I don't get it... Why everyone is talking about dumping bts after the peerplays snapshot? We are talking about 5% of peerplays allocation to bts. The amount is really just symbolic. People can buy peerplays now.

I think that the peerplay snapshot helps bts price slightly because bts are withdrawn from external exchanges and some more trading may happen in the DEX but other than that nothing more. And after the snapshot period, the worst that should happen is that people return their bts in external exchanges and trade there as they used to be.

But why dumping bts after the snapshot? That implies that the whole value of bts is only based on the value of peerplay. Are people so insane?

I think it is between 1 - 16 Sept at a random time but you need to have your bts in your wallet and not in any exchange (which everyone should be doing so anyway if we want bts to increase in value). That decision from peerplays is music in my ears.. to peerplays!

http://www.peerplays.com/news/bts-snapshot-date/

Quote from: mf-tzo on August 12, 2016, 10:25:23 am

... and distribute 10% daily interest the next day on the previous day balance at a specific or random time

You probably meant 10% yearly interest, that is what you use in your calculations.

Why 10%? Can't we achieve the same effect with 5% or 3% interest? Can you provide script that would calculate the amounts to be paid?

Yes correct I meant 10% yearly interest. No I have no idea how to do this. My IT skills are limited to excel hence my calculations which were calculated based on feed prices from cryptofresh at the specific time when i run the numbers to give you an example. I am sure that someone can produce the script needed for something like this. If I did that in excel I assume that this should be very easy to implement with a script. People have done so much more complicated things in bitshares than that..


I think we need to create a buzz that is why I said 10%. If people indeed want to hold bitassets and bitassets supply is increased then the interest rate will be reduced according to the supply so not to exceed our daily budget and vice versa taking into account also the bts price.

So essentially assuming same bts price if the bitassets supply doubles then the interest will be 5%. If this has the negative effect (which I doubt) and bitassets supply is reduced in half then the remaining bitasset holders will receive 20% interest.

If the bts price doubles vs. the bitassets then with the 30,000 we will buy more bitassets to distribute and the bitasset holders receive 20% interest and vice versa.

So since the reality will be the combination of all the above the script needs to make all these calculations at a specific random time per day and distribute accordingly the next day.

Doesn't anyone with the know how want to step in and implement this?

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).

Quote from: zhangweis on August 11, 2016, 05:49:34 am

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!

Guys, I just posted that on steemit https://steemit.com/bitshares/@mf-tzo/proposal-to-reward-bitassets-holders-with-interest

Please share your thoughts here or preferably on steemit (anything I earn from steem goes back to buying bts..I am a bts fun to the end).

In short the proposal is to sell a very small part of the bts reserve pool to accumulate enough for i.e. 10% interest for 1 year in the form of OPEN.xxx for the respective bit.xxx assets holdings. With very few funds from the reserve we can accomplish so much..

Interest on deposits is a necessity for our DEX especially in the current negative interest environment.. 

Your comments and upvotes are much appreciated.
 
https://steemit.com/bitshares/@mf-tzo/bitshares-price-discussion

Anything earned from steem will go straight to buying bts since  i do not consider my self a blogger but i enjoy trading and holding bts

Thanks

You can find it on Github. The actual compromised users seem to be 150 not 260.

Can you please post the list of the compromised accounts here since not everyone can read github?
thanks

nobody can compete with @cass when it comes to logos