Update on MM-BTCD asset (8122396658538927693). Now over 50% sold. Thanks to investors. I'd like to add some info on revenue streams:
Market making bot and buy walls will be set on NXT AE, Poloniex, and Bittrex
We plan to provide constant buy pressure, on top of usual market making, which should help the price grow.
So the purpose of the fund is twofold - bots are making profits through MM and at the same time gently push the price higher.
So you profit both from dividends and BTCD appreciation if you're a BTCD holder. To kick start dividend payments it is possible to hold some dividend paying asset, such as MMNXT. It will be decided on after the IPO phase is over.
Also I'd like to note that no further assets will be sold until the asset price doubles, outstanding shares will be sent to an escrow after IPO phase is over.
Dividends will be every Wednesday in superBTCD / mgwBTCD, but probably not this Wednesday: it's unlikely the ICO will have sold out and the bots fully operational by then. |
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The main idea is to add liquidity and buy support to BTCD.
Shouldn't InstantDEX be taking care of that imminently? Sure. I'm not certain about the timetable though, and instantDEX won't get up to full speed immediately. And every little helps, particularly after a long and brutal bear market. |
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I think that it is very good and liquidity.
I want to check,
As a way to distribute the stakers of BTCD,
DB (database) and I think that's necessary, but there is a distribution of the new purse for it?
The timing of the start of the reward?
Thank you
The main idea is to add liquidity and buy support to BTCD. The effect will likely be limited, especially at first, but I hope that it will still be worthwhile. BTCD's thin orderbooks mean that it is susceptible to market manipulation and large price swings on low volumes. If we can gradually increase value ahead of the major tech releases, that would be good. I'm still thinking about the best way to distribute revenues to BTCD stakers. A database is not necessary. The simplest way would be to make a transaction with a large tx fee. It could be one tx fee per week, or 100 or 1000. It's chance who gets it, but the more transactions made, the more likely any given staker is to get that block. With one large payout it is effectively a lottery, and larger stakers are likely to get it. We'll need to strike a balance here. The new wallet is under development, but I'll let someone else who knows a little more than me update you on that. |
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Well, yes it can. SuperNET is many things, so each element can be used depending on what you're looking for. I'm still not sure why you're asking though - what's the downside to using MGW, which is already integrated into the client and requires no extra effort?
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MMBTCD asset is live. Asset id: 8122396658538927693See https://bitcointalk.org/index.php?topic=684090.msg11375150#msg11375150The aim of this asset is to increase liquidity for BTCD and place gentle upward pressure on it. It will pay out in mgwBTCD / superBTCD. Coinomat has already done great work with the MMNXT asset. BTCD has much lower volumes and thinner order books, so we're hoping we can do something about that. |
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If BTCD is said to be InstantDEX's reference currency and needs more time to be finished, can we extrapolate that InstantDEX cannot be finished until BTCD is finished?
No. BTCD operates as a currency just fine as it is, without Teleport etc. |
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BTCD market-maker (MM-BTCD) proposalBTCD is a strong ‘sleeper’ coin, with groundbreaking tech in the pipeline: Teleport, Telepathy, Ramchains and Transparent Forging, as well as acting as InstantDEX’s reference currency. However, in the medium term the market has punished BTCD for several reasons. These include the long BTC bear market, which compounds a downturn in the alts. Crypto investors tend to have short-term timeframes, and several large holders from the proof-of-work phase have dumped thousands of coins on the market. Combined with BTCD’s otherwise low volumes, these factors have pushed the price from a high of 0.015 BTC down to 0.003, and from over $6 down to under $1. BTCD will be integral to SuperNET and likely its #1 use case, but BTCD’s tech has wider appeal, with a broad range of potential applications. We would like to see a thriving BTCD ecosystem on its own terms to complement and facilitate its role in SuperNET. PurposeThe aims of MM-BTCD are: - To reward long-term holders of BTCD
- To incentivise stakers and strengthen the network
- To add liquidity to the markets
- To reduce volatility
- To encourage developers and entrepreneurs to build further apps on top of BTCD
FormMM-BTCD will take the form of a Nxt asset. The reasons for this over a centralised solution are to enable transparency and security, and to facilitate payouts and a secondary market for shares. Most BTCD users are already familiar with Nxt via the SuperNET client. A market-making and arbitrage bot will be used to generate revenues from price differences across several exchanges, including Poloniex, Bittrex and the Nxt Asset Exchange (where BTCD trades as mgwBTCD and superBTCD). These are low-risk activities. Further higher-risk, higher-reward activities such as swing trading in BTCD and other key alts may gradually be phased in depending on initial revenues and risk tolerances. CoinomatThe bot has been coded by Coinomat and is already operating with limited capitalisation. This is a natural choice because Coinomat is known in the BTCD/Nxt communities and already operates the MMNXT bot/asset, which raises revenues from the NXT markets. (Revenues are currently in the region of 3% per month.) Coinomat will also be involved in the new BTCD wallet, offering an integrated instant exchange function, as in the SuperNET client, and the ability to cash out to an anon card. Care will need to be taken to avoid a conflict of interests with MMNXT’s activities. Funding and revenuesInitial capitalisation of 1 million NXT is estimated to be sufficient. Raising money in BTCD and BTC was considered, but these cannot be used to buy assets on the Nxt Asset Exchange. A total of 1 million MM-BTCD assets will be created. Asset id: 8122396658538927693.- 200,000 will be sold at 5 NXT each = 1,000,000 NXT.
