Why have you stopped using BitShares?

How should development time be spent?

Core development wise, tackling the 8.0 project tasks.

UI wise, trying to implement all the features from the reference wallet using modern day web tech stacks.

How to onboard new users?

Promises of regular NFT airdrops for using the DEX?

Encouraging more people to participate in the referral mechanism, perhaps even allowing non-LTM to be referrers?

Perhaps worth creating a chatgpt gpt agent for the custom gpt agent store, for Bitshares? Comparing BTS to other cryptos, referring users to creating an account, etc.

Promoting Bitshares & referring users to BTS DEX on TikTok and similar platforms

How to attract new developers to build apps on top of the BTS blockchain?

Bitshares Beet & BeetEOS multiwallets make it very easy to create BTS blockchain apps, as all key/identity management is delegated entirely to the multiwallet; this allows the developer to focus on building their new features instead of reinventing the wheel handling authentication and safe key storage.

The custom GPT could also potentially drive new developers to Bitshares if we tell the GPT that the BTS DEX needs skilled devs.

Creating a generic worker proposal to reward developers for their BTS DEX contributions would certainly also drive developers to Bitshares.

How to grow the community once again?

Difficult, there were a few major reasons for community shrinkage:

• 2 new coins forked away from BTS, taking away a subset of the BTS DEX community away with them
  • These coins have faded into obscurity, with market caps 1/30th that of Bitshares so perhaps they'll come back to the more stable Bitshares DEX.
• Multiple gateways shutting down burned users in a consecutive manner
  • Openledger, CryptoBridge and Rudex all shut down burning their bridges with the BTS DEX and leaving plenty of users with worthless exchange backed asset tokens on the DEX.
  • Building the tech for new gateways to replace the dead ones, supporting existing gateways and using their liquidity pools will grow their presence on the DEX.
• Steemit -> Hive move
  • We had a huge presence on Steemit, back with the Beyond Bitcoin & Bitshares hangouts, whilst some have come over to Hive, the posting presence isn't as strong. Encouraging people to post about Bitshares topic on Hive and voting for each other could grow BTS DEX social media presence.
• Multiple people abusing the Bitshares trademark
  • People should not be using "Bitshares" in their business ventures; the bitshares investment management community, bitshares international and bithares labs for example, if/when they do wrong, it's perceived as the BTS DEX doing something bad instead of a 3rd party company.

I'd maybe also say we should improve the Bitshares reddit presence, and significantly clean up the bitsharestalk forum potentially by firstly buying the forum from whoever has abandoned it (probably milos).

Further, we really need greater DPOS participation, there's very low visibility from witnesses, and very few people contending for the witness and committee positions despite democracy being a fundamental factor of DPOS

What do you think will jump start the community once again?

Another thing we really need to address is getting the Bitshares DEX listed everywhere there's a list of DEX - too often Bitshares is not included.

Further, having all the credit offers and liquidity pool data made available to websites tracking these sorts of things will drive users to the Bitshares DEX. By these platforms not showing the BTS DEX pools alongisde competitor pools we lose out on opportunities to grow the BTS DEX user base

Regarding the smartcoins, to revive most of them Bitshares 'simply' needs to increase in price to a point above undercollateralization. Until then some of the committee owned smartcoins cannot be borrowed and have a largely undercollateralized value.

There's nothing preventing anyone creating a new smartcoin, multiple privatized smartcoins have been created, such as Hertz, Hero and Honest.USD.

These privatized smartcoins can have competitive settings, innovative financial theories, and most importantly a fresh slate for users to begin borrowing, however there are huge hurdles to overcome for these new privatized smartcoins to gain traction namely:

• Getting price feed producers for your smartcoin is very difficult; it's a multi week task to get several price feed publishers to add your asset, nevermind getting your asset added to existing price feeding scripts. You're more likely to have your peers feed the smartcoin than for the witnesses or committee to do so.
• Once price fed and borrowable, you need to convince BTS DEX users to borrow it, to trust the price feeds and to trade it. The task becomes one of marketing.
• Borrowing is largely a manual task, there doesn't seem to be many bots out there automatically borrowing smartcoins and maintaining their collateral.
• If the backing collateral is highly volatile, people might not borrow due to risk of liquidation.

