Author Topic: Low Hanging Fruit - Increasing BTSX Revenue & Utility  (Read 3886 times)

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Offline xeroc

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Wow .. what a list .. I will get back to you as soon as I have 10 minutes time to read all this!

  • Weather derivatives (lol?)
lol ...

Offline CoinHoarder

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Nice list!

 +5%

Thanks. I've seen a lot of discussion as to marketing and thus increasing market cap via adoption, but not so many on ways to increase profitability of the BTSX DAC itself. I think there is a lot of untapped potential that would be pretty trivial for BTSX to implement. It would also help with marketing and adoption by enlarging the demographics of users BTSX can go after and increasing the ability for users to diversify their portfolios. Attracting the more institutional-sized and professional traders would be huge as this is really where most of the money is at in derivatives. If we could get even just a fraction of that money in BTSX, it has the potential to easily surpass Bitcoin in terms of market cap and thus break Bitcoin's network effect.
« Last Edit: October 10, 2014, 07:00:36 am by CoinHoarder »
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Offline CoinHoarder

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I am interested in discussing ways to increase the demand for BTSX and also the profitability of the DAC at the same time. Here is what I see as the "low hanging fruit", or in other words.. targets or goals which are easily achievable and which do not require a lot of effort. Let's get a large piece of an $81 trillion+ derivative market!!! Why stop short at FIAT currencies, a few cryptocurrencies, and a few commodities? BTSX has the potential to be so much more than what it exists as today, and make share holders filthy rich in the meantime. :D

I'd like to see more discussions as to the future of BTSX... not as in marketing as we are doing plenty of that... but the future services BTSX will supply as in what derivatives can BTSX easily expand its business model to, and the specific derivative markets BTSX plans to go after. What is your vision for the future of BTSX? The clock is ticking and people are cornering cryptocurrency services and markets left and right. A centralized service for equity derivative investments via Bitcoin popped up just the other day.... we can beat them as we are not a centralized service... if we move on this quickishly (I know I made up that word!) It is time to plan how to expand our footprint, bring in new users through creating new Bitassets, allowing for more diversification of one's portfolio, and making the BTSX DAC more profitable!

