Why 10% above the peg?

I would have thought more like 2%? Or are you going to start at 10 and move closer to the peg if they don't get bought?

if the don't get bought they sit there on the order book and add depth

Please vote out Bitcrab if you care about bitshares.

He has too much power, and is getting use of an exchanges votes.
He previously bullied the committee in to suspending forced settlement because he'd done his own maths wrong.
He is very pushy and I think he needs less votes.

Can we just take this to voting and get done with it please? I think we need @kenCode , @ccedk, @JonnyBitcoin and @monsterer / @Shentist  to tell us if they agree/disagree with this and the impact it would have to their businesses so everyone gets enlightened. Wasn't Metaexchange thinking about the possibility to migrate to BitShares? How would this affect you?

Then finally vote and get this done with. We have already lost too many time to this kind of discussions instead of addressing other important matters.

If we only dedicated so much time to find new ways to provide liquidity instead of insisting on this matter, I'm sure we would already have figured something out. Instead, we're constantly beating the same stuff over and over again..

@Akado  Totally agree with you here, we waste too much time on little things like this, I think fees are fine how they are now. 
We really need to prioritise what are the most important things (liquidity)
I'm always bringing it up but nothing ever gets done. Can't the committee just sell the trade fees in to the market. that would be a start.

Maybe the committee could create and offer the main gateways a straight swap for their existing IOUBTCs to BitBTC.

The dex is not a decentralized exchange without a functioning smartcoin. Trading UIAs is nice but can be done faster and cheaper on poloniex.
We are 4 months in to bts 2.0 and none of the smartcoins are liquid. Something big needs to change.
People keep saying we just need a bridge to smartcoins but nobody will provide that bridge without liquidity
Here are some radical ideas of how to increase liquidity.

- The committee or a worker proposal should use reserve pool funds to create smartcoins and sell them in to the market at feed price plus 10%
- Abandon all smartcoins except BitUSD to drive liquidity to it and then think about adding another smartcoin in a years time.
- Get all gateways to offer the same btcUIA instead of each having their own separate ones. Could be a multisig wallet controlled by committee.
- Get the reserve pool to pay for a bitcoin-BitBTC bridge with guaranteed 2-way liquidity
- Limit trading pairs in the GUI to just USD vs XXX
- Buy an existing exchange like poloniex and migrate its backend over to bitshares.
- Pay some altcoins that are struggling but have big communities to migrate their coins over to bitshares through proof of burn.

Loads of people are going to moan about these ideas but we need to prove a smartcoin works.
The trading volume of USD:BTC over the last 24hrs is actually zero as it is on most days.

We can accomplish this with a pretty straight forward Smart Contract on Bitshares I believe.

The process would basically involve creating an EBA (UIA) that interfaces with a hosted wallet of said coin.

Similar to how blocktrades works, a deposit address associated with the EBA would be generated.

When the deposit hits the address a transaction is sent via the smartcontract to issue the EBA to the associated Bitshares account.

When the user wants to withdraw, they would perhaps send the amount they want to withdraw to a given bitshares address with a certain memo to specify the target address. The EBA is removed from their account and the coin is transferred to where ever they wanted it to go.

This would require maintaining a very secure environment.. but it's been done before.

This would effectively transfer coins in and out of bitshares in their full value.

It's doable.. I bet blocktrades is already like 90% of the way there.

There is no need for a secure bitcoin wallet with sidechains as bitcoin just gets frozen on the bitcoin blockchain and only the token holder can unlock it. AFAIK

and ethereum have just announced a sidechain peg (dogecoin)

http://forklog.net/dogecoin-integrates-in-ethereum-for-application-in-smart-contracts/