself on bitshares first b4 posting bullshit like this :(
all the resources r there to read man :/

how can u even compare this with nxts asset exchange? LOL u must be trying to make a good clownz joke here

~CfA~

I am glad CfA found one crypto he likes :) I thought you were only into renmimbi.....glad to see you turn around :) Have fun!

No if Bitcoin stopped mining today there would be no inflation. The coins that are created inflate the current supply.

Yes you will get 200k if the peg holds, watch the video. https://www.youtube.com/watch?v=5BV55IrZi7g

You still don't understand bitassets

Yes.. It was 100% premined. What I meant was half of the premine was kept by the company, whereas in other cryptos (including Bitshares) it is more evenly distributed to end users.

Honestly I'm not too privy on how ripple works, I need to do more research on it. Ripple labs keeping 50% of the premine is a no go for me, so I will assume you are correct. To each their own I guess, but I have no interest in making some company's board members rich.

I did explain how BitsharesX bitassets work properly in my post though. Maybe this makes it more clear: http://www.youtube.com/watch?v=5BV55IrZi7g

I did watch video. So what happens with collateral if price of bitsharex falls for example 50%?

Currently Ripple Labs holds 72% of XRP not 50% :) But that doesnt mean it wont be distributed.

Yes I watched the video, still dont get it, please read my post above this one and maybe you can answer my question about colateral. Thank you

What happens?  He makes a post: "You dun understand how Bitshares werks"

It is the ad Hominem or Ad Hominemous chain within Bitshares X, proprietary technology.

just for my own clarification (correct me if I am wrong, it is important to me)

in Counterparty, NXT, Mastercoin etc. you can create an asset, which has the character of an IOU and is just backed by the trust in the issuer. With Bistshares you have a collateral which is liable for the created BitUSD. Example Bitshare is worth 100 units and creates 33 bitusd - these 33 bitusd units are basically subtracted from the Bitshare? Is this the idea?

If the pegging mechanism works this is really really great.

Thats exactly what I was wondering. But according to that video its open market not pegging mechanism. Also, its not clear to me what happens with colateral in case of fall of btsx price. They claim noone can take money from you.

If BitsharesX falls, the collateral is taken from the short side to compensate the longs for the fall of BitsharesX

The shorts end up with less BitsharesX and the longs end up with more BitsharesX.

I see thank you. So if it falls by more then 50% your longs are not covered?

Yes, the way I understand it.. if it falls by more than 50% then your long position is released as you have lost all of your collateral.

Yes, the benefit compared to counterparty/mastercoin/etc. is that the value of the commodity is determined in a trust less manner. Someone on Mastercoin can create a "gold" asset and you need to trust them that they have as much gold as they say they do. Bitassets can determine the price of gold in a decentralized manner that requires no trust.

I will admit the dynamics of going long/short can be a bit confusing, but the way it has been described by Daniel I see no reason why it would not work. It is an important experiment, because if it does work it is revolutionary. I personally believe it will work.. or at least it sounds like it will, but I suppose something could happen that no one expects.

I think your assessment of bitusd was correct, X amount of BitsharesX equals 1 bitUSD as determined by the BitsharesX free market. Once the bids(longs) and asks(shorts) fill in, market consensus should be reached similar to how it is on centralized exchanges. Collateral is held and released depending on how the value of BitsharesX moves. Which in theory should keep bitUSD equal to the value of a US dollar. This is the first completely decentralized method of determining the value of a dollar (or any other commodity) as compared to a crypto currency.

This is all new territory for everyone, me included. It seems people are being hesitant to explain this at the risk of sounding like an idiot. I guess I have no shame.. feel free to correct me if I am wrong.

Yes but it's not just that one trade. As the price is falling other people will be making trades creating new collateral. So big moves are not a problem only a flash crash of 60% maybe. But they take the trading fees and put them in like a black swan insurance fund in case that ever happens. So the backing should be there.

As I say I'm no expert feel free to ask your questions on the forum.

You've been trolling Bitshares all day. You are not even putting in the effort to understand bitassets. Other posters and I are trying our best to explain it to new users and understand it ourselves. It is complicated, but just because you don't understand it doesn't mean that others can't. It is complicated to learn how Bitcoin works at first too, this is the same, but I think over time it will become more clear as more discussions are had about it and the market goes live.

