WOW GREAT VOLUME. Now that I've grabbed your attention, you want to read more about BitShares
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Hello Everyone,
I've had a preliminary idea for a worker proposal but I would like some more community discussion to improve it.
I posted about it in the price discussion thread but was advised by
@JonnyBitcoin to move to a separate thread to continue.
@MarkoPaasila @BunkerChain Labs In a nutshell;
However, people always run to where the largest noise is... We're not shooting fireworks off, nor is there any band playing. We have the quietest party on the block.
Could Reserve-Pool-Worker-funds be used to create orders on the DEX? To "make the market" with 0% spread so that the volume listed by third parties increases and we "make some noise". Coinmarketcap [has the option to] rank the exchanges (including the DEX) by the volume of bts traded in 24/hours.
Currently, the DEX ranks #3 by USD volume. $9,000 traded in 24hrs.
The #1 exchange is Poloniex, who trade $100k worth of bts per 24 hours.
To become #1 exchange (on a single given day) the DEX has to achieve another $90k volume of bitUSD traded vs bts.
Moving up the ranks so fast would get the DEX on a few more people's radars.
It DOES NOT MATTER THAT PEOPLE KNOW IT'S FAKE.
EXPOSURE
EXPOSURE
EXPOSURE
Trading bitUSD:bts between 2 accounts both funded by the Reserve Pool.
It's possible to make about 5,000 trades in a 24/hr period. (1 trade per ~20seconds)
Each trade would cost about 0.5bts.
5,000 trades * 0.5bts fee per trade = 2,500bts in total fees (paid to the network) to fake volume for 24hours.
At a price of $0.0056USD per bts; 2.5k bts would cost $14 per 24/hrs
The Reserve Pool Bot would boost the EXPOSURE of the DEX, and it would need capital (a fund of bitUSD and a fund of bts) to use to repeatedly trade back and forth.
If the target is to gain an extra $90,000 worth of volume (to rank #1 exchange):
$90,000(volume) / 5000 (# of trades) = $18.
$18 traded back and forth 5,000 times would produce $90,000 worth of volume, which would show up on coinmarket cap. Raising BitShares awareness, and getting exposure.
$18 is the minimum capital, and it would cost a flat rate of $14 per day.
If the Reserve Pool Bot had $500 worth of capital, the daily "demonstratable volume" would be $500*5,000 trades = $2.5Million. 24/hr volume. CRAY
Could a worker proposal fulfill this need?
Currently the lowest paid worker advertises on 8btc.com, costing 8,400bts per day.
The same payrate being directed to a "Reserve Pool Volume-Demonstrator Bot" would enable 5,000 trades per day, costing -2,500 bts per day. This leaves 5,900bts per day to accumulate in the capital fund.
If the worker proposal was accepted and properly/securely implemented:
Day 1: Bot has 5,900bts in capital (worth $33bitUSD). Bot pays $14 in fees to make the trades. The bot "fakes" $165k worth of volume on this day ($33*5,000)
Day 2: Bot has (5,900+5,900bts) worth $66bitUSD. Bot pays $14 in fees to make the trades.
The bot "fakes" $330k worth of volume on this day.
...Day 31: After 1 month the bot would have (5,900*31) 182kbts ($1000) accumulated in capital. The bot would spend 2,500bts (~$14) in fees on this day. The bot "fakes" $5,000,000 volume per day after 1 month of starting.
FIVE MILLION DOLLARS OF VOLUME PER DAY
QUESTIONS I WOULD LIKE ANSWERED:
#1 WHO COULD BE TRUSTED TO RUN THIS BOT?
#2 COULD THERE BE A TRUSTLESS SOLUTION?
#3 HOW MUCH "FAKE" VOLUME IS ENOUGH?
#4 HOW VALUABLE IS THIS KIND OF ADVERTISING EXPOSURE?
#5 COULD THERE BE A PROFITABLE METHOD THAT ACHIEVES THE SAME RESULTS?
COULD IT BE TRUSTLESS?
Topic: The Reserve-pool-funded Volume on DEX. Worker Proposal? 5Million USD 24hr Volume (Read 5805 times)
