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Main => General Discussion => Topic started by: clout on November 12, 2015, 06:08:21 pm

Title: [EBM] Exchange Business Management Team
Post by: clout on November 12, 2015, 06:08:21 pm
Summary
Bitshares is an exchange that requires liquidity to generate profits and a larger user base. We have up until now, poorly managed our partnerships with those that provide liquidity to the underlying BTS market and to the bitasset markets. It is necessary that going forward we have
a well organized team that can maintain relationships with liquidity providers as well as generate new sources of liquidity for internal markets. I am reaching out to the community to see if there are any other members that would like to help in this endeavor.

The google docs version of this announcement can be found here (https://docs.google.com/document/d/1oKojV-ciznpuvoaa9DU3O2wnPXFxzULu8SROF84iEN4/edit?usp=sharing)

Learning from Mistakes
For the most part, everyone wanted Bitshares 2.0 to be launched as quickly as possible. Some people needed the upgrade in order to use the platform, while others just wanted to see a more marketable product that might change the direction of the BTS price. In our haste to get a product out quickly we forgot about the central service that Bitshares seeks to provide: a blockchain based exchange platform that can compete against centralized platforms. The most crucial factor to reach that end, is the maintenance and growth of liquidity on the exchange.

Without liquidity, it doesn’t matter how good the code is or how much effort we put into marketing and referrals, people simply will not use this platform. This is one of the reason the BTS price has languished, particularly since the upgrade.

Upon upgrading, we didn’t consider the importance of having liquidity providers simultaneously upgrading as well. We lost our exposure to the chinese market, which has recently increased their appetite for Bitcoin and other cryptocurrencies traded on chinese exchanges. We lost our main sources of external liquidity for bitassets. Consequently, there is very little trading volume on the internal exchange.

Going Forward
Understanding that exchanges and gateways are our implicit partners, we should manage those relationships accordingly. Our business operations are adversely affected by exchanges going down or failing to upgrade with a continually changing API. In order to maintain these relationships, we need dedicated teams that are actively communicating with exchanges, gateways and market makers. Furthermore, we need to actively seek out new relationships with liquidity providers.

The Exchange Business Management Team
I would like to spearhead the assembly of an Exchange Business Management (EBM) team, the goal of which is to maintain and grow liquidity on the Bitshares exchange. To do this we need to publicly coordinate our relationship with exchanges, gateways and bridges. Once these relationships are established we need to encourage and incentivize exchanges to transition to gateways and bridges that provide liquidity on the internal exchange. Furthermore, we need to encourage these gateways to accept bitassets at face value (with a small fee) so that we can centralize liquidity into a few a markets rather than many disparate markets that overcomplicate the Bitshares trading experience.The last role of the EBM team would be to incentivize market makers to provide liquidity on the internal exchange.

The following is a list of our current liquidity sources and the level of integration they have with the bitshares exchange:

ExchangeBTS MarketBitasset MarketsGatewayBridgeGoal
BlocktradesYesNoYesNoGet Blocktrade to provide bridge for BTC / BitBTC market.
Btc38YesNoNoNoGet Btc38 to issue a UIA, BTC38.CNY, that is accepted means of deposit and withdrawal. Get Btc38 to allow for withdrawals of BitCNY.
BittrexYesNoNoNoGet Bittrex to open up bitasset markets on their platform.
CCEDKYesYesYesNoGet CCEDK to provide fiat gateway (primarily for USD) as well as fiat to bitasset bridge.
MetaexchangeYesNoYesNoGet Metaexchange to provide bridge services.
PoloniexYesNoNoNoGet Poloniex to integrate BitCNY and BitUSD.
TranswiserNoYesYesYesGet Transwiser to to facilitate the deposit and withdrawal process of BitCNY on Yunbi as well as withdrawal process of BitCNY from Btc38. Get Transwiser integrated into bitshares deposit and withdrawals page.
YunbiYesYesNoNoGet Yunbi to issue UIA, YUNBI.CNY as well as accept deposits and withdrawals of BitCNY as CNY.

EBM Team Roles


Representatives
Representatives communicate directly with liquidity providers to ensure a continued and growing relationship with these partners. Representatives must keep exchanges, gateways and bridges, abreast of any changes that might affect them, while also conveying to exchanges the opportunities afforded by further integration with Bitshares. At the end of the day,  we want all of these sources of liquidity to be more integrated into the internal markets as well as profit from doing so. Representatives must then publically report the current state of our relationship with a given liquidity provider, what it would take to generate further integration and how the EBM team plans to execute to achieve that goal.

