[idea] A federal reserve system for bitcoin

ifinta

full member

Activity: 733

Merit: 109

Quote from: d5000 on April 04, 2019, 04:46:08 PM

Well, the guys that brought us the "Bart Simpson" chart pattern maybe are some kind of "Federal Reserve" Wink

While this is an old image, the pattern was very much used between 6000 and 7000 and also somewhat between 3000 and 4000.

Obviously, the reason are short-term traders. But they have the same effect than as if was a "FED" - they've stabilized the price a bit. So encouraging short-term trading techniques (including arbitrage and short-term short selling) seems a viable strategy to stabilize the Bitcoin price and make it more useful "as a currency" Grin

(I'm still working on the idea I linked before. Maybe this year I can code a prototype. However, it seems this year is to become bullish, so it wouldn't get massive acceptance, but at the end of a bull phase stabilization mechanisms will get more demand (as people become increasingly fearful) Wink

)

FYI

Quote from: ifinta on March 14, 2019, 03:11:58 PM

And an important information.
We hired a person, to be the CEO of our FED:

I would like to present his face:

I just met with he on the bitcoinwisdom. Bitstamp.

ifinta

full member

Activity: 733

Merit: 109

Quote from: d5000 on April 04, 2019, 04:46:08 PM

Well, the guys that brought us the "Bart Simpson" chart pattern maybe are some kind of "Federal Reserve" Wink

...

Sure

d5000

legendary

Activity: 3906

Merit: 6249

Decentralization Maximalist

Well, the guys that brought us the "Bart Simpson" chart pattern maybe are some kind of "Federal Reserve" Wink

While this is an old image, the pattern was very much used between 6000 and 7000 and also somewhat between 3000 and 4000.

Obviously, the reason are short-term traders. But they have the same effect than as if was a "FED" - they've stabilized the price a bit. So encouraging short-term trading techniques (including arbitrage and short-term short selling) seems a viable strategy to stabilize the Bitcoin price and make it more useful "as a currency" Grin

(I'm still working on the idea I linked before. Maybe this year I can code a prototype. However, it seems this year is to become bullish, so it wouldn't get massive acceptance, but at the end of a bull phase stabilization mechanisms will get more demand (as people become increasingly fearful) Wink

)

ifinta

full member

Activity: 733

Merit: 109

Or a big whale, i.e. Satosi (?) started to govern the market? Huh

Why not?

Quote from: ifinta on April 03, 2019, 06:07:17 AM

https://github.com/ifinta/ourfed working? Cheesy

I know a fund because MtGox what fund would be able to do this work - and earn. And Japan needs a stable bitcoin - in Japan can we pay with bitcoins in many shops... It would be a round idea to do or try a role of FED from side our Trustee in Japan - on the bitcoin market at 5000 dollars. Why not?

ifinta

full member

Activity: 733

Merit: 109

https://github.com/ifinta/ourfed working? Cheesy

I know a fund because MtGox what fund would be able to do this work - and earn. And Japan needs a stable bitcoin - in Japan can we pay with bitcoins in many shops... It would be a round idea to do or try a role of FED from side our Trustee in Japan - on the bitcoin market at 5000 dollars. Why not?

ifinta

full member

Activity: 733

Merit: 109

Quote from: fasdorcas on March 13, 2019, 04:59:54 PM

Quote from: ifinta on March 11, 2019, 02:21:04 AM

Quote from: Crypdon on January 18, 2019, 05:05:36 PM

I like this idea, it helps to ensure that there is no overspend. However, it will be hard to maintain in a volatile market unless you have a lot of capital to make up the difference. Never used xapo so i won't participate but it is interesting nonetheless.

Many thanks. I think - it needs an app. With gun.db i.e. It could be act through a community - using such app. Every member can decide - how to do, but should be save the actual portfolio after every step.
I am at this time in an other project...... No time for all ideas - sorry. But this algo is unlicenced here

But please let me inform, if you are ready with the implementation - I would like to be a node or member

Sure.

