[BTS] Bitshares #1 Fastest Crypto, Tokens, DEX, ICOs since 2014 (unofficial ಠ_ಠ)

[sammrheza]

is it another abandoned project ?

[Suz7]

Bikercoin Digital Cryptocurrency

Bikercoin started as a CryptoNote coin on June 07, 2016 and as of July 06, 2017 migrated on top of the BitShares blockchain. Bikercoin will now benefit from BitShares existing ecosystem and decentralized Exchange.

BIC to BIKERCOIN(BitShares) Conversions will Start July 10th 2017 - End August 25, 2017. To get your BIC Balance X 2, First get a BitShares Wallet Then Deposit all your BIC in a wallet online at wallet.bikercoin.org then click the Convert all BIC coins to BitShare BIKERCOIN

[revelacaogr]

http://www.sovereignhero.com/


.....The HERO is a decentralized currency, double-backed by equity in BitShares. BitShares is backed by the revenue streams of our companies & their capital.  These companies are backed by the huge audiences they can reach with their services. The result is the world's first Economy Backed Currency. All on a transparent, incorruptible, speed of light network.

The HERO is a new kind of blockchain-based digital currency. It has all the advantages of crypto currencies (fast, cheap transaction, no middlemen, counterpart-party risk free, decentralized, accessible, etc.) but, unlike others, HERO has a predictable price.

The HERO is a formula-pegged asset on the BitShares blockchain. It’s value is pegged to USD-denominated formular as simple as:

USD since creation of the FED + 5% a.p.r.
This predictability constitutes a USD-pegged, component and a yearly capital appreciation of 5%. This fixed yearly capital appreciation isn’t quite like interest as it does not pay out HEROs every once in a while, but instead, the USD-valuation of HERO grows at a fixed 5% per year....

[favdesu]

Guys, we need to talk Passwords. Again.
https://steemit.com/bitshares/@ash/guys-we-need-to-talk-passwords-again

[scaryvirus]

2017-07-10 Bitshares entered unplanned maintenance mode
https://steemit.com/bitshares/@ash/bitshares-entered-unplanned-maintenance-mode

Good job everyone. Network back to top shape. Problem identified and fixed and everyone updated quickly. First major issue in bitshares 2.0. Was great to see how EOS takes good care of bitshares.

Don't forget to report issues you find on github like https://github.com/bitshares/bitshares-ui/issues

[favdesu]

Beauty Sleep is over! BitShares restarting
https://steemit.com/bitshares/@ash/beauty-sleep-is-over-bitshares-restarting

[HR]

Beauty Sleep is over! BitShares restarting
https://steemit.com/bitshares/@ash/beauty-sleep-is-over-bitshares-restarting

Do you think there will be a PR report to address possible loss of confidence issues? Something that will project professionalism and build confidence?

[kiddo]

Bikercoin Digital Cryptocurrency

Bikercoin started as a CryptoNote coin on June 07, 2016 and as of July 06, 2017 migrated on top of the BitShares blockchain. Bikercoin will now benefit from BitShares existing ecosystem and decentralized Exchange.

BIC to BIKERCOIN(BitShares) Conversions will Start July 10th 2017 - End August 25, 2017. To get your BIC Balance X 2, First get a BitShares Wallet Then Deposit all your BIC in a wallet online at wallet.bikercoin.org then click the Convert all BIC coins to BitShare BIKERCOIN

Is this legit? or is another scam?

[favdesu]

Beauty Sleep is over! BitShares restarting
https://steemit.com/bitshares/@ash/beauty-sleep-is-over-bitshares-restarting

Do you think there will be a PR report to address possible loss of confidence issues? Something that will project professionalism and build confidence?

http://www.bitshares.foundation/announcements/2017-07-11-bitshares-downtime-incident

[HR]

Beauty Sleep is over! BitShares restarting
https://steemit.com/bitshares/@ash/beauty-sleep-is-over-bitshares-restarting

Do you think there will be a PR report to address possible loss of confidence issues? Something that will project professionalism and build confidence?

http://www.bitshares.foundation/announcements/2017-07-11-bitshares-downtime-incident

I'm getting a 404 on that URL.

Never mind. Loading now. Thanks!


