Steem - What I am Doing About It and How I Need Your Help

[oldman]

I would like to see a more detailed plan.  I like to see a breakdown of

1) The daily budget in USD needed to get the liquidity going
2) Your part of the fee in managing this
3) How are you going to do it? Manual or via some automatic means? 
4) Are you an experience trader? If not, where are you getting the trading experience?
5) Any report given on the effectiveness of the order executions. 
6) What if the venture failed?  Are the monies distributed back to bitshares holders in some way?

Are you going to have a multi-sig account, with perhaps an established bitshares user-owned steem account? 

These are some of my concerns but I like to hear opinions from other bts stakeholders too.

Thank you for your post - great questions! Here's some answers:

1) The daily budget in USD needed to get the liquidity going

10,000 STEEM/104 = 96 STEEM/day. At the time of writing this is about $350 USD per day or ~ $10k per month/$240k total liquidity

It's not much but is realistic based on the amount of time/effort I can make available to earn the initial stake via writing.

If the steemwhales start supporting/upvoting we may be able to do much more - currently we have 134 votes are not yet getting love from the steemwhales.

2) Your part of the fee in managing this

My fees = bts + steem

3) How are you going to do it? Manual or via some automatic means?

Automatic market making bots are preferred. I don't have the skill set to create trading bots but other community members do - we will use the BTS to test and tune them.

4) Are you an experience trader? If not, where are you getting the trading experience?

I have a few decades of trading and investment under my belt, but am always looking to learn new things. Market making via bots in shallow crypto markets is definitely going to be a new thing.

5) Any report given on the effectiveness of the order executions.

If you tell me what metrics you want to track, we will track them.

6) What if the venture failed?  Are the monies distributed back to bitshares holders in some way?

No, funds generated will not be distributed to bitshares holders as I'm not asking for investment or other monetary contributions from the community, ie. there is no risk associated with participation (voting).

However, I will say that If the venture fails I am out a considerable amount of time and effort, which is not trivial at my stage in life.

[oldman]

You'll get upvotes there as long as you're providing good contents. I appreciate your efforts. Voted for the first one. However I have no much time to spend on browsing the site, so perhaps will miss some of your new posts. Please let me know when that's the case.

Thank you svk, your comments and vote are greatly appreciated!

I will continue to use this forum and PMs to keep the community notified of when new Steemit posts are ready for voting - the PMs are very time consuming but it's the most direct and easy way to keep folks informed.

[yvv]

Don't ask questions. Just press the damn upvote button. It does not cost you.

[paliboy]

7) are you going to trade only on DEX?

[cube]

I would like to see a more detailed plan.  I like to see a breakdown of

1) The daily budget in USD needed to get the liquidity going
2) Your part of the fee in managing this
3) How are you going to do it? Manual or via some automatic means? 
4) Are you an experience trader? If not, where are you getting the trading experience?
5) Any report given on the effectiveness of the order executions. 
6) What if the venture failed?  Are the monies distributed back to bitshares holders in some way?

Are you going to have a multi-sig account, with perhaps an established bitshares user-owned steem account? 

These are some of my concerns but I like to hear opinions from other bts stakeholders too.

[abit]

You'll get upvotes there as long as you're providing good contents. I appreciate your efforts. Voted for the first one. However I have no much time to spend on browsing the site, so perhaps will miss some of your new posts. Please let me know when that's the case.

[oldman]

I've manually PM'd 60 of my closet friends on the forum, apparently you're only allowed to spam 60 accounts per hour so I'm shut down for the time being.

Let's see how this goes! Long road, first step.

[oldman]

This is cheating!!

Only if there's a rule book.

If we can bump BTS over the $50M cap there will be a flood of new money coming for the next bull run.

Basically just priming the pump through buying and holding.

[sklsm3]

This is cheating!!

[oldman]

Ok folks, the first post is live!

Unfortuneately Bitsharestalk corrupts the url due to the similar user names (changes @ oldman to @ OldMan automatically, can't disable).

Here is the url:



You can copy/paste and add the @:

https://steemit.com/investments/oldman/what-is-steemit

I am trying to optimize layout and content based on blog posts that earn higher rewards - decent grammar, images, tags, length etc. If  you have any feedback on how to make these posts better please do not be shy.

Comments and upvotes are critical to maximizing rewards. Posts also seem to have a very short shelf life so please upvote as soon as you are able.

Suggestions for topics for future posts are very welcome! I'm not a blogger and coming up with things to write about is not my forte.

Current account balance: 5.031 SP

Good luck to us all!

[oldman]

Awesome! Is there a link to your account on steemit so we can follow or know when you post?

The first post will be up shortly, will post the link and the account name is under the title. Unfortunately Steemit doesn't yet provide the ability to follow people so I will be posting updates in this thread.

I just noticed there is indeed a follow button of the blog page:

https://steemit.com/@-o-l-d-m-a-n

(you will need to remove the dashes)

Thank you for your post!

[bitAndy]

Awesome! Is there a link to your account on steemit so we can follow or know when you post?

[oldman]

You should page the whales you metionned to have their feedbacks.

Sent from my SM-G900F using Tapatalk

I'll PM them through the forum, but I'm not sure how many are still following here. Steemit doesn't seem to have a way to communicate directly, so if I can't get the message out via bitsharestalk I'm not sure how else to get a hold of folks. Any suggestions?

Send them messages through bitshares.

Good point - I've used the forum exclusively to this point, but will broaden my horizons. Thank you!

[yvv]

You should page the whales you metionned to have their feedbacks.

Sent from my SM-G900F using Tapatalk

I'll PM them through the forum, but I'm not sure how many are still following here. Steemit doesn't seem to have a way to communicate directly, so if I can't get the message out via bitsharestalk I'm not sure how else to get a hold of folks. Any suggestions?

Send them messages through bitshares.

[oldman]

You should page the whales you metionned to have their feedbacks.

Sent from my SM-G900F using Tapatalk

I'll PM them through the forum, but I'm not sure how many are still following here. Steemit doesn't seem to have a way to communicate directly, so if I can't get the message out via bitsharestalk I'm not sure how else to get a hold of folks. Any suggestions?