Software Specialist
Software specialists are representatives who are familiar with interfacing with the Bitshares software as well as exchange APIs and can provide support to liquidity providers that are attempting to integrate with Bitshares. They onboard liquidity providers, from exchanges to market makers, and ensure that these partners are always in sync with current Bitshares network.

Market Analysts
Market analyst observe the volume and the trading occurring on each market. They report on the "health" of each market, both internally and externally. In this way, we can better identify which markets are lagging and how we can improve the efficiency of those markets. These reports and analysis will also be used in demonstrating to partners which markets will be most attractive for them to enter into.


Conclusion
I am currently looking for a team of 8 to 10 community members that can help with managing this process and achieving the aforementioned goals. I personally am not looking for any compensation. I just want to help bootstrap these markets so we can give Bitshares a fighting chance. I am sure that if we do achieve these goals, BROWNIE.PTS and additional recompense will be provided. If you can, please reach out and help. At the very least, please contribute to the discussion. I will be posting my analysis of some of these liquidity providers and the potential opportunities we can pursue with them in subsequent threads.
Title: Re: [EBM] Exchange Business Management Team
Post by: jakub on November 12, 2015, 06:15:13 pm
 +5%
I propose to include creating a friendly environment for trading bots as part of these efforts.
Title: Re: [EBM] Exchange Business Management Team
Post by: clout on November 12, 2015, 06:17:53 pm
+5%
I propose to include creating a friendly environment for trading bots as part of these efforts.

I'm currently in the process of writing python trading bots for poloniex and bitshares. Would appreciate help with other exchanges. Any one that has experience using python is welcome as I would like to do a more data driven analysis of these exchanges and report the findings using ipython notebook.
Title: Re: [EBM] Exchange Business Management Team
Post by: yvv on November 12, 2015, 06:19:35 pm
Exactly right move.  +5%
Title: Re: [EBM] Exchange Business Management Team
Post by: clayop on November 12, 2015, 06:21:10 pm
I recommend @mindphlux and @Xeldal for market making bots.
Title: Re: [EBM] Exchange Business Management Team
Post by: donkeypong on November 12, 2015, 06:23:36 pm
Terrific. I love the direction you are going and your specific to-do list for each exchange.
Title: Re: [EBM] Exchange Business Management Team
Post by: clout on November 12, 2015, 06:24:07 pm
I recommend @mindphlux and @Xeldal for market making bots.

Are you saying that they could contribute capital, software or both?
Title: Re: [EBM] Exchange Business Management Team
Post by: clayop on November 12, 2015, 06:26:14 pm
I recommend @mindphlux and @Xeldal for market making bots.

Are you saying that they could contribute capital, software or both?
I meant software. They're making MM bots now IIRC.
Title: Re: [EBM] Exchange Business Management Team
Post by: tonyk on November 12, 2015, 06:33:42 pm
I recommend @mindphlux and @Xeldal for market making bots.

Are you saying that they could contribute capital, software or both?
I meant software. They're making MM bots now IIRC.
The list is strangely missing @maqifrnswa ...the only one actually having a bot...even without the API.
Title: Re: [EBM] Exchange Business Management Team
Post by: clout on November 12, 2015, 06:57:55 pm
I would like to have all people working on trading bots for bitshares and external exchanges to contribute to the EBM team as their technical knowledge will be extremely beneficial.

Additionally, a large part of this initiative that I did not thoroughly highlight is the management of market makers both on the internal as well as external exchanges. People that are working on trading bots should contribute to the market maker portion of the group. This subgroup will provide technical solutions for market makers with capital but without coding knowledge, as well as breaking down the profit incentives for being a market maker. It may also be a good idea to submit a proposal for capital from bitshares if we have come to consensus on the best market maker bot.
Title: Re: [EBM] Exchange Business Management Team
Post by: maqifrnswa on November 12, 2015, 07:23:58 pm
I recommend @mindphlux and @Xeldal for market making bots.

Are you saying that they could contribute capital, software or both?
I meant software. They're making MM bots now IIRC.
The list is strangely missing @maqifrnswa ...the only one actually having a bot...even without the API.

my bot does require a hacked wallet. I've pushed the changes to graphene, so everyone will get them eventually. The bot isn't that great, but I'd be happy to share the code with @mindphlux and @Xeldal, or any other trusted community member that has a history of working with bots. It could be a good starting point. (My bot code is crap as I just hacked on it to get what I want, but can easily be messaged into something better).

