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clout
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July 05, 2014, 12:01:29 AM |
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How are you basing your ROI calculations on? How do these DAC generate the profit for you?
They don't. But the bags are getting sooooooo heavy....... Brian have you done any research into BitShares? I don't think you have. Or you would understand why pts is extremely undervalued and this is a good entry point for investing in next generation blockchain technology. Bitshares-PTS is a simple clone of bitcoin. Its specs are not where it gets its value from. The value of PTS comes from the fact that it gives you a share of future distributed autonomous companies that are being launched by Invictus Innovation and other developers using the bitshares_toolkit. I encourage you to check out the alfa testing that is going on currently. None of those "distributed autonomous companies" exist. PTS gives you stake in non existent companies, hence its non existent value. I wonder, can I buy these companies that don't exist yet, with dollars that don't exist yet? I'm guessing that while they expect you to take their word that you will eventually get something, they don't take IOUs but only hard cash. Funny how these scams always work the same way. Some major enhancements to the blockchain technology have already been implemented that make it much better than any other crypto-currnency/crypto-equity platforms to date...
Yea sure. Something like 400 altcoins exist and they all promise to be "major enhancements to blockchain technology". Maybe they are and maybe they aren't but no one cares because you can't actually buy anything with them. The BitShares platform uses Delegated Proof of Stake ( http://bitshares.org/delegated-proof-of-stake/), which allows for greater, more effiecient security and transaction processing than bitcoin at a fraction of the cost. Blocks are produced every 15 seconds and *full* confirmation is around 12 minutes. Except the devs fucked up the difficulty re targeting so no one is mining it. So transactions now take literally DAYS to confirm, not seconds or minutes. Your first clue that they don't care should have been when they never fixed this. Listen, I do appreciate PTS for what it was. For a brief window of about 3 or 4 weeks, it was *immensely* profitable to mine. I probably made more BTC in that one month mining PTS than I have made mining everything else put together before and since. But come on that's all it ever was, a quick buck for the devs that the rest of us could ride along for. When they took the snapshot and then never released the DAC that should have finally clarified for you that there was no substance behind the hype. But then in that 3 day window when the difficulty was normalized, there people like you were again, still buying. So I get it, I get that you bought into the hype and bought these coins, and I appreciate that. But the time to get out was months ago, back when you still had a chance of convincing people that these DACs were real. Not now, after every deadline has been missed and no one believes it anymore. It amuses me when I see you and the other pumpers trying to build up this coin so you can dump it off on some other unsuspecting new person. Of course you all deny that's what you're doing but come on. Really? If you seriously believed all the hype about this coin that you spew, you wouldn't be altruistically sharing that information with us and thus diluting your own profits, you would just buy the coins quietly and keep your mouth shut. You wouldn't be advertising, you would be hoping no one else notices! Anyways, you want to make money in this game? Ditch the shitcoins and buy BTC. It's a currency, not a fucking social movement or the answer to all of life's questions even the ones you didn't ask yet, so it doesn't have all the cute gimmicks. It doesn't have some fake anonymity, or puny interest rate, or DACs, or shitty video games built into the browser, or whatever gimmicky shit people are putting in alt coins these days to cover up the fact that the currency can't actually be used as a currency. BTC is boring, all you can do with it is buy shit. I'm not talking about pts. im talking about bitshares x, the current iteration of which lays the foundation for all other bitshares dacs. please see the links i provided in my previous post. the bitshares blockchains have the features I just outlined above which makes them far better than any system to date including bitcoin. there is no mining. block times are 15 seconds. and confirmation is one block. initial transaction per second will be 10. the alpha testing has demonstrated that the blockchain can handle 100tps. I don't have any pts at the moment, but I'm currently buying them. there will be 4 major snapshots that take place in the following weeks. Pts will go up just like it did for the original bitshare x snapshot. if you are a speculator you know this to be true. and if you are a long time investor who has seen the development team demonstrate a system that is far better than any to date you will also understand this to be true. |
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Whoever mines the block which ends up containing your transaction will get its fee.
