Bitshares: At the crossroads
Not all is well on Bitshares land
As many of you are aware, drama erupted some weeks ago as allegations and accusations started flying in a flurry of accusations, promises and eventually, cliffhangers.
We have been waiting for developments (pun intended) on this matter ever since, and except for a few question dodged here and there, not much appears to have changed.
The big casualty ?
Private transactions in the #bitshares blockchain.
This is not a small issue.
The choice is ours - a dystopian future where our every transaction is publicly associated with our identity forever, where the government and a myriad of for-profit companies know everything we buy (and who we buy it from, and how often, and so on).. or a reality where we get to maintain our financial privacy while having the convenience and advantages of using blockchain technology - in other words, true digital »»»cash«««.
The #monero guys got this one right.
I am of the opinion that this enforced transparency on the #bitshares blockchain has cost us dozens, if not hundreds of thousands of users over the years - and that by continuing to delay its implementation, we will continue not onboarding many more.
In a competitive technological area such as this, failure to address such a basic point as the privacy of the users of the system ("bitshares: the telnet of blockchain") can and WILL eventually relegate the project to obscurity, as better solutions come along.
NOW is the time to expand our influence and become a safe haven for intelligent people looking to leverage blockchain technology to improve life & liberty. A FULLY PRIVACY-DEVOID SYSTEM IS A COMPLETE OPPOSITE OF THAT.
We must find a solution to move forward.
tldr
@chris4210, @kencode work whatever it is that you guys have to work out between yourselves, but don't forget what we're trying to accomplish with #bitshares, and do not for even one second doubt that creating a secure, private, confidential system where humans (dogs coming soon) can store value digitally is FUNDAMENTAL for this technology to do good in the world.
Graphene / #bitshares still has an edge. For now. With totalitarian-like full transparency, I'm reasonably sure we will never see widespread adoption of the network.
And that would be a damn shame.
Work it out guys! And keep us posted.
I've been with Bitshares since AGS/PTS. Fully private transactions should be implemented immediately. I agree that not implementing this feature has resulted in a substantial losses with regard to user base and adoption. I thoroughly understand the arguments on both sides, but ultimately Dan designed Bitshares as means to financial freedom. There is no freedom without privacy. 'Nuff said.
Hey! I also have been with bitshares since AGS/PTS, (though I never bought ags, and was disappointed when they broke from the whitepapers), but have been surprised by its lack of price movement. I thought always the two were correlated, I never sold but I did lose faith in the principle at that point, but I do think it is poised for some big movements!!!
I'm also surprised by the BTS market cap, really don't understand why it's not run into the billions yet. If you look at the top 10 there are a bunch that don't really do anything or they do thing that are not particularly useful to mainstream users. BTS has huge utility, the best blockchain tech in the world (Graphene), is super fast and a lot of people are actually using it to do a lot of things. I would expect BTS to be well north of a billion by now, it will come but it is frustrating watching these shitcoins get pumped while the solid platforms that could really benefit from the increased developer funding languish.
The market cap compared to others baffles me as well. Its far superior to most in terms of its tech.
Amen.
You have my $2 for promotion. Good luck.
Thats the attitude... i found this post cuz i wanted to see what sort of content were promoted
seems reasonable..we don't really want transparency so much as incorruptibility.
Can't agree more on all points and, as I already see down below, this deserve an AMEN, all limbs and fingers crossed too. All for one and one for all! Namaste :)
This is first and foremost an organizational problem for Bitshares. Despite the best governance model for a blockchain, it can't get stakeholders to cooperate efficiently. That's why I've been quite skeptical about Bitshares for a long time. It's not really that hard to see that the lack of efficient cooperation will cause bad times for business.
If Bitshares wants to get up from this, it needs to think how to improve the organization. When the organization is in good shape, new features will be developed fast without drama and hassle.
That is exactly what I can see and understand, like one who is not familiar enough from technical side of matter. I'd start to invest in bts, but after reading this kind of stuff I'm becoming a bit worried. Polite said.
Solution. Worker proposal. Bitshares has the money.
That would not solve very much of the problem, but would at least be a first step.
A really good read thank you for sharing.
I'd love your thoughts on my post regarding Privacy, Identity, and Human Flourishing. I agree privacy is important, but I also see value in identity, transparency, and building reputations. Without government, we'll need reliable ways to build trust so we can make informed, non-violent decisions.
The whole point of crytpo is to decentralize money and maintain privacy for the individual. The only way this can be maintained is through keeping our money with companies that respect that ideal.
go for privacy and freedom
Always :)