I'd eventually open source my code, once the wallet api supports it and it isn't embarrassing to look at.
Title: Re: [EBM] Exchange Business Management Team
Post by: Ben Mason on November 12, 2015, 08:49:54 pm
This is a brilliant and essential initiative, nice one Clout!
Title: Re: [EBM] Exchange Business Management Team
Post by: Xeldal on November 12, 2015, 09:12:37 pm
+5%
I propose to include creating a friendly environment for trading bots as part of these efforts.

I'm currently in the process of writing python trading bots for poloniex and bitshares. Would appreciate help with other exchanges. Any one that has experience using python is welcome as I would like to do a more data driven analysis of these exchanges and report the findings using ipython notebook.

Nice initiative Clout!  +5%

I've been working on a bot for about a year now.  Its been running for that time.  Its written in Go Lang and is quite extensive.  Its interfacing with Poloniex, BTER, Yunbi, BitTrex, MetaExchange, Blocktrades, CCEDK, BTS2.0, and Bitcoin Indonesia.  It includes a simple market maker for any market, a simple Arbitrage between for all markets, and an advanced, what I call, Active Arbitrage feature.   With an extensive variable parameter list for on the fly changes/adjustments.

I've repurposed my website http://bitsharesbreakout.com/ to Aggregate all the various markets together.  So you can quickly find the market with the cheapest available BTS prices.  As well there is a bot page where you can see the trades as they happen. 

I'm working on expanding this further to include other coins like Muse etc. 

I'd be happy to contribute in whatever way I can.

(http://content.screencast.com/users/Enkianu/folders/Jing/media/f32048ad-c740-4b38-a972-c8361c450c23/2015-11-12_1611.png)
Title: Re: [EBM] Exchange Business Management Team
Post by: GaltReport on November 12, 2015, 09:31:00 pm
I would like to have all people working on trading bots for bitshares and external exchanges to contribute to the EBM team as their technical knowledge will be extremely beneficial.

Additionally, a large part of this initiative that I did not thoroughly highlight is the management of market makers both on the internal as well as external exchanges. People that are working on trading bots should contribute to the market maker portion of the group. This subgroup will provide technical solutions for market makers with capital but without coding knowledge, as well as breaking down the profit incentives for being a market maker. It may also be a good idea to submit a proposal for capital from bitshares if we have come to consensus on the best market maker bot.

I may be interested in running market-maker bot(s)...depending on the details (mainly capital and bot monitoring/babysitting required). 
Title: Re: [EBM] Exchange Business Management Team
Post by: bytemaster on November 12, 2015, 11:19:28 pm
Great work!
Title: Re: [EBM] Exchange Business Management Team
Post by: clout on November 13, 2015, 01:13:47 am
I really appreciate the feedback. I'm glad to see that people are interested in getting involved. The main roles that we need are as follows:


Representatives
Representatives communicate directly with liquidity providers to ensure a continued and growing relationship with these partners. Representatives must keep exchanges, gateways and bridges, abreast of any changes that might affect them, while also conveying to exchanges the opportunities afforded by further integration with Bitshares. At the end of the day,  we want all of these sources of liquidity to be more integrated into the internal markets as well as profit from doing so. Representatives must then publically report the current state of our relationship with a given liquidity provider, what it would take to generate further integration and how the EBM team plans to execute to achieve that goal.

Software Specialist
Software specialists are representatives who are familiar with interfacing with the Bitshares software as well as exchange APIs and can provide support to liquidity providers that are attempting to integrate with Bitshares. They onboard liquidity providers, from exchanges to market makers, and ensure that these partners are always in sync with current Bitshares network.

Market Analysts
Market analyst observe the volume and the trading occurring on each market. They report on the "health" of each market, both internally and externally. In this way, we can better identify which markets are lagging and how we can improve the efficiency of those markets. These reports and analysis will also be used in demonstrating to partners which markets will be most attractive for them to enter into.

I personally look to fill the role of a representative and market analyst (not sure I could troubleshoot the issues that an exchange might run into). If you are someone putting together a market maker bot, you might be able to fill the role of market analyst as well as software specialist. If interested please specify which role you would satisfy. Thanks.
Title: Re: [EBM] Exchange Business Management Team
Post by: clout on November 13, 2015, 01:15:44 am
+5%
I propose to include creating a friendly environment for trading bots as part of these efforts.

