Now that Daniel Larimer (aka bytemaster) is gone...

[bitsharesbrazil]

Regards to liquidity rewards
can we.do it with LTM, lets say zero fees for trading for some time, plus you get part of the fees of normal people that are in the same trade? Isnt it more reasonable?

Normal people keep paying fees as is, so we.can sustain the network n maybe make a profit from it n market makers bring action n depth

Am I delusional, naive or it makes sense for someone?

[onceuponatime]

I am working on the Website and currently thinking about the right design structure plus a way how to fund the front end developer. I first want to be 100% sure to get a voter in, because i don´t want to waste 160€ for a empty worker. I do not have spear funds fur such a deal. So before we think about a big rebranding, let us use what we have so far. Refaine our core values and talk to our core target group.

You should have posted this to STEEM.

And for the morons who think that the Steemit posters will lose value of their bitUSD (STEEM backed crypto dollars are the same thing) relative to USD as they go to cash it out on July 5th,  I have to laugh and realize that not even some of the BitShares faithful know that the concept of:

"the  value of 1 bitUSD can always be sold for $1 USD" is true

But for these people who are afraid that the value of bitUSD will fall relative to USD I will do you the favor and do your homework for you:

On July 5th the value of STEEMPOWER will fall as the STEEM backed dollars are pulled out of the system.  Sorry but the concept of smartcoins has been around now for years and when you act like it does not exist, it kind of makes me feel like a genius and realize that if the BitShares locals still have not learned what the heck a "smartcoin" is then...... (do the math)(early adopt much?)

How is the value of the bitUSD (SBD) going to hold it's value during this predictable exodous?  By barring the doors of the STEEMPOWER holders (and taking their money and giving it to the curators). 

Duh.. "smartcoins"  hello.  STEEM is a simplified fork of BitShares not a more complex one (no shorting/margin calls etc).  Wake up class, life is passing you by.

ELI5:

STEEM - It's just a BitShares fundraiser

As far as branding goes.  Let's keep the "BitShares" brand of smartcoins, but since our DEX is so kick ass performancewise, I do believe that we should start calling it:

"The DEX"

It is after all the first and only place that I know of where you can create and trade smartcoins (those things that many around here still fail to admit the existance of!)

Where is the best discussion of how the STEEMIT dollars work without the long/short mechanism?

The Steem Dollar is an amalgamation of stable coin mechanisms.  It's influenced by Vitalik Buterin's seignorage shares and other seignorage based stable coins. Other than seignorage, the token is supported by automatic distribution at a set rate, the holder's ability to use the blockchain to convert to Steem, price feeds and a target % of market cap. The blockchain has self-balancing seignorage mechanisms to make sure SD stays at a target % of market capitalization. To improve price feeds and liquidity, there is trading that occurs to support the peg that can happen off-chain or on-chain, however, one of the important facilitators of SD is the subsidized blockchain-based market between Steem and Steem Dollars.

Given there's only circa $20k buy support for STEEM down to a zero valuation, how much could someone like rgcrypto who has apparently earned $20k STEEM USD realistically convert to BTC over a day/week/month if conditions resembling the current market exist on Jul 5th or whenever they become redeemable?

It is unreasonable to assume that current conditions will persist. Steemit.com's user base is growing exponentially. And with that comes great potential. From a Steemit post:

Imagine Apple and McDonalds buying Steem Power

"Where Steem comes in, is in the area of journalism and media. With ad-blocking on the rise and advertisers no longer willing to do expensive advertising campaigns, a model of media underpinned with a blockchain might be the answer. I can imagine Apple and McDonalds and other buying Steem Power to upvote any viral story that made their brands look good. I can see political parties doing the same, ditto pressure groups. Imagine the money that could be made at election time - in fact I think we should contact the Dems and GOP and ask them if they want to vote stuff up!

Steemit could be a new way of monetizing content - instead of the reader having to put up with ads, the advertiser simply purchases Steem Power and sets a bot to upvote any post that mentions their brand."

