Anyone notice the uptick in usage from Ancun? Could be a short term blip but if we start to see higher numbers(100k+) should be the start of companies actively utilizing Factom.
CocoLibre where did you find this chart? Thanks. |
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Voting or Synereo, excited to see their alpha product in September!
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I'll try and clear up a few misconceptions. BitAssets are shorted into existence. The shorters are forced to buy back the BitAsset they shorted every 30 days. So anytime someone buys $1 BitUSD, there is guaranteed to be a buyer within 30 days. This keeps the peg in place, because people know that if you can snap up BitUSD down below the price feed, then later you will be able to sell it closer to the price feed (or slightly above). You can view the accuracy of the peg here: https://bitsharesblocks.com/charts/feeds?asset=USD. You can see it usually stays +/- 2% of the price feed, occasionally slipping to 3%. So it's been working well for months and the more liquidity gained in the future will improve its function, making it get tighter and tighter. So that's the peg, then there's the collateral. The collateral percentage for each BitAsset is viewable here: https://bitsharesblocks.com/assets/market. You can see there is over 250% collateral for every BitAsset locked up by the BitShares blockchain. This high collateral requirement is due to the unstable price of BTS, for more stable collateral types typically lower percentages are needed. All collateral is in BTS, but does BTS have any value? - Distribution. BTS was initially distributed via proof of work, the same as bitcoin. - Utility. BTS is the fuel for a derivative instrument that create stable cryptocurrency - a decentralsed crypto-bank for all. - Current distribution. BTS is now created via real proof of work, DPOS (delegated proof of stake). Developers do work for BitShares in exchange for BTS. It's normal for derivatives to be backed by collateral different to that of the derivative. A gold derivative doesn't have to be backed by gold, just an asset of equivalent value. In this case, BitGOLD is backed by as much BTS as it takes to buy a physical ounce of gold. Very soon though you will be able to exchange BitGOLD and BitSiLVER 1:1 with the physical metal at http://cryptosmith.info/. Also, BTC38.com accepts BitCNY as if it were real CNY and actually pays a small bonus for depositing it. This is just the beginning for BitShares. Stocks are coming soon, backed by real stock bought on a stock exchange. |
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Why choose Ripple with their lopsided distribution when you can support a decentralized exchange with a USD pegged liquidity token? Less volatility == tighter spreads. Serious inquiry btw... I genuinely want to know what it has going for it other than a few partnerships. SWIFT integration I guess?
Ripple may have the advantage of being around longer, but I just can't see the advantages over BitShares- centralized distribution, no stakeholder governance, volatile liquidity token, and no market pegged assets are all deal breakers for me. I guess the path finding algorithm is good though?
Bitshares is also good, they have done a great job. BitShares is like a decentralised Ripple with extra features. |
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People have already said it, BitShares is a decentralised exchange, or at least the closest it thing possible to it. Try it for your self https://wallet.bitshares.org/. BitUSD is basically a way for bitcoiners to lock their BTC to the value of the USD without touching a regulated centralised service. The bank of the cryptosphere. |
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"altcoin" is an outmoded term. Anything that's a mere altcoin, i.e. clone of bitcoin with minor changes will indeed faire very badly if it hasn't died already. Crypto 2.0 systems, such as BitShares, which received millions in funding and had 18 months+ of full time development by a brilliant team, is not really an "altcoin". It's a vital part of the crypto ecosystem providing a stable crypto bank account for everyone in the cryptospace without having to touch regulated exchanges. When bitcoin gets an investment meal, it feeds the real crypto 2.0 projects as well. It's good for the whole ecosystem.  |
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BitShares is a decentralied exchange. The only difference between it and what you describe is it doesn't trade altcoins (yet), just BTC, fiat, gold and silver.
