bitusd peg

[bitstopia2049]

is there anything being done to help restore it ?

https://decrypt.co/8195/retail-giant-walmart-mulls-centralized-stablecoin?utm_source=feed&utm_medium=Feed

https://beincrypto.com/walmart-follows-facebooks-footsteps-filing-new-digital-currency-patent/


20190323
https://bitsharestalk.org/index.php?topic=27733.msg328409#msg328409

https://bitsharestalk.org/index.php?topic=27733.msg328431#msg328431

[bitstopia2049]

Open Market or Insurance Fund or Reserve Fund

Settlement is mostly meant to be used when the market does not provide sufficient liquidity, so that's not an answer.
We don't have an Insurance Fund, so you must spec out that too.
We have so far strictly avoided using the reserves for bailing out speculators, and IMO that's a good thing. I hope such a proposal will have little chance to succeed.

Point is this ....needs to get started or once again an opportunity will be blown..

Then go ahead and write a specification. Answering a few select questions on a simple example is not one.

To sschiessl ..or any dev who has time..

Is the current version of HTLC considered "trustless"  or will that be a feature in the next iteration?
https://github.com/bitshares/bitshares-core/wiki/HTLC

As currently shown...............https://wallet.bitshares.org/#/htlc

In this version

" 5. Redeem the HTLC (recipient)

    bob will obtain the preimage from alice, likely after performing the agreed upon task..."

If alice decides not to send the preimage even after the task is completed        ...then bob is .....?


If truly trustless this could be a solution to above problem....(at least until something better comes along, if ever..)

https://bitsharestalk.org/index.php?topic=27733.msg330985#msg330985

https://bitsharestalk.org/index.php?topic=28491.msg331534#msg331534

To sschiessl ..or any dev anyone with knowledge on the issue who has time..?

[bitstopia2049]

UPDATE
This movie did not have a happy ending...

https://decrypt.co/8086/bitmarket-exchange-tobias-nemiro-dead-poland

Co-owner of shuttered Polish cryptocurrency exchange Bitmarket found dead

The body of Tobias Niemiro was discovered yesterday with a bullet shot to the head.
By Adriana Hamacher

July 26, 2019

Police are investigating the death of Tobias Niemiro, a Polish entrepreneur and co-owner of cryptocurrency exchange Bitmarket, which closed on July 8 under suspicious circumstances.

Niemiro’s body was found with a bullet wound to the head on Thursday in a forest near his home city of Olsztyn, three hours from the Polish capital, Warsaw, according to local radio. The exact circumstances of his death are, as yet, unconfirmed.

Poland’s leading newspaper, Gazeta Wyborcza, which has been heavily following the story, suggested that Niemiro, 44, had committed suicide.

[bitstopia2049]

Open Market or Insurance Fund or Reserve Fund

Settlement is mostly meant to be used when the market does not provide sufficient liquidity, so that's not an answer.
We don't have an Insurance Fund, so you must spec out that too.
We have so far strictly avoided using the reserves for bailing out speculators, and IMO that's a good thing. I hope such a proposal will have little chance to succeed.

Point is this ....needs to get started or once again an opportunity will be blown..

Then go ahead and write a specification. Answering a few select questions on a simple example is not one.

To sschiessl ..or any dev who has time..

Is the current version of HTLC considered "trustless"  or will that be a feature in the next iteration?
https://github.com/bitshares/bitshares-core/wiki/HTLC

As currently shown...............https://wallet.bitshares.org/#/htlc

In this version

" 5. Redeem the HTLC (recipient)

    bob will obtain the preimage from alice, likely after performing the agreed upon task..."

If alice decides not to send the preimage even after the task is completed        ...then bob is .....?


If truly trustless this could be a solution to above problem....(at least until something better comes along, if ever..)

https://bitsharestalk.org/index.php?topic=27733.msg330985#msg330985

https://bitsharestalk.org/index.php?topic=28491.msg331534#msg331534

[bitstopia2049]

We are close to blackswan again. Least collateral ratio 1.272

Compaired to bitCNY, bitUSD has almost zero buying volume.

We all use these types of products...every day...

https://www.indiegogo.com/projects/public-goods-revolutionizing-household-products--3#/

This is a young company. HQ in NYC..{a crowdfunded startup}....I expect that if  the foundation reached out and educated them ..BBF could negotiate acceptance of bitUSD and other smartcoins ...
This is something ALL BitShares supporters (regardless of faction) can support...We ALL spend hundreds of dollars  on products like these over the course of weeks or months...so why not ?

In particular the female demograpic is sorely lacking in the crypto world and they generally do the spending, budgeting and influencing when it comes to household shopping..
This is the type of demographic that can appreciate the money savings that BTS can provide on transaction fees
and could also be producers of stablecoins.as well as save on credit card interest / paypal fees..and gain potential earnings from referral fees..

This is a use case with the potential to also illustrate to other merchants the superiority of BTS blockchain for retail sales...

[Note:   the developer who started DOGECOIN in 2014 was motivated " to create a fun cryptocurrency that could reach a broader demographic than Bitcoin."  and now...
(Today:  #28  US $404.6 m Market Cap and $41m   24hr Vol.)      #61   BTS:139m / 2.095 m]

https://www.crowdfundinsider.com/2019/05/147081-coinbase-announces-support-for-dogecoin-doge-on-coinbase-wallet/

=========================
There are some youtube links with honest (not sponsored) reviews below...

https://www.indiegogo.com/projects/public-goods-revolutionizing-household-products--3#/

https://blog.publicgoods.com/
https://blog.publicgoods.com/how-to-choose-the-right-filter-for-your-drinking-water/

personal care and household goods
How does shipping work?
Contiguous US shipping is free for orders over $45. For international orders, the shipping cost will depend on your location and the size of the package.

They have a limited time promotion of lifetime memberships..

Secret
1x LIFETIME MEMBERSHIP
$69 USD   -- Regular $99 (30% off)
Never over pay for premium natural products again. Get a lifetime membership and access to all PUBLIC GOODS household, personal care and food products products… FOR LIFE!
Included Items
  Lifetime Membership    Only 224 left
===================================

for women
PUBLIC GOODS HAUL + REVIEW
https://www.youtube.com/watch?v=Bmdi3FrptKk
https://www.youtube.com/watch?v=8EVOvU00qpo
https://www.youtube.com/watch?v=dbgqkWZIH7c

[bench]

We are close to blackswan again. Least collateral ratio 1.272

Compaired to bitCNY, bitUSD has almost zero buying volume.

The bitCNY fees could be used to buy BTS, borrow bitUSD and settle bitUSD.

[Thul3]

We are close to blackswan again. Least collateral ratio 1.272

Charts also indicating a reversal for alts soon.

[abit]

We are close to blackswan again. Least collateral ratio 1.272

[bitstopia2049]

I don't think the peg is a big problem.

but I am confused that why now very few users are interested in bitUSD.

because of the black swan bitUSD lost most trust?

                  USDT....like going to the movies

Wikipedia definition -- 
            Suspension of disbelief
The term suspension of disbelief or willing suspension of disbelief has been defined as a willingness to suspend one's critical faculties and believe something surreal; sacrifice of realism and logic for the sake of enjoyment.

https://decrypt.co/7795/investigators-tether-loaned-usdt-to-investors-illegally-traded-in-new-york-ran-an-unregistered-securities-offering

[Excerpt  (NYAG= New York Attorney General) ]

   Tether untethered

"...In April 2019, the NYAG released a damning action letter alleging that the exchange had dipped into Tether’s reserves—blithely using it as a “slush fund”—to fill an $850 million hole in its finances incurred by the losses of those funds from its shady payment processor, Crypto Capital Corps. The processor’s various ersatz bank accounts had been seized by law enforcement in
Poland, Portugal and the United States.

Bitfinex, having left a gaping hole in Tether’s dollar reserves, then proceeded to pay Tether back via a “line of credit” facilitated through a ledger entry with Crypto Capital, according to the NYAG. Prosecutors allege that the companies then used shares of their parent company, iFinex, to collateralize the deal. .."


"...What the NYAG provided yesterday is comprehensive. Exhibits included in the latest filing appear to show that Bitfinex and Tether allowed New York investors—including the high profile Galaxy Digital CEO Mike Novogratz—to trade and redeem tethers until “early 2019,” when the investigation itself was well under way....

"...Worse, the document alleges that the companies went to extraordinary lengths to accomodate their large New York investors, who apparently made up a considerable portion of the companies’ wealthiest customers. “In fact,” alleges the NYAG, Bitfinex and Tether assisted certain traders in “establishing foreign shell entities to become the nominal account holders—a work-around of Respondents’ purported ‘ban.’”..."


As transparent as the origins of bitUSD, bitCNY, bitXXX are - traders don't have to "suspend disbelief" to hold BTS stablecoins....Imagine making 10x ROI on BTC trade over the past 6 months..only to wake up one day and find out you've been Goxxed via USDT.... It seems only prudent to at least hedge by holding some part of profits in "healthier" stablecoins...better to patiently ride out an Altcoin bear than to lose everything..

... but I think this definition applies:

   Suspension of Disbelief - mediacollege.com
   https://www.mediacollege.com/glossary/s/suspension-of-disbelief.html

   Suspension of Disbelief. This is a semi-conscious decision in which you put aside your disbelief and accept the premise as being real for the duration of the story.

   Suspension of disbelief only works to a point. It is important that the story maintains its own form of believability and doesn't push the limits too far.

Question becomes how long is the "duration" of the Tethers story?

Obviously these "insiders" have seen the documentary.."The Smartest Guys in the Room"  and are anticipating leaving low man on the totem pole holding the bag.........Again..!

https://bitcoinist.com/16-million-worth-bitcoin-missing-as-exchange-quits-business/

A Poland-based Bitcoin exchange has abruptly shut down operations, taking away the cryptocurrency funds of thousands of users alongside
===
UPDATE:  Unfortunately this is not a movie...


                                     A BLACK SWAN IS A LOW PROBABILITY, LARGE IMPACT EVENT

"... a highly improbable event that catches most everyone by surprise and can potentially disrupt human activities or create havoc..."

[bitstopia2049]

I don't think the peg is a big problem.

but I am confused that why now very few users are interested in bitUSD.

because of the black swan bitUSD lost most trust?

Because more trust is placed in USDT ....Because of Marketing or because of unlimited printing?

https://dailyhodl.com/2019/06/29/crypto-whales-move-444-million-in-bitcoin-as-tether-moves-millions-in-usdt/

https://dailyhodl.com/2019/06/30/billionaire-investor-betting-on-bitcoin-and-cryptocurrency/

https://dailyhodl.com/2019/06/27/china-calls-bitcoin-safe-haven-asset-as-global-economic-tensions-rise/


Maybe Asia based tycoons could put 2+ 2 together and figure out   >>   = BTS

[bitstopia2049]

I don't think the peg is a big problem.

but I am confused that why now very few users are interested in bitUSD.

because of the black swan bitUSD lost most trust?

BTS supporters know that Bitshares is "better than" BTC -  faster, cheaper, scalable, etc., etc.
but how to convince an ordinary (non-crypto) person or family member who trusts your opinion to invest or spend $1000
e.g

Investment vehicles...