Add: I would also recommend a press release leveraging the positives: the halt caused by the bad assertion automatically protected all previous transactions and the team response was phenomenally quick. I would also recommend a good copy edit.

Got to turn the negative into a positive and in this case that means showing the world professional responsiveness that gets the job done now. That's what people want to hear. It's a win-win. BitShares ends up coming out of this looking like a hero, and crypto's reputation in general is also bolstered in the process.

Just a simple press release with a positive spin. It doesn't take much to get big returns.  

[favdesu]

HERO spotted on CoinMarketCap
https://steemit.com/bitshares/@ash/hero-spotted-on-coinmarketcap

[scaryvirus]

I took some comments I got from people on improvement ideas for bitshares and created a list

http://imgur.com/a/QAt6a

with it officially submitted at https://github.com/bitshares/bitshares-ui/issues/190



If you find issues with UI, just like me submit at https://github.com/bitshares/bitshares-ui/issues with as much detail as possible so that they can respond quickly



added http://www.bitshares.foundation/ to original post as well, great report there!

[scaryvirus]

2017-07-12 Bitshares - State of the Network - 11th July 2017
https://steemit.com/bitshares/@steempower/bitshares-state-of-the-network-11th-july-2017

[scaryvirus]

2017-07-13 BitShares Synergies (neat video for blockpay + bitUSD)
https://steemit.com/bitshares/@ash/bitshares-synergies

[HR]

I've got a question that I thought I'd google first before asking something already answered.

What's the difference between BitShares and OpenLedger?

https://www.google.es/search?q=what%27s+the+difference+between+bitshares+and+openledger&ie=utf-8&oe=utf-8&client=firefox-b&gfe_rd=cr&ei=O-BnWbPEDIaE3gPW87VA

The first pertinent result is a Quora "No Answers Yet" page. The second looks to be a very accurate, albeit somewhat casual, explanation.

In a word, could we say that OpenLedger is the equivalent of a re-seller, and that BTS is the real thing?

[scaryvirus]

I've got a question that I thought I'd google first before asking something already answered.

What's the difference between BitShares and OpenLedger?

https://www.google.es/search?q=what%27s+the+difference+between+bitshares+and+openledger&ie=utf-8&oe=utf-8&client=firefox-b&gfe_rd=cr&ei=O-BnWbPEDIaE3gPW87VA

The first pertinent result is a Quora "No Answers Yet" page. The second looks to be a very accurate, albeit somewhat casual, explanation.

In a word, could we say that OpenLedger is the equivalent of a re-seller, and that BTS is the real thing?

bitshares is the blockchain

bitshares.org and openledger.io and bitshares.eu and freedomledger.com and btsabc.org and rudex.org are all hosting slightly varying user interfaces for web clients to interact with same bitshares blockchain and order books

additionally openledger blocktrades transwiser and bitkapital offer bridges and gatways for interacting with external blockchains

for example, openledger gateway is responsible for exchanging open.BTC, open.DASH, and more open.* assets with their equivalent on those respective blockchains

additionally the guys at openledger do a lot of reach out to other projects to grow use of bitshares ecosystem https://openledger.info/ and offer stake in their portfolio of companies via https://obits.io/

bitshares.eu, openledger and bitshares.org are also completely separate teams

[scaryvirus]

Recording this here from https://t.me/Bitshares_Traders

Permie: Explaining shorting bitUSD

For ease of explanation let's assume 1bts = 1USD

If you want to take a margin-long position on bts of $10 (buy 10bts on margin) then you will require at LEAST 175% collateral.

This means you must ALREADY OWN ($10 * 1.75) = $17.50 worth of bts (17.5bts)

With your investable-stash of 17.5bts you can use them as collateral for a loan. You can "mortgage" your shares in exchange for a loan of bitUSD.

So you go to the USD:BTS market on the DEX and "borrow bitUSD". Choosing the minimum (RISKY!!) collateral ratio of 1.75 (175%)

You put up your 17.5bts as collateral, confirm the loan, and then the blockchain with transfer you $10bitUSD.

You must/can then USE/SPEND/SELL this bitUSD loan.

To go margin-long bts you would then spend your $10bit to buy more bts on the market.

At the price of 1bts=$1
You now have 10bts in assets,
$10 in liabilities and
17.5bts locked-up in collateral (mortgage-debt)

With the MINIMUM collateral ratio of 175% you have a very risky trade.

