Thanks guys!  We plan to eventually do some market making to help bootstrap trading....hopefully soon.

Introducing a counterparty-free smartcoin exchange

Hello Bitshares community!

Thanks to Cryptonomex, svk and the Bitshares community the Bitshares exchange GUI is rock solid and continually improving. Thank you guys! This has enabled us at BitCash to tweak the GUI and create a very focused Smartcoin exchange we are calling BitCash MegaX! It will first allow people to trade Bitshares for Bitcoin using a BTC smartcoin and also trade Bitshares & Bitcoin with both a BTC & USD smartcoin! No counterparties! We won’t custody any assets! It will be a Smartcoin Exchange! You can check out the alpha version of our exchange at: https://bts.bitcash.org. Right now we have a few small orders in the Bitshares/Bitcoin exchange, but feel free to start trading and start creating a cash.BTC & cash.USD supply! We plan to start making the market for the other two pairs soon. Here is a GUI screenshot

How do the smartcoins we use compare with bitBTC or bitUSD?
Our design is different as described here “Introducing: CASH.USD …. where one is worth $1” In short the maxium short squeeze ratio is 100.1% and there is no forced settlement. It’s very favorable for those that want to create a long term supply of smartcoins and that’s incredibly important for our ecosystem! Witnesses provide the price feed.

How can you help create supply?
As mentioned above all you have to do is click on the Borrow CASH.BTC or CASH.USD button on the upper right of the trading screen and provide sufficient BTS collateral. There is very little risk creating supply and selling cash.BTC for BTC. You can charge 0.1% to 1+% to go back and forth between the two. It’s better than having your BTS just sit there! You’ll make money! Just create a supply and be a bridge! You won’t be manually forced settled and if you don’t have enough collateral your positions will be sold at the price feed! It’s that simple and you should have peace of mind. If you’re a longstanding member of the Bitshares community I’ll be happy to exchange one cash.BTC for one BTC anytime!

Let me know if you guys have any questions. Hope you guys check out and support BitCash MegaX, the Counterparty-Free Smartcoin Exchange!

Also posted on Steemit

Hey guys.   Didn't notice this thread, but we created CASH.BTC.  It is a smartcoin without a counterparty.  The plan is for people to trade CASH.BTC for BTC. 1:1 and for other people to create their own supply of CASH.BTC.  We also plan to set up a bridge so it's easy to go between the two.    We have an alpha website for the exchange at:  https://bts.bitcash.org

Check out our post here: ** [ANN] BitCash MegaX: Counterparty-Free Smartcoin Exchange (alpha) **

Have a good day!

Discuss moving the Bitsharestalk.org forum over to Steemit (From Steemit post)

Hey all. As we can all see the Steemit platorm is progressing well and many of us are excited about the great potential. There may have been some disappointment that Bytemaster shifted his focus to Steemit instead of Bitshares, but over time I think more and more in the Bitshares community will discover how the success of Steemit can be a great boon for the Bitshares community. Most people here are from Bitshares anyway so might as well bring everyone else over and work together to make both projects reach its full potential!

Here are some of the top reasons to move:

1. Steemit Is A Great Platform for Forum Discussion.
It’s easy to read, has great UI/UX, has collapsable threads and more. There is already discussion of moving the Bitsharestalk forum to use new software. I liked Bitsharestalk because of the familiarity, great discussion and memories, but there is a time and place for everything and I think it’s a perfect time to be reborn on the Steemit platform.

2. Synergy
Bytemaster invented and is vested in both Steemit and Bitshares. The success of either will enhance the other. The Bitshares decentralized exchange is a natural bridge/gateway/exchange platform for STEEM and STEEM dollars to trade with all the many other cryptocurrencies out there!

3. Working Together As A Team
First off, it’s far more convenient to use one forum than go back and forth between the two to read the same content. We will be diluting our time, resources and efforts using two forums. Again many of us STEEMers are from Bitshares anyways. Oftentimes independent-minded individuals like many of those in the Bitshares community like to do their own thing and that’s great, but many other times it’s better and necessary to work together as a team. I think this is one of those times.

4. Replacement for Bitshares Worker Proposals
It was extremely difficult funding Bitshares projects with the DAO for a variety of reasons, but Steemit allows Bitshares contributors to be rewarded for a wide range of projects and even just valuable ideas!
Just look at the potential for Bitshares-related projects here:
BlockTrades
SmartcoinPOS
BeyondBitcoin Hangouts

…and we’re just getting started! Steemit can be a large part of the funding mechanism we’ve been looking for all along to foster and grow the Bitshares ecosystem!

So what say you Bitshares community?

I generally agree @bitcrab that a lower offset is good.  I'll take it one step further and say forced settlement is unnecessary.  We designed CASH.USD to do exactly this for the reason @bitcrab mentions.   If the committee decides to lower the offset and disable forced settlement there would be no reason for CASH.USD and we would use bitUSD.  If only the offset is changed and nothing is done with forced settlement then we'll probably still continue on with CASH.USD.

It would be great if we didn't have to run our own.  Would the committee members consider the offset as bitcrab desires and also remove forced settlement?  Read about CASH.USD here (https://bitsharestalk.org/index.php/topic,22192.msg289691.html#msg289691)

These are experiments and it may be fine for now to run in parallel, but it would be good to know where the community and committee stand on this. 

   I like the idea of a crypto-basket ETF!

great initiative.

I personally would rather bitBTC be the collateral.

Thanks @JonnyBitcoin!

Yes it would be great to also have bitBTC or CASH.BTC be collateral especially if we get the sidechain initiative going.  Imagine we can create over $3 billion+ in monetary liquidity with Bitcoin as collateral!  That kind of liquidity would be useful for countries!  I also imagine we can tweak the core code to allow multiple types of collateral at the same time or if outside the core code somehow bridge CASH.BTC into BTS to satisfy the collateral requirement. 

wazzup @merivercap ? how i can be of assistance?

Hey great to see you back @cass!  We need help with the dollar symbol and probably need to make it an image/svg instead of using css.  I'll reach out with a PM.  Thanks!