Idea for hyper profitability: shareholder responsibilities

[speedy]

Coercing people into doing anything is never a good idea, even if the intentions are good. We already solved this when the fee requiring people to vote constantly was removed (dunno if that 'functionality' was ever on)

Given how much BitShares gets screwed by centralized exchanges, I think its time to do a bit of coercion. If BitShares was a company run by Trump, he would be thinking of things like this.

[Akado]

Coercing people into doing anything is never a good idea, even if the intentions are good. We already solved this when the fee requiring people to vote constantly was removed (dunno if that 'functionality' was ever on)

What we should do is find incentives for people to come and trade on BitShares, which is what we're trying to do with these many 80%features we have.

[speedy]

Right now there is 500 million BTS just sitting on centralized exchanges, not available to pay any fees to the network, just sitting there ready to drag the price down.

So why dont we require shareholders to fulfill responsibilities to support the network? The point being to gradually force BTS off centralized exchanges and into accounts that are active on the DeX. Centralized exchanges that earn huge fees from their users trading BTS back and forth will find that they have to pay for that privilege.

This is how to do it:

Every account (possibly with a minimum amount of 1millioin BTS) is required to perform market making activity on BTS/USD (we can work out the details) using at least 1% of the account's balance of BTS, every single calendar month. All applicable accounts that dont do this pay 5% of their BTS as a penalty. An example criteria of market making is to place an order within 10% of the price feed for a minimum amount of time.

Again, all details subject to discussion.

The only problem with this idea is that the centralized exchanges wont like this and might coordinate their stake to vote themselves onto the committee and disable this feature. But they are still a minority even if they all vote together, and if the community votes for this then we take back control of BitShares into the hands of the real supporters that use the DeX. And we can start earning millions of BTS of in fees.

This idea has some characteristics as the old 5% inactivity fee that BM floated ages ago. Im ready to do market making with 1% of my stake if required by the network.