Show Posts

This section allows you to view all posts made by this member. Note that you can only see posts made in areas you currently have access to.


Messages - biophil

Pages: 1 ... 31 32 33 34 35 36 37 [38] 39 40 41 42 43 44 45 ... 59
556
General Discussion / Re: Interest on BitUSD - A Proposal for Review
« on: September 05, 2014, 07:12:37 pm »
Quote from: Riverhead on September 05, 2014, 06:56:57 pm
Quote from: biophil on September 05, 2014, 06:44:35 pm
Quote from: Riverhead on September 05, 2014, 05:52:38 pm
Quote from: MeTHoDx on September 05, 2014, 05:43:03 pm
1) What are your thoughts on putting the "daily burn" toward BitUSD? This way, there is more electoral control over the interest rate.

2) Does this apply to all BitAssets or just BitUSD specifically?
Wouldn't that create unbacked bitUSD?

No, since you could use the burned BTSX to purchase bitAssets on the open market. It would be pretty cool, no? You'd have constant buying pressure for bitAssets.

Sent from my SCH-S720C using Tapatalk 2


So said another way the burn rate isn't sending shares off into oblivion but being donated to the network to pay out as dividends/interest to bitUSD holders? That's pretty interesting. It could't be all of it though as the burn rate is the only mechanism to reduce supply.

Yeah, so burn some and convert others to bitAssets. Some of the burn is implicit dividends for BTSX holders, some is explicit dividends for bitAsset holders.

Sent from my SCH-S720C using Tapatalk 2


557
General Discussion / Re: Interest on BitUSD - A Proposal for Review
« on: September 05, 2014, 06:44:35 pm »
Quote from: Riverhead on September 05, 2014, 05:52:38 pm
Quote from: MeTHoDx on September 05, 2014, 05:43:03 pm
1) What are your thoughts on putting the "daily burn" toward BitUSD? This way, there is more electoral control over the interest rate.

2) Does this apply to all BitAssets or just BitUSD specifically?
Wouldn't that create unbacked bitUSD?

No, since you could use the burned BTSX to purchase bitAssets on the open market. It would be pretty cool, no? You'd have constant buying pressure for bitAssets.

Sent from my SCH-S720C using Tapatalk 2


558
General Discussion / Re: Interest on BitUSD - A Proposal for Review
« on: September 05, 2014, 06:40:33 pm »
Quote from: bytemaster on September 05, 2014, 06:27:49 pm
Quote from: bitcoinerS on September 05, 2014, 06:25:13 pm
A side effect of paying variable interest to BitUSD holders, which depends on income levels generated by BitShares X, would be that holders of BitUSD would have incentive to promote BitShares X to others, becoming a special kind of stakeholders in the system.

Exactly!

Well, sort of. There's an incentive in the other direction too: the more bitUSD that exists, the smaller each person's share of the trading profits. What bitUSD holders will *really* want to promote is day trading, since that's where their income comes from.

Sent from my SCH-S720C using Tapatalk 2


559
General Discussion / Re: Interest on BitUSD - A Proposal for Review
« on: September 05, 2014, 04:39:49 pm »
Quote from: Riverhead on September 05, 2014, 04:31:08 pm
Quote from: tonyk on September 05, 2014, 04:24:48 pm
Quote from: Riverhead on September 05, 2014, 04:16:53 pm
Just so we're clear: This is not interest it is a dividend. The holders of bitUSD are participating in a revenue sharing plan. Also, paying out half the revenue as a dividend and retaining the other half as the insurance fund sounds good. The theory that people will look at their dividends as insurance if something bad happens I don't think will fly. The dividend is earned revenue and they'll be upset if they find one day that it needs to be used to bail out the market.


Other than those points I LOVE this idea. It makes a truly compelling case to hold bitUSD.

It has a lot of the elements of a dividend, I agree. I am thinking how to represent it to the people. 'The interest is not truly fixed, but for the last mo/3 mo/ etc it was X%' I do not know, do not like that way too much neither.


Why not represent it as a revenue sharing plan? The market makes money off YOUR bitUSD and gives you a cut. The more money the market makes off your bitUSD the more you make. Nice and simple once we get away from referring to it as Interest. Interest to me is someone paying you a fixed, agreed upon, rate to use your money. That's not what's going on here.

Agreed, you could package it like interest, but there's very little fundamentally that makes this interest. It is revenue sharing, plain and simple. Presenting it as revenue sharing makes it obvious that the "interest rate" is negatively correlated to the quantity of bitUSD, which makes it easier to see that it's not a Ponzi scheme, nor is it inflationary, nor is it price-fixed.

