Author Topic: BitARS - SmartCoin Petition  (Read 10029 times)

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Offline abit

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bitARS SmartCoin has been created and transferred to the committee.

https://bitshares.openledger.info/#/asset/ARS

We are now talking with the witnesses to start publishing feeds (and eventually equalize the feed after)

On Agu 14 we will be returning the BTS obtained via the cashback!
Just found this thread, because I noticed there are 587K BTS sitting in the fee pool of bitARS.
I think it's appropriate for the committee to get out most of the BTS.

By the way, anyone know what's the status of the cashback?
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Offline hcf27

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Thanks to everyone who supported and voted this project.

Now the real job begins: adoption

Working on some press releases and blog posts in english and spanish, but for now I leave you with a brief story of how we created the smartcoin and the virtues of Bitshares DAO platform

https://steemit.com/bitshares/@chitty/how-we-raised-3

Offline bitcrab

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Offline xeroc

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Offline ElMato

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bitARS SmartCoin has been created and transferred to the committee.

https://bitshares.openledger.info/#/asset/ARS

We are now talking with the witnesses to start publishing feeds (and eventually equalize the feed after)

On Agu 14 we will be returning the BTS obtained via the cashback! 

Offline hcf27

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Worker is created and can be seen on cryptofresh.

http://cryptofresh.com/workers

Our idea is to grow bitshares ecosystem by being able to use our own argentine smartcoin, for business, for POS systems and for apps like ECHO, so plz support our worker.

*The smartcoin and the remaining funds will be sent to Committe Account after creation.

Dumb question... why not use BitUSD?

We want merchants and users in argentina to start using bitshares technology, merchants can´t accept USD freely... if I go to the local shop I cant pull out a 20 dollar bill and pay with it, people here use argentine pesos and that is what we want them to have when they use bitshares apps..

Isn't the USD a better choice ? As the ARS isn't known to be stable. Or maybe the situation has changed over the last years, I thought people held on to USD because of that.

I wonder if the government will be happy with BitARS there?

Yes USD is more stable, and YES most people hold USD for savings but you USE argentine peso, this is what you use and therefore what we want is people to use BitARS trough different apps, not just hold it, they have bitUSD and bitGOLD for holding..

Offline karnal

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Worker is created and can be seen on cryptofresh.

http://cryptofresh.com/workers

Our idea is to grow bitshares ecosystem by being able to use our own argentine smartcoin, for business, for POS systems and for apps like ECHO, so plz support our worker.

*The smartcoin and the remaining funds will be sent to Committe Account after creation.

Dumb question... why not use BitUSD?

We want merchants and users in argentina to start using bitshares technology, merchants can´t accept USD freely... if I go to the local shop I cant pull out a 20 dollar bill and pay with it, people here use argentine pesos and that is what we want them to have when they use bitshares apps..

Isn't the USD a better choice ? As the ARS isn't known to be stable. Or maybe the situation has changed over the last years, I thought people held on to USD because of that.

I wonder if the government will be happy with BitARS there?

Offline hcf27

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Worker is created and can be seen on cryptofresh.

http://cryptofresh.com/workers

Our idea is to grow bitshares ecosystem by being able to use our own argentine smartcoin, for business, for POS systems and for apps like ECHO, so plz support our worker.

*The smartcoin and the remaining funds will be sent to Committe Account after creation.

Dumb question... why not use BitUSD?

We want merchants and users in argentina to start using bitshares technology, merchants can´t accept USD freely... if I go to the local shop I cant pull out a 20 dollar bill and pay with it, people here use argentine pesos and that is what we want them to have when they use bitshares apps..

Offline hcf27

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Worker is created and can be seen on cryptofresh.

http://cryptofresh.com/workers

Our idea is to grow bitshares ecosystem by being able to use our own argentine smartcoin, for business, for POS systems and for apps like ECHO, so plz support our worker.

*The smartcoin and the remaining funds will be sent to Committe Account after creation.

and after 90 days, the cash back will be returned to the reserve pool, right?

Yes, that is the idea.