I'm currently in the process of writing python trading bots for poloniex and bitshares. Would appreciate help with other exchanges. Any one that has experience using python is welcome as I would like to do a more data driven analysis of these exchanges and report the findings using ipython notebook.

Nice initiative Clout!  +5%

I've been working on a bot for about a year now.  Its been running for that time.  Its written in Go Lang and is quite extensive.  Its interfacing with Poloniex, BTER, Yunbi, BitTrex, MetaExchange, Blocktrades, CCEDK, BTS2.0, and Bitcoin Indonesia.  It includes a simple market maker for any market, a simple Arbitrage between for all markets, and an advanced, what I call, Active Arbitrage feature.   With an extensive variable parameter list for on the fly changes/adjustments.

I've repurposed my website http://bitsharesbreakout.com/ to Aggregate all the various markets together.  So you can quickly find the market with the cheapest available BTS prices.  As well there is a bot page where you can see the trades as they happen. 

I'm working on expanding this further to include other coins like Muse etc. 

I'd be happy to contribute in whatever way I can.

(http://content.screencast.com/users/Enkianu/folders/Jing/media/f32048ad-c740-4b38-a972-c8361c450c23/2015-11-12_1611.png)

I've just written of the roles of the team I am trying to form. Your site is very much in line with what I am trying to do. Would love to have you as a market analyst and/or software specialist for market makers.
Title: Re: [EBM] Exchange Business Management Team
Post by: clout on November 13, 2015, 01:16:12 am
I would like to have all people working on trading bots for bitshares and external exchanges to contribute to the EBM team as their technical knowledge will be extremely beneficial.

Additionally, a large part of this initiative that I did not thoroughly highlight is the management of market makers both on the internal as well as external exchanges. People that are working on trading bots should contribute to the market maker portion of the group. This subgroup will provide technical solutions for market makers with capital but without coding knowledge, as well as breaking down the profit incentives for being a market maker. It may also be a good idea to submit a proposal for capital from bitshares if we have come to consensus on the best market maker bot.

I may be interested in running market-maker bot(s)...depending on the details (mainly capital and bot monitoring/babysitting required).

Would you supply capital if someone supplied easy to use software for market making?
Title: Re: [EBM] Exchange Business Management Team
Post by: tonyk on November 13, 2015, 01:22:55 am
It might be just me but I will change the title from "•Technical Assistant" to something like... "Software Specialist"? maybe.

It has some  not so good ring to it... again maybe just me.
Title: Re: [EBM] Exchange Business Management Team
Post by: clout on November 13, 2015, 01:30:20 am
It might be just me but I will change the title from "•Technical Assistant" to something like... "Software Specialist"? maybe.

It has some  not so good ring to it... again maybe just me.

tonyk, I agree. I will change to Software Specialist. I am fully open to changing the title names. What's more important is defining the role and responsibilities of these team members.
Title: Re: [EBM] Exchange Business Management Team
Post by: tonyk on November 13, 2015, 01:46:41 am
It might be just me but I will change the title from "•Technical Assistant" to something like... "Software Specialist"? maybe.

It has some  not so good ring to it... again maybe just me.

tonyk, I agree. I will change to Software Specialist. I am fully open to changing the title names. What's more important is defining the role and responsibilities of these team members.
I totally agree, just if someone has the knowledge to be  a "Software Specialist", the last thing I want to see is him loosing interest in the position because of the title.
Title: Re: [EBM] Exchange Business Management Team
Post by: GaltReport on November 13, 2015, 02:05:25 am
I would like to have all people working on trading bots for bitshares and external exchanges to contribute to the EBM team as their technical knowledge will be extremely beneficial.

Additionally, a large part of this initiative that I did not thoroughly highlight is the management of market makers both on the internal as well as external exchanges. People that are working on trading bots should contribute to the market maker portion of the group. This subgroup will provide technical solutions for market makers with capital but without coding knowledge, as well as breaking down the profit incentives for being a market maker. It may also be a good idea to submit a proposal for capital from bitshares if we have come to consensus on the best market maker bot.

I may be interested in running market-maker bot(s)...depending on the details (mainly capital and bot monitoring/babysitting required).

Would you supply capital if someone supplied easy to use software for market making?