Sent from my SCH-S720C using Tapatalk 2


560
General Discussion / Re: The Market Peg Works!
« on: September 05, 2014, 02:29:46 am »
+5% for jakub!

Sent from my SCH-S720C using Tapatalk 2


561
General Discussion / Re: Nxtty going +5% monthly
« on: September 05, 2014, 12:13:41 am »
Quote from: CLains on September 05, 2014, 12:01:31 am
https://bitcointalk.org/index.php?topic=735878.0

Has anybody looked at their tech?

I'm guessing this 5% thing is an inflationary marketing stunt like the recent storj promotions?

Sent from my SCH-S720C using Tapatalk 2


562
General Discussion / Re: The Market Peg Works!
« on: September 04, 2014, 11:37:16 pm »
Quote from: svk on September 04, 2014, 11:05:58 pm
Quote from: bytemaster on September 04, 2014, 09:43:26 pm
Quote from: liondani on September 04, 2014, 09:36:53 pm
Quote from: svk on September 04, 2014, 09:06:00 pm
Great news :)

For some visual information about how this works, I've added shorts and the 90% rule for shorts to my asset pages, check it out:

http://bitsharesblocks.com/assets/asset?id=USD

Btw you can click on "Bid","Ask" or "Short" to enable or disable a given series, oh and I added the "reserve fund" info as well :)

thanks for your efforts man!

Some suggestions: 
    remove the "point boxes" in the depth chart.
    display "shorts" as a 3rd volume on the depth chart that has "2 colors"... one for those over the median and one for those under.  We are adding this for the built in wallet.
    I would love to see a price history chart.   

1 and 3 done! Splitting the shorts will have to wait, but you'll find the price history below the market depth info! I used the hourly data only for now, looks like it's good enough.

That asset page is starting to get a little messy now however, will have to clean things up a bit next, but going to bed for now.

Looking great! this will be fantastic for on-the-fly peg checking :) Could you also put the option of overlaying the real-world USD/BTSX price on the graph so that we can see how close the peg is holding? Or, putting a USD/BitUSD chart might be even better.

563
General Discussion / Re: Demand for BitUSD: What are the low hanging fruit?
« on: September 04, 2014, 02:21:03 pm »
Quote from: AJ on September 04, 2014, 10:33:49 am
Quote from: Markus on September 04, 2014, 09:51:57 am
The market cap of BitUSD will always be zero because the net amount of BitUSD issued is zero.
Currently there are about +490 000 BitUSD long and -490 000 BitUSD short.

Okay that makes sense. Curious, why 490k +/-?

Do you mean why 490k, or why (+/-)? It's 490k because that's the number we happen to have at the moment. The number of bitUSD is constantly fluctuating, and currently trending upwards. When someone shorts bitUSD, that bitUSD is created. When someone is subject to a margin call, their bitUSD is destroyed.

As for (+/-), that's because each bitUSD is essentially a loan; if I create bitUSD by shorting it, Im borrowing that bitUSD from the network. Now someone out there owns the bitUSD that I just shorted to them, and I owe a bitUSD debt in the same amount.

Sent from my SCH-S720C using Tapatalk 2


564
General Discussion / Re: bitUSD Feeds And Limits
« on: September 04, 2014, 01:47:27 pm »
Quote from: nikauforest on September 04, 2014, 10:00:25 am
Quote from: emski on September 04, 2014, 08:23:36 am

I think that such bitUSD/BTSX volatility is not beneficial for the system and it would only produce panic.

I think limiting the shorts at 110% of the price feed will prevent BTSX/bitUSD price volatility and might be better for the system.
Essentially there will be forced market peg and trade might cease during high volatility periods and resume afterwards.
The other option is force-cover as Bytemaster suggested.
Is there any other?

if you stop trading every time there is volatility, you no longer have a market that is worth participating in. Imagine the being locked out and not able to execute. That will cause people to turn away from using the system.

I have noticed on the NXT asset exchange mgwBTC : NXT spreads have narrowed dramatically over the last two weeks. More users are causing the spread to narrow. There are no limits or rules and the system is getting better.

I like the bitshares platform but you cannot force a market to behave the way , you the developers want.  or you may get the market to behave the way you want, but you will have fewer market participants. Are you going to try and impose rules on every pair within the system?

mgwBTC is backed by actual BTC. You deposit BTC, and then they send mgwBTC to the AE. It's a fundamentally different animal than bitAssets. The only thing that mgwBTC needs to track the value of BTC is that trust needs to be maintained in the people who run it.

