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Offline Riverhead

[ANN] Marketing.Methodx Reboot
« on: March 22, 2015, 03:09:49 PM »

Community,

As many of you know Methodx and myself were one of the first business/technical partnerships. While Methodx's work speaks for itself I played a lesser role of keeping the lights on, handling payments, etc. Sadly Methodx has decided to move on from BitShares which means the delegate falls to me as the remaining business partner. In the interest of transparency and full disclosure this post will describe my new plans for the funds. I welcome your feedback. If the delegate gets voted out that's fine too however I think that would be a wasted opportunity.

During the Mumble of Friday, March 19th, 2015 there was a brief conversation with BM about market making bots, their importance in bootstrapping the ecosystem (liquidity), and where they are needed most. To this end I will be allocating 100% of marketing.methodx income to liquidity bots. While the trading strategy and details won't be public the funds going in to, and out of, the bot from this income source will be (link coming).

The mechanics of this are quite simple. There are already scripts in place that pay 95% of income to MethodX for marketing activities and 5% to myself for operations. The script will be updated to transfer 100% of income to the various marketing market making bots.

In order of priority:
1) Internal bot on the bitUSD/BTS pair.
2) Yunbi bot on the bitUSD/BTC pair
3) metaexchange bot on the <various>/BTC pairs.

Thank you. I look forward to your feedback.

James aka Riverhead.

Offline Xeldal

Re: [ANN] Marketing.Methodx Reboot
« Reply #1 on: March 22, 2015, 03:41:47 PM »
I'm already running a market making bot on most of the Yunbi pairs, most heavily on BTC:bUSD.

Would the funds be better spent making some other market that needs it?

I'm happy to compete with you of course.  ;)  I'd suggest perhaps making the internal bBTC:bUSD market instead.  IMO this really should be the focal point.

Offline Riverhead

Re: [ANN] Marketing.Methodx Reboot
« Reply #2 on: March 22, 2015, 03:45:02 PM »

Thanks Xeldal. I have no intention of competing with you ( with these funds  8) ).

Your ideas about other needed pairs is well received and I am open to input on which pairs to fund.

Offline Gentso1

Re: [ANN] Marketing.Methodx Reboot
« Reply #3 on: March 22, 2015, 03:54:32 PM »
With the market cap being what it is doing any actual marketing might be tough until the funds pool a bit.

I do however support adding liquidity to any of the MM bots.

 

Offline cass

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Re: [ANN] Marketing.Methodx Reboot
« Reply #4 on: March 22, 2015, 03:55:01 PM »
 +5%
█║▌║║█  - - -  The quieter you become, the more you are able to hear  - - -  █║▌║║█

Offline btswildpig

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Re: [ANN] Marketing.Methodx Reboot
« Reply #5 on: March 22, 2015, 04:00:16 PM »
With the market cap being what it is doing any actual marketing might be tough until the funds pool a bit.

I do however support adding liquidity to any of the MM bots.
 

hmm..... you could just pull a cute kitten in front of a screen opening a BitShares wallet ,  capture its cute move and upload to youtube .

"Cute kitten alert"

Next day , you might be looking at 10K+ hits .
这个是私人账号,表达的一切言论均不代表任何团队和任何人。This is my personal account , anything I said with this account will be my opinion alone and has nothing to do with any group.

Offline Riverhead

Re: [ANN] Marketing.Methodx Reboot
« Reply #6 on: March 22, 2015, 04:02:20 PM »
With the market cap being what it is doing any actual marketing might be tough until the funds pool a bit.

I do however support adding liquidity to any of the MM bots.

One aspect of the MM path is that the funds are not spent but utilized. If a marketing project needs funding it can be decided if it would add more value than those funds market making and reallocate accordingly. However I also feel liquidity is marketing of its own type.

Offline xeroc

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Re: [ANN] Marketing.Methodx Reboot
« Reply #7 on: March 22, 2015, 04:15:06 PM »
+5%
Give BitShares a try! Use the http://testnet.bitshares.eu provided by http://bitshares.eu powered by ChainSquad GmbH

Offline Shentist

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Re: [ANN] Marketing.Methodx Reboot
« Reply #8 on: March 22, 2015, 08:02:24 PM »
are you getting the funds already alocated or what happend to them?