Potentially yes.  I would need to know more details (how much, how to manage the funds/bot etc..).  I'm assuming this would make a small profit or break even at worst.
Title: Re: [EBM] Exchange Business Management Team
Post by: xeroc on November 13, 2015, 08:10:47 am
If you need any technical assistance or have an idea how the documentation should look like to improve integration .. just drop me a line ..

+5% for the initiative!
Title: Re: [EBM] Exchange Business Management Team
Post by: boombastic on November 13, 2015, 03:52:48 pm
I like your effort and I am willing to contribute in any way I can.  I just helped Transwiser to integrate their gateway to BitShares wallet, can help with other gateway services as well.  I am in China, can be easier for Chinese service providers to reach me if they need any help.
Title: Re: [EBM] Exchange Business Management Team
Post by: bytemaster on November 13, 2015, 05:57:47 pm
I would like to add direct support for exchanges in the wallet. If this team can encourage exchanges to provide an API that returns a deposit MEMO given a username that doesn't require authentication. Then we can have the wallet save the exchange account, user id on exchange, and deposit memo and make deposits easy and transparent. 

Standardizing this interface would make the user experience both easier and more secure/less error prone.  It also gives the exchanges some direct advertising within the wallet.
Title: Re: [EBM] Exchange Business Management Team
Post by: clout on November 14, 2015, 12:11:32 am
I would like to add direct support for exchanges in the wallet. If this team can encourage exchanges to provide an API that returns a deposit MEMO given a username that doesn't require authentication. Then we can have the wallet save the exchange account, user id on exchange, and deposit memo and make deposits easy and transparent. 

Standardizing this interface would make the user experience both easier and more secure/less error prone.  It also gives the exchanges some direct advertising within the wallet.

Contacting exchanges about this now
Title: Re: [EBM] Exchange Business Management Team
Post by: Akado on November 14, 2015, 08:35:50 pm
Don't forget Bitcoin Indonesia, they showed interest in BitShares in the past, also http://business.asiaone.com/news/indonesia-use-yuan-trade-china-2016

meaning they could help provide more bitCNY liquidity  :)
Title: Re: [EBM] Exchange Business Management Team
Post by: btswildpig on November 15, 2015, 04:51:23 am
Forget about IOU-CNY.
Any Chinese exchange would worry about Legal risk .

Because the token can be transfered . It's not a crypto coin . Hence it doesn't share the same property as a crypto coin .

Same reason why BM was so stressed about Brownie.PTS's "non-value" property .
Title: Re: [EBM] Exchange Business Management Team
Post by: DestBest on November 15, 2015, 05:03:00 am
A new exchange may need our help:
https://bitsharestalk.org/index.php/topic,18995.msg256636.html#msg256636
Title: Re: [EBM] Exchange Business Management Team
Post by: clout on November 16, 2015, 03:39:50 pm
Don't forget Bitcoin Indonesia, they showed interest in BitShares in the past, also http://business.asiaone.com/news/indonesia-use-yuan-trade-china-2016

meaning they could help provide more bitCNY liquidity  :)

Do you use Bitcoin Indonesia. I can't seem to get signed in and use there platform.
Title: Re: [EBM] Exchange Business Management Team
Post by: Akado on November 16, 2015, 11:35:33 pm
Don't forget Bitcoin Indonesia, they showed interest in BitShares in the past, also http://business.asiaone.com/news/indonesia-use-yuan-trade-china-2016

meaning they could help provide more bitCNY liquidity  :)

Do you use Bitcoin Indonesia. I can't seem to get signed in and use there platform.

I don't use them. Just made contact with their CEO one time and he posted here on the forum as well.
Title: Re: [EBM] Exchange Business Management Team
Post by: clout on November 17, 2015, 01:50:51 am
Don't forget Bitcoin Indonesia, they showed interest in BitShares in the past, also http://business.asiaone.com/news/indonesia-use-yuan-trade-china-2016

meaning they could help provide more bitCNY liquidity  :)

Do you use Bitcoin Indonesia. I can't seem to get signed in and use there platform.

I don't use them. Just made contact with their CEO one time and he posted here on the forum as well.