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bitcoincal
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July 05, 2014, 02:21:01 AM |
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Well, in the next few weeks were gonna see who was right about this?  |
1CuWECCUQwkmQTpJdXd6Ga5tXKoJ5f8tPb
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clout
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July 05, 2014, 02:35:56 AM |
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Well, in the next few weeks were gonna see who was right about this? If you just do your research its a no brainer |
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brian_23452
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July 05, 2014, 02:37:21 AM |
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How are you basing your ROI calculations on? How do these DAC generate the profit for you?
They don't. But the bags are getting sooooooo heavy....... Brian have you done any research into BitShares? I don't think you have. Or you would understand why pts is extremely undervalued and this is a good entry point for investing in next generation blockchain technology. Bitshares-PTS is a simple clone of bitcoin. Its specs are not where it gets its value from. The value of PTS comes from the fact that it gives you a share of future distributed autonomous companies that are being launched by Invictus Innovation and other developers using the bitshares_toolkit. I encourage you to check out the alfa testing that is going on currently. None of those "distributed autonomous companies" exist. PTS gives you stake in non existent companies, hence its non existent value. I wonder, can I buy these companies that don't exist yet, with dollars that don't exist yet? I'm guessing that while they expect you to take their word that you will eventually get something, they don't take IOUs but only hard cash. Funny how these scams always work the same way. Some major enhancements to the blockchain technology have already been implemented that make it much better than any other crypto-currnency/crypto-equity platforms to date...
Yea sure. Something like 400 altcoins exist and they all promise to be "major enhancements to blockchain technology". Maybe they are and maybe they aren't but no one cares because you can't actually buy anything with them. The BitShares platform uses Delegated Proof of Stake ( http://bitshares.org/delegated-proof-of-stake/), which allows for greater, more effiecient security and transaction processing than bitcoin at a fraction of the cost. Blocks are produced every 15 seconds and *full* confirmation is around 12 minutes. Except the devs fucked up the difficulty re targeting so no one is mining it. So transactions now take literally DAYS to confirm, not seconds or minutes. Your first clue that they don't care should have been when they never fixed this. Listen, I do appreciate PTS for what it was. For a brief window of about 3 or 4 weeks, it was *immensely* profitable to mine. I probably made more BTC in that one month mining PTS than I have made mining everything else put together before and since. But come on that's all it ever was, a quick buck for the devs that the rest of us could ride along for. When they took the snapshot and then never released the DAC that should have finally clarified for you that there was no substance behind the hype. But then in that 3 day window when the difficulty was normalized, there people like you were again, still buying. So I get it, I get that you bought into the hype and bought these coins, and I appreciate that. But the time to get out was months ago, back when you still had a chance of convincing people that these DACs were real. Not now, after every deadline has been missed and no one believes it anymore. It amuses me when I see you and the other pumpers trying to build up this coin so you can dump it off on some other unsuspecting new person. Of course you all deny that's what you're doing but come on. Really? If you seriously believed all the hype about this coin that you spew, you wouldn't be altruistically sharing that information with us and thus diluting your own profits, you would just buy the coins quietly and keep your mouth shut. You wouldn't be advertising, you would be hoping no one else notices! Anyways, you want to make money in this game? Ditch the shitcoins and buy BTC. It's a currency, not a fucking social movement or the answer to all of life's questions even the ones you didn't ask yet, so it doesn't have all the cute gimmicks. It doesn't have some fake anonymity, or puny interest rate, or DACs, or shitty video games built into the browser, or whatever gimmicky shit people are putting in alt coins these days to cover up the fact that the currency can't actually be used as a currency. BTC is boring, all you can do with it is buy shit. I'm not talking about pts. im talking about bitshares x, the current iteration of which lays the foundation for all other bitshares dacs. please see the links i provided in my previous post. the bitshares blockchains have the features I just outlined above which makes them far better than any system to date including bitcoin. there is no mining. block times are 15 seconds. and confirmation is one block. initial transaction per second will be 10. the alpha testing has demonstrated that the blockchain can handle 100tps. I don't have any pts at the moment, but I'm currently buying them. there will be 4 major snapshots that take place in the following weeks. Pts will go up just like it did for the original bitshare x snapshot. if you are a speculator you know this to be true. and if you are a long time investor who has seen the development team demonstrate a system that is far better than any to date you will also understand this to be true. You mean the bitshares X that was supposed to be released back in February? The one where, everyone like you bought up PTS from people like me to get it before the snap shot but then never got anything for it? That bitshares X? Getting burned once wasn't enough, you need to come back for more? Anyways, as that guy said, there is little reason to argue about this. PTS is currently trading at 0.0069BTC on Cryptsy, we can all just come back in a month or two and see what new low it has achieved. |
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clout
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July 05, 2014, 04:19:28 AM |
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How are you basing your ROI calculations on? How do these DAC generate the profit for you?
