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Messages - bitstopia2049

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61
General Discussion / Re: bitusd peg
« on: May 29, 2019, 01:55:22 am »
Quote from: sschiessl on April 01, 2019, 12:51:43 pm
Requested to link this from bitstopia

https://imgur.com/a/PVGXxYm

In case you missed it...This was an interesting data analysis... 

https://steemit.com/bitshares/@paws1t1veev/analysis-of-bitusd-global-settlement

https://www.dexbot.info/2019/05/21/understanding-trading-activity-and-potential-causes-of-bitasset-settlement/

one of the conclusions/suggestions...

Allow BitAsset issuance to be backed by other Coins…

Yes, This is a change in one of the core BTS principles. However, BTS may fail if it does not adapt. Allowing a diversified holdings of coins (BTC, LTC, ETH, BTS, and more) could improve stability of BTS. In Investing, there are very few free lunches. Holding a diversified portfolio is one of the only “free lunches” in investing.

Given the current crypto bull market sentiment...wouldn't it make sense to for a BSIP to be put up for a vote to accomplish this..?...

The BTS price is not rising at the same rate along with the rest of the crypto market because there is insufficient demand

so how to generate more demand?  and how else to enable traders/market makers to increase the amount bitUSD into existence?

Maybe then the foundation's marketing or a more vigorous and innovative marketing worker can offer this as a stable coin to a national consumer retail chain that wants to increase it's market share versus Amazon, reduce transaction costs, and have a secure, time-tested, fast, energy efficient payment processing application, with smart contracts and all the advantages over fiat currencies...

Or just wait to end up like Toys 'R US

or SEARS   https://www.usatoday.com/story/money/2019/04/18/sears-lawsuit-eddie-lampert-esl-investments/3507382002/

or..

Why can't I buy this stuff with bitUSD?

https://shop.yang2020.com/products/math-hat
https://shop.yang2020.com/collections/apparel

(Since first debate is June 26 and June 27 I suspect that people will be buying more after these dates..)

62
General Discussion / Re: bitusd peg
« on: April 21, 2019, 12:28:36 pm »
Quote from: sschiessl on April 21, 2019, 07:21:30 am
Quote from: bitstopia2049 on April 21, 2019, 01:16:47 am
Quote from: pc on April 03, 2019, 04:34:11 pm
I guess it's hard to make you happy.

They have what seems like a cumbersome aspect to their donation procedure " a 15 minute phone call"..   

https://www.cnet.com/news/cryptocurrency-needs-governments-help-says-presidential-hopeful-andrew-yang/


My pro-bitshares alter ego says there's a way to automate it with a BTS wallet .   Am I wrong?    Would it require a BSIP or not?
Maybe a dev could answer that question...that would make me happy

An automated process could persuasively illustrate the fundraising cost savings.. energy efficiency & security of the DPOS system as well as the laissez-faire foundation of crytptocurrency

Fundraiser would be nothing more than creating a new token, possible create some nice UX for it and sell it / give it away, no BSIP needed.
Thanks for your reply..
How does creating a new token incorporate compliance with their contribution rules ?
https://docs.google.com/forms/d/e/1FAIpQLSdytCf7EoM2IPF26w-6HTqg1Sib7nwu5eMXRsThwMm7cKAPAA/viewform


63
General Discussion / Re: bitusd peg
« on: April 21, 2019, 01:16:47 am »
Quote from: pc on April 03, 2019, 04:34:11 pm
I guess it's hard to make you happy.

They have what seems like a cumbersome aspect to their donation procedure " a 15 minute phone call"..   

https://www.cnet.com/news/cryptocurrency-needs-governments-help-says-presidential-hopeful-andrew-yang/


My pro-bitshares alter ego says there's a way to automate it with a BTS wallet .   Am I wrong?    Would it require a BSIP or not?
Maybe a dev could answer that question...that would make me happy

An automated process could persuasively illustrate the fundraising cost savings.. energy efficiency & security of the DPOS system as well as the laissez-faire foundation of crytptocurrency


64
General Discussion / Re: bitusd peg
« on: April 19, 2019, 07:16:04 am »
Quote from: sschiessl on March 19, 2019, 06:46:50 pm
Please voice your wishes, suggestions or ideas for the marketing worker in a constructive way, I will happily listen.

Stefan see what I was predicting both in the PM I  sent you on 3/20 and earlier in this thread...

