Author [EN] [ZH] [ES] [PT] [IT] [DE] [FR] [NL] [TR] [SR] [AR] [RU] [EN] [ZH] [ES] [PT] [IT] [DE] [FR] [NL] [TR] [SR] [AR] [RU] [EN] [ZH] [ES] [PT] [IT] [DE] [FR] [NL] [TR] [SR] [AR] [RU] Topic: Any bank pay you interest for the money in your pocket?  (Read 1286 times)

0 Members and 1 Guest are viewing this topic.

Offline lastagile

  • Full Member
  • ***
  • Posts: 144
    • View Profile
Any bank pay you interest for the money in your pocket?
« on: April 22, 2015, 02:17:03 PM »

If I'm bad guy, and I have 1 million USD. I want BTS price keep falling down.
What I need to do is, change all my money to BITUSD, Then wait the monthly expire of short order. I'll hold all my BITUSD until we have no enough shorter, the expired short order have to get the BITUSD to cover. Shorter need to sell BTS to get BITUSD, while all the BITUSD is hold by me.This will keep the price falling. 

As a bad guy, I'll lose nothing, while earn some interesting.

I think the rule need be changed. The one hold BITUSD should pay people short for them.

In an bank I borrow money, and I can use the money to do more meaningful things, and I have to pay interesting.
In BTS, I short BTS and create BITUSD, but I can not use the BITUSD, other people get my BITUSD, and use BITUSD, and I have to pay the interesting to him. What a fuck???

BITUSD is for trade, not for people to hold. I'd like suggest people who short, set interesting to 0.
People who hold bitUSD can use the bitUSD to trade, to buy stuff, to hire people to work for them in the Internet, and can invest with bitUSD. bitUSD is like the money in your pocket. Any bank pay u interest while the money is in your pocket?
As a Shorter, yes, we can get more BTS. BUT, the BTS is locked, we can not use the BTS do any thing but hoping the BTS price goes up.

This is not how the world run!!
We need is real economist. Don't tell me BM is a economist..
« Last Edit: April 22, 2015, 03:13:51 PM by lastagile »

Offline btswildpig

  • Hero Member
  • *****
  • Posts: 1424
    • View Profile
Re: We need an economist
« Reply #1 on: April 22, 2015, 02:34:49 PM »
I know some economist , but they're quite busy .... :P
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 Thom

Re: We need an economist
« Reply #2 on: April 22, 2015, 02:39:41 PM »
You seem to have missed the point about BitUSD as an interest bearing savings account.

This has been used in numerous examples to describe the utility of BitUSD. It will be a major draw and migration path from those fleeing the fiat banking system to safer places to store their wealth, once BitUSD becomes more liquid, when that happens (BitUSD sure isn't liquid enough right now).

If you're looking for short term profits BTS may not be your best investment.
« Last Edit: April 23, 2015, 01:08:12 AM by Thom »
Injustice anywhere is a threat to justice everywhere - MLK |  Verbaltech2 Witness Reports: https://bitsharestalk.org/index.php/topic,23902.0.html

Offline luckybit

Re: We need an economist
« Reply #3 on: April 22, 2015, 02:44:13 PM »
If I'm bad guy, and I have 1 million USD. I want BTS price keep falling down.
What I need to do is, change all my money to BITUSD, Then wait the monthly expire of short order. I'll hold all my BITUSD until we have no enough shorter, the expired short order have to get the BITUSD to cover. Shorter need to sell BTS to get BITUSD, while all the BITUSD is hold by me.This will keep the price falling. 

As a bad guy, I'll lose nothing, while earn some interesting.

I think the rule need be changed. The one hold BITUSD should pay people short for them.

In an bank I borrow money, and I can use the money to do more meaningful things, and I have to pay interesting.
In BTS, I short BTS and create BITUSD, but I can not use the BITUSD, other people get my BITUSD, and use BITUSD, and I have to pay the interesting to him. What a fuck???

BITUSD is for trade, not for people to hold. I'd like suggest people who short, set interesting to 0.

This idea must come up from some coder. But what we need is economist.

The last thing we need is an economist who has no experience with this space. Bytemaster has an economics background himself, he's not just an ordinary developer. That is why Bitshares has the advantages it has.

Bitshares started out as an experiment to test a hypothesis that Bytemaster put forth. It's just a testing of that hypothesis and we learned from that. Bytemaster could pursue a Phd in economics honestly just from his work on Bitshares so who would you be able to find who knows as much about this space and economics who could help?