They don't. But the bags are getting sooooooo heavy....... Brian have you done any research into BitShares? I don't think you have. Or you would understand why pts is extremely undervalued and this is a good entry point for investing in next generation blockchain technology. Bitshares-PTS is a simple clone of bitcoin. Its specs are not where it gets its value from. The value of PTS comes from the fact that it gives you a share of future distributed autonomous companies that are being launched by Invictus Innovation and other developers using the bitshares_toolkit. I encourage you to check out the alfa testing that is going on currently. None of those "distributed autonomous companies" exist. PTS gives you stake in non existent companies, hence its non existent value. I wonder, can I buy these companies that don't exist yet, with dollars that don't exist yet? I'm guessing that while they expect you to take their word that you will eventually get something, they don't take IOUs but only hard cash. Funny how these scams always work the same way. Some major enhancements to the blockchain technology have already been implemented that make it much better than any other crypto-currnency/crypto-equity platforms to date...
Yea sure. Something like 400 altcoins exist and they all promise to be "major enhancements to blockchain technology". Maybe they are and maybe they aren't but no one cares because you can't actually buy anything with them. The BitShares platform uses Delegated Proof of Stake ( http://bitshares.org/delegated-proof-of-stake/), which allows for greater, more effiecient security and transaction processing than bitcoin at a fraction of the cost. Blocks are produced every 15 seconds and *full* confirmation is around 12 minutes. Except the devs fucked up the difficulty re targeting so no one is mining it. So transactions now take literally DAYS to confirm, not seconds or minutes. Your first clue that they don't care should have been when they never fixed this. Listen, I do appreciate PTS for what it was. For a brief window of about 3 or 4 weeks, it was *immensely* profitable to mine. I probably made more BTC in that one month mining PTS than I have made mining everything else put together before and since. But come on that's all it ever was, a quick buck for the devs that the rest of us could ride along for. When they took the snapshot and then never released the DAC that should have finally clarified for you that there was no substance behind the hype. But then in that 3 day window when the difficulty was normalized, there people like you were again, still buying. So I get it, I get that you bought into the hype and bought these coins, and I appreciate that. But the time to get out was months ago, back when you still had a chance of convincing people that these DACs were real. Not now, after every deadline has been missed and no one believes it anymore. It amuses me when I see you and the other pumpers trying to build up this coin so you can dump it off on some other unsuspecting new person. Of course you all deny that's what you're doing but come on. Really? If you seriously believed all the hype about this coin that you spew, you wouldn't be altruistically sharing that information with us and thus diluting your own profits, you would just buy the coins quietly and keep your mouth shut. You wouldn't be advertising, you would be hoping no one else notices! Anyways, you want to make money in this game? Ditch the shitcoins and buy BTC. It's a currency, not a fucking social movement or the answer to all of life's questions even the ones you didn't ask yet, so it doesn't have all the cute gimmicks. It doesn't have some fake anonymity, or puny interest rate, or DACs, or shitty video games built into the browser, or whatever gimmicky shit people are putting in alt coins these days to cover up the fact that the currency can't actually be used as a currency. BTC is boring, all you can do with it is buy shit. I'm not talking about pts. im talking about bitshares x, the current iteration of which lays the foundation for all other bitshares dacs. please see the links i provided in my previous post. the bitshares blockchains have the features I just outlined above which makes them far better than any system to date including bitcoin. there is no mining. block times are 15 seconds. and confirmation is one block. initial transaction per second will be 10. the alpha testing has demonstrated that the blockchain can handle 100tps. I don't have any pts at the moment, but I'm currently buying them. there will be 4 major snapshots that take place in the following weeks. Pts will go up just like it did for the original bitshare x snapshot. if you are a speculator you know this to be true. and if you are a long time investor who has seen the development team demonstrate a system that is far better than any to date you will also understand this to be true. You mean the bitshares X that was supposed to be released back in February? The one where, everyone like you bought up PTS from people like me to get it before the snap shot but then never got anything for it? That bitshares X? Getting burned once wasn't enough, you need to come back for more? Anyways, as that guy said, there is little reason to argue about this. PTS is currently trading at 0.0069BTC on Cryptsy, we can all just come back in a month or two and see what new low it has achieved. I'm not arguing with you, I'm providing you with information that you clearly do not have. Please just see the provided links and check out the alpha test so you can determine for yourself whether or not pts is undervalued. |