[steem]

Let me.see if i understand market maker provide.liquidity put orders on both sides, they would pay fees in a normal way, bu with steem mechanism the normal people would.pay an.additional value incorporated in his bid/ask so he can pay a small value to support the market maker? Is it?

The blockchain uses seignorage to reward Steem to accounts that had orders execute from the books after at least one minute on the books. There also aren't any trading fees for the buyers and sellers.  The key here is seignorage to benefit users who tie up capital and do work for the network.

[bitsharesbrazil]

Let me.see if i understand market maker provide.liquidity put orders on both sides, they would pay fees in a normal way, bu with steem mechanism the normal people would.pay an.additional value incorporated in his bid/ask so he can pay a small value to support the market maker? Is it?

[steem]

From.where come the money.for.LIQUIDITY REWARDS FROM STEEM? From fees? How does this work fully? Inthe white paper is not clear for me..... What do you guys, traders think of it?

The value of Steem, like all crypto currencies I know of, comes from speculation capital.  Once there is value, Steem's Power mechanism helps move the value into a 'long term holder's bucket'.  Once that's established, the blockchain can use seignorage to provide rewards to people who provide capital or work that improves the ecosystem, such as market making or posting valuable information.

[Shentist]

From.where come the money.for.LIQUIDITY REWARDS FROM STEEM? From fees? How does this work fully? Inthe white paper is not clear for me..... What do you guys, traders think of it?

it is to complicated, so the chance for failing is high.

as far as i understand the are just "printing" enough collateral like Nubits.

[bitsharesbrazil]

From.where come the money.for.LIQUIDITY REWARDS FROM STEEM? From fees? How does this work fully? Inthe white paper is not clear for me..... What do you guys, traders think of it?

[fav]

20k is wishful thinking and probably not enough due diligence on onceuponatime's side.

the more votes are cast the less shares a post has in the end. the end is 4th of july when everything is paid out.

it's highly likely that we talk about 2-3 figure per whale voted post.

advertising a high payrate will horribly backfire

What is your understanding of how a 'whale voted' post works?  Are you under the belief that it doesn't affect visibility but does affect payment?

That is my general view 'horrible backfiring' and a lot of that will fall on BitShares.

because whale votes lose value every day / vote and it will significantly drop until the 4th july. search on steem there are analysis explaining this stuff on a tech level

[steem]

I am working on the Website and currently thinking about the right design structure plus a way how to fund the front end developer. I first want to be 100% sure to get a voter in, because i don´t want to waste 160€ for a empty worker. I do not have spear funds fur such a deal. So before we think about a big rebranding, let us use what we have so far. Refaine our core values and talk to our core target group.

You should have posted this to STEEM.

And for the morons who think that the Steemit posters will lose value of their bitUSD (STEEM backed crypto dollars are the same thing) relative to USD as they go to cash it out on July 5th,  I have to laugh and realize that not even some of the BitShares faithful know that the concept of:

"the  value of 1 bitUSD can always be sold for $1 USD" is true

But for these people who are afraid that the value of bitUSD will fall relative to USD I will do you the favor and do your homework for you:

On July 5th the value of STEEMPOWER will fall as the STEEM backed dollars are pulled out of the system.  Sorry but the concept of smartcoins has been around now for years and when you act like it does not exist, it kind of makes me feel like a genius and realize that if the BitShares locals still have not learned what the heck a "smartcoin" is then...... (do the math)(early adopt much?)

How is the value of the bitUSD (SBD) going to hold it's value during this predictable exodous?  By barring the doors of the STEEMPOWER holders (and taking their money and giving it to the curators). 

Duh.. "smartcoins"  hello.  STEEM is a simplified fork of BitShares not a more complex one (no shorting/margin calls etc).  Wake up class, life is passing you by.

ELI5:

STEEM - It's just a BitShares fundraiser

As far as branding goes.  Let's keep the "BitShares" brand of smartcoins, but since our DEX is so kick ass performancewise, I do believe that we should start calling it:

"The DEX"

It is after all the first and only place that I know of where you can create and trade smartcoins (those things that many around here still fail to admit the existance of!)