There was an economist on the team at one point early on as an adviser. Advisers are good and can always help. What happened to the economist Charles Evans? http://www.pecuniology.com/who.php
 +5%
https://www.youtube.com/watch?v=2ueyO72j_Iw
 +5%
https://www.youtube.com/watch?v=ZT9ICMfUDjk
 +5%
But I think it would be a dramatic error to appeal to the authority of aliens. Aliens to the space we are in have no experience, no trust, and while they might have knowledge which could be helpful it's unlikely they understand the mechanics of this particular environment to give advice. It's kind of like going to a lawyer to help with smart contracts, it's not helpful unless the lawyer is someone who really knows how to read and write code and also understands the space.


« Last Edit: April 22, 2015, 02:56:38 PM by luckybit »
https://metaexchange.info | Bitcoin<->Altcoin exchange | Instant | Safe | Low spreads

Offline Ben Mason

  • Hero Member
  • *****
  • Posts: 1072
  • Integrity & Innovation, powered by Bitshares
    • View Profile
  • BTS: benjojo
Re: We need an economist
« Reply #4 on: April 22, 2015, 02:54:03 PM »
If paper currencies have an innate value of zero and the central banks are determined to reveal that fact to larger and larger numbers of people, then very rapidly bitUSD and the rest will have a zero value.  We should be somewhat wary of who we encourage to use each of these bitAssets and in what way. 

Even if the managed price of Gold goes to zero, it won't be long before a physical market price exerts itself and your bitGold reflects that.  bitAnything-that-actually-has-value should be the ones to market!

Offline bytemaster

Re: We need an economist
« Reply #5 on: April 22, 2015, 03:13:29 PM »
If paper currencies have an innate value of zero and the central banks are determined to reveal that fact to larger and larger numbers of people, then very rapidly bitUSD and the rest will have a zero value.  We should be somewhat wary of who we encourage to use each of these bitAssets and in what way. 

Even if the managed price of Gold goes to zero, it won't be long before a physical market price exerts itself and your bitGold reflects that.  bitAnything-that-actually-has-value should be the ones to market!

+1
For the latest updates checkout my blog: http://bytemaster.bitshares.org
Anything said on these forums does not constitute an intent to create a legal obligation or contract between myself and anyone else.   These are merely my opinions and I reserve the right to change them at any time.

Offline bytemaster

Re: Any bank pay you interest for the money in your pocket?
« Reply #6 on: April 22, 2015, 03:15:28 PM »
If I'm bad guy, and I have 1 million USD. I want BTS price keep falling down.
What I need to do is, change all my money to BITUSD, Then wait the monthly expire of short order. I'll hold all my BITUSD until we have no enough shorter, the expired short order have to get the BITUSD to cover. Shorter need to sell BTS to get BITUSD, while all the BITUSD is hold by me.This will keep the price falling. 

As a bad guy, I'll lose nothing, while earn some interesting.

I think the rule need be changed. The one hold BITUSD should pay people short for them.

In an bank I borrow money, and I can use the money to do more meaningful things, and I have to pay interesting.
In BTS, I short BTS and create BITUSD, but I can not use the BITUSD, other people get my BITUSD, and use BITUSD, and I have to pay the interesting to him. What a fuck???

BITUSD is for trade, not for people to hold. I'd like suggest people who short, set interesting to 0.
People who hold bitUSD can use the bitUSD to trade, to buy stuff, to hire people to work for them in the Internet, and can invest with bitUSD. bitUSD is like the money in your pocket. Any bank pay u interest while the money is in your pocket?
As a Shorter, yes, we can get more BTS. BUT, the BTS is locked, we can not use the BTS do any thing but hoping the BTS price goes up.

This is not how the world run!!
We need is real economist. Don't tell me BM is a economist..

We have already identified this problem and also the solution:

1) No interest on BitUSD
2) No expiration on Shorts unless USD request force settlement at a discount (profit to the short)
3) Bond market which locks up BitUSD like a CD and pays interest.

For the latest updates checkout my blog: http://bytemaster.bitshares.org
Anything said on these forums does not constitute an intent to create a legal obligation or contract between myself and anyone else.   These are merely my opinions and I reserve the right to change them at any time.

