Author Topic: [poll] BTS repurchase destruction proposal  (Read 4792 times)

0 Members and 1 Guest are viewing this topic.

Offline bitProfessor

[poll] BTS repurchase destruction proposal
« on: June 14, 2019, 08:25:42 am »
Work id : 1.14.200
https://github.com/bitProfessor/cn-vote/blob/cn/_workers/2019-06-cny%E4%BA%A4%E6%98%93%E8%B4%B9%E7%94%A8%E5%9B%9E%E8%B4%ADbts%E6%8F%90%E6%A1%88.md
Motivation
Recently, discussions on how to promote BTS repurchase have been heated. Centralized exchanges such as binance have implemented the measures of repurchase and destruction of Platform Currency (BNB), and achieved good results.In this topic, we want to achieve the goal of BTS repurchase and destruction.

We believe that the BTS price depends on two points:

One of the key points is to increase the application scenario of BTS in the wider population or to enter the BTS ecosystem with large funds. That is to expand demand.
Reduce the supply of BTS, such as repurchase and destruction.
Ideally, we continue to repurchase and destroy BTS through the transaction fee of bitCNY. Unfortunately, the funds in the pool are limited, but we can have the following benefits by continuously repurchasing and destroying the BTS:

Although there are few bitCNY in the fund pool, marketing is of great significance. Will give great confidence to those who hold BTS.

Over time, more and more BTS can be destroyed

Worker Intent
The BTS is regularly and quantitatively purchased by the bitcny of the fee pool, and the BTS that is repurchased is destroyed and no longer flows to the market. After extensively seeking opinions, the repurchase strategy is defined as:

1, regular quantitative repurchase: weekly repurchase, each repurchase 100,000 cny, once a week.

2, the fee bitcny accumulated to more than 100,000 cny, it initiated a repurchase, until the bitcny in the pool of funds less than 100,000 to stop the repurchase, so cycle.

3, repurchase price: As long as the repurchase conditions are met, the market price* (1-5%) will be placed immediately.

4, repurchase conditions: (1) accumulated bitCNY> = 100,000 (2) the time is up to the stipulated time.

5, launch a variety of publicity channels, widely advertised: bts launched a repurchase program. In order to get a better marketing effect.

6, repurchase BTS and destroy it immediately.

All repurchase records are open and transparent and subject to the supervision of community members.
Legalities
This proposal has no legal implications.

Marketing Aspect
Members of the community, opinion leaders, fans, all kinds of media resources can be mobilized

Budget Requirements
This proposal does not require a budget.

BTS Repurchase Destruction Proposal   0 bitCNY
Weekly repurchase fee   10,0000 bitCNY
Marketing fee   0 bitCNY
Total   10,0000 bitCNY
Summary
The BitShares community has long been eager for the price of BTS to rise, and the supply of bitCNY can exceed 1 billion cny. We have learned a lot from the open market operation and the Spring Fund. The direction is right, but when the power is still weak, it can't be radical. We should slowly carry out repurchase and destruction.

In a bear market where the market is sluggish, members of the community can also have a hot discussion and propose a repurchase destruction proposal. A single spark can start a prairie fire. Therefore, we urge BTS voters to consider and support this work proposal.

中文版

动机
近来,关于如何推动BTS回购的话题讨论热烈。币安等中心化交易所已经实施了平台币(BNB)回购及销毁的举措,获得不错的效果。在这个主题中,我们想要实现BTS回购以及销毁的目标。

我们认为,BTS价格取决于两点:

1、关键点之一在于在更广大的人群中增加 BTS 的应用场景或有大资金进入BTS的生态圈。也就是扩大需求。
2、就是减少BTS的供给,比如进行回购和销毁。
理想的情况是,我们通过bitCNY的交易费来不断进行回购销毁,遗憾的是资金池里的资金有限,但是通过不断回购并销毁BTS我们可以有以下的收获:

资金池里bitCNY虽然少,但是营销意义大。会给持有BTS的人以巨大信心。
日积月累可以使销毁的BTS越来越多。
工作提案意图
利用手续费资金池的bitcny定期定量来回购BTS,所回购的BTS进行销毁,不再流向市场。 经广泛争取意见,回购策略定为:

