These are chat archives for ethereumbuilders/edollar

26th
Apr 2015
creon-nu
@creon-nu
Apr 26 2015 15:05
hi, interesting concept you are proposing. I am looking forward to the slides to day. if you want to talk about more semi-centralized way for liquidity provision, feel free to PM me, i implemented a working pool concept for NuBIts which is currently running on bittrex. all open source of course
Ola
@innovator256
Apr 26 2015 15:14
so I wasn't able to get far but I lent some time to this yesterday, I have a basic skeleton after a few hours : http://development.edollar.divshot.io/?
Rocky Fikki
@rfikki
Apr 26 2015 16:20
@innovator256 is that a mockup for the edollar app?
Mihai Alisie
@MihaiAlisie
Apr 26 2015 16:43
hey @Rune23 , are we still on for the hangout today?
At what hour is it happening (GMT)? (we’ve worked on the timezone display feature and I want to make sure it’s working well)
Rune23
@Rune23
Apr 26 2015 16:50
@MihaiAlisie it's happening 6 PM GMT I believe, 8 pm in denmark
so 1 hour and 10 minutes from now
I think ill post to reddit when its exactly one hour
Mihai Alisie
@MihaiAlisie
Apr 26 2015 16:51
do you expect more than 10 participants?
just to know if I should look for screencapturing options instead of hangout on air
webRTC swap not ready yet -_-;
Rune23
@Rune23
Apr 26 2015 16:53
So what do we do, use google hangouts?
Mihai Alisie
@MihaiAlisie
Apr 26 2015 16:53
yep, the usual
Rune23
@Rune23
Apr 26 2015 16:54
maybe we could do a hybrid system where people ask questions in this chatroom, and watch on youtube livestream
if anyone wants to ask question directly you invite them to the hangout
Mihai Alisie
@MihaiAlisie
Apr 26 2015 16:54
hmm…could work.
If everyone is okay with it I have nothing against this approach :)
Ola
@innovator256
Apr 26 2015 16:55
@rfikki yes it is, just showing an overall better look and feel
hey @MihaiAlisie
Mihai Alisie
@MihaiAlisie
Apr 26 2015 16:56
hey @innovator256
what’s up?
Rune23
@Rune23
Apr 26 2015 16:57
so when the hangout starts we just chat in this room, and if it fills up we start linking to the youtube livestream
Rocky Fikki
@rfikki
Apr 26 2015 16:59
Can you post the URL for access to the hangout. I thought I had it bookmarked but cannot find it.
Kobi Gurkan
@kobigurk
Apr 26 2015 17:12
will surely be there!
Rocky Fikki
@rfikki
Apr 26 2015 17:14
@MihaiAlisie thanks...
Mihai Alisie
@MihaiAlisie
Apr 26 2015 17:18
:+1:
Ola
@innovator256
Apr 26 2015 17:23
@MihaiAlisie nothing much, just being a professional juggler
hope all is well
see you at edollar meet
Ryan R Sundberg
@sundbry
Apr 26 2015 17:40
Is this going down in person somewhere?
If we want to come meet IRL
Rune23
@Rune23
Apr 26 2015 17:44
I'm going to new york city in may and will try to set up a meetup/come to the ethereum meetups there
Mihai Alisie
@MihaiAlisie
Apr 26 2015 17:45
Rune23
@Rune23
Apr 26 2015 18:01
chat for the hangout is done here
Ryan R Sundberg
@sundbry
Apr 26 2015 18:02
It's clear
Rocky Fikki
@rfikki
Apr 26 2015 18:13
140% is that a change from your paper which list the 150% figure?
Mihai Alisie
@MihaiAlisie
Apr 26 2015 18:13
ΞUSD is starting to grow on me :) looks nice
Mihai Alisie
@MihaiAlisie
Apr 26 2015 18:43
heeeeeey
looking great!
:clap:
Ryan R Sundberg
@sundbry
Apr 26 2015 18:44
+1
Ola
@innovator256
Apr 26 2015 18:44
refresh it
Mihai Alisie
@MihaiAlisie
Apr 26 2015 19:02
Great work!
Crypt Ohio 10:02 PM
what is the main incentives for providing collateral again?
so traders will borrow collateral from me? what is an average return I can expect on offering collateral?
i see...so is collateral the same thing as "margin"?
Ryan R Sundberg
@sundbry
Apr 26 2015 19:09
So if collateral by itself does not make any interest, it is expected that user demand for EUSD will pay a premium (up to $0.01) to incentivize new collateral?
