Bitshares - State of the Network - 29th August 2017

cm-steem (67) 7 years ago (edited)

@cm-steem has drafted 2 new BSIPs

BSIP-0023 Titled: Sharedropping an UIA against an external cryptocurrency distribution snapshot

BSIP-0024 Titled: Locking Bitshares away as 'Bitshares Influence' for voting privileges on the BTS DEX

@cm-steem has written a number of the previously published BSIP's and these two as with the previous ones are well written proposals with a huge amount of detail on there subject matter.

Thanks for the shout out :)

Any requests for future BSIPs?

$12.92

11 votes

steempower (73) 7 years ago

No worries man, you do a really incredible job on these BSIPs. Greatly appreciate your hard work!

I love the idea you mentioned in telegram regarding Sidechain.... not an easy task by any stretch of the imagination.

Also maybe something in relation to using smartcoin in prediction markets allowing for stability of the bet; not sure how this could works as it would mean smartcoins as collateral. I think prediction markets are one of our most under utilized features. I think there is a great opportunity for an entrepreneur to really make a good business out of this (with or without smartcoin - just need to make it easy for people to understand and use).

$1.32

5 votes

cm-steem (67) 7 years ago

I love the idea you mentioned in telegram regarding Sidechain.... not an easy task by any stretch of the imagination.

I began working on the skeleton for the sidechain BSIP after completing the 24th (was on a roll, haha), it looks like an user on github has produced some very relevant material to work from. I'm unsure if this user has continued to work on this idea since posting the issue though.

Also maybe something in relation to using smartcoin in prediction markets allowing for stability of the bet; not sure how this could works as it would mean smartcoins as collateral.

You can bet with any asset, as long as someone else has borrowed it with BTS, however you should totally be able to use smartcoins as collateral for borrowing any asset, it'd be far safer than borrowing using BTS (since you'd need to account for BTS price fluctuation instead of USD).

I think prediction markets are one of our most under utilized features. I think there is a great opportunity for an entrepreneur to really make a good business out of this (with or without smartcoin - just need to make it easy for people to understand and use).

Perhaps because the functionality is so hidden away within the BTS client? You have to click 'Settings cog -> Explore -> Assets -> Prediction Market Assets -> Search for prediction market asset -> Navigate to prediction_market_asset:BTS (or alternative asset) trading page.

It could perhaps be one of the main tabs 'predictions' with all the latest prediction markets you can gamble against, with advanced sorting functionality. It looks like several prediction market assets are very old (trigger date has passed).

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eosfan (49) 7 years ago (edited)

that trustless bitcoin gateway discussion on gateway is very promising, looking forward to that BSIP someone is writing. important step to future sidechains.

What do you think about trustless gateway to steem chain as well to test bts compatibility and methods for future with EOS and make trading steem on the dex more secure.

What do you think about my proposal here that would work for any coins? https://bitsharestalk.org/index.php/topic,24890.0.html

Also, what do you think of user generated trusted gateways to add to the dex searchable by coin and sorted by reputation with transparency requirements and tools to build them easier - make it easier for coin developers or businesses to offer gateways for the coins of their choice.

What do you think about on chain communication platform or forum for announcements and conversations that doesn't require links to hard to find third party platforms for witnesses, proposals, and so on, possibly replacing old trollbox as one of the additions.

What do you think about developing graphene atomic swaps standards (or even "subatomic" lightning network state channels) compatible with btc-like chains that work to make it easier to trade smartcoins & BTS in trustless manner with other blockchains for on ramp. This could then be used as instructions for supernet/blocknet to connect with bts chain assets on their shapeshift-like bridge services they specialize in as on ramp to high frequency on-chain margin trading on the bts dex not possible anywhere else.

$1.20

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virtualgrowth (72) 7 years ago

Great work by @steempower & @cm-steem that I and others thoroughly enjoy reading and experiencing through our crypto lives and passions!

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marduk777 (-3)(1) 7 years ago

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richcg (58) 7 years ago

That's all good news!! Loving it!

