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Offline pc

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Re: bitusd peg
« Reply #30 on: March 23, 2019, 08:06:32 am »
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!
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Offline bitstopia2049

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Re: bitusd peg
« Reply #31 on: March 24, 2019, 04:44:30 am »
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!


Offline bitstopia2049

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Re: bitusd peg
« Reply #32 on: March 25, 2019, 04:34:10 pm »
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..

Offline bitstopia2049

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Re: bitusd peg
« Reply #33 on: March 26, 2019, 02:34:24 am »
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/

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Re: bitusd peg
« Reply #34 on: March 26, 2019, 11:18:00 am »
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.
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Offline iamredbar

Re: bitusd peg
« Reply #35 on: March 26, 2019, 11:28:01 am »
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...
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Offline sschiessl

Re: bitusd peg
« Reply #36 on: March 26, 2019, 12:02:23 pm »
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

Offline Brekyrself

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Re: bitusd peg
« Reply #37 on: March 28, 2019, 02:44:38 am »
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

Offline bitstopia2049

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Re: bitusd peg
« Reply #38 on: March 28, 2019, 12:48:12 pm »
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..

Offline bitstopia2049

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Re: bitusd peg
« Reply #39 on: March 28, 2019, 01:00:03 pm »
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)

Offline bitstopia2049

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Re: bitusd peg
« Reply #40 on: March 28, 2019, 01:12:22 pm »
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



Offline clockwork

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Re: bitusd peg
« Reply #41 on: March 28, 2019, 01:19:40 pm »
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).


Offline clockwork

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Re: bitusd peg
« Reply #42 on: March 28, 2019, 01:21:00 pm »
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

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Re: bitusd peg
« Reply #43 on: March 28, 2019, 01:49:46 pm »
Quote
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.

Offline bitstopia2049

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Re: bitusd peg
« Reply #44 on: March 28, 2019, 03:33:58 pm »
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?