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Fernandez
Legendary
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Activity: 1008
Merit: 1000
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July 05, 2014, 07:27:45 AM |
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You mean the bitshares X that was supposed to be released back in February? The one where, everyone like you bought up PTS from people like me to get it before the snap shot but then never got anything for it? That bitshares X? Getting burned once wasn't enough, you need to come back for more?
Anyways, as that guy said, there is little reason to argue about this. PTS is currently trading at 0.0069BTC on Cryptsy, we can all just come back in a month or two and see what new low it has achieved.
At least you managed to get in their private party. I am quite regular on this forum and completely missed it. |
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FandangledGizmo (OP)
Legendary
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Activity: 1138
Merit: 1001
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July 05, 2014, 02:47:42 PM |
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It's a good question. I'm not technical, so I'd rather wait for someone like Clout to describe it better. Also feel free to go ask questions in the thread. Personally I'd like be interested in seeing more of the ways it could be compromised or attacked. https://bitsharestalk.org/index.php?topic=4009.0As it stands at the moment, my understanding is - They call Bitcoin decentralised, and we pay at least $100 per $1000 of every Bitcoin we own to miners via inflation per year, for the security and advantages decentralisation is supposed to provide. Yet in Bitcoin you only have to get to two people to attack and significantly damage Bitcoin, (Pool owners of Ghash.io & Discus fish atm.) - I still keep 1/2 my crypto-equity in BTC, but it does seem like one of the most vulnerable systems possible. BitShares has 101 delegates voted for by users in paid roles, they are assigned blocks randomly and they only have the power to process and include/exclude transactions, the system automatically detects bad behaviour and fires them and they can also be easily voted off by users. So in BitShares you'd need to get to at least 52 elected delgates located all around the world (In different jurisdictions) on normal computers. This would be very hard for a Gov/Nefarious entity to do. This could be done by buying up 52% of the stake but this would make shareholders extremely wealthy. (It's hard to buy even a small stake, like 30K Bitcoins, 0.2% without moving the market.) This attack would also be pretty transparent, unlike acquiring ASICS which doesn't make Bitcoin holders richer and can be done discreetly. Also Bitcoin & all the stuff that will come on top of it is running on 1 Base blockchain. In BitShares there will be bespoke blockchains tweaked for different companies needs as well as variants of them. So as I understand it, it's a system that is much harder to attack/compromise than any existing system. At attack should be very transparent, even if you did gain control your options would be limited and you would only have 1 Blockchain out of hundreds that would just be forked. The advantages of the above system is that are transactions can be processed multiple times faster, for a fraction of the cost and at volumes that rival the biggest clearing houses in the world. Given the huge cost savings, privacy benefits, our banks based on blockchains should be able to overtake the exisiting status quo, and there's nothing they can do about it, besides make shareholders very wealthy. Again some of that may be incorrect. Just as non-technical investor that was my view, there is an intro to DPOS on their website. http://bitshares.org/intro-to-delegated-proof-of-stake/ |
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devphp
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July 05, 2014, 02:49:42 PM |
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It's a good question. I'm not technical, so I'd rather wait for someone like Clout to describe it better. Also feel free to go ask questions in the thread. Personally I'd like be interested in seeing more of the ways it could be compromised or attacked. https://bitsharestalk.org/index.php?topic=4009.0As it stands at the moment, my understanding is - They call Bitcoin decentralised, and we pay at least $100 per $1000 of every Bitcoin we own to miners via inflation per year, for the security and advantages decentralisation is supposed to provide. Yet in Bitcoin you only have to get to two people to attack and significantly damage Bitcoin, (Pool owners of Ghash.io & Discus fish atm.) - I still keep 1/2 my crypto-equity in BTC, but it does seem like one of the most vulnerable systems possible. BitShares has 101 delegates voted for by users in paid roles, they are assigned blocks randomly and they only have the power to process and include/exclude transactions, the system automatically detects bad