From 08c5fc02b154cdd4b488578b069c7a4f47141a1b Mon Sep 17 00:00:00 2001 From: Fabian Schuh Date: Wed, 20 May 2015 14:24:26 +0200 Subject: [PATCH 1/2] more questions answered --- _posts/2015-06-08-TL-DR-community-aspects.md | 39 +++++++++++++++----- 1 file changed, 29 insertions(+), 10 deletions(-) diff --git a/_posts/2015-06-08-TL-DR-community-aspects.md b/_posts/2015-06-08-TL-DR-community-aspects.md index e1e6e326e2..5ecdf677b4 100644 --- a/_posts/2015-06-08-TL-DR-community-aspects.md +++ b/_posts/2015-06-08-TL-DR-community-aspects.md @@ -40,14 +40,16 @@ answered together with the announcement right away. Here we go: 7. Can we expect a fast, professional GUI experience within this year? - Absolutely! + Absolutely! With the move to react.js, websockets, and google material the user interface will be much more + responsive, stable and professional looking. 8. Will the new client be more resource efficient? In BitShares 2.0, communications with the core client are handled with the websockets protocol. Thus the core client could be either run on a separated machine, or by some else entirely on a trust-less basis. The BitShares network will be entirely accessible via web browser, either hosted locally or by a third party service provider similar to - blockchain.info (with private keys being stored locally only!). + blockchain.info (with private keys being stored locally only!). This also makes the access to the BitShares network + TOR compatible if required. 9. Have there been any ideas to increase voting participation (e.g. cold storage voting, simplified voting procedure) @@ -57,19 +59,34 @@ answered together with the announcement right away. Here we go: 10. What can be done to against whales dominating the voting process? - ????????????????????? + Practically, BitShares in general is a company and not a democracy. The more BTS stake you own, the more shares of + the company you own, and the more weights your vote has. This is similar to most traditional business and a + desireable feature. If an investors asks for more power in the voting process the only way to get them is to buy + shares or convince other people to hand over voting power. However, because the shares are well distributed among + thousands of network participants and early adopters such undertaking is very difficult. --- -12. What's the core product and how do shareholders profit from it? +11. What are the core products and how do shareholders profit from it? - ????????????????????? +* BitAssets +* Bonds +* Exchange +* ... -13. Will we see relative orders? +12. Will we see relative orders in the decentralized exchange? ????????????????????? -14. Assuming there will not be two different bitUSD, how will the switch from bitasset 1.0 to bitasset 2.0 look like? +13. Assuming there will not be two different bitUSD, how will the switch from bitasset 1.0 to bitasset 2.0 look like? + +14. Will I be able to use bitUSD as collateral to short a bitAssets? + + Yes. BitShares 2.0 goes even further and offers a far better alternative: Collateralized Bonds. Collateralized Bonds + enable arbitrary shorting between any two assets, guaranteed interest, and no risk of being force settled. This system + privatizes the yield to individual bonds and the terms and leverage available can be far more flexible. In effect, + BitUSD becomes cash and a Bond becomes a Certificate of Deposit. + 15. Will we be able to close short orders using the collateral? ????????????????????? @@ -78,7 +95,9 @@ answered together with the announcement right away. Here we go: 16. How can KYC and AML be acknowledge in BitShares such that it does not affect BTS holders? - ????????????????????? + KYC and AML as well as CTF regulations do comply for regular businesses run ontop of BitShares, such as gateways and + merchants. For the use of BitAssets (e.g. bitUSD, bitGOLD) and other 3rd party UIA), please consult your local + authorities. 