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Offline eagleeye

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Look at NXT there asset community is way ahead of ours http://coinmarketcap.com/assets/

We have 3 bitUSD, bitCNY, and bitBTC which rank 13, 15 and 19.

While NXT has many more assets.

We need to mimic NXT assets like sharkfund0 if its an actual fund.

Its true we are newer and we have 10s transactions but if NXT gets 10s transactions, we are in big sh*t

Offline bytemaster

Re: Bitshares is in a temporary bubble if we dont keep releasing new bitAssets
« Reply #1 on: September 24, 2014, 10:54:42 PM »
Hold on buddy... the value of BTSX is speculative based upon where we will be and when we will get there.

If we release BitAssets before we work out all the UI and Market Engine kinks then we make a bigger mess for ourselves. 

For the latest updates checkout my blog: http://bytemaster.bitshares.org
Anything said on these forums does not constitute an intent to create a legal obligation or contract between myself and anyone else.   These are merely my opinions and I reserve the right to change them at any time.

Offline eagleeye

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Re: Bitshares is in a temporary bubble if we dont keep releasing new bitAssets
« Reply #2 on: September 24, 2014, 10:56:00 PM »
Hold on buddy... the value of BTSX is speculative based upon where we will be and when we will get there.

If we release BitAssets before we work out all the UI and Market Engine kinks then we make a bigger mess for ourselves.

Sounds good bytemaster just keeping you on your toes.

***Added for bytemaster***

On a percentage basis (I know UI and Market Engine Dynamics take long as its C++ and not like Mysql/php (I know its for 2 different things but I am in the website business not in your C++ development software business) but are you around 15% done the upgrade right now, or in your estimation?
« Last Edit: September 24, 2014, 10:58:31 PM by eagleeye »

Offline Ander

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Re: Bitshares is in a temporary bubble if we dont keep releasing new bitAssets
« Reply #3 on: September 24, 2014, 10:59:00 PM »
I don't think we need more assets as much as we need to get to the point where the assets that do exist have higher volume, lower spread, and are strongly pegged to their respective items.

We just need bitUSD, at a market cap in the millions, and a price keeping to a range of .99 to 1.01, and then we have something very powerful. 
https://metaexchange.info | Bitcoin<->Altcoin exchange | Instant | Safe | Low spreads

Offline bytemaster

Re: Bitshares is in a temporary bubble if we dont keep releasing new bitAssets
« Reply #4 on: September 24, 2014, 10:59:03 PM »
I think we have it ready to tag... for the back end.

GUI is closer... but still buggy.

Backend is most important because that will allow me to run bots. 
For the latest updates checkout my blog: http://bytemaster.bitshares.org
Anything said on these forums does not constitute an intent to create a legal obligation or contract between myself and anyone else.   These are merely my opinions and I reserve the right to change them at any time.

Offline Ander

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Re: Bitshares is in a temporary bubble if we dont keep releasing new bitAssets
« Reply #5 on: September 24, 2014, 11:00:45 PM »

Backend is most important because that will allow me to run bots.

Any idea on the timeframe on releasing these bots?  Having bots doing market making in bitUSD will be HUGE.
https://metaexchange.info | Bitcoin<->Altcoin exchange | Instant | Safe | Low spreads

Offline GaltReport

Re: Bitshares is in a temporary bubble if we dont keep releasing new bitAssets
« Reply #6 on: September 24, 2014, 11:02:15 PM »
 +5%
Hold on buddy... the value of BTSX is speculative based upon where we will be and when we will get there.

If we release BitAssets before we work out all the UI and Market Engine kinks then we make a bigger mess for ourselves.

 +5%, please keep to this. 

Offline eagleeye

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Re: Bitshares is in a temporary bubble if we dont keep releasing new bitAssets
« Reply #7 on: September 24, 2014, 11:04:25 PM »
I think we have it ready to tag... for the back end.

GUI is closer... but still buggy.

Backend is most important because that will allow me to run bots.

Your even closer than 15% damn man.  No wonder they called you THE Bytemaster and all those awesome names.

Understandable its buggy as hell.  Hopefully you have your team of engineers and then your informal team of testers.  I know there was a post about that a while back.  But obviously your engineers, who are paid, are better testers but there should be both dynamics.

