Author Topic: Steem - What I am Doing About It and How I Need Your Help  (Read 2684 times)

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Offline abit

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Re: Steem - What I am Doing About It and How I Need Your Help
« Reply #15 on: July 19, 2016, 11:17:58 am »
You'll get upvotes there as long as you're providing good contents. I appreciate your efforts. Voted for the first one. However I have no much time to spend on browsing the site, so perhaps will miss some of your new posts. Please let me know when that's the case.
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Offline cube

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Re: Steem - What I am Doing About It and How I Need Your Help
« Reply #16 on: July 19, 2016, 01:41:19 pm »
I would like to see a more detailed plan.  I like to see a breakdown of

1) The daily budget in USD needed to get the liquidity going
2) Your part of the fee in managing this
3) How are you going to do it? Manual or via some automatic means? 
4) Are you an experience trader? If not, where are you getting the trading experience?
5) Any report given on the effectiveness of the order executions. 
6) What if the venture failed?  Are the monies distributed back to bitshares holders in some way?

Are you going to have a multi-sig account, with perhaps an established bitshares user-owned steem account? 

These are some of my concerns but I like to hear opinions from other bts stakeholders too.

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Offline paliboy

Re: Steem - What I am Doing About It and How I Need Your Help
« Reply #17 on: July 19, 2016, 02:00:29 pm »
7) are you going to trade only on DEX?

Offline yvv

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Re: Steem - What I am Doing About It and How I Need Your Help
« Reply #18 on: July 19, 2016, 02:09:00 pm »
Don't ask questions. Just press the damn upvote button. It does not cost you.

Offline oldman

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Re: Steem - What I am Doing About It and How I Need Your Help
« Reply #19 on: July 19, 2016, 02:16:54 pm »
You'll get upvotes there as long as you're providing good contents. I appreciate your efforts. Voted for the first one. However I have no much time to spend on browsing the site, so perhaps will miss some of your new posts. Please let me know when that's the case.

Thank you svk, your comments and vote are greatly appreciated!

I will continue to use this forum and PMs to keep the community notified of when new Steemit posts are ready for voting - the PMs are very time consuming but it's the most direct and easy way to keep folks informed.

Offline oldman

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Re: Steem - What I am Doing About It and How I Need Your Help
« Reply #20 on: July 19, 2016, 05:43:25 pm »
I would like to see a more detailed plan.  I like to see a breakdown of

1) The daily budget in USD needed to get the liquidity going
2) Your part of the fee in managing this
3) How are you going to do it? Manual or via some automatic means? 
4) Are you an experience trader? If not, where are you getting the trading experience?
5) Any report given on the effectiveness of the order executions. 
6) What if the venture failed?  Are the monies distributed back to bitshares holders in some way?

Are you going to have a multi-sig account, with perhaps an established bitshares user-owned steem account? 

These are some of my concerns but I like to hear opinions from other bts stakeholders too.

Thank you for your post - great questions! Here's some answers:

1) The daily budget in USD needed to get the liquidity going

10,000 STEEM/104 = 96 STEEM/day. At the time of writing this is about $350 USD per day or ~ $10k per month/$240k total liquidity

It's not much but is realistic based on the amount of time/effort I can make available to earn the initial stake via writing.

If the steemwhales start supporting/upvoting we may be able to do much more - currently we have 134 votes are not yet getting love from the steemwhales.

2) Your part of the fee in managing this


My fees = bts + steem

3) How are you going to do it? Manual or via some automatic means?

Automatic market making bots are preferred. I don't have the skill set to create trading bots but other community members do - we will use the BTS to test and tune them.

4) Are you an experience trader? If not, where are you getting the trading experience?

I have a few decades of trading and investment under my belt, but am always looking to learn new things. Market making via bots in shallow crypto markets is definitely going to be a new thing.

5) Any report given on the effectiveness of the order executions.


If you tell me what metrics you want to track, we will track them.

6) What if the venture failed?  Are the monies distributed back to bitshares holders in some way?


No, funds generated will not be distributed to bitshares holders as I'm not asking for investment or other monetary contributions from the community, ie. there is no risk associated with participation (voting).