- 200,000 will be retained by the asset issuers in return for BTCD capitalisation, development, marketing, maintenance and admin.
- A further 600,000 will be reserved for later sale if additional capitalisation is required.
No issuer-owned assets will be sold below 10 NXT. No further assets for additional capitalisation will be sold below 10 NXT. Payout will be in mgwBTCD/superBTCD, weekly on Wednesdays. Revenues will be distributed as follows: - 90% to assetholders
- 10% to BTCD stakers (this may be as simple as making regular transfers with large tx fees)
Given that BTCD has around 10% of Nxt’s market cap and 5% of the volume, revenues are likely to be low at first. However, the constant buy-pressure will also make a greater difference to the market. Coinomat, Azeh and Cassius
Feedback?
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Why do you ask? Don't you want to use exchanges?
Not sure what you mean here. Given that it's all integrated, I'm not sure why you're asking. What's the downside? |
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a unique feature of supernet requires that unique feature to work,
But your question specifically i read as "do the unique features need only mgw or coinomat to work" no, unique features are independent of supernets other features
Coinomat is a unique feature, so you select coinomat if you wish to use it
mgw is a unique feature, so you select mgw if you wish to use it
Pangea poker is a unique feature, so you select pangea poker if you wish to use it
Opal drive is a unique feature, so you select opal drive if you wish to use it
Instantdex is a unique feature, so you select instantdex if you wish to use it
NeoDice is a unique feature, so you select neodice if you wish to use it
Etc
Why do you ask? Don't you want to use exchanges? I see. So I can use Pangea Poker, Opal Drive, InstantDEX, or NeoDice without using either Coinomat or MGW? |
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SuperNET is built on Nxt. The SuperNET wallet is basically a pimped Nxt wallet.
MGW forms an important part of SuperNET, since it's part of the exchange system.
Can SuperNET's exchange system be used without MGW? Good question. Yes and no  SuperNET is not just one thing. So there are different exchange services and elements within it. You can use the Coinomat instant exchange plugin, for example, which obviously doesn't use MGW. It's centralised, but very fast and effective. If you want a distributed exchange that's not subject to the kind of problems BTER periodically experiences, MGW is the way to go. InstantDEX involves MGW (I think, I'm still getting my head around the exact relationship between them, even after James drew a graphic). Ultimately, for all the behind-the-scenes magic, SuperNET's native InstantDEX/MGW will be used. So maybe SuperNET requires using either Coinomat or InstantDEX? I know InstantDEX can use coins in a centralized exchange instead of using MGW. InstantDEX will have hybrid order books, which will allow you to gain the best price from a range of exchanges. SuperNET's native exchange is the distributed MGW. |
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SuperNET is built on Nxt. The SuperNET wallet is basically a pimped Nxt wallet.
MGW forms an important part of SuperNET, since it's part of the exchange system.
Can SuperNET's exchange system be used without MGW? Good question. Yes and no SuperNET is not just one thing. So there are different exchange services and elements within it. You can use the Coinomat instant exchange plugin, for example, which obviously doesn't use MGW. It's centralised, but very fast and effective. If you want a distributed exchange that's not subject to the kind of problems BTER periodically experiences, MGW is the way to go. InstantDEX involves MGW (I think, I'm still getting my head around the exact relationship between them, even after James drew a graphic). Ultimately, for all the behind-the-scenes magic, SuperNET's native InstantDEX/MGW will be used. |
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SuperNET is built on Nxt. The SuperNET wallet is basically a pimped Nxt wallet.
MGW forms an important part of SuperNET, since it's part of the exchange system.
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^^^ This is not Etherum. Dev is not paid.
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Are the privacy features of BTCD working?
Not yet. James has done most (I think) of the coding and they're working in API mode. You can play with them if you like, but they haven't been thoroughly tested/debugged integrated into the client. |
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Sent! Hopefully will be able to send some more but I like the idea of supporting with bitcoin, too.
Does anyone know if it's possible to embed messages in the BTCD blockchain, like BTC? Presumably it is, but I haven't seen that in the current client.
Also, average number of blocks per day? Is it 1440 (1 per minute)?
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There are also some plans under way to accept BTC donations, so that people don't have to give up their BTCD stakes.
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so what happens if you have a keylogger on your computer? Create encrypted private key on air-gapped machine, copy via USB (or type manually). 1) Usb keys are known to be capable of having viruses on them even if they are not connected to the internet. As far as I understand the infamous Stuxnet virus operated like that. 2) seems like a massive hassle to type things manually from an air-gapped machine. 3) In my opinion having such concerns kind of ruins the point of purchasing a special BTC hardware wallet. If you need the wallet and additionally need an air gapped machine you may as well just purchase a different hardware wallet that is less of a hassle eg. a trezor or a Case hardware wallet etc I guess it may have the same result but I would pay more to have less steps to perform. a simple solution but a lighter wallet XD Generate keys offline. Keep in head. Hodl. It's the only way to fly. |
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