Bank savings account or time deposit -     since November 24 2018      ~  0.4% APR         $2.33  profit           ROI     0.233%      perception : no risk of loss of principal

BTC  -  price was 3854  and on June 22nd   1:43pm UTC    price is   ~ $11085              $1876  profit                ROI  187.6%     (high volatility)

BTS (bit USD settlement price)  was     ~ $US   0.0511   -    (190622)    ~ 0.067            $311   profit          ROI  31%         (med volatility)

Gold               US$ 1221 per ounce..        ~    1399.31                      $146  profit                ROI   14.6%     (low volatility)   


Utility value  versus fiat : 

 BTC - allows for purchases of some goods and services;  remittances to family, friends, business associates, who understand crypto
CANNOT use to pay taxes, university tuition fees,  political campaign contributions, donate to charities... yet..

Gold -Relatively stable investment, retirement savings, high liquidity, transferable asset to heirs, hedge against fiat, etc

BTS -  not as volatile as BTC at the moment, has lots of potential, needs postive black swan to catch up to XRP, ETH, LTC, EOS, XMR, BCH, DOGE, ZEC

and the new kid on the Block (Chain)    LIBRA    (FACEBOOK) !

[bitcrab]

I don't think the peg is a big problem.

but I am confused that why now very few users are interested in bitUSD.

because of the black swan bitUSD lost most trust?

[bitstopia2049]

It always comes down to this...everything gets personal.

I'm sorry if my tone was offensive. It wasn't meant to be.

What I'm trying to say is - it's easy to say "we need this" but it's damn hard to get the details right. I don't see how this idea could be made to work, and despite the fact that it has been brought up repeatedly over the past two years or so, *nobody* has come up with a detailed description of *how exactly* it could be done.

That's why I say "Write a BSIP". *Someone* has to come up and describe the mechanics of a bitasset that is backed by multiple tokes at once. You don't need a deep understanding of MCR and MSSR. Maybe it's even better if you don't know much about these, and come up with your own ideas instead. Write down what you think it means to have an asset backed by two other assets. Describe what different actors in this model can do, like short tokens, trade tokens, settle tokens.

Once you're finished, start attacking your model with questions like mine above - "What if...?". If you model has an answer to all your questions it might be time to show it to the public, and see how it holds against *their* questions. I'm pretty sure if you come up with a working model it will be accepted.

Thanks for your reply...No worries...I understand your dilemma.

Part of my exasperation is that it SEEMS like the marketing aspect of BTS does not get the support or attention from Whales that it needs ..and of course given the BTS governance structure that is the only type of attention that matters..

What's frustrating to me (and I suspect many others) is that there never seems to be even a consensus to TRY something ..any marketing effort that all supporters of BTS can contribute to..(whether whales or not)...https://bitsharestalk.org/index.php?topic=27733.msg328382#msg328382

As I said in this thread 60+ days ago  "we won't succeed  if we don't try"   (https://bitsharestalk.org/index.php?topic=27733.msg328539#msg328539)

A lot of energy just gets dissipated in debate & dispute...and the perfect (solution) becomes the enemy of the good..

e.g..The above referenced analysis done by Mr. Cryptic1 at dexbot.info....I thought there might at least be a discussion on here regarding the report's conclusions and/or suggestions by subject matter experts,

The report clearly states,

"...factors that need widespread dissemination and discussion. I believe all policy makers would be better informed after considering the ideas contained here in.." 

My perception is that for such a long time marketing efforts are invariably submerged by what seems like a singular focus on the financial engineering aspects of the ecosystem..which by it's nature tends to dissuade a part of the BTS community from joining the discussion...including newbies, (i.e community growth)..

If anyone other than a whale or some sort of influential equivalent poses marketing ideas it shouldn't feel like a thankless task to be ignored or maybe a vector for personal attack, I for one would just consider it  like  "open source brainstorming"...

My attempts to start a discussion ..feels like tossing confetti into the wind instead of seeds onto soil. . 
(but we were in agreement here....https://bitsharestalk.org/index.php?topic=27733.msg328409#msg328409)..

If the discussions on here are made more appealing..maybe some solution to the questions you pose (regarding allowing BitAssets to be backed by other coins), might emerge from the collective wisdom and energy of a larger group of participants...You never know when or how a moment of inspiration will occur....

Speaking of which...a moonshot idea occurred to me whilst in the kitchen...

so I sent bitcrab a PM....instead of giving up and not even trying...I think that was the responsible thing to do..

[larsonreever]

There's no step by step instructions in the Tech Support section of the forum either..

[pc]

It always comes down to this...everything gets personal.

I'm sorry if my tone was offensive. It wasn't meant to be.

What I'm trying to say is - it's easy to say "we need this" but it's damn hard to get the details right. I don't see how this idea could be made to work, and despite the fact that it has been brought up repeatedly over the past two years or so, *nobody* has come up with a detailed description of *how exactly* it could be done.

That's why I say "Write a BSIP". *Someone* has to come up and describe the mechanics of a bitasset that is backed by multiple tokes at once. You don't need a deep understanding of MCR and MSSR. Maybe it's even better if you don't know much about these, and come up with your own ideas instead. Write down what you think it means to have an asset backed by two other assets. Describe what different actors in this model can do, like short tokens, trade tokens, settle tokens.

Once you're finished, start attacking your model with questions like mine above - "What if...?". If you model has an answer to all your questions it might be time to show it to the public, and see how it holds against *their* questions. I'm pretty sure if you come up with a working model it will be accepted.

[bitstopia2049]

Open Market or Insurance Fund or Reserve Fund

Settlement is mostly meant to be used when the market does not provide sufficient liquidity, so that's not an answer.
We don't have an Insurance Fund, so you must spec out that too.
We have so far strictly avoided using the reserves for bailing out speculators, and IMO that's a good thing. I hope such a proposal will have little chance to succeed.

Point is this ....needs to get started or once again an opportunity will be blown..

Then go ahead and write a specification. Answering a few select questions on a simple example is not one.

I could engage but..
It always comes down to this...everything gets personal.

If the whales have the most votes..stand to benefit the most..and are adept at writing "specifications" given the constant tinkering over MCR,, MSSR.etc.etc.,   (and history shows they are the only proposals that get approved..)..is it minnows responsibility to write specifications...that's like a lawyer disagreeing with his client and having a tantrum and says, "OK..go ahead..represent yourself in court"...

and yet your reply to me is " go ahead you do it..".....

You know what...I'm done.....Keep talking to yourselves...I'm sure shortly there will be a stampede of buyers for BTS because...MCR is now 1.6!

In sports when the team players, the manager, the owners, the sponsors, the fans are all bickering because of the franchises losing record..

  there is a saying..."Winning solves a lot of problems"..

If we're going to make it personal..

Engineers are not Marketers and Marketers are not Engineers...

e.g   Steve Jobs and Stephen Wozniak...made Apple Inc..a winner

[pc]

Open Market or Insurance Fund or Reserve Fund

Settlement is mostly meant to be used when the market does not provide sufficient liquidity, so that's not an answer.
We don't have an Insurance Fund, so you must spec out that too.
We have so far strictly avoided using the reserves for bailing out speculators, and IMO that's a good thing. I hope such a proposal will have little chance to succeed.

Point is this ....needs to get started or once again an opportunity will be blown..

Then go ahead and write a specification. Answering a few select questions on a simple example is not one.

[bitstopia2049]

Given the current crypto bull market sentiment...wouldn't it make sense to for a BSIP to be put up for a vote to accomplish this..?...

Of course it would make sense. Problem is... we don't have such a BSIP. People keep requesting this, but so far nobody has come up with an explanation *how exactly* this would work.

What does it *mean* to have an asset backed by different things? Suppose for example that bitUSD was backed by BTS and OPEN.BTC. Can you short bitUSD by putting up either BTS or OPEN.BTC as collateral? Or 50% of each? What does it mean for forced settlement? Can the settler choose if he receives BTS or OPEN.BTC? If he chooses BTS but the least collateralized short is backed by OPEN.BTC, where does the chain find BTS for him? What if OL goes bankrupt, so the OPEN.BTC collateral is worthless but the BTS collateral is not?

A BSIP must answer all these questions, and many more.

What does it *mean* to have an asset backed by different things? Suppose for example that bitUSD was backed by BTS and OPEN.BTC.

 Can you short bitUSD by putting up either BTS or OPEN.BTC as collateral?  Yes

Or 50% of each? NO    it should be TWO separate short transactions..

What does it mean for forced settlement?  Can the settler choose if he receives BTS or OPEN.BTC?  NO

 If he chooses BTS but the least collateralized short is backed by OPEN.BTC, where does the chain find BTS for him?   

Open Market or Insurance Fund or Reserve Fund

What if OL goes bankrupt, so the OPEN.BTC collateral is worthless but the BTS collateral is not?

Insurance Fund

Point is this ....needs to get started or once again an opportunity will be blown..

[pc]

Given the current crypto bull market sentiment...wouldn't it make sense to for a BSIP to be put up for a vote to accomplish this..?...

Of course it would make sense. Problem is... we don't have such a BSIP. People keep requesting this, but so far nobody has come up with an explanation *how exactly* this would work.

What does it *mean* to have an asset backed by different things? Suppose for example that bitUSD was backed by BTS and OPEN.BTC. Can you short bitUSD by putting up either BTS or OPEN.BTC as collateral? Or 50% of each? What does it mean for forced settlement? Can the settler choose if he receives BTS or OPEN.BTC? If he chooses BTS but the least collateralized short is backed by OPEN.BTC, where does the chain find BTS for him? What if OL goes bankrupt, so the OPEN.BTC collateral is worthless but the BTS collateral is not?

A BSIP must answer all these questions, and many more.

[bitstopia2049]

Requested to link this from bitstopia

https://imgur.com/a/PVGXxYm

In case you missed it...This was an interesting data analysis... 

https://steemit.com/bitshares/@paws1t1veev/analysis-of-bitusd-global-settlement

https://www.dexbot.info/2019/05/21/understanding-trading-activity-and-potential-causes-of-bitasset-settlement/

one of the conclusions/suggestions...

Allow BitAsset issuance to be backed by other Coins…

Yes, This is a change in one of the core BTS principles. However, BTS may fail if it does not adapt. Allowing a diversified holdings of coins (BTC, LTC, ETH, BTS, and more) could improve stability of BTS. In Investing, there are very few free lunches. Holding a diversified portfolio is one of the only “free lunches” in investing.

Given the current crypto bull market sentiment...wouldn't it make sense to for a BSIP to be put up for a vote to accomplish this..?...

The BTS price is not rising at the same rate along with the rest of the crypto market because there is insufficient demand

so how to generate more demand?  and how else to enable traders/market makers to increase the amount bitUSD into existence?

Maybe then the foundation's marketing or a more vigorous and innovative marketing worker can offer this as a stable coin to a national consumer retail chain that wants to increase it's market share versus Amazon, reduce transaction costs, and have a secure, time-tested, fast, energy efficient payment processing application, with smart contracts and all the advantages over fiat currencies...

Or just wait to end up like Toys 'R US

or SEARS   https://www.usatoday.com/story/money/2019/04/18/sears-lawsuit-eddie-lampert-esl-investments/3507382002/

or..

Why can't I buy this stuff with bitUSD?

https://shop.yang2020.com/products/math-hat
https://shop.yang2020.com/collections/apparel

(Since first debate is June 26 and June 27 I suspect that people will be buying more after these dates..)

[bitstopia2049]

I guess it's hard to make you happy.

They have what seems like a cumbersome aspect to their donation procedure " a 15 minute phone call"..   

https://www.cnet.com/news/cryptocurrency-needs-governments-help-says-presidential-hopeful-andrew-yang/


My pro-bitshares alter ego says there's a way to automate it with a BTS wallet .   Am I wrong?    Would it require a BSIP or not?
Maybe a dev could answer that question...that would make me happy

An automated process could persuasively illustrate the fundraising cost savings.. energy efficiency & security of the DPOS system as well as the laissez-faire foundation of crytptocurrency

Fundraiser would be nothing more than creating a new token, possible create some nice UX for it and sell it / give it away, no BSIP needed.

