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Messages - chigbolu

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106
General Discussion / Re: ANN: VNC-7 DEBT SECURITY TOKEN
« on: April 26, 2020, 08:25:58 am »
VNC7DST is a UIA created to act as a bond on the bitshares platform, users or benefactors who purchase the token are in effect lending money which will be payed back in the form of buy backs.
Traditional forms of borrowing and fund raising require a lot of paperwork and legalities, and are sometimes ineffective for small entrepreneurs, using the advantages of the BTS platform and it's business model, the VNC7DST token is a one stop solution as a digital debt investment on the bitshares blockchain.
Due to a lack of support, I have decided to change my approach, I will be selling all my tokens on the open market at a starting price to be decided later, I am still thinking of the best way of approach in order not to make futher adjustments later on.

107
Now that Openledger has come clean to say they are no longer in service it is now time for Bitshares as an entity to explore other ways of bringing liquidity to the DEX especially for the remaining bridges, Openledgers reasons for closing is that they could no longer meet with the demands of their DEX projects for the customers and due to the current cryptocurrency climate in their host country they had to close shop. This means that at a point they were no longer making money from their investment,this is an exchange that has been existing since the beginning of bitshares which is pretty bad. This also means that the remaining bridges might probably close shop too if the situation continues.
This is why Bitshares as a whole must have some sort of frame work or regulation to forestall a repeat of such occurences in the future, a lack of change in approach may lead to loss of confidence in bitshares by DEX users and newbies who are considering a venture in bitshares and ultimately the death of bitshares DEX structure, there has to be a fail proof way of safeguarding the assets of DEX users, such that the closure of a bridge would not have much impact on the users afterall it is they who provide liquidity on the DEX. The Bitshares token is safe, however, what good is it if it can not deliver on its promise of decentralised trading for all crypto-asset class (Bitcoin and the others).
Bitshares has the solution to this problem already, yes there is already a form of exchange on the DEX that does not rely on  bridge exchanges, a trustless bridge in the form of Hash Time Locked Contracts (HTLC), where users use smart contracts to validate asset exchange without a third party, we also have many gateway services available.
The use of HTLC introduces another form of bridge exchange known as teller exchanges, these exchanges will no longer be custodians of users funds, but will act as an exchange terminal for the bitshares network helping users to have access to the DEX trading functionality without being worried of losing their funds.
How can this be achieved, firstly the bitshares network can create a pseudo asset, a form of security token or semi-fungible asset using the laid down parameters available on the network, say for example Bit.BTC (Must be UIA not a smart asset) which can be traded on the DEX, after issue, the asset ownership would be transfered to null-account so that no one else has control of it, and then the issued coins would be sold for BTS by the bitshares committee through an account set up for this (Current bridge exchanges may be given first right of purchase). This account would be the first seller and will sell the coins in batches according to the market demands and at exactly or almost thesame price as bitcoin, as it is committee owned it is immutable and trust will be guaranteed. Now this is where the tellers come in; holders of the psuedo asset can then post trades on their sites where they are matched with other users who are in need of the asset on the DEX (current bridge exchanges can also perform this service), another way is the use of gateways like blocktrade, atomicpay, gatehub, etc. that will exchange the asset 1:1 for bitcoin at a prescribed fee supposing the user doesnt want to use the HTLC teller method.
Using this pattern future bridge exchanges would no longer need to create their own assets but instead would be given first rights of purchase and special previleges to be able to sell and exchange the assets ( bitcoin for example) to users at reasonable costs. It also makes every user a potential exchange.

108
General Discussion / ANN: VNC-7 DEBT SECURITY TOKEN
« on: April 19, 2020, 11:37:42 pm »
VNC7DST is a UIA created to act as a bond on the bitshares platform, users or benefactors who purchase the token are in effect lending money which will be payed back in the form of buy backs.
Traditional forms of borrowing and fund raising require a lot of paperwork and legalities, and are sometimes ineffective for small entrepreneurs, using the advantages of the BTS platform and it's business model, the VNC7DST token is a one stop solution as a digital debt investment on the bitshares blockchain.