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Utter nonsense, the OP is referring to a single forum post that was moderated rather rashly and open discussion has continued since. What is really "rearing it's head" in BitShares is a professional crowdfunding platform which received seed funding from a world famous VC: https://bitsharestalk.org/index.php?topic=13428.msg175507#msg175507 |
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Yes BitShares is decentalised and much more safe than storing on centralised exchanges. It's an exchange on a blockchain so it can't be compromised without the whole blockchain being compromised. If you hold BitBTC you own the private key, yet can trade against USD, gold, silver from within the wallet - which is really a downloadable exchange.
Remember when holding BTC on an exchange it is not "real" BTC, its an exchange IOU. bterBTC (BTC held on bter.com) was stolen recently, so was bitstampBTC, goxBTC etc. BitBTC is the same, it's not "original" bitcoin either, it is BitSharesBTC, but it is secured by the blockchain which makes all the difference. You control the private key. With BitBTC there is no central server to hack. (plus it earns interest and transactions confirm way quicker).
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There is DPOS delegate-proof-of-stake by BitShares where useful work for the DAC is basically rewarded by extra mining rewards going to those who produce more work as judged by the BitShares stake-hodlers. People can get "hired by the blockchain" or "crowdhired".
The blockchain isn't secured by the work they do though, they just get extra rewards for working for the DAC.
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A safe place to store and trade with BTC is in bitBTC, which earns interest. You can use http://metaexchange.info as an instant bridge. Keeping it on the BitShares decentralised exchange as bitBTC is the future. People can trade bitBTC against bitUSD without the hacking risk that comes with centralised services while getting exposure to the same market. I hope these bter thieves are caught and the money returned. Theft sucks. Nothing is safter than a cold wallet or hardware wallet for storing BTC and a personal full bitcoin wallet with multisig is probably be more secure than bitBTC. But you can't trade BTC against USD or anything at all from the relative safety of a personal bitcoin wallet (yet), but you trade against the USD with bitBTC, because the exchange is in the wallet. bitBTC can be traded against bitUSD, bitGOLD, bitSILVER, etc. So for people who want to get exposure to the BTC/USD market, the bitBTC/bitUSD market is the most secure way to trade. What is everyone waiting for? The solution to all these horrible bitcoin heists exists! Lets use it! If you change your mind you can always trade the bitBTC back to bitcoin by going bitBTC-BTS-BTC.  |
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A safe place to store and trade with BTC is in bitBTC, which earns interest. You can use http://metaexchange.info as an instant bridge. Keeping it on the bitshares decentralised exchange as bitBTC is the future. People can trade bitBTC against bitUSD without the hacking risk that comes with centralised services while getting exposure to the same market. I hope these bter thieves are caught and the money returned. Theft sucks. Nothing is safter than a cold wallet or hardware wallet for storing BTC and a personal full bitcoin wallet with multisig would probably be more secure than bitBTC. But you can't trade BTC against USD or anything at all from the relative safety of a personal bitcoin wallet (yet), but you trade against the USD with bitBTC, because the exchange is in the wallet. bitBTC can be traded against bitUSD, bitGOLD, bitSILVER, etc. So for people who want to get exposure to the BTC/USD market, the bitBTC/bitUSD market is the most secure way to trade. What is everyone waiting for? The solution to all these horrible bitcoin heists exists! Lets use it! If you change your mind you can always trade the bitBTC back to bitcoin by going bitBTC-BTS-BTC. |
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A safe place to store BTC is in bitBTC, which earns interest, by using https://metaexchange.info as an instant bridge. Keeping it on the bitshares decentralised exchange as bitBTC is the future, then people can trade it against bitUSD without hacking risk while getting exposure to the same market. I hope these thieves are caught and the money returned. This sucks. Well, its still storing it with a 3rd party and can thins can turn ugly at anytime. Using metaexchange there is only a momentary (literally seconds) risk while the transfer is made. As soon as the bitBTC are in your BitShares decentralised exchange wallet, they are much much more secure than a centralised exchange. Not as secure as cold storage, but a huge increase in security vs centralised exchanges while maintaining the ability to trade. |
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