Steem dollar is more liquid than BitUSD. We should copy it's key feature.

[unicow]

When bitcoin will down?
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[JonnyB]

Was there a BSIP submitted for this proposal on github?

a) worker requests payment with bitUSD (keeping it simple is good)
b) reserve fund of BTS is used in entirety as collateral to create amount of bitUSD necessary for payouts (no fixed ratio)
c) fees set in bitUSD to pay off debt, also payable in BTS rate determined through price feed conversion that add to reserve fund collateral (no market use necessary)

if forced settling occurs for any reason, you still have BTS so nothing changes, keep borrowing to create only what's necessary

done

Hey this makes a lot of sense to me, others will argue with you.

Tricky bit would implementing it technically and getting it voted for.

[moinyoin]

Was there a BSIP submitted for this proposal on github?

a) worker requests payment with bitUSD (keeping it simple is good)
b) reserve fund of BTS is used in entirety as collateral to create amount of bitUSD necessary for payouts (no fixed ratio)
c) fees set in bitUSD to pay off debt, also payable in BTS rate determined through price feed conversion that add to reserve fund collateral (no market use necessary)

if forced settling occurs for any reason, you still have BTS so nothing changes, keep borrowing to create only what's necessary

done

[mranderson]

The more volume of anything on the DEX can only help in the long run.   Paying interest to large stake holders does work, look at what it did for Dash and their masternodes.  Keeping 75% of total supply bonded in a voluntary transparent way offers much needed comfort/trust and it really does buffer the huge sell pressure the centralized exchanges (all incentive for DEX to fail) can inflict on a newly budding BTS market bull run.

Increasing our total supply in bitUSD makes sense because it is the most well known fiat across the globe, which for 99% of the world that thinks about value with those terms we should exploit it.  We all know fiat's days are numbered, but what other platform could serve a better bridge for the masses.  I would be happy to collateralize all my BTS and increase MM in all top markets if I knew I would get a little interest on the effort and would think would even feel better about selling other crypto when I normally wouldn't.

Another option is going after other well known fiats that are not often paired with BTC like GBP.  Although with Tether starting to unravel, having bitUSD there with a big exit sign (Large liquidity) ready seems the more prudent thing at this time.

All in all the witnesses stand to benefit the most from the increase in BTS value.  So it seems logical that Witnesses could show their strong belief and support in BitShares by storing  bit***  in their account.  We as voters could start to look at things like that and adjust our votes accordingly.   The higher the BTS held on the DEX in collateral BitUSD (or whatever) means the weaker competing centralized exchange capital power has manipulating BTS.  We just need to breakthrough the liquidity threshold in several markets before the slow trickle of new users becomes a massive flood into the DEX.  The banking pressure/friction being applied to central exchanges right now is making it the perfect opportunity to work together to use one of BitShares unique features to solve a massive problem for the traders who have no interest in going back into fiat (although they really can on the DEX as well).

[logart]

taking out the leverage talk out of this thread....

What you guys think of, my idea to increase liquidity to all bit-assets. With the hard fork Original Poster was suggesting but instead of only favoring the Bitusd asset, it would favor all Bit-assets.

[yvv]

There are no inherent obstacles in bts which prevent to offer 100-300x leverage. Markets are just too shallow for this at the moment.
 

To do that though, wouldn't the committee need to drop the MCR and sqpr well below 1? That greatly​ increases the risk to the bitasset holder. It basically puts the bitasset holder in the position of the broker.

MCR=1 gives you infinite leverage. You deposit 1 USD, short it for 1 USD worth of BTS (let's ignore fees, slippage etc), borrow 1 bitUSD, short it for 1 USD worth of BTS, borrow another bitUSD, short it ... and so on infinite number of times. We don't want this to happen, that's why we have MCR > 1. But, with MCR=1.75 a safe collateral ratio is somewhere around 2x, and you don't have a leverage anymore at this CR (for 1 USD invested your can short 1 bitUSD maximum). If BTS price moves up, you still make more profit if you short bitUSD, than if you just buy and keep BTS, but this profit does not outwheight the risk you take at short position. If we want to attract shorters, we need to offer at least same leverage as poloniex offers (they require 1.4x collateral to open position (2.5x leverage) and allow it to go down all the way to 1.2x).

[lil_jay890]

If any DEV seeing this, please we need this feature, If we want mass adoption in our DEX we need to have enough liquidity for all stable fiat assets, we will never see mass adoption if we rely only on users to create BITusd or BitCNY .

