RE: [Guest Signups] Beyond Bitcoin Hangout #197 - 3/3/17 - (RSVP to Guest Speak about YOUR Blockchain project! Last Week’s Payouts + Signups for Next Week's Hangout!)
Is this for the Bitshares hangout too? If so, I would like to propose a topic. I will likely not be able to attend, but please read my proposal, and then separately discuss the three last points.
Casual users of the DEX bump into lots of inactive markets with wide spreads and thin orderbooks. Some market's don't exist. The DEX also appears complex. These three aspects scare off people who are near-converts. After all, if they want to see what the DEX is like, they are already interested - and would likely stay if we provided what they need. Bare potential isn't enough.
We need less complexity and liquid, deep markets. Both of these can be achieved sooner by doing some painful pruning, and focusing most of our efforts on bitUSD and bitCNY. We should hide the BTS, BTC and bitBTC tabs and direct users straight to the bitUSD markets, and make sure the markets are awesome there. The arguments for bitUSD are: 1) USD is familiar and stable, 2) MPA:s lock collateral and 3) MPA:s are a unique selling point.
If we work together in a focused way, we WILL succeed in what we set as our goal. If we all just solo-perform without clear short-term goals, we will stagnate. So actually I would like to emphasize the discussion - not so much on which base-asset to focus on - but whether we want to give up some personal freedom and work in concert. Therefore, only when it is clear that we want to submit to a common cause and commit to cooperation, is it worth discussing what to focus on. A goal without action is just a dream.
If there are no compelling arguments against focusing and pruning, we should all submit to the consensus and act accordingly. I know this is easy for me, with only some personal preferences, but really hard for people with businesses on top of Bitshares. However even these people can find ways to support a mutual agreement like this - to the benefit of us all.
So please discuss these points separately in order:
- If there are no compelling objections to a proposal that is generally considered beneficial, shouldn't we all commit to act on the proposal?
- If yes, then can we achieve what we want quicker if we put almost all focus on as few base currencies as possible?
- If yes, then is there any objection to temporarily omitting the BTS, BTC and bitBTC markets in favor of bitUSD and bitCNY, until the two are awesome and self-sustaining?
I will be very excited to listen to the discussion afterwards! I am priviliged to be a tiny part of this collection of amazing people!
EDIT: I will commit to act on whatever you agree on in the hangout - unless it's inaction.
EDIT2: I don't want to propose any specific action at this point. Getting a direction is the first step.
EDIT3: Copied to the right post
@markopaasila Thank you for sharing and reaching out to me on steemit.chat. I would be happy to talk about this sometime if people may like me to.
I would have 80% of my fiat capital in BitUSD or EUR if I could. It's the best way to be able to use that money to make a few obvious trade over the course of the year, having a lot more % interest that in a bank account, having privacy and a shitload more security !!!
WOW, 80% of your FIAT! But I don't think you get interest. That was Bitshares-0.9.
I may expressed it in a confusing way .. I meant "make a couple of obvious trades over the course of the year and thus, gaining more interest (ROI) than in a bank account)". Counting the ROI made on the trades ;p
It's not always easy to find a good trade but with a little time invested in keeping in touch with some projects, there are a few moment over a year when things get obvious.
That was better :-)
That's surely a good way to do trading. You also highlight one of the powerful selling points of Bitshares; the wallet and exchange being essentially the same thing. For that to reach it's full meaning, we need some good markets :-).