Is there any way I can get you to be a representative for Bitcoin Indonesia? While they have very little volume in the BTS/BTC market they do however have substantial volume in the BTC/IDR market. I would like to see if they would be willing to integrate BitUSD and BitCNY.
Title: Re: [EBM] Exchange Business Management Team
Post by: Akado on November 17, 2015, 10:52:48 am
Don't forget Bitcoin Indonesia, they showed interest in BitShares in the past, also http://business.asiaone.com/news/indonesia-use-yuan-trade-china-2016

meaning they could help provide more bitCNY liquidity  :)

Do you use Bitcoin Indonesia. I can't seem to get signed in and use there platform.

I don't use them. Just made contact with their CEO one time and he posted here on the forum as well.

Is there any way I can get you to be a representative for Bitcoin Indonesia? While they have very little volume in the BTS/BTC market they do however have substantial volume in the BTC/IDR market. I would like to see if they would be willing to integrate BitUSD and BitCNY.

I can try and reach out to them... But I don't have the technical knowledge to go into details if they have questions about how everything works. They have an account here at bitsharestalk https://bitsharestalk.org/index.php?action=profile;u=34560

Actually there's a good reason for them to integrate bitUSD and bitCNY. It's the fact that they will stop using USD and start using CNY as a currency. Offering both would allow for people to choose and migrate.

https://www.reddit.com/r/Economics/comments/3t048b/indonesia_will_use_the_yuan_instead_of_us_dollars/

PM'ed and emailed
Title: Re: [EBM] Exchange Business Management Team
Post by: clout on November 18, 2015, 03:47:38 am
Don't forget Bitcoin Indonesia, they showed interest in BitShares in the past, also http://business.asiaone.com/news/indonesia-use-yuan-trade-china-2016

meaning they could help provide more bitCNY liquidity  :)

Do you use Bitcoin Indonesia. I can't seem to get signed in and use there platform.

I don't use them. Just made contact with their CEO one time and he posted here on the forum as well.

Is there any way I can get you to be a representative for Bitcoin Indonesia? While they have very little volume in the BTS/BTC market they do however have substantial volume in the BTC/IDR market. I would like to see if they would be willing to integrate BitUSD and BitCNY.

I can try and reach out to them... But I don't have the technical knowledge to go into details if they have questions about how everything works. They have an account here at bitsharestalk https://bitsharestalk.org/index.php?action=profile;u=34560

Actually there's a good reason for them to integrate bitUSD and bitCNY. It's the fact that they will stop using USD and start using CNY as a currency. Offering both would allow for people to choose and migrate.

https://www.reddit.com/r/Economics/comments/3t048b/indonesia_will_use_the_yuan_instead_of_us_dollars/

PM'ed and emailed

Ok, thanks a lot!
Title: Re: [EBM] Exchange Business Management Team
Post by: betax on November 18, 2015, 05:04:02 am
Fantastic initiative, just let me know if you need any help (in any way)
Title: Re: [EBM] Exchange Business Management Team
Post by: betax on November 18, 2015, 05:09:00 am
Why not create an UIA which can be use as a fund for MM and dividends distribution from the profits of the bot/s.
Title: Re: [EBM] Exchange Business Management Team
Post by: clout on November 18, 2015, 05:27:52 am
Why not create an UIA which can be use as a fund for MM and dividends distribution from the profits of the bot/s.

This is a possible solution. I would prefer if the solution where trustless, but it may be necessary to pursue this course of action in the event that users cannot maintain a bot on their own.
Title: Re: [EBM] Exchange Business Management Team
Post by: betax on November 18, 2015, 06:03:36 am
Why not create an UIA which can be use as a fund for MM and dividends distribution from the profits of the bot/s.

This is a possible solution. I would prefer if the solution where trustless, but it may be necessary to pursue this course of action in the event that users cannot maintain a bot on their own.

Different levels of participation, I assume many people might be interested to participate and can trust known members to distribute and run the bots.
If we limit this to accounts that run on the dex, they can be easily audited by contributors. to ensure a fair ROI. Now if UIA had been already implemented the dividends distribution, bob is your uncle, as it will be 75% decentralised.

Move a step further and you can have different specialised bots, with different parameters, running on the DEX. Similar to eToro follower, but bot trading follower.
Title: Re: [EBM] Exchange Business Management Team
Post by: clout on November 18, 2015, 06:33:01 am
Why not create an UIA which can be use as a fund for MM and dividends distribution from the profits of the bot/s.

This is a possible solution. I would prefer if the solution where trustless, but it may be necessary to pursue this course of action in the event that users cannot maintain a bot on their own.