Offline lastagile

  • Full Member
  • ***
  • Posts: 144
    • View Profile
Re: Any bank pay you interest for the money in your pocket?
« Reply #7 on: April 22, 2015, 03:18:22 PM »
If I'm bad guy, and I have 1 million USD. I want BTS price keep falling down.
What I need to do is, change all my money to BITUSD, Then wait the monthly expire of short order. I'll hold all my BITUSD until we have no enough shorter, the expired short order have to get the BITUSD to cover. Shorter need to sell BTS to get BITUSD, while all the BITUSD is hold by me.This will keep the price falling. 

As a bad guy, I'll lose nothing, while earn some interesting.

I think the rule need be changed. The one hold BITUSD should pay people short for them.

In an bank I borrow money, and I can use the money to do more meaningful things, and I have to pay interesting.
In BTS, I short BTS and create BITUSD, but I can not use the BITUSD, other people get my BITUSD, and use BITUSD, and I have to pay the interesting to him. What a fuck???

BITUSD is for trade, not for people to hold. I'd like suggest people who short, set interesting to 0.
People who hold bitUSD can use the bitUSD to trade, to buy stuff, to hire people to work for them in the Internet, and can invest with bitUSD. bitUSD is like the money in your pocket. Any bank pay u interest while the money is in your pocket?
As a Shorter, yes, we can get more BTS. BUT, the BTS is locked, we can not use the BTS do any thing but hoping the BTS price goes up.

This is not how the world run!!
We need is real economist. Don't tell me BM is a economist..

We have already identified this problem and also the solution:

1) No interest on BitUSD
2) No expiration on Shorts unless USD request force settlement at a discount (profit to the short)
3) Bond market which locks up BitUSD like a CD and pays interest.
Oh, sorry. I don't know this.
Is there an official post to reveal this. So that the market will not go crazy again in the following expire flood. 

Offline xeroc

  • Board Moderator
  • Hero Member
  • *****
  • Posts: 12280
  • ChainSquad GmbH
    • View Profile
    • ChainSquad GmbH
  • BTS: xeroc
  • GitHub: xeroc
Re: Any bank pay you interest for the money in your pocket?
« Reply #8 on: April 22, 2015, 03:33:40 PM »
Oh, sorry. I don't know this.
Is there an official post to reveal this. So that the market will not go crazy again in the following expire flood.
I guess he is referring to the BitAsset 3.0 proposal:
https://bitsharestalk.org/index.php/topic,15775.0.html
Give BitShares a try! Use the http://testnet.bitshares.eu provided by http://bitshares.eu powered by ChainSquad GmbH

Offline lastagile

  • Full Member
  • ***
  • Posts: 144
    • View Profile
Re: Any bank pay you interest for the money in your pocket?
« Reply #9 on: April 22, 2015, 03:45:15 PM »
Oh, sorry. I don't know this.
Is there an official post to reveal this. So that the market will not go crazy again in the following expire flood.
I guess he is referring to the BitAsset 3.0 proposal:
https://bitsharestalk.org/index.php/topic,15775.0.html
That is much better than the current rule, possibly there are still some bugs, we need to think deeply this time.

But Asset 3.0 did not mentioned about interest.

Offline joele

  • Sr. Member
  • ****
  • Posts: 465
    • View Profile
Re: Any bank pay you interest for the money in your pocket?
« Reply #10 on: April 22, 2015, 04:38:34 PM »
If I'm bad guy, and I have 1 million USD. I want BTS price keep falling down.
What I need to do is, change all my money to BITUSD, Then wait the monthly expire of short order. I'll hold all my BITUSD until we have no enough shorter, the expired short order have to get the BITUSD to cover. Shorter need to sell BTS to get BITUSD, while all the BITUSD is hold by me.This will keep the price falling. 

As a bad guy, I'll lose nothing, while earn some interesting.

I think the rule need be changed. The one hold BITUSD should pay people short for them.

In an bank I borrow money, and I can use the money to do more meaningful things, and I have to pay interesting.
In BTS, I short BTS and create BITUSD, but I can not use the BITUSD, other people get my BITUSD, and use BITUSD, and I have to pay the interesting to him. What a fuck???

BITUSD is for trade, not for people to hold. I'd like suggest people who short, set interesting to 0.
People who hold bitUSD can use the bitUSD to trade, to buy stuff, to hire people to work for them in the Internet, and can invest with bitUSD. bitUSD is like the money in your pocket. Any bank pay u interest while the money is in your pocket?
As a Shorter, yes, we can get more BTS. BUT, the BTS is locked, we can not use the BTS do any thing but hoping the BTS price goes up.