I understand backend is most important.

Your doing a great job.  Be well Bytemaster.  Just remember if your working 12 hours a day, its not fair if the other key members of your team are not.  Your being a leader and not a boss.



Be well in health Bytemaster Dan - meditation, blueberries, salmon all help in small doses.

Offline oldman

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Re: Bitshares is in a temporary bubble if we dont keep releasing new bitAssets
« Reply #8 on: September 24, 2014, 11:19:08 PM »

We just need bitUSD, at a market cap in the millions, and a price keeping to a range of .99 to 1.01, and then we have something very powerful.

This. Just this.

Offline bitmeat

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Re: Bitshares is in a temporary bubble if we dont keep releasing new bitAssets
« Reply #9 on: September 24, 2014, 11:21:49 PM »
This AND liquidity. See my post in the other thread.

A person/entity holding $15M in BTC is not going to hedge using BitUSD unless they see there is good liquidity as well.

Tracking "how well the peg works" needs to take into account spread at different market depth. I'd be curious to see charts for liquidity of $1k,$10k etc

Offline tonyk

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Re: Bitshares is in a temporary bubble if we dont keep releasing new bitAssets
« Reply #10 on: September 25, 2014, 12:52:22 AM »

Backend is most important because that will allow me to run bots.

Any idea on the timeframe on releasing these bots?  Having bots doing market making in bitUSD will be HUGE.

The bot itself is ready as far as I can tell. It actually ran for a period of time, I believe.
Lack of arbitrage is the problem, isn't it. And this 'should' solves it.

Offline CoinHoarder

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Re: Bitshares is in a temporary bubble if we dont keep releasing new bitAssets
« Reply #11 on: September 25, 2014, 01:56:50 AM »
+1 to fixing bugs before creating new assets. I read somewhere BM suggested we could start opening new markets after this latest update to 0.4.17 so now I am publishing all feeds. I was holding off as per BM's advice to do so. I think now that BM gave us the go ahead new markets will start trading as soon as the feeds and market depth are there.

Offline tonyk

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Re: Bitshares is in a temporary bubble if we dont keep releasing new bitAssets
« Reply #12 on: September 25, 2014, 04:03:25 AM »
+1 to fixing bugs before creating new assets. I read somewhere BM suggested we could start opening new markets after this latest update to 0.4.17 so now I am publishing all feeds. I was holding off as per BM's advice to do so. I think now that BM gave us the go ahead new markets will start trading as soon as the feeds and market depth are there.

I will second some opinions in this thread.

For BTSX to  go to well beyond moon and to approach the outer limits of the solar system we need just one asset working...
Lack of arbitrage is the problem, isn't it. And this 'should' solves it.

Offline Riverhead

Re: Bitshares is in a temporary bubble if we dont keep releasing new bitAssets
« Reply #13 on: September 25, 2014, 05:24:18 AM »
Bots are where it's at. Whether in this market, BTER, or the NYSE. While individuals make trades to try and further their position the real market liquidity comes from automated trading.

I have written a really basic bot to run alongside I3's Market Maker bot (once my pull request is rolled in). The point being that I am at best an average programmer and can get a bot up and running. There's no reason that those with a better understanding of market mechanics can't team up with a bot writer to create some really complex and meaningful bots.

Offline tonyk

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Re: Bitshares is in a temporary bubble if we dont keep releasing new bitAssets
« Reply #14 on: September 25, 2014, 05:30:33 AM »
Bots are where it's at. Whether in this market, BTER, or the NYSE. While individuals make trades to try and further their position the real market liquidity comes from automated trading.

I have written a really basic bot to run alongside I3's Market Maker bot (once my pull request is rolled in). The point being that I am at best an average programmer and can get a bot up and running. There's no reason that those with a better understanding of market mechanics can't team up with a bot writer to create some really complex and meaningful bots.

If you are an 'average' programmer, I should be with 'below average'  understanding of market mechanics... even with those disadvantages, I dare to propose a cooperation in creating some market and speculation bots for everybody's benefit...
Lack of arbitrage is the problem, isn't it. And this 'should' solves it.

 

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