RE: Proposal to reward bitassets holders with interest!

[ppitonak]

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

Comments

[mf-tzo]

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..