How to bootstrap bitUSD liquidity?

[Method-X]

Somebody create a worker proposal for an open source market maker.

What is the pay rate that you will  personally approve such proposal?

I have no idea. I would set it pretty high though, as I see this as being a pretty glaring barrier to adoption and thus should be high priority.

[tonyk]

Somebody create a worker proposal for an open source market maker.

What is the pay rate that you will  personally approve such proposal?

[Pheonike]

What's preventing market makers?

Importing wallet.

[Method-X]

Somebody create a worker proposal for an open source market maker.

[Method-X]

Is open source market maker not aa good idea?

That was talked about a year ago but Toast left with Rune to develop makerdao for Ethereum. Market making seems to be the elephant in the room not being addressed by the developers. There has been so much talk about creating a pretty GUI and not enough talk about how to actually get liquidity. Honestly, the GUI is pretty sweet right now and will only get better. You can make a GUI that looks like Apple themselves created it but it'll still be useless without liquidity.

[maqifrnswa]

What's preventing market makers?

wallet api is missing some needed commands
1) cancel_order
2) get outstanding orders by account
3) get market history

I tried porting my 1.0 market maker to 2.0 but hit a wall with those commands. I didn't have time to to try a hack by searching the blockchain transactions for my ID to try to find all the transaction objects

[clayop]

Is open source market maker not aa good idea?

[Xeldal]

What's preventing market makers?

Documentation is one thing.

[Method-X]

What's preventing market makers?

[sudo]

bitUSD volume is low

[Method-X]

The bottleneck to adoption and utility is bootstrapping liquidity. Always has been.

Step #1: You need bitUSD liquidity.
Step #2: Do stuff that ONLY makes sense on a decentralized exchange and/or with stable crypto.

So we all know #1 needs to happen before anything else can occur. Once you've got decent liquidity:

a) The referral program will actually work because conversion will be good (people referred will actually generate income for the referrer). In fact, I would recommend lowering fees until you have some initial traction and conversion increases.
b) BitUSD can be used for gambling.
c) BitUSD can be used to securely trade altcoin derivatives on the DEX.
d) BitUSD can be used in countries with unstable currencies.
e) BitUSD can be used to buy stuff on the darknet (especially with stealth transactions).

A stable crypto has a ton of utility but only if it's liquid. Everyone who follows and develops for this project obviously gets that. The only discussion going on right now should be how to get to a liquid USD. The story of bitshares has, from the beginning, been a chicken and egg problem and I'm honestly not sure it can be solved at this point. Someone tell me I'm wrong?