Thanks for your reply..
How does creating a new token incorporate compliance with their contribution rules ?
https://docs.google.com/forms/d/e/1FAIpQLSdytCf7EoM2IPF26w-6HTqg1Sib7nwu5eMXRsThwMm7cKAPAA/viewform

[sschiessl]

I guess it's hard to make you happy.

They have what seems like a cumbersome aspect to their donation procedure " a 15 minute phone call"..   

https://www.cnet.com/news/cryptocurrency-needs-governments-help-says-presidential-hopeful-andrew-yang/


My pro-bitshares alter ego says there's a way to automate it with a BTS wallet .   Am I wrong?    Would it require a BSIP or not?
Maybe a dev could answer that question...that would make me happy

An automated process could persuasively illustrate the fundraising cost savings.. energy efficiency & security of the DPOS system as well as the laissez-faire foundation of crytptocurrency

Fundraiser would be nothing more than creating a new token, possible create some nice UX for it and sell it / give it away, no BSIP needed.

[bitstopia2049]

I guess it's hard to make you happy.

They have what seems like a cumbersome aspect to their donation procedure " a 15 minute phone call"..   

https://www.cnet.com/news/cryptocurrency-needs-governments-help-says-presidential-hopeful-andrew-yang/


My pro-bitshares alter ego says there's a way to automate it with a BTS wallet .   Am I wrong?    Would it require a BSIP or not?
Maybe a dev could answer that question...that would make me happy

An automated process could persuasively illustrate the fundraising cost savings.. energy efficiency & security of the DPOS system as well as the laissez-faire foundation of crytptocurrency

[bitstopia2049]

Please voice your wishes, suggestions or ideas for the marketing worker in a constructive way, I will happily listen.

Stefan see what I was predicting both in the PM I  sent you on 3/20 and earlier in this thread...

What better way to demonstrate his Democracy Dollars concept  than right now establishing a Bitshares UIA as I described..

first debates are 6 weeks away....it's an opportunity to reach thousands of early adopters and average, but motivated (non-crypto) people and build awareness or at the very least create a single purpose BTS wallet..! 

(I don't know exactly how DOGE or Crypto Kitties got started..but sometimes it just takes a little spark..)

https://www.yang2020.com/blog/3-dc-rally/

Examples :

Andrew Yang made his CNN Town Hall look easy   (16 mins)
https://www.youtube.com/watch?v=w72n4SAC7m0

Restoring Democracy Andrew Yang Town Hall with Lawrence Lessig   (81 mins)
https://www.youtube.com/watch?v=kjiHwx6bpkg

[bitstopia2049]

is there anything being done to help restore it ?

https://www.spreaker.com/user/8321539/how-things-spread_2

starting @28:54 - 42:10         for those who don't have an hour

====================================
I've wondered what the foundation does  or can do?

How to get your ideas to spread - Seth Godin

https://www.youtube.com/watch?v=xBIVlM435Zg

[bitstopia2049]

Action taken earlier might have been perceived differently given that bitUSD was in GS status for months

I wouldn't through random assumptions when the "whale" who bought the majority of the BTS from the auction was one of the people who was most active, tried everything and even invested a lot of his own assets to not let global settlement happen.I haven't seen you being active like him to prevent that global settlement.I remember it where the "whale" even come to bitshares dex telegram group asking to take together actions to prevent this situation.

Haven't seen your support at that time.

I am not a member of the dex telegram group so I would be unaware...I will take your word that the whale has good intentions and I wish him well. I'm just voicing my opinion on this particular action at this moment in time.   Now that he has more at stake he should be leading the way to advocate for something different like..hmm...I don't know....maybe "hiring" DeCEO..

[bitstopia2049]

The intent of BSIP-18 is not to allow people to do something good for the community. Its intent is to provide a mechanism for revival, and incentives to use it. This has worked out nicely.

Bidding "at the last minute" makes sense, economically, if you want to acquire as much from the pool as possible. Just like on ebay, bidding early only drives the price up. IMO this behaviour is neither benevolent nor malevolent. It can be called selfish, but that's OK - we're acting in a market here, and participants are expected to act selfish. That's just how things work.

Note that the bidders has also accepted a significant risk with this investment. If the BTS price drops again, he might lose all of it.

I was not criticizing the quality or design of the mechanism of revival...A taxi is not intended to be used as an ambulance...but if circumstances warrant it then the vehicle can "allow people to do something good for the community"

I understand your perspective.... i.e. from a developer's view it was "nice" to see BSIP-18 work...but I suspect that most BTS holders would have preferred that the situation never got to that stage...sort of like how most flight attendants know the various emergency routines and where the exit doors are located, etc...but would be perfectly happy to go an entire career and never have to use them..

So I acknowledge it makes sense from a personal gain perspective...but the context here is trying to EXPAND the universe of BTS users...After all why did bitUSD go into GS status in the first place?
Bringing an Ebay sniper's tactic to this particular auction, under the circumstances, IMO is not positioning oneself with the best risk reward ratio...Sometimes "less is more and more is less"

The bidder could have increased his/her/their wealth just as much if not more, if BTS market cap goes from $150m to 500m or more without taking all that risk if the bidder had a different philosophical outlook, rather than the typical Wall St. attitude.  Spread the risk (among more people) means also spreading the reward.

 I mean don't you see the irony here given that Bitshares was created based primarily on a philosophy that was decidedly non-selfish?  "we're acting in trying to revive a market here,"

 It will take a collective effort to raise the BTS market cap to a level that it deserves...If you constantly raise the level of cynicism and or deprive people of incentives to participate just because you can..

..Well...He who has the gold rules...until there's nothing and no one left to rule.

[xeroc]

Succeeding in BSIP18 bidding has nothing to do with being a whale.

It's purely based on how much risk you're willing to take.

This!
Anyone could have put up a bid with collateral ratio of 20x, which would have resulted in getting fractions of the settlement pool.

And non of that was *new* or *unknown*. It's all written in the BSIP. Whether people understand the described
mechanics sufficiently to make use of them or not, is another question. There certainly was quite some education
going on on STEEM and on telegram. Probably also on Weechat.

[clockwork]

I guess it's hard to make you happy.

How could a benevolent whale participate (if such a person exists!) even if he or she wanted to?

Let the whales work...they could have easily remained on the sidelines during the bitUSD revival auction and let minnows and others participate...but they could not resist flexing their muscles

Thanks for your reply...It is not really about my happiness...I want the idea of DECENTRALIZATION to succeed...I want BTS to succeed..If I was selfish or mercenary in my disposition I would have lost interest in BTS a long time ago..

Benevolence:  the quality of being well meaning; kindness;

I find it hard to believe that submitting a bid on $3.8m of debt at the last minute (figuratively speaking) and blowing everyone else out of the water would be associated with "benevolence"…If there was some kind of "Robin Hood" intent underlying the action ..Well...I don't see it.... this just comes off as a plunderous stunt.

Action taken earlier might have been perceived differently given that bitUSD was in GS status for months..  My rough estimation -  ONE account acquired ~92% and another dozen accounts ~7%...So roughly 10 people (or groups) acquired 99% of the debt.   Is that really the size of the Bitshares universe?

I am not implying ALL whales have piratic intentions…but clearly if the idea is to entice users to expand the realm of BTS and acquire advocates across the globe, this was a chance to do that organically and at the same time show the resiliency of BTS and the extent of community support....   Some opportunities only come along once..

Succeeding in BSIP18 bidding has nothing to do with being a whale.

It's purely based on how much risk you're willing to take.

[Thul3]

Action taken earlier might have been perceived differently given that bitUSD was in GS status for months

I wouldn't through random assumptions when the "whale" who bought the majority of the BTS from the auction was one of the people who was most active, tried everything and even invested a lot of his own assets to not let global settlement happen.I haven't seen you being active like him to prevent that global settlement.I remember it where the "whale" even come to bitshares dex telegram group asking to take together actions to prevent this situation.

Haven't seen your support at that time.

[pc]

The intent of BSIP-18 is not to allow people to do something good for the community. Its intent is to provide a mechanism for revival, and incentives to use it. This has worked out nicely.

Bidding "at the last minute" makes sense, economically, if you want to acquire as much from the pool as possible. Just like on ebay, bidding early only drives the price up. IMO this behaviour is neither benevolent nor malevolent. It can be called selfish, but that's OK - we're acting in a market here, and participants are expected to act selfish. That's just how things work.

Note that the bidders has also accepted a significant risk with this investment. If the BTS price drops again, he might lose all of it.

[bitstopia2049]

I guess it's hard to make you happy.

How could a benevolent whale participate (if such a person exists!) even if he or she wanted to?

Let the whales work...they could have easily remained on the sidelines during the bitUSD revival auction and let minnows and others participate...but they could not resist flexing their muscles

Thanks for your reply...It is not really about my happiness...I want the idea of DECENTRALIZATION to succeed...I want BTS to succeed..If I was selfish or mercenary in my disposition I would have lost interest in BTS a long time ago..

Benevolence:  the quality of being well meaning; kindness;

I find it hard to believe that submitting a bid on $3.8m of debt at the last minute (figuratively speaking) and blowing everyone else out of the water would be associated with "benevolence"…If there was some kind of "Robin Hood" intent underlying the action ..Well...I don't see it.... this just comes off as a plunderous stunt.

Action taken earlier might have been perceived differently given that bitUSD was in GS status for months..  My rough estimation -  ONE account acquired ~92% and another dozen accounts ~7%...So roughly 10 people (or groups) acquired 99% of the debt.   Is that really the size of the Bitshares universe?

I am not implying ALL whales have piratic intentions…but clearly if the idea is to entice users to expand the realm of BTS and acquire advocates across the globe, this was a chance to do that organically and at the same time show the resiliency of BTS and the extent of community support....   Some opportunities only come along once..

[pc]

I guess it's hard to make you happy.

How could a benevolent whale participate (if such a person exists!) even if he or she wanted to?

Let the whales work...they could have easily remained on the sidelines during the bitUSD revival auction and let minnows and others participate...but they could not resist flexing their muscles

[bitstopia2049]

FTR - BitUSD has been revived a couple of hours ago.

Thanks, I noticed...

Whales are short sighted in their avarice...why?   They did not allow the bitusd revival to incent more people to participate in bts development/improvement

They gained more..but at what cost?      Why should I or others contnue to volunteer ideas, suggestions, etc.. when it seems like a small group of people are only interested in becoming obscenely wealthy and care for nothing else...

Earlier in this thread I mentioned the Yang campaign and my prediction ...He is picking up momentum.

https://www.youtube.com/watch?v=GZJiZC89HBc

Central Banks Are Failing, Will UBI Work?


Yet I received no reply, action, suggestions for follow ups....certainly not from the WHALES (or their reps) who found the time to vacuum up most of the bitUSD debt..

They have the most to gain with BTS improvement..so why not set up a multi-sig wallet and contribute a tiny fraction of their wealth to pay for a DeCEO?   

Schieesel posted the graphic I drafted to start a discussion...

Let the whales work...they could have easily remained on the sidelines during the bitUSD revival auction and let minnows and others participate...but they could not resist flexing their muscles at a time when BTS needs more and more people contributing ideas, energy, curating and distributing information and having a stake in BTS ascension...