If the price of bts then falls to $0.99/bts you then have a $10 liability,
but your 17.5bts would only $17.33 worth of bts-collateral.
This would result in a margin call.
Your 17.5bts would be used to buy $10bitUSD off the market. As the price is only $0.99/bts, 10.1bts of your collateral would be used to buy $10bit
And the remaining 7.4bts would be returned to you.

You could now STILL have the 10bts you bought on margin, but only 7.4bts returned from your collateral.

Your total bts net-worth would now be 17.4bts.
A LOSS of 0.1bts

=================

If the price went UP to $2/bts

You would now have the 10bts you bought on margin,
$10 liabilities
And 17.5bts in collateral worth $35bitUSD

If you then "closed" your position, you would need to sell 5bts of your 10bts you bought on margin for $10bitUSD
You would then use this $10bit to repay your loan/mortgage and your 17.5bts would be returned to you.

17.5bts collateral + the 5bts you didn't have to sell to repay the loan = 22.5bts net-worth

"How to profit by helping Bitshares gain liquidity and become more appealing to new customers.
"Make the market" between USDT and bitUSD "

Permie:

OPEN.USDT on the DEX is an OpenLedger "iou" they claim to always redeem for an equivalent amount of USDT (Tether) when/if you request delivery (want to withdraw tether).
This enables DEX traders to gain price exposure to Tether

1USDT is (allegedly, don't trust it too much) backed by $1 worth of "real" dollars in a fiat bank account controlled by Tether company.

This means that USDT is a "bearer asset" worth $1.
Anyone (a "bearer") who holds USDT can exchange for $1 fiat

On the DEX, there is a market between OPEN.USDT and bitUSD.
If bitUSD trades at (approximately) the same price as USDT then bitUSD can be shown to ALSO be a "bearer asset" worth $1

bitUSD on the DEX is shortened to simply "USD"
So on the DEX OPEN.USDT:USD market you will see that approximately 1USDT trades for approximately 1bitUSD.

In reality bitUSD is valued slightly higher, as it is decentralised.

This price-similarity is only created/encouraged by the free market.
Traders who really do value USDT the same amount as they value bitUSD.

Traders who wish to exit the DEX and the cryptosphere (withdraw from crypto and receive fiat dollars to their bank account) want to purchase Tether because it is listed on many centralised exchanges.
These traders likely already have an account set up with polo/kraken/bitrex/etc and they find Tether the easiest fiat-derivative to withdraw.

USDT is however only worth as much as Tether the company is able to keep their promises and redeem USDT for fiat $.
There is a risk of "default", that Tether will suspend or cancel all withdrawals and USDT will become temporarily or permanently useless.

The extent to which traders fear this risk will determine the price at which USDT trades against bitUSD.
bitUSD is backed by at least 175% collateral in bts.
It has visible and PROVABLE reserves backing bitUSD.
USDT relies on Tether and the fiat-bankers doing proper audits of Tethers bank-reserves.

If rumours begin to circulate that Tether is experiencing issues, or withdrawals to bank-fiat are taking along time, the price of USDT in terms of bitUSD will go down. (bitUSD would become worth more than USDT)

=======

There is also the risk that OL in particular has issues that mean they temporarily or permenantly stop honouring their OPEN.USDT for "real" USDT.
This risk will also be priced into the market by traders

=========
There is obviously also the risk of bitUSD collapsing, in this case for a short time USDT would be worth more than bitUSD on the OPEN.USDT:USD DEX market. Only a short time, because if bitUSD /Bitshares itself is collapsing then I doubt traders will continue using the DEX

============

Traders who want to profit by buying and selling OPEN.USDT are known to be "market makers".
They provide offers to SELL USDT AND offers to BUY USDT.

For example, they offer to BUY USDT for 0.95bitUSD, and at the same time have an open offer to SELL USDT for 1.05bitUSD.
If an impatient buyer or seller of USDT comes into the marketplace and accepts the offers the "market maker" is offering, then the impatient user gets the tokens they want RIGHT NOW, at a price they are willing to pay.

The patient "market maker" gets profitable trades fulfilled as and when impatient trades come to market.