Otherwise I'm losing interest at 2:1 of the EUSD
The time value of the collateral is going to motivate me to pull my collateral out, if prices stay stable. So it would depend on high volatilaty of ETH to keep EUSD liquid in some sense
Don't you want to pay yields to EUSD collateral depositors, not EUSD holders
Ryan R Sundberg
@sundbry
Apr 26 2015 19:15
I think that's a false assumption, people are presumably depositing collateral to spend EUSD, not to hold it
You would want the EUSD to have the negative interest rate, not a positiv eone
The way the Fed works, the depositors to the Fed who put up collateral for USD, get the yields, not the USD holders
Mihai Alisie
@MihaiAlisie
Apr 26 2015 19:18
what’s the logic behind the yeld amount received by the EUSD holders?
First Last 10:18 PM
How did sundbry get that premium of up to $0.01 to incentivize new collateral?
Ryan R Sundberg
@sundbry
Apr 26 2015 19:20
When the EUSD is > $1.00 on the open market, people issuing EUSD at that time get the difference
Mihai Alisie
@MihaiAlisie
Apr 26 2015 19:21
First Last 10:20 PM
okay we're assuming a 1% difference max?
First Last 10:22 PM
so the initial incentivization would be set by Nexus' rules?
CryptOhio
@CryptOhio
Apr 26 2015 19:23
When will you be selling EUSD tokens?
Ryan R Sundberg
@sundbry
Apr 26 2015 19:23
With a 2% USD inflation rate, and let's assume 3% APY opportunity cost of the collateral, multiplied by 2 b/c of 2:1 ratio, you're looking at a -8% interest rate for collateral depositors
Do you see why that wouldbe a problem
CryptOhio
@CryptOhio
Apr 26 2015 19:24
yes
Mihai Alisie
@MihaiAlisie
Apr 26 2015 19:24
First Last:
Could you explain the difference between keepers and brokers of EUSD?
CryptOhio
@CryptOhio
Apr 26 2015 19:24
so I have to buy at least a 1% lot?
ok...that is fair
how many programmers are working on this now?
Ryan R Sundberg
@sundbry
Apr 26 2015 19:29
Thanks, the macroeconomics are probably more significant in longer term anyways, that could be addressed in the future after letting EUSD grow for a while.
IMF "Special Drawing Rights" come to mind
EBigMac
Mihai Alisie
@MihaiAlisie
Apr 26 2015 19:34
t sul 10:33 PM
so is the idea essentially that if you want to stabilize your ether a specific "pegged $" amount then you would issue yourself EUSD at 200% collateral and if you want to speculate on the value of EUSD then you would hold/invest in the "maker coin"?
Rocky Fikki 10:35 PM
In reading your initial paper you listed a 150% value for the possibility of margin calls to kick in. What was the reason for changing this to 140%? what is the logic for coming up with this value?
CryptOhio
@CryptOhio
Apr 26 2015 19:40
in the instance of fast price movements or black swan events, how fast can the trades be executed (EUSD, ether, collateral, etc.)? Is the 12 second blocktime the limiting factor, or is it faster (i.e. 0 confirmations like shapeshift)?
i agree with you about the risk...but the average trades/transactions will take about how long to execute/confirm?
Mihai Alisie
@MihaiAlisie
Apr 26 2015 19:44
Rocky Fikki 10:43 PM
How well tested will emax be at the time this is instituted?
CryptOhio
@CryptOhio
Apr 26 2015 19:44
okay, that's what I was asking...so it will be like shapeshift - instant at 0 confirmations...thanks for the good answer :)
shopnhowler
@shopnhowler
Apr 26 2015 19:48
so emax will be registered in switzerland...as a non-profit like ethereum?
oh okay
operations in US?
Mihai Alisie
@MihaiAlisie
Apr 26 2015 19:50
Rocky Fikki
Is there some sort of fee that emax takes?
shopnhowler
@shopnhowler
Apr 26 2015 19:50
yeah I read that
CryptOhio
@CryptOhio
Apr 26 2015 19:50
the EU is talking about possibly funding open source projects and bug hunting now? would this affect you?
Mihai Alisie
@MihaiAlisie
Apr 26 2015 19:51
t sul 10:51 PM
can you give some specific use cases for eDollars.
shopnhowler
@shopnhowler
Apr 26 2015 19:54
eAssets too right?
Mihai Alisie
@MihaiAlisie
Apr 26 2015 19:54
Rocky Fikki 10:54 PM
So, you are thinking that eDollar will replace ether as a fuel for transactions?
shopnhowler
@shopnhowler
Apr 26 2015 19:57
also wouldn't people who later issue eAssets collateralize with EUSD by buying EUSD from keepers who buy from brokers?
i think that's keepers
thanks
Mihai Alisie
@MihaiAlisie
Apr 26 2015 19:59
save it for the next presentation!
hehe
t sul 10:59 PM
would you compare "keepers" to a group of banks that issue edollars?
shopnhowler
@shopnhowler
Apr 26 2015 20:00
so the distinguishing factor of keepers from market makers are the rights to vote on parameters?
we need venn diagrams!
but thanks!
