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Quote from: MarkoPaasila on April 04, 2017, 08:06:51 amJust an idea for everyone here without any special talents like software development:Borrow USDBorrow something else or deposit some other awesome crypto you don't mind holdingCheck the USD price from coinmarketcap.comSet up buy and sell orders at 2-4% spread, 10 orders on each side at 1% incrementsCheck out your market every 12 hoursWhy?You will make a profit once someone else takes your ordersYou will make the DEX look goodYour actions act like a seed. A bootstrapped market invites more participantsYou can hold your BTS while trading other coins against USD, which itself benefits BitsharesYou don't take any risk by holding something you fear might crashYou can diversify within the DEXYou will need other exchanges lessPeople want to trade on the DEX, and together we can provide to them.You don't take the risk of leveraged trading, unless you trade in BTS marketsI've done this to the USD:MAID, USD:STEEM, USD:BLOCKPAY, USD:BTWTY, USD:EUR, USD:GOLD, USD:SILVER markets, and next I'm getting some Synereo AMP and Tauchain AGORAS to bootstrap USD:AGRS and USD:AMP markets. Once LBRY and Solarcoin are added, I will do the same to them. I'm doing all this with some €4k, which is all I have.I'm a little amazed about the fact that I'm bootstrapping or helping bootstrap several markets, while I hold only 1/1,000,000 of all BTS (or something to that degree). What are all other holders doing? How much liquidity and how amazing markets could we provide with all that BTS? Is everyone so afraid, so the keep BTS at Poloniex just in case? Come on everyone! I don't want to brag, but point out that we have everything we need. We can do it by - doing it :-)EDIT: If you check out the markets, you might notice that I fail to keep all the markets nice. I keep running out of liquidity myself, but then I try to readjust my holdings in order to be able to continue. Then there's the STEEM:USD market, where my orders are tiny compared to one single $6k wall, which makes it look ugly, but so what. The market is working!
Just an idea for everyone here without any special talents like software development:Borrow USDBorrow something else or deposit some other awesome crypto you don't mind holdingCheck the USD price from coinmarketcap.comSet up buy and sell orders at 2-4% spread, 10 orders on each side at 1% incrementsCheck out your market every 12 hoursWhy?You will make a profit once someone else takes your ordersYou will make the DEX look goodYour actions act like a seed. A bootstrapped market invites more participantsYou can hold your BTS while trading other coins against USD, which itself benefits BitsharesYou don't take any risk by holding something you fear might crashYou can diversify within the DEXYou will need other exchanges lessPeople want to trade on the DEX, and together we can provide to them.You don't take the risk of leveraged trading, unless you trade in BTS marketsI've done this to the USD:MAID, USD:STEEM, USD:BLOCKPAY, USD:BTWTY, USD:EUR, USD:GOLD, USD:SILVER markets, and next I'm getting some Synereo AMP and Tauchain AGORAS to bootstrap USD:AGRS and USD:AMP markets. Once LBRY and Solarcoin are added, I will do the same to them. I'm doing all this with some €4k, which is all I have.I'm a little amazed about the fact that I'm bootstrapping or helping bootstrap several markets, while I hold only 1/1,000,000 of all BTS (or something to that degree). What are all other holders doing? How much liquidity and how amazing markets could we provide with all that BTS? Is everyone so afraid, so the keep BTS at Poloniex just in case? Come on everyone! I don't want to brag, but point out that we have everything we need. We can do it by - doing it :-)EDIT: If you check out the markets, you might notice that I fail to keep all the markets nice. I keep running out of liquidity myself, but then I try to readjust my holdings in order to be able to continue. Then there's the STEEM:USD market, where my orders are tiny compared to one single $6k wall, which makes it look ugly, but so what. The market is working!
