Quote from: bogglor on September 15, 2015, 11:34:50 AM

Quote from: bitkapp on September 15, 2015, 09:56:09 AM

Discuss guys.

Quote from: bitkapp on September 13, 2015, 12:58:00 PM

Here is an idea I had recently (original post can be found on the DigiByteForum, click here for more information. If you guys agree or have suggestions please post on the digibyteforum because its easier to have a specific conversation there as opposed to here).

Quote

Hey guys,

I wanted to fly by an idea that I had recently. As you all know the price of DGB has decreased by about 50% since the start of the summer. I was thinking of creating a trading bot (DigiBot?) to "stabilize" the price or intervene in the market when necessary as well as reduce the possibility for arbitrage across the multiple exchanges. I know some people might not agree with the idea but I think its a good way to make some DGB that can then be reinvested in something like a Digibyte group marketing campaign.

I was thinking we could structure this in the same way a fund is structured. Ideally it would be nice to start with approx 1-2m DGB. Every "investor" would have his initial investment recorded and a percentage of the "equity" in the fund. As the fund makes money every investor would have his share of the profits payed out to him (say once a month). The fund would take a commission for maintaining the bot/server (as a percentage) and a voluntary donation (also as a percentage) that would go towards DGB development.

Basically Im thinking of a fund that both helps stabilise the DGB market, reduces arbitrage, makes some money for the investor and helps promote DGB all at the same time. If there is real interest I will make an official post and a format post for people to tell me there initial investment, donation option etc. for me to record for future payouts. I haven't started developing this but I am planning to start shortly (basically once DigiStats is back online and fixed).

Tell me what you guys think and lets get the ball rolling on this if people are interested.

Cheers!

I am against this idea.

One of the principles of cryptocurrency is that it is decentralized. What you are suggesting is a way to manipulate the price of DGB to keep it where you think it should be. That seems to go against the spirit of what crypto is. It shouldn't be controlled by any one person or entity.

And on top of it, you want to take a percentage of any profits for doing this? Sounds exactly what big banks and investment firms do.

I think I expressed myself wrong; the main aim of this is to reduce arbitrage opportunities which increase price discovery and equalizes the trading volume over the multiple exchanges. This is exactly in the spirit of the free market and is in fact encouraged. And the fee is in the spirit of any type of project like this one. Voluntary donation as suggested will be used to fund PR campaigns on DigiByte Group.

I really don't see the issue, this isn't about centralizing anything; it attempts to reduce price differences between the multiple exchanges.

Once I've hashed out the idea properly I will make a proper forum post on our forum to make my intentions clear.