Topic: Ethereum & BitShares Partnership? - page 2. (Read 4373 times)

The equivalent IS real world trading. What NXT is doing is letting you buy and sell.
BTSX is letting people short an asset and just like in the real world you have to post collateral to do that.

 As I say others can explain it better.

Ok, still don't see why not just let the price float freely, why put collateral to it every week?

Is there an equivalent of what this is all about in real world trading (stocks, bonds, whatever)? What is this financial instrument called? Maybe that can make it more clear.

From your description it sounds like NXT will at some  point do a basic implementation of collateral.
It sounds like at best that system could give a base/minimum value & some security to some 'user issued' assets. It also seems from your description, it is just the issuer, not the market participants locking up NXT so the issuer can create a starting value for the asset. This is very different.

BTSX is covered around whatever the value the asset moves to because the market participants are providing the collateral at that level whenever a new trade occurs. So for example if BitGold doubles in price in a week then the collateral is there to back BitGold at that new price level.

Daniel Larimer and co are on another level with this. I would suggest heading over to their forums as I'm no expert other than to be able to see the huge game changer this is, if they work.

Thank you, this is an important part.

So BitAssets are covered by BTSX as collateral. If I understand it correctly, NXT plans to do something like that within its Monetary System feature, where tokens are supposed to be issued covered by NXTs as collateral. NXTs would be 'locked' and a certain amount of tokens issued. Those 'locked' NXTs would set a minimum price in NXTs the issued tokens can be remeeded for. Of course, tokens can be traded above that price. That would be the best equivalent of Bitshares market pegged BitAssets. Provided I got your explanation right.

If you have any good suggestion and idea, please feel free to contribute.

The peg is still market determined. The difference is while anyone on NXT can create an Asset called NXTUSD.
For that to track the value of an actual dollar, it would either have to be backed by the issuer which is centralisation and nothing special at all kind of like Realcoin. Otherwise there's absolutely no reason anyone would value it at close to a dollar.

However BitAssets are covered by BTSX as collateral, so participants can agree to trade around the value of anything, Bitstocks, BitCurrency, BitCommodities etc. knowing the position is covered.

This video is a bit dated (They call it BitShares in the video when it's actually BitShares X now.)
http://m.youtube.com/watch?v=5BV55IrZi7g

As for use cases...

The Opportunity

Given the current global financial instability, geopolitical tensions & high levels of government debt, holding sizeable deposits of fiat, stocks or commodities is becoming increasingly risky within the current financial system. Therefore, BitShares X may need very little real-world proving under its belt, before it is seen by some very big players as an appealing hedge for a portion of their portfolio.

Indeed should those centralised risk factors get worse or even materialise - such as significant deposit confiscations - BitShares X will be in a dominant position to displace a large part of a multi-trillion dollar industry virtually overnight.

Target Markets

Traders

It should go without saying that the privacy, low costs, freedom from confiscation and other advantages of trading on a blockchain will appeal to many of the hundreds of thousands of traders currently engaged in trading currencies, commodities and stocks all around the world.

In order to support such trading activities, BitShares X introduces TITAN - A brand new privacy feature which allows for fully secure, anonymous transactions, transferred to and from easy to remember user-created, account names.
 
Bitcoin Retailers and Users

There are over 30K+ retailers who currently accept Bitcoin as payment; however the vast majority, due to tight retail margins and the relatively high volatility of Bitcoin,  transition directly back to fiat via a third party service like BitPay. Many of these retailers may wish to hold a portion of their revenue in Bit-Assets such as BitUSD.

Similarly the thousands of Bitcoin and alt-coin holders may also wish to hold a portion of their fiat earnings or savings in less volatile assets such as BitUSD, BitCNY or BitGold.

Existing Hotspots

Places like Ukraine, Venezuela, Argentina, Ghana and many Asian countries have significant capital controls that already restrict the flow of capital and foreign currency. The need for BitShares X to fill a void caused by these restrictions is clear, so it makes sense that there may be rapid adoption in areas like this, as they were also some of the strongest areas of initial Bitcoin adoption.

Crypto 3.0?
Game changer?
Lol please.  You people need to get out more

I understand and like 'free floating' asset prices, 'pegged' screams of manipulation of price. So what's the purpose of those, can anyone give a use case?

That's something promising.I imagine that the two combined it can be created something really valuable.I'm waiting to see the results of this.

derp

What is market pegged BitAssets and why are they important?

This is very exciting! I think these two projects working together could make DACs a lot more viable for a wide range of businesses.

Lol

http://letstalkbitcoin.com/blog/post/overstock-to-cryptostock
The overstock article above is a quality read. I've seen nothing that indicates anyone at NXT has the level of economic understanding & insight Bytemaster does.

I've seen a rushed table from NXT/supporters claiming market pegged BitAssets are planned and in green
https://bitcointalksearch.org/topic/m.8055098 but to date I've seen nothing yet that indicates NXT has even started 'anything'?

Meanwhile they're being finalised for BitSharesX & things like BitUSD are an obvious game changer
https://bitsharestalk.org/index.php?topic=6949.0

Since Vitalik has raised to much money. He might as well sub-contracting all his work to other projects and integrate all the projects together.

That would be so awesome if two of my favorite crypto currency projects joined forces!! 

Daniel and Vitalik are two of the brightest minds in crypto IMO, only great things could come from cooperation between the two projects.

http://letstalkbitcoin.com/blog/post/overstock-to-cryptostock

Articles like this show us Dan and team understand the big picture of crypto technology.  Can't wait to see what 2014 brings and a partnership between good people can only help things along.

Does it mean both Vitalik and Dan are so afraid of NXT that they have to join efforts now?

https://bitsharestalk.org/index.php?topic=6990.msg93147#msg93147

http://bitshares.org/delegated-proof-of-stake/

It's currently in use in BitSharesX.

If you want to see a table that compares DPOS blockchains to the others -
http://wiki.bitshares.org/index.php/Why_choose_BitShares%3F

Sounds interesting, where can I get an overview about DPOS?