Author Topic: Lets bring " earn x% interest on 'anything' " back to Bitshares!  (Read 57272 times)

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Offline tbone

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I mean the balance between shorters and longers are dynamic,
you can't give a simple rule to encourage shorter or longer
but the free market have already give the best direct to keep the balance.
when you see the bid price of CNY/BTS market is much high than others, it means we need encourage CNY  holders, you sell BTS for CNY then you get profit.
when you see the ask price of SILVER/BTS market is much lower than others, it means we need encourage SILVER shorters, you borrow SILVER, sell for BTS, then you get profit.
if you want to get rid of the price change risk of BTS, you just need to borrow CNY and SILVER, sell SILVER for CNY, arbit bot will take your order, and you will get your profit.

be a market maker, keep the balance, increase the liquid, you create value for Bitshares, and you get profit. this is the right way.

Yes, the market will always find a balance.  That's my point.  If the demand increases, then the supply will increase to meet it.  Why?  Because it's profitable for suppliers to do so.  @bitcrab is ready to supply more bitUSD, but he has said there is not enough demand.  So let's increase the demand by giving people more reasons to want bitAssets (esp. bitUSD and bitCNY to start)! 

For now that means offering an interest rate better than any bank (the interest rate can be reduced over time as bitAssets become more useful in commerce and natural demand increases).  Then supply will increase to meet this increased demand and find the balance.  With more users wanting to get in and out of bitAssets, there will be more opportunities for suppliers (market makers), and more opportunities for ordinary traders as well. 

Supply will definitely rise, but if it does not meet demand fast enough (which is a GREAT problem to have), then we can always offer some liquidity rewards with perhaps 5-10% of fees (coming from all the extra funds going back to the network).  These are the kinds of things we need to be doing, not just sitting around hoping something will happen. We have to MAKE it happen.

Either people here will understand this and we'll make the necessary adjustments so Bitshares can flourish.  Or we won't and Bitshares can just continue limping along.  We have a choice here.  Are we going to be winners or losers?  Now is the time to decide once and for all.
« Last Edit: April 12, 2017, 05:11:42 pm by tbone »

Offline fav

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@Thom I already organised and managed a project recently. apart from not getting paid for it, neither me nor any of the sponsors even received a "thank you". so I'd rather use the time to earn money for myself :)

Offline Thom

so who's formulating the idea and approaching blockpay.ch (via email)?

so... anyone?

Why not you fav? Your idea, take it and run with it. Just think, if you put the same effort into writing ken an email to look at key posts in this thread you believe are convincing, the task you're requesting others to do would already be done.


nope, not my idea, and I waste more than enough time on bts/projects :)

Quote
find a dev > get a quotation > then discuss > get shit done

this^^^

It wasn't your idea to contact BitShares Munich via email? Who's was it then? Me thinks it was you  ;)
« Last Edit: April 12, 2017, 03:27:17 pm by Thom »
Injustice anywhere is a threat to justice everywhere - MLK |  Verbaltech2 Witness Reports: https://bitsharestalk.org/index.php/topic,23902.0.html

Offline fav

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so who's formulating the idea and approaching blockpay.ch (via email)?

so... anyone?

Why not you fav? Your idea, take it and run with it. Just think, if you put the same effort into writing ken an email to look at key posts in this thread you believe are convincing, the task you're requesting others to do would already be done.

I know @kenCode and his team have a full plate of work, so I am doubtful on that basis alone he'll be interested in taking this on, but it never hurts to ask. IMO it's a worthy project that has great potential. Whether he agrees or wants to invest the effort to assess the code and then get a proposal written is any one's guess but his.
We could all discuss it in the next Bitshares hangout in person too.

find a dev > get a quotation > then discuss > get shit done

or discuss on a hangout and spin in cycles like this thread.

Offline fav

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so who's formulating the idea and approaching blockpay.ch (via email)?

so... anyone?

Why not you fav? Your idea, take it and run with it. Just think, if you put the same effort into writing ken an email to look at key posts in this thread you believe are convincing, the task you're requesting others to do would already be done.


nope, not my idea, and I waste more than enough time on bts/projects :)

Offline R

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so who's formulating the idea and approaching blockpay.ch (via email)?

so... anyone?

Why not you fav? Your idea, take it and run with it. Just think, if you put the same effort into writing ken an email to look at key posts in this thread you believe are convincing, the task you're requesting others to do would already be done.

I know @kenCode and his team have a full plate of work, so I am doubtful on that basis alone he'll be interested in taking this on, but it never hurts to ask. IMO it's a worthy project that has great potential. Whether he agrees or wants to invest the effort to assess the code and then get a proposal written is any one's guess but his.
We could all discuss it in the next Bitshares hangout in person too.

Offline Thom

so who's formulating the idea and approaching blockpay.ch (via email)?

so... anyone?

Why not you fav? Your idea, take it and run with it. Just think, if you put the same effort into writing ken an email to look at key posts in this thread you believe are convincing, the task you're requesting others to do would already be done.

I know @kenCode and his team have a full plate of work, so I am doubtful on that basis alone he'll be interested in taking this on, but it never hurts to ask. IMO it's a worthy project that has great potential. Whether he agrees or wants to invest the effort to assess the code and then get a proposal written is any one's guess but his.
« Last Edit: April 12, 2017, 01:55:36 pm by Thom »
Injustice anywhere is a threat to justice everywhere - MLK |  Verbaltech2 Witness Reports: https://bitsharestalk.org/index.php/topic,23902.0.html

Offline yvv

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I want 1000 SILVER without interest even -1% interest, can anybody sell SILVER to me?

you don't need to encourage the shorter or the longer, you need to encourage the traders, reward the traders.
liquid is the real problem we need to resolve.
with good liquid, more people will accept holder bitasset, more people will accept shorter bitasset. this is what happened today in bitCNY/bitUSD

I will ask people borrow CNY/USD/SILVER..., and be a market maker in pairs: CNY/USD, USD/SILVER, CNY/SILVER,
and this will give you more profit than the poor interest.

