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Messages - Crypto Kong

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16
Could you explain exactly how you will use this on your exchange and the estimated demand for the service provided etc. This way we can get an idea of initial usage, I'm all up for adding features to BitShares but a certain amount of research needs to be carried out so we aren't paying for features that will never be used. Thanks.

17
Stakeholder Proposals / Re: Proxy:B-DEX
« on: April 03, 2019, 12:10:49 pm »
Good stuff

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18
General Discussion / Re: Introduce CEX in governance?
« on: April 03, 2019, 09:36:47 am »
I will also add that i agree with steffan that getting centralised exchanges involved is not a good idea.

We have big whale voters in bitshares, often many of us disagree with them. I have disagreed many times with bitcrab and alt on various things but understand it is just a difference in opinion and that both want bitshares to succeed.

We are often more vocal on things we disagree with than things we agree with but we are one community, we should keep voting in the community and not include CEX, they do not have our best interest at heart.

We need a more competitive platform for proxies, the answer is to get more community involved in actively voting.





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19
General Discussion / Re: Introduce CEX in governance?
« on: April 03, 2019, 09:24:26 am »
There should be a collective push from all sides of community to create a decent platform for people to promote themselves as proxies. A social media style website with proxy profiles and easy voting, perhaps with Beet used so a click on the website alters the blockchain.

Some kind of incentive should also be considered to get more people to become proxies where you benefit from gaining proxy votes and loose benefits for losing weight for example.

There is a lot of BTS in circulation that is not voting, we need to incentevise voting.

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20
General Discussion / Re: Market fee sharing for BitAssets
« on: April 03, 2019, 09:07:26 am »
Its a nice idea in theory... but risks just giving away fees for little gain... id rather see a maker taker fee schedule implemented.
I believe a simple maker/taker fee is in the pipeline
Fantastic!

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21
General Discussion / Re: Market fee sharing for BitAssets
« on: April 02, 2019, 10:02:00 pm »
Its a nice idea in theory... but risks just giving away fees for little gain... id rather see a maker taker fee schedule implemented.

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22
General Discussion / Re: Add "close long" feature?
« on: April 02, 2019, 09:56:15 pm »
Good idea

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23
General Discussion / Re: Review of OMO
« on: February 25, 2019, 11:24:47 am »
I will also add that stabalising the price of BTS would make everything else we wish to tackle with regards to improving our markets far easier. Less people would get called with a more stable collateral, smartcoins would keep their peg better, more people would feel confident increasing smartcoin supply with a more stable collateral.

Also worth mentioning that the more assets we pair BTS with such as gold and silver, the less influence BTC will have on price. We need to deepen order books on other market pairings, not related to crypto.

BitCNY may well be more liquid and in some peoples opinion not need market making program but we still need to resist price change to create stability, in as many markets as possible.

We have some very intelligent people in this community but I cant help but think a lot of you are over complicating things, looking for a technical answer to all our problems. Lets get back to basics and make a real effort to stabalise the price of BTS and lay some decent foundations to build upon.

With a volatile, unpredictable base asset we are gonna be constantly fighting an uphill battle.

24
General Discussion / Re: Review of OMO
« on: February 24, 2019, 07:40:53 pm »
We've had a thorough discussion of this in the chat yesterday, and here are some points:

C. First use the funds to revive GS markets.

A lot of people believe that the GS events happened due to market manipulations by OMO and BSIP42 exacerbating the situation, as modified feeds disincentivised buying out of margin call orders.

As for how to proceed further:
Liquidity providing via dexbot sounds like an interesting idea, but we need clear rules on how it is going to happen, and automated contingencies on what to do when market begins rapidly falling or rallying. On traditional exchanges, liquidity providing works like this: MM is obligated to keep preset amount of liquidity in the books, until certain volume obligations are met. Then it can remove one of the sides.

Before we even start, we need to agree on what percentage of the funds can OMO use daily, and do a daily check if it was profitable or not (which is okay).
In our case we need something like that to happen once the market begins moving, for example. Bot places 30 orders on both buy and sell sides, but starts removing them from one side in case 10 of them are taken on one side, without getting an order taken from the other side (or something like that).

During sideways market provision of liquidity might be profitable. During movements contingency rules would limit the amount of loss. In case of profits I suggest some of them are taken and put back into the reserve pool, with the rest going to OMO fund, and its percentages readjusted accordingly.

If the strategy for the OMO is explicitly talked about, and clear then I would support such decision but not before.

The DEXBot staggered orders strategy basically places buy and sell orders in a given range lets say $0.03-$1.00 at say 2% increments, these orders would stay on the books as long as the operation continued. Every time a sell order is filled it is replaced with a buy order 2% lower. Profits get compounded which increases order sizes, making the strategy more profitable. Which basically means that the longer the strategy runs the more liquidity will be provided on both sides of the book via increased order sizes. If price wants to pump (or dump) it has to fight through added resistance of the DEXBot orders, once it fills those orders they are replaced with ones on the other side. Resistance turns into support. This helps to stabalise the market by resisting price change. More liquidity, more stability.

The longer the operation runs the more liquid and stable the market becomes, once we have solid foundations in place we can then start talking about advancing market operations to more sophisticated strategies such as perhaps increasing smart coin supply. Until we have solid foundations, there is little point.