behaviour and fires them and they can also be easily voted off by users. So in BitShares you'd need to get to at least 51 elected delgates located all around the world on normal computers. This could be done by buying up 51% of the stake. This would make shareholders extremely wealthy. (It's hard to buy even a small stake, like 30K Bitcoins, 0.2% without moving the market.) This attack would also be pretty transparent, unlike acquiring ASICS which doesn't make Bitcoin holders richer and can be done discreetly. Also Bitcoin & all the stuff that will come on top of it is running on 1 Base blockchain. In BitShares there will be bespoke blockchains tweaked for different companies needs as well as variants of them. So as I understand it, it's a system that is much harder to attack/compromise than any existing system. At attack should be very transparent, even if you did gain control your options would be limited and you would only have 1 Blockchain out of hundreds that would just be forked. The advantages of the above system is that are transactions can be processed multiple times faster, for a fraction of the cost and at volumes that rival the biggest clearing houses in the world. Given the huge cost savings, privacy benefits, our banks based on blockchains should be able to overtake the exisiting status quo, and there's nothing they can do about it, besides make shareholders very wealthy. Again some of that may be incorrect. Just as non-technical investor that was my view, there is an intro to DPOS on their website. http://bitshares.org/intro-to-delegated-proof-of-stake/Bitcoin can no longer be considered decentralized, that has been proven, thus there is no need to compare with Bitcoin  |
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FandangledGizmo (OP)
Legendary
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Activity: 1138
Merit: 1001
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July 05, 2014, 02:51:46 PM |
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It's a good question. I'm not technical, so I'd rather wait for someone like Clout to describe it better. Also feel free to go ask questions in the thread. Personally I'd like be interested in seeing more of the ways it could be compromised or attacked. https://bitsharestalk.org/index.php?topic=4009.0As it stands at the moment, my understanding is - They call Bitcoin decentralised, and we pay at least $100 per $1000 of every Bitcoin we own to miners via inflation per year, for the security and advantages decentralisation is supposed to provide. Yet in Bitcoin you only have to get to two people to attack and significantly damage Bitcoin, (Pool owners of Ghash.io & Discus fish atm.) - I still keep 1/2 my crypto-equity in BTC, but it does seem like one of the most vulnerable systems possible. BitShares has 101 delegates voted for by users in paid roles, they are assigned blocks randomly and they only have the power to process and include/exclude transactions, the system automatically detects bad behaviour and fires them and they can also be easily voted off by users. So in BitShares you'd need to get to at least 51 elected delgates located all around the world on normal computers. This could be done by buying up 51% of the stake. This would make shareholders extremely wealthy. (It's hard to buy even a small stake, like 30K Bitcoins, 0.2% without moving the market.) This attack would also be pretty transparent, unlike acquiring ASICS which doesn't make Bitcoin holders richer and can be done discreetly. Also Bitcoin & all the stuff that will come on top of it is running on 1 Base blockchain. In BitShares there will be bespoke blockchains tweaked for different companies needs as well as variants of them. So as I understand it, it's a system that is much harder to attack/compromise than any existing system. At attack should be very transparent, even if you did gain control your options would be limited and you would only have 1 Blockchain out of hundreds that would just be forked. The advantages of the above system is that are transactions can be processed multiple times faster, for a fraction of the cost and at volumes that rival the biggest clearing houses in the world. Given the huge cost savings, privacy benefits, our banks based on blockchains should be able to overtake the exisiting status quo, and there's nothing they can do about it, besides make shareholders very wealthy. Again some of that may be incorrect. Just as non-technical investor that was my view, there is an intro to DPOS on their website. http://bitshares.org/intro-to-delegated-proof-of-stake/Bitcoin can no longer be considered decentralized, that has been proven, thus there is no need to compare with Bitcoin Cool, What would you say, in your opinion, is the best system in terms of decentralisation and performance out there at the moment? Personally I like NXT (It's my third biggest holding) but I haven't been following it lately and I know they had a very bad initial distribution which is always a concern for some. |
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devphp
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July 05, 2014, 02:55:26 PM |
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Cool, What would you say, in your opinion, is the best system in terms of decentralisation and performance out there at the moment?
