Author Topic: Full Pay Delegates for Gateways  (Read 6767 times)

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Offline Frodo

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I would like to see a localbitcoins style site for bitshares so to make it easy for any individual to act as an on/off ramp.  All you need is a bank account to participate.  (not even that, if your trading locally)

I'm not sure its necessary to pay someone to operate a Gateway, as the gateway should be able to make its own income/ provide its own incentives to run it.

Fully agree with both points.

As a new investor I would be a bit sceptical if we basically used investor funds just to get some gateways running. For me one of the greatest things about BitShares is its economic efficiency. We don't want to lose that.

Offline matt608

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What if gateways passed on part of their delegate pay to their customers as some kind of bonus, or interest? Would there be any economic incentive to do this? Would there be any economic incentive to not hire and/or fire gateways that do this? Would this be a good or bad or neutral thing for BTS holders?

Yes, that's the way to do it, if done at all.

Offer the gateway delegate pay on the condition they use it give discounts to users to make use of their new BitShares features, for a limited time, such as 1 year.

Should only be done for really big serious gateways such as bitstamp or coinbase.  Once you got a couple of major gateways on board smaller sites will want to do it too for free.

The problem is ensuring the gateway keeps the delegate position.  If there was a way to 'lock in' a vote for certain time period then deals like this could be made a lot more easily.
« Last Edit: December 28, 2014, 10:08:35 pm by matt608 »

Offline fluxer555

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A crazy, not-thought-out idea...

What if gateways passed on part of their delegate pay to their customers as some kind of bonus, or interest? Would there be any economic incentive to do this? Would there be any economic incentive to not hire and/or fire gateways that do this? Would this be a good or bad or neutral thing for BTS holders?

Offline Rune

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I think this is a fantastic idea.

If we keep it uncapped or capped very high, it would not make the initial low payment see irrelevant as it is clearly a long term investment. We  can have groups of stakevoters go together to sign a statement saying that they will vote for a delegate that can have 100% payrate until a very high number. We could use really high cap numbers to gain attention.

This strategy could also be used for "top devs". We could announce:

Support major fiat gateways for a 100% investment delegate up til 1 million USD per year (numbers are made up, I don't know what would be most efficient?).

Support a single developer delegate for Gavin for up to[average high level dev salary] USD per year.

Support a single developer delegate for satoshi for up to 10-20 million USD per year (or some really high number to draw attention).

I think this would actually draw attention from the kind of people who understand why mining was the biggest completely new business bitcoin spawned. This is the kind of offer you can take directly to coinbase/circle/bitstamp and other big business in bitcoin.

Offline fuzzy

I would like to see a localbitcoins style site for bitshares so to make it easy for any individual to act as an on/off ramp.  All you need is a bank account to participate.  (not even that, if your trading locally)

I'm not sure its necessary to pay someone to operate a Gateway, as the gateway should be able to make its own income/ provide its own incentives to run it.

The only problem I see is that competitors like Nubits and Ripple offer something of immediate value because they are more centralized.  NuShares holders can just create a bunch of nubits and give them to gateways, Ripple's founders have so many XRP and power over who controls the network that they can offer other great incentives.  How do we compete?

We don't!
Do you really want to pay someone to get BTS on his service? We could pay the integration but this would end with it. Why should i pay the Gateway for BTS and the Gateway will also collect money from us?

I never said they have to collect money in tx fees.  However, I see your point.  Perhaps it could be seen as a (temporary) subsidy that they can get if they offer lower tx fees for bitAssets than other cryptos?

If we build ALL our own gateways (many of which I support fully--like the metaexchange) from the ground up then THEY have to gain traction in a market where our competitors are already gaining significant value from being allied with first mover gateways.
« Last Edit: December 28, 2014, 09:49:34 pm by fuzzy »
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Offline Shentist

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I would like to see a localbitcoins style site for bitshares so to make it easy for any individual to act as an on/off ramp.  All you need is a bank account to participate.  (not even that, if your trading locally)

I'm not sure its necessary to pay someone to operate a Gateway, as the gateway should be able to make its own income/ provide its own incentives to run it.

The only problem I see is that competitors like Nubits and Ripple offer something of immediate value because they are more centralized.  NuShares holders can just create a bunch of nubits and give them to gateways, Ripple's founders have so many XRP and power over who controls the network that they can offer other great incentives.  How do we compete?

We don't!
Do you really want to pay someone to get BTS on his service? We could pay the integration but this would end with it. Why should i pay the Gateway for BTS and the Gateway will also collect money from us?

Offline fuzzy

I would like to see a localbitcoins style site for bitshares so to make it easy for any individual to act as an on/off ramp.  All you need is a bank account to participate.  (not even that, if your trading locally)

I'm not sure its necessary to pay someone to operate a Gateway, as the gateway should be able to make its own income/ provide its own incentives to run it.

The only problem I see is that competitors like Nubits and Ripple offer something of immediate value because they are more centralized.  NuShares holders can just create a bunch of nubits and give them to gateways, Ripple's founders have so many XRP and power over who controls the network that they can offer other great incentives.  How do we compete?
WhaleShares==DKP; BitShares is our Community! 
ShareBits and WhaleShares = Love :D

Xeldal

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I would like to see a localbitcoins style site for bitshares so to make it easy for any individual to act as an on/off ramp.  All you need is a bank account to participate.  (not even that, if your trading locally)

I'm not sure its necessary to pay someone to operate a Gateway, as the gateway should be able to make its own income/ provide its own incentives to run it.

Offline fuzzy

What if we as a community decided to set aside perhaps twenty or so 100% delegates "on Contract" to receive 100% delegate pay for up to a full year for opening up fiat Gateways (like BTC38 did) and meeting certain metrics we write. 

I am NOT certain all of the details to how this would be done, but watching BTC38 have a delegate paid for and also noting their willingness to use bitCNY as though it is "real" CNY has really gotten me thinking about this...

Thoughts?  Please try to make them constructive!
WhaleShares==DKP; BitShares is our Community! 
ShareBits and WhaleShares = Love :D