That's what marketing is...bringing more people into the BTS universe and showing them its capabilities and brilliance..  It is supposed to be perceived as a leader in decentralized exchanges and DAC's..not the just simply another manipulated playground. So at the moment my feeling is, given their recent actions, let the whales work...they own the most, so they should work the hardest (or hire someone to do so)...

[pc]

FTR - BitUSD has been revived a couple of hours ago.

[sschiessl]

Requested to link this from bitstopia

https://imgur.com/a/PVGXxYm

[abit]

Please voice your wishes, suggestions or ideas for the marketing worker in a constructive way, I will happily listen.

https://cointelegraph.com/news/united-states-crypto-platform-huobicom-launches-fiat-crypto-trading

Does anyone have any experience with this exchange?   Can the foundation make a proposal to them to add BTS-USD pair..?

A direct fiat USD/BTS on ramp would be a major boon to a revamped Bitshares marketing campaign...

Obviously the sooner bitUSD is revived the stronger case the foundation can make...

Also..


https://www.newsbtc.com/2019/02/21/underestimate-samsung-galaxy-s10-crypto-millions-exposed-bitcoin/

I wonder if this announcement by Samsung had any influence on the BTS price spike on Upbit Exchange...Is Samsung aware of BTS' superior capabilities. ?

Is there a bitKRW asset? 

US$ =  1138 KRW   CNY = 169 KRW

@bitstopia2049 & clockwork, thank you for the replies.

Please confirm the following hypothetical bid for BitUSD

mcr 1.75
GS 0.051
Debt I will take 10,000 bitUSD
Additional Collateral I provide 400,000 bts
CR 59.608
call price would be 0.029

Based on the formulas and bitUSD revives with my bid being inclusive, I am essentially "rewarded" an additional 200,000 bts as collateral in the long position?

Essentially, yes, if your bid is included, you get a debt position whose debt is 10,000 bitUSD and collateral is your additional BTS plus that 200,000 BTS. The higher "additional_collateral / debt" ratio, the higher possibility that your bid will be included.

[pc]

So the only real incentive to bid is for quicker revival of bitUSD?

While under GS, bitUSD is backed by (pegged to) a fixed amount of BTS. After revival, it will be pegged to USD again, and it will be backed by a variable amount of BTS. You can expect the bitUSD internal market price to drop sharply from slightly below MCR to around 1 USD.

This is also the point where the bidder is rewarded. By bidding successfully, you "buy" a position consisting of debt and equally valued collateral. Immediately after revival, the debt is worth much less, which means your position gains value. The price you pay for this is that both your bid and the bought collateral are locked up, until you pay back the debt.

[Brekyrself]

Thanks again.

I misunderstood the steemit article thinking by bidding the system was providing additional collateral as incentive to bid however the bts received at the end of the day is just what you would get by selling bitusd at a certain price?

Using the system before GS was simple, borrow bitusd with safe CR, sell bitusd at market price for bts.  If bts went up in price, your in the green, if it went down, your in the red.

That brings up the question with bidding. in the UI there is the label of "bid price."  Does this mean that if the system revives and our bid is included that is the price we borrow and sell bitusd for bts at?  Or is the price the system revives at where bitusd is sold for bts?

Yes....the Settlement Price

NO the bid price is just for ranking purposes and to determine if your bid will be included when the revival happens, several bidders could outbid you for example and push your ranking down..After the revival it is up to you when, how  or if, you want sell the bitUSD...The BTS price will be going up and down per usual trading activity...
[/quote]

So the only real incentive to bid is for quicker revival of bitUSD?

[bitstopia2049]

Thanks again.

I misunderstood the steemit article thinking by bidding the system was providing additional collateral as incentive to bid however the bts received at the end of the day is just what you would get by selling bitusd at a certain price?

Using the system before GS was simple, borrow bitusd with safe CR, sell bitusd at market price for bts.  If bts went up in price, your in the green, if it went down, your in the red.

That brings up the question with bidding. in the UI there is the label of "bid price."  Does this mean that if the system revives and our bid is included that is the price we borrow and sell bitusd for bts at?  Or is the price the system revives at where bitusd is sold for bts?
[/quote]

Yes....the Settlement Price

NO the bid price is just for ranking purposes and to determine if your bid will be included when the revival happens, several bidders could outbid you for example and push your ranking down..After the revival it is up to you when, how  or if, you want sell the bitUSD...The BTS price will be going up and down per usual trading activity...

[Brekyrself]

@bitstopia2049 & clockwork, thank you for the replies.

Please confirm the following hypothetical bid for BitUSD

mcr 1.75
GS 0.051
Debt I will take 10,000 bitUSD
Additional Collateral I provide 400,000 bts
CR 59.608
call price would be 0.029

Based on the formulas and bitUSD revives with my bid being inclusive, I am essentially "rewarded" an additional 200,000 bts as collateral in the long position?

I think the easiest way to approach it to make it less confusing..is to settle on what level of CR you want and then work from there...

Let's say upon revival you wish to maintain a minimum CR 3.00 with 10k debt position;  Settlement price = 19.55496 bts/bitUSD

So you will need in total $30,000 in collateral.
and the revival price is 11.17426 bts/bitUSD   (without bids)
So total BTS required = 335,228
The collateral associated with 10k debt in the settlement fund = 195,550
Therefore additional collateral required  =  139,678 with your starting call price =  0.02983 bitUSD
and your bid position  13.96 bts/bitUSD  and  CR  =  0.831

Always keep in mind however that you are taking on debt,I wouldn't consider the settlement collateral a "reward"....It is a bet.
You can do the same calculation using the revival price including bids if you want.
[/quote]

Thanks again.

I misunderstood the steemit article thinking by bidding the system was providing additional collateral as incentive to bid however the bts received at the end of the day is just what you would get by selling bitusd at a certain price?

Using the system before GS was simple, borrow bitusd with safe CR, sell bitusd at market price for bts.  If bts went up in price, your in the green, if it went down, your in the red.

That brings up the question with bidding. in the UI there is the label of "bid price."  Does this mean that if the system revives and our bid is included that is the price we borrow and sell bitusd for bts at?  Or is the price the system revives at where bitusd is sold for bts?

[bitstopia2049]

Please voice your wishes, suggestions or ideas for the marketing worker in a constructive way, I will happily listen.

So I sent the PM in here to you on March 20th ? 

To Moderator:  Does this forum allow for posting of a  *.png   graphic?   or do you have to be a Senior Member? 

[bitstopia2049]

@bitstopia2049 & clockwork, thank you for the replies.

Please confirm the following hypothetical bid for BitUSD

mcr 1.75
GS 0.051
Debt I will take 10,000 bitUSD
Additional Collateral I provide 400,000 bts
CR 59.608
call price would be 0.029

Based on the formulas and bitUSD revives with my bid being inclusive, I am essentially "rewarded" an additional 200,000 bts as collateral in the long position?
[/quote]

I think the easiest way to approach it to make it less confusing..is to settle on what level of CR you want and then work from there...

Let's say upon revival you wish to maintain a minimum CR 3.00 with 10k debt position;  Settlement price = 19.55496 bts/bitUSD

So you will need in total $30,000 in collateral.
and the revival price is 11.17426 bts/bitUSD   (without bids)
So total BTS required = 335,228
The collateral associated with 10k debt in the settlement fund = 195,550
Therefore additional collateral required  =  139,678 with your starting call price =  0.02983 bitUSD
and your bid position  13.96 bts/bitUSD  and  CR  =  0.831

Always keep in mind however that you are taking on debt,I wouldn't consider the settlement collateral a "reward"....It is a bet.
You can do the same calculation using the revival price including bids if you want.

[clockwork]

Please voice your wishes, suggestions or ideas for the marketing worker in a constructive way, I will happily listen.

https://cointelegraph.com/news/united-states-crypto-platform-huobicom-launches-fiat-crypto-trading

Does anyone have any experience with this exchange?   Can the foundation make a proposal to them to add BTS-USD pair..?

A direct fiat USD/BTS on ramp would be a major boon to a revamped Bitshares marketing campaign...

Obviously the sooner bitUSD is revived the stronger case the foundation can make...

Also..


https://www.newsbtc.com/2019/02/21/underestimate-samsung-galaxy-s10-crypto-millions-exposed-bitcoin/

I wonder if this announcement by Samsung had any influence on the BTS price spike on Upbit Exchange...Is Samsung aware of BTS' superior capabilities. ?

Is there a bitKRW asset? 

US$ =  1138 KRW   CNY = 169 KRW

@bitstopia2049 & clockwork, thank you for the replies.

Please confirm the following hypothetical bid for BitUSD

mcr 1.75
GS 0.051
Debt I will take 10,000 bitUSD
Additional Collateral I provide 400,000 bts
CR 59.608
call price would be 0.029

Based on the formulas and bitUSD revives with my bid being inclusive, I am essentially "rewarded" an additional 200,000 bts as collateral in the long position?

with the existing GS data (settlement pool/debt? although these constantly change as people settle their bitusd) ?

assume current bids as well (which are everchanging) ?

[Brekyrself]

Please voice your wishes, suggestions or ideas for the marketing worker in a constructive way, I will happily listen.

https://cointelegraph.com/news/united-states-crypto-platform-huobicom-launches-fiat-crypto-trading

Does anyone have any experience with this exchange?   Can the foundation make a proposal to them to add BTS-USD pair..?

A direct fiat USD/BTS on ramp would be a major boon to a revamped Bitshares marketing campaign...

Obviously the sooner bitUSD is revived the stronger case the foundation can make...

Also..


https://www.newsbtc.com/2019/02/21/underestimate-samsung-galaxy-s10-crypto-millions-exposed-bitcoin/

I wonder if this announcement by Samsung had any influence on the BTS price spike on Upbit Exchange...Is Samsung aware of BTS' superior capabilities. ?

Is there a bitKRW asset? 

US$ =  1138 KRW   CNY = 169 KRW

@bitstopia2049 & clockwork, thank you for the replies.

Please confirm the following hypothetical bid for BitUSD

mcr 1.75
GS 0.051
Debt I will take 10,000 bitUSD
Additional Collateral I provide 400,000 bts
CR 59.608
call price would be 0.029

Based on the formulas and bitUSD revives with my bid being inclusive, I am essentially "rewarded" an additional 200,000 bts as collateral in the long position?

[bitstopia2049]

Please voice your wishes, suggestions or ideas for the marketing worker in a constructive way, I will happily listen.

Stefan I sent you an email

[bitstopia2049]

Does anyone have any experience with this exchange?   Can the foundation make a proposal to them to add BTS-USD pair..?

Huobi has a BTS/USDT pair.
Since they got now a USD/USDT pair it shouldn't be a big problem to exchange them anytime.
Will have a look at it.

Great...it would certainly help to be able to refer people to a direct US fiat to BTS on ramp...

USDT  had a BIG problem in the US...Wells Fargo Bank cut off all fiat transfers and deposits for US citizens between Hong Kong..I think and US...

I don't have much time now (work) but will check later .

[bitstopia2049]

Please voice your wishes, suggestions or ideas for the marketing worker in a constructive way, I will happily listen.

https://cointelegraph.com/news/united-states-crypto-platform-huobicom-launches-fiat-crypto-trading

Does anyone have any experience with this exchange?   Can the foundation make a proposal to them to add BTS-USD pair..?

A direct fiat USD/BTS on ramp would be a major boon to a revamped Bitshares marketing campaign...

Obviously the sooner bitUSD is revived the stronger case the foundation can make...