CryptOhio
@CryptOhio
Apr 26 2015 20:06
how can I contact you if I want to buy a 1% lot?
i trust you :)
if not...i'll find you!
lol
shopnhowler
@shopnhowler
Apr 26 2015 20:07
so a 5% lot is $25k and 1% lot, $5k?
CryptOhio
@CryptOhio
Apr 26 2015 20:07
that's right howler
is there capital gains tax on Bitcoin and crypto in Denmark?
lucky duck...the communist IRS made sure they got their cut here in the US
is the tax laws the same in Germany?
Rune23
@Rune23
Apr 26 2015 20:12
skype: rune424 reddit: rune4444
edollar.io
Mihai Alisie
@MihaiAlisie
Apr 26 2015 20:12
can you talk about using a front end .com website or edollar being only accessible via mist?
shopnhowler
@shopnhowler
Apr 26 2015 20:20
if eDollar's price feeds later come from augur, and people make the bets using eDollar isn't that cyclical?
that makes sense
CryptOhio
@CryptOhio
Apr 26 2015 20:22
so ethereum could function as a Firefox plug-in, for example...I think ppl would like this
i see...having Mist and a plug-in would be a nice option :)
plug-in for the average users, but we'll need Mist to take down the Fed once and for all :)
that's awesome!
I
I'll use both...high security for my savings and less security for convenience
CryptOhio
@CryptOhio
Apr 26 2015 20:27
exciting stuff
Mihai Alisie
@MihaiAlisie
Apr 26 2015 20:27
Thanks for the awesome session @Rune23 ! Great stuff!! :metal:
CryptOhio
@CryptOhio
Apr 26 2015 20:28
do you twitter, rune?
shopnhowler
@shopnhowler
Apr 26 2015 20:29
yes thanks rune
nooo don't succumb to facebook
Mihai Alisie
@MihaiAlisie
Apr 26 2015 20:31
t sul 11:30 PM
what are the dates for your NYC trip?
CryptOhio
@CryptOhio
Apr 26 2015 20:31
thanks for your time, Rune :)
and Mihai :) thank you!
shopnhowler
@shopnhowler
Apr 26 2015 20:32
yes thanks rune!
thanks mihai!
Mihai Alisie
@MihaiAlisie
Apr 26 2015 20:33
more than welcome @shopnhowler !
:dancers:
shopnhowler
@shopnhowler
Apr 26 2015 20:33
haha
Ola
@innovator256
Apr 26 2015 20:44
I missed the second half of the presentation hopefully I didn't miss too much
Rune23
@Rune23
Apr 26 2015 20:45
luckily theres the youtube :)
Ola
@innovator256
Apr 26 2015 20:46
yep and 2x speed
Rune23
@Rune23
Apr 26 2015 20:48
come on, thats an easily digestible 2.5 hours of my droning voice :P
btw anyone has any input on the logo, and especially what color it should be?
blue is too obvious, gold and silver taken by btc and ltc
could have some shade of green but not sure which
Ola
@innovator256
Apr 26 2015 20:52
it can replace 1.2 brutal hours of music while I code, :)
Ola
@innovator256
Apr 26 2015 20:53
you need keywords to define the logo first..
ie stability & confidence..., you may want to provide those as important key projection in brief to a designer
Rune23
@Rune23
Apr 26 2015 20:54
Ola
@innovator256
Apr 26 2015 20:55
ahh I see
its still abstract
Rune23
@Rune23
Apr 26 2015 20:55
chis243.jpg
this one is better
so pretty
Ola
@innovator256
Apr 26 2015 20:56
needs to be easily understandable by the majority
that and the ying yang symbol
Rune23
@Rune23
Apr 26 2015 20:57
yin yang is too campy imo, but thats the right direction
its a symbol that actually denotes stability
i just love those ancient chinese coins
they are so awesome, you can easily hold them in a "wallet" by having them on a string
and you can check their value and authenticity by using special measuring sticks that measure the size of the hole
Ola
@innovator256
Apr 26 2015 20:59
yeah they are pretty cool
Rune23
@Rune23
Apr 26 2015 20:59
ill keep an open mind towards suggestions and other motives though
would be awesome if we could find something that is simple and actually shows stability
Ola
@innovator256
Apr 26 2015 21:00
yeah you have the crowd to work with, for you to find middle ground soon