565
Technical Support / Re: How much is a Bitshare Satoshi
« on: September 04, 2014, 02:51:51 am »
Pretty sure it's just the 5 digits.

Sent from my SCH-S720C using Tapatalk 2


566
General Discussion / Re: How to start the market of bitUSD please read *EVERYONE*
« on: September 03, 2014, 01:48:54 pm »
Quote from: bytemaster on September 03, 2014, 01:45:56 pm
Quote from: biophil on September 03, 2014, 01:44:24 pm
Quote from: Troglodactyl on September 03, 2014, 01:29:27 pm
Quote from: trader on September 03, 2014, 01:15:19 pm
Quote from: Riverhead on September 03, 2014, 01:08:05 pm
Are you sure you're on 0.4.11-RC1?  What does get_info say on the console?


On the market screen you should see four boxes across the top: Median Price, 1hr Average, Your Balance, and something else I forget (on my work VPN so can't log into the client right now).


If you don't see Median price on the top you're not on RC1.

get_info shows: "client_version": "0.4.11", yet I dont see the median at the top of the market screen. Ill try doing a clean rebuild just to be sure.

I can confirm on 0.4.11-RC1 downloaded from https://github.com/dacsunlimited/bitsharesx/releases I have no median price at the top, and overlapping but unmatched orders are still unfiltered in the bid and ask boxes.

Same thing here. Looks identical to 0.4.10. Are you on windows? I just used the *.exe from the URL you posted.

I bet DAC Sun forgot to update the web gui before they built it on Windows.   The Mac GUI is right for 4.11.

I figured that must be it since other people were fine.

567
General Discussion / Re: How to start the market of bitUSD please read *EVERYONE*
« on: September 03, 2014, 01:44:24 pm »
Quote from: Troglodactyl on September 03, 2014, 01:29:27 pm
Quote from: trader on September 03, 2014, 01:15:19 pm
Quote from: Riverhead on September 03, 2014, 01:08:05 pm
Are you sure you're on 0.4.11-RC1?  What does get_info say on the console?


On the market screen you should see four boxes across the top: Median Price, 1hr Average, Your Balance, and something else I forget (on my work VPN so can't log into the client right now).


If you don't see Median price on the top you're not on RC1.

get_info shows: "client_version": "0.4.11", yet I dont see the median at the top of the market screen. Ill try doing a clean rebuild just to be sure.

I can confirm on 0.4.11-RC1 downloaded from https://github.com/dacsunlimited/bitsharesx/releases I have no median price at the top, and overlapping but unmatched orders are still unfiltered in the bid and ask boxes.

Same thing here. Looks identical to 0.4.10. Are you on windows? I just used the *.exe from the URL you posted.

568
General Discussion / Re: 0.4.11 Release Candidate Testing
« on: September 03, 2014, 03:21:48 am »
Thanks tonyk and drltc for the explanations. I like it.

Sent from my SCH-S720C using Tapatalk 2


569
General Discussion / Re: 0.4.11 Release Candidate Testing
« on: September 03, 2014, 12:28:53 am »
Can someone give a quick back-of-the-envelope rationale for change number 2 (or point me to the discussion)? Does "the peg" mean the median price feed? So now we should expect a discontinuous market price: if we're right at the peg, as soon as someone places a bid a tiny bit above the peg, some short 10% below the peg matches him? Sounds like it could get very confusing for traders.

Sent from my SCH-S720C using Tapatalk 2


570
General Discussion / Re: First Bitshares clone... Botshares on Dogeparty
« on: September 03, 2014, 12:22:54 am »
Quote from: eagleeye on September 03, 2014, 12:06:46 am
Quote from: CoinHoarder on September 02, 2014, 05:08:24 pm
Except there will be no FIAT

http://dogepartytalk.org/viewtopic.php?f=16&t=47

 +5% +5% +5% WINNER WINNER Chicken Dinner.   (I say this because this is what hedge fund traders and floor traders say on the NYSE when they win.

Why am I saying this.

why does it have to be just bitUSD, why cant it be bitPotato and be geographically targetted.

Haha, where'd you come from, eagleye? You remind me of that old MemoryCoin guy "tomorrow." Are you tomorrow?

Sent from my SCH-S720C using Tapatalk 2


Pages: 1 ... 31 32 33 34 35 36 37 [38] 39 40 41 42 43 44 45 ... 59

Page created in 0.028 seconds with 23 queries.