Are you doing that manually, or using trading software?Speaking of which, what are the current best options for automated DEX trading for liquidity and profit, preferably cli ?
hello sakhan,I am happy to tell you peercoin is already on OpenLedger and I would be ahppy to see liquidity added to the markets?welcomeregardsRonny BoesingCEOOpenLedger
Quote from: mea123 on April 02, 2017, 02:02:02 pmQuote from: bitcrab on March 10, 2017, 07:53:46 amanyone can persuade polo to open a BTS/USDT pair? that will help a lot.I would, but dont even know what is POLOmore info pleasePoloniex is a crytocoin exchange. We should lobby them to add USDT/ BTS, anyone know how?
Quote from: bitcrab on March 10, 2017, 07:53:46 amanyone can persuade polo to open a BTS/USDT pair? that will help a lot.I would, but dont even know what is POLOmore info please
anyone can persuade polo to open a BTS/USDT pair? that will help a lot.
Quote from: j-v-h-silver on April 02, 2017, 12:46:19 amWhen you say you coded the bot yourself .. did you use Xeroc's "pybitshares" as in his earlier reply to the stakemachine topic in the Technical Support & Feedback forum section ? https://bitsharestalk.org/index.php/topic,23939.msg304085.html#msg304085It looks like there are a few Bot discussions going on at the present time.While starting to get in Python and liking the look of pybitshares for interfacing I am not keen to reinvent the wheel especially if its designed by someone who can do it better than a newbie :-)Interested to know if anyone is using stakemachine currently or another bot for real trades on Bitshares or Openledger Blockchain.Cheers Johnbts bots is python and can be found here https://github.com/pch957/btsbotshosted at btsbots.com and androidstore:https://play.google.com/store/apps/details?id=com.idnt4zyo1d95xegwtxmk0
When you say you coded the bot yourself .. did you use Xeroc's "pybitshares" as in his earlier reply to the stakemachine topic in the Technical Support & Feedback forum section ? https://bitsharestalk.org/index.php/topic,23939.msg304085.html#msg304085It looks like there are a few Bot discussions going on at the present time.While starting to get in Python and liking the look of pybitshares for interfacing I am not keen to reinvent the wheel especially if its designed by someone who can do it better than a newbie :-)Interested to know if anyone is using stakemachine currently or another bot for real trades on Bitshares or Openledger Blockchain.Cheers John
Quote from: bitcrab on March 19, 2017, 02:39:09 pmbegin to run the USDT/bitUSD market making bot.hope that will helpis this btsbots ?
begin to run the USDT/bitUSD market making bot.hope that will help
Quote from: bitcrab on February 13, 2017, 05:56:09 amalthough the process to increase witness payment is still on going, I am considering another possibility - to pay witness in bitUSD.frankly speaking I have considered to use bitCNY to do this, as bitCNY has better supply and market depth than bitUSD, but more bitCNY supply may lead to one result that had happened: most of the bitCNY finally acculmate in transwiser and transwiser have to force settle. so maybe bitUSD is a better choise.suppose 0.004$ is BTS price, then block payment should be 0.012$, 345.6 USD per day.let reserve pool borrow 62208 bitUSD - which is total witness payment for 180 days, with 0.004$ as price and 5 as collateral ratio, that need 77,760,000 BTS for collateral - seems OK.in order to get USD for position close, every week committee will place an order to sell 604800BTS - the total weekly witness payment with 3BTS/block, with the price calculated out from some rules: the highest BTS price in the last week or other better rules.It would be great if witnesses and workers could be paid in BitUSD automatically by the blockchain. Unfortunately bitshares is not designed to do this and as you suggest the only way is by trusting the committee with large collateral positions. @xeroc latest worker is similar to this proposal, lets see how that goesI'm not sure if shareholders would be happy to trust the comittee with such large amounts.
although the process to increase witness payment is still on going, I am considering another possibility - to pay witness in bitUSD.frankly speaking I have considered to use bitCNY to do this, as bitCNY has better supply and market depth than bitUSD, but more bitCNY supply may lead to one result that had happened: most of the bitCNY finally acculmate in transwiser and transwiser have to force settle. so maybe bitUSD is a better choise.suppose 0.004$ is BTS price, then block payment should be 0.012$, 345.6 USD per day.let reserve pool borrow 62208 bitUSD - which is total witness payment for 180 days, with 0.004$ as price and 5 as collateral ratio, that need 77,760,000 BTS for collateral - seems OK.in order to get USD for position close, every week committee will place an order to sell 604800BTS - the total weekly witness payment with 3BTS/block, with the price calculated out from some rules: the highest BTS price in the last week or other better rules.
