Isnt the way to encourage a rally to take BTS OFF the exchanges? - make it scarce.

When a new user wants to get into bitshares, what they will do is to look at CMC for which exchanges have any volume. If there's no exchange with any BTS/BTC volume then theres no way for them to get in. They'll give up and will not become a new user.

Trying to "encourage" a rally by reducing liquidity and volume is probably about the most counterproductive thing you could do.

On the other hand if we take a price rally and turn it into higher liquidity and new users, then it will become something that actually gives us long term value, which is the only thing we are interested in.

Anyone who is actively trading should be using the BitBTC market anyway.

When poloniex gets goxxed, I will shed more crocodile tears.

not sure if serious...

Despite the recent terrible setback of bter getting hacked I think bitshares could be looking at least at a medium sized rally coming up, since we're currently so ridiculously undervalued.

However if such a rally is to get us any new users we need a way they can easily get into BTS, and unfortunately bter took that away from us. We can't expect new users to go through the painful btc38 user experience, so I think anyone who's actively trading should be moving some of their funds to poloniex so we can get some volume and a populated order book going. This will also have the effect of reducing shapeshifts currently crazy high spread for BTS.

Who's with me in getting some walls going?

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If you want to help fund the liquidity of the bot, then go to the internal exchange and search for CFSUSDA:bitUSD. It is sold like CFSGOLD, 1:1 for bitUSD with a 0.1% fee, and will increase in NAV as the bot makes a profit off market making.

Stupid question : I manage to install 0.6.1 but I can't find CFSUSDA:bitUSD on the internal exchange. Looking under UIA tag and search nothing there. What I'm doing wrong ?

I think you just have to wait and retry later, sometimes the wallet just doesn't show the UIA's.

Could we please have an update. Is the bitUSD bot running at Yunbi?

It's running

All bitUSD received has been sent to the bot, with a small float sitting as open bids on the CFSUSDA order book to buy back.

You can check out the bot here: https://yunbi.com/markets/bitusdbtc

Quote from: Rune on February 18, 2015, 03:13:01 pm

The plan is to reward it in CFSCOIN. It will not be liquid for a while but will gain its value from 30% of the income through a buy&burn bot that buys and reduces supply, increasing price.

Since there's little volume traded for UIAs, what happens in the event I need to sell and there are no buyers?  Or will there be a margin call?  Sorry if that's a stupid question but I haven't read-up on the trading details in awhile.

CFSCOIN will be meant as a long term investment. At first there will likely be no market at all and it will be effectively worthless, until cryptohedge starts to generate enough income to bid up the price.

I see a CFSUSD/BitUSD ......... but no CFSUSDA/BitUSD?

It usually can take a while before new assets show up. Try to restart your client or wait a bit.

Quote from: Rune on February 17, 2015, 06:29:42 pm

There will be an early funder reward for CFSUSDA similar to other CFS assets, but since the bter hack made everything a lot more complicated we won't announce what the reward will be until we know the outcome of the bter situation.

Will the reward be in CFSCOIN?  I'm new to the concept so can you tell me how liquid these assets will be?  I'm asking because the market action on the exchange seems non-existent so it's unclear to me how I can calculate risk.  As I've said before, I'd love to help since the concept of investing in a hedging bot interest me greatly but I'm still trying to grasp the details.

The plan is to reward it in CFSCOIN. It will not be liquid for a while but will gain its value from 30% of the income through a buy&burn bot that buys and reduces supply, increasing price.

How much liquidity do you need (bitUSD) to get the bot started at the YunBi BTC/BitUSD market?

We will put any amount we get on there. Even 1 bitUSD helps.

It pains me to have to ask for more funds while we have client funds outstanding and no idea when, and even how much, it will be possible to pay back.

But the YunBi BTC/BitUSD market is now operational and the market maker bot is ready to create liquidity, but since all of our CFSUSD funds are locked up on bter there's no other way than ask the community for more money. It's important we get YunBi liquid as soon as possible so shapeshift can resume bitUSD service again.

It's hard to say but I do believe that YunBi seem more competent than bter and I don't think we have to fear their cold wallet can get hacked the same as bter's was.

If you want to help fund the liquidity of the bot, then go to the internal exchange and search for CFSUSDA:bitUSD. It is sold like CFSGOLD, 1:1 for bitUSD with a 0.1% fee, and will increase in NAV as the bot makes a profit off market making. Eventually we will merge this temporary asset with CFSUSD once the full situation from bter is understood. We will try to keep a minimal amount of the funds on YunBi, and deposit and withdraw them according to the bots needs.

There will be an early funder reward for CFSUSDA similar to other CFS assets, but since the bter hack made everything a lot more complicated we won't announce what the reward will be until we know the outcome of the bter situation.

Meanwhile we will continue to work on how to get the CFSUSD and CFSGOLD funds out of bter and find out the best model for compensating clients.