Increasing BitAssets in circulation and having daily turnover ticking over is important.
I'd definitely like to explore any ideas that help kickstart BitAssets.
Also I didn't want to subsidise yield but if BitAssets aren't gaining traction I would consider it.
No subsidizing yield! 1x addition in BitAsset circulation does not necessarily lead to 3x addition to the BTS market cap. People could either put their money into BTS or BitAssets and the effect to BTS market cap should be similar. BitAssets are there for people who want to be exposed to the underlying asset's price and nothing more. We shouldn't have to incentivize them to hold it.
If a delegate put $2000 towards BitGold yield a month for 3 months we'd probably get a $100 000 BitGold CAP this week. So 3 delegates for 3 months as a promotion for BitBTC, BitSilver and BitGold & you'd have 5 BitAssets in the top 100 on CMC. (It can be justified if it's just a promotion to launch a BitAsset.)
Now if your argument is increasing the BitAsset supply numbers as free advertising on CMC, that is a different story. But I still do not support BTS dilution subsidizing that. Instead people holding large amounts of BTS should just short to themselves in markets where the BitAsset sell orders are not below (in BTS/BitAsset price) the price feed and there are virtually no short sell orders at the price feed. Their exposure to BTS remains the same, they can cover their short at any time, and all they need to do is keep track of the price to not get margin called and to cover their short (and ideally reopen a new short) before 30 days.
It is still "fake" numbers, but hey, it's advertising...
Yes. But BitAssets have been running for 6 months and people haven't done this shorting to themselves much.
I know subsidising yield doesn't get offset by the 3x BitAssets. The idea is that it's a promotion to kickstart the market. I believe a large part of our valuation is driven by the perception of how well we're doing at getting BitAsset adoption going - Gateways, Merchants, BitAsset CAP & turnover.
If our BitAssets still have no CAP in a month or two when BitGold & BitSilver by BitReserve comes out it will look very bad for us. If BitUSD rises above NuBits CAP it will look very good for us. So it's advertising and perception. BitAssets are a product, having a promotion to launch a product is pretty standard.