I feel so helpless.thanks to @JonnyBitcoin and @abit that provide more than 30k USDT, however that's not enough, to build a channel to connect USD world and non-USD world need continous and stable liquidity.can USD world and non-USD world help each other? I mean that let non-USD world always provide more than 2000 bitUSD offer to buy USDT at 0.98-1 bitUSD, and USD world always offer more than 2000 USDT to sell at 1-1.02 bitUSD.I can play the role to offer bitUSD, anyone will play the role to offer USDT?how about you? @JonnyBitcoin
Quote from: bitcrab on March 10, 2017, 07:53:46 amanyone can persuade polo to open a BTS/USDT pair? that will help a lot.yes that would help alot.@bitcrab do you use btsbots ?
3.) BitUSD:OPEN.USDT marketThe best way to show people BitUSD is worth 1 USD is to create a market where BitUSD trades against a bearer asset that is worth 1 USD. That would be USDT (see www.tether.to)Bearer asset = Doesn't need to be kept in a named account.I am trying to kick start the BitUSD:OPEN.USDT market with $1000 buy and sell walls and a 6% spread. Please take advantage of them or add some orders yourself. This market pair is easy for anyone to be a market maker in because both assets have the same face value meaning you don't have to trust bot software because orders don't need updating
3.) BitUSD:OPEN.USDT market6.) Distribute BitUSD Getting even small amounts of bitUSD in to users hands familiarises them with it and even if they dump it thats still adding trades to the market.The idea of getting more bitusd out there is a good one and has been discussed many times on this forum. Who to and how is the tricky bit.
Quote from: Xeldal on February 16, 2017, 05:15:10 pmQuote from: bitcrab on February 16, 2017, 04:04:48 pmI get some idea, I will try to make below markets:bitUSD:BTCbitCNY:BTCbitUSD:USDTbitCNY:bitUSDif these markets become prosperous, then DEX can be a hub to link China BTC traders and the exchanges outside China, and even CNY and USD markets.maybe bots need to run not only inside DEX, but also with exchanges like polo, bitfinex, yunbi...?This would be wonderful! My bots are already linked to all these outside exchanges.Can you use your bots to essentially mirror the bids and asks from poloniex on to the dex?
Quote from: bitcrab on February 16, 2017, 04:04:48 pmI get some idea, I will try to make below markets:bitUSD:BTCbitCNY:BTCbitUSD:USDTbitCNY:bitUSDif these markets become prosperous, then DEX can be a hub to link China BTC traders and the exchanges outside China, and even CNY and USD markets.maybe bots need to run not only inside DEX, but also with exchanges like polo, bitfinex, yunbi...?This would be wonderful! My bots are already linked to all these outside exchanges.
I get some idea, I will try to make below markets:bitUSD:BTCbitCNY:BTCbitUSD:USDTbitCNY:bitUSDif these markets become prosperous, then DEX can be a hub to link China BTC traders and the exchanges outside China, and even CNY and USD markets.maybe bots need to run not only inside DEX, but also with exchanges like polo, bitfinex, yunbi...?
Quote from: bitcrab on February 15, 2017, 07:16:13 amhope more USDT liquidity can be provided, in the next month Bitcoin buyers cannot withdraw BTC from China exchanges, it's a good time for BTSers to borrow bitUSD and buy BTC from polo or bfx, however a bridge that connect USDT and bitUSD is needed.I myself need to buy a little big quantity of USDT at 1bitUSD, hope someone can sell...There are 5000+ open.USD at 1bitUSD for sell.
hope more USDT liquidity can be provided, in the next month Bitcoin buyers cannot withdraw BTC from China exchanges, it's a good time for BTSers to borrow bitUSD and buy BTC from polo or bfx, however a bridge that connect USDT and bitUSD is needed.I myself need to buy a little big quantity of USDT at 1bitUSD, hope someone can sell...