I do not think such community is already in existence here and would also be interested in been a member if there’s any but my fear is on how we prevent whales from over dominating the group as we are sure of definitely having them and there might be chances of collaboration on their path to either increase or drop prices and this would sure forfeit the purpose of the group.

Please can you also try to put more light on the gun. DB., i understand you have a tight schedule but please understand that this is a necessity to many at the moment and you would be an hero to come through.

please:
https://github.com/amark/gun

ifinta

full member

Activity: 733

Merit: 109

And an important information.
We hired a person, to be the CEO of our FED:

I would like to present his face:

I just met with he on the bitcoinwisdom. Bitstamp.

fasdorcas

hero member

Activity: 798

Merit: 527

Quote from: ifinta on March 11, 2019, 02:21:04 AM

Quote from: Crypdon on January 18, 2019, 05:05:36 PM

I like this idea, it helps to ensure that there is no overspend. However, it will be hard to maintain in a volatile market unless you have a lot of capital to make up the difference. Never used xapo so i won't participate but it is interesting nonetheless.

Many thanks. I think - it needs an app. With gun.db i.e. It could be act through a community - using such app. Every member can decide - how to do, but should be save the actual portfolio after every step.
I am at this time in an other project...... No time for all ideas - sorry. But this algo is unlicenced here

But please let me inform, if you are ready with the implementation - I would like to be a node or member

Sure.

I do not think such community is already in existence here and would also be interested in been a member if there’s any but my fear is on how we prevent whales from over dominating the group as we are sure of definitely having them and there might be chances of collaboration on their path to either increase or drop prices and this would sure forfeit the purpose of the group.

Please can you also try to put more light on the gun. DB., i understand you have a tight schedule but please understand that this is a necessity to many at the moment and you would be an hero to come through.

ifinta

full member

Activity: 733

Merit: 109

Quote from: ifinta on March 12, 2019, 02:41:12 AM

Quote from: ifinta on March 11, 2019, 02:22:23 AM

Quote from: ifinta on January 18, 2019, 02:18:41 PM

Quote from: ifinta on June 12, 2017, 06:34:46 PM

Report:
- I decided to act again.
- My funds on Lykke (at this time): 2407.76 CHF and 0.9449 BTC

My funds on Lykke not reachable at this time Sad

The same amount... But not as valuable, as before. I try to contact Lykke support this year also... I need patiente, I know.

A question: did sombody implemented this algo? Or act similar at price changes?

My funds are unreachable at Lykke - since end of 2017?

I trying to solve it, but I have no enough time to do everything...

My Lykke wallet working!!!! Many thanks for the Support from Lykke......
I see my assets again.

This thread shows a possible FED system for bitcoin. But... It exists many issues. Fee's or unreachable accounts on exchanges, wallets...... Randomly.

We should learn from past - I think.
I started a development to establish a backed crypto - Charm. 100 Charm are 1 Kiss. It is possible then to pay with Kisses for a pizza or caffe Cheesy

It shouldn't be taxed. Or?
This "money" backed through "cells" and values as gold, silver, emeralds, ... later: oil, immobiles, ...

We planning this asset for Bitcoin network also! We hope, we find partners for our development. Dorotheum? Christie? ... Some is under diskussion already.

Please see and follow the steps of our development in the official thread:
https://bitcointalksearch.org/topic/anncharmico-dorothyum-charm-toto-and-emerald-on-the-obyte-dev-by-oz-4392525

Many thanks for attention, for any support...

ifinta

full member

Activity: 733

Merit: 109

Quote from: ifinta on March 11, 2019, 02:22:23 AM

Quote from: ifinta on January 18, 2019, 02:18:41 PM

Quote from: ifinta on June 12, 2017, 06:34:46 PM

Report:
- I decided to act again.
- My funds on Lykke (at this time): 2407.76 CHF and 0.9449 BTC

My funds on Lykke not reachable at this time Sad

The same amount... But not as valuable, as before. I try to contact Lykke support this year also... I need patiente, I know.

A question: did sombody implemented this algo? Or act similar at price changes?

My funds are unreachable at Lykke - since end of 2017?