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marduk777 (-3)(1) 7 years ago

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imransaleem (25) 7 years ago

nice post

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rusinho027 (39) 7 years ago

very interesting and complete the post, thanks for collaborating with information for all, I am super useful for those who are learning.

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canhazlulz (56) 7 years ago

Congrats @steempower on your 50th Bitshares State of the Network report!! Your dedication is as much appreciated as the fantastic reports themselves.

$10.41

steempower (73) 7 years ago

Thanks for the kind words Can! can't believe it is the 50th already; here is to another 50!

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risingfox (42) 7 years ago

I don't like the fees for setting offers. :/

$2.67

steempower (73) 7 years ago (edited)

Maybe i misunderstand but 'Fill order' are Free.

Create and cancel cost a fee (spam prevention) - but the fee is fixed price; i think it is very competitive compared to Bittrex/Poloniex ect, which do not charge to place or cancel an order but when you get filled you are paying 0.2% - i.e for every $100 worth of crypto traded you are paying 20 cents.

Limit order create 0.0121 BTS - $0.00164 USD
Limit order cancel 0.0012 BTS - $0.00016 USD

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oucan (45) 7 years ago

There is a month I was reading an article about why Bitshares is charging a Fill Order fee, is in order to prevent spam and also apis/bots (whales) that have a lot of ressources can pump or dump the prices according to their interests, sorry for my english i feel more comfortable in spanish or french.

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theguruasia (67) 7 years ago (edited)

@steempower,
Waited almost a week to read your weekly report. Today morning I could read @stan's "Planning the 2018 Global Reset" post and already talked the value of BitShares rather than most of Crypto coins at the market place!
I never doubt BTS and it's powerful block chain technology and it's Eco system. And I never doubt STEEM too.
Actually I need to thank you @steempower, @stan, and @onceuponatime for giving continuous support to the community to be millionaires and billionaires in next two years of time!
I can't even think the effort your putting on this report! Actually we are awaiting to read this report to get the full scale understand about the coin and upcoming events!

Really appropriate your effort and I wish people will understand the power of BitShares and the power of it's block chain technology and will be millionaires in 2020 :D

Thank you very much for this great report!

Cheers!

$1.18

american-pie (53) 7 years ago

Wow . Congrats @steempower on your 50th Bitshares State of the Network report ... I resteem it

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blockchainttmft (52) 7 years ago

Why is there such a huge increase in transactions over operations for the past few months? What is an operation in this scenario?

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3 votes

blockchainttmft (52) 7 years ago

"This week the founders of door.one have announced and upcoming project to launch a new exchange on the Bitshares network."

I thought Bitshares was already an exchange? Is it also a protocol platform which others can use to build their own exchanges?

$0.36

gokulnk (63) 7 years ago

Thanks for the update. I would like to start using Bitshares again. But with the difference between Ask and Bid prices like it is in these images I don't think we can consider Bitshares as an active replacement for CEXes. But without increasing the volumes I am not sure how we can address this issue.

Bithsares should should concentrate on getting more volumes by

Promote Bitshares to new people. May be give them some free Bitshares initially? That could be a motivation for people to check out the Dex.
Add more altcoins on the DEX. I am assuming it is easier to add a coin on Bitshares when compared to CEX.

Screen Shot 2017-08-31 at 1.39.47 AM.png

Screen Shot 2017-08-31 at 1.40.57 AM.png

Let us hope that volumes will pick up once people realise how the Centralised exchanges are ripping them off.

Looking forward to the day when Bitshares will go mainstream and I will be able to trade all the altcoins on Bitshares.

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eosfan (49) 7 years ago

you're welcome to profit from providing liquidity via bots like btsbots.com or write your own

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tonypeacock (57) 7 years ago

Love the Bitshares Superhighway image. Classic :)

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hms818 (61) 7 years ago

Thanks @steempower for sharing updates of an innovative DEX platform..I am glad to see that Steem & Bitshares are both moving up over each other in terms of market cap.

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