We need some base money in the exchange.

[monsterer]

@monsterer didn't you have a thread where you discussed this with @tonyk ?

I thought about it for a bit, but came to the conclusion that a pure blockchain market maker would probably get exploited and end up diluting BTS... unless it was written by a proper algo trading expert and these guys are very expensive, and their technology (the MMers) are worth hundreds of thousands of dollars.

[Akado]

@monsterer didn't you have a thread where you discussed this with @tonyk ?

[Chronos]

I think this is a fascinating idea that should be explored further.

[JonnyB]

Bridges will not be built until the markets are more liquid just ask any of the gateways why they haven't already introduced smartcoin bridges.

premiums and spreads for smartcoins are crazy high and un useable. this is why we need to jump start this market with some reserve pool backed smartcoin.

[iHashFury]

How to profit from bitshares shareholders when there are not enough bridges.

Lets build more bridges!
Happy New Year

[JonnyB]

The dex is struggling to get going and I think we need to create maybe $50,000 BITUSD and 100 BITBTC using reserve funds as collateral and sell it in to the market at feed price with the proceeds of the sale going back into the reserve funds.

Although I would like to create bitBTC into existence myself I'm not currently confident I'll be able to buy back the bitBTC at a reasonable price in the future to close my collateral position. I've bought 5 BITBTC at a huge premium (+30%) and I'm unlikely to sell anytime soon. Meaning those who wish to exit their collateral positions will be unable to as I'm not selling and I hold 10% of total supply. 
Smartcoin creators need to be bolstered by a supply of smartcoin liquidity and this should come from the reserve pool.

does anyone know if the reserve pool has an actual account?

What is your reasoning for buying bitBTC with 30% premium?

If I buy up all the bitbtc I can and refuse to sell it back for any less than +50% premium then there's profit for me.
And some people may really want to close their collateral positions so they can sell their BTS they have tied up in collateral.
If this strategy is sucessful and their are many desperate people unable to close their collateral positions I will have proved their is a need to create some base money using the reserve pool funds.
I maybe wrong however if people are will to keep borrowing bitbtc in to existence and sell it to me.

[tonyk]

The dex is struggling to get going and I think we need to create maybe $50,000 BITUSD and 100 BITBTC using reserve funds as collateral and sell it in to the market at feed price with the proceeds of the sale going back into the reserve funds.

Although I would like to create bitBTC into existence myself I'm not currently confident I'll be able to buy back the bitBTC at a reasonable price in the future to close my collateral position. I've bought 5 BITBTC at a huge premium (+30%) and I'm unlikely to sell anytime soon. Meaning those who wish to exit their collateral positions will be unable to as I'm not selling and I hold 10% of total supply. 
Smartcoin creators need to be bolstered by a supply of smartcoin liquidity and this should come from the reserve pool.

does anyone know if the reserve pool has an actual account?

What is your reasoning for buying bitBTC with 30% premium?

[puppies]

" I would like to see the committee regularly sell these bitassets back into the market.  "

fees collected as bitassets get turned in to BTS. Isn't this just selling them on the BTS markets already?

If I pay a fee in bitUSD, what happens behind the scenes is that this bitUSD is put into a fund that the asset issuer owns.  Then the actual fee is paid out of the fee pool, which is a bts fund.  Over time this removes bitUSD from circulation.  I think adding this bitusd back into circulation would help with liquidity.

[JonnyB]

" I would like to see the committee regularly sell these bitassets back into the market.  "

fees collected as bitassets get turned in to BTS. Isn't this just selling them on the BTS markets already?

[puppies]

At this point I don't think we should use reserve funds to short bitassets.  A good place to start though would be selling the bitassets that have been collected as fees back into the markets.  There are currently about .5BTC 6900USD and 7850 CNY locked up after being converted to bts by the fee pool for these assets.  Theoretically there is still buying pressure from the shorters of these assets, but there is a reduced supply to purchase.  I would like to see the committee regularly sell these bitassets back into the market. 

After that the bts could be used to further short assets in direct proportion to the bts gained from selling the bitasset into the market.  I'm not exactly sure what to think about the last part.  Imbalance between shorts and longs seems like it would at least temporarily depress the price.  This might not be such a bad thing in markets like USD, or BTC, but the last thing I think CNY needs is more sell pressure. 

[Xypher]

I am willing to provide my time, energy and any other resource at my disposal towards market creation.
I am not in a state to commit financially towards this , however I am willing to dedicate time towards ensuring market activity over a period of time.
Do let me know if I can assist in any fashion.

Regards
X

[JonnyB]

The dex is struggling to get going and I think we need to create maybe $50,000 BITUSD and 100 BITBTC using reserve funds as collateral and sell it in to the market at feed price with the proceeds of the sale going back into the reserve funds.

Although I would like to create bitBTC into existence myself I'm not currently confident I'll be able to buy back the bitBTC at a reasonable price in the future to close my collateral position. I've bought 5 BITBTC at a huge premium (+30%) and I'm unlikely to sell anytime soon. Meaning those who wish to exit their collateral positions will be unable to as I'm not selling and I hold 10% of total supply. 
Smartcoin creators need to be bolstered by a supply of smartcoin liquidity and this should come from the reserve pool.

does anyone know if the reserve pool has an actual account?