BackgroundThe Bitcoin mining market is essentially a hashing power market. However, different mining companies have different advantages and drawbacks, and the pros&cons are multi-dimensional, so different kinds of shares are not very convertible. Fortunately, the mining bonds become popular, which are much more fungible than normal mining company shares. Until now, they are merely alternatives to mining company shares to most of the investors/speculators. However, we could make use of their fungibility to mitigate the lack of liquidity on GLBSE.
Have you ever bought mining bonds on 0.6/share, then when you want to cash out, you find that there are only a handful of shares priced more than 0.6/share though the close price seems very high?
And have you want to invest in mining bonds, but missed the IPO opportunities, then you find the market has no reasonable price for a serious amount of investment?
IdeaImagine there's a market maker, who simultaneously asks and the bids shares each of which represents 1MH/s of (fungible) hashing power. For example, he buys 1MH/s of hashing power with 0.28BTC, and sells 1MH/s of hashing power with 0.32BTC, and guarantees a certain number of volume on each side. The asking and bidding price are constantly changing to reflect the supply and demand.
Then the customer could sell any mining bonds to him. Each share of bonds are converted to MH/s according to its actual hashing power. The customer could also buy hashing power from him, but the customer could not ask for a specific portfolio, which means it is the market maker's right to decide how the total hashing power should be composed by different mining bonds, as long as the total sum of hashing power is correct.
Discussions1. Is this idea interesting to you at all?
2. How could the market maker hedge his own risk on sudden price drops of the whole mining bonds market?
3. Could someone give some suggestion on how to make it fully automatic?
Note that I'm just coming up with premature ideas, I just found it interesting. So to MU shareholders, I won't be distracted by this from running MU. But of course it might be a part of MU's business in the future if the risk could be properly hedged. 