The only real consideration for setting up a staggered orders strategy is the range in which you want it to work, the last thing you want is price leaving the range you are set up in as then there are no orders providing liquidity around the price, no accumulation and increasing of order sizes and no resistance to price change. With it being a long term strategy, it is pretty simple to select a range that price stays within.

25
General Discussion / Re: Review of OMO
« on: February 24, 2019, 07:30:30 pm »
I am considering to restart the OMO fund operation.

I believe that the market fee income should be used in supporting the smartcoin ecosystem. we learned lessons in the past 10 months, so I think we need to update some essential setting of the fund.

first, it will not get BTS through worker proposal, it will only get the market fee of smartcoins for operation.

here are 2 policies for the operation of the updated OMO fund.

Plan A:
1.BTS buying orders can be placed only when there is margin called orders stayed.
2.BTS selling orders can be placed only when the smartcoin has at least 0.5% discount.
3.smartcoin borrowing is not allowed.

Plan B:
1.BTS buying orders can be placed only when there is margin called orders stayed.
2.BTS selling orders can be placed only when the smartcoin has at least 0.5% discount.
3.smartcoin borrowing is allowed, but the margin call price of the debt position should always be lower than the global settlement price, anytime the margin called price is above global settlement price, all the available liquidity should be used to reduce the margin called price.

Plan A is conservative, it just buy and sell BTS, do not borrow.
Plan B is a little audacious.

maybe we can begin with Plan A, Plan B is for subsequent discussion.

The fact that you seem to think keeping a margin call price below global settlement price is safe shows me that you have learned nothing. As price goes up so does the global settlement price, therefore by your own new rules you will end up being called again should a bull market turn into a bear market as it is quite obvious you will keep the ratio just below GS price, increasing your call price as price rises. You even state it in the above quote "anytime the margin called price is above global settlement price". How would that happen unless you were tightly following GS price?

Like I said before in the thread before you started OMO, call price (for USD) needs to be around 2 cents. We would be hundreds of thousands of dollars better off had you paid any attention to my comment. It's about time you started listening to others around you.

The use of DEXBot takes the decision making away from people like you who seem to struggle with quite simple market dynamics. Our markets cannot be fixed easily, there is a lot that needs to be improved but increased liquidity and more stable markets is a good start. DEXBot does this by resisting price change, any filled sell orders turn automatically into buy support and vice versa.

If you don't want to run DEXBot, go ruin bitCNY with your reckless margin trading. We will make our own decisions for bitUSD.

26
General Discussion / Re: Review of OMO
« on: February 17, 2019, 07:24:44 pm »
I have a better idea. Forget about OMO and turn off market fees on bitassets.

With the use of DEXBot staggered orders all market fees would be turned into liquidity providing orders which continually increase in size through the compounding of profits from the back and forth of price.

This is the simplest, safest, most efficient way forward for open market operations.

27
General Discussion / Re: Review of OMO
« on: February 17, 2019, 06:57:40 pm »
Under no circumstance should borrowing be allowed.

To keep things simple have you considered setting up a DEXBot staggered orders strategy and using fees to continually top up the balance. This way any gained fees will always stay as orders providing liquidity and also stabalise the market by resisting price change.

Using DEXBot would also remove any decision making from yourself (or any single person) and parameters could be agreed upon by the community.

DEXBot can be ran from a free server setup by the comitee and once parameters agreed all that needs to be done is the account topped up with fees.

28
Stakeholder Proposals / Re: Proxy:baozi - proxy for anti-dilution
« on: December 29, 2018, 12:26:25 pm »
Anti-dilution will help increase BTS price, support! It's good for all of you who are holding BTS, I don't understand why you are against alt
Dont be so naive. "Anti-dilution" might make sense if development didnt come to a stop and public nodes werent shut down but it will and they will be.

If this proxy really cared about BTS price then tell me... What is it doing to support price? Why are there no bids to revive bitUSD? One of BitShares prized assets. Surely the revival of this asset and re enabling of the borrowing function would have a positive impact on price?

If price of BTS is the issue here, which it must be, then why are we not talking of ways to add value to BitShares. Instead this proxy aims to cut off BitShares arms and legs.

This is sabotage and nothing more, they are not interested in doing anything good

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29
General Discussion / Re: Marketing Proposal
« on: December 07, 2018, 05:26:56 pm »
Apparently youtube drives most traffic to exchanges followed by twitter. https://www.theblockcrypto.com/tiny/youtube-drives-the-most-traffic-to-cryptocurrency-exchanges/

30
General Discussion / Re: Marketing Proposal
« on: December 06, 2018, 08:44:31 pm »
I'm happy to see a marketing proposal. Start small, grow from that. I understand using twitter might be argueable, but it's a reasonable start.

Question I have is how to establish an "official" bitshares marketing brand, that is sanctioned through a worker proposal, and also how to indicate that properly.

I'm not sure I understand what you mean by establishing an official marketing brand... Glad to hear that you are open to at least attempting some social media marketing, starting small and seeing how we get on. It's a step in the right direction IMO, we cant just carry on doing nothing.

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