I trying to solve it, but I have no enough time to do everything...

My Lykke wallet working!!!! Many thanks for the Support from Lykke......
I see my assets again.

ifinta

full member

Activity: 733

Merit: 109

Quote from: ifinta on January 18, 2019, 02:18:41 PM

Quote from: ifinta on June 12, 2017, 06:34:46 PM

Report:
- I decided to act again.
- My funds on Lykke (at this time): 2407.76 CHF and 0.9449 BTC

My funds on Lykke not reachable at this time Sad

The same amount... But not as valuable, as before. I try to contact Lykke support this year also... I need patiente, I know.

A question: did sombody implemented this algo? Or act similar at price changes?

My funds are unreachable at Lykke - since end of 2017?

I trying to solve it, but I have no enough time to do everything...

ifinta

full member

Activity: 733

Merit: 109

Quote from: Crypdon on January 18, 2019, 05:05:36 PM

I like this idea, it helps to ensure that there is no overspend. However, it will be hard to maintain in a volatile market unless you have a lot of capital to make up the difference. Never used xapo so i won't participate but it is interesting nonetheless.

Many thanks. I think - it needs an app. With gun.db i.e. It could be act through a community - using such app. Every member can decide - how to do, but should be save the actual portfolio after every step.
I am at this time in an other project...... No time for all ideas - sorry. But this algo is unlicenced here

But please let me inform, if you are ready with the implementation - I would like to be a node or member

Sure.

Crypdon

member

Activity: 616

Merit: 11

I like this idea, it helps to ensure that there is no overspend. However, it will be hard to maintain in a volatile market unless you have a lot of capital to make up the difference. Never used xapo so i won't participate but it is interesting nonetheless.

ifinta

full member

Activity: 733

Merit: 109

Quote from: ifinta on June 12, 2017, 06:34:46 PM

Report:
- I decided to act again.
- My funds on Lykke (at this time): 2407.76 CHF and 0.9449 BTC

My funds on Lykke not reachable at this time Sad

The same amount... But not as valuable, as before. I try to contact Lykke support this year also... I need patiente, I know.

A question: did sombody implemented this algo? Or act similar at price changes?

ifinta

full member

Activity: 733

Merit: 109

Report:
- I decided to act again.
- My funds on Lykke (at this time): 2407.76 CHF and 0.9449 BTC

ifinta

full member

Activity: 733

Merit: 109

Quote from: hello_good_sir on June 12, 2017, 04:51:08 AM

Alright. I'm not super great with economics, i failed economics when i was in 11th grade so i'm still trying to comprehend how this works. So in a nutshell this is essentially something to help bitcoin reach its minimal volatility possible, correct?

Yes. Plus we become through an app more information about Bitcoin trading community.

Quote from: hello_good_sir on June 12, 2017, 04:51:08 AM

If i got this right... Why exactly is it called federal reserve?

It is a joke. I take this name from FED of US dollar. But if more people joining - we will have a reserve (in more fiat/precisous metal/...) for Bitcoin price "stability".

Quote from: hello_good_sir on June 12, 2017, 04:51:08 AM

And why does bitcoin need a whole system behind it to prevent it from crashing?

Bitcoin doesn't need this system. Bitcoin can work well in volatility also. Only humans (we both i.e.) angry because of heavy volatility... This system is for us, for humans Cheesy

Quote from: hello_good_sir on June 12, 2017, 04:51:08 AM

So are you using Lykke as a platform to hold different currencies right now? What makes them better than, say holding funds on Xapo/a bank? Sorry for this, i just don't get it 100%.

It is your choice, if you will join. I tried xapo also - see above - but I trying just Lykke, because they promise no fee's.

hello_good_sir

hero member

Activity: 1008

Merit: 531

Alright. I'm not super great with economics, i failed economics when i was in 11th grade so i'm still trying to comprehend how this works. So in a nutshell this is essentially something to help bitcoin reach its minimal volatility possible, correct?

If i got this right... Why exactly is it called federal reserve? And why does bitcoin need a whole system behind it to prevent it from crashing?

