Lost bitassets could be taken care of with the help of demurrage.  It would decrease balances of longers and shorters by same amount with time, and lost balances would eventually go to zero.

Maybe demurrage could solve this particular problem but demurrage is a bad idea generally for a currency we want people adopt whether thats bitusd or BTS.

Quote from: abit on February 25, 2017, 08:10:00 pm

Collateral in lost accounts can be released by force settlement.

Collateral in lost accounts released by force settlement is still lost.

But as stated in original post, losing BTS (the collateral not collateral position) is not an issue. The same way lost bitcoin is not an issue.

Interesting thought. Can you think of any way to provably "lose" the keys to a wallet?

Best thing I came up with was massive multisig account with loads of signatures all of which promise to destroy their accounts.

only 5 witnesses answered the call to action within 24 hours https://bitsharestalk.org/index.php/topic,23826 - as a consequence I deleted my vote for all other witnesses.



hopefully the change to 3bts will bring in some fresh and motivated witnesses. I will gladly add them to my slate.

Thanks, I have added the ones I wasn't already voting for.
Do you know if my share weight is spread across all the witnesses I elect.  Or if i voted for just 1 witness would they get more?

I need a bot that can use Poloniex as current price source. How i can do that?

I would like that too. particularly for USDT:BTC

Quote from: bitcrab on February 16, 2017, 04:04:48 pm

I get some idea, I will try to make below markets:

bitUSD:BTC
bitCNY:BTC
bitUSD:USDT
bitCNY:bitUSD

if these markets become prosperous, then DEX can be a hub to link China BTC traders and the exchanges outside China, and even CNY and USD markets.

maybe bots need to run not only inside DEX, but also with exchanges like polo, bitfinex, yunbi...?

This would be wonderful!  My bots are already linked to all these outside exchanges.

Can you use your bots to essentially mirror the bids and asks from poloniex on to the dex?

We could just upgrade our current forum software (simple machines) from  2.0.9 to 2.0.13

Bitshares is superior to other exchanges because it uses BitUSD which has no human liability and is decentralised.
But this advantage means little if our BitUSD is not available to buy in quantity near the peg.

A liquid asset is cash on hand or an asset that can be readily converted to cash. An asset that can readily be converted into cash is similar to cash itself because the asset can be sold with little impact on its value.


We need to make BitUSD a liquid asset. But how?
 
1.) Focus on BitUSD
We must concentrate trading activity on BitUSD.
There is no point trying to make all our smartcoins liquid assets at the same time as this spreads trades thinly across many markets.
The number of trade tabs on Openledgers GUI has been reduced which is great but the OBITS one still needs to be removed.


2.) Simplify borrowing of BitUSD
Make it more intuitive to borrow BitUSD by adding borrow as an action next to the BitUSD. (update: @svk  has now implemented this)


3.) BitUSD:OPEN.USDT market
The best way to show people BitUSD is worth 1 USD is to create a market where BitUSD trades against a bearer asset that is worth 1 USD.  That would be USDT (see www.tether.to)
Bearer asset = Doesn't need to be kept in a named account.
I am trying to kick start the BitUSD:OPEN.USDT market with $1000 buy and sell walls and a 6% spread. Please take advantage of them or add some orders yourself. This market pair is easy for anyone to be a market maker in because  both assets have the same face value meaning you don't have to trust bot software  because orders don't need updating

 
4.) Maker / Taker model.
This is a model that incentivises people to put up orders for other people to take.
if you take orders off the orderbook you pay more. If you make orders on the order book you pay less. (trade fees)
I personally think at this stage the maker taker model won't help much and will be a lot of effort to implement. there is lower hanging fruit to be had first.

5.)Bots
Bots are bits of software that do automated trading, most trades that happen in the world today are done by bots. These bots are configured by their human owners to do stuff like abitrage or market making. These are essential to liquidity on the dex and their importance is underestimated .
Any coder can create a bot and let others use the software.  @xeroc created a bot in python that is available here:https://github.com/xeroc/stakemachine
But if you're not a developer you can use this web based bot system created by @alt www.btsbots.com
If thats too hard for you see point number 3.) again.
https://bitsharestalk.org/index.php/topic,23457.0.html



6.) Distribute BitUSD

Getting even small amounts of bitUSD in to users hands familiarises them with it and even if they dump it thats still adding trades to the market.
The idea of getting more bitusd out there is a good one and has been discussed many times on this forum. Who to and how is the tricky bit.

As a dividend to shareholders or Lifetime Members: https://bitsharestalk.org/index.php/topic,23706.msg301767.html#msg301767
To pay worker proposals and witnesses: https://bitsharestalk.org/index.php/topic,23028.0.html
Just create Bitusd using from the reserve pool via a worker proposal and then sell at peg: https://bitsharestalk.org/index.php/topic,22935.0.html

bump