109
General Discussion / Buy Buy Buy 3
« on: April 17, 2020, 06:31:59 am »
Most good traders know that historical support and resistance is one of the bed rocks of making money in trading, this is because those lines show us the point of distribution and the point of accumulation, ie demand and supply, last night I did a little digging into one of my analysis on the 0.016USD level for bitshares, guess what I discovered, it's actually an important level for bitshares, in one of my analysis I noted that below this price level BTS would lose its top 100 market cap spot, and so far it has not lost this level for months now except a few times when the market became very volatile. In conclusion the BTS buy range right now is between 0.017-0.012, it's pretty high but it's due to BTS volatility, the time to accumulate is now cos in the coming months we might not see BTS at this price anymore...

110
General Discussion / Re: Market making contest (main thread)
« on: April 17, 2020, 06:08:25 am »

So, which committee can answer these questions?


Quote from: binggo on March 09, 2020, 12:08:26 am

    Now i must question the Market making contest:

    1. Did the MM have checked the trade volume for so long time?or considered it as a measure of the "liquidity"?

    2. Did the MM have checked the growth rate of new effective users for so long time?or considered it as a measure of the "result"?

    3. Did the MM have a BSIP for the community to vote?or the fund can be used easily by Committee without the vote of the community?

    In a way, the MM became a joke slowly, only have expenditure,nothing gained.
In my own opinion I think the MM contest has not reached it's full potential because of a few reasons, lack of marketing awareness, loss of trust in gateways by many DEX traders, loss of traders to better DEX applications, and lack of stimulus ie small reward to risk ratio especially as BTS price has fallen... And not in any way the committees fault, mind you MM is still one of the programs keeping BTS afloat.

111
General Discussion / Re: BTS TA FOR 12TH APRIL 2020
« on: April 13, 2020, 05:04:02 am »
Currently BTS price is close to 0.018USD thesame levels it was at by this time last month, bitshares traded between 0.013 to 0.019USD  within that time. So far BTS has recovered by almost 30% from the lows of last month, however it currently trying to break the 0.018USD level which has become resistance, failure to breakout may lead to a retest of the 0.013USD support, it still all dependent on bitcoin's performance which has also been good so far. Bitshares has not had any new developments on the fundamental though it is good to know that a few Workers are on ground in terms of development and upgrades, the reduced support for the refund workers shows that there is now confidence in quality of workers being voted... Hopefully a few positive news may boost the price back to 0.04USD and beyond.
First support is still holding at 0.016USD



112
General Discussion / BTS TA FOR 12TH APRIL 2020
« on: April 12, 2020, 04:43:05 pm »
Currently BTS price is close to 0.018USD thesame levels it was at by this time last month, bitshares traded between 0.013 to 0.019USD  within that time. So far BTS has recovered by almost 30% from the lows of last month, however it currently trying to break the 0.018USD level which has become resistance, failure to breakout may lead to a retest of the 0.013USD support, it still all dependent on bitcoin's performance which has also been good so far. Bitshares has not had any new developments on the fundamental though it is good to know that a few Workers are on ground in terms of development and upgrades, the reduced support for the refund workers shows that there is now confidence in quality of workers being voted... Hopefully a few positive news may boost the price back to 0.04USD and beyond.

113
simple solution:

BALLOTS:

chain offers ballots
ballots cost one bts per ballot

ballots are not transferable and non returnable; effectively proof of bts burn.

STAKE:

bts must be stake locked to vote

user specifies days of lock, machine counts down

user may add (but not take away) funds or duration to the countdown clock at any time.

during stake lock bts is non transfer / trade

POWER:

voting power = min(bts locked, ballots owned) * days of stake locked bts remaining





COLLATERAL:

add to that any bts held as collateral cannot be locked for voting.