What better way to demonstrate his Democracy Dollars concept  than right now establishing a Bitshares UIA as I described..

first debates are 6 weeks away....it's an opportunity to reach thousands of early adopters and average, but motivated (non-crypto) people and build awareness or at the very least create a single purpose BTS wallet..! 

(I don't know exactly how DOGE or Crypto Kitties got started..but sometimes it just takes a little spark..)

https://www.yang2020.com/blog/3-dc-rally/

Examples :

Andrew Yang made his CNN Town Hall look easy   (16 mins)
https://www.youtube.com/watch?v=w72n4SAC7m0

Restoring Democracy Andrew Yang Town Hall with Lawrence Lessig   (81 mins)
https://www.youtube.com/watch?v=kjiHwx6bpkg

65
General Discussion / Re: bitusd peg
« on: April 10, 2019, 10:33:04 am »
Quote from: bitsharesbagholder on January 11, 2019, 01:48:50 pm
is there anything being done to help restore it ?

https://www.spreaker.com/user/8321539/how-things-spread_2

starting @28:54 - 42:10         for those who don't have an hour

====================================
I've wondered what the foundation does  or can do?

How to get your ideas to spread - Seth Godin

https://www.youtube.com/watch?v=xBIVlM435Zg


66
General Discussion / Re: bitusd peg
« on: April 04, 2019, 01:32:07 pm »
Quote from: Thul3 on April 04, 2019, 06:43:36 am
Quote
Action taken earlier might have been perceived differently given that bitUSD was in GS status for months

I wouldn't through random assumptions when the "whale" who bought the majority of the BTS from the auction was one of the people who was most active, tried everything and even invested a lot of his own assets to not let global settlement happen.I haven't seen you being active like him to prevent that global settlement.I remember it where the "whale" even come to bitshares dex telegram group asking to take together actions to prevent this situation.

Haven't seen your support at that time.

I am not a member of the dex telegram group so I would be unaware...I will take your word that the whale has good intentions and I wish him well. I'm just voicing my opinion on this particular action at this moment in time.   Now that he has more at stake he should be leading the way to advocate for something different like..hmm...I don't know....maybe "hiring" DeCEO..

67
General Discussion / Re: bitusd peg
« on: April 04, 2019, 01:22:53 pm »
Quote from: pc on April 04, 2019, 06:14:16 am
The intent of BSIP-18 is not to allow people to do something good for the community. Its intent is to provide a mechanism for revival, and incentives to use it. This has worked out nicely.

Bidding "at the last minute" makes sense, economically, if you want to acquire as much from the pool as possible. Just like on ebay, bidding early only drives the price up. IMO this behaviour is neither benevolent nor malevolent. It can be called selfish, but that's OK - we're acting in a market here, and participants are expected to act selfish. That's just how things work.

Note that the bidders has also accepted a significant risk with this investment. If the BTS price drops again, he might lose all of it.

I was not criticizing the quality or design of the mechanism of revival...A taxi is not intended to be used as an ambulance...but if circumstances warrant it then the vehicle can "allow people to do something good for the community"

I understand your perspective.... i.e. from a developer's view it was "nice" to see BSIP-18 work...but I suspect that most BTS holders would have preferred that the situation never got to that stage...sort of like how most flight attendants know the various emergency routines and where the exit doors are located, etc...but would be perfectly happy to go an entire career and never have to use them..

So I acknowledge it makes sense from a personal gain perspective...but the context here is trying to EXPAND the universe of BTS users...After all why did bitUSD go into GS status in the first place?
Bringing an Ebay sniper's tactic to this particular auction, under the circumstances, IMO is not positioning oneself with the best risk reward ratio...Sometimes "less is more and more is less"

The bidder could have increased his/her/their wealth just as much if not more, if BTS market cap goes from $150m to 500m or more without taking all that risk if the bidder had a different philosophical outlook, rather than the typical Wall St. attitude.  Spread the risk (among more people) means also spreading the reward.

 I mean don't you see the irony here given that Bitshares was created based primarily on a philosophy that was decidedly non-selfish?  "we're acting in trying to revive a market here,"

 It will take a collective effort to raise the BTS market cap to a level that it deserves...If you constantly raise the level of cynicism and or deprive people of incentives to participate just because you can..

..Well...He who has the gold rules...until there's nothing and no one left to rule.

