1. pay your employees in bitUSD
2. pay your contractors in bitUSD
3. let the bitshares DNS, Votes, Music etc. integrate bitUSD payment from the start - as easy as possible
4. establish an easy way to convert USD in bitUSD - this will bring new money in the system
we need more purpose for bitUSD and everything else will follow
Exactly!
Lot's of truth here!
Edit: Fiat On-Ramps + merchant adoption + best interest we can give without inflation or spending marketing budget on.
Their are 2 arguments at work here.
1. give bitUSD value through utility like the above states
2. add interest/yield to bitUSD
Unless bytemaster knows something we don't and all ready has a plan for option 1 through a deal with a gateway/on-ramp I just don't see the logic of option 2. btsx reached the cap it is at today because of the value of the platform, why wouldn't we apply the same logic to bitUSD?
Well there's money from long term shorts who dont mind competing on fees and not collateral. Assuming two equal systems the one that added the interest from the long term shorts would win, so I'm in favour if adding interest.
In terms of the marketing fund suggestion, I think, again assuming two equal systems, at whatever stage they are, if one had $1 million of promotional funds to subsidize BitYield for the first 6 months it could probably kickstart $20 million worth of BitAsset demand & as a result would most likely be the one that got bootstrapped. So I see the logic there.
I think if you did this in isolation, that is, without any improvement in general BitUSD utility (i.e. converting to fiat and/or merchant adoption), it would not have a great effect. Done in combination I would agree it could be beneficial.
Edit: First thing I did after buying BitUSD as a new user was try to convert to USD and it was not an encouraging experience.