,obvious resolution here would be to provide incentive for shorter in from of transaction fee, that would compensate for those two inbalances. All other possible measures only rectify or reduce this mayor one. It would make mmbots unprofitable? I doubt.
I think we've got to get the word out in a concerted marketing effort, especially once echo comes online and focus on getting some userability feedback.I cant believe we're now down near 30th on cmc and our mkt cap is almost under 10m.
Quote from: tbone on February 03, 2017, 02:20:50 pmYou are NOT properly stating the alleged "imbalances". The fact is, the required collateral is less than 200% (175% in bitshares.org/wallet, and a little more in the OL wallet). And what do you do after borrowing (let's say butUSD, for example)? You short it. So you're selling it to someone for 100% face value. So now your collateral goes from 175% to 75%. Which means you actually have NET LEVERAGE when shorting BitAssets. So there really is no imbalance with collateral. This is correct. Although 75% MCR is bit higher than other exchanges require for shorting (polonoex requires 40% initial, 20% maintanence collateral). It may be safe to have high collateral initially, but as market spins up, we need to assess posibility of reducing MCR to be competitive.
You are NOT properly stating the alleged "imbalances". The fact is, the required collateral is less than 200% (175% in bitshares.org/wallet, and a little more in the OL wallet). And what do you do after borrowing (let's say butUSD, for example)? You short it. So you're selling it to someone for 100% face value. So now your collateral goes from 175% to 75%. Which means you actually have NET LEVERAGE when shorting BitAssets. So there really is no imbalance with collateral.
You are NOT properly stating the alleged "imbalances".
The fact is, the required collateral is less than 200% (175% in bitshares.org/wallet, and a little more in the OL wallet). And what do you do after borrowing (let's say butUSD, for example)? You short it. So you're selling it to someone for 100% face value. So now your collateral goes from 175% to 75%. Which means you actually have NET LEVERAGE when shorting BitAssets. So there really is no imbalance with collateral.
Lets not complicate, lets dive in for simplicity.Adding liquidity is not a task or a goal. It is consequence of joining two interest parties, that make honest deal.Who are those interest parties? Is there a balance of risk/reward between two parties.One interest party is known and it is the one that wants to use convenience of bitUSD. Has no additional risk when buying except that of significant price drop. But since it is relatively stable you could only expect to lose gain if price of crypto goes high, fast. The other party has to provide at least two times the value (BTS lightwallet actually recommends 2,3:1), and expose it self to a price fluctuation risk that is disproportional to possible reword. There are two equitation that needs balance here:two_times_value vs one_time_valuehigh_fluctuation_risk vs none,obvious resolution here would be to provide incentive for shorter in from of transaction fee, that would compensate for those two inbalances. All other possible measures only rectify or reduce this mayor one. It would make mmbots unprofitable? I doubt.
5) Bots -- I would love to see even better, easier-to-use bot options. btsbots is a really nice step in the right direction, but the interface is not very intuitive. And there's no way to manage the balancing of your inventory within some constraints. If you're not careful, you could end up with all of your funds in just one of the assets you're trying to provide liquidity to. As discussed in #4 above, this is not as big of a deal in a 1:1 market like bitUSD : USDT. But you still probably don't want to end up so imbalanced like that. So for the sake of making it easier for people to provide liquidity to ALL markets, I hope btsbots continues to improve.
@tbone you have said in the past that bitshares needs to become attractive to traders who short bitusd instead of long term investors because long term bitshares investors creating bitusd depend on the price of bts to rise. By traders did you mean traders who make trades on a time horizon that is so small (next hours to days) that bts is as likely to to up as down during that time, effectively eliminating the effect of long term price trends of bts?