Author Topic: [POLL] What rate should the committee sell the collected bitassets over feed?  (Read 3074 times)

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Offline puppies

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For the sake of argument lets assume that we have all agreed on the need to sell the collected assets owned by the committee-account.  These assets are.
USD   6,910
EUR   10.24
GOLD   0.00381
SILVER   3.09
CNY   7,870
BTC   0.476
What rate above feed do you believe would be best?  Please vote.  If your exact proposal is not listed please vote for the closest to the percentage you would like.  If instead you believe that we should take a completely different tack, please let us know.
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Offline JonnyB

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For simplicity once the order is placed on the books at +10% maybe it should be left there. Trying to adjust it adds un needed complexity.
even if the order isn't executed for months it will still be good for the system as it adds depth.

Simple is best. Perhaps the committee should collect and sell the fees on the first day of every month and leave them there.
This would make it simple for the rest of us to quickly audit what has happened.
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Offline Akado

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For simplicity once the order is placed on the books at +10% maybe it should be left there. Trying to adjust it adds un needed complexity.
even if the order isn't executed for months it will still be good for the system as it adds depth.

Simple is best. Perhaps the committee should collect and sell the fees on the first day of every month and leave them there.
This would make it simple for the rest of us to quickly audit what has happened.

What to do with the BTS earned from the sells though?
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Offline abit

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For simplicity once the order is placed on the books at +10% maybe it should be left there. Trying to adjust it adds un needed complexity.
even if the order isn't executed for months it will still be good for the system as it adds depth.

Simple is best. Perhaps the committee should collect and sell the fees on the first day of every month and leave them there.
This would make it simple for the rest of us to quickly audit what has happened.

What to do with the BTS earned from the sells though?
Recharge the fee pools.
BTS account: abit
BTS committee member: abit
BTS witness: in.abit

Offline puppies

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For simplicity once the order is placed on the books at +10% maybe it should be left there. Trying to adjust it adds un needed complexity.
even if the order isn't executed for months it will still be good for the system as it adds depth.

Simple is best. Perhaps the committee should collect and sell the fees on the first day of every month and leave them there.
This would make it simple for the rest of us to quickly audit what has happened.

What to do with the BTS earned from the sells though?
Recharge the fee pools.

That gets my vote.
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Offline alt

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depend on which asset lack of suply,
for now, I suggest sell USD for CNY,  sell BTC for OPENBTC/METAXBTC

first we can make 5 ask orders in market USD/CNY:
 200 USD  at price 6.6*1.06
 200 USD  at price 6.6*1.07
 200 USD  at price 6.6*1.08
 200 USD  at price 6.6*1.09
 200 USD  at price 6.6*1.1

and make some likely ask orders in market OPENBTC/BTC, but the spread maybe more high, seems 15%-20%

and don't sell these funds all out, let traders know, we have ability to  add supply if they don't sell at a reasonable price.
« Last Edit: January 29, 2016, 04:35:04 am by alt »

Offline puppies

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Is there a reason not to support the native BTS market pairs alt?  I don't see why we should sell bitassets for bitassets.  I think it increases our risk, without helping the shorts, and we can't refill the fee pool with other bitassets.
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Offline alt

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Is there a reason not to support the native BTS market pairs alt?  I don't see why we should sell bitassets for bitassets.  I think it increases our risk, without helping the shorts, and we can't refill the fee pool with other bitassets.
because BTS's price changed too fast, we'll take a big adition risk.

Offline puppies

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We can transfer to the committe-trade account to get around the review period, and then either buy and sell manually or write a simple bot.
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Offline alt

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no, trade at market USD/CNY is enough and simply and safe.
no tradebots can ensure you profit from market BTS/USD, there is a big possible, you'll lost money

Offline xeroc

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For simplicity once the order is placed on the books at +10% maybe it should be left there. Trying to adjust it adds un needed complexity.
even if the order isn't executed for months it will still be good for the system as it adds depth.

Simple is best. Perhaps the committee should collect and sell the fees on the first day of every month and leave them there.
This would make it simple for the rest of us to quickly audit what has happened.
I like that idea .. put it there and let it stay there ..

Also, I think we shouldn't put a simple 'wall' but 5-10 orders spread over +5% - +10%
Not a fan of walls since they result in slippage (even though BTS is not a trader, it should still act rational)
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Offline abit

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no, trade at market USD/CNY is enough and simply and safe.
no tradebots can ensure you profit from market BTS/USD, there is a big possible, you'll lost money
I think no one except you is monitoring USD/CNY market. Which means the market is even more illiquid.

On the other hand, selling USD for CNY will make the CNY market more illiquid since the committee will take some CNY out from the market.

Sell BTC for OpenBTC make some sense for liquidity, but it means have to trust an IOU.


Imo we have to take the risk of losing some money. It's acceptable if we helped liquidity.
« Last Edit: January 29, 2016, 09:44:17 am by abit »
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Offline monsterer

I think this is wrong question. I suggesting looking at how nuBits handles their liquidity provision and emulating them as closely as possible.
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Offline JonnyB

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I think this is wrong question. I suggesting looking at how nuBits handles their liquidity provision and emulating them as closely as possible.

This isn't our main plan for liquidity, this is just hopefully some decisive action on what to do with the relatively small amount of fees the committee has got sitting doing nothing.

I we need a big bold move to make our markets liquid which is the next step that will need to be decided, maybe nubit style, lets just get these collected fees into the marketplace first.
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Offline Akado

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bump. only a few votes but so far it seems starting at 10% is what's preferred. Then it's a matter of deciding if it should be lowered or not
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