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Messages - jsidhu

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106
General Discussion / Re: My plan for how to make Bitshares succeed
« on: November 06, 2015, 01:34:19 am »
I strongly feel integrating mt4 would make it much more usable and allow them to focus on just a crypto ui ehich is much easier to get right. This would help liquidity instantly.

107
Is there any way that we can partner with someone and get their interface (give them BTS referrals as a result, and maybe payment as a worker or something), and thus get a good interface quickly, instead of you guys having to build one?  Because that would both happen faster and would probably be better than having to cobble one together.
Mt4 is already built.. You just need to plug and play, feeds are even provided but we would provide our own

108
I think the advanced trading interface (screen shots provided) is terrible for 99% of crypto users / traders.   But it may well be the best for technical traders / day traders.

I think that if our interface looked like what I saw above we would be getting all kinds of complaints from far more users.   The interface is just too busy. 

I am not saying that we shouldn't have such a product.

I think we should look at etrade, etc as examples.   The market for the interface shown above is willing to PAY big dollars to have something that has every bell and whistle.

I can see tremendous value in making the exchange data available in a format that is easily integrated with external interfaces.
Dont pass off an application without using it. Im telling you it works, and you are dismissing things that it offers like ddoss protection and cross platform as well as cross form factor like mobile apps that are intuitive. Ive used it so I would know, and so have others (prediction market in action). Theres a reason why its the goto trading app form99% of the retailers trading forex.

Also you need to do a usability analysis, if you did you would realize that a trading interface seperate from crypto interface may make sense. This way traders can use a trading interface without worrying about other things and crypto functions can work without interference of a trading interface.
Although etrade is nice, metatrader is nicer and alot more third party friendly (it was built for that)

The reason it applies to bitshares are because mpa and ability to do cross symbol trades like eurusd etc.. That would bring in retail forex market of a few hundred million $, the btsusd btsbtc and crypto markets would bring in crypto traders.

109
General Discussion / Re: Bitshares price discussion
« on: November 05, 2015, 12:33:48 am »
Given that I know some same whale will always dump BTS after I post something bullish to make me took bad, I sold 1.2 btc worth in 850+ range before posting and bought back.

Having a personal whale you can manipulate simply by posting a word or two is a powerful thing!

Use it wisely!


Totally. It definitely seems that some whale out there attempts to do the opposite of what I say.  Maybe I am just being paranoid.
Ur paranoid.. Market will always do opposite of what the herd thinks.. Its how moneyis made most efficiently.

110
Yeah, okay. Well, THAT's a trading engine, isn't it? So I guess that's what our GUI needs to look like if we're going to attract serious traders?

No, we don't need that GUI. BTC-E is compatible with it but most people don't use it.
I would say you just need a sufficient GUI which right now we don't have yet. We don't even have a troll box yet.
Thats still using a central broker.. Not sure if they add commission.. But yes it is being used and it is very usable for average people. I personally dont trust it because who knows what they do on the server side to screw with the feeds.. With an open source dex you wouldnt be able to do that.
If it were a dex it would attract serious money because now you have safety and usability.

Btw take profit and Stop loss orders are emulated in metatrader mostly as they are done client side.. With take profit if the market doesnt really go there brokers tend to requote so if we had native support for tp and sl it would be even better (in the dex).

Getting into the business of a cross form factor gui that pleases everyone is a sure fire way to fail at even getting to first base to outsiders. It takes years and years of back propogation and feedback loops to get right.

111
General Discussion / Re: Bitshares price discussion
« on: November 04, 2015, 06:14:23 pm »
The application model needs to change.. Instead of one gui to do it all you would offer a gui for the cryptqo stuff like sending recieving, privacy, referrals and account management, which the current gui is great for.

Then youd offer the dex over the cli which it does but do a metatrader4 bridge to the api for dex trading. You simply point people over to the client download for the dex and the wallet gui for crypto stuff.

Forex traders would be all over it especially since they can do their own account management, deposit withdrawls without trusting a broker!