Most new comers to DEX do not understand very well how bitAssets work. For example in my mind BitSilver should be backed by Silver (not BTS) and a broker of that asset should provide liquidity (maybe 1% over and 1% under the spot price for buy/sell). If I can't buy and sell at the current real market price or get that silver shipped to me, then what's the point of holding it?
You want exposer to the value of silver not the actual metal. If you truly want silver go out and buy some physical silver. That applies to all the assests on the DEX. You are exposed to the underlining assets value, not physical properties. These are derivatives. Also if the value depended on a 3rd party having the physical good then that introduces counterparts risk and adds centralization which is goes against being a DEX.

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And there is no broker to provide liquidity at 1% spread. This is the idea behind DEX, you are your own broker. In this case, liquidity comes only with mass adoption. No mass adoption -> no liquidity, no liquidity -> no mass adoption, ... and so on in circle.

Offline Pheonike

I want 1000 SILVER without interest even -1% interest, can anybody sell SILVER to me?

you don't need to encourage the shorter or the longer, you need to encourage the traders, reward the traders.
liquid is the real problem we need to resolve.
with good liquid, more people will accept holder bitasset, more people will accept shorter bitasset. this is what happened today in bitCNY/bitUSD

I will ask people borrow CNY/USD/SILVER..., and be a market maker in pairs: CNY/USD, USD/SILVER, CNY/SILVER,
and this will give you more profit than the poor interest.

Most new comers to DEX do not understand very well how bitAssets work. For example in my mind BitSilver should be backed by Silver (not BTS) and a broker of that asset should provide liquidity (maybe 1% over and 1% under the spot price for buy/sell). If I can't buy and sell at the current real market price or get that silver shipped to me, then what's the point of holding it?
You want exposer to the value of silver not the actual metal. If you truly want silver go out and buy some physical silver. That applies to all the assests on the DEX. You are exposed to the underlining assets value, not physical properties. These are derivatives. Also if the value depended on a 3rd party having the physical good then that introduces counterparts risk and adds centralization which is goes against being a DEX.

Sent from my SM-N920T using Tapatalk


Offline sahkan

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I want 1000 SILVER without interest even -1% interest, can anybody sell SILVER to me?

you don't need to encourage the shorter or the longer, you need to encourage the traders, reward the traders.
liquid is the real problem we need to resolve.
with good liquid, more people will accept holder bitasset, more people will accept shorter bitasset. this is what happened today in bitCNY/bitUSD

I will ask people borrow CNY/USD/SILVER..., and be a market maker in pairs: CNY/USD, USD/SILVER, CNY/SILVER,
and this will give you more profit than the poor interest.

Most new comers to DEX do not understand very well how bitAssets work. For example in my mind BitSilver should be backed by Silver (not BTS) and a broker of that asset should provide liquidity (maybe 1% over and 1% under the spot price for buy/sell). If I can't buy and sell at the current real market price or get that silver shipped to me, then what's the point of holding it?

Offline alt

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I mean the balance between shorters and longers are dynamic,
you can't give a simple rule to encourage shorter or longer
but the free market have already give the best direct to keep the balance.
when you see the bid price of CNY/BTS market is much high than others, it means we need encourage CNY  holders, you sell BTS for CNY then you get profit.
when you see the ask price of SILVER/BTS market is much lower than others, it means we need encourage SILVER shorters, you borrow SILVER, sell for BTS, then you get profit.
if you want to get rid of the price change risk of BTS, you just need to borrow CNY and SILVER, sell SILVER for CNY, arbit bot will take your order, and you will get your profit.

be a market maker, keep the balance, increase the liquid, you create value for Bitshares, and you get profit. this is the right way.

Offline fav

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so who's formulating the idea and approaching blockpay.ch (via email)?

so... anyone?

Offline valtr

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It's not a either or. We need both. We need traders and we holders. Traders don't want to hold assets, they want to arbitrage between assets. Holders want stability.

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That is it. Nothing more to say.

Offline Pheonike

I want 1000 SILVER without interest even -1% interest, can anybody sell SILVER to me?

you don't need to encourage the shorter or the longer, you need to encourage the traders, reward the traders.
liquid is the real problem we need to resolve.
with good liquid, more people will accept holder bitasset, more people will accept shorter bitasset. this is what happened today in bitCNY/bitUSD

I will ask people borrow CNY/USD/SILVER..., and be a market maker in pairs: CNY/USD, USD/SILVER, CNY/SILVER,
and this will give you more profit than the poor interest.
It's not a either or. We need both. We need traders and we holders. Traders don't want to hold assets, they want to arbitrage between assets. Holders want stability.

Sent from my SM-N920T using Tapatalk


Offline alt

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I want 1000 SILVER without interest even -1% interest, can anybody sell SILVER to me?

you don't need to encourage the shorter or the longer, you need to encourage the traders, reward the traders.
liquid is the real problem we need to resolve.
with good liquid, more people will accept holder bitasset, more people will accept shorter bitasset. this is what happened today in bitCNY/bitUSD

I will ask people borrow CNY/USD/SILVER..., and be a market maker in pairs: CNY/USD, USD/SILVER, CNY/SILVER,
and this will give you more profit than the poor interest.