BitShares Hangout #32 - 2017-08-04 - OpenSource Agenda [WhaleShare/Beyondbit Payouts Powered by SP!]
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Hangout Format:
This will go up at least 4 days before the BitShares Hangout. BitShares community members who post subjects to cover and bring topics of discussion are asked to do so in response to this post first. Worker Proposals are a Chief Focus in these hangouts, but other topics and projects are welcome to join. @officialfuzzy can finally pay people who have supported this powerful cryptocurrency for the past 4 years since its birth and evolution. So reply below with valuable topics, updates, info we should cover and earn upvotes from in this thread and earn a special bonus if yours are chosen!
How Much Time Per Topic?
Hangouts will be at least 45 minutes long, but depending on attendance and projects/topics to be covered may last up to 60 minutes. Given this, we will try to stay with 5-6 core topics and will fit in others where possible.
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Those who attend will each earn from a pool of bitshares that will be purchased with earnings from this post. They will then be given directly to you via our new guestbook that we are testing.
Fuzzy will be giving [whaleshares] to community founders who attend this weekly hangout to give their own unique perspectives and expert commentary. He will also be giving them to people who give topics and information we choose to use in our hangout!
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Is any topic off Limits?
Yes. We reserve the right to learn from the newest trickster trolling steemit consistently searching for way to insert chaos into the equation and devise future strategies for negating these. Naturally if these efforts become ham-fisted attempts at shutting down free speech in honest conversations, the audience will hold us accountable.
But with that said....pretty much anything can be covered--even up to and including current events. However, I personally will only be voting up stories that touch the blockchain in some way shape or form and will be asking the community to downvote absolute Rubbish! ;)
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Extract from the Bitshares State of the Network Report
Long running exchange BTC-e has been shutdown by the US authorities and servers including wallet files holding customer funds have been seized. BTC-e has tweeted out that they intend to make customers whole in the coming weeks but the situation is still unfolding and their ability to refund their customers is still in question.
@stan Larimer has done a podcast with Richard Jacob from Future Tech Podcast. The podcast cover Bitshares, Steemit, EOS, Cryptonomex, The Billion Hero Campaign, Bitcoin United and more..
Bitshares core developer Alfredo (@oxarbitrage) has released a road map relating to his active employment from the Bitshares blockchain (via shareholder approved worker proposal). He has proposed to spend the next 4 weeks working 50/50 on a new block explorer and core development task that he has on his 'todo' list.
BitGold has been affected by a global settlement event which has prevented the smartcoin from being borrowed into existence. Current supply is still trading at normal but no new BitGold smartcoins can be created at this time. Never fear @cyrano is working on a BSIP-0018 at the moment that will allow assets in this situation to be revived.
@michaelx this week in telegram has mentioned the creation of a new Bitshares Wallet and UI (possibly multiple wallets). There is no official announcement as yet but work has already started.
I thought that reading out a minimized version of the 'Bitshares state of the network' report was a great idea during the 29th hangout, I think this should be one of the first things done each hangout so as to grab listeners attention (and before people forget about the whole RSVP system.. :P).
Fast Bitcoin on BitShares
I would like to discuss the pros and cons of incorporating Fast Bitcoin as a UIA onto the BitShares platform in view of the first fork that has already occurred.
Motivation
"Consider the concept that a decentralized public currency should be platform independent and controlled by its owners, not its current hardware or software suppliers."
Doc Brown's Big Heroic Audacious Goals for Bitcoin by @stan
Benefits to Users
""The old Bitcoin Classic bridge is replaced by three: two patched footbridges and a superhighway.
Bitcoin Unchained - The Platform Independence Movement by @stan
Benefits to BitShares
Overhead for witnesses
@officialfuzzy can you save some time for me on the upcoming hangout to discuss our BitsharesUI worker proposal?
Apptrade is seeking to update the Bitshares documentation and seeking Graphene developers who have experience with Node.JS as well as full-stack developers who have experience with React.
Update Bitshares Documentation by providing a fund for a worker proposal thru a one-to-one match. Therefore, the worker proposal will cover half of the cost. Our main questions are the following:
Finder’s fee for helping @VirtualGrowth find graphene developers who may be contacted though Discord or Steemit.chat. If you are interested to be a dedicated graphene developer, again contact @VirtualGrowth.
Steemit and/or Mumble account name of Representative/Speaker: @VirtualGrowth, Apptrade
How should we Introduce you/your project/your news coverage?
