You are viewing a single comment's thread from:

RE: Gridcoin Community Hangout #007 (RSVP & Suggest topics)

in #gridcoin • 8 years ago

Gridcoin + Bitshares.
If I have understood it correctly, we have launched a Market Pegged Asset (MPA) on Bitshares and hopefully we will soon have an OpenLedger gateway for trading on Bitshares Decentralized Exchange (DEX). However, many of Gridcoin users aren't familiar with Bitshares and I am also still learning about it . CM looks like an BTS expert to me, but there might be others on our team who are also knowledgeable about it. Would you be so kind to say a few more words about Bitshares and Gridcoin+Bitshares integration during Hangout #007?

Also, I have bought some BTS myself (it looks undervalued to me at present prices but don't trust my judgment on it). I have also installed their Bitshares2-light wallet. As a BTS holder, is there any way I can support this GRC+BTS integration? Through voting proxies, workers, witnesses...? I am still unfamiliar with all technical aspects of BTS, so I apologize if I have phrased this post poorly.

8 years ago in #gridcoin by
$0.00
    3 votes
    Reply 3
    Sort:  
  • Trending
    • [-]
     8 years ago 

    https://steemit.com/bitshares/@rok-sivante/what-you-need-to-know-about-bitshares-a-newbie-s-map-to-navigating-the-platform-tech-and-community

    The above post should provide a significant amount of reading on BTS - the BTS 101 ebook is pretty good.

    At the moment, there is no proxies/workers to vote for, but you can certainly vote for witnesses that provide the Gridcoin MPA price feeds: https://bitsharestalk.org/index.php/topic,22733.0.html

    [-]
     8 years ago 

    Well, it took me good 15 minutes to find those witnesses :)
    So for anyone else who is also unfamiliar with BTS, they are delegate.ihashfury and wackou, as listed here: https://cryptofresh.com/a/GRIDCOIN

    [-]
     8 years ago 

    I believe we may have triggered a 'black swan' event with the GRIDCOIN MPA last thursday: https://cryptofresh.com/a/GRIDCOIN

    With our forced settlement time being 7 days, perhaps this is why the price feeds haven't changed?

    Black Swans - Extreme Market Conditions

    All guarantees of SmartCoins are subject to the caveat that a SmartCoin can never be worth more than the collateral backing the least-collateralized short position. In normal market conditions, the value of the collateral is always more than sufficient, but, from time to time, markets can rapidly revalue the collateral. If this revaluation happens faster than the short positions can be forced to cover, then all SmartCoins are liquidated at the exchange rate of the least collateralized short position. This is similar to an insolvent bank converting its deposits to equity.

    $0.00
      Reply

      Coin Marketplace

      STEEM 0.17
      TRX 0.15
      JST 0.028
      BTC 60025.27
      ETH 2417.33
      USDT 1.00
      SBD 2.42