any reason for bts price rise today?

1. lend out your BTS at 5% for 60 days

if they want to borrow your shares to short, make it costly

Starting from the ideas in threads like this:
https://bitsharestalk.org/index.php/topic,19791.0.html

Here is my plan of ideas that Bitshares needs to execute on in order to succeed. 
This plan involves several parts, some of which can be done at the same time by different people, in parallel.


Part 1: Fix what is broken and add new needed features.
1A: Fix trading fees.  The fee for a cancelled order becomes X, where X is as low as possible, and only exists to prevent spam attacks.  The fee for a completed order becomes Y + Z%.  Z% is initially set to 0.2%, and can be modified by shareholder vote in a delegate proposal.  Y is a small value used to prevent spam, it could be the same as X.  0.1 BTS is preferable imo.
MOST of the trading fees should come from the 0.2% fee!  Not the flat rate that is used to prevent spam!
Lifetime membership reduces these amounts by 80%.  Therefore, a lifetime member pays 0.04% fee instead of 0.2%, which is much lower than almost all the exchanges out there!  This makes lifetime membership attractive.  It makes referring people attractive, since you get a large cut form their trading.  The referral program still works!

1B: Implement margin trading just like poloniex system.  Implement lending system just like poloniex system.  Lending for the margin trading IS the bond market!!  It works great currently for poloniex, so it should work for us, we just have to get it working on the blockchain.

1C: Implement prediction markets. 


The most important thing about this is that we are not reinventing the wheel like we tried to do in Bitshares past, but instead we are taking the trading system and margin system that already works, and is used by all exchanges, and just copying it and implementing it on the blockchain.  We just take what works, and make it decentralized blockchain technoogy, instead of a centralized 3rd party exchange that users must trust, and that gets hacked and loses their funds.


Part 2: Improve the UI. 
2A: Take a poll of bitcointalk users.  Ask them what exchange interface they like best and what they want us to emulate. 

2B: Implement this UI, or license it from a partner, or get 3rd parties to develop this for us.  The bitshares core dev team needs to work on Part 1 of my plan, which is their area of expertise anyway, we really need the UI improvements to come from a partnership or from using or licensing what already exists that people like.


Part3: Attract users.
3A: Make it easier to migrate from 0.9.2 to 2.0.  This will help us get more users (like me!) who are not as technical and had trouble migrating and therefore couldn’t use 2.0 yet.

3B: Referral system kicks in, people promote Bitshares through it, and bring in users.

3C: Continue developing business partnerships, and get these business partners using Bitshares, generating more users, liquidity, transactions, etc.


Part 4: Communicate the plan to the crypto community at large.  Create a roadmap for the creation of these features.  Explain to everyone what we are looking to improve about bitshares 2.0, and why.  Follow the roadmap, and when we reach a milestone, have our marketing guys announce this milestone via press releases, like we were doing this summer.


These four parts of the plan can be done in parallel.  Different people will be working on them.  The core devs are working on Part 1, GUI people are working on part 2, the community plus our business partners plus marketing team is working on part 3 and 4.


Some of these parts are already in motion.  A bitshares team and community working together to achieve these goals and doing a good job to communicate them to the crypto world would do well and regain the traction that we started to have in the runup to 2.0, but lost after release. 

We need traders to buy in to what we are doing.
We need to provide traders something that works well and is a good experience.
We need to listen to their comments that they dont want to pay fees for cancelled orders, and they want the UI to be simpler to use.
If we do this, traders will want to use us because they can avoid getting goxxed, they can cut their fees from 0.2% to 0.04% with a membership, and they can refer people and make money doing it.


Thank you!  I hope that we can as a community discuss and flesh out this plan and perfect it, and then execute on it and make Bitshares succeed.

great ideas! i agree with most! obviously somethings need to be changed and improved upon, the status quo is not working. i also feel that change and options are slow to take effect. isn't this what 2.0 is all about? where users and delegates get to cast votes and decide what's best?

Quote from: werneo on October 24, 2015, 05:48:00 pm

Quote from: topcandle on October 24, 2015, 04:01:48 pm

Wedge up or wedge down.  What's ur guess?

If the price starts to hug the line between 1345 - 1360, then it will likely go north.  But if it starts to track ~1300 - 1310, then south is more likely. At this moment we are in neutral territory, leaning north.

What I would like to see is a break south, get the shorts all beared up, then a strong reversal back into the wedge.  This would trap a ton of shorts and ignite a big squeeze higher...

i'm a huge fan of a short squeeeez! the tighter the better.... they've been making a ton from the last month anyways ;p

have anyone lost their 2FA access on poloniex? hope there is a way to rest and restore access... i have already submitted a support ticket...

great video!