68
General Discussion / Re: bitusd peg
« on: April 04, 2019, 02:02:38 am »
Quote from: pc on April 03, 2019, 04:34:11 pm
I guess it's hard to make you happy.

Quote from: bitstopia2049 on January 12, 2019, 11:14:19 pm
How could a benevolent whale participate (if such a person exists!) even if he or she wanted to?

Quote from: bitstopia2049 on April 03, 2019, 09:56:39 am

Let the whales work...they could have easily remained on the sidelines during the bitUSD revival auction and let minnows and others participate...but they could not resist flexing their muscles

Thanks for your reply...It is not really about my happiness...I want the idea of DECENTRALIZATION to succeed...I want BTS to succeed..If I was selfish or mercenary in my disposition I would have lost interest in BTS a long time ago..

Benevolence:  the quality of being well meaning; kindness;

I find it hard to believe that submitting a bid on $3.8m of debt at the last minute (figuratively speaking) and blowing everyone else out of the water would be associated with "benevolence"…If there was some kind of "Robin Hood" intent underlying the action ..Well...I don't see it.... this just comes off as a plunderous stunt.

Action taken earlier might have been perceived differently given that bitUSD was in GS status for months..  My rough estimation -  ONE account acquired ~92% and another dozen accounts ~7%...So roughly 10 people (or groups) acquired 99% of the debt.   Is that really the size of the Bitshares universe?

I am not implying ALL whales have piratic intentions…but clearly if the idea is to entice users to expand the realm of BTS and acquire advocates across the globe, this was a chance to do that organically and at the same time show the resiliency of BTS and the extent of community support....   Some opportunities only come along once..

69
General Discussion / Re: bitusd peg
« on: April 03, 2019, 09:56:39 am »
Quote from: pc on April 02, 2019, 05:55:31 pm
FTR - BitUSD has been revived a couple of hours ago.

Thanks, I noticed...

Whales are short sighted in their avarice...why?   They did not allow the bitusd revival to incent more people to participate in bts development/improvement

They gained more..but at what cost?      Why should I or others contnue to volunteer ideas, suggestions, etc.. when it seems like a small group of people are only interested in becoming obscenely wealthy and care for nothing else...

Earlier in this thread I mentioned the Yang campaign and my prediction ...He is picking up momentum.

https://www.youtube.com/watch?v=GZJiZC89HBc

Central Banks Are Failing, Will UBI Work?


Yet I received no reply, action, suggestions for follow ups....certainly not from the WHALES (or their reps) who found the time to vacuum up most of the bitUSD debt..

They have the most to gain with BTS improvement..so why not set up a multi-sig wallet and contribute a tiny fraction of their wealth to pay for a DeCEO?   

Schieesel posted the graphic I drafted to start a discussion...

Let the whales work...they could have easily remained on the sidelines during the bitUSD revival auction and let minnows and others participate...but they could not resist flexing their muscles at a time when BTS needs more and more people contributing ideas, energy, curating and distributing information and having a stake in BTS ascension...

That's what marketing is...bringing more people into the BTS universe and showing them its capabilities and brilliance..  It is supposed to be perceived as a leader in decentralized exchanges and DAC's..not the just simply another manipulated playground. So at the moment my feeling is, given their recent actions, let the whales work...they own the most, so they should work the hardest (or hire someone to do so)...

70
General Discussion / Re: bitusd peg
« on: March 30, 2019, 01:28:59 am »

Quote from: Brekyrself on March 29, 2019, 04:29:31 am


Thanks again.

I misunderstood the steemit article thinking by bidding the system was providing additional collateral as incentive to bid however the bts received at the end of the day is just what you would get by selling bitusd at a certain price?

Using the system before GS was simple, borrow bitusd with safe CR, sell bitusd at market price for bts.  If bts went up in price, your in the green, if it went down, your in the red.

That brings up the question with bidding. in the UI there is the label of "bid price."  Does this mean that if the system revives and our bid is included that is the price we borrow and sell bitusd for bts at?  Or is the price the system revives at where bitusd is sold for bts?
[/quote]

Yes....the Settlement Price

NO the bid price is just for ranking purposes and to determine if your bid will be included when the revival happens, several bidders could outbid you for example and push your ranking down..After the revival it is up to you when, how  or if, you want sell the bitUSD...The BTS price will be going up and down per usual trading activity...

