BitUSD Yield (aka Interest) Scheduled for Launch Wednesday

[Chuckone]

There needs to be no minimum amount of time needed for funds being held to receive interest.  If interest is always accruing then traders will flock like geese to these markets


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Surely its a bit obscure to reciceve interest after 1 day/ Otherwise id come in with a million - get my % and go away.

If I understood the concept correctly, yep, you would get a % of the tx fees, which mean getting a million in bitUSD for a day would only give you a bigger slice of a fixed pie (total amount of fees allocated to "interests" during that day). Basically, the interest for a day would be very low (percentage wise compared to your investment)

[bitbro]

There needs to be no minimum amount of time needed for funds being held to receive interest.  If interest is always accruing then traders will flock like geese to these markets


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Surely its a bit obscure to reciceve interest after 1 day/ Otherwise id come in with a million - get my % and go away.

the system should incentivize you to stay longer.  I only meant that there should at least be some smaller incentive nearly off the bat... Advertisement purposes...


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[serejandmyself]

There needs to be no minimum amount of time needed for funds being held to receive interest.  If interest is always accruing then traders will flock like geese to these markets


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Surely its a bit obscure to reciceve interest after 1 day/ Otherwise id come in with a million - get my % and go away.

[Method-X]

There needs to be no minimum amount of time needed for funds being held to receive interest.  If interest is always accruing then traders will flock like geese to these markets


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  Make money even when you "move to fiat".

However, there may be some issue with this we don't understand.

[xeroc]

I am trying to figure out the fee flow for a quick info graphic ..

Is this about right? What am I missing? Suggestions?

Its for now just the flow .. I will make it more 'pretty'

[Riverhead]

There needs to be no minimum amount of time needed for funds being held to receive interest.  If interest is always accruing then traders will flock like geese to these markets

Agreed. The account owner just needs to decide when it's worth spending a transaction fee to harvest.

[bitbro]

There needs to be no minimum amount of time needed for funds being held to receive interest.  If interest is always accruing then traders will flock like geese to these markets


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[theoretical]

Back to the main topic:  Is interest still scheduled to launch tomorrow?  Has interest been tested yet on any dry run / testnet?

[xeroc]

eagerly awaiting LARIMERS on BitSharesME

[TanFan]

Than in true open source style it could be a "DAN" = "Decentralized Autonomous DAN"

Decentralized Autonomous Network

Hmm.  So many expansions. Makes me start to prefer "Larimer"  as atomic unit of BTSX. It's a name you don't hear that much so there's no confusion what you're talking about.

Good point Riverhead.  Using "DAN" may be a little to "cute/clever" whereas "Larimer" is unique and therefore may create a memorable link between BM and perhaps one day the world's #1 crypto-currency.  BM may become as well known as a Gates, Jobs, and Satoshi and that name last recognition may drive adoption AND obviously Dan has earned has name on that atomic unit designation...IMHO.  "DAN" also works well ...tough call.

[theoretical]

No, we cannot use floating point because it is not deterministic.

Using floating-point is a big no-no in the contexts of:

- Accounting computations on anything remotely resembling money
- Requiring multiple network nodes to maintain consistent state by doing the same computations independently

Floating point may give different answers on different machines, or with different compilers, compiler settings, or compiler versions.  I found out that we already support two compilers when I had a patch reverted due to a compiler bug in one of them (see https://github.com/BitShares/bitshares_toolkit/issues/738 ).

[bytemaster]

bugger, I meant to post this here.

https://bitsharestalk.org/index.php?topic=8500.msg111203#msg111203

Going short/long at the same time is equivalent to holding BTSX with an option to double your stake at todays prices at any time.

I don't think this is true.  The second half of this 'double stake' was spent in the initial trade to purchase the bitUSD to balance the short.

Please correct me if I'm wrong.

I was wrong in my analysis of that position...   it only gains you a share of the rewards on BitAssets while still being effectively LONG btsx.

[Xeldal]

bugger, I meant to post this here.

https://bitsharestalk.org/index.php?topic=8500.msg111203#msg111203

Going short/long at the same time is equivalent to holding BTSX with an option to double your stake at todays prices at any time.

I don't think this is true.  The second half of this 'double stake' was spent in the initial trade to purchase the bitUSD to balance the short.

Please correct me if I'm wrong.

[maqifrnswa]

Think this is really interesting, probably will work out very well for the whole system

What was the original plan to do with fees collected that were denominated in bitAssets? Does this essentially take fees away from BTSX but potentially increase transaction volume of BTSX (thus increasing total btsx fees)? I think that's a great trade off if so, but just want to see if that I an accurate description of the situation. It seems like it's shifting some btsx yield into bitasset yield in order to improve the system as a whole.

[Riverhead]

Than in true open source style it could be a "DAN" = "Decentralized Autonomous DAN"

Decentralized Autonomous Network

Hmm.  So many expansions. Makes me start to prefer "Larimer"  as atomic unit of BTSX. It's a name you don't hear that much so there's no confusion what you're talking about.