I'd say perhaps to avoid a BTS collateral death spiral, the collateral of a smartcoin should be an exchange backed asset like XBTS.BTC, so that CEX cannot easily manipulate the price of the collateral asset to cause indefinite global settlement.

Some of the new smartcoin settings like individual settlement funds also can help avoid breaking the smartcoin if the collateral value craters.

There's huge potential for smartcoin tech, it's just that most/all of them used BTS as collateral, used CEX provided prices for price feeds, then went into a death spiral as the BTS price dropped.

Locking up more BTS as collateral, making less BTS liquid, is great, but we have other means of doing so now on the dex, credit deals, vesting balances and liquidity pools for example, plus the DEX harvests BTS fees from every blockchain operation, so not using BTS as the collateral isn't a detriment to BTS.

Getting some of the server hosted BTS solutions added to virtual machine marketplaces might make it easier for people to get them running https://blogs.vmware.com/tap/2022/03/01/publish-on-vmware-marketplace/

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Regarding the core 8.0 upgrade, I see bsip 40 is included with custom active permissions. Would this allow an app like BeetEOS to be expanded into someone similar to the Hive Keychain for easy login across platforms?

I would pay for a bounty if one of the more technical users/developers could draw a nice diagram/overview how all the apps currently fit and work together. I believe it is still hard for a business or user to see how the apps work together if they wanted to start a liquidity pool for example. Simple ELI5 for an api node, cli wallet needed anymore?, Beet, BeetEOS,BitShares-Gateway, etc...

This leads into your comment on price feed's and witnesses. Regarding price feed's is there a simple setup guide for users to contribute? A website showing price feed participation, similar to witnesses would promote authenticity. Witness node documentation also seems lacking when you think of PoW, simply running a mining app, and joining a pool.

BTS is a very deep and complicated blockchain, some simplicity for users/developers could go a long way to increase participation.

Bitshares and DeFi is needed more then ever. I believe these situations will only escalate to become common practice. BTS is a step in the right direction to protect both businesses and users.

https://www.coindesk.com/policy/2024/03/13/binance-nigeria-brawl-continues-as-country-asks-exchange-to-submit-list-of-top-100-users/

Beet & BeetEOS already offer wallet-side fine-tuning of allowed operations when interacting with QR codes, deeplinks and websockets, but yeah BSIP 40 is interesting for sure!

With BSIP 40 custom authorities, you could add that single key for the account in the wallet similar to adding a memo key based account, it will enable significantly reducing the amount of confidential data being stored encrypted on disk.

You could also create a github action which is scheduled to publish price feeds, with the custom price feeding key stored in the private reporisory credential store, without fearing loss of your entire account. Worst case scenario if your github account was hacked is that invalid feeds are provided, but you could plausibly invalidate the key to stop the attack before regaining access to your github account.

Regarding price feed's is there a simple setup guide for users to contribute?

I wrote a whitepaper for an old algorithm based smartcoin, it's got some additional insights you might be interested in: https://github.com/BTS-CM/Hertz-Whitepaper/blob/master/hertz_whitepaper.md

Though, otherwise not really, it's the responsibility of the smartcoin owner to coordinate proper price scheduling, you can't just volunteer price feeds for a smartcoin you need to either be on the private price feed publisher list, or be in the committee or be an active witness.

Price feed publishing is also not free, it does cost money over time, which smatcoin owners need to consider when asking people to publish price feeds for them - the publisher could run out of BTS to fund their automated scripts and thus stop feeding if they forget about it, or they could in the long term change their mind if feeding doesn't benefit the DEX or themselves in the long term.

Just because you pick the witnesses, the committee or add people to your feed list, they don't have to price feed, especially if your communication with them is low/poor.

Otherwise, documentation wise we're talking about like the readme's accommodating automated price feeding scripts on github

You can track the price feeding history within the reference wallet, and within block explorers like blocksights or the kabana data analytics page, but no otherwise there's not like a webpage dedicated to monitoring all the price feeds for all smartcoins.

I think witness node solutions are somewhat proprietary, there needs to be a push for greater vote lock ticket creation, voting participation and witness activity

https://github.com/bitshares/awesome-bitshares

nice,further promotion is needed, such as x.com

IDK if x/twitter is even worth bothering with, very little real engagement on there.
At least hive pays you for your content

https://www.reddit.com/r/BitShares/comments/1gv03er/why_have_you_stopped_using_bitshares_seeking/
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