This is not how the world run!!
We need is real economist. Don't tell me BM is a economist..

We have already identified this problem and also the solution:

1) No interest on BitUSD
2) No expiration on Shorts unless USD request force settlement at a discount (profit to the short)
3) Bond market which locks up BitUSD like a CD and pays interest.

BM, please always make a pre-announcement on any new features of every next wallet release so it will create a buzz and a good impressions that asides from bug fixing the wallet keep adding new features.

Sometimes even a simple feature can make a huge news if done right.
« Last Edit: April 22, 2015, 04:41:19 PM by joele »

Offline xeroc

  • Board Moderator
  • Hero Member
  • *****
  • Posts: 12280
  • ChainSquad GmbH
    • View Profile
    • ChainSquad GmbH
  • BTS: xeroc
  • GitHub: xeroc
Re: Any bank pay you interest for the money in your pocket?
« Reply #11 on: April 22, 2015, 05:38:51 PM »
BM, please always make a pre-announcement on any new features of every next wallet release so it will create a buzz and a good impressions that asides from bug fixing the wallet keep adding new features.

Sometimes even a simple feature can make a huge news if done right.
The history taught this community differently :(
Give BitShares a try! Use the http://testnet.bitshares.eu provided by http://bitshares.eu powered by ChainSquad GmbH

Offline starspirit

  • Hero Member
  • *****
  • Posts: 948
  • Financial markets pro over 20 years
    • View Profile
  • BTS: starspirit
Re: Any bank pay you interest for the money in your pocket?
« Reply #12 on: April 22, 2015, 11:38:39 PM »
If I'm bad guy, and I have 1 million USD. I want BTS price keep falling down.
What I need to do is, change all my money to BITUSD, Then wait the monthly expire of short order. I'll hold all my BITUSD until we have no enough shorter, the expired short order have to get the BITUSD to cover. Shorter need to sell BTS to get BITUSD, while all the BITUSD is hold by me.This will keep the price falling. 

As a bad guy, I'll lose nothing, while earn some interesting.

I think the rule need be changed. The one hold BITUSD should pay people short for them.

In an bank I borrow money, and I can use the money to do more meaningful things, and I have to pay interesting.
In BTS, I short BTS and create BITUSD, but I can not use the BITUSD, other people get my BITUSD, and use BITUSD, and I have to pay the interesting to him. What a fuck???

BITUSD is for trade, not for people to hold. I'd like suggest people who short, set interesting to 0.
People who hold bitUSD can use the bitUSD to trade, to buy stuff, to hire people to work for them in the Internet, and can invest with bitUSD. bitUSD is like the money in your pocket. Any bank pay u interest while the money is in your pocket?
As a Shorter, yes, we can get more BTS. BUT, the BTS is locked, we can not use the BTS do any thing but hoping the BTS price goes up.

This is not how the world run!!
We need is real economist. Don't tell me BM is a economist..

We have already identified this problem and also the solution:

1) No interest on BitUSD
2) No expiration on Shorts unless USD request force settlement at a discount (profit to the short)
3) Bond market which locks up BitUSD like a CD and pays interest.

The premise of the OP is a little off. True, shorts are not borrowing bitUSD to be able to use for some general purpose. They are borrowing for a specific purpose - margin to buy exposure to BTS, a traditional margin lending practice that requires borrowers to pay interest to cover risk to the lender. You can't take cash out of your margin lending portfolio with a broker and buy a car, can you?

Just look at Bitfinex for an analogy in the crypto space. When there is heavy demand to leverage BTC or LTC, interest rates rise. And when this declines they fall. Of course lenders at Bitfinex don't get to use their loans as fungible currency, so its not a complete analogy.

As for the bad guy with-holding bitUSD from meeting expiries, this is no issue if expiries have a settlement limit of the feed price. It is an issue if they are forced to settle over that.




Offline starspirit

  • Hero Member
  • *****
  • Posts: 948
  • Financial markets pro over 20 years
    • View Profile
  • BTS: starspirit
Re: We need an economist
« Reply #13 on: April 22, 2015, 11:49:22 PM »
If I'm bad guy, and I have 1 million USD. I want BTS price keep falling down.
What I need to do is, change all my money to BITUSD, Then wait the monthly expire of short order. I'll hold all my BITUSD until we have no enough shorter, the expired short order have to get the BITUSD to cover. Shorter need to sell BTS to get BITUSD, while all the BITUSD is hold by me.This will keep the price falling. 

