Quote from: MarkoPaasila on December 15, 2017, 12:51:41 pm

Quote from: yvv on December 14, 2017, 05:24:18 pm

Great news! I have one concern though. It is not clear from the proposal how decentralized will be your bots. Since you plan to use funding through WP, I would expect the resulting product to belong to community and server nodes to be easy to run by anybody. Btsbots is great, but it was ran in a centralized way, and wee see what happened.  Could you make any comments regarding this concern?

We will not provide servers for the purpose. Everyone has to run the bots on their own computers or servers. Many of the market making strategies are suitable for use on computers that aren't on all the time. So it will create a very redundant swarm of decentralized bots, where everyone holds their own keys, and many their own nodes.

So market making pro's can run this on a server, and normal people plus noobs can do it on a laptop. There will be a CLI version and an installable GUI version.

ugh, I'm out.

Doe's ""I'm out" mean you think somethings wrong with the approach, or that everything is fine? If something is wrong, please let me know what. Feedback is what we want.

The draft proposal is very well detailed and thought out.  Especially the payment terms bring credibility: "The received funds will be held in escrow by the Bitshares Foundation, and released at successful delivery of milestones."

-Has any software already started being coded?
-When will the worker proposal be created?

The Proposal will hopefully be made before Monday.

No software has been developed so far under this WP. With some good luck and good will from the community we could start coding right after New Year.

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Bitshares does a horrible job of reporting / P&L anyway (for now), as you can't export your trade histories more than a few blocks back.

This is true, and this is pita. If this proposal would address P&L reporting issue, I would support this worker without asking no more questions, plus offer a donation on top.

We very much would like to include P/L reporting, but aren't quite sure how to calculate profit. Like if you trade in the BTS:EOS market, how would you report profits? You can't do it in USD, because if both go down in terms of USD, you report a loss even if the bot has made a profit. Maybe compare the outcome to just holding the initial balance - and that on a graph over time. What do you think?

How can I address this issue to core and UI developers in order to estimate and create a worker proposal?

I think we lack manpower. The best way to proceed would probably be to find a good developer ( not so easy task ), and make a WP together with him. If we had more developers things would move faster. The community seems pretty positive about funding good work nowadays.

Nice! I actually started to write it too, but never got it finished. Pretty much work. Glad you got it done, and also approved.

Can anyone contribute to improve the article? You have made a really good start, and I would be glad to participate.

If the bot was released open source on github, and could run from Ubuntu, I'd be interested.

If the bot was even hard coded to give a 1% donation from all profitable trades to a hardcoded BTS user, I'd even leave that in there to support the developers myself. Of course anyone could take that out, but if I get 99% profit from using the bot, I'd use it.

We will release it under the GPL or MIT licences, because it will be funded collectively and thus owned by the community. In addition, I wouldn't want to risk my funds by putting my private key's in a black box, so it just must be open source.

We very much intend to make it cross platform. Not just Linux and iOS, but even Windows. :-)

That 1% idea could be a good option if the WP doesn't pass. Thanks!

It sounds good doesn't it? That's the appeal of passive income. It's incredibly powerful. That's what we intend to do for Bitshares.

We will make a Worker Proposal about making liquidity bot software. There already are some alternatives, but we will provide:

User Friendly, Appealing Liquidity Bot software Free for Anyone to Use on BitShares.

When our work is done, people will find an easy to use liquidity bot with several liquidity providing strategies optimized for BitShares. The software will be especially tailored for the average user, for who anything complicated is an insurmountable obstacle. The goal is that every single user can benefit from the bot, and hence, benefit Bitshares.

Solve the Chicken-Egg Problem of Liquidity and Volume

Most people simply hold their coins in a wallet. When they need to exchange for something else, they look for a liquid market. On the other hand, when liquidity providers choose a market, they look for an active one. This is a chicken-egg problem.

Once our work is done, people who would otherwise just hold their coins, will have the road paved for them to provide liquidity in any market. Once people start trading in the new markets, the liquidity providers will earn the spreads. This will help bootstrap lots of new markets.

Improve the Liquidity of Existing Markets

All the markets on Bitshares are incredibly shallow compared to many centralized exchanges. This situation will gradually improve, but with lots of new liquidity providers things will speed up. Time is money.

Better than Letting Your Coins Rust - Passive Income

With most coins out there you can't do anything. They just lie idle in peoples wallets. With a way to make your money work for you, would you not do just that? With user friendly software anyone can put any currency to work. Compounding profits is an incredibly powerful force. We think this possibility will make Bitshares as an exchange very appealing first of all to BTS holders, but also to holders of other coins. Finally Bitshares will have what DASH and many other blockchains have; a way to stake your assets and get a passive income. Even a small income has proven to be a powerful incentive for "staking". People also don't even have to touch BTS, BTC or Fiat. They can earn a passive income of their currency of choice!

Many will wonder if providing liquidity actually yields any profit. Of course this is a very complex subject, but in general you can think of liquidity providing as the opposite of paying a premium. If you want to buy now for whatever price is available, you pay for the privilege. The ones who benefit are the ones providing liquidity. They buy low and sell high. Constantly. Many community members in Bitshares are providing liquidity to the markets, and making some nice profit. Check out the Bitshares Liquidity Group in Telegram. https://t.me/DEXLIQUIDITYBTS

Lots and Lots of Benefits to the Community

• There will be a greater demand for Lifetime Memberships - and referral income
• The extra excitement about BitShares
• Proponents of other cryptocurrencies will be incentivized to provide liquidity on BitShares, while benefiting all three; BitShares, the other cryptocurrency, and the person himself
• Market Depth Charts will look much better, improving the user experience and encouraging trading on BitShares
• Simply more transactions - activity
• Holders will have the incentive to migrate to BitShares from other centralized exchanges
• More people will be exposed to the actual Bitshares, not just BTS. This could result in more voting activity, more word-of-mouth, a more positive sentiment about Bitshares.
• More people will put their BTS on the markets or short MPA's; effectively reducing the BTS supply
• We will have attracted new developers who have become familiar with Bitshares and able to contribute more in the future
• We will better support businesses building on Bitshares, like Bitspark
• The combined effect of all the above might start a snowball-effect, providing the final push over the tipping point

We intend to start working in January.

Please Contribute and Give Your Opinions

This will be a Worker Proposal, and we want community input in order to get it right. After all, the community as a whole should benefit from this more than any individual.

The WP draft is on Google Docs. Feel free to comment and make changes. We will review them. https://docs.google.com/document/d/1z2rMlMiMufHdZEirc8x9lKuqSHvLAsVDOYK3xr4AfYE/edit?usp=sharing

There is also a Telegram group dedicated to this WP. https://t.me/BTSLiquidityBotWorkerProposal

Could we pay some worker in BitUSD borrowed by the committee? That would increase the amount of BitUSD in circulation. Now we are doing the opposite: buying BitUSD from the market to pay for workers. So workers are effectively exaggerating the problem.