Author Topic: Please ,use bitcny or bitusd to pay the workers  (Read 676 times)

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Offline zhouxiaobao

Please ,use bitcny or bitusd to pay the workers
« on: August 06, 2019, 05:47:41 pm »
           Worker's salary is really scary. Nearly 200000 a day, two months is more than 10 million. Now the large CEX' s Bts trading volume is only millions, the DEX is only millions too, excuse me, an average of two months hit 10 million down,how BTS can rise up?
           However, The call for reduction in spending did not respond at all.
             Let's make a discount. Can you use Bitcny or Bitusd ,which be created by BTS of the pool , to pay for them? Whichever asset premium is used. It can not only increase the supply of mortgage assets, but also reduce the suppression of the market and the premium on Bitusd or Bitcny.Can the council stand up and push it?
« Last Edit: August 06, 2019, 06:06:48 pm by zhouxiaobao »

Offline Sapiens

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Re: Please ,use bitcny or bitusd to pay the workers
« Reply #1 on: August 06, 2019, 10:21:10 pm »
I totally support this.

The topic of which asset use to pay workers has implications al around the ecosystem, including global settlement. I wrote a pretty deep analysis about it.

Quote
A second, harmful, negative-feedback loop on BTS price comes via Bitshares’ workers. Worker is the name given by the community to the projects, financed by the blockchain itself, that contribute to the improvement of the ecosystem. Paradoxically, the more workers are financed, the more BTS is sold, on a daily basis, by those very workers in order to obtain BTC or fiat to pay for their bills. So, the workers’ need to sell big chunks of BTS daily is driving the price down in the immediate term, and this is mostly independent of market conditions. In a bull market this effect is somehow lessened by the stimulus of the people behind the workers to keep some BTS and profit from the rise in price. However that’s not always possible due their own immediate financial obligations. Under bearish conditions, on the other hand, the effect from this constant ‘dump’ of BTS into the market may be dramatic. For the purpose of this writing, I will call this second feedback “Worker Feedback Loop (WFL)”.     

To see the whole analysis you can go here

https://steemit.com/bitshares/@aguerrido/feedback-loops-and-analysis-of-bitshares-architecture-in-relation-to-smart-assets-sustainability

Offline bench

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Re: Please ,use bitcny or bitusd to pay the workers
« Reply #2 on: August 07, 2019, 02:00:45 am »
1. Createing bitAssets with a margin position takes some risk
2. You can decrease the reserve pool spending by voting for the refund workers
3. We should introduce a margin call fee (0.1-0.2%) to increase income
4. We should also increase the costs for make/take an order to increase income

« Last Edit: August 07, 2019, 10:32:57 am by bench »

Offline zhouxiaobao

Re: Please ,use bitcny or bitusd to pay the workers
« Reply #3 on: August 08, 2019, 12:33:07 am »
1. Createing bitAssets with a margin position takes some risk
2. You can decrease the reserve pool spending by voting for the refund workers
3. We should introduce a margin call fee (0.1-0.2%) to increase income
4. We should also increase the costs for make/take an order to increase income

Absolutely right

Offline xeroc

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Re: Please ,use bitcny or bitusd to pay the workers
« Reply #4 on: August 08, 2019, 07:59:25 am »
1. Createing bitAssets with a margin position takes some risk
2. You can decrease the reserve pool spending by voting for the refund workers
3. We should introduce a margin call fee (0.1-0.2%) to increase income
4. We should also increase the costs for make/take an order to increase income
5. The committee could raise the network cut from fees from 20% to ... erm .. 80%
Give BitShares a try! Use the http://testnet.bitshares.eu provided by http://bitshares.eu powered by ChainSquad GmbH

Offline finn-bts

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Re: Please ,use bitcny or bitusd to pay the workers
« Reply #5 on: August 08, 2019, 02:15:33 pm »
support

Offline bench

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Re: Please ,use bitcny or bitusd to pay the workers
« Reply #6 on: August 08, 2019, 03:03:03 pm »
1. Createing bitAssets with a margin position takes some risk
2. You can decrease the reserve pool spending by voting for the refund workers
3. We should introduce a margin call fee (0.1-0.2%) to increase income
4. We should also increase the costs for make/take an order to increase income
5. The committee could raise the network cut from fees from 20% to ... erm .. 80%

4. make/take/cancel fee can be increased to 0.2/0.6/0.02 ¢
   + update margin / collateral bid also to 0.2 ¢

6. We can give the non-LTM a 20% referral link, to get more referrals. This is a small disadvantage for LTM, but it is now possible to earn extra from the other 60% by non-LTM referrals.
https://github.com/bitshares/bsips/issues/186

7. Lower MCR to 1.5
https://bitsharestalk.org/index.php?topic=28670.0


support
What?
« Last Edit: August 09, 2019, 09:26:55 am by bench »

Offline tbone

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Re: Please ,use bitcny or bitusd to pay the workers
« Reply #7 on: August 08, 2019, 10:40:11 pm »
1. Createing bitAssets with a margin position takes some risk
2. You can decrease the reserve pool spending by voting for the refund workers
3. We should introduce a margin call fee (0.1-0.2%) to increase income
4. We should also increase the costs for make/take an order to increase income
5. The committee could raise the network cut from fees from 20% to ... erm .. 80%

I've always liked the idea of raising the network's share of fees. However, 80% might be too much. How about 40% or maybe 50%?