Quote from: ifinta on June 12, 2017, 03:21:25 AM

Thank you for feedbacks

I think more such system works for BTC already independently. Every trader has reserves in fiat and in Bitcoin also. And every trader has a strategy to buy and sell. It is well distributed - and we can see, the big price peaks and big price crashes not more a nature of Bitcoin. Or?
I started an other thread, a poll: https://bitcointalksearch.org/topic/bitcoin-hype-1903469
It shows the same result: most of people thinks, so big peak as in November 2013 is not more possible... If you has other opinions - please feel free to vote and post your opinions.

Only the app idea seems to me unique - it could give us informations about Bitcoin Market in a new way. Of course it needs a big, living community...

And: I decided to act again - I bought some CHF, and I have on Lykke Wallet 2842.23 CHF and 0.7802 BTC.

So are you using Lykke as a platform to hold different currencies right now? What makes them better than, say holding funds on Xapo/a bank? Sorry for this, i just don't get it 100%.

d5000

legendary

Activity: 3906

Merit: 6249

Decentralization Maximalist

Quote from: bluefirecorp on June 12, 2017, 01:17:21 AM

To operate this concept, you cannot rely on a third party wallet, you have to be a full fledged wallet provider yourself. If you rely on a third party and one fine morning the site is gone with all your (rather other's I would say) coins, then you know where you have to head to.

For the system to work, it would be necessary obviously that the participants use different wallets and exchanges. A good bet would be a "rebalancer bot" that does the rebalancing in an automatized way, is platform-independent and extensible by the API commands of the different exchanges and "fixed-rate shops" like Xapo.

It would be also interesting to integrate Bitsquare and Coinffeine (if it still exists) and perhaps also "fiat-backed" cryptocurrencies like the BitUSD. This way, single points of failure could be minimized.

PS: Just found this "portfolio rebalancing" bot that already uses the strategy since the year 2013. It was conceived for defunct exchange MtGox but surely can be adapted to be platform independent. Maybe there is a newer bot available.

Quote from: VC George on June 11, 2017, 02:20:11 PM

If we are to "impose" guarantees for x prices at y moments almost every price observation algorithm should have to include big merchants and at the same time BitPay, Coinify and other api providers should agree at the spreads of the price (eg at 19/6 UTC 00:00 the price stands at 2000$ & we guarantee this value until 12:00) but again the interval is big and they could lose or gain considerable amounts of fees if they are to convert their coins to fiat asap.

In my idea, the system would be totally decentralized, so every merchant on every platform could choose the price that he considers convenient to give his price guarantees. BitPay would only have to enable the option for merchants, but the provider itself would not need to guarantee nothing (because then, the backing mechanism would be fiat-based, not backed by "goods and service"). A good idea would be to use a price index like the one Coindesk uses and computes various exchanges and maybe moving averages, to avoid short term spikes.

ifinta

full member

Activity: 733

Merit: 109

Thank you for feedbacks

I think more such system works for BTC already independently. Every trader has reserves in fiat and in Bitcoin also. And every trader has a strategy to buy and sell. It is well distributed - and we can see, the big price peaks and big price crashes not more a nature of Bitcoin. Or?
I started an other thread, a poll: https://bitcointalksearch.org/topic/bitcoin-hype-1903469
It shows the same result: most of people thinks, so big peak as in November 2013 is not more possible... If you has other opinions - please feel free to vote and post your opinions.

Only the app idea seems to me unique - it could give us informations about Bitcoin Market in a new way. Of course it needs a big, living community...

And: I decided to act again - I bought some CHF, and I have on Lykke Wallet 2842.23 CHF and 0.7802 BTC.

bluefirecorp

legendary

Activity: 882

Merit: 1000

Not a new idea, this was thought of before and a few tried to implement but to no success.
To operate this concept, you cannot rely on a third party wallet, you have to be a full fledged wallet provider yourself. If you rely on a third party and one fine morning the site is gone with all your (rather other's I would say) coins, then you know where you have to head to.

Topic: [idea] A federal reserve system for bitcoin (Read 1652 times)