Where is the best discussion of how the STEEMIT dollars work without the long/short mechanism?

The Steem Dollar is an amalgamation of stable coin mechanisms.  It's influenced by Vitalik Buterin's seignorage shares and other seignorage based stable coins. Other than seignorage, the token is supported by automatic distribution at a set rate, the holder's ability to use the blockchain to convert to Steem, price feeds and a target % of market cap. The blockchain has self-balancing seignorage mechanisms to make sure SD stays at a target % of market capitalization. To improve price feeds and liquidity, there is trading that occurs to support the peg that can happen off-chain or on-chain, however, one of the important facilitators of SD is the subsidized blockchain-based market between Steem and Steem Dollars.

Given there's only circa $20k buy support for STEEM down to a zero valuation, how much could someone like rgcrypto who has apparently earned $20k STEEM USD realistically convert to BTC over a day/week/month if conditions resembling the current market exist on Jul 5th or whenever they become redeemable?

That's an interesting and very specific question. The system was designed to separate stability from leverage, and give liquidity to both sides - as far as what will theoretically happen, as long as stability, liquidity and leverage are achieved, then the system has been bootstrapped successfully.  There is a whitepaper here to learn more about the mechanisms: https://steem.io/SteemWhitePaper.pdf

[gamey]

20k is wishful thinking and probably not enough due diligence on onceuponatime's side.

the more votes are cast the less shares a post has in the end. the end is 4th of july when everything is paid out.

it's highly likely that we talk about 2-3 figure per whale voted post.

advertising a high payrate will horribly backfire

What is your understanding of how a 'whale voted' post works?  Are you under the belief that it doesn't affect visibility but does affect payment?

That is my general view 'horrible backfiring' and a lot of that will fall on BitShares.

[fav]

20k is wishful thinking and probably not enough due diligence on onceuponatime's side.

the more votes are cast the less shares a post has in the end. the end is 4th of july when everything is paid out.

it's highly likely that we talk about 2-3 figure per whale voted post.

advertising a high payrate will horribly backfire

[gamey]

I am working on the Website and currently thinking about the right design structure plus a way how to fund the front end developer. I first want to be 100% sure to get a voter in, because i don´t want to waste 160€ for a empty worker. I do not have spear funds fur such a deal. So before we think about a big rebranding, let us use what we have so far. Refaine our core values and talk to our core target group.

You should have posted this to STEEM.

And for the morons who think that the Steemit posters will lose value of their bitUSD (STEEM backed crypto dollars are the same thing) relative to USD as they go to cash it out on July 5th,  I have to laugh and realize that not even some of the BitShares faithful know that the concept of:

"the  value of 1 bitUSD can always be sold for $1 USD" is true

But for these people who are afraid that the value of bitUSD will fall relative to USD I will do you the favor and do your homework for you:

On July 5th the value of STEEMPOWER will fall as the STEEM backed dollars are pulled out of the system.  Sorry but the concept of smartcoins has been around now for years and when you act like it does not exist, it kind of makes me feel like a genius and realize that if the BitShares locals still have not learned what the heck a "smartcoin" is then...... (do the math)(early adopt much?)

How is the value of the bitUSD (SBD) going to hold it's value during this predictable exodous?  By barring the doors of the STEEMPOWER holders (and taking their money and giving it to the curators). 

Duh.. "smartcoins"  hello.  STEEM is a simplified fork of BitShares not a more complex one (no shorting/margin calls etc).  Wake up class, life is passing you by.

ELI5:

STEEM - It's just a BitShares fundraiser

As far as branding goes.  Let's keep the "BitShares" brand of smartcoins, but since our DEX is so kick ass performancewise, I do believe that we should start calling it:

"The DEX"

It is after all the first and only place that I know of where you can create and trade smartcoins (those things that many around here still fail to admit the existance of!)

Where is the best discussion of how the STEEMIT dollars work without the long/short mechanism?