1、 定期定量回购:每周进行回购,每次回购10万cny,每周一次.
2、 手续费bitcny积累到10万以上cny,就发起回购,直到资金池里的bitcny少于10万停止回购,如此循环。
3、 回购价格:只要达到回购条件,马上以 市价 * (1-5%) 单委下单.
4、 回购条件:(1) 资金池里累积的bitCNY>=10万 (2) 时间到了规定时间。
5、 发动各种宣传渠道,广而告之:bts启动回购计划。以获的比较好的营销效果。
6、 回购BTS立刻销毁。
7、 所有回购记录公开透明,接受社区成员的监督。
法律问题
此项提案不涉及法律问题

营销部分
社区的各个成员、意见领袖、粉丝众多的大v、各种媒体资源都可以发动起来。

预算要求
此次提案不需要预算。

BTS回购销毁提案   0 bitCNY
每周回购费用   10,0000 bitCNY
营销费用   0 bitCNY
总计   10,0000 bitCNY
项目合作伙伴
概要
BitShares 社区一直以来渴望BTS的价格上升,bitCNY的供应量能够突破10亿元。而我们从公开市场操作、源水基金的失利学到很多,方向是对的,但力量还很弱小的时候不能激进,应该细水长流的进行回购销毁。

在市场萎靡不振的熊市,社区的成员还能进行火热的讨论,并提出回购销毁提案。星星之火可以燎原。 因此,我们敦促 BTS 的选民考虑并支持这份工作提案。
« Last Edit: June 14, 2019, 11:15:13 am by bitProfessor »

Offline btstodamoon

  • Full Member
  • ***
  • Posts: 52
    • View Profile
Re: [poll] BTS repurchase destruction proposal
« Reply #1 on: June 14, 2019, 08:49:05 am »
支持


Offline Digital Lucifer

  • Global Moderator
  • Sr. Member
  • *****
  • Posts: 323
  • 13 years of being Slackware abUser
    • View Profile
    • BitShares 3.0
  • BitShares: dls.cipher
  • GitHub: dls-cipher
Milos (DL) Preocanin
Owner and manager of bitshares.org through Consensus
Move Institute - RN: 2098555000
Murska Sobota, Slovenia, SI.

Online bitcrab

  • Committee member
  • Hero Member
  • *
  • Posts: 1648
    • View Profile
  • BitShares: bitcrab
  • GitHub: bitcrab
Re: [poll] BTS repurchase destruction proposal
« Reply #4 on: June 14, 2019, 09:05:51 am »
I do not support this proposal.

comparing to the daily BTS release via worker proposal budget, the market fee accumulation is so few that can be ignored and will not generate obvious effect.

I prefer to set smartcoins 100% market fee sharing, I believe this will greatly encourage users to become lifetime member and invite more users to come to BTS ecosystem.

this is a much better way to use the smartcoin market fee than "buy back BTS and burn".



Offline Thul3

  • Sr. Member
  • ****
  • Posts: 359
    • View Profile
Re: [poll] BTS repurchase destruction proposal
« Reply #6 on: June 14, 2019, 11:44:17 am »
I do not support this proposal.

comparing to the daily BTS release via worker proposal budget, the market fee accumulation is so few that can be ignored and will not generate obvious effect.

I prefer to set smartcoins 100% market fee sharing, I believe this will greatly encourage users to become lifetime member and invite more users to come to BTS ecosystem.

this is a much better way to use the smartcoin market fee than "buy back BTS and burn".

Agree on that

Offline btstodamoon

  • Full Member
  • ***
  • Posts: 52
    • View Profile
Re: [poll] BTS repurchase destruction proposal
« Reply #7 on: June 14, 2019, 11:57:21 am »
我建议巨蟹先生再创建一个预算,用于抵押智慧货币购买BTS,这样效果明显,手续费什么的,您是看不上的,哦,对了,那为什么以前要收呢?

Offline sschiessl

Re: [poll] BTS repurchase destruction proposal
« Reply #8 on: June 14, 2019, 12:03:18 pm »
I do not support this proposal.

comparing to the daily BTS release via worker proposal budget, the market fee accumulation is so few that can be ignored and will not generate obvious effect.

