This is a pretty hefty wish list.
I think a lot of it boils down to our UX needing to be disassociated from the coded processes. What I mean by this is, the limitations people are feeling in the current UX is due to it mirroring the processes and architecture of the underlying protocol.
If there was a focus on how people can easily understand something and then suit the experience to match that instead of attempting to re-educate them on 'the Bitshares way', I believe we would eliminate a good 90% of our barriers to entry.
The reason I think this approach has never been taken is because it has always been assumed that someone going from the web client to the CLI or light wallet should be able to navigate them all with the same understanding.. but that is just not so. Try asking a Windows user to open their command line to type something in and look at the expression on their face that says "What is a command line?"
Anyhow.. there is some great elements you pointed out here. How much of it can be supported by a Worker right now? +5%
Why not simply FIAT -> BIT${FIAT} and be done with it?
Karnal I agree with pretty much most of what you have said. It's work work work and the only way it gets done is blood sweat and tears, utilising what we have and reach out (as fuzzy says,) inspire people to join and pour new effort or capital in for profit or the vision.
All those options are on the table and are being worked on as we speak!
- Changing the fee structure to resemble centralized exchanges (based on a percentage of the trade, with a maximum fee)
- Lowering fees to the bare minimum for however long it takes to gain more users and liquidity
- Sell the SmartCoin fee pool (fees accumulated from each SmartCoins' transactions/trades) back into the market X% over the price feed.
- Develop market making bots that users can run or invest in through a user issued asset (a complicated endeavor)
- Make an autonomous market making bot that users can buy shares of by depositing to its bankroll
- Implement "maker/taker" fees (lowering fees for market makers)
- Dilute BTS shareholders, and short assets into existence, then have the chain autonomously sell them X% above the feed price.
From my perspective, the biggest problem with adoption is getting BTC over to bitbtc in a cost effective manner. Let's say I transfer in some openbtc. If I decide I'd like to purchase bts, the openbtc/bts market is priced unfavorably compared to bitbtc/bts. This is going to sound naive, but I feel that "like currencies" should be exchanged not on an open market but on a one-to-one basis with only a handling fee applied, say .1%. This would dramatically spur activity because people would be able to get into the core asset at an acceptable exchange rate.
As an example, I'd like to be able to exchange openbtc for bitbtc at a published flat rate or a very small percentage fee.
but our "hit" is pretty humongous considering that we have absolutely monopolized the "smart-COMEX/FOREX market"Maybe you're just playing into the idiot Erlich Bachman character (funny show), but I am not sure how you can call the DEX monopolized considering the pitiful volume and liquidity. Most people are scared of using Smartcoins because of the possibility of a black swan event, they are not willing to pay the huge premium neccesary to purchase a Smartcoin, or they are not willing to take the risk of shorting one into existence.
Metatrader4 with bitshares plugin
Metatrader4 with bitshares plugin
This is what we need... it will bring in more traders and more liquidity than almost any other proposal... throw in a lending market and were golden.
of course, Smartcoins are the one thing that makes BitShares unique, and therefore, yes, you can logically call us a "1-hit wonder"
but our "hit" is pretty humongous considering that we have absolutely monopolized the "smart-COMEX/FOREX market"
Chaz Darwin was a 1-hit wonder too. He never did top his "Origion of the Species" hit, but that hit was all it took to make him filthy rich and famous.
of course, Smartcoins are the one thing that makes BitShares unique, and therefore, yes, you can logically call us a "1-hit wonder"
but our "hit" is pretty humongous considering that we have absolutely monopolized the "smart-COMEX/FOREX market"
Chaz Darwin was a 1-hit wonder too. He never did top his "Origion of the Species" hit, but that hit was all it took to make him filthy rich and famous.
Here we agree, SmartCoins is all it takes to make BM filthy rich and famous.
However we haven't monopolized the market. In fact our USD product only has 2.5% of existing crypto market share.
Uphold: $2.06 Million
Tether: $1.4 Million
Nubits: $0.74 Million
BituSD: $0.1 Million
& as Coinhoarder says competition will significantly increase through 2016 & I agree that understanding why we have a significant premium and tightening it is key. (I disagree with him though that Black Swan fear is a key factor, given the relative success of NuBits despite very little backing and a much higher risk of failure.)
We could fix the spread on smart coins right now. We lack the will, not the ability.
We could fix the spread on smart coins right now. We lack the will, not the ability.
The question is how to fix them in a sustainable, cost effective way.
I wonder why we always get overlooked in the Bitcoin media, despite being in the top 10 and top 4 coins for the longest time. Why is that? POS or something else?
I feel like we're the red headed step child. Answer that and we might get some traction
We could fix the spread on smart coins right now. We lack the will, not the ability.
The question is how to fix them in a sustainable, cost effective way.
I agree. What I propose would be a bootstrap not a long term fix. I think we need to do something in the short term though.
This pump and liquidity is a good chance for the fee pool to be used for the creation of assets. Couldn't it help tighten the peg?
our community is seen as a hostile community to outsiders.
- we think we are superior to all the other projects (at least the outside thinks this about us)
We are the least connected community if you think about how often we are mentioned and talked about us.
in converences their are no people invited to talk with other communities about the challanges crypto sees. So when should
new blood coming into bitshares?
everyone should get up and doing something!
I wonder why we always get overlooked in the Bitcoin media, despite being in the top 10 and top 4 coins for the longest time. Why is that? POS or something else?
I feel like we're the red headed step child. Answer that and we might get some traction
I wonder why we always get overlooked in the Bitcoin media, despite being in the top 10 and top 4 coins for the longest time. Why is that? POS or something else?
I feel like we're the red headed step child. Answer that and we might get some traction
the founders of this project called bitcoin a failing business and will eventually dead . And even some of us follow the lead and does that .
what do you expect from those bitcoin people .
I wonder why we always get overlooked in the Bitcoin media, despite being in the top 10 and top 4 coins for the longest time. Why is that? POS or something else?
I feel like we're the red headed step child. Answer that and we might get some traction
the founders of this project called bitcoin a failing business and will eventually dead . And even some of us follow the lead and does that .
what do you expect from those bitcoin people .
Maybe now is a prime opportunity for some PR considering we've been pushing this view for quite some time. With all of the Mike Hearne drama, maybe we can get some major media outlet to show us a little love?
Atm people think "Who the hell is BitShares coming here all of a sudden trying to overcome Bitcoin", instead they need to think "Wow I can actually use BitShares smartcoins to increase my Bitcoin holdings"