The Steem Dollar is an amalgamation of stable coin mechanisms, largely influenced by Vitalik Buterin's seignorage shares and other seignorage based stable coins, as well as lessons learned from BitUSD, Nubits and Dai. Other than seignorage, the token is supported by automatic distribution at a set rate, the holder's ability to use the blockchain to convert to Steem, price feeds and a target % of market cap. The blockchain has self-balancing seignorage mechanisms to make sure SD stays at a target % of market capitalization. To improve price feeds and liquidity, trading occurs off-chain or on-chain, however, one of the important facilitators of SD is the subsidized blockchain-based market between Steem and Steem Dollars.

Although I appreciate your effort, this doesn't explain much. Seignorage and that marketcap do not instill confidence.  This post comes across as something analagous to FUD, but would be like 'Trust, Certainty, and Understanding'.  TCU. (Taking care of uncertaintly) 

No real details where I could look at it and convince myself that these 20k claimed SD cashouts are trustworthy claims.

[Empirical1.2]

I am working on the Website and currently thinking about the right design structure plus a way how to fund the front end developer. I first want to be 100% sure to get a voter in, because i don´t want to waste 160€ for a empty worker. I do not have spear funds fur such a deal. So before we think about a big rebranding, let us use what we have so far. Refaine our core values and talk to our core target group.

You should have posted this to STEEM.

And for the morons who think that the Steemit posters will lose value of their bitUSD (STEEM backed crypto dollars are the same thing) relative to USD as they go to cash it out on July 5th,  I have to laugh and realize that not even some of the BitShares faithful know that the concept of:

"the  value of 1 bitUSD can always be sold for $1 USD" is true

But for these people who are afraid that the value of bitUSD will fall relative to USD I will do you the favor and do your homework for you:

On July 5th the value of STEEMPOWER will fall as the STEEM backed dollars are pulled out of the system.  Sorry but the concept of smartcoins has been around now for years and when you act like it does not exist, it kind of makes me feel like a genius and realize that if the BitShares locals still have not learned what the heck a "smartcoin" is then...... (do the math)(early adopt much?)

How is the value of the bitUSD (SBD) going to hold it's value during this predictable exodous?  By barring the doors of the STEEMPOWER holders (and taking their money and giving it to the curators). 

Duh.. "smartcoins"  hello.  STEEM is a simplified fork of BitShares not a more complex one (no shorting/margin calls etc).  Wake up class, life is passing you by.

ELI5:

STEEM - It's just a BitShares fundraiser

As far as branding goes.  Let's keep the "BitShares" brand of smartcoins, but since our DEX is so kick ass performancewise, I do believe that we should start calling it:

"The DEX"

It is after all the first and only place that I know of where you can create and trade smartcoins (those things that many around here still fail to admit the existance of!)

Where is the best discussion of how the STEEMIT dollars work without the long/short mechanism?

The Steem Dollar is an amalgamation of stable coin mechanisms.  It's influenced by Vitalik Buterin's seignorage shares and other seignorage based stable coins. Other than seignorage, the token is supported by automatic distribution at a set rate, the holder's ability to use the blockchain to convert to Steem, price feeds and a target % of market cap. The blockchain has self-balancing seignorage mechanisms to make sure SD stays at a target % of market capitalization. To improve price feeds and liquidity, there is trading that occurs to support the peg that can happen off-chain or on-chain, however, one of the important facilitators of SD is the subsidized blockchain-based market between Steem and Steem Dollars.

Given there's only circa $20k buy support for STEEM down to a zero valuation, how much could someone like rgcrypto who has apparently earned $20k STEEM USD realistically convert to BTC over a day/week/month if conditions resembling the current market exist on Jul 5th or whenever they become redeemable?

[steem]

I am working on the Website and currently thinking about the right design structure plus a way how to fund the front end developer. I first want to be 100% sure to get a voter in, because i don´t want to waste 160€ for a empty worker. I do not have spear funds fur such a deal. So before we think about a big rebranding, let us use what we have so far. Refaine our core values and talk to our core target group.

You should have posted this to STEEM.