PROXY:

add to that that proxy decays linearly over 365 days and requires user to vote stake lock their bts against owned ballots for proxy to have power.

RESULT:

Now you want to vote? first you burn a bts to buy a ballot.  It is difficult with custodial funds.
and you want to vote you stake lock on countdown timer. This is also difficult with custodial funds
and if you want to proxy your voting power you are held to same standard.
collateral bullshits occurring are patched 
legally bts is still a required "utility voting token" to fill ballots owned, purchased only with bts

now you want to gamble with the switches in bitshares voting box you have "bts futures" and "burnt bts" on the line, not just proof of momentary wealth. interests in promoting the bts core token price in the future are aligned with votes

you want to be an owner?  buy in and act like an owner.

problem solved


ps move everything to likert scales
That's a genius solution, however I'd prefer staking instead of outright burn, just my opinion though...

114
General Discussion / Re: ANN: HONEST Market Pegged Assets
« on: April 06, 2020, 10:27:29 am »
@litepresence
I suggest the smart coins should be added to the market maker contest even if it's one pair, this may help with liquidity and incentivize people to consider holding the Honest asset.... As currently liquidity and awareness is still poor... 🤔🙄

115
General Discussion / The need for BTS to license bridge exchanges
« on: April 03, 2020, 04:50:03 pm »
From my understanding, bridge exchanges are semi-centralized exchanges that make use of bitshares graphene technology, they are semi-centralized because the UIAs are created on the bitshares chain/network. Aside this advantage they have the features of other centralised exchanges and the owners can bail out with user funds at any time and because owning their UIAs is dependent on trust, thus even though the BTS chain is fully decentralized and trustless, it relies on these bridge exchanges which requires trust for liquidity and more functionality i.e ability to trade other cryptocurrencies like Bitcoin, ethereum etc. Unlike traditional CEX I think more should be done to licence or legalize these bridge exchanges, I mean most of the top exchanges like coinbase, binance, etc have some form of licence and legal framework with which they operate. For bitshares to attract more users it has to have some form of licence or legal framework or policy guiding the use of it's technology, this will also ensure to some extent the safety of users who entrust their funds to bridges, as well as improve the quality of exchanges that run on the bitshares network. There would also be improved accountability on the bridges. There's even nothing wrong in having licensed exchanges like binance and coinbase building a DEX on the bitshares network.

116
I suggest a new coin for voting, the coin will be airdropped to active accounts through a form of whitelisting, this removes BTS core token's responsibility as a coin for voting. Whitelisting will ensure only active accounts can receive the coins, it also removes the possibility of proxy voting as the airdrop will happen to single accounts....

117
General Discussion / Did you sell at 0.04USD??
« on: March 18, 2020, 09:01:56 am »
After the last bitshares rally that took BTS to approximately 0.04USD there has been an even sharper decline, which prompts me to ask this question, I did sell a little of my BTS but not to buy below, I sold them at that time to buy a few personal things, I never envisaged that BTS would go so low again, so I didn't prepare well enough, not that I regret it, it's just that I could have accumulated more BTS than I currently have, however we still have roughly 9-8 months before the year ends so there's still time to make amends, so did you sell? Did you see the future in February?...




118
General Discussion / BTS TA FOR 12TH MARCH
« on: March 12, 2020, 07:15:28 am »
After the wonderful highs of last month BTS has fallen back down to 0.018USD this is a 55% drop from 0.04USD, much of the drop can be attributed to bitcoin's fall in price, but a general lack of strong support for BTS means we are back to the accumulation levels of 0.02-0.015USD, the range is high because BTS is very volatile.
Current stats
7d change   -31.05%
30d change -46.15%
If BTC price go lower over the coming weeks we might see BTS below  0.015USD again, this should lead to a retest of the bottom for BTS i.e 0.014USD, a break below this price would result in further sell offs, hopefully that scenario will not play out.

Due to recent developments the support has been adjusted to 0.013USD...

