BitShares X Now Trading!!!

[FandangledGizmo]

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 !!!

This is a BitShares Breaking Event Alert.

DAC Sun Limited (DSL), an independent Hong Kong based DAC developer you can find at DACSunlimited.com, is in the process of releasing the first official BitShares X (BTSX) chain.

Their official chain is now up and running and being tested by experienced volunteers from the forum.  This is expected to be the real chain running from the official genesis block and any trading will be real and permanent. Because this is a brand new chain, everyone should use caution until it is clear that everything is working properly.  

This is a pre-launch to enable final testing by experienced users before calling its attention to the general public. It may take DSL a few more days to get all the instructions published, web pages polished, and make sure that everything is fully functional before making their official high-profile public launch.  

Note that the BitShares Toolkit core developers will continue to add new features to the toolkit and work with the community evaluate them in parallel on our test network in an ongoing series of forum-based Dry Runs of a future release.  However the BitShares X release from DACSunlimited.com is not a test.  Its the real thing featuring many of the final features except for BitUSD and its related functionality.   These will appear in an upgrade expected later this summer.

DAC Sun Limited is working with several exchanges that we expect to begin trading BTSX soon.  But if you want to get an early look at the real chain running from the official genesis block, and experiment with some peer to peer trading you can download the exciting new BTSX wallet here:

https://github.com/dacsunlimited/bitsharesx/releases/tag/0.2.0

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
and btc38 http://www.btc38.com/trade_en.html?mk_type=btc&btc38_trade_coin_name=btsx

[1715556114]

1715556114

[1715556114]

1715556114

[digitalindustry]

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.

[FandangledGizmo]

[FandangledGizmo]

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

[FandangledGizmo]

BitShares X is the BitShares Bank & Exchange DAC

BitShares X is a revolutionary new bank and exchange that could rival the value of the largest banks in the world such as JP Morgan and Bank of America in just a few years. How could this new upstart grow so quickly?  BitShares X offers a bank account that earns 5% interest where funds can be transferred in minutes anywhere in the world with more privacy and security than a Swiss bank account.  Your account can never be frozen, your funds cannot be seized, and the bank can never face collapse due to loan defaults or fraud.  All of this is made possible without requiring any employees, lawyers, regulatory compliance, vaults, buildings, and other infrastructure required by traditional banks.  Unlike existing banks, you can hold your balance denominated in gold, silver, oil, or other commodities in additional to national currencies while earning 5% interest.  

In addition to acting as a bank, BitShares X also serves as an exchange where currencies, commodities, and stock derivatives can be traded with most of the features used by professional traders including shorts and options.   The Bank takes a cut on every transaction and pays 100% of these transaction fees as dividends to the shareholders.  BitShares X can achieve this feat using the same technology that makes Bitcoin possible, irrevocable decentralized automated consensus forming.    

They will be very shortly releasing version 1.0 of BitShares X

The Experimental Test Network for BitShares X will be launched as soon as we have a minimal viable product.  In the goal of launching a minimal viable product we have stripped features that would delay release and which complicate the system.  As such BitShares X version 1.0  has removed certain features:  Ripple Consensus, Interest on BitAssets, Escrow Transaction, Etc.  

[schnötzel]

Thanks. 

[FandangledGizmo]

                                                                               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/





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

[FandangledGizmo]

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
and btc38 http://www.btc38.com/trade_en.html?mk_type=btc&btc38_trade_coin_name=btsx

[brekyrself]

It's arrived.

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

[Luckybit]

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

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

[FandangledGizmo]

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...

This is a BitShares Breaking Event Alert.

DAC Sun Limited (DSL), an independent Hong Kong based DAC developer you can find at DACSunlimited.com, is in the process of releasing the first official BitShares X (BTSX) chain.

Their official chain is now up and running and being tested by experienced volunteers from the forum.  This is expected to be the real chain running from the official genesis block and any trading will be real and permanent. Because this is a brand new chain, everyone should use caution until it is clear that everything is working properly.  

This is a pre-launch to enable final testing by experienced users before calling its attention to the general public. It may take DSL a few more days to get all the instructions published, web pages polished, and make sure that everything is fully functional before making their official high-profile public launch.  

Note that the BitShares Toolkit core developers will continue to add new features to the toolkit and work with the community evaluate them in parallel on our test network in an ongoing series of forum-based Dry Runs of a future release.  However the BitShares X release from DACSunlimited.com is not a test.  Its the real thing featuring many of the final features except for BitUSD and its related functionality.   These will appear in an upgrade expected later this summer.

DAC Sun Limited is working with several exchanges that we expect to begin trading BTSX soon.  But if you want to get an early look at the real chain running from the official genesis block, and experiment with some peer to peer trading you can download the exciting new BTSX wallet here:

https://github.com/dacsunlimited/bitsharesx/releases/tag/0.2.0

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

[FandangledGizmo]

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!

[brekyrself]

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

[coininaction]

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

http://www.bitshares-x.info

[bahamapascal]

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.

[HI-TEC99]

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

[brekyrself]

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.

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

[bahamapascal]

Thx, will look in to those links

[SpeedDemon13]

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

[FandangledGizmo]

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

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.

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

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.