My opinion would be called biased if I said it's NXT. I see BitShares has achieved a pretty good decentralization level compared to Bitcoin. Will it be good enough in the future? Only time can tell. Certainly, 101 delegated nodes are far more difficult to compromise than just 2 biggest Bitcoin pools. It's not 100% decentralization, but I guess many people will find it decent enough to use. |
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From Above
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July 05, 2014, 02:56:03 PM |
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BITSHAREZ TO THE STARS
~CfA~
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FandangledGizmo (OP)
Legendary
Offline
Activity: 1138
Merit: 1001
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July 05, 2014, 03:10:45 PM |
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Cool, What would you say, in your opinion, is the best system in terms of decentralisation and performance out there at the moment?
My opinion would be called biased if I said it's NXT. I see BitShares has achieved a pretty good decentralization level compared to Bitcoin. Will it be good enough in the future? Only time can tell. Certainly, 101 delegated nodes are far more difficult to compromise than just 2 biggest Bitcoin pools. It's not 100% decentralization, but I guess many people will find it decent enough to use. Yeah I would agree with that. I'm one of the people who think decentralisation is a means not an end. https://bitsharestalk.org/index.php?topic=3923.0Any increased decentralisation starts to add significant cost and time delay to the network. For me it's about .Gov or the banks/corporations trying to interfere with my liberty. 'If' DPOS achieves security against that & attack/compromise, (Other than making me wealthy with a buyout) then I'm OK with that. It means BitShares will have the most competitive blockchains, and I know most end customers generally want the best products at the best price. So we should be able to outperform both centralised systems and ones that are more decentralised. Though I think there will still be a market for people who like more decentralised systems on principle. |
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FandangledGizmo (OP)
Legendary
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Merit: 1001
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July 05, 2014, 04:58:55 PM |
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dudes, BitShares was debunked as bullshit earlier, why keep postig the shite?
~CfA~
& now - BITSHAREZ TO THE STARS
~CfA~
Unless you're being sarcastic, is it fair to say you've looked into what they're doing lately and you've changed your mind? Would be great if that's the case! |
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statdude
Legendary
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July 05, 2014, 06:53:04 PM |
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I am mostly a fan of BTS/PTS/AGS - but with how much has been invested (10,000+ BTC) already, situation / upside seems limited as in the case of XCP and MaidSafe.
Hard to multiply 10 million dollars overnight.
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FandangledGizmo (OP)
Legendary
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Activity: 1138
Merit: 1001
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July 05, 2014, 08:47:30 PM |
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I am mostly a fan of BTS/PTS/AGS - but with how much has been invested (10,000+ BTC) already, situation / upside seems limited as in the case of XCP and MaidSafe.
Hard to multiply 10 million dollars overnight.
It's a fair point. From a pure trading perspective, the stability of PTS and low volatility/downside potential also has to be taken into the equation. For the last 80 days it's been trading in the $3.4-$4.5 range. For the last 30 days $4.1-$4.6. So even the potential to double/triple from a very stable base is appealing to me. Other: BitShares X (Which buying PTS now won't get you a stake in) is being released real soon. The average of the 79 votes sees a starting market CAP of $65 000 000. (Which will put in no.3 on coinmarketcap) https://bitsharestalk.org/index.php?topic=5404.0If the CAP is anywhere near that it will create a lot of interest in the potential of their future DAC's especially as they see their new DPOS blockchain in action too. It all points to a big shift up imo. |
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clout
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July 05, 2014, 08:59:36 PM |
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You mean the bitshares X that was supposed to be released back in February? The one where, everyone like you bought up PTS from people like me to get it before the snap shot but then never got anything for it? That bitshares X? Getting burned once wasn't enough, you need to come back for more?
