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Messages - cylonmaker2053

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166
General Discussion / Re: Potential BitShares Road Map for 2016
« on: March 02, 2016, 12:33:45 am »
Bitcoin sidechain means trading real BTC on the DEX.  Surely you see the incredible implications of that.  Then imagine adding robust BitUSD, BitCNY and BitEUR markets so people can trade their BTC in and out of fiat in a decentralized manner.  That's just the beginning.

As for paying yield to those who create BitAssets, @bytemaster mentioned on the last mumble that he likes the idea of paying people to lock up their BTS but that it's much more helpful if they take the next step and provide liquidity.  That's why I'm suggesting a small yield paid by the reserve pool for getting people to move funds to the DEX and create BitAssets in the first place, thereby jumpstarting activity on the DEX and making us the world's crypto fiat leader....and then using another small amount of funds from the reserve pool to incentivize a subset of the BitAsset creators to participate in a liquidity pool.  The cost is neutral to those creating BitAssets.  Actually, considering the great benefits, everyone including those not creating BitAssets should gain due to a rising BTS price.  All things considered, it seems like such a no-brainer to try this.

i can def see big value in bringing BTC and other cryptocurrencies directly into our DEX. kinda defeats the purpose of trading bitBTC then, but actual BTC would have more value than the synthetic version.

what is the reserve pool anyway? i've heard it referenced repeatedly, but how much is it, how was it accumulated, and who controls it? 

167
General Discussion / Re: Potential BitShares Road Map for 2016
« on: March 01, 2016, 11:26:04 pm »
I think the bond market (i.e. margin trading) is important. But I agree with @Erlich Bachman, implementing sidechains is much more fundamental to our success i.e. more of a game-changer  If possible, I would also personally contribute to helping fund it ASAP.

I would also place a high level of priority on liquidity measures.  @abit is already working on a way to track market maker contribution to liquidity by market, which will help all assets including UIAs.  But I think BitAssets will need something more in addition.  I am very much in favor of @Empirical1.2's yield idea to achieve 3 things: 1) get people's funds onto the DEX and 2) immediately make us the world's pegged fiat leader, all by offering perhaps 1% yield for creating BitUSD, BitCNY and ButEUR and 3) incentivize participation in a liquidity pool for those same BitAssets by offering perhaps another 1% (plus market making profits) to be split among the participants of the pool.  I believe these measures will have a significant impact and will take FAR less development time than it will realistically take to complete a bond market.

why are sidechains so critical for our success?

how would the 1% (or whatever %) be paid to those who borrow smartcoins? taken from fees in each respective market? if so, i'd support something like that and go one step further and not place a specific % yield on any asset; i'd recommend setting a % split from fees collected in each respective market. that way we're really supporting liquidity by rewarding short sellers more as transaction frequency increases, and the payment stream is robust to changing market conditions ...if transactions fall, so do payouts without breaking any other funding source.

168
who knows? last time ETH jumped to about $6.50 i sold some and bought BTS, but i'm already biased towards Bitshares. IMO any cryptocurrency success is long term great for us, since it gets more money and people into the space. i do believe in some sort of crypto wealth effect --you make a killing in one and you start to shop around for another to park some of the profits. 

169
General Discussion / Re: Ethereum price discussion
« on: March 01, 2016, 08:40:24 pm »
...this is depressing

naw, the more capital in cryptocurrencies, the better off we'll be in time.
Yhea .. moving stuff over to bts is quite simple and we only need to educate people and create some buzz ..

Also, with the rather thin markets .. only little volume is needed to boost the bts price big time ..

yup and i think only a matter of time. every successful crypto project, whether bitcoin, ethereum, or whatever, boosts our credibility by association. Ethereum is exploding on the smart contracts thing, but we also do it with our MPAs in a smaller, but still very clever way. there should definitely be spillover effects that benefit us.

It's not only about getting a pump like others. BitShares should be recognized as a big player in the industry. That would actually support it and get more people interested. It isn't, hence our current situation.

A simple pump and riding the wave means nothing for a solid future.

i agree and didn't mean to imply i'm excited about some future pump to our share price. i'm looking forward to the first few hedge funds, finance companies, and small businesses using our platform; in other words, it becoming big time :)

170
General Discussion / Re: Potential BitShares Road Map for 2016
« on: March 01, 2016, 06:59:28 pm »
I am in favour of anything that strengthens the DEX though as I anticipate the SmartCoin leader could easily be the overall crypto market leader in a few years.