I prefer to set smartcoins 100% market fee sharing, I believe this will greatly encourage users to become lifetime member and invite more users to come to BTS ecosystem.

this is a much better way to use the smartcoin market fee than "buy back BTS and burn".

Now that's something!

Online binggo

  • Hero Member
  • *****
  • Posts: 1548
    • View Profile
Re: [poll] BTS repurchase destruction proposal
« Reply #9 on: June 14, 2019, 12:23:38 pm »
Destruction

Offline bench

Re: [poll] BTS repurchase destruction proposal
« Reply #10 on: June 14, 2019, 01:38:08 pm »
I already had a similar idea here: https://bitsharestalk.org/index.php?topic=28437.0

My second idea was, to use the market fees for a GS protection to lower the MCR, which should have a positive feedback:
Lower MCR -> more smart coins -> more volume -> more fees -> lower MCR

I do not support this proposal.

comparing to the daily BTS release via worker proposal budget, the market fee accumulation is so few that can be ignored and will not generate obvious effect.

I prefer to set smartcoins 100% market fee sharing, I believe this will greatly encourage users to become lifetime member and invite more users to come to BTS ecosystem.

this is a much better way to use the smartcoin market fee than "buy back BTS and burn".
I support this, but I think a 80% cashback on trading fees is already good enough. But to have an effect, we need to raise fees to 0.1% again!

But this is also not new: https://bitsharestalk.org/index.php?topic=27199.msg322781#msg322781
« Last Edit: June 14, 2019, 03:22:29 pm by bench »
Be part of the change and vote for the bitshares-vision proxy!

Online binggo

  • Hero Member
  • *****
  • Posts: 1548
    • View Profile
Re: [poll] BTS repurchase destruction proposal
« Reply #11 on: June 14, 2019, 02:11:48 pm »
????!!!! how about 10%?
we need to raise fees to 0.1% again!

Offline Digital Lucifer

  • Global Moderator
  • Sr. Member
  • *****
  • Posts: 323
  • 13 years of being Slackware abUser
    • View Profile
    • BitShares 3.0
  • BitShares: dls.cipher
  • GitHub: dls-cipher
Re: [poll] BTS repurchase destruction proposal
« Reply #12 on: June 14, 2019, 03:01:56 pm »
????!!!! how about 10%?
we need to raise fees to 0.1% again!

I agree. Think simple and small with just basic math.

Most of our regular users are attending DEXBot and beside CNY and few gateways around, its all how we are doing our market making.

Now set example, all those little guys (including myself) with $1000 or $2000 at tops for trading, setting $40-$100 orders would be ending up broken by the end of the day with 0.1% fee if market is not volatile for 3-5% in our favor.

100 USD 1 order
0.1% fee = 0.10 USD

10 orders = 1 USD.
100 orders = 10 USD.

profit per order on smaller spreads 0.003% if lucky.

I don't see math there unless we have REALLY LIQUIDATED markets so people can move for profits through it.

But I do agree that such move would be great incentive for reserve pool income and bigger players around.
Milos (DL) Preocanin
Owner and manager of bitshares.org through Consensus
Move Institute - RN: 2098555000
Murska Sobota, Slovenia, SI.

Offline bench

Re: [poll] BTS repurchase destruction proposal
« Reply #13 on: June 14, 2019, 03:28:00 pm »
????!!!! how about 10%?
we need to raise fees to 0.1% again!
Because 0.2% is standard and we don't wont to rip of people here.

0.1% fee with 80% cashback looks like the best deal for everybody.
This gives power users 50% discount to now + 80% for every referral. 

0.02% of the fees could be used for GS protection, to lower MCR!
Be part of the change and vote for the bitshares-vision proxy!

Offline bitProfessor

Re: [poll] BTS repurchase destruction proposal
« Reply #14 on: June 14, 2019, 03:32:23 pm »
I do not support this proposal.

comparing to the daily BTS release via worker proposal budget, the market fee accumulation is so few that can be ignored and will not generate obvious effect.

I prefer to set smartcoins 100% market fee sharing, I believe this will greatly encourage users to become lifetime member and invite more users to come to BTS ecosystem.

this is a much better way to use the smartcoin market fee than "buy back BTS and burn".

Agree on that
Sounds like a good suggestion. It can be done at the same time. The two plans do not conflict.