BitShares Forum
Main => Stakeholder Proposals => Topic started by: gulu on January 19, 2015, 10:27:33 am
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BTS ID: tradebts.gulu
TradeBTS (www.tradebts.com) is a platform that buys and sells BitAssets. Right now, we deal BitCNY at 1:1 ratio with CNY for a small fee.
1) Who we are?
We at TradeBTS are a team of four — 1 project manager (gulu), 1 tech, 1 accountant, and 1 customer service.
2) What has TradeBTS done?
A. Since its debut in Nov. 2014, tradebts.com has dealt 1.3 million BitCNY accumulatively.
B. TradeBTS established an agreement with BTC38 exchange (www.btc38.com). As a result, the latter now accepts BitCNY as a deposit method for CNY. To an average user, he can fund his BTC38 account just like CNY, with 1:1 ratio.
3) What’s next on our roadmap?
A. Persuade more exchanges to accept BitCNY as funding channel.
B. Seek fundraise to boost our BitCNY capacity. It’s not likely that big-boy merchants and institutions would accept BitCNY before any dealer reaches certain level of BitCNY capacity.
4) How can we do it better?
A. Limited by the capital size of TradeBTS, we have set a daily limit of 5000 BitCNY to each individual account. To grow our capital size and better serve the community, we plan to go for crowdfunding on dacx.com in 3 months.
B. We are at the very beginning of BitAssets’ adoption. Therefore the market is pretty small. One of our major missions at TradeBTS is to educate the market on BitAssets. Right now, we are doing so at a loss, as the revenue from dealing is far less from making even off operational cost. Additional cash flow from a fully-paid delegate could further help us educate the market.
5) What does the fully-paid delegate mean?
A. Grow the capital at TradeBTS for the purpose of BitCNY dealing.
B. Long-term market education on BitAssets.
C. More fundraising at crowdfunding. Larger capital capacity means better likelihood of getting in the big-boy merchants.
Our campaign slogan: BitAsset works; your vote counts.
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tradebts.com seems to be an awesome platform .. though I cannot check it out as I don't speak mandarin :(
Could you elaborate why you cannot use the fees your costumers pay for trades to do what you described in the OP? What for do you need a 100% delegate? How long do you plan to run the delegate?
related read: http://bytemaster.bitshares.org/article/2014/12/24/Delegates-Should-Have-a-Business-Plan/
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tradebts.com seems to be an awesome platform .. though I cannot check it out as I don't speak mandarin :(
Could you elaborate why you cannot use the fees your costumers pay for trades to do what you described in the OP? What for do you need a 100% delegate? How long do you plan to run the delegate?
related read: http://bytemaster.bitshares.org/article/2014/12/24/Delegates-Should-Have-a-Business-Plan/
They've dealt with 1 million BitCNY , even with a decent fee at 1% , which is 10000 CNY = 1618USD . I don't think it's enough to cover the operation of a four man team , including the office space .
By the way , in order to promote BTS , they're just collecting 0.3% fee right now .
The fee , however , will be useful if they can grow the volume to 10 million or more CNY per month . But until then , I doubt the fee can cover their operation .
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Crucial operations! +5%
Will you do weekly updates and transparent accounting? I think this is important for all delegates moving forward, it is so hard to keep track.
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Crucial operations! +5%
Will you do weekly updates and transparent accounting? I think this is important for all delegates moving forward, it is so hard to keep track.
:P I think the best part of their operation is that you can check if they're doing their job by simply deposit BitCNY in BTC38 and see if if will become the real CNY balance . Because that's how the BTC38 BitCNY system works , through the service provided by www.tradebts.com .
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tradebts.com seems to be an awesome platform .. though I cannot check it out as I don't speak mandarin :(
Could you elaborate why you cannot use the fees your costumers pay for trades to do what you described in the OP? What for do you need a 100% delegate? How long do you plan to run the delegate?
related read: http://bytemaster.bitshares.org/article/2014/12/24/Delegates-Should-Have-a-Business-Plan/
Users buy BitCNY without any charge, and pay a 0.3% fee for selling BitCNY. Because the current market is so tiny that no business would cover cost from the dealing revenue. The reason I do it is because a dealer is too crucial to be absent for a BTA's adoption. And BTC38 is a good proof.
We will need help from the community until the market grows big enough.
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Voted :)
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We really need a similar thing for USD and bitUSD. USA marketing, go go go!
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So this is a bitAsset/fiat gateway but only with CNY? Nice! +5%
I would suggest later on to translate it to English! Good luck with that, hope you can support other fiat currencies like USD or EUR in the future!
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Great to have you :)
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So this is a bitAsset/fiat gateway but only with CNY? Nice! +5%
I would suggest later on to translate it to English! Good luck with that, hope you can support other fiat currencies like USD or EUR in the future!
We are not limited to BitCNY only. Will get more BTAs online when opportunity knocks.
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Great to have you :)
Thanks a lot. We all work together around BTS.
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Are you planning to introduce cross-boundary fiat-bitasset exchange? e.g. CNY<->bitUSD
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is there anyone doing other BitAssets like BitUSD at 1:1?
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is there anyone doing other BitAssets like BitUSD at 1:1?
nope