Offline speedy

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Re: [ANN] Marketing.Methodx Reboot
« Reply #9 on: March 22, 2015, 08:18:03 PM »
Why is the internal market BitBTC:BitUSD not a priority (why is it not in your list)? Ill vote for you if you use the funds to do MM 50% on BitBTC:BitUSD and 50% on BitBTC:BitCNY. Those markets are finally being added to the exchange frontpage soon. Then we can finally share this link around: https://wallet.bitshares.org/#/market/BitBTC:BitUSD/Guest/buy

We will never attract users unless we can let them trade Bitcoin vs dollars.
« Last Edit: March 22, 2015, 08:20:59 PM by speedy »

Offline Riverhead

Re: [ANN] Marketing.Methodx Reboot
« Reply #10 on: March 22, 2015, 09:02:31 PM »
Why is the internal market BitBTC:BitUSD not a priority (why is it not in your list)? Ill vote for you if you use the funds to do MM 50% on BitBTC:BitUSD and 50% on BitBTC:BitCNY. Those markets are finally being added to the exchange frontpage soon. Then we can finally share this link around: https://wallet.bitshares.org/#/market/BitBTC:BitUSD/Guest/buy

We will never attract users unless we can let them trade Bitcoin vs dollars.

I am open to opinions on which pairs to support. The list in the OP was just a stake in the ground. As funds build all the MPA pairs will be supported.

Offline Riverhead

Re: [ANN] Marketing.Methodx Reboot
« Reply #11 on: March 22, 2015, 09:04:42 PM »
are you getting the funds already alocated or what happend to them?

They went to MethodX (it paid him 57200 every two weeks). What he did with them was buy ads on TOR, start nullstreet, etc. Our delegate account had about 30k BTS in undistributed pay which I have moved to the internal bot.

Offline Shentist

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Re: [ANN] Marketing.Methodx Reboot
« Reply #12 on: March 22, 2015, 09:13:12 PM »
I didn't read that he left, so maybe others are also suprised!

Is this just another marketing guy quitting, before anything happens?

I have the feeling, that this community fails everytime someone ones to do "marketing". So i support your idea 100%, because this will make trading better and we should provide function, better market solutions and the smart traders will come, because the centraliced exchanges they are all sucking.

Just an example, i transfered small amounts to poloniex to try it and i am waiting since 3 days for the confirmation. The support answered for 2 days, they are looking into the problem. It is really - LOL!
« Last Edit: March 22, 2015, 09:20:59 PM by Shentist »

Offline speedy

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Re: [ANN] Marketing.Methodx Reboot
« Reply #13 on: March 22, 2015, 09:20:09 PM »
I am open to opinions on which pairs to support. The list in the OP was just a stake in the ground. As funds build all the MPA pairs will be supported.

Thanks Riverhead.

Well my opinion is that for the internal markets, nothing else matters. If a bitcoiner sees a chart of bitUSD:BTS he will ask "why should I care?" A BitBTC:BitUSD market with a fat orderbook will make him ask "why do i have my money at risk on bitstamp?"

The BitUSD:BTS market is for people who are already excited about our system, and there seems to be volume there already.

Edit: Ah I just noticed that Yunbi switched their BTC:BitUSD market which is good. I think more MM there would be good too.
« Last Edit: March 22, 2015, 09:25:28 PM by speedy »

Offline Xeldal

Re: [ANN] Marketing.Methodx Reboot
« Reply #14 on: March 22, 2015, 09:32:01 PM »
I am open to opinions on which pairs to support. The list in the OP was just a stake in the ground. As funds build all the MPA pairs will be supported.

Edit: Ah I just noticed that Yunbi switched their BTC:BitUSD market which is good. I think more MM there would be good too.

I'm currently making this market at yunbi.  There is almost no action there most of the time.  As volume increases, I'll devote more funds to that market.

 

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