Also..


https://www.newsbtc.com/2019/02/21/underestimate-samsung-galaxy-s10-crypto-millions-exposed-bitcoin/

I wonder if this announcement by Samsung had any influence on the BTS price spike on Upbit Exchange...Is Samsung aware of BTS' superior capabilities. ?

Is there a bitKRW asset? 

US$ =  1138 KRW   CNY = 169 KRW

yes there is..not much used though

Well maybe because they don't know it exists...Obviously based on the activity on Upbit Exchange there is a strong BTS interest there...

Can the foundation at least send an exploratory email to Samsung and reach out to them..?   
They are clearly looking for new things to put into their smartphones....they might even be willing to be a market maker in bitKRW... BTS won't succeed if we don't try..

What is the foundation being paid for?

[Thul3]

Does anyone have any experience with this exchange?   Can the foundation make a proposal to them to add BTS-USD pair..?

Huobi has a BTS/USDT pair.
Since they got now a USD/USDT pair it shouldn't be a big problem to exchange them anytime.
Will have a look at it.

[clockwork]

Please voice your wishes, suggestions or ideas for the marketing worker in a constructive way, I will happily listen.

https://cointelegraph.com/news/united-states-crypto-platform-huobicom-launches-fiat-crypto-trading

Does anyone have any experience with this exchange?   Can the foundation make a proposal to them to add BTS-USD pair..?

A direct fiat USD/BTS on ramp would be a major boon to a revamped Bitshares marketing campaign...

Obviously the sooner bitUSD is revived the stronger case the foundation can make...

Also..


https://www.newsbtc.com/2019/02/21/underestimate-samsung-galaxy-s10-crypto-millions-exposed-bitcoin/

I wonder if this announcement by Samsung had any influence on the BTS price spike on Upbit Exchange...Is Samsung aware of BTS' superior capabilities. ?

Is there a bitKRW asset? 

US$ =  1138 KRW   CNY = 169 KRW

yes there is..not much used though

[clockwork]

Still trying to wrap my head around bsip18 after reading: https://steemit.com/bitshares/@haruka/detailed-mechanism-of-global-settlement-black-swan-and-reviving-of-bitassets

Please correct me if I am wrong about the following:

-By bidding for the settlement fund we are essentially bidding for a position at a specific bitusd/bts price?

-If enough bids happen and this revives, we essentially skip the step of having to sell bitusd for bts in the open market after borrowing bitusd into existence?

-If the above is correct and we had enough BTS backing, we could essentially open a position at $0.01 with 1k debt and 100k collateral?

End of the day I want to borrow bitusd and buy more bts with it by using existing bts as collateral.  Since that is not available at the moment, is the above method correct to get a position when this revives?

Attempt at a quick and easy explanation.

Right now , there is X amount of bitUSD in existence in the wild backed by Y amount of BTS collateral (the settlement fund)

Assuming no bids,

at some point , if BTS rises enough, Y will be 1.75x the value of X. At that point, the asset owner (committee-account) would acquire a position  of X debt backed by Y collateral at 1.75 CR

(you can imagine that  the asset owner has an implicit bid at 0 ratio if noone else bids).

Now , every bid someone makes takes the form of Y' BTS  for X' amount of debt.

This lowers the price at which revival will take place (since backing collateral is increased by Y') and bidders acquire the relevant position until debt is covered (ordered by descending ratio). If debt is not covered, the owner implicit-bid picks up the rest.

To try with numbers:

Assume 100 BTS (settlement fund) is backing 10$ (bitUSD in circulation) and current price is 10 BTS/$.

Asset would be revived when BTS price rose enough so that 100 BTS = 17.5 USD.

At that time, committee-account would acquire a position 100 BTS collateral tied up , 10 USD debt and 1.75 CR.

Now...if instead you placed a bid for 75 BTS for 10$ of debt, total collateral would reach 175BTS for the total 10$ fulfilling the 1.75x requirement and teh asset would be revived instantly.

You would then acquire a 175 BTS /10$ debt position , essentially "gaining" 100BTS (albeit tied up in a long position).

[bitstopia2049]

Please voice your wishes, suggestions or ideas for the marketing worker in a constructive way, I will happily listen.

https://cointelegraph.com/news/united-states-crypto-platform-huobicom-launches-fiat-crypto-trading

Does anyone have any experience with this exchange?   Can the foundation make a proposal to them to add BTS-USD pair..?

A direct fiat USD/BTS on ramp would be a major boon to a revamped Bitshares marketing campaign...

Obviously the sooner bitUSD is revived the stronger case the foundation can make...

Also..


https://www.newsbtc.com/2019/02/21/underestimate-samsung-galaxy-s10-crypto-millions-exposed-bitcoin/

I wonder if this announcement by Samsung had any influence on the BTS price spike on Upbit Exchange...Is Samsung aware of BTS' superior capabilities. ?

Is there a bitKRW asset? 

US$ =  1138 KRW   CNY = 169 KRW

[bitstopia2049]

I know nothing about video games...but is there any marketing worker focused on this sector?   
It seems that  3 second block times would be perfect for their use

There is no worker currently for this. I am working by myself on a game (idle style game) that should be theoretically possible to track on-chain. But it is slow going since it is a side project. If there was a worker that supported work like that it would make development happen faster...

I hear you...I think the sooner bitUSD is revived, along with a market cap increase, the more willingness there will be for stakeholders to allocate resources and vote for sector focused workers to be approved..

As per usual during bear markets - use the time to prepare for when the bull returns  (i.e work on improving the product)

[bitstopia2049]

By bidding for the settlement fund we are essentially bidding for a position at a specific bitusd/bts price?

      YES, ( and the more collateral you bid the better your position)

-If enough bids happen and this revives, we essentially skip the step of having to sell bitusd for bts in the open market after borrowing bitusd into existence?    YES, essentially

-If the above is correct and we had enough BTS backing, we could essentially open a position at $0.01 with 1k debt and 100k collateral?    YES,

but you would not want to tie up that much collateral for a relatively small amount of debt.....

a revival will only happen when the MCR is greater than 1.75....

 either because the feed price has increased sufficiently - e.g auto revival

 or because the total amount of collateral bids is greater than 1.75 x #bitshares in the settlement fund..

or some combination of both..

@bitstopia2409

How is call price calculated in the steemit example?  I am trying to figure out real life examples to bid...

https://steemit.com/bitshares/@haruka/detailed-mechanism-of-global-settlement-black-swan-and-reviving-of-bitassets

Basically...in the Alice example...

Debt / Feed Price   =>   $50 / 0.50 bitUSD/bts   =  100 bts      {so this is the current value of the debt in BTS}

Therefore  Collateral Ratio (CR) =   150 bts / 100 bts  = 1.5

The call price  =>   Debt / Collateral =   50 bitUSD / 150 bts  =  0.333 bitUSD / BTS

The main thing to remember is that the call price will change with the changing Feed Price..so therefore you want to add a prudent amount of collateral so that with price volatility you afford yourself adequate protection...or at least as much as you can afford...otherwise your stomach will churn with each price movement..

e.g  if Maintenance CR = 1.75  and Debt = 100 bitUSD  and Feed Price = 0.50 bitUSD

using the same calculation you would need 350 BTS minimum collateral and call price  0.28 bitUSD { but you should have an MCR  much > 1.75}

if you were to increase your collateral to say.. 400, 450, 500, 750 BTS then your corresponding call price would decrease to 0.25, 0.22, 0.20, 0.133 respectively
so even if there was a sudden drop in feed price from 0.50 with sufficient collateral hopefully you would not get margin called
and would have time to either add more collateral or reduce your debt position..

[Brekyrself]

By bidding for the settlement fund we are essentially bidding for a position at a specific bitusd/bts price?

      YES, ( and the more collateral you bid the better your position)

-If enough bids happen and this revives, we essentially skip the step of having to sell bitusd for bts in the open market after borrowing bitusd into existence?    YES, essentially

-If the above is correct and we had enough BTS backing, we could essentially open a position at $0.01 with 1k debt and 100k collateral?    YES,

but you would not want to tie up that much collateral for a relatively small amount of debt.....

a revival will only happen when the MCR is greater than 1.75....

 either because the feed price has increased sufficiently - e.g auto revival

 or because the total amount of collateral bids is greater than 1.75 x #bitshares in the settlement fund..

or some combination of both..

@bitstopia2409

How is call price calculated in the steemit example?  I am trying to figure out real life examples to bid...

https://steemit.com/bitshares/@haruka/detailed-mechanism-of-global-settlement-black-swan-and-reviving-of-bitassets

[sschiessl]

Please voice your wishes, suggestions or ideas for the marketing worker in a constructive way, I will happily listen.

I know nothing about video games...but is there any marketing worker focused on this sector?   
It seems that  3 second block times would be perfect for their use?

https://www.cryptonewsz.com/blockchain-boom-in-the-virtual-games-divisions-trending-now-more-than-ever/12434/


Also I know there is a bounty program for acquiring exchange listings..

Was anyone responsible for today's BTS listing on Upbit Exchange (S. Korea) ? or are they just smart operators?

https://coingape.com/bitshares-bts-fusion-fsn-flash-rise/

I don't have games in the focus at the moment. I think those short-term click adventures are all focusing on EOS atm

[iamredbar]

I know nothing about video games...but is there any marketing worker focused on this sector?   
It seems that  3 second block times would be perfect for their use

There is no worker currently for this. I am working by myself on a game (idle style game) that should be theoretically possible to track on-chain. But it is slow going since it is a side project. If there was a worker that supported work like that it would make development happen faster...

[abit]

Can someone explain the best way to "arb" this in terms of USD? I can just buy BTS, and sell on the BTS/USD market (for a higher price, in exchange for risk of holding BitUSD)?

IMHO the best way is to participate in collateral bidding, you'll get a (cheap) debt position if succeeded, in the risk of being margin called later. The higher current BTS price is, the higher potential profit and lower risk will you have.

[bitstopia2049]

Please voice your wishes, suggestions or ideas for the marketing worker in a constructive way, I will happily listen.

I know nothing about video games...but is there any marketing worker focused on this sector?   
It seems that  3 second block times would be perfect for their use?

https://www.cryptonewsz.com/blockchain-boom-in-the-virtual-games-divisions-trending-now-more-than-ever/12434/


Also I know there is a bounty program for acquiring exchange listings..

Was anyone responsible for today's BTS listing on Upbit Exchange (S. Korea) ? or are they just smart operators?

https://coingape.com/bitshares-bts-fusion-fsn-flash-rise/

[bitstopia2049]

I think if there is one downside to decentralization is that there is no leader or CEO to take charge and provide the drive and vision going forward...

Absolutely!

Looking at the current Stablecoin universe -  https://ecoin4dummies.com/2019-stable-coins-year-reasons/

The market leader is USDT - centralized, and main questions is does it really have the fiat it claims to back it., and suspicions around the people behind it?

USDC (Poloniex {Goldman Sachs}, Gemini $,  DAI and .Paxos - (ERC 20 tokens).. each have their weaknesses.

BTS has..

...transaction speed capability of  100k/sec  and minimal transaction costs....What's the best network speed for ERC 20 based token can theoretically achieve?

...the capability of an entity (government) to birth its own MPA...
(Wasn't there a project related to issuing EC$ - Eastern Caribbean dollar on the DEX for the seven nations of the Organization of Eastern Caribbean States?)

With growth potential embodied in BEOS (EOS), Quintric, BitSpark, multilingual gateways, merchant POS terminals, User Issued Assets, etc.,

and fundamental features of being trustless (no counterparty) and relatively energy efficient.

why shouldn't BTS smartcoins be the leader of the pack..?

