3.) BitUSD:OPEN.USDT market
The 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
So what you're describing here is a way for BTS Shareholders to profit, and at the same time improve the User Experience of bitshares?
Symbiotic profit for shareholder and community.
I know I've asked before, but could you describe the process of putting up 'sell walls' on the BitUSD:OPEN.USDT market?
Step by step instructions makes it far more likely a large portion of the shareholders will contribute to liquidity.
I think part of the problem is that holding bts in cold storage is very safe. Risking your investment on the exchange (if you fuck up) to make 6% by providing liquidity just doesn't seem worth it.
Do I need to open an account somewhere?
Register on tether.com?
Could you Spoon feed us the steps
3.) BitUSD:OPEN.USDT market
6.) 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.
Are there any giftcards that use UIAs yet?
The possibility of bts shareholders making a profitable trade by exchanging bitGiftCard for physical gift card would be great.
Maybe that particular method is impossible, but some method by which bts shareholders can 'make a market' between the bts DEX and the physical world would be fantastic.