In fact, I'm proposing that the BTS blockchain automatically creates and pays an equal or fixed amount of value diversified in all Bit-assets. Not just in BitUSD. That way there will be liquidity distributed among all the Bit-assets too, we want liquidity in BitGold, BitSilver, BitEUR, BitUSD, bitCNY, Bitbtc. Witnesses and workers should like the idea too because they are incentivized in diversified assets and they know that diversification is the best and recommended way to store the value of money. And if in the future the more bit-assets are added to DEX like BitCHF or BitMXN,  etc the more diversification they will get

Bitshares is really appealing for traders but traders search two main things when choosing a broker liquidity and leverage. Leverage is also important for traders in Forex because Forex currencies only move less than a cent sometimes so there's logically the need of leverage to make a profit. 100-500X leverage is needed in forex. 3-10X is only needed in cryptos because they are far more volatile.

While I agree that in order to attract traders, you need to offer leverage, I don't believe this should be offered "on chain".

In the current forex market, it's the brokers that are offering the traders leverage.  Leverage is actually a tool that they exploit to make money since they know 90% of traders who use high leverage end up blowing up their accounts. The brokers  that allow 100x leverage don't pass the clients orders to the actual market, they take the opposite side of the trade and pocket any spreads or commissions as well as all the clients cash when they blow up from over leveraging.  It's a business plan that has worked for decades.

Bitshares is not designed to act as a broker and offer leverage. Not only are the mechanics to process the leveraged trade not present, but the risk management protocol would also need to be developed. All brokers have the possibility of blowing up in extreme market conditions, and I don't believe bts should be taking those risks. Bitshares needs to continue to act as an exchange like the nasdaq, and hopefully start making money off of fees.  Let third parties come in and offer leverage off chain.

Check out bitAssets dude, they do offer you leverage right "on chain", with no broker. Yes, short position with 1.75 collateral gives you 1.33x leverage, do your math. This 1.33x can be easily increased to at least what poloniex offers by bringing MCR down to 1.4.

Sorry dude.  I was addressing the post that mentioned 100-300 times leverage and that bts is not designed to offer that. And it shouldn't be adapted to try to compete with those brokers.

You are right though, bts does offer limited leverage

There are no inherent obstacles in bts which prevent to offer 100-300x leverage. Markets are just too shallow for this at the moment.
 

To do that though, wouldn't the committee need to drop the MCR and sqpr well below 1? That greatly​ increases the risk to the bitasset holder. It basically puts the bitasset holder in the position of the broker.

[yvv]

If any DEV seeing this, please we need this feature, If we want mass adoption in our DEX we need to have enough liquidity for all stable fiat assets, we will never see mass adoption if we rely only on users to create BITusd or BitCNY .

In fact, I'm proposing that the BTS blockchain automatically creates and pays an equal or fixed amount of value diversified in all Bit-assets. Not just in BitUSD. That way there will be liquidity distributed among all the Bit-assets too, we want liquidity in BitGold, BitSilver, BitEUR, BitUSD, bitCNY, Bitbtc. Witnesses and workers should like the idea too because they are incentivized in diversified assets and they know that diversification is the best and recommended way to store the value of money. And if in the future the more bit-assets are added to DEX like BitCHF or BitMXN,  etc the more diversification they will get

Bitshares is really appealing for traders but traders search two main things when choosing a broker liquidity and leverage. Leverage is also important for traders in Forex because Forex currencies only move less than a cent sometimes so there's logically the need of leverage to make a profit. 100-500X leverage is needed in forex. 3-10X is only needed in cryptos because they are far more volatile.

While I agree that in order to attract traders, you need to offer leverage, I don't believe this should be offered "on chain".

In the current forex market, it's the brokers that are offering the traders leverage.  Leverage is actually a tool that they exploit to make money since they know 90% of traders who use high leverage end up blowing up their accounts. The brokers  that allow 100x leverage don't pass the clients orders to the actual market, they take the opposite side of the trade and pocket any spreads or commissions as well as all the clients cash when they blow up from over leveraging.  It's a business plan that has worked for decades.

Bitshares is not designed to act as a broker and offer leverage. Not only are the mechanics to process the leveraged trade not present, but the risk management protocol would also need to be developed. All brokers have the possibility of blowing up in extreme market conditions, and I don't believe bts should be taking those risks. Bitshares needs to continue to act as an exchange like the nasdaq, and hopefully start making money off of fees.  Let third parties come in and offer leverage off chain.

Check out bitAssets dude, they do offer you leverage right "on chain", with no broker. Yes, short position with 1.75 collateral gives you 1.33x leverage, do your math. This 1.33x can be easily increased to at least what poloniex offers by bringing MCR down to 1.4.