A very good article here for those who need a primer...

https://multicoin.capital/2018/01/17/an-overview-of-stablecoins/

{excerpt..}
Stablecoins are one of the highest convexity opportunities in crypto. They aim to become global, fiat-free, digital cash, so the total addressable market (TAM) is simply that of all the money in the world: ~$90T. The opportunity for stablecoins is, intrinsically, the largest possible TAM. This vision is larger than that of Bitcoin itself. A fiat-free currency that’s price stable will challenge the legitimacy of weak governments around the world

....four features that a cryptocurrency needs in order to become global, fiat-free, digital cash:

    Price stability
    Scalability
    Privacy
    Decentralization (i.e. collateral is not held by a single entity, like Tether)

BTS is lagging in the Privacy area...it needs to make that Stealth feature available like yesterday..

It is entirely possible that stablecoins could provide the desired stability without maintaining a perfect peg. In fact, once economies develop around the stablecoin itself, the peg will begin to matter less and less. If merchants are willing to hold and accept USD-pegged stablecoins, and they in turn pay their suppliers in the same stablecoin, and that stablecoin is widely used as a medium of exchange, then maintaining a perfect peg becomes increasingly less important.


why should BTS (and all other crypto it seems) prices go up and down based primarily on BTC's movement? 

Particularly when the BTC price can be manipulated because ...

https://www.bloomberg.com/news/articles/2017-12-08/the-bitcoin-whales-1-000-people-who-own-40-percent-of-the-market

“I think there are a few hundred guys,” says Kyle Samani, managing partner at Multicoin Capital. “They all probably can call each other, and they probably have.”


Cboe pulls the plug on bitcoin futures trading — for now
https://www.marketwatch.com/story/cboe-pulls-the-plug-on-bitcoin-futures-trading-for-now-2019-03-15

I think the sooner BTS can "delink" itself from the volatility of BTC the sooner it will be able to cut it's own path to the top -- based on its own merits..

[bitstopia2049]

I think if there is one downside to decentralization is that there is no leader or CEO to take charge and provide the drive and vision going forward...

Absolutely!

I wish your view was multiplied by a thousand (or 10e+6)
It has been a glaring need for some time now...almost the Achilles Heel of Decentralization...and a solution needs to be found (for everyone's sake who cares about Decentralization)

By its global nature Bitshares requires motivated marketers with regional and cultural expertise or knowledge or institutional access.to spearhead multiple, simultaneous awareness campaigns.

Look, it may be an unpleasant fact to some but the reality is that bitUSD is a representation of the world's reserve (fiat) currency (for however long it lasts..) so right now what BTS needs is some sort of catalyst event..(financial, economic, political or some combo)   to spur the demand by average consumers to switch from credit cards and paypal to crypto..(essentially)

What could be a catalyst?   

One never knows, but...
e.g   https://finance.yahoo.com/news/amazon-fear-driving-retailers-microsoft-144000748.html

Amazon's increasing expansion into the grocery business was among the reasons cited by Albertson's for the move to "modernize its infrastructure and in-store experiences," according to the report. Azure was the clear choice due to its track record with large enterprises, big retailers, and the technical capabilities of its cloud.
==
https://www.referralcandy.com/blog/compete-with-amazon/

Amazon is Threatening to Kill Retailers in 10 Industries

Amazon is Worth More Than America’s 8 Largest Retailers Combined

So leverage the existential threat that Amazon represents into just one of the Top 8 accepting bitUSD... (the rest will follow because they have to be willing to take risks, be innovative and forward thinking lest they get crushed under Amazon's boot... No industry is safe...(see article link).
                  ================================
Branding, Branding, Branding...-  stand for something....BTS should be synonymous with environmentally friendly and energy efficient forget all the techno -jargon for now…(the breadth and depth of Bitshares features  and capabilities will be discovered by the masses with time.)  and it does not have to be antagonistic towards BTC maximalists or alt-coin communities…the global market is big enough so each can find its niche (see DOGE and Crypto Kitties)

Everybody needs or wants Goods & Services on some level or other…Retailers want to supply those G & S and distinguish their brand from their competitors…. somehow....
Well climate change is getting more and more mainstream media coverage...and people are taking more and more “radical” action or looking from another perspective, “ready to ditch the traditional way of doing things.”

Greta Thunberg, the Swedish schoolgirl who has inspired an international movement to fight climate change, has been nominated as a candidate to receive this year's Nobel Peace Prize. The 16-year old...

(https://www.bbc.com/news/world-europe-47568227)

So politically inspired people need Goods and Services too. and can influence their parents, classmates, teachers, etc. who in turn can influence retailers with their purchasing power. They can and will focus and leverage that power if given an appropriate tool to do so on worldwide basis.  These are MOTIVATED consumers who have shown that they will go out of their way to try and achieve their goals.... 

Bitshares is a “radical” innovation too..BTS can step up to this market opportunity with a targeted marketing campaign that includes online advertising, group leader referral campaigns, educational seminars or youtube videos illustrating BTS eco-friendliness, etc., adoption by high profile influencers.

Retailers are quite motivated to associate their brands with positive social change...BTS is a powerful and inspiring platform for them do so and be profitable at the same time..

Highly recommend reading these articles regarding Nike/Kaepernick..

https://blog.assentcompliance.com/index.php/nike-stock-benefits-from-consumer-activism-in-wake-of-just-do-it-campaign/

http://www.marketingjournal.org/stand-for-something-brand-activism-at-nike-christian-sarkar-and-philip-kotler/

Here are the numbers, via Scott Galloway, who says:

Nike registers $35B in revenues — $15B domestically and $20B abroad. Two-thirds of Nike consumers are under the age of 35. A younger consumer who can afford $150 Flyknit racers likely has substantial disposable income and lives in a city.  The term for this cohort? Progressive. Of the $20B international customer base, how many believe the US is currently a “beacon on a hill” and is handling race issues well? I’ll speculate, none. Nike has risked $1-3B in business to strengthen their relationship with consumers who account for $32-34B of their franchise. The math? Nike just did it.
What this means is that companies must understand the trajectory of the customer’s social beliefs, and race to meet them.  The leaders will, in all probability, profit over the laggards.

This is not rocket science...it's data analysis...

As the demand for stablecoins grows and increasing numbers of non-technical consumers become aware of Bitshares Smartcoins like bitUSD (or bitCNY, bitEuro, bitGold, bitSilver, etc..) that will have a ripple effect of attracting the individual and institutional traders who have the wherewithal to be market makers in various easy to grasp crypto assets like BTWTY or Twentix (http://bittwenty.com/twentix.php?&page=twentix) or other UIA's and lesser known derivatives that have very little liquidity on the DEX at the moment..

The critical thing is to do so while the windows of opportunities exist…NOW....like as I mentioned above regarding Andrew Yang's presidential campaign…(first debates are in June)..otherwise it may be too late.

…and who benefits from BTS scraping along the bottom of the Top 50 Market Cap index for another year....to the point of irrelevance, when at a minimum it should consistently be in the Top 10.

I could go on, but this post may already be in TL:DR territory and this board is not the most liveliest of places...but you get the drift...

Why don’t the BTS Whales just vote in a temporary CEO for 6 mo. or 1 yr with regular milestones to measure progress…with a big bonus for success...you know like a "normal" business?   I’m sure many on the BTS Rich List can “donate” 1% of their holdings w/o any pain!

{Label the position a "DeCEO' - Decentralized CEO}  - or something…tasked to manage the various marketing workers around the world…After all.. Whales have the most to gain...so why not?   They can go back to their squabbles and competing with each other after BTS reaches say,5% of BTC's market cap....or is that too low a goal ?!  Where's AI when you need it..LOL!


Can someone post a link to this on Discord or Steemit or wherever the Whales hangout..... (All for one and one for all, united we stand divided we fall)    Ha!

[pc]

I think if there is one downside to decentralization is that there is no leader or CEO to take charge and provide the drive and vision going forward...

Absolutely!

[bitstopia2049]

Please voice your wishes, suggestions or ideas for the marketing worker in a constructive way, I will happily listen.

Thanks for replying......I thought I was being "constructive" .. I guess it's a matter of perspective..

I think it would be prudent to send you my thoughts via PM first..I'm sure there are BTS competitors who do not want to see any Bitshares success...as well as those who flood threads with spam...

You can reach me
 - in here
 - in telegram via @sschiessl
 - via email stefan.schiessl@blockchainprojectsbv.com

Thanks!

Visa is unlikely to ever reduce their fees..

https://bitcoinist.com/kroger-smiths-visa-bitcoin-lightning-network/

[excerpt...

US retail giant, Kroger, is no longer accepting Visa credit cards at its chain of Smith’s food and drug stores. So Anthony Pompliano tweeted an offer to hook them up with Bitcoin’s Lightning Network nationwide

........In the circumstances, it seemed only natural for somebody to suggest a crypto alternative,
        A couple of hours later a product manager from Kroger Digital tweeted a response and set up a conversation.

....The Morgan Creek Digital team will fly to meet them and get them hooked up with the Lightning Network nationwide.

...Obviously, the Ripple army dove right onto this, questioning Lightning Network’s readiness, and suggesting XRP as a better alternative....]


If the Ripple promoters can jump in why can't the BTS marketing worker make a pitch...After all, ONLY the foundation and an approved worker are the only legal reps for Bitshares..

Even if they choose BTC or XRP or something else...just by BTS marketing worker making the effort will put Bitshares on their radar screen...not to mention if it is used by a presidential campaign..

I think if there is one downside to decentralization is that there is no leader or CEO to take charge and provide the drive and vision going forward...

Given this retailer is the largest in the country..it would be easy to also show how they could also immensely profit by simply creating a loyalty type token using the HERO type business model..
in addition to their cost saving on credit card fees...

It would certainly spur accelerated development of the BTS mobile app..  Whatever happened to.BLOCKPAY as the POS terminal solution...?

Sometimes I wish Bitshares whales would just vote in a temporary CEO..so it could have a leader to  get things done.

[bitstopia2049]

Please voice your wishes, suggestions or ideas for the marketing worker in a constructive way, I will happily listen.

Thanks for replying......I thought I was being "constructive" .. I guess it's a matter of perspective..

I think it would be prudent to send you my thoughts via PM first..I'm sure there are BTS competitors who do not want to see any Bitshares success...as well as those who flood threads with spam...

You can reach me
 - in here
 - in telegram via @sschiessl
 - via email stefan.schiessl@blockchainprojectsbv.com

Thanks!

OK I have sent you a PM in here..

20-03-19

coinmarketcap top 100


Market cap 140.226 billion...with BTC accounting for almost 51%

ETC ~ 500m (19)
Waves ~ 279m (25)
Doge ~ 244m (26)

BTS ~136m  (46) 0.097%
and then looking at the Blocktvity Index...and BTS has an AVI almost 1099 !   

(WAX has the highest AVI but the index counts Transactions not Operations)


So stating the obvious hyperbolically

BTS is criminally and insanely undervalued...but then again we are living in age where you don't have to be smart to get into Yale, Stanford, USC, University of Texas, UCLA, etc. or even be an athlete to get an athletic scholarship

..Makes you wonder about the engineers working on Boeing 737 Max 8..

[sschiessl]

Please voice your wishes, suggestions or ideas for the marketing worker in a constructive way, I will happily listen.

Thanks for replying......I thought I was being "constructive" .. I guess it's a matter of perspective..

I think it would be prudent to send you my thoughts via PM first..I'm sure there are BTS competitors who do not want to see any Bitshares success...as well as those who flood threads with spam...