Bitshares Documentation needs to be updated and Apptrade is willing to match that worker proposal with a one-to-one match. Also talkng about helping AppTrade potentially find developer(s).
What is your bitshares account name?
virtual-growthThank you. Best,
Virtual Growth
Apptrade Advisor
Brief mention on bitshares hangout and ore on beyond bitcoin.
This is for people who want to connect to the bitshares hangouts using Mumble for IOS.
https://steemit.com/beyondbitcoin/@surpassinggoogle/this-is-how-to-join-beyondbitcoin-hangout-weekly-using-mumble-or-mumblefy-for-ios-devices-certificate-error-fix-inside
So, any ideas on the agenda for 08-04? May be some global topics worth paying attention to? Something like HERO perspectives in a long term - how will all these HERO be spent? Would it somehow affect the Bitshares ecosystem? Can the whole platform somehow be treated as a kind of global committee in charge of the planetary projects, or we all just sitting and waiting for Danny with his guys around EOS affair?
Same way that bitUSD would be spent.
It'll be beneficial, the more HERO there are in existence the more BTS locked up as collateral (less liquid BTS on exchanges).
Nobody is in charge of entire planets.. not even earth. EOS is years away from being a competitor. I'm not sure what you're really asking here..
Look. Stan's (&co, don't know exactly who's after this whole project) idea is to get as much $$ as possible and spread BTS as wide as possible by means of "printing" HERO's. This leads my mind to a question - why? And what should happen just in case if he'll succeeded with this affair. What if people just get into the game without stopping and all these old bucks turn into HERO's. Just imagine that.
1st problem I see here is value of BTS in context with "low" UDS (if USD's purchasing power will decrease as a result of such a vast harvesting).
2nd problem is - I can not see any long term agenda for possible funds raised. More reach people? Or "fiat-reach" people becoming a "crypto-reach" people? What next?
Suppose the game could be more interesting (and thus gain wider adoption) if we could see the Big Idea behind it.
Sorry if it is off-topic here.
Then people may store their funds as HERO instead of USD considering barely any banks offer 5% APR with zero risk.. we all know that the FIAT markets are going to eventually collapse..
Good, the world doesn't need dominated by the USD.
If HERO impacts the USD externally to the BTS DEX, then we'll be talking about billions of USD held as HERO on the BTS DEX which could only be beneficial for the marketcap of BTS (IMO).
There are no 'funds raised' by HERO other than market fees which are sent to the referral system, dividends (possibly) and the reserve pool (which funds development and witnesses).
If we can convince a small percentage of USD holders to switch to holding HERO then that'll be huge for BTS.
The idea is to provide better alternatives to established FIAT currencies. Why would you hold USD when it appreciates? Why would you accept the risk that banks impose for a lesser interest rate than HERO provides (With zero risk, appreciation not interest).
The big idea is that USD is a failing currency and that the BTS DEX is capable of creating far superior alternatives.
Just remove USD from the picture - what would be the price for HERO than? What would show all those price feeds from our lovely witnesses when (and if) USD will gone? That is my primary question.
HERO is backed by BTS via collateral, but it's price depends on USD. The more BTS you need to back your HERO, the less HERO you can afford for a dollar (despite of the external exchange rate for BTS, which will obviously became huge in such circumstances), and USD will just gone. Can the feed be zeroed, and where will be those 5% per year than?
HERO references USD so it's somewhat still required for price reference.
We could certainly switch from USD as the reference asset to another reference asset, in the case that USD is no longer a functioning FIAT cryptocurrency the world will be completely different and the price of BTS may be astronomical.
If USD fails as a fiat currency, we could potentially switch to an alternative reference asset after resolving the global settlement via the BSIP-018 recovery mechanisms.
The scenario where USD has failed as a FIAT currency has failed is unlikely to occur, if it does occur then people will possibly flee to crypto away from fiat.
And yes, thanks for the note on "no 'funds raised'" - i understand my mistake now. Obviously all this project is not about an accumulation, but about moving from USD to more transparent media. But my question on zero feed for USD vs 5% is still the case.
If USD hits zero (dies as a fiat currency) then we'll switch reference asset after resolving the global settlement (such as the replacement USD currency).
Thanks for sharing the updates @officialfuzzy ....
nice post , not too much words!
Great Post !! i like it... No More Words to comments!!!