[worker] Python-steem and uptick (1.14.52)

[xeroc]

updated the faucet code for the testnet to run on the new library. This is a worker/background process donates TEST tokens to every newly created account (even if you create it):

Code Select Expand


import yaml
from pprint import pprint
from bitshares import BitShares
from bitshares.account import Account
from bitshares.blockchain import Blockchain

config = yaml.load(open("config.yml").read())

bitshares = BitShares(
    "wss://node.testnet.bitshares.eu",
    keys=[config["wif"]],
    nobroadcast=False
)


def run(begin=None, end=None):

    blockchain = Blockchain(
        mode="head",
        bitshares_instance=bitshares
    )

    for op in blockchain.stream(
        opNames=["account_create"],
        start=int(begin) if begin else None,
        stop=int(end) if end else None,
    ):
        try:
            pprint(bitshares.transfer(
                op["op"][1]["name"],
                config["donation_amount"], config["donation_asset"],
                account=config["registrar"]
            ))
        except Exception as e:
            log.error(str(e))
            pass


if __name__ == '__main__':
    run()


[xeroc]

I see one flaw. Collective account income isn't specified. Are they working for free? I would give them 10% of savings that they made, or better to say: if. Fair offer.
Your idea is amazing btw.

The original plan was to get the BitShares foundation bootstrapped by offering this as a service for a fee. But due to some time-delaying issues they couldn't make it til now. Hoping to find a way to do this for a subsequent worker.

[nmywn]

It is going to be exactly like @Geneko described it.
The only thing that is not yet clear to me from the procedure, is
* Should a collective account be used to borrow bitUSD instead of spreading shareholder-owned collateral to multiple accounts?
* Should the account's permissions be set to be committee owned after the expiration, or should it be re-useable?

I personally, prefer to send BTS to a separate account that holds the collateral position and sends back the bitUSD. This makes accounting easier but requires another multisig group to organize and maintain the collateral.

I see one flaw. Collective account income isn't specified. Are they working for free? I would give them 10% of savings that they made, or better to say: if. Fair offer.
Your idea is amazing btw.

[xeroc]

First of all, thanks for the support!

I would love to read more about trading part. For now I see one simple scheme.

1. Multisig borrow USD and send to worker.
2. next day worker make sell order 5% above feed at USD:BTS
3. Multisig fill worker orders and send USD to worker again.
5.Repeat

If this is the case, why 5%?

It is going to be exactly like @Geneko described it.
The only thing that is not yet clear to me from the procedure, is
* Should a collective account be used to borrow bitUSD instead of spreading shareholder-owned collateral to multiple accounts?
* Should the account's permissions be set to be committee owned after the expiration, or should it be re-useable?

I personally, prefer to send BTS to a separate account that holds the collateral position and sends back the bitUSD. This makes accounting easier but requires another multisig group to organize and maintain the collateral.

We also support this worker proposal. I am looking forward to creating more dev tools for the community. Please also add an extended documentation to the tool so that new devs can get started easily.

Short question:

- How much time will you dedicate for this worker and BitShares?
4,000 euro a month sounds like a full-time worker for 3 months.

- Are you also working on further steemit related projects?

Thanks for the support, chris!
The worker is based on milestones. So you get all milestones fulfilled for 3 months * 4000$/mth =12k$
The amount of time I need to put into it depends on how fast I can bring it on and how many problems I run into it.
In the end, this way is in favor for BTS holders and makes it more risky for me .. but I am pretty confident I can deliver in time :)

I also have commitments with some Steem projects. No commitments so far for Steemit Inc.

Actually, there is no need to put 2.5x collateral. If there are no offers between feed and SQP price, borrow bitUSD with minimum (1.75x) collateral and let it be margin called as soon as an offer appears between feed and SQP.

Depends. Margin Calls can force you to pay up to 10% above the feed while if you maintain collateral, you can just to partially close your position at lower premium.
Given that the shareholders (on paper) pay with more dilution for this worker already, I don't think it's fair to also ask them to pay for margin calls. Hence, 2.5x collateral.
Makes sense?

https://bitsharestalk.org/index.php/topic,23698.0.html

20 hours per week，1600 USD a month，Just want to compare.

and，The job will take ten months to finish？

I think you hold the BTS appreciation is expected to pay part of the wage.

The referred worker has a backing of BTS-munich while I am an independent developer. If someone is willing to top this up, we can negotiate something new after this worker has ended.

[wao]

https://bitsharestalk.org/index.php/topic,23698.0.html

20 hours per week，1600 USD a month，Just want to compare.

and，The job will take ten months to finish？

I think you hold the BTS appreciation is expected to pay part of the wage.

[yvv]

Actually, there is no need to put 2.5x collateral. If there are no offers between feed and SQP price, borrow bitUSD with minimum (1.75x) collateral and let it be margin called as soon as an offer appears between feed and SQP.

[Chris4210]

We also support this worker proposal. I am looking forward to creating more dev tools for the community. Please also add an extended documentation to the tool so that new devs can get started easily.

Short question:

- How much time will you dedicate for this worker and BitShares?
4,000 euro a month sounds like a full-time worker for 3 months.

- Are you also working on further steemit related projects?

[cass]

voted

[BunkerChainLabs-DataSecurityNode]

Proposed worker 1.14.52 has been approved by proxy bunkerchainlabs-com

[Geneko]

I understood it this way:

1. Multisig try to buy bitUSD 5% above feed. If it cant buy enough rest of bitUSD is going to borrow providing 2.5times collateral (Total budget for that operation is 90000BTS/day). BTS used for collateral never leaves multisig account.
2. Multisig send bitUSD to Xeroc.
3.  Xeroc use bitUSD as he likes (sell on whatever market he likes adding liquidity)
4. Every thing that is not paid out after the end of the worker will be settled and returned to the reserve fund
5. Everything left and held as collateral will be maintained by the committee and kept in full by the BitShares shareholders

[nmywn]

I would love to read more about trading part. For now I see one simple scheme.

1. Multisig borrow USD and send to worker.
2. next day worker make sell order 5% above feed at USD:BTS
3. Multisig fill worker orders and send USD to worker again.
5.Repeat

If this is the case, why 5%?

[Geneko]

@JonnyBitcoin
Excellent test bed for adding bitUSD liquidity!!

[$bkt]

This endeavor has the power to make Bitshares great again! We as Bitkapital support this proposal to the fullest extent.

[Fox]

This worker proposal will provide value to the BitShares network. I support this effort.

[xeroc]

voting.

Thanks! Your support is much appreciated!