You can reach me
 - in here
 - in telegram via @sschiessl
 - via email stefan.schiessl@blockchainprojectsbv.com

Thanks!

[bitstopia2049]

https://bitcoinist.com/andrew-yang-2020-president-bitcoin/

BTS community may have a window of opportunity here...Bitshares could get a lot of good (free) publicity out of this
if bitUSD, (or bitSilver or Gold) was his top crypto donation...instead of btc, eth, xmr, ltc, xrp    or others

Don't put your faith in him.Crypto is a governmental product.Bitcoin is the forerunner for a cashless society.
You should listen more to IWF so you will know what will happen once the transformation has been finished.
IWF even found a way to put negative rates on paper money which won't be exchanged into "virtual money"

So what would you suggest?   We try nothing..give up and go home...

It is not a matter of trusting him...

cashless societies or not....the critical factor is "who is the issuer of the currency"

BTS is decentralized, trustless, no counterparty, energy efficient..and someday (hopefully) stealth transactions and assets..


try to be a bit more optimistic... or less negative

IWF?  do u mean IMF

Its not about being negative.
Its about being realistic.
They are implementing the cashless society to implement another agenda they have.For that they need control over a coin.
The final goal is a governmental issued coin linked to a specific asset to limit Q3.
Bitcoin,Bitshares etc would be never accepted as major currency.Its a preperrer of their own governmental coins.
Bitshares however has the great potential to co-exist to governmental coins which bitcoin hasn't.

And like i said its not about being negative maybe just more well informed which may look outside like being one sided and negative.

We try nothing..give up and go home...

Never said that.What i said is it would be a waste of resouces trying your proposal as they follow their own agenda which is the opposite of ours.

But since bitshares is really decentralised noone is stopping you for going your own way which you choose as the right one.

While BTS (marketing worker) is sleeping..or not "wasting resources"

https://www.investors.com/news/technology/fis-acquire-worldpay-payment-processing/

Fidelity National Acquires Worldpay As Mergers Rock Payment Processing

https://www.techradar.com/news/worldpay-acquired-in-dollar35bn-deal

" While other industries have grown increasingly concerned about trade tensions and a global economic slowdown, the financial technology sector is consolidating at a rapid rate with McKinsey predicting that global payments will reach $3tn a year in revenue by 2023."


Whales must be able to see that right now BTS could easily capture 1+% of this growing market.

OK..so "they" have an agenda....but not everything they try to implement works....e.g.  look at the current state of the EU and Euro experiment.. there is as much incompentence, lack of knowledge, and corruption on "their" side as anywhere else..

Its not incompetence.They are professionals.How do i know they are professionals ?Because majority like you is unable to see their real intentions and classify them as incompetend where in reality they follow a strict agenda which they are pushing hard.
If you would watch more closely you would see eastern europe is already in the procress creating their own union and another group being sold as the solution to the incompetent people.
History repeats and people still didn't learn anything from it.

" While other industries have grown increasingly concerned about trade tensions and a global economic slowdown, the financial technology sector is consolidating at a rapid rate with McKinsey predicting that global payments will reach $3tn a year in revenue by 2023."

That claim is not difficult to make knowing when the governmental coins will come out.The first one will be presented on the olympic games in Tokio in 2020.
Why do you think all big banks are splitting into investment banks and customer banks ?
Preparing for something ?

Anyway you are free to do what you want and in what you belive.

Wish you good luck

Thanks..I think if the BTS community pulls together anything is possible..
Bitshares can be a useful tool, whether in Eastern Europe or anywhere in the world..

The Big Banks (US) were initially separated into retail banking and investment banking since 1933 before President Clinton signed a repeal of the Glass-Steagall Act in 1999...Predictably their Greed ran wild and we had the financial meltdown in 2008..

Yes it is true, if you do not heed the lessons of history you are doomed to repeat it...

So let's be smart and not repeat it...Bitshares  {I also understand EOS is outpacing ETH in terms of platform adoption}  being part of the Graphene family is a major advantage...The BTS community (& marketing) just needs to show the world...Who knows maybe the "professionals" will get a surprise in Tokyo 2020  :-)

[bitstopia2049]

Please voice your wishes, suggestions or ideas for the marketing worker in a constructive way, I will happily listen.

Thanks for replying......I thought I was being "constructive" .. I guess it's a matter of perspective..

I think it would be prudent to send you my thoughts via PM first..I'm sure there are BTS competitors who do not want to see any Bitshares success...as well as those who flood threads with spam...

[Thul3]

https://bitcoinist.com/andrew-yang-2020-president-bitcoin/

BTS community may have a window of opportunity here...Bitshares could get a lot of good (free) publicity out of this
if bitUSD, (or bitSilver or Gold) was his top crypto donation...instead of btc, eth, xmr, ltc, xrp    or others

Don't put your faith in him.Crypto is a governmental product.Bitcoin is the forerunner for a cashless society.
You should listen more to IWF so you will know what will happen once the transformation has been finished.
IWF even found a way to put negative rates on paper money which won't be exchanged into "virtual money"

So what would you suggest?   We try nothing..give up and go home...

It is not a matter of trusting him...

cashless societies or not....the critical factor is "who is the issuer of the currency"

BTS is decentralized, trustless, no counterparty, energy efficient..and someday (hopefully) stealth transactions and assets..


try to be a bit more optimistic... or less negative

IWF?  do u mean IMF

Its not about being negative.
Its about being realistic.
They are implementing the cashless society to implement another agenda they have.For that they need control over a coin.
The final goal is a governmental issued coin linked to a specific asset to limit Q3.
Bitcoin,Bitshares etc would be never accepted as major currency.Its a preperrer of their own governmental coins.
Bitshares however has the great potential to co-exist to governmental coins which bitcoin hasn't.

And like i said its not about being negative maybe just more well informed which may look outside like being one sided and negative.

We try nothing..give up and go home...

Never said that.What i said is it would be a waste of resouces trying your proposal as they follow their own agenda which is the opposite of ours.

But since bitshares is really decentralised noone is stopping you for going your own way which you choose as the right one.

While BTS (marketing worker) is sleeping..or not "wasting resources"

https://www.investors.com/news/technology/fis-acquire-worldpay-payment-processing/

Fidelity National Acquires Worldpay As Mergers Rock Payment Processing

https://www.techradar.com/news/worldpay-acquired-in-dollar35bn-deal

" While other industries have grown increasingly concerned about trade tensions and a global economic slowdown, the financial technology sector is consolidating at a rapid rate with McKinsey predicting that global payments will reach $3tn a year in revenue by 2023."


Whales must be able to see that right now BTS could easily capture 1+% of this growing market.

OK..so "they" have an agenda....but not everything they try to implement works....e.g.  look at the current state of the EU and Euro experiment.. there is as much incompentence, lack of knowledge, and corruption on "their" side as anywhere else..

Its not incompetence.They are professionals.How do i know they are professionals ?Because majority like you is unable to see their real intentions and classify them as incompetend where in reality they follow a strict agenda which they are pushing hard.
If you would watch more closely you would see eastern europe is already in the procress creating their own union and another group being sold as the solution to the incompetent people.
History repeats and people still didn't learn anything from it.

" While other industries have grown increasingly concerned about trade tensions and a global economic slowdown, the financial technology sector is consolidating at a rapid rate with McKinsey predicting that global payments will reach $3tn a year in revenue by 2023."

That claim is not difficult to make knowing when the governmental coins will come out.The first one will be presented on the olympic games in Tokio in 2020.
Why do you think all big banks are splitting into investment banks and customer banks ?
Preparing for something ?

Anyway you are free to do what you want and in what you belive.

Wish you good luck

[sschiessl]

Please voice your wishes, suggestions or ideas for the marketing worker in a constructive way, I will happily listen.

[bitstopia2049]

https://bitcoinist.com/andrew-yang-2020-president-bitcoin/

BTS community may have a window of opportunity here...Bitshares could get a lot of good (free) publicity out of this
if bitUSD, (or bitSilver or Gold) was his top crypto donation...instead of btc, eth, xmr, ltc, xrp    or others

Don't put your faith in him.Crypto is a governmental product.Bitcoin is the forerunner for a cashless society.
You should listen more to IWF so you will know what will happen once the transformation has been finished.
IWF even found a way to put negative rates on paper money which won't be exchanged into "virtual money"

So what would you suggest?   We try nothing..give up and go home...

It is not a matter of trusting him...

cashless societies or not....the critical factor is "who is the issuer of the currency"

BTS is decentralized, trustless, no counterparty, energy efficient..and someday (hopefully) stealth transactions and assets..


try to be a bit more optimistic... or less negative

IWF?  do u mean IMF

Its not about being negative.
Its about being realistic.
They are implementing the cashless society to implement another agenda they have.For that they need control over a coin.
The final goal is a governmental issued coin linked to a specific asset to limit Q3.
Bitcoin,Bitshares etc would be never accepted as major currency.Its a preperrer of their own governmental coins.
Bitshares however has the great potential to co-exist to governmental coins which bitcoin hasn't.

And like i said its not about being negative maybe just more well informed which may look outside like being one sided and negative.

We try nothing..give up and go home...

Never said that.What i said is it would be a waste of resouces trying your proposal as they follow their own agenda which is the opposite of ours.

But since bitshares is really decentralised noone is stopping you for going your own way which you choose as the right one.

While BTS (marketing worker) is sleeping..or not "wasting resources"

https://www.investors.com/news/technology/fis-acquire-worldpay-payment-processing/

Fidelity National Acquires Worldpay As Mergers Rock Payment Processing

https://www.techradar.com/news/worldpay-acquired-in-dollar35bn-deal

" While other industries have grown increasingly concerned about trade tensions and a global economic slowdown, the financial technology sector is consolidating at a rapid rate with McKinsey predicting that global payments will reach $3tn a year in revenue by 2023."


Whales must be able to see that right now BTS could easily capture 1+% of this growing market.

[bitstopia2049]

https://bitcoinist.com/andrew-yang-2020-president-bitcoin/

BTS community may have a window of opportunity here...Bitshares could get a lot of good (free) publicity out of this
if bitUSD, (or bitSilver or Gold) was his top crypto donation...instead of btc, eth, xmr, ltc, xrp    or others

Don't put your faith in him.Crypto is a governmental product.Bitcoin is the forerunner for a cashless society.
You should listen more to IWF so you will know what will happen once the transformation has been finished.
IWF even found a way to put negative rates on paper money which won't be exchanged into "virtual money"

So what would you suggest?   We try nothing..give up and go home...

It is not a matter of trusting him...

cashless societies or not....the critical factor is "who is the issuer of the currency"

BTS is decentralized, trustless, no counterparty, energy efficient..and someday (hopefully) stealth transactions and assets..


try to be a bit more optimistic... or less negative

IWF?  do u mean IMF

Its not about being negative.
Its about being realistic.
They are implementing the cashless society to implement another agenda they have.For that they need control over a coin.
The final goal is a governmental issued coin linked to a specific asset to limit Q3.
Bitcoin,Bitshares etc would be never accepted as major currency.Its a preperrer of their own governmental coins.
Bitshares however has the great potential to co-exist to governmental coins which bitcoin hasn't.

And like i said its not about being negative maybe just more well informed which may look outside like being one sided and negative.

We try nothing..give up and go home...

Never said that.What i said is it would be a waste of resouces trying your proposal as they follow their own agenda which is the opposite of ours.

But since bitshares is really decentralised noone is stopping you for going your own way which you choose as the right one.

I don't have much time now...but let me say this..

