Bitshares is valuable as collateral to back other assets

[cylonmaker2053]

Note that i have discover a slight glitch in retuenTicker namely i flipped highestbid and lowest ask .. if you compare you will see that the current code has HIGHESTBID>lowestask .. stupid fuckup due to changing the pricing orientation during development .. sorry for the inconveniences .. already fixes in my local dev branch

cool thanks. my Python skillz are a bit rusty, but i should be able to fumble through most of it with a bit of time. Still, if you wouldn't mind me asking some questions if i get stuck on something setting it up, hopefully you won't mind

[xeroc]

Note that i have discover a slight glitch in retuenTicker namely i flipped highestbid and lowest ask .. if you compare you will see that the current code has HIGHESTBID>lowestask .. stupid fuckup due to changing the pricing orientation during development .. sorry for the inconveniences .. already fixes in my local dev branch

[cylonmaker2053]

another excellent point, @Ander. All the more reason to do everything we can to encourage more trading volume. i trade every day in at least three of the more liquid markets, and despite consistently setting the highest bid and lowest ask, i'm only finding myself executing about one to two dozen trades per day. Still, we at least have functioning markets with cool assets, so i just think it's a matter of time. Once i have more free time this summer, i intend to put together a market maker bot to automatic most of what i'm currently doing manually. If anyone has some simple python code to do that, it would be much appreciated

Our bright start xeroc has done this too . 
https://github.com/xeroc/python-graphenelib    -grapheme exchange in particular
documentation: http://python-graphenelib.readthedocs.org/en/latest/

You only need to add the logic for placing the highest bid/lowest ask. But this should not be hard.

you guys are seriously awesome, thank you! i just read through the documentation and it looks like this is basically everything i could want initially. i'm not looking to do too much fancy trading, just hope to add consistent liquidity to a few key markets. i'm strapped for time now, but will revisit this as a summer project to get my first bot operating.

[tonyk]

That is part of it but not all.

It also represents stake in the ownership of the network, and thus its profits.


Imagine if there was a crypto you could own that would give you a portion of poloniex's profit?  BTS is like that, but for the Bitshares decentralized exchange.  This has the possibility to become exciting if the exchange becomes heavily used, even though its not right now.  (Though at least its use looks to have grown some in the past several months).

another excellent point, @Ander. All the more reason to do everything we can to encourage more trading volume. i trade every day in at least three of the more liquid markets, and despite consistently setting the highest bid and lowest ask, i'm only finding myself executing about one to two dozen trades per day. Still, we at least have functioning markets with cool assets, so i just think it's a matter of time. Once i have more free time this summer, i intend to put together a market maker bot to automatic most of what i'm currently doing manually. If anyone has some simple python code to do that, it would be much appreciated

Our bright start xeroc has done this too . 
https://github.com/xeroc/python-graphenelib    -grapheme exchange in particular
documentation: http://python-graphenelib.readthedocs.org/en/latest/

You only need to add the logic for placing the highest bid/lowest ask. But this should not be hard.

[cylonmaker2053]

That is part of it but not all.

It also represents stake in the ownership of the network, and thus its profits.


Imagine if there was a crypto you could own that would give you a portion of poloniex's profit?  BTS is like that, but for the Bitshares decentralized exchange.  This has the possibility to become exciting if the exchange becomes heavily used, even though its not right now.  (Though at least its use looks to have grown some in the past several months).

another excellent point, @Ander. All the more reason to do everything we can to encourage more trading volume. i trade every day in at least three of the more liquid markets, and despite consistently setting the highest bid and lowest ask, i'm only finding myself executing about one to two dozen trades per day. Still, we at least have functioning markets with cool assets, so i just think it's a matter of time. Once i have more free time this summer, i intend to put together a market maker bot to automatic most of what i'm currently doing manually. If anyone has some simple python code to do that, it would be much appreciated

[Ander]

That is part of it but not all.

It also represents stake in the ownership of the network, and thus its profits.


Imagine if there was a crypto you could own that would give you a portion of poloniex's profit?  BTS is like that, but for the Bitshares decentralized exchange.  This has the possibility to become exciting if the exchange becomes heavily used, even though its not right now.  (Though at least its use looks to have grown some in the past several months).

[cylonmaker2053]

i agree with the OP about the value of BTS being its use as collateral on an awesome trading network. i just wouldn't be so hard on the community. the way i see it, the more contributions we have for ideas, the more people we have interested in testing out features, trading, or even just chatting about BTS is ultimately a good thing. Systems get better with more critique, so even trolls can add [unintended?] value. Of course, they can add noise, but it's not always so easy to distinguish between trolls and people with legitimate disagreements; all too easy to label the latter into the former category they their views are at odds with our own.

[wmbutler]

Ah, my bad. I must have skimmed over that and assumed Xeroc created it as well. Thanks for clearing that up.

[xeroc]

 I also loved seeing @xeroc prediction market for the Superbowl (even though I took the wrong side on that bet!).

I do not buy it... the guy was about  as clueless about CER as it gets.... so "yes, sure it was xeroc" I trust you...paid by the bchain or not guy.


Do not get me wrong, the rest of your post is what I   wish I could have written myself.

Great OP.
I think what tonyk wanted to say os that I did NOT run the prediction market .. I merely documented how it can be done and someone else did it ..

[tonyk]

 I also loved seeing @xeroc prediction market for the Superbowl (even though I took the wrong side on that bet!).

I do not buy it... the guy was about  as clueless about CER as it gets.... so "yes, sure it was xeroc" I trust you...paid by the bchain or not guy.


Do not get me wrong, the rest of your post is what I   wish I could have written myself.

[wmbutler]

I've been reading a lot of the posts on this discussion board. At times I feel sorry for Larimer having to wade through the BS. This board has everything....shit tons of people with very little skin in the game wining, a few trollers/spammers, and a significant number of brilliant minds contributing (xeroc, svk and many others).

I hold Bitshares for one reason. I can use Bitshares as collateral to back up the shortsale of assets I believe are overvalued and to purchase assets I believe are undervalued. This is why Bitshares will survive. I have a reason (other than speculation) to hold them. I think Maidsafecoin and Ethereum have similar value propositions. It's not the monetary value of Bitshares that matters, it's the UTILITY of it. It's useful to me and it will be useful to others over time once they understand how it works.

And guess what, if I find it useful, I'll accumulate it. By accumulating it, I do two things (a) I decrease supply and (b) I increase demand. Basic economics people. If you don't understand it, read. And if you still don't understand it, read more slowly until it clicks.

Bitshares niche is a financial distributed trading platform. The world needs this and Bitshares will benefit as a result.

My worker proposal expired and I was privileged to work with the dev team on a few UX/UI items for the GUI. I also loved seeing @xeroc prediction market for the Superbowl (even though I took the wrong side on that bet!).

BM's latest whitepaper on a no fees approach should satisfy the latest legitimate fee based issues (particularly legitimate wrt micropayments).

I'd say let's all start acting like adults but there probably aren't many adults on this board. I feel momentum and good things right now. And remember:

The simple pitch for Bitshares is bitUSD and bitCNY. You can hold a crypto-derivative for a market pegged US Dollar and YEN. All the transmission benefits of a crypto with the price stability of FIAT. Plenty of people don't know this but besides using BTS as collateral, it's the single best motivator for BTC holders.