17. Will there be any big exchanges/banks who issue their assets on the BitShares blockchain? @@ -86,12 +105,12 @@ answered together with the announcement right away. Here we go: --- -11. What has been done to attract more 3rd party developers? +18. What has been done to attract more 3rd party developers? - gitlab.bitshares.org? ????????????????????? -18. What measures have been taken to ensure that newly written code does not introduced many bugs or reveal hidden +20. What measures have been taken to ensure that newly written code does not introduced many bugs or reveal hidden design assumptions that are no longer valid? ????????????????????? From 85e0d91991e91621186cf83e2e498130a7caa10b Mon Sep 17 00:00:00 2001 From: Fabian Schuh Date: Wed, 20 May 2015 18:07:42 +0200 Subject: [PATCH 2/2] final answers and cleanups --- _posts/2015-06-08-TL-DR-community-aspects.md | 51 ++++++++------------ 1 file changed, 21 insertions(+), 30 deletions(-) diff --git a/_posts/2015-06-08-TL-DR-community-aspects.md b/_posts/2015-06-08-TL-DR-community-aspects.md index 5ecdf677b4..5993e9274a 100644 --- a/_posts/2015-06-08-TL-DR-community-aspects.md +++ b/_posts/2015-06-08-TL-DR-community-aspects.md @@ -17,11 +17,12 @@ answered together with the announcement right away. Here we go: 3. Will there be a referral system available at launch? - Yes. Absolutely. And you can earn up to $80\* per user (per lifetime) referred. + Yes. Absolutely. And you can earn up to $80 per user (per lifetime) referred. 4. Are Turing complete scripts/applications on the roadmap? - ?????????????????????? + We are considering turing complete models which are economically viable. There are several ideas about this around + the office, and we definitely plan to try some of them out eventually. 5. Will the separated Worker/Delegate/Signer proposal be implemented in time? @@ -67,50 +68,40 @@ answered together with the announcement right away. Here we go: --- -11. What are the core products and how do shareholders profit from it? +11. Will we see relative orders in the decentralized exchange? -* BitAssets -* Bonds -* Exchange -* ... + There is no plan to add relative orders, as part of the effort to reduce dependence on the price feed long-term. -12. Will we see relative orders in the decentralized exchange? +12. Assuming there will not be two different bitUSD, how will the switch from bitasset 1.0 to bitasset 2.0 look like? - ????????????????????? - -13. Assuming there will not be two different bitUSD, how will the switch from bitasset 1.0 to bitasset 2.0 look like? - -14. Will I be able to use bitUSD as collateral to short a bitAssets? +13. Will I be able to use bitUSD as collateral to short a bitAssets? Yes. BitShares 2.0 goes even further and offers a far better alternative: Collateralized Bonds. Collateralized Bonds enable arbitrary shorting between any two assets, guaranteed interest, and no risk of being force settled. This system privatizes the yield to individual bonds and the terms and leverage available can be far more flexible. In effect, BitUSD becomes cash and a Bond becomes a Certificate of Deposit. -15. Will we be able to close short orders using the collateral? - - ????????????????????? - ---- - -16. How can KYC and AML be acknowledge in BitShares such that it does not affect BTS holders? +14. Will we be able to close short orders using the collateral? - KYC and AML as well as CTF regulations do comply for regular businesses run ontop of BitShares, such as gateways and - merchants. For the use of BitAssets (e.g. bitUSD, bitGOLD) and other 3rd party UIA), please consult your local - authorities. + Users will be able to adjust their margin call price to trigger an early margin call, which will close out your + short position. -17. Will there be any big exchanges/banks who issue their assets on the BitShares blockchain? +15. How can KYC and AML be acknowledge in BitShares such that it does not affect BTS holders? - ????????????????????? + KYC/AML are supported for user-issued assets, but not BTS, thus it does not affect BTS holders, but only users who + wish to hold a restricted token. Hence, regular businesses that run ontop of BitShares, such as gateways and + merchants, will require to comply with their local KYC, AML and CTF regulations. --- -18. What has been done to attract more 3rd party developers? +16. What has been done to attract more 3rd party developers? - - gitlab.bitshares.org? - ????????????????????? + The API has been improved significantly to allow fast and reliable integration via websockets and push + notifications! Furthermore, alot of effort has been taken for proper documentation. -20. What measures have been taken to ensure that newly written code does not introduced many bugs or reveal hidden +17. What measures have been taken to ensure that newly written code does not introduced many bugs or reveal hidden design assumptions that are no longer valid? - ????????????????????? + While it's impossible to guarantee any code is bug-free, we have been writing unit tests, integration tests, and + regression tests with every new feature implemented. Our tests currently exercise around 90% of the code, and we're + going to be increasing that number before launch.