However, I will say that If the venture fails I am out a considerable amount of time and effort, which is not trivial at my stage in life. ;)
« Last Edit: July 19, 2016, 05:52:22 pm by OldMan »

Offline oldman

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Re: Steem - What I am Doing About It and How I Need Your Help
« Reply #21 on: July 19, 2016, 05:46:57 pm »
7) are you going to trade only on DEX?

Yes, that is the plan unless the community feels there is more benefit to trading elsewhere.

Offline oldman

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Re: Steem - What I am Doing About It and How I Need Your Help
« Reply #22 on: July 19, 2016, 05:47:27 pm »
Don't ask questions. Just press the damn upvote button. It does not cost you.

 +5%

Thank you, sir!

Offline oldman

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Re: Steem - What I am Doing About It and How I Need Your Help
« Reply #23 on: July 19, 2016, 08:47:17 pm »
We are doing very well, the post has climbed to the top of many of the most active boards:

Board Name __ Ranking

Investment __ 1

Bitcoin __ 2

Blockchain __ 2

Cryptocurrency __ 3

Money __ 4

Introduce yourself __ 4

Steemit __ 28

Oddly enough we are not getting votes from some of the biggest steemwhales - nearly all of whom have upvoted other posts over the past 12 hours.

There is no way they haven't seen the post as it's probably in the top 30 right now, not sure what's going on.

Offline sklsm3

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Re: Steem - What I am Doing About It and How I Need Your Help
« Reply #24 on: July 20, 2016, 01:56:48 am »
Heh, What if you decided just to keep that money?
This is moral hazard and dirty trick.

Offline oldman

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Re: Steem - What I am Doing About It and How I Need Your Help
« Reply #25 on: July 20, 2016, 04:39:47 am »
Heh, What if you decided just to keep that money?
This is moral hazard and dirty trick.

I will keep all the money, or I wouldn't be doing this. ;)

Remember that I'm not taking money or soliciting donations from the community, but rather investing considerable time to produce quality content and asking for votes - which are given voluntarily. I am then offering to put my 'sweat equity' to work for the community to purchase BTS and increase DEX liquidity in the hopes that it helps to boost BTS market cap - which is rational given that I have a substantial investment in BTS.


Offline fav

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Re: Steem - What I am Doing About It and How I Need Your Help
« Reply #26 on: July 20, 2016, 06:27:01 am »
very nice idea, you're not the only one buying some BTS from the revenue ;)

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Offline mf-tzo

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Re: Steem - What I am Doing About It and How I Need Your Help
« Reply #27 on: July 20, 2016, 08:12:49 am »
yes me too..any earnings from steems and steem dollars are going back straight to buy bts.
feel free to upvote my posts on steem https://steemit.com/[member=1532]mf-tzo[/member]

especially maybe the one that I discuss bitshares price discussion..mostly myself..

https://steemit.com/bitshares/[member=1532]mf-tzo[/member]/bitshares-price-discussion

Offline fav

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Re: Steem - What I am Doing About It and How I Need Your Help
« Reply #28 on: July 20, 2016, 11:04:13 am »
very nice idea, you're not the only one buying some BTS from the revenue ;)

https://steemit.com/@ash follow me!

So during the most lucrative early adoption phase of Steemit.com rewards, you relocated STEEM topics to the forum basement, and now, that many of our Bitshares community members have missed out on this generous gift of BTS, you suddenly allow the BitShares community to know how to grow their BTS holdings by STEEMIMG.

Was this by design?

The timing?

the consensus has changed. it's now about how steem can help bitshares, not about some non related altcoin.
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Offline karnal

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Re: Steem - What I am Doing About It and How I Need Your Help
« Reply #29 on: July 20, 2016, 11:45:21 am »
[member=11399]oldman[/member]: Upvoted

I finished writing a new piece this morning:

https://steemit.com/money/[member=33020]karnal[/member]/take-a-step-back

I felt it was a necessary detour before resuming writing about Bitshares on steemit. If you like it and would like to support my writing about bitshares on steemit, upvote!

I am making this (writing/explaining/brainstorming bitshares) a priority (as an experiment, let's see how well it goes) in my professional life right now.