Quote from: puppies on January 27, 2016, 06:51:59 PM

Quote from: Akado on January 27, 2016, 06:42:26 PM
This pump and liquidity is a good chance for the fee pool to be used for the creation of assets. Couldn't it help tighten the peg?

The issue here is the slow moving nature of the committee account.  Even if we were able to get 51% of the committee online at the same time, there is a minimum 1 hour review period on all committee actions. 

Realistically speaking if I were to create a proposal to sell the bittassets that we have collected from the fee pool, I would need to set the expiration at at least 12 hours.  This is not exactly real time, and we would have to be careful about what the price was when the proposal expired, so we didn't accidentally end up dumping under the feed.

The same issue comes up if we need to cancel an order.  If we set a sell wall, and then the price changes, we are powerless to cancel our sell wall for at least 1 hour.

To help combat this I have created a separate account committee-trade.  This account is owned by the committee account and has active key multi-sig.  Currently it is a 2 of 4 scheme with bhuz (the only volunteer), myself,  Xeroc, and abit (since I didn't think they would mind).  If you are good with the CLI and would like to be added please let us know. 

This is not endorsed by the committee yet.  I have started this in motion in an attempt to spur something.

Quote from: Empirical1.2 on January 28, 2016, 06:28:25 PM
Why 10% above the peg?

I would have thought more like 2%? Or are you going to start at 10 and move closer to the peg if they don't get bought?

if the don't get bought they sit there on the order book and add depth

Why 10% above the peg?

I would have thought more like 2%? Or are you going to start at 10 and move closer to the peg if they don't get bought?

Yes I fully agree with what Akado is saying.
A first step would be to sell the fee pool reserves in to the markets at feed +10%

Could the committee please inform us of what it has planned to increase liquidity in the near term?

Quote from: mindphlux on January 28, 2016, 06:18:45 PM
I would support this, in fact there has been some discussion going on regarding this in the committee channel. I hope we can come up with a good solution soon enough.

Well, it should have already been discussed when the funds were collected. Why collect them without a plan? I thought it was handled at that time but it clearly wasn't so let's discuss it here.

Fees were collected so we need to come up with a plan and push this through.

I would support this, in fact there has been some discussion going on regarding this in the committee channel. I hope we can come up with a good solution soon enough.

Ok one fact is if we delay this discussion about the fees for a few weeks, BitShares won't die. That's for sure.

So can we stop the discussion about fees for a second and focus on this?

Now, ignoring that for a bit  - and please don't hijack this thread with that discussion - can we focus on how the use the fee pool?

The committee collected the fees, they're waiting to be used! We have reached $50k daily volume. What chance is better to use the those funds to create bitassets and sell them 10% above the peg?

https://bitsharestalk.org/index.php/topic,21183.0.html

Isn't liquidity a chicken and egg problem? Well we just got one of those. We have a little of liquidity, so why waste it? We need to grab this chance. Use it at the same time we use those funds to promote even more liquidity! That's what we need

I think that could help, for starters. Now, I have not applied for committee for a reason. I honestly don't know much about how markets work, only have a basic idea so maybe just selling them isn't enough. Maybe it's good short term right? I'm sure it is, but maybe we need a better long term plan.

This thread is to discuss exactly that.

Right now we have the chance to use our current volume which has spiked in these last days to bootstrap liquidity, it's exactly what we've been asking for so let's use this chance. Puppies reported a volume of $50k and Ronny another $22k that didn't show on cmc, that makes it $75k. Along with these assets we could do something. However it's better if we have a long term plan so let's discuss that

We've been blinded by the fees when this should be our focus but that's just my opinion. Let's focus on what's important. How to bring liquidity to the markets using the fee pool