And for the morons who think that the Steemit posters will lose value of their bitUSD (STEEM backed crypto dollars are the same thing) relative to USD as they go to cash it out on July 5th,  I have to laugh and realize that not even some of the BitShares faithful know that the concept of:

"the  value of 1 bitUSD can always be sold for $1 USD" is true

But for these people who are afraid that the value of bitUSD will fall relative to USD I will do you the favor and do your homework for you:

On July 5th the value of STEEMPOWER will fall as the STEEM backed dollars are pulled out of the system.  Sorry but the concept of smartcoins has been around now for years and when you act like it does not exist, it kind of makes me feel like a genius and realize that if the BitShares locals still have not learned what the heck a "smartcoin" is then...... (do the math)(early adopt much?)

How is the value of the bitUSD (SBD) going to hold it's value during this predictable exodous?  By barring the doors of the STEEMPOWER holders (and taking their money and giving it to the curators). 

Duh.. "smartcoins"  hello.  STEEM is a simplified fork of BitShares not a more complex one (no shorting/margin calls etc).  Wake up class, life is passing you by.

ELI5:

STEEM - It's just a BitShares fundraiser

As far as branding goes.  Let's keep the "BitShares" brand of smartcoins, but since our DEX is so kick ass performancewise, I do believe that we should start calling it:

"The DEX"

It is after all the first and only place that I know of where you can create and trade smartcoins (those things that many around here still fail to admit the existance of!)

Where is the best discussion of how the STEEMIT dollars work without the long/short mechanism?

The Steem Dollar is an amalgamation of stable coin mechanisms, largely influenced by Vitalik Buterin's seignorage shares and other seignorage based stable coins, as well as lessons learned from BitUSD, Nubits and Dai. Other than seignorage, the token is supported by automatic distribution at a set rate, the holder's ability to use the blockchain to convert to Steem, price feeds and a target % of market cap. The blockchain has self-balancing seignorage mechanisms to make sure SD stays at a target % of market capitalization. To improve price feeds and liquidity, trading occurs off-chain or on-chain, however, one of the important facilitators of SD is the subsidized blockchain-based market between Steem and Steem Dollars. 

[gamey]

I am working on the Website and currently thinking about the right design structure plus a way how to fund the front end developer. I first want to be 100% sure to get a voter in, because i don´t want to waste 160€ for a empty worker. I do not have spear funds fur such a deal. So before we think about a big rebranding, let us use what we have so far. Refaine our core values and talk to our core target group.

You should have posted this to STEEM.

And for the morons who think that the Steemit posters will lose value of their bitUSD (STEEM backed crypto dollars are the same thing) relative to USD as they go to cash it out on July 5th,  I have to laugh and realize that not even some of the BitShares faithful know that the concept of:

"the  value of 1 bitUSD can always be sold for $1 USD" is true

But for these people who are afraid that the value of bitUSD will fall relative to USD I will do you the favor and do your homework for you:

On July 5th the value of STEEMPOWER will fall as the STEEM backed dollars are pulled out of the system.  Sorry but the concept of smartcoins has been around now for years and when you act like it does not exist, it kind of makes me feel like a genius and realize that if the BitShares locals still have not learned what the heck a "smartcoin" is then...... (do the math)(early adopt much?)

How is the value of the bitUSD (SBD) going to hold it's value during this predictable exodous?  By barring the doors of the STEEMPOWER holders (and taking their money and giving it to the curators). 

Duh.. "smartcoins"  hello.  STEEM is a simplified fork of BitShares not a more complex one (no shorting/margin calls etc).  Wake up class, life is passing you by.

ELI5:

STEEM - It's just a BitShares fundraiser

As far as branding goes.  Let's keep the "BitShares" brand of smartcoins, but since our DEX is so kick ass performancewise, I do believe that we should start calling it:

"The DEX"

It is after all the first and only place that I know of where you can create and trade smartcoins (those things that many around here still fail to admit the existance of!)

Where is the best discussion of how the STEEMIT dollars work without the long/short mechanism?