Offline zhouxiaobao

Re: Please ,use bitcny or bitusd to pay the workers
« Reply #8 on: August 09, 2019, 12:40:21 am »
The important thing is to reduce expenditure and strengthen the supervision of expenditure items, so as not to breed corruption.

Offline bench

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Re: Please ,use bitcny or bitusd to pay the workers
« Reply #9 on: August 09, 2019, 09:19:07 am »
1. Createing bitAssets with a margin position takes some risk
2. You can decrease the reserve pool spending by voting for the refund workers
3. We should introduce a margin call fee (0.1-0.2%) to increase income
4. We should also increase the costs for make/take an order to increase income
5. The committee could raise the network cut from fees from 20% to ... erm .. 80%

I've always liked the idea of raising the network's share of fees. However, 80% might be too much. How about 40% or maybe 50%?

5. Increasing the network cut from 20% sabotages the referral system and the LTM.
Increasing the fees for take/make/cancel order improves the referral system and the network income.

When someone thinks the network needs a higher cut, he already can do this with the BTS burn function. Lets burn some BTS!

Option 5. should be the last option, when the reserve pool runs out of funds.
Option 3. 4. 6. and 7. should be considered first.

4. make/take/cancel fee can be increased to 0.2/0.6/0.02 ¢
   + update margin / collateral bid also to 0.2 ¢

6. We can give the non-LTM a 20% referral link, to get more referrals. This is a small disadvantage for LTM, but it is now possible to earn extra from the other 60% by non-LTM referrals.
https://github.com/bitshares/bsips/issues/186

7. Lower MCR to 1.5
https://bitsharestalk.org/index.php?topic=28670.0
« Last Edit: August 09, 2019, 09:51:47 am by bench »

Offline Sapiens

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Re: Please ,use bitcny or bitusd to pay the workers
« Reply #10 on: August 09, 2019, 08:48:59 pm »
1. Createing bitAssets with a margin position takes some risk
2. You can decrease the reserve pool spending by voting for the refund workers
3. We should introduce a margin call fee (0.1-0.2%) to increase income
4. We should also increase the costs for make/take an order to increase income

We need to pay the workers in SmartAssets, not necessarily created on margin calls by the reserve pool. Instead, it could be assets strategically bought on the market. Paying workers in bts is a shoot in the foot of the system to itself. And that is because those workers  dump their just earned bts on the market, either for BTC or a fiat/stable coin just to pay for their bills. This dump lowers BTS price and accelerates de depletion of the reserve pool with each new worker.

Offline bench

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Re: Please ,use bitcny or bitusd to pay the workers
« Reply #11 on: August 10, 2019, 07:51:35 pm »
1. Createing bitAssets with a margin position takes some risk
2. You can decrease the reserve pool spending by voting for the refund workers
3. We should introduce a margin call fee (0.1-0.2%) to increase income
4. We should also increase the costs for make/take an order to increase income

We need to pay the workers in SmartAssets, not necessarily created on margin calls by the reserve pool. Instead, it could be assets strategically bought on the market. Paying workers in bts is a shoot in the foot of the system to itself. And that is because those workers  dump their just earned bts on the market, either for BTC or a fiat/stable coin just to pay for their bills. This dump lowers BTS price and accelerates de depletion of the reserve pool with each new worker.

Worker are already paid in bitAssets by shorting BTS on the DEX.

Offline Sapiens

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Re: Please ,use bitcny or bitusd to pay the workers
« Reply #12 on: August 11, 2019, 01:38:00 am »

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Worker are already paid in bitAssets by shorting BTS on the DEX.

Exactly, that shorting we must prevent.

Offline bench

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Re: Please ,use bitcny or bitusd to pay the workers
« Reply #13 on: August 11, 2019, 10:53:59 am »

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Worker are already paid in bitAssets by shorting BTS on the DEX.

Exactly, that shorting we must prevent.
How should the bitAsset created to finance the worker?

Offline Sapiens

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Re: Please ,use bitcny or bitusd to pay the workers
« Reply #14 on: August 12, 2019, 12:30:04 am »
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I propose that a fund is created to take over weakly collateralized margin positions. and whenever this fund's CR tops a given value, let’s say 3, the excess of collateral is used to buy some smart-assets in the market, assets like BitUSD, BitBTC, etc. These new bought assets can then be put in a second fund, whose mission should be to pay for workers, not in BTS as today happens, but directly in stable coins. This last step should alleviate the effect from the other feedback loop: the WFL.


WFL: Worker Feedback Loop, is the dumping of BTS in the market by the same very workers that are improving the system.

I took from my analysis, here:

https://steemit.com/bitshares/@aguerrido/feedback-loops-and-analysis-of-bitshares-architecture-in-relation-to-smart-assets-sustainability