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     8 years ago  

    I think that we need to give incentives to holders more than to shorters. If people want to hold, then people will short not the other way around. I think you guys forget that there are people out there (including myself) leaving in defaulted countries with no trust at all on their banking system. There are many people out there who want to be able to save their money away from the banking system, and if this system provides them with interest they will save their funds there.
    For what is worth I currently do not hold a single bitasset (except some small amount of steemdollars since they pay interest) and just bts. So it is in my favor to earn interest in bts. I believe bts is way undervalued and I don't want to sell any bts at these levels for any bitusd or biteur. Irrespective of that I think the right and normal thing to do is to earn interest in the form of open.xxx assets and then the holder of those open.xxx can convert to bts, bit.asset , fiat or whatever he wants.
    Now if I knew that I amy receive high interest of 20% in my bitasset holdings, since I am afraid of the current banking system, I would definitely consider transfer some funds from my bank account to bitassets especially since I will be partly covered 20% by other external IOU assets such as open.usd...
    Please people reconsider..We are talking about very small amounts from the reserve pool that can actually can make a huge difference.

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     8 years ago  
    1. for people living in defaulted countries, there is incentive to own bitassets even without interest (e.g. you live in Venezuela and believe that USD/EUR/CNY/Gold is much better currency, you buy bitUSD/bitEUR/bitCNY/bitGOLD)
    2. if you believe that BTS is "way undervalued", why don't you borrow and sell some bitAssets? not only will you keep value of your BTS, you will also end up with more BTS in your account
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       8 years ago  
      1. Without any interest I think it is safer even for me to keep my leftover savings in my Greek bank. With an interest from an external IOU form (Open.eur) that changes since my risk profile will be improved since 10% interest for my retirement money is definitely something to consider..

      The fact that I believe that bts is "way undervalued" doesn't mean that the liquidity permits my risk profile to lock a lot of bts for shorting bit.eur especially since the liquidity and demand for bit.eur is so low and I am exposed to margin calls. I don't want to gamble my life savings. I want to accumulate yield on my life savings..

      This is why I am repeating my self and say that we need first to give incentives to people to HOLD bitassets, thereby creating constant demand for those bitassets, by giving them high interests on their deposits which we can do with a very very small daily bts budget from the pool and THEN the traders will come along and short those bitassets in to existence..

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