The market maker of this example makes a 10% profit.
Just like any item, they have bought USDT low, and sold it high.
The profit % is known as "the spread"

As more and more traders come into the USDT:USD market, they will compete to be first in line so that the impatient users who come to market will accept their offers first.
More market makers = lower spreads and Lower profit per trade BUT it also means HIGHER LIQUIDITY!!!!

Liquidity is the amount of USDT available to be bought or sold by the impatient user.
Users who come to the DEX want to be able to perform their desired actions (buy or sell their USDT in this case) AS SOON AS POSSIBLE for the BEST PRICE possible.

Bitshares-bulls (bts shareholders) can help improve the user experience for impatient users/customers by "making the market"

This works with any market pair on the DEX, but can be VERY RISKY.
For example bts:BTC market making is much much riskier because both the BTC price and bts price are free floating. They are not related in any concrete way.

USDT and bitUSD both TARGET THE VALUE OF $1, and therefore they remain closely related.

This makes the OPEN.USDT:USD market on the DEX the easiest market to "make" for novice or time-limited traders

[scaryvirus]

max leverage can actually be around 2.3x on the dex

Permie: The maximum leverage you can aquire via shorting on the DEX is

1/1.75 = 57% extra bts.

Then if you take this 57% borrowed bts you can then use THAT borrowed bts as collateral for a new loan...

And borrow the value of 57% of THAT bts...
Et cetera..

So if you started with 1000bts.
You could lock up those 1000bts as 1.75x collateral.
You would then receive enough bitUSD to buy an additional 571bts.

Then you could lock up those 571bts in a new bitUSD 1.75x contract, and receive enough bitUSD to buy 326bts.

Then lock up those 326bts as collateral in a 1.75x loan, and buy 186bts

Lock up 186bts in a new 1.75x contract, and buy 106bts

106bts in a 1.75x contract and buy 60bts

60bts in a 1.75x contract and buy 34bts... 

So from 1000bts you could gain price exposure to 2,283bts.

Giving you 2.2x leverage...

You would be at immediate risk of a downward movement in the USD/BTS price so it would be incredibly risky.

But the max leverage the DEX can give you is actually ~2.3x

[scaryvirus]

Why borrow bitUSD?

Permie: You either short/borrow bitUSD in order to buy more bts (leverage)

OR

You short(borrow)bitUSD in order to spend money now (go on holiday, buy yourself some physical gold coins ... etc )
You borrow from the future value of your bts.

Let's say you're a big bts bull and you think your bts will be worth $100k one day, you can spend some of this money NOW buy borrowing bitUSD.
You only actually "pay" when you settle the debt.
Ideally you settle this debt when your shares are worth a lot more (I.e you have to sell far fewer of your shares in the future than you would if you sold them today)
 The bitUSD you borrow is yours forever.
The blockchain won't take it from you
 What you do with it is up to you
 Shorting/borrowing bitUSD is also useful because you get money NOW.
If bts collapses and goes to zero, at least you already withdrew some cash (but without having to sell your shares)

If bts goes to the moon then you only have to sell a teeny tiny amount of them in  he future, instead of lots of shares now

[scaryvirus]

These are great case studies to understand so I'm backing them up here for future reference. Sorry about message spam.

Q: so simple case for someone new, they buy 1 bitUSD from dex, and immidately hit settle, does bts they get come from smart contract collateral or is it selling that bitUSD on the market for new bts?

Permie: If you hit "settle" the DEX forcibly sells some of the collateral of the LEAST COLLATERALISED SHORT POSITION of bitUSD, until the value of the "settlement" is recouped (in this case $1bit)

So 1 other thing to look out for when you're shorting is not only the 175% minimum collateral ratio, you also DONT want to be the least collateralised

If you call for settlement on your $1bit, somebody else's short position collateral gets taken to pay you $1 worth of bts. I think you also pay a 1% fee

So you would receive 99c worth of bts

Q: does $1 worth of bts value come from the witness feed or market price?

Permie: Price feed. The price feed is there for that sole purpose: To keep traders "honest." If they trade too far from the fair market value, holders of bitUSD can call for settlement and the traders will be forced to pay the fair price. But it takes 24hours

Q: what happens to 1 bitUSD i had? where does it go? destroyed?

Permie: yes, I think so

seems to match https://steemit.com/bitshares/@btswolf/bitshares-short-selling-bitusd