I was thinking the same thing... All we would need is to get a metatrader license and may have to do some basic programming to access the API with the metatrader platform.  As far as deposits and withdrawals, I think we would have to point the trader to a deposit page on the openledger wallet.
I was thinking they dont need another broker, unless processing fiat, but once in crypto they can do their own account management in the bts crypto wallet. Whatever their crypto wallet balance is, would show up in metatrader4.

The metatrader idea is a good one.  I envision many such interfaces developed on top of the Bitshares platform.  But that should be done by by 3rd parties. And I think it will come in time.  But as far as the default wallet goes, we just need a good-enough trading interface, privacy features, properly set fees, and truly pooled liquidity.  I hope people can start getting behind these ideas:

https://bitsharestalk.org/index.php/topic,19724.msg253654.html#msg253654
I think we need to seperate dex from crypto account stuff... By depending on a third party to do this you now have a trustful relationship and higher fees through commissions (unless they use referals as revenue model entirely).. You only need the on and off ramps to be trustful.

112
General Discussion / Re: Bitshares price discussion
« on: November 04, 2015, 04:43:46 pm »
The application model needs to change.. Instead of one gui to do it all you would offer a gui for the cryptqo stuff like sending recieving, privacy, referrals and account management, which the current gui is great for.

Then youd offer the dex over the cli which it does but do a metatrader4 bridge to the api for dex trading. You simply point people over to the client download for the dex and the wallet gui for crypto stuff.

Forex traders would be all over it especially since they can do their own account management, deposit withdrawls without trusting a broker!

I was thinking the same thing... All we would need is to get a metatrader license and may have to do some basic programming to access the API with the metatrader platform.  As far as deposits and withdrawals, I think we would have to point the trader to a deposit page on the openledger wallet.
I was thinking they dont need another broker, unless processing fiat, but once in crypto they can do their own account management in the bts crypto wallet. Whatever their crypto wallet balance is, would show up in metatrader4.

113
General Discussion / Re: Bitshares price discussion
« on: November 04, 2015, 04:35:37 pm »
The application model needs to change.. Instead of one gui to do it all you would offer a gui for the cryptqo stuff like sending recieving, privacy, referrals and account management, which the current gui is great for.

Then youd offer the dex over the cli which it does but do a metatrader4 bridge to the api for dex trading. You simply point people over to the client download for the dex and the wallet gui for crypto stuff.

Forex traders would be all over it especially since they can do their own account management, deposit withdrawls without trusting a broker!

Theres no server side manipulating price feeds which is the weakest link of mt4.. Although some brokers might stand up their own whitelabelled metatrader clients for uia trading, this would essentially remove the brokers from the trading paradaigm and replace it with a decentralized exchange.

Then if we do have brokers joining us we can stand up super servers so we can actually hit 100k tps and show that trades are happening in real time across multiple brokers, but really its the customers of these brokers we are winning over. They just need to pay the $100 fee howver we can market a discount to join for say 6 months to reducd barrier for entry when it is most important.

114
General Discussion / Re: Bitcoin Blockchain showing its weakness?
« on: November 04, 2015, 07:16:17 am »
The network is a settlement chain.. There will be micropayment channels for these things going fwd, unless bm can prove that these arent secure enough and justifies creating faster settlement confirmations.

115
General Discussion / Re: Bitshares price discussion
« on: November 04, 2015, 07:05:37 am »
I leave town for one day and you all let the bottom fall out.   

If there is a market need for what BitShares solves then BTS has a future.  If there isn't a market need then it will remain small serving a niche.  The need for BTS is in times of crisis where decentralized exchanges are needed because all of the centralized exchanges fall down.

.. then lets make try and make the front end as easy and intuitive as possible for the non technical folks who dont give a damn about trading and just want to salvage whatever worthless dollars they still have in to gold and silver. [/color] I can do this in less that 5 clicks with bitreserve.

BM just said bitshares gains it's value from being an exchange when all centralized exchanges fail... that would lead me to believe we should skip making it for the average idiot, and tailor it to traders.