Different levels of participation, I assume many people might be interested to participate and can trust known members to distribute and run the bots.
If we limit this to accounts that run on the dex, they can be easily audited by contributors. to ensure a fair ROI. Now if UIA had been already implemented the dividends distribution, bob is your uncle, as it will be 75% decentralised.

Move a step further and you can have different specialised bots, with different parameters, running on the DEX. Similar to eToro follower, but bot trading follower.

I would primarily like to make and a run a bot for the GATEWAY.BTC / BitBTC so that we can reduce the spread and get BitBTC to trade on par with BTC. This would also allow for a bridge to be created for direct BTC to BitBTC exchanges. I will have toconsider the logistics of accepting funds for dividends from the profits.

Going forward I would like to see more complicated bots implemented and used but for now it makes sense to solidify our most stable markets that act as bridges between the internal and external markets.
Title: Re: [EBM] Exchange Business Management Team
Post by: betax on November 18, 2015, 07:59:34 am
Great idea to start targeting bitBTC and the gateway, as it will attract issuing of bitBTC and the ease of borrowing, as you aggregate more exchanges this will be attractive for them as people will borrow to play on the spread between exchanges on BTC, but also as a way to also trade on those exchanges.

An additional benefit is the fast transfers within the DEX, if balances from an account can be reflected on exchanges, there are possibilities to quickly react to changes on any markets on other exchanges.
Title: Re: [EBM] Exchange Business Management Team
Post by: Tuck Fheman on November 18, 2015, 08:16:40 am
Why not create an UIA which can be use as a fund for MM and dividends distribution from the profits of the bot/s.

https://youtu.be/KMFOVSWn0mI
Title: Re: [EBM] Exchange Business Management Team
Post by: clout on November 18, 2015, 01:51:16 pm
Great idea to start targeting bitBTC and the gateway, as it will attract issuing of bitBTC and the ease of borrowing, as you aggregate more exchanges this will be attractive for them as people will borrow to play on the spread between exchanges on BTC, but also as a way to also trade on those exchanges.

Yes, I think getting the bridge functionality from BTC to BitBTC will be very important. It will encourage further trading on the intranl markets and I think that's where our efforts need to lie for now, although I am in contact with exchanges to integrate BitCNY and BitUSD.

An additional benefit is the fast transfers within the DEX, if balances from an account can be reflected on exchanges, there are possibilities to quickly react to changes on any markets on other exchanges.

Exactly, getting bitassets on exchanges will allow for better arbitrage opportunities between the spreads on different exchanges. I am trying to get exchanges to understand the benefits of this.
Title: Re: [EBM] Exchange Business Management Team
Post by: clout on November 18, 2015, 02:29:03 pm
I would like to put our focus on getting our primary bittasset markets more liquid, so that they can trade against each other on the internal exchange, thereby allowing for a more traditional trading experience.

Our primary base aseets:
BitCNY - Liquid market with tight spread between BitCNY and CNY. It can be used as a bridge between exchanges that accept it and provide faster means of arbitrage for traders that would like to take advantage of the spread between crypto markets in China and markets in other regions We are in the process of getting US based exchanges (such as Bittrex and Poloniex ) to provide BitCNY trading.

BitUSD - Less liquid market, but greater quantity in circulation. Difficulty lies in creating a bridge market from GATEWAY.USD to BitUSD. Going forward we will need to figure out ways to provide a more efficient BitUSD/BTS market to get BitUSD trading at the appropriate value.

Our primary speculative assets:
BitGOLD - Completely illiquid market right now. Gold is a commodity that is not traded on crypto exchanges although there is certainly demand from the crypto community to purchase Gold. Having liquid BitGOLD/BitUSD and BitGOLD/BitCNY markets would provide a differentiating factor between us and other exchanges. This is a major opportunity for us because the cost of providing commodity trading on centralized crypto exchanges is far greater than the cost of bootstrapping the BitGOLD market. I really think this could be a very crucial market for BitShares

BitBTC - While BitBTC is a less liquid market, it will be easy to bootstrap given the number of BTC gateways we currently have. Once those bridge markets are solidified and there is a more liquid market, with a tighter spread and greater depth we can create a direct bridge from BTC to BitBTC. BitBTC will provide a more volatile speculative market for users to trade in, making it a nice compliment to BitGOLD.

Do you see any other advantages or disadvantage to these bitassets both from the perspective of the Bitshares exchange as well from the perspective of Exchanges and liquidity providers that might want to use them for their own operations?