Sorry dude.  I was addressing the post that mentioned 100-300 times leverage and that bts is not designed to offer that. And it shouldn't be adapted to try to compete with those brokers.

You are right though, bts does offer limited leverage

There are no inherent obstacles in bts which prevent to offer 100-300x leverage. Markets are just too shallow for this at the moment.
 

[lil_jay890]

If any DEV seeing this, please we need this feature, If we want mass adoption in our DEX we need to have enough liquidity for all stable fiat assets, we will never see mass adoption if we rely only on users to create BITusd or BitCNY .

In fact, I'm proposing that the BTS blockchain automatically creates and pays an equal or fixed amount of value diversified in all Bit-assets. Not just in BitUSD. That way there will be liquidity distributed among all the Bit-assets too, we want liquidity in BitGold, BitSilver, BitEUR, BitUSD, bitCNY, Bitbtc. Witnesses and workers should like the idea too because they are incentivized in diversified assets and they know that diversification is the best and recommended way to store the value of money. And if in the future the more bit-assets are added to DEX like BitCHF or BitMXN,  etc the more diversification they will get

Bitshares is really appealing for traders but traders search two main things when choosing a broker liquidity and leverage. Leverage is also important for traders in Forex because Forex currencies only move less than a cent sometimes so there's logically the need of leverage to make a profit. 100-500X leverage is needed in forex. 3-10X is only needed in cryptos because they are far more volatile.

While I agree that in order to attract traders, you need to offer leverage, I don't believe this should be offered "on chain".

In the current forex market, it's the brokers that are offering the traders leverage.  Leverage is actually a tool that they exploit to make money since they know 90% of traders who use high leverage end up blowing up their accounts. The brokers  that allow 100x leverage don't pass the clients orders to the actual market, they take the opposite side of the trade and pocket any spreads or commissions as well as all the clients cash when they blow up from over leveraging.  It's a business plan that has worked for decades.

Bitshares is not designed to act as a broker and offer leverage. Not only are the mechanics to process the leveraged trade not present, but the risk management protocol would also need to be developed. All brokers have the possibility of blowing up in extreme market conditions, and I don't believe bts should be taking those risks. Bitshares needs to continue to act as an exchange like the nasdaq, and hopefully start making money off of fees.  Let third parties come in and offer leverage off chain.

Check out bitAssets dude, they do offer you leverage right "on chain", with no broker. Yes, short position with 1.75 collateral gives you 1.33x leverage, do your math. This 1.33x can be easily increased to at least what poloniex offers by bringing MCR down to 1.4.

Sorry dude.  I was addressing the post that mentioned 100-300 times leverage and that bts is not designed to offer that. And it shouldn't be adapted to try to compete with those brokers.

You are right though, bts does offer limited leverage

[paliboy]

Check out bitAssets dude, they do offer you leverage right "on chain", with no broker. Yes, short position with 1.75 collateral gives you 1.33x leverage, do your math. This 1.33x can be easily increased to at least what poloniex offers by bringing MCR down to 1.4.

What about this:

• make the platform profitable - introduce competitive fees to bitasset markets and change network/LTM fee split ratio
• decrease MCR as much as possible (in small steps)
• use reserve pool as an insurance for bankrupt accounts

[yvv]

If any DEV seeing this, please we need this feature, If we want mass adoption in our DEX we need to have enough liquidity for all stable fiat assets, we will never see mass adoption if we rely only on users to create BITusd or BitCNY .

In fact, I'm proposing that the BTS blockchain automatically creates and pays an equal or fixed amount of value diversified in all Bit-assets. Not just in BitUSD. That way there will be liquidity distributed among all the Bit-assets too, we want liquidity in BitGold, BitSilver, BitEUR, BitUSD, bitCNY, Bitbtc. Witnesses and workers should like the idea too because they are incentivized in diversified assets and they know that diversification is the best and recommended way to store the value of money. And if in the future the more bit-assets are added to DEX like BitCHF or BitMXN,  etc the more diversification they will get

Bitshares is really appealing for traders but traders search two main things when choosing a broker liquidity and leverage. Leverage is also important for traders in Forex because Forex currencies only move less than a cent sometimes so there's logically the need of leverage to make a profit. 100-500X leverage is needed in forex. 3-10X is only needed in cryptos because they are far more volatile.

While I agree that in order to attract traders, you need to offer leverage, I don't believe this should be offered "on chain".