As a bad guy, I'll lose nothing, while earn some interesting.

I think the rule need be changed. The one hold BITUSD should pay people short for them.

In an bank I borrow money, and I can use the money to do more meaningful things, and I have to pay interesting.
In BTS, I short BTS and create BITUSD, but I can not use the BITUSD, other people get my BITUSD, and use BITUSD, and I have to pay the interesting to him. What a fuck???

BITUSD is for trade, not for people to hold. I'd like suggest people who short, set interesting to 0.

This idea must come up from some coder. But what we need is economist.

The last thing we need is an economist who has no experience with this space. Bytemaster has an economics background himself, he's not just an ordinary developer. That is why Bitshares has the advantages it has.

Bitshares started out as an experiment to test a hypothesis that Bytemaster put forth. It's just a testing of that hypothesis and we learned from that. Bytemaster could pursue a Phd in economics honestly just from his work on Bitshares so who would you be able to find who knows as much about this space and economics who could help?

There was an economist on the team at one point early on as an adviser. Advisers are good and can always help. What happened to the economist Charles Evans? http://www.pecuniology.com/who.php
 +5%
https://www.youtube.com/watch?v=2ueyO72j_Iw
 +5%
https://www.youtube.com/watch?v=ZT9ICMfUDjk
 +5%
But I think it would be a dramatic error to appeal to the authority of aliens. Aliens to the space we are in have no experience, no trust, and while they might have knowledge which could be helpful it's unlikely they understand the mechanics of this particular environment to give advice. It's kind of like going to a lawyer to help with smart contracts, it's not helpful unless the lawyer is someone who really knows how to read and write code and also understands the space.
One man, no matter his intelligence, cannot design such a vast system alone, at least if it is to become as vast as his vision demands.

Offline luckybit

Re: We need an economist
« Reply #14 on: April 23, 2015, 12:48:08 AM »
If I'm bad guy, and I have 1 million USD. I want BTS price keep falling down.
What I need to do is, change all my money to BITUSD, Then wait the monthly expire of short order. I'll hold all my BITUSD until we have no enough shorter, the expired short order have to get the BITUSD to cover. Shorter need to sell BTS to get BITUSD, while all the BITUSD is hold by me.This will keep the price falling. 

As a bad guy, I'll lose nothing, while earn some interesting.

I think the rule need be changed. The one hold BITUSD should pay people short for them.

In an bank I borrow money, and I can use the money to do more meaningful things, and I have to pay interesting.
In BTS, I short BTS and create BITUSD, but I can not use the BITUSD, other people get my BITUSD, and use BITUSD, and I have to pay the interesting to him. What a fuck???

BITUSD is for trade, not for people to hold. I'd like suggest people who short, set interesting to 0.

This idea must come up from some coder. But what we need is economist.

The last thing we need is an economist who has no experience with this space. Bytemaster has an economics background himself, he's not just an ordinary developer. That is why Bitshares has the advantages it has.

Bitshares started out as an experiment to test a hypothesis that Bytemaster put forth. It's just a testing of that hypothesis and we learned from that. Bytemaster could pursue a Phd in economics honestly just from his work on Bitshares so who would you be able to find who knows as much about this space and economics who could help?

There was an economist on the team at one point early on as an adviser. Advisers are good and can always help. What happened to the economist Charles Evans? http://www.pecuniology.com/who.php
 +5%
https://www.youtube.com/watch?v=2ueyO72j_Iw
 +5%
https://www.youtube.com/watch?v=ZT9ICMfUDjk
 +5%
But I think it would be a dramatic error to appeal to the authority of aliens. Aliens to the space we are in have no experience, no trust, and while they might have knowledge which could be helpful it's unlikely they understand the mechanics of this particular environment to give advice. It's kind of like going to a lawyer to help with smart contracts, it's not helpful unless the lawyer is someone who really knows how to read and write code and also understands the space.
One man, no matter his intelligence, cannot design such a vast system alone, at least if it is to become as vast as his vision demands.

It's not one man, it's an entire community. At the same time there isn't any man with more knowledge and skills required for the task in this community than Bytemaster and I doubt anyone from some other community would be able to learn enough to be of much help in a short period of time.

It would take months for someone to figure out Bitshares and Bitshares is constantly changing.
https://metaexchange.info | Bitcoin<->Altcoin exchange | Instant | Safe | Low spreads

 

Google+