Guys I think we all need to take a deep breath, a step back and reassess a couple of things if we ever want our bts investment to succeed..
The interest may come from the transaction fee of the whole system? though it is negligible.
This as you say is neglidible and doesn't make sense to increase the transaction fees of the system just so we can pay interest to bitasset holders. Transaction fees need to stay the lowest in the market and should only be as low as to keep for antispam and nothing more at least at this stage.
If we view bts as an exchange company, then we need to make profit from market ordering like 0.1% of the order amount just like most exchanges do. We can get both bitasset and bts from market transaction which can be put in interest pool and distribute like in bts 0.x (where you get interest when you move your bitasset).
If we view bts as an exchange company, then we need to make profit from market ordering like 0.1% of the order amount just like most exchanges do. We can get both bitasset and bts from market transaction which can be put in interest pool and distribute like in bts 0.x (where you get interest when you move your bitasset).
^^ This... I am not a fan of interest.. I know some are.. but in the way it is handled in bitshares it makes no sense to just give it away unless it is something that is build. Banks pay interest on term deposits because they are making multiples on it.. in the blockchain its going nowhere and not really being put to work to provide value that can even justify that interest payment.. it's almost like a tax.
I would prefer to see something where activities that benefits the network in turn will benefit the user.
I don't want to put labels on bitshares. Others see it as an exchange, others like a secure bank. We need to reward the depositors with interest. Bond market is a way or something that gives interest in the form of bts if you hold your bts in the DEX. But apparently this is something more difficult, requires more work and is something for the future. We need to do something NOW!
Let me put some numbers out: With only 25,000 bts daily from the pool we can buy daily c$115 worth of Open.btc, open.eur, open.usd, open.btc and distribute this Open.xxx assets to the holders according to their bit.xxx balance. Do you guys realise that this is an annual 10% interest on the c$400,000 total current supply of bitassets?
Don't you realize the huge marketing opportunity to advertise that people holding bit.xxx will receive 10% interest on their daily balance in the form of Open.xxx asset which is easily converted 1:1 to fiat (minus fees) or to btc or polo.btc or whatever they want?
We are talking about $115 dollars daily worth of bitshares to give 10% interest on bitasset holders!! How on earth this poses any risk for bitshares? That we have spent $40,000 worth of bitshares during a period of 1 year from the pool reserves?? Come on now...
I agree with many of you that shorters don't have incentives as well. But the reason is that currently due to low liquidity they risk their bts collateral to get margin called.
If we give 10% deposit to bitasset holders, demand for bitassets will increase, liquidity will increase, bts price will increase, shorters will benefit from the increased liquidity and increased bts price..Increase in bts price will drive back more devs to come back and do worker proposals in bts. Everyone benefits and we have created value for the system by giving back a very very small portion from the pool reserves to people that want to hold bitassets. There is no way bts is worth ever $100 mil market cap with only $400k bitassets in existence.
I don't understand why you oppose to just try this for 1 year and see what happens. And I will repeat my self. We do this with only a daily 25,000 bts budget from the pool...
By the way I don't own a single bitasset so I have nothing to personally gain from this. at least directly since indirectly all the bts holders will benefit. The way the situation is I can't find any reason to hold any bitasset or to engage my self in shorting especially since I have been margin called in the past due to low liquidity.
Let's try this please.Someone please put a proposal with the technical know how. We have nothing to lose (ok maybe $40k worth of bts within a year from the pool) and A LOT TO GAIN!