Go back to the Nxt forums and leave us alone. Sure, BitsharesX may be in a mini bubble due to price rising so fast. That does not mean that this is not a revolutionary idea. Bitcoin and every other crypto currency has gone through many mini bubbles and they are still alive and kicking. So what if BitsharesX price crashes? It does not change the fact bitassets are revolutionary.

ty for your explantation - I worked through this in february and had quite the same understanding. As well as you I think the idea is brilliant but I have a few concerns:

For me it is obvious that 1 bitUSD will not be equal to 1 USD for quite a time - whereas I see some advantages of a bitusd there will at least be a small percentage of depreciation due to the possibility of technical faults etc. pp. - will this difference be corrected? (still indifferent if a correction is good or bad)

Ask yourself - if you could have one real dollar or a bitusd - which one do you take (especially in the foreseeable future)? Long term if it works out it would be wonderful if they would be treated equally.

All that concerns given, I see a huge market potential if it somehow works well: Derivative markets, sports betting etc. pp (maybe in the very near future bitcoin exchanges which are not allowed to use "real" USD)

Really looking forward to the next weeks - I have a background in economics and this is also on a theoretical level very interesting.

I agree with you on this point. Everyone seems skeptical the system will work as advertised. A US dollar will be worth more than a bitUSD dollar in the immediate future after the market is launched, how long is anyone's guess. A BitUSD dollar will not be equal to a US dollar until two things happen, proper market depth is established (a large number of longs and shorts) and people see the system works and become less skeptical. Much like it is explained in the video.. a GoxDollar is not equal to a Btc-eDollar is not equal to a WellsfargoDollar is not equal to a BitusdDollar is not equal to a real US dollar.  :)


I agree.. There are a lot of neat things you can do with bitassets if they work as described. It is really exciting. :)

It is a very interesting experiment to say at least.  If the peg does not work, here is the plan from Bytemaster:

https://bitsharestalk.org/index.php?topic=7231.0

Why Bitshares is better than NxT?

I think Nxt is better in some ways, but worse in others. Nxt has more features in one crypto currency (more features in general at the moment), and Bitshares is creating many crypto currencies (or Distributed Autonomous Corporations) that have specific purposes. That is one thing I don't like about Bitshares... they have many different DACs using their own token and they are not all in one token like in Nxt, but I understand why they did it this way as they are technically businesses and it is important for organization/accounting/Etcetra that they be separated. In my opinion, Bitshares has much better distribution, along with the following innovative features:

Each Bitshares DAC has a few general features. An improved PoS algorithm called Delegated Proof Of Stake, 15 second block times, and built in anonymity via TITAN. Then the more specific features are split into different crypto currencies (or DACs):

So far there is:

BitsharesX - bitassets - Has the ability to determine the value of a commodity (US dollar, Euro, Gold, Silver, Etcetra) in a completely decentralized manner. The price is determined on a decentralized market place in which people take different positions on each commodity.. IE. going long or short.

BitsharesVote - Decentralized voting - has many features.. Haven't researched it enough to explain them.

BitsharesDNS - Decentralized DNS - has many features.. Haven't researched it enough to explain them.

There is a lot more information here: http://bitshares.org/

+5

IMHO: Nxt it's "Microsoft", BitShares it's "Apple" - doing same, but in different way.

That's actually quite a good comparison - NXT can do more things sometimes for a lower cost, but Bitshares X looks like it will be a bit more up market with higher quality features.

From the current BTSX exchange sites, which ones allow you to buy with fiat?
And which one do you consider as being more reliable (easy and straightforward to put money in and out)?

Bytemaster proposed paying interest/rewards on BitAssets, like bitUSD, bitCNY, bitBTC will earn interest by holding them.
https://bitsharestalk.org/index.php?topic=8396.0;topicseen

Still don't get it: how bitsharesx is ultimately different from bitcoin or any other surrogate coin?

You should download the wallet to find out how http://bitshares-x.info/

BitSharesX is not a coin - it's first decentralized bank and exchange.
Please look here for details: http://wiki.bitshares.org/index.php/BitShares_X

As a surrogate coins you can count BitSharesX assets like BitUSD, BitBTC, etc.

Yup that's huge. I suggest people get in now if ever.

please send me a bitshare, so that I can register my account in order to be able to retrieve my bitshares from bter. they only accept registered accounts... but these cost bitshares... :( Thanks for your help in advance

Account Key:     BTSX5LWRMASCLqMpFpu61KkdSfjjjyMosPSJ4GKx5Qa45Zz5KCXmZ9