Anyways, as that guy said, there is little reason to argue about this. PTS is currently trading at 0.0069BTC on Cryptsy, we can all just come back in a month or two and see what new low it has achieved.
At least you managed to get in their private party. I am quite regular on this forum and completely missed it. Thats because the forum has been flooded with junk. BitShares was announced a year ago. you can still donate funds to the ecosystem through BitShares AGS . BitShares has the longest and most open funding model of any of the next generation projects. I suggest you acquire AGS while they are still cheap and available. The AGS crowdfunding ends in less than two weeks. |
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clout
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July 05, 2014, 10:09:12 PM |
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Cool, What would you say, in your opinion, is the best system in terms of decentralisation and performance out there at the moment?
My opinion would be called biased if I said it's NXT. I see BitShares has achieved a pretty good decentralization level compared to Bitcoin. Will it be good enough in the future? Only time can tell. Certainly, 101 delegated nodes are far more difficult to compromise than just 2 biggest Bitcoin pools. It's not 100% decentralization, but I guess many people will find it decent enough to use. please see the following comparison of the bitshares blockchain vs other platforms. it will serve to better elucidate why pts & ags are good investments. http://wiki.bitshares.org/index.php/Why_choose_Bitshares%3F#Comparison_of_BitShares_and_Other_Platforms |
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FandangledGizmo (OP)
Legendary
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July 06, 2014, 02:50:52 AM |
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Top 10 reasons to be excited about BitShares right now http://bitshares.org/wp-content/uploads/2014/07/News-Letter-08-July-2014.pdfReason 10: BitShares Toolkit 1.0Reason 9: DPOSReason 8: TITAN (Transfer invisibility to a name) Reason 7: AGSReason 6: Next PTS SnapshotsReason 5: Delegate Election CampaignsReason 4: Developers are co-located Reason 3: Six Third Party Developers now honor PTS and AGSReason 2: Snapshots and ProtoDAC releases will happen every few weeks beginning… nowReason 1: BitShares X! A lot more detail in the newsletter. Check it out! * I should mention as this thread is about PTS that BitShares X was already allocated on 28/02/2014.
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devphp
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July 06, 2014, 06:13:51 AM
Last edit: July 06, 2014, 07:20:22 AM by devphp |
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Yes, I've seen it. This comparison makes many early assumption and should be taken with a grain of salt. First of all, the 15 seconds block time confirms it's a centralized system, as truely decentralized systems can't have that small of a block time and achieve decent reliability with that. The whitepaper says there will be 101 delegated nodes, which in theory should make it less centralized. But in practise it'll work out to 20 people managing all 101 nodes, which makes it more centralized than it should be by design, because running a ddos-protected fault-tolerant node would require quite a bit of skills. 20 people is a rough number, could be 30, you get the idea, but I don't believe it can be 101 different persons each running 1 node, not in the first year at least. By the time when there are 101 different persons each running 1 BitShares node only (if that is achievable at all, since some may not stop running more nodes than they should), NXT will have TF which will remove the requirement for 720 blocks blockchain reorganization + other features will be added like Dividends (planned for 1.3.xx), etc., hence that comparison table will change. NXT has been battle tested for 8 months now as a truely decentralized system. BitShares is only running on testnet without everybody and their mother attacking it on live net and has been planned as a centralized distributed system. Distributed != decentralized. Ripple can also achieve a few seconds block time, because it is also a centralized distributed system, but it has issues with distribution of shares. Bitshares improved on distribution of shares, but left the centralization issue a concern. Please don't get me wrong, I am not saying that people won't use BitShares. But the goals of BitShares and NXT are different, hence it's really hard to compare them. After all, many people use banks, and they are as centralized as can be. BitShares stands somewhere between banks and NXT in that aspect |
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