conclusion: THEY don't get it! .. too bad .. maybe our fault .. it seems we need to do ALOT more education of "bitshares"

They probably get it

BitPay mainly exists to remove volatility for merchants accepting BitCoin and to speed up transactions for customers.

BitUSD with 10 second confirmations probably makes them obsolete.

  I guess BitAssets are quite different to user issued assets, the best part being BitAssets directly add to BTSX CAP.

Looking forward to BitGold & BitSilver 

great photo! I've used it myself to describe Bitcoin's mining problem

https://bitcointalk.org/index.php?topic=412846.msg4549051#msg4549051

You guys are all acting like Bitcoin is impregnable.
 
If you sort out the pool mining issues, then you guys can act as cocky as you like, but if you don't take the power out of the pools,





                             

I was pulling my hair out back then...

https://bitcointalk.org/index.php?topic=411099.msg4512768#msg4512768

Why is 'centralization of mining' not the no.1 topic that the community is trying to address everyday?

Luckily it pushed me into understanding alternatives like BitShares 

  Cool 

Think of the shorts as usd issuers who cannot run off with your money and are competing to put the most on the line. 

Right now few shorts want to cover because their losses are big and they don't think btsx can go much lower. 

I hope they are right. 

A market maker in my case is someone who doesn't mind a little short exposure because they are btsx bullish.   BitUSD will never surge to more than $1 while there are so many bulls like myself looking for leverage. 

The key is to allow shorts to cover with no fee as soon as possible to provide liquidity for usd holders. 

If people have high confidence that they can sell their usd near a dollar then they will buy.  The problem is that there is not any confidence in that and thus little demand. 

Monday will change all of that.  We will create a trading bot that will buy all the usd it can short at 99.5% of market price.

There will be huge buy and sell walls right near the peg.   

Once those walls are proven then usd holders will consider the yield and utility and demand will come.

Sounds good, this should work and have an incentivising effect for genuine longs too. I'm personally looking forward to a BitGold & BitSilver with more collateral as I was worried about a sudden upside revaluation due to Comex default or something.

However at some point increasing collateral won't create an additional incentive for genuine longs but converting competition from long term shorts who don't mind competing on fees, would. So it seems like there's money and BitAsset demand being left on the table here, though probably best not to over-complicate it.

Either way I won't judge this change by it's immediate effect as I think genuine long demand will build slowly, unless there's a real world financial event, as things like a very stable client, decentralisation of voting stake, as well as just a track record of a functioning BitAsset system may be required to create significant BitAsset demand.

 

Darn I meant to quote the part below but ended up modifying the original statement above

My new prediction

Despite claims that the peg is working BitAsset creation will be minimal. (The share price will languish below $80 million CAP) Over the next few weeks the voices will get louder asking for interest.

Within a week of interest/incentives being added to BTSX the CAP will surpass Litecoin.

If interest/incentives is not added for say a month from now you should also see BitAssets already in circulation starting to fetch prices >2% below the peg on average.

(No economics degree or prediction market understanding, novice trader, don't understand options, contracts etc.. So take it with a pinch of salt but that's my prediction...)

So much for that prediction...   

Perhaps too optimistic...  I see now wallet issues (to be expected at this stage and with such rapid development & innovation), complexity, uncertainty and centralisation of active voting stake are the likely drags. https://bitsharestalk.org/index.php?topic=8416.msg111523#msg111523
So even an optimal incentive system will take a while to attract longs.

I also see they are considering a collateral system now which I think is negative as it will decrease BitYield and while I lack much understanding about shorting and trading, I have to believe the basic logic of incentives will be what ultimately maximises demand around the peg.

Potential issues

In the short term I feel many are disengaging from the development process until there is a stable client, with a simple system and greater certainty.

I also think the developer & co voting stake is or could become more of an issue unless there is a roadmap to get more voting stake into play. (BTC38's BTSX could also be an issue.) as it currently makes DPOS largely irrelevant/superfluous. I also think it's possible the developers with their market skill and knowledge of development issues which currently drive BTSX price will allow them to increase their positions, and while incentivising them, will exacerbate that issue further.

Quote from: Pheonike on September 11, 2014, 09:08:26 pm

I think having the arrows point up and down is misleading. It makes is like something is being lost. The arrows should just be left/right which denotes more of an in/out vs up/down process.

Yes, this.

Yeah graphic is quality but message conveyed is unclear maybe no arrows but have description under title...

BTSX

Directly profit from fees less delegate pay, paid via burning.

(Then list fees)

BITUSD

Directly profit from fees, paid as yield.

(Then list fees)