BTW.. the title of this topic is a lie.

we - bitshares community - should name things properly. We should stop overpromise things. Right now this is at most a Proof of Concept.

(1) Why did you choose USD:BTC, not USD:BTS?

I agree with @Akado answer.

(2) Do you mean to create both a buy and sell wall, or just one side?

In general, both sides. Some people will be interesting in buying bitUSD, other want to buy bitBTC. For sure some of us want to even borrow some BTC or USD and short it by borrowing and solding them. It will be ideal day to tray to do so.

(3) How will the participants be protected from this event: a selfish whale comes along and takes advantage of this liquidity and dumps a big amount onto the wall?

I do not expect a wall. I think I will create some small orders near the feed price, and some bigger orders to try buy BTC or USD 1-2 or 3% below its feed price. I expect that something more like that:



So we should try avoid creating a wall. Everyone should order only this amount of BTC or USD, which he or she want to buy. I assume, that right now people are not doing that, because right now creating an order do not guarantee that it will be filled, but you still need to pay a fee for creating an order.

I also assume, that people do not leave open orders, because on bitshares, there are no such things like moving-orders, which should stay open for example 1% above price feed. What can seems like a good price in day when I create order, could be actually a bad price few days later when order can be filled. It is very difficult and expensive to track and set open orders.

In the day of Liquidity Event, you should expect that your order should be filled if you will set a competitive price.

So emphasizing the fact that "Everyone should order only this amount of BTC or USD, which he or she want to buy" this means that if a big whale came along and it will fulfil most orders, this should only make people happy

My thinking is that we need to make as clear as possible that this is a testnet and it's tokens are worthless.

I agree. But I would like to treat a testnet like a staging environment, where things should be as close as possible to real network. Maybe an alert/reminder after loading a page would be enough?

Calling them USD and pegging them similar to BTS:USD is counterproductive imho ..

In my opinion we have too many assets, what is very confusing for new users. For example, we have BTC, openBTC, metaBTC, etc. now we are going to have even more assets in the testnet, like PEG.FAKEBTC, because without making a pegged assets there is no possibility of creating those assets by collateral. Am I right?

---

Original post:

We all know, that bitshares is a great product, but it cannot shows it's greatness, because we have chicken egg problem with liquidity and new users. In my opinion we don't need a liquidity on all markets. We just need one solid market, and other should emerge later.

All statistics about bitshares says, that together we all have a lot of money. Why we just not create an order on selected exchange all in the same time? We should have instant liquidity. In my opinion the perfect market for that is USD:BTC.

To encourage people to be part of this event, we could fund a prize. Something what bring an attention of all bitshares users - $1000
[edit] most of people in the pool said, that they would take part in that event even without a prize, so I think for now we don't have to use it.

I assume that we could filter all transaction from specific day, to get all transaction ids from finalized transaction on specific market. This list of ids should be an input to the previously written algorithm, which with given seed (for example, hash of the last transaction in specified day) should select exactly one account.

I think perfect date for such event is: 29th Feb 2016 - once you hear about liquidity event date, you should not miss it!

29 days it's a lot of time, to advertise this among whole cryptocurrency community.

This is a proposition, but please consider it seriously. In my opinion it is worth a shot. Maybe this is not flawless, so we should think about all bad and good sites of this, to polish this idea.

There is a PEG.FAKEUSD for that purpose and it should have a price feed.

I will not use USD to make clear the those tokens are worthless

Testnet in my opinion should looks like ideal place to trade assets. USD:BTC exchange should behave like a real exchange. All assets like USD, BTC, EUR, GOLD, SILVER should have price feeds. Ours bots should provide a liquidity for those markets

In my opinion we should just add the reminder about fact, that this is just a test network to footer of wallet. We already emphasize that with URL address. Additional information (more elaborated) could be in deposit-withdraw section.

I like the idea ... but on the DEX, every transaction costs REAL money!

but right now with MIT licence, we can create a fork for that. We would need only some kind of authorization, to not give virtual coins 2 times to this same person.

As you can see from my profile, I came here after long break. My question is... what about test bitshares network, which we all agree, that this would be great for demo purpose.

bump