119
General Discussion / BTS TA for 12TH FEBRUARY
« on: February 12, 2020, 12:49:08 pm »
Bitshares price has risen by over 120% since last month ranging between 0.016USD to 0.037USD currently following an impressive recovery from the harsh downtrend of last year, much of this rise is due to bitcoin's price. Currently we have two strong resistance levels at 0.04USD and 0.05USD, and bitshares is trending sideways between 0.04USD - 0.03USD, hopefully it maintains momentum to push up above 0.05USD in the coming month, to sustain the current rally.
Meanwhile I will touch on some positive news that might have led to the recent rally...
1. Bitshares trademark in Europe; this news came during the pump of BTS from 0.016USD to 0.04USD, the trademark is part of an effort by a non profit institute from Slovenia to make bitshares a recognized financial entity. There's ongoing work to make it global.
2. BTS listing on new exchanges, recently BTS has gathered a lot of interest from CEX exchanges, with the backing of these exchanges with promotional funds there is  now more liquidity for BTS especially now that BTS gateways are becoming unreliable.

120
General Discussion / Re: ANN: HONEST Market Pegged Assets
« on: January 21, 2020, 03:15:51 pm »
I will say somthing in chinese, hope you can understand.

1. 抵押锚定的流动性很大的程度上来源于其杠杆特性及推广程度;
具体我们可以参见bitcny, 中国社区是bitcny最大与最活跃的用户群体, 中国社区前期的推广打下的基础带来的用户群使bitcny才有了良好的深度与流动性, 而其它抵押资产却完全无法与之相比, 即使是bitusd, 如果参与bitusd其中的中国资金一撤离, bitusd的深度与流动性立马见底.

所以: 杠杆特性虽然能够产生流动性,但是在推广没有到位之前, 起不了多大作用.

2. 希望能够所有BTS持有人能够理解BSIP74及BSIP77的意义所在。

MakerDAI的清算机制是存在问题的, 这个问题与BTS的MSSR一样,但是ETH在CEX良好的深度及流动性及ETH的转账速度把这个问题给掩盖住了,ETH在CEX良好的深度及流动性完全抵御住了makerdai清算人进行大量折价抛售ETH,转账的延迟性也掩饰了之一问题的严重性,如果makerdai锁定的ETH数量足够多,eth的转账速度足够快,到时候市场大幅度下调对makerdai清算机制带来的结果是致命性的,eth市场的连环崩塌并不是梦幻 ,到时候必然要触发MKR的增发机制及黑天鹅机制。

而BTS直接就已经把这个问题暴露得淋漓尽致,过大的MSSR大幅抹杀DEX内部市场深度与流动性,同时冲击CEX的市场价格,带来喂价的连环崩塌,再加上CEX的杠杆做空,一切就是这么发生的。

而我们推BSIP74的目的是为了什么?:
是为了最大程度的消除MSSR带来的影响,如果有暴仓费的手续费分享与线性解冻功能,我们也可以用此间接解决市场吃爆仓单的积极性与流动性问题,同时最大程度上规避直接使用MSSR抛售带来的负面效果,也就是最大程度上规避MakerDAI所存在的隐藏问题。

而BSIP77的目的是为了什么?:
也是为了一定程度上来消除MSSR带来的影响,我们做得是抵押锚定,不是做100倍的合约杠杆,价格在一定范围内的上下波动不应该爆来爆去的,同时也是为了一定程度上规避喂价带来的负面影响,防止利用CEX过低的深度及流动性,利用CEX做空杠杆打击喂价从而冲击抵押。
而且BSIP77还可以带来我们可能现在想不到的灵活性的调整。

而对于全局清算这个东西,其实是很傻的,一个人的债务违约不应当让这个银行的全体债务人被清算,合理的方式应当是把这个人的债务打包即时拍卖掉,实现债务拍卖市场。


I know it is very hard to understand what I'm saying, but i'm too lazy ;).
The assets will follow the traditional MPA pattern of BTS if you don't like it you can move on no need to criticize...

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