and done!

CNY is now the biggest asset on the BitShares exchange!

ok now it's time to short some bitUSD to keep the competition alive!

NullStreet Journal recent edition showcased all the work the Delegates are doing.

As far as merchant adoption goes.. I think historically part of the issue has been the ongoing development of bitshares to the point that it has not been easy for merchants to get tools to work with. Beyond this though there was also the lack of onoff ramps.. this effectively locks any kind of transactions in the BTS space.. or you could convert to BTC and then to dollars to pay for product and end up with spread losses and transaction charges that end up keeping credit cards just as a better solution.

There is a Delegate though who has developed a series of ecommerce plugins for bitshares bitassets. Again though, without onoff ramps it makes it extremely difficult for a product seller to accept the process unless you are a fanboy and willing to take those extra measures.

It's only very recently that things have improved and infrastructure steps are being made.

I myself have programmers working on something I created called SAFE that will become a system for merchants to utilize in their business that combines our DEX market while removing the need for coupons and discount codes from their marketing. I know that sounds cryptic, but details on it are coming soon in a webinar.

Then, there is of course the power of your VOTE. Look at the projects that each delegate represents and if you feel it has value and they are trustworthy and capable in their execution, simply vote for them to join the 101 and get hired by the blockchain to bring that value to bitshares. Projects I am involved with related to delegates include:

VOTE: delegate.dposhub-org - DPOSHub - The source for delegate news and information for the community and worldwide media. More on this will be announced soon.

VOTE: http://vote.bunkermining.com - MineBitShares AKA BunkerMining - We currently have referred more real users and brought more real utility to BitShares than any other project.. and we only scratched the surface in proof of concept. Now we need to expand and with further funds and development can double bitshares volume, increase transactions, and drive new users to bitshares from POW, create a new standard for measuring profitability instead of by BTC, and create a new index system that will become a new measure of the crypto space. Think of it like the S&P of crypto. We currently have 1 of 6 new delegate bids we are seeking to be voted in so that we can build this all faster and move into profitability and then leave our delegate positions asap.

There is also what I am doing with www.bunkershares.ca as you can see from my profile.. that however is not a delegate bid.. it will mean however massive exposure and a real case study for bitshares adoption in a real bricks and mortar business.

So I guess like C4E said.. hope you are prepared to help build your investment if you see a viable cause you can contribute too.. go for it.

Thanks so much for the info...I really need to get up to speed on the delegate projects, so will start there. Looking forward to hearing more about SAFE

The on/off ramp issue is the big one to me. Broad merchant adoption would likely require a low cost way to immediately convert bitUSD to USD (or any other currency/bitasset pair), and like you said the current conversion process is too uncertain and therefore costly, making 3% fee credit cards a better option. So I think long term it'd be good to start thinking about a USD-BTS-bitasset exchange.

Quote

I think pushing the tech out to merchants is what'll eventually drive big liquidity.

Yes, there is absolutely no reason why merchants could not accept BitAssets. Furthermore, I wouldn't mind receiving BitUSD or BitCNY as compensation for jobs I perform for others.

Yeah for people like us in this forum accepting bitassets is a no-brainer, esp bitUSD/CNY at the moment (hopefully a lot of others as liquidity improves!); but what we need is something like BitPay to help non-crypto-savvy merchants get on board...it has to be super easy and convert to USD or other local currencies w/out slippage. 1 bitUSD should almost exactly = 1 USD for a merchant at PoS.

Quote from: cylonmaker2053 on May 31, 2015, 11:21:22 pm

we really need a lot more liquidity in this system!

https://soundcloud.com/beyond-bitcoin-hangouts/beyond-bitcoin-05-29-2015-dev-hangout-s3#t=11:39

Great talk on liquidity, thx. I think pushing the tech out to merchants is what'll eventually drive big liquidity. We're kind of just tinkering with speculation at the moment with bitassets, but once they start getting demanded by merchants for trade then we'll see a nice natural market developing around the pegs with trading margins shrinking.

damn, I'm gonna have to take the time to research Dash, I thought it was just an anonymous coin but now that I see they're developing it and wanting to do more with it I may have to find some cash to diversify some into it...

I came to the same realization a couple weeks ago and started upping my stake. Plus, their rebranding from DRK opens up an entirely new market...

Right now it would cost me $1382 in bitcoin to buy 1000 bitUSD using blocktrades.info

It would cost me $1433 in bts to buy 1000 bitUSD using blocktrades.info

That massive premium to buy bitUSD is because very few bitUSD longs are selling and none are selling even close to the peg.

we really need a lot more liquidity in this system!

The existing market value is really close, so when will CNY take the lead?

June 1 ! maybe

only 800 are missing.

haha well i just opened a bitCNY short to help out the competition

Quote from: cylonmaker2053 on May 30, 2015, 10:07:28 pm

Cool, thx @Permie ...good article btw.

I'm always on the hunt for new data...BTS and bitassets haven't yet really hit the merchant scene (BTC is still a baby in that arena too), but what about data aggregator sites for BTS or bitasset trades? like price/volume stuff?

http://bitsharesblocks.com/

https://cryptrader.com/

awesome, thx again @Permie