Great summary Stan. I'm amazed at how under valued BTS are in terms of price and practical use. Ground breaking systems seem to often take time to be adopted as sometimes they are simply too far ahead. One thing I didn't realise was the upgrade path possibility from bitshares to EOS. Does this mean EOS would make bitshares obselete in the long term or are they designed to work side by side?
RE: My Briefest Case for BitShares Ever
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My Briefest Case for BitShares Ever
EOS is the only system in the world powerful enough to host BitShares and Steemit. I expect the upgrade to EOS technology to work like going from BTS 2.0 to 3.0, but there are several possible ways to do that. We'll see what the devs come up with.
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not sure if those assertions based on mislead understandings of the tech/economics or something else. those un-backed up assertions are a disservice to steemit, Steem and bitshares in present and future hypothetical contexts. They cannot be backed up rationally, if you disagree, just try me
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So let me gt this straight. You're essentially saying that your dick is bigger than Stan's?
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ive made the case for why app-specific chains can be replicated in app-general environments. i've made the case for how steem's economics become limp inside an application-general environment such as eth, even an eth using bandwidth rate limiting. i've made the case for how SMTs see far less synergy in application-general environments if the core token doesn't support distributions for content creation and curation. haven't even gone into how impractical it would be to migrate a web-application (Steemit (not Steem!)) from AWS to a blockchain-based storage (think 21 nodes times the number of servers we run...). i'm prepared to back up my views to hopefully see people learn this stuff and not spread shallow, unsupported views that aren't defensible from technology and economic perspectives.
but please distract from the lack of support for the claims by trying to turn this into an ad hominem... no.
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Hey @ned, I beleive that in order for this place not to become an echo chamber, all the relevant criticism must be heard and weighted. So I would like to ask you to expand on your presented cases. Additionally, as I am personally pretty far from being a software engineer, I would like to ask you to do it as close as possible to ELI5 terms. Thanks in advance
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Cheers for the reply. Must admit I'm all in on the Larimer genii...
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Steem does not need EOS. Actually hosting Steemit on EOS could cause all sorts of issues. It's really unknown what EOS costs and benefits for Steem and Steemit will be at this point.
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Bitshares and Steem don't need EOS, but Bitshares is looking at whether EOS tech could offer an upgrade to the current Graphene chain. The current Bitshares chain is capable of doing Visa/Mastercard (combined) tx volumes so there is a lot of headroom before an upgrade is needed. But, if EOS kicks ass, why not?
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Not controlling your own blockchain could have serious cons. For example would bitshares be required to hold a sizable amount EOS to get the bandwidth they require?
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EOS software is open source. I am thinking Bitshares could keep its same structure in terms of witnesses and have the those supporting the network switch over to the EOS software.... not necessarily running Bitshares on the main EOS blockchain (i.e., wouldn't even need EOS tokens in that scenario, to my knowledge)
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https://steemit.com/bitcoin/@spiftheninja/alert-segwit2x-is-controlled-by-the-banksters-the-plot-thickens-look-at-this-evidence
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