OK..so "they" have an agenda....but not everything they try to implement works....e.g.  look at the current state of the EU and Euro experiment.. there is as much incompentence, lack of knowledge, and corruption on "their" side as anywhere else..

Governments are not infallible...As history has shown every empire eventually implodes.not always for the same reasons..

My only suggestion here is that the BTS community collectively has to do something to raise the profile of BTS...

It has many advantages, in technology, finance, economics and energy consumption...there is no harm in trying to wake up a relatively small but influential part of the population to this fact..and at the same time be aware of the issues and dangers you speak of...

The irony is that BTS and its future iterations maybe the solution....

[Thul3]

https://bitcoinist.com/andrew-yang-2020-president-bitcoin/

BTS community may have a window of opportunity here...Bitshares could get a lot of good (free) publicity out of this
if bitUSD, (or bitSilver or Gold) was his top crypto donation...instead of btc, eth, xmr, ltc, xrp    or others

Don't put your faith in him.Crypto is a governmental product.Bitcoin is the forerunner for a cashless society.
You should listen more to IWF so you will know what will happen once the transformation has been finished.
IWF even found a way to put negative rates on paper money which won't be exchanged into "virtual money"

So what would you suggest?   We try nothing..give up and go home...

It is not a matter of trusting him...

cashless societies or not....the critical factor is "who is the issuer of the currency"

BTS is decentralized, trustless, no counterparty, energy efficient..and someday (hopefully) stealth transactions and assets..


try to be a bit more optimistic... or less negative

IWF?  do u mean IMF

Its not about being negative.
Its about being realistic.
They are implementing the cashless society to implement another agenda they have.For that they need control over a coin.
The final goal is a governmental issued coin linked to a specific asset to limit Q3.
Bitcoin,Bitshares etc would be never accepted as major currency.Its a preperrer of their own governmental coins.
Bitshares however has the great potential to co-exist to governmental coins which bitcoin hasn't.

And like i said its not about being negative maybe just more well informed which may look outside like being one sided and negative.

We try nothing..give up and go home...

Never said that.What i said is it would be a waste of resouces trying your proposal as they follow their own agenda which is the opposite of ours.

But since bitshares is really decentralised noone is stopping you for going your own way which you choose as the right one.

[bitstopia2049]

https://bitcoinist.com/andrew-yang-2020-president-bitcoin/

BTS community may have a window of opportunity here...Bitshares could get a lot of good (free) publicity out of this
if bitUSD, (or bitSilver or Gold) was his top crypto donation...instead of btc, eth, xmr, ltc, xrp    or others

Don't put your faith in him.Crypto is a governmental product.Bitcoin is the forerunner for a cashless society.
You should listen more to IWF so you will know what will happen once the transformation has been finished.
IWF even found a way to put negative rates on paper money which won't be exchanged into "virtual money"

So what would you suggest?   We try nothing..give up and go home...

It is not a matter of trusting him...

cashless societies or not....the critical factor is "who is the issuer of the currency"

BTS is decentralized, trustless, no counterparty, energy efficient..and someday (hopefully) stealth transactions and assets..


try to be a bit more optimistic... or less negative

IWF?  do u mean IMF

[Thul3]

https://bitcoinist.com/andrew-yang-2020-president-bitcoin/

BTS community may have a window of opportunity here...Bitshares could get a lot of good (free) publicity out of this
if bitUSD, (or bitSilver or Gold) was his top crypto donation...instead of btc, eth, xmr, ltc, xrp    or others

Don't put your faith in him.Crypto is a governmental product.Bitcoin is the forerunner for a cashless society.
You should listen more to IWF so you will know what will happen once the transformation has been finished.
IWF even found a way to put negative rates on paper money which won't be exchanged into "virtual money"

[bitstopia2049]

is there anything being done to help restore it ?

https://bitcoinist.com/andrew-yang-2020-president-bitcoin/

BTS community may have a window of opportunity here...Bitshares could get a lot of good (free) publicity out of this
if bitUSD, (or bitSilver or Gold) was his top crypto donation...instead of btc, eth, xmr, ltc, xrp    or others

Maybe a marketing worker or the foundation could be tasked to show his campaign  how a smart contract and/or multi-sig wallet could ensure his campaign does not run afoul of the law -- i.e. receive contributions from US citizens only..

any BTS dev (Notestein?)could show that DPOS is by far the most eco-friendly crypto compared to the energy consumption of PoW consensus..
Climate change is going to be a major campaign issue obviously..

It could also inspire adoption of BTS and give a competitive advantage to dozens and dozens of vendors/contractors who want to supply tens of millions$ goods and services to the campaign
as it grows...think how much the vendors could save just on credit card fees alone..

Does Taggart or Stan read this board?  It is rare to have presidential candidate that understands crypto..

Anybody got any other BTS moon shot ideas?

[bitstopia2049]

is there anything being done to help restore it ?

https://youtu.be/IXOoZ8Zd2eA?t=1105

This discussion about cashless societies is describing a very negative future if allowed to grow without alternatives..

The quickly approaching dangers of centralization of payment systems....

Why isn't a Bitshares marketing worker or the Foundation or Cryptonomex promoting the hell out of  BTS as the antidote ?!

BTS marketcap should be at least $5-6 billion even in its current state!   

Where's a smart whale when you need one.... geez!

[bitstopia2049]

By bidding for the settlement fund we are essentially bidding for a position at a specific bitusd/bts price?

      YES, ( and the more collateral you bid the better your position)

-If enough bids happen and this revives, we essentially skip the step of having to sell bitusd for bts in the open market after borrowing bitusd into existence?    YES, essentially

-If the above is correct and we had enough BTS backing, we could essentially open a position at $0.01 with 1k debt and 100k collateral?    YES,

but you would not want to tie up that much collateral for a relatively small amount of debt.....

a revival will only happen when the MCR is greater than 1.75....

 either because the feed price has increased sufficiently - e.g auto revival

 or because the total amount of collateral bids is greater than 1.75 x #bitshares in the settlement fund..

or some combination of both..

[Brekyrself]

Still trying to wrap my head around bsip18 after reading: https://steemit.com/bitshares/@haruka/detailed-mechanism-of-global-settlement-black-swan-and-reviving-of-bitassets

Please correct me if I am wrong about the following:

-By bidding for the settlement fund we are essentially bidding for a position at a specific bitusd/bts price?

-If enough bids happen and this revives, we essentially skip the step of having to sell bitusd for bts in the open market after borrowing bitusd into existence?

-If the above is correct and we had enough BTS backing, we could essentially open a position at $0.01 with 1k debt and 100k collateral?

End of the day I want to borrow bitusd and buy more bts with it by using existing bts as collateral.  Since that is not available at the moment, is the above method correct to get a position when this revives?

[bitstopia2049]

Is Bitspark in Mexico?

         www.npr.org/sections/health-shots/2019/02/11/691467587/americans-seek-cheaper-meds-in-mexico

[bitstopia2049]

The way you have worded your question kinda leaves it open to several interpretations,.I think if you ask your question more precisely it might be easier to answer...

Having said that, my view is simple..bidding on the settlement fund debt is basically betting on the future of BTS ( and indirectly I guess on the success of BEOS and EOS)   

 So the only question is how much do you want to bet..

i.e how much debt do you want to acquire and how much additional collateral do you want to add to your margin account to secure it..

If I understand your question correctly...the only way to "arb"...(i'm guessing you mean arbitrage) this is to buy bitUSD in the open market in exchange for whatever other assets you have which would "protect" you in case of a BTS price decrease.  e.g for every X amount of BTS collateral you can acquire Y bitUSD. {Also you could buy any other bitAsset as well I suppose}

HOWEVER...this kind of arbitrage strategy would only be worthwhile if bitUSD is revived and normal operations (i.e borrowing) are resumed..

I believe that some combination of BTS, BTC, ETH, etc...price increase within an overall bullish cryptocurrency market environment that coincides with a sufficient number of successful bids during the auction of the settlement funds,(enough to surpass the 175% MCR). will trigger the revival of bitUSD.

Maybe someone can correct me..but I think the size of the settlement fund is about   $5.7m ?   so a few whales could help jump start the process without putting too much their assets at risk...maybe .01%

I hear Jeff Bezos' ex-wife has some surplus assets..maybe BM can persuade her to invest in BTS instead of another Sotheby's Auction..Ha!

[renkcub]

Can someone explain the best way to "arb" this in terms of USD? I can just buy BTS, and sell on the BTS/USD market (for a higher price, in exchange for risk of holding BitUSD)?

[bitstopia2049]

Thanks for the response and the link to instructional video..Things are much clearer now..

I think I'm going to use a chunk of my income tax refund to invest in BTS,      The technology has got to be worth more than
a nickel and has more utility than "cryptoKitties"

This bear market.. just as much as a US government "partial" shutdown has to end sooner or later..

Given the outrageous prices of prescription medications in the USA...I've wondered why hasn't some entrepreneur developed
a dApp that would allow users to use bitUSD or other bitasset bitPeso etc. to pay to their regular online discount pharmacy..not only would they save money on drug prices but also transaction costs, FX fees, etc..and the pharmacies would save on costs as well..

I think this is the kind of "Use Case" that could raise BTS market profile to the level of prominence that BTC and ETH enjoy even though it's obvious they're use for consumer payments is limited by transaction speed..

[iamredbar]

Have a look here, available since last release
https://wallet.bitshares.org/#/asset/USD

There is a new section in asset details that shows collateral bids, including doing a bid.

https://cdn.steemitimages.com/DQmU42kFBJu55co7ZfSpczrUA9Trcbf3oFWFooLR2tCguXM/collateral%20bid%20bitshares.gif

[sschiessl]

Have a look here, available since last release
https://wallet.bitshares.org/#/asset/USD

There is a new section in asset details that shows collateral bids, including doing a bid.

[iamredbar]

I will make you a video of how to do it in the GUI.

[bitstopia2049]

How can people participate in the revival if there isn't any way to access the bid mechanism thru the reference wallet GUI ?

https://www.reddit.com/r/BitShares/comments/a0i56y/detailed_explanation_of_bitshares_global/

"This operation is not present in GUI wallet right now, but can be done by using bid_collateral command in CLI wallet or constructing the operation manually."

There's no step by step instructions in the Tech Support section of the forum either..

i.e how to access,
...the command lines that one would use

Isn't this at least something the BitShares Foundation would do in the "Public interest"  or to at least spark more interest in BTS by regular traders, speculators or just average Jjoes willing to a gamble.??

or is this bitAsset revival limited to "BTS insiders"... How could a benevolent whale participate (if such a person exists!) even if he or she wanted to?

BitShares needs a marketing guru or a miracle worker..it seems..

[iamredbar]

I'm not asking how it can be revived.
I'm asking what is being done to get it revived.

All of these accounts are bidding on the debt. That is actively trying for a solution. If you would like to contribute to the efforts, please put a bid on the debt.

[bitsharesbagholder]

Inside of that Steemit link tells you how it can be revived. That is why xeroc posted it. There is also talk around here on different ways we can revive it quicker.

I'm not asking how it can be revived.
I'm asking what is being done to get it revived.

[iamredbar]

Inside of that Steemit link tells you how it can be revived. That is why xeroc posted it. There is also talk around here on different ways we can revive it quicker.

[bitsharesbagholder]

stop posting steem links as answers

[xeroc]

Read this:
https://steemit.com/bitshares/@bitshares.fdn/how-global-settlements-work

There is a bidding scheme in place (BSIP18) that allows to revive bitUSD faster

[bitsharesbagholder]

is there anything being done to help restore it ?