  • Get the remaining bitAsset markets that have yet to go live up and trading.
    • This can be easily be done by delegates publishing all of the price feeds and achieving proper market depth in each of the markets. There are many bitAsset markets that have already been created but are not live.
    • Getting these markets live should be a priority for the BTSX DAC as it will increase the ability to diversify and utility, possibly bring in more users, and increase profits for the DAC through added transaction fees.
    • Getting the wallet & wiki translated into different languages could the help adoption rate for each nation's currency (FIAT) that BTSX supports. BTSX can then be heavily marketed in the countries whose currencies it supports as a non-volatile alternative to Bitcoin.
  • Creating other bitAssets (or derivatives.)
    • Currently the bitAssets that are trading, or are planned to go live soon are as follows. Along with my suggestions of bitAssets that should be added to the list.
    • Adding more bitAssets increases the utility of BTSX by allowing users to diversify their portfolios even more so, it has the potential to bring in more speculators whom are interested in investing in different types of derivatives that BTSX is not currently planning on supporting, and thus increases the profitability of the BTSX DAC through added transfer fees from the extra trading.
    • FIAT
      • AUD - Australian Dollar
      • CAD - Canadian Dollar
      • CHF - Swiss Franc
      • CNY - Chinese Yuan
      • EUR - Euro
      • GBP - British Pound
      • HKD - Hong Kong Dollar
      • JPY - Japanese Yen
      • MXN - Mexican Peso
      • NZD - New Zealand Dollar
      • RUB - Russian Ruble
      • SEK - Swedish Krona
      • SGD - Singapore Dollar
      • TRY - Turkish Lira
      • USD - US Dollar
      • Recommended:
        • I feel like BTSX already has a vast array of FIAT derivatives and I do not see the need for expanding upon them at this point in time.
    • Cryptocurrencies
      • BTC - Bitcoin
      • LTC - Litecoin
      • PPC - Peercoin
      • PTS - Protoshares
      • Recommended:
        • I think the amount of cryptocurrency bitAssets could be expanded upon. Currently there are some high volume and high market cap cryptocurrencies that we are not capitalizing on. I suggest at the very least adding the following popular coins, which are in order in terms of trade volume (IE. which ones would be more likely to be traded in higher volume = higher revenue cryptocurrencies in terms of transaction fees collected by the DAC.)
        • Dogecoin - 5th in Market Cap and $561,793 volume in the past 24 hours - The thorn in the side of innovative cryptocurrencies. The one and probably only crytocoin that will be able to survive based simply on copy and paste code and a meme.
        • Ripple - 2nd in Market Cap and $187,750 volume in the past 24 hours - A lot of venture capital and partners in the banking industry. Regardless if people like the original distribution, it is innovative  and that is why it sits atop the Market Cap list. I think Stellar is unlikely to be able to compete due to the resources and partners of Ripple and the network effect they have achieved in that crypto sphere.
        • Counterparty - 10th in Market Cap and $138,946 volume in the past 24 hours - The most popular asset issuance cryptocurrency built on top of the Bitcoin blockchain. The recent announcement of Overstock working with the developers and Counterparty seems promising.
        • Darkcoin - 8th in Market Cap and $122,550 volume in the past 24 hours - Admittedly this is the only one on the list I'm not to keen on, but it has a lot of volume and support judging from its market cap. It is built for anonymous transactions via a variation of a "coin join" implementation.
        • Nxt - 6th in Market Cap and $118,146 volume in the past 24 hours - I think we mostly agree they are a good contender in the "cryptocoin 2.0" wars through their innovative approach and will to embrace innovation.
        • Namecoin - 9th in Market Cap and $118,056 volume in the past 24 hours - I know we have a DAC that will be competing with Namecoin, but they are branching off into other areas other than decentralized namespaces, they are the oldest (living) merge mined coin to Bitcoin, and they have decent trading volume.
        • Anoncoin - 21st in Market Cap and $100,254 volume in the past 24 hours - It seems it is eminent that Anoncoin will shortly be the first cryptocurrency to implement Zerocoin technology for anonymous transactions, thus it is the reason for the increased volume as of late. If they successfully do so it could stick around for quite some time at the top of the market cap boards with decent volume.
        • Monero - 12th in Market Cap and $68,123 volume in the past 24 hours - Monero is probably the best anonymous cryptocurrency that currently exists through the use of ring signatures.
    • Commodities
      • GLD - Gold
      • SLV - Silver
      • WTI - Light Sweet Crude Oil
      • Recommendations:
        • I think we should seriously consider adding more commodity derivatives onto the exchange. Allowing users to diversify and trade to their heart's content, possibly bringing in larger (more institutional-sized) commodity traders, and increasing profits from the DAC through more transaction fees. I would like to see BitsharesX become a full-on "one stop shop" for cryptocurrency derivatives, including different types of commodities, which will ultimately make the DAC more profitable. The following commodities have much higher volume and liquidity than the rest of the other commodities in real world markets, ranked from highest to lowest.
        • Heating Oil
        • Sugar
        • RBOB Gasoline
        • Corn
        • Wheat
        • Soybeans
        • Copper
        • Soybean Oil
        • Cotton
        • Cocoa
    • Equities and other derivatives
      • Equities and other derivatives are one thing that have not been discussed much, but I see them as a "no brainer" to be added to the BTSX bitasset exchange. To my knowledge there are no plans to add them.
      • Companies are entering the Bitcoin space for this very purpose, but they are centralized so we have an advantage. It would be trivial for delegates to add some equity derivatives to their price feeds and BTSX start trading them as the software for them is already developed. I think we should do so sooner rather than later so that we can corner the market before the centralized (or future decentralized) competition gains a network effect. This allows users to further diversify their portfolios, possibly attracts stock market traders, and thus increases profits for the via the added transaction fees.
      • Composite Market Equities - Dow, Nasdaq, Standard & Poor, Etc.. other world markets
      • Individual blue chip stock behemoths (perhaps a diverse portfolio of the largest companies in the S&P 500)
      • Mutual Funds
      • Bonds and Interest Rates
      • Weather derivatives (lol?)
      • Options - Would require programming the market to allow them so not feasible in the near term.
      • Off the wall idea: Sports betting "spreads". They are like a derivative in that they start out each week as one thing and then slightly shift depending on which sides everyone takes. Admittedly this would take quite a bit of programming, but I thought I would mention it.. people could take positions on which way the lines will move each week, and positions would be forced to close before each game. Furthermore, I thought a sports betting DAC would be pretty trivial to setup as there are many sports betting line feeds that delegates could publish easily.
      • Sports Ticket Derivatives http://en.wikipedia.org/wiki/Sports_ticket_derivative
      • Think outside of the box! There can be derivatives for a lot of things that there aren't currently.. I am sure I am missing a few. I have read of a service that sold equity derivatives in professional athletes (I'm not kidding!)
« Last Edit: October 10, 2014, 08:12:08 pm by CoinHoarder »
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