In the current forex market, it's the brokers that are offering the traders leverage.  Leverage is actually a tool that they exploit to make money since they know 90% of traders who use high leverage end up blowing up their accounts. The brokers  that allow 100x leverage don't pass the clients orders to the actual market, they take the opposite side of the trade and pocket any spreads or commissions as well as all the clients cash when they blow up from over leveraging.  It's a business plan that has worked for decades.

Bitshares is not designed to act as a broker and offer leverage. Not only are the mechanics to process the leveraged trade not present, but the risk management protocol would also need to be developed. All brokers have the possibility of blowing up in extreme market conditions, and I don't believe bts should be taking those risks. Bitshares needs to continue to act as an exchange like the nasdaq, and hopefully start making money off of fees.  Let third parties come in and offer leverage off chain.

Check out bitAssets dude, they do offer you leverage right "on chain", with no broker. Yes, short position with 1.75 collateral gives you 1.33x leverage, do your math. This 1.33x can be easily increased to at least what poloniex offers by bringing MCR down to 1.4.

[lil_jay890]

If any DEV seeing this, please we need this feature, If we want mass adoption in our DEX we need to have enough liquidity for all stable fiat assets, we will never see mass adoption if we rely only on users to create BITusd or BitCNY .

In fact, I'm proposing that the BTS blockchain automatically creates and pays an equal or fixed amount of value diversified in all Bit-assets. Not just in BitUSD. That way there will be liquidity distributed among all the Bit-assets too, we want liquidity in BitGold, BitSilver, BitEUR, BitUSD, bitCNY, Bitbtc. Witnesses and workers should like the idea too because they are incentivized in diversified assets and they know that diversification is the best and recommended way to store the value of money. And if in the future the more bit-assets are added to DEX like BitCHF or BitMXN,  etc the more diversification they will get

Bitshares is really appealing for traders but traders search two main things when choosing a broker liquidity and leverage. Leverage is also important for traders in Forex because Forex currencies only move less than a cent sometimes so there's logically the need of leverage to make a profit. 100-500X leverage is needed in forex. 3-10X is only needed in cryptos because they are far more volatile.

While I agree that in order to attract traders, you need to offer leverage, I don't believe this should be offered "on chain".

In the current forex market, it's the brokers that are offering the traders leverage.  Leverage is actually a tool that they exploit to make money since they know 90% of traders who use high leverage end up blowing up their accounts. The brokers  that allow 100x leverage don't pass the clients orders to the actual market, they take the opposite side of the trade and pocket any spreads or commissions as well as all the clients cash when they blow up from over leveraging.  It's a business plan that has worked for decades.

Bitshares is not designed to act as a broker and offer leverage. Not only are the mechanics to process the leveraged trade not present, but the risk management protocol would also need to be developed. All brokers have the possibility of blowing up in extreme market conditions, and I don't believe bts should be taking those risks. Bitshares needs to continue to act as an exchange like the nasdaq, and hopefully start making money off of fees.  Let third parties come in and offer leverage off chain.

[xeroc]

In fact, I'm proposing that the BTS blockchain automatically creates and pays an equal or fixed amount of value diversified in all Bit-assets. Not just in BitUSD.

Read up on yield harvesting.

I simply borrow 1M BitUSD to myself, earn interest but don't provide any liquidity to the markets. No problems solved, but non-traders make a profit.
You cannot increase liquidity but paying people to borrow bitUSD and let them sit in their accounts.

[logart]

If any DEV seeing this, please we need this feature, If we want mass adoption in our DEX we need to have enough liquidity for all stable fiat assets, we will never see mass adoption if we rely only on users to create BITusd or BitCNY .

In fact, I'm proposing that the BTS blockchain automatically creates and pays an equal or fixed amount of value diversified in all Bit-assets. Not just in BitUSD. That way there will be liquidity distributed among all the Bit-assets too, we want liquidity in BitGold, BitSilver, BitEUR, BitUSD, bitCNY, Bitbtc. Witnesses and workers should like the idea too because they are incentivized in diversified assets and they know that diversification is the best and recommended way to store the value of money. And if in the future the more bit-assets are added to DEX like BitCHF or BitMXN,  etc the more diversification they will get

Bitshares is really appealing for traders but traders search two main things when choosing a broker liquidity and leverage. Leverage is also important for traders in Forex because Forex currencies only move less than a cent sometimes so there's logically the need of leverage to make a profit. 100-500X leverage is needed in forex. 3-10X is only needed in cryptos because they are far more volatile.

[llildur]

Hi i just find this https://www.alt-m.org/2017/04/06/dollar-denominated-cryptocurrencies-flops-tethered-success/    someone in bitbay claims find a new method to make the pegged automatic but don't give any details about it.