Metatrader 4 is the best trading platform I have used.  It's intuitive yet advanced.  Indicators are easy to write in mql4 and the barrier to entry is low.  There have been thousands of indicators created by regular traders.  I know people think poloniex has a great interface, but to tell you the truth, it's garbage.  It's boring, plain, and isn't even on par with basic broker platforms from companies like e-trade much less something like Metatrader.

If I showed the current interface to forex traders they would laugh.  There are no indicators(not even a moving average), no ability to zoom or pan, orders can't be executed by clicking on the chart, there is no line on the chart indicating where your open positions cost is, no active P/L, no grid option, no dynamic scaling, no ability to change bar colors, no ability to change to line or OHLC style charts.  And I can't stress enough that if you want to appeal to traders you need to be able to accommodate stop and take profit orders for open positions!  This is by far the main and most important thing to get functioning if you want traders.  Most of the other stuff a trader doesn't absolutely need to trade, but they need stops and take profits.

Seriously just look at metatrader 4... download it and open a demo account from one of the dozens of forex brokers that use metatrader as their platform (I use FXCM and Forex.com).  Give it a test run and you will see what trading platform needs to be at a minimum.  Unless we don't want traders, then all this is null and void.
You can even use mt4 as a frontend with any server side clearing software that plugs into the api... So you can use bitshares as the server giving trade information to mt4 which executes the trades and allows backtesting and algorthmic trading and development. This is a great idea... Ive said 100x gui coding is harder than you think unless you become a gui programmer. So leverage guis that work and mt4 clearly does.

116
General Discussion / Re: Bitshares price discussion
« on: November 04, 2015, 01:18:24 am »
This feels like a turning point for bitshares in particular and crypto in general. BTC holders just made a ton of money and in the near future they could make lots more. If the past is any prologue, within the next two years, the price of btc could potentially increase by x25 from where it is today. After that a new global class of digitally wealthy people will form.  BTC will fuel the nascent fintech industry because it's the lifeblood for funding altcoin/2.0 projects everywhere. As BTC reaches a critical mass in price, wealth will start to pour into 2.0 projects like bitshares and all of our wildest dreams will be realized in a flash. Right now I think we are witnessing the turning of the tide after 2 years. This is the darkest hour and probably the best time to hold and buy if you can.
Yea i feel that too... Ppl thinking dump alts buy btc but it will be alts and btc rising together if its going to be real and not chinese pump n dump

117
General Discussion / Re: Bitshares price discussion
« on: November 03, 2015, 03:57:38 am »
Do I hear 1200? 1200, going once, going twice... What? 1000! 1000, going once,... 800?! Oh my!

Price is irrelevant. There are still plenty of weak hands that gave it a final go and are now very bitter. It's OK. It's just how it works.

I don't think Stan's or Dan's comments/articles full of hype/hope will have any effect anymore. I admire the optimism, but no.

BTS hype is over, I believe that now the only thing that can take it higher is real utility and that will take some time to truly develop.

For that reason, I'm mostly out. Enjoy the ebbs and flows. I'll be waiting way, way, waaaay lower to get in. I could care less if it quadruples from here short term. I don't think it will be a sustainable jump even if there is one.

Good luck everybody! :)

Just because...
Aslong as they keep developing price will always recover sooner or later

118
General Discussion / Re: BTC38 and Yunbi
« on: November 03, 2015, 03:55:33 am »
BTC38 just claimed their cold wallet balance!!!

https://bitshares.openledger.info/#/block/577336

"btc38-public-for-bts-cold claimed a balance of 228,449,248.32348 BTS from balance ID #42386"
This happen before the dump on polo?

119
If bts38 proves that their wallet balance is correct and no ponzi scheme is happening (highly doubtful) then im sure community would help them.. Seems to me they are delaying until they are forced.

120
General Discussion / Re: Would an economic crisis benefit BTS?
« on: October 27, 2015, 04:00:18 am »
Only if market pegged assets are still functioning in external world.. If usd exists then yes

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