We would have preferred it if the Comitte created the coin so that we wouldnt have to, but yeah we will return everything..

Offline bitcrab

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Worker is created and can be seen on cryptofresh.

http://cryptofresh.com/workers

Our idea is to grow bitshares ecosystem by being able to use our own argentine smartcoin, for business, for POS systems and for apps like ECHO, so plz support our worker.

*The smartcoin and the remaining funds will be sent to Committe Account after creation.

and after 90 days, the cash back will be returned to the reserve pool, right?
Email:bitcrab@qq.com

Offline karnal

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Worker is created and can be seen on cryptofresh.

http://cryptofresh.com/workers

Our idea is to grow bitshares ecosystem by being able to use our own argentine smartcoin, for business, for POS systems and for apps like ECHO, so plz support our worker.

*The smartcoin and the remaining funds will be sent to Committe Account after creation.

Dumb question... why not use BitUSD?

Offline hcf27

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Worker is created and can be seen on cryptofresh.

http://cryptofresh.com/workers

Our idea is to grow bitshares ecosystem by being able to use our own argentine smartcoin, for business, for POS systems and for apps like ECHO, so plz support our worker.

*The smartcoin and the remaining funds will be sent to Committe Account after creation.

Offline xeroc

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I just discussed with some committee members, currently no problem, just need some more time to get opinion from enough members and coordinate on how to do it.

 "force_settlement_offset_percent": 0 ~ 1%  need to determine 0 or 1%.

as a shorter of CNY, my debt position has been force settled for several times, but step by step I found this is not a big issue, in almost all the times I can hedge the risk by operate in negative direction in ex-markets. for TCNY, up to now no real force settlement happens, in other words, this liquidity-making method is not used for TCNY.

so I suggest to check whether there is BTS/ARS ex-market with enough depth for shorters to easily hedge risk, if no then 1% should be better than 0. if yes 0 should be better.

It's a great idea having a settlement offset of >0% .. maybe even 2-3%

That would offset the premium of asset and would those that really
want to settled everything at once have to pay this offset as a
"percentage fee".

Offline hcf27

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Update:

Team Argentina has spoken with the Committe and they have decided we should go ahead and issue a worker proposal to create BitARS, we will then transfer the asset to the Committe Account, together with any remaining funds.

@ElMato will create the worker and we hope to get your support :)






« Last Edit: April 22, 2016, 11:51:41 am by hcf27 »

Offline hcf27

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Hey @bitcrab ,

Thanks for your input, I was also going to ask you what paremeters you thought were appropriate, given you have experience creating and runnnig a few smartcoins.

I agree that we need encourage shorters, in my opinion we should have something similar to TCNY :

"force_settlement_offset_percent": 0 ~ 1%,
 "maximum_force_settlement_volume": 2%,

Now, I wanted to ask you @bitcrab, if as a Committee member you could create and put up the worker proposal?, we can create a different forum thread explaining the proposal so that it can be linked to the worker.

We will provide all the votes from argentinian members and I dont think we would have much resistence from other voters since the fees for creatig the asset will go back to the network.

Nota: @rnglab Gracias por tu bienvenida amigo, creo que Argentina se merece una smartcoin, un abrazo!

I just discussed with some committee members, currently no problem, just need some more time to get opinion from enough members and coordinate on how to do it.

 "force_settlement_offset_percent": 0 ~ 1%  need to determine 0 or 1%.

as a shorter of CNY, my debt position has been force settled for several times, but step by step I found this is not a big issue, in almost all the times I can hedge the risk by operate in negative direction in ex-markets. for TCNY, up to now no real force settlement happens, in other words, this liquidity-making method is not used for TCNY.

so I suggest to check whether there is BTS/ARS ex-market with enough depth for shorters to easily hedge risk, if no then 1% should be better than 0. if yes 0 should be better.
We dont really have another market for Ars and we want to promote shorters so that we can have some liquidity: this said, I think its best to set it at 1%

I talked to @elmato and he agrees too.

Thanks for helping us with this @bitcrab, we are all very greatful

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