ETFBTC Asset on Bitshares - Stats, Thoughts and Future Plans
On Friday 10.03.2017 after the ETF of Winklevoss' brothers was denied, we settled our prediction market of ETFBTC at 0 BTS per ETFBTC.
We would like to thanks everyone who has participated in this first Prediction Market of The BigBetsGroup.
ETFBTC was just one of the very first MPAs that are going to be made by BBG, we will release more info on those in the next days.
But for now, let's have a look how ETFBTC went with some stats and base facts.
ETFBTC Background
ETFBTC was an asset by which you could bet on the SEC's decision about the Bitcoin ETF of the Winklevoss' brothers by either buying the asset or shorting it.
I have been explaining ETF and its impact on Bitcoin in various posts before that you can read HERE and HERE.
ETFBTC Charts and Stats
During almost 3 weeks we had people betting on outcome from SEC of the ETF.
Markets we created during this time were in BTS, STEEM, USD, BTC, OBITS.
We had 17 participants.
In total, the community and ourselves have shorted into existence 44,854 ETFBTC.
ETFBTC - BTS Chart
The final prices by which our asset went were:
The fees we raised as the market creators were 1375 ETFBTC, yet, we had to pay a big percent of those back to the network totaling just a very slight margin for us.
What did we learn
We have learned that people are more and more interested in prediction markets on OpenLedger / and the Bitshares DEX. However, the GUI was a little bit complex for newcomers.
The main error we made was to use BTS as the short backing asset which made mathematics a bit hard. We are considering using BitBTC or BitUSD for the next Prediction Market.
Moreover, we had some bad luck with third parties hosting DEX such as OpenLedger having some downtimes.
Future Plans of BBG
- Create MPAs on regular basis
- Get Marketing Fund
- Ease Up betting on Prediction Market
- Open more currency pairs
- Add special prizes based on volume
- Get extra members to the team
STEEM RAISED FROM THIS POST WILL BE SHARED BETWEEN ME AND @linouxis9. WE WILL USE THE FUNDS TO SUPPORT OUR NEXT CREATION.
@abit your 100% doesnt seem fair on such low paying post even not in top of trending or so to be a target.
It's part of an "experiment". Check smooth comments.
And quit whining. Lol. ;)
Experiment is to counter whales. Countering by overpower of 50% is not part of the experiment. Do the maths and check created vs abit powers that he used to counter him.
His vote is countering a few whales from what I can see.
Nope and its been counted up but its fixed by others anyways.
Yea as more people new to crypto and definitely BTS there needs to be some basic things people can recognize and bitUSD seems to make it a lot easier to learn.
i am a little surprised it got denied.. is anyone else?
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