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Technical Support / Re: How to ignite a Bitshares market?
« on: August 16, 2015, 10:20:55 pm »
Hey Chris,
Your question was highlighted, on the Dev Hangout https://beyondbitcoin.org/bitshares-dev-hangout-bytemaster-on-shareholder-approval-july-31-2105/ and BM has proposed 2 solutions if you want to start a currency.
First solution suggest that you should have more money than all of your currency's users combined so you can be able to buy BTS for your users equal to the price of your currency, plus buy 110% more BTS to make a short position to create the currency.
For me I don't think any startup business can handle this much, as it looks not scalable at all.
On his second solution, BM propose fractional systems where you back only 10%. I don't know whether he meant to reduce the parameter for the minimum requirement for the Collateral rate (if such parameter exists), or actually playing with the price feed to reduce the amount of the Collateral till it reaches 10% of the actual price, which I suppose would hurt the exchange rate between your currency and other currencies (since your currency will have a low value)
Please if I'm mistaken I would be happy to be corrected.
I would love to hear more solutions to how to bootstrap a new user-issued currency on top of BitShares 2.0
Your question was highlighted, on the Dev Hangout https://beyondbitcoin.org/bitshares-dev-hangout-bytemaster-on-shareholder-approval-july-31-2105/ and BM has proposed 2 solutions if you want to start a currency.
First solution suggest that you should have more money than all of your currency's users combined so you can be able to buy BTS for your users equal to the price of your currency, plus buy 110% more BTS to make a short position to create the currency.
For me I don't think any startup business can handle this much, as it looks not scalable at all.
On his second solution, BM propose fractional systems where you back only 10%. I don't know whether he meant to reduce the parameter for the minimum requirement for the Collateral rate (if such parameter exists), or actually playing with the price feed to reduce the amount of the Collateral till it reaches 10% of the actual price, which I suppose would hurt the exchange rate between your currency and other currencies (since your currency will have a low value)
Please if I'm mistaken I would be happy to be corrected.
I would love to hear more solutions to how to bootstrap a new user-issued currency on top of BitShares 2.0