Title: Re: [EBM] Exchange Business Management Team
Post by: clout on November 27, 2015, 05:54:10 pm
This is the team so far:

Representatives:
clout - Poloniex, Bittrex
bitcrab - Btc38, Yunbi, Transwiser
Akado - Bitcoin Indonesia

Software Specialists:
xeroc - Poloniex, Bittrex
boombastic - Btc38, Yunbi, Transwiser

Market Analysts:
clout  - currently making trading bot for internal markets and poloniex 
Xeldal - bitsharesbreakout.com


We need representatives to manage relationships with gateways: blocktrade, metaexhange, ccedk and shapeshift

We also need more market analysts to provide easy to use trading bots for bitasset markets on yunbi, bittrex and poloniex, as well as gateway markets such as TRADE.BTC/BitBTC and BOTSCNY/BitCNY

Title: Re: [EBM] Exchange Business Management Team
Post by: clout on November 27, 2015, 05:56:03 pm
What we have done so far:

- BitUSD and BitCNY integration on Poloniex
- BitCNY integration on Bittrex to come soon
Title: Re: [EBM] Exchange Business Management Team
Post by: rgcrypto on November 27, 2015, 06:58:12 pm
What we have done so far:

- BitUSD and BitCNY integration on Poloniex
- BitCNY integration on Bittrex to come soon

#sharebits "clout" 1 THANKYOU
#sharebits "clout" 50 BTS
Title: Re: [EBM] Exchange Business Management Team
Post by: btstip on November 27, 2015, 06:59:14 pm
Hey rgcrypto, here are the results of your tips...
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Source: https://bitsharestalk.org/index.php/topic,19939.msg261480/topicseen.html#msg261480
Created by hybridd (https://bitsharestalk.org/index.php?action=profile;u=40140)
Title: Re: [EBM] Exchange Business Management Team
Post by: Akado on November 27, 2015, 10:00:14 pm
No reply from bitcoinindonesia
Title: Re: [EBM] Exchange Business Management Team
Post by: clout on November 27, 2015, 10:17:22 pm
No reply from bitcoinindonesia

Ah, Akado. Sorry for not including you. I have added you to the team roster.
Title: Re: [EBM] Exchange Business Management Team
Post by: Akado on November 28, 2015, 03:12:51 pm
No reply from bitcoinindonesia

Ah, Akado. Sorry for not including you. I have added you to the team roster.

No problem. You can take me off if you want, I'm not really someone who is in constant contact with exchanges. I just send the ocasional email from time to time. Most times with no reply so..
Title: Re: [EBM] Exchange Business Management Team
Post by: clout on November 28, 2015, 04:54:09 pm
No reply from bitcoinindonesia

Ah, Akado. Sorry for not including you. I have added you to the team roster.

No problem. You can take me off if you want, I'm not really someone who is in constant contact with exchanges. I just send the ocasional email from time to time. Most times with no reply so..

That is ok, Bitcoin Indonesia is not a high priority. Would you be willing to manage our gateways and bridges. As of right now most are community members so they should be more responsive. I would also like to reach out shapeshift and have them support BitCNY once we figure out how to reconcile the losses that Transwiser has incurred.
Title: Re: [EBM] Exchange Business Management Team
Post by: abit on January 10, 2016, 03:31:58 pm
Bump this for @Akado, can also check other posts in this forum with title [EBM].
I'm sad that the author of OP has left for a few days. Some of her/his ideas are very positive and constructive indeed.
Title: Re: [EBM] Exchange Business Management Team
Post by: Akado on January 10, 2016, 03:56:53 pm
Thanks abit.

I posted an update on the Polo thread. It seems it might be too early to get exchanges on board, though if someone wants to try it, I suggest start by the smaller ones as they have the most to gain.

As for providing liquidity I really can't help with that. We already have bitUSd and bitCNY markets on Poloniex and they're dead. We need some market making there.
Title: Re: [EBM] Exchange Business Management Team
Post by: abit on January 10, 2016, 04:10:12 pm
Thanks abit.

I posted an update on the Polo thread. It seems it might be too early to get exchanges on board, though if someone wants to try it, I suggest start by the smaller ones as they have the most to gain.

As for providing liquidity I really can't help with that. We already have bitUSd and bitCNY markets on Poloniex and they're dead. We need some market making there.
Yes, but for market making, we need funds and devs/technical supports and need to face risks. It's not a risk free business.