71
General Discussion / Re: bitusd peg
« on: March 29, 2019, 03:03:29 pm »
Quote from: sschiessl on March 19, 2019, 06:46:50 pm
Please voice your wishes, suggestions or ideas for the marketing worker in a constructive way, I will happily listen.

So I sent the PM in here to you on March 20th ? 

To Moderator:  Does this forum allow for posting of a  *.png   graphic?   or do you have to be a Senior Member? 

72
General Discussion / Re: bitusd peg
« on: March 29, 2019, 02:53:13 pm »
Quote from: Brekyrself on March 29, 2019, 04:29:31 am


@bitstopia2049 & clockwork, thank you for the replies.

Please confirm the following hypothetical bid for BitUSD

mcr 1.75
GS 0.051
Debt I will take 10,000 bitUSD
Additional Collateral I provide 400,000 bts
CR 59.608
call price would be 0.029

Based on the formulas and bitUSD revives with my bid being inclusive, I am essentially "rewarded" an additional 200,000 bts as collateral in the long position?
[/quote]

I think the easiest way to approach it to make it less confusing..is to settle on what level of CR you want and then work from there...

Let's say upon revival you wish to maintain a minimum CR 3.00 with 10k debt position;  Settlement price = 19.55496 bts/bitUSD

So you will need in total $30,000 in collateral.
and the revival price is 11.17426 bts/bitUSD   (without bids)
So total BTS required = 335,228
The collateral associated with 10k debt in the settlement fund = 195,550
Therefore additional collateral required  =  139,678 with your starting call price =  0.02983 bitUSD
and your bid position  13.96 bts/bitUSD  and  CR  =  0.831

Always keep in mind however that you are taking on debt,I wouldn't consider the settlement collateral a "reward"....It is a bet.
You can do the same calculation using the revival price including bids if you want.

73
General Discussion / Re: bitusd peg
« on: March 28, 2019, 03:38:59 pm »
Quote from: sschiessl on March 19, 2019, 06:46:50 pm
Please voice your wishes, suggestions or ideas for the marketing worker in a constructive way, I will happily listen.

Stefan I sent you an email

74
General Discussion / Re: bitusd peg
« on: March 28, 2019, 03:37:57 pm »
Quote from: Thul3 on March 28, 2019, 01:49:46 pm
Quote
Does anyone have any experience with this exchange?   Can the foundation make a proposal to them to add BTS-USD pair..?

Huobi has a BTS/USDT pair.
Since they got now a USD/USDT pair it shouldn't be a big problem to exchange them anytime.
Will have a look at it.

Great...it would certainly help to be able to refer people to a direct US fiat to BTS on ramp...

USDT  had a BIG problem in the US...Wells Fargo Bank cut off all fiat transfers and deposits for US citizens between Hong Kong..I think and US...

I don't have much time now (work) but will check later .

75
General Discussion / Re: bitusd peg
« on: March 28, 2019, 03:33:58 pm »
Quote from: clockwork on March 28, 2019, 01:21:00 pm
Quote from: bitstopia2049 on March 28, 2019, 01:12:22 pm
Quote from: sschiessl on March 19, 2019, 06:46:50 pm
Please voice your wishes, suggestions or ideas for the marketing worker in a constructive way, I will happily listen.

https://cointelegraph.com/news/united-states-crypto-platform-huobicom-launches-fiat-crypto-trading

Does anyone have any experience with this exchange?   Can the foundation make a proposal to them to add BTS-USD pair..?

A direct fiat USD/BTS on ramp would be a major boon to a revamped Bitshares marketing campaign...

Obviously the sooner bitUSD is revived the stronger case the foundation can make...

Also..


https://www.newsbtc.com/2019/02/21/underestimate-samsung-galaxy-s10-crypto-millions-exposed-bitcoin/

I wonder if this announcement by Samsung had any influence on the BTS price spike on Upbit Exchange...Is Samsung aware of BTS' superior capabilities. ?

Is there a bitKRW asset? 

US$ =  1138 KRW   CNY = 169 KRW

yes there is..not much used though

Well maybe because they don't know it exists...Obviously based on the activity on Upbit Exchange there is a strong BTS interest there...

Can the foundation at least send an exploratory email to Samsung and reach out to them..?   
They are clearly looking for new things to put into their smartphones....they might even be willing to be a market maker in bitKRW... BTS won't succeed if we don't try..

What is the foundation being paid for?

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