The world is looking for a decentralized place to store the value of USD/Gold/Other that won't have negative interest rates/bail-ins/capital controls/KYC etc.

There has never been a greater time in the history of the world for what the DEX & SmartCoins can potentially offer.

So liquidity subsidy, yield subsidy (Self funding), bond market, sidechains, get BTS SmartCoins to market leader position now and stay there.

well said, i agree. We already have products that the world doesn't yet know it needs, so i support any effect that goes towards making the products better, more readily available, and the DEX more efficient.

171
General Discussion / Re: Ethereum price discussion
« on: March 01, 2016, 06:56:57 pm »
...this is depressing

naw, the more capital in cryptocurrencies, the better off we'll be in time.
Yhea .. moving stuff over to bts is quite simple and we only need to educate people and create some buzz ..

Also, with the rather thin markets .. only little volume is needed to boost the bts price big time ..

yup and i think only a matter of time. every successful crypto project, whether bitcoin, ethereum, or whatever, boosts our credibility by association. Ethereum is exploding on the smart contracts thing, but we also do it with our MPAs in a smaller, but still very clever way. there should definitely be spillover effects that benefit us.

172
General Discussion / Re: Ethereum price discussion
« on: March 01, 2016, 04:58:19 pm »
...this is depressing

naw, the more capital in cryptocurrencies, the better off we'll be in time.

173
Technical Support / Re: Status on Bitshares ShapeShift
« on: March 01, 2016, 03:13:53 pm »
and in the meantime...

blocktrades.us

174
General Discussion / Re: Marketing plan for Bitshares 2.1
« on: March 01, 2016, 03:11:18 pm »
i'd like to see this community more active on Twitter. building a presence there will help us interact more frequently with traders, crypto enthusiasts, and the over-hyped (but active) fintech crowd. 

175

Was great to see some new faces and to have some action on the dex. Looking forward to the next...

Thank you @JonnyBitcoin for organizing this event and thank you to everyone that showed up. This is truly an amazing platform we have here.

yes, we have an amazing platform. i'd like to add that a big way to support the platform is to use some of your excess BTS to borrow some of the key smartcoins into existence and put them up for sale on the DEX. any kind of trading is obviously good for the DEX, but the fundamental nature of our liquidity comes from first borrowing smartcoins into existence. our markets tend to have more buy side demand than sell side supply, so contributing to the supply would be most beneficial.


176
General Discussion / Re: How to improve voting participation.
« on: March 01, 2016, 03:04:25 pm »
recently we talked with @JonnyBitcoin on slack... about the idea, to interview each person, every time when new worker proposal will be made. This could be organize in the form of public hangout with questions from host of the program and from audience.

that's a good idea and would certainly boost marketing for worker proposals. i think a standardized worker platform page linked to from the voting section of the OL wallet would be great. nothing too detailed, but more like a political platform sort of thing in case people want to delegate proxies to people who share similar ideology for where Bitshares should go, rather than get into the weeds with proposal details.

177
General Discussion / Re: How to improve voting participation.
« on: March 01, 2016, 03:08:15 am »
One reason i only recently started voting is bc i didn't really understand the different work proposals that were out there. Better descriptions, sort of advertisements from the workers, in the wallet voting section would be easier to follow, maybe get more people excited to vote. Proxies could be our version of politicians :)

178
my final orders placed for the night, heading to bed. to our Chinese partners, it's your turn!

179
too bad that couldn't be maintained.

Why not? Actually I am going to keep most of my open orders :)

I think today went well.

theres still lots of depth on usd:btc

Yeah... this could give us additional information, how long Liquidity Event Effect could last. We will see. Maybe, even longer than we expecting right now? :)

ah, i just meant the tight spread being maintained specifically this afternoon when it widened. for sure we can keep up the volume and continue converging the spread...that's definitely my intention every day :)

180
yes, absolutely, i'm interested! Depending on date/time, i may have to refer to the recorded version. I'm interested in python interfaces with Bitshares and the DEX; especially interested in trade bots!

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