Poll

Would you Support A Delegate for any Exchange that adds BTS and ALL bitAssets?

Yes, Defnitely...
No.  I disagree with the idea and do not want to see it happen.

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Offline fuzzy

Should we Approach Exchanges w/ Delegate Positions?
« on: April 10, 2015, 05:08:56 AM »

Please Vote in this Poll. 

« Last Edit: April 10, 2015, 05:15:31 AM by fuzzy »
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Offline fuzzy

Re: Should we Approach Exchanges w/ Delegate Positions?
« Reply #1 on: April 10, 2015, 05:14:42 AM »
Absolutely.

What does BM always say:

"It's all about liquidity"

Pay BTC-e a 100% delegate to list BitGold, and see what happens.

Or keep paying your marketers to try to get us listed on BTC-e.

I agree.  I would like to start a mailing list for these exchanges and begin mailing them.  But part of my service provided is to ask the community if they would support it first.
If the community hates the idea, it is a waste of my time and will likely get a pitchfork in my belly.  A risk I'm not one for taking if you catch my drift ;)
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Offline fuzzy

Re: Should we Approach Exchanges w/ Delegate Positions?
« Reply #2 on: April 10, 2015, 06:03:52 AM »
The poll does matter because a surrogate delegate would still cost the same as any other 100% delegate to register.  This is the order of operations:

1) poll the community to see if majority backs it.
2) contact delegate technicians
3) put together a mailing list of exchange contact emails
4) email offer of delegate to integrate BTS and bitassets
5) spin up delegate
6) get voted in

If I have no basis by which to judge the willingness of the shareholders to vote for any of them, all 2-6 become time-consuming and valueless.

I do agree though that these delegates would be very valuable.
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Offline xeroc

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Re: Should we Approach Exchanges w/ Delegate Positions?
« Reply #3 on: April 10, 2015, 06:51:42 AM »
This sounds like a really good idea .. I like it ..
The questions remains as to how this increases liquidity .. IMHO we should focus on exchanges that have FIAT support .. (ie. gateways)
it doesn't make sense to have yet another BTS/BTC pair .. or even worse .. a centralized version of bitUSD/BTC ???
let's focus on GATEWAYS!
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Offline donkeypong

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Re: Should we Approach Exchanges w/ Delegate Positions?
« Reply #4 on: April 10, 2015, 09:09:05 AM »
Using delegates to fund short-term projects does not sit well with me. But it's the best funding tool we have at the moment. And there's no question we need more liquidity. So I support this suggestion.

Offline BunkerChain Labs

Re: Should we Approach Exchanges w/ Delegate Positions?
« Reply #5 on: April 10, 2015, 03:10:25 PM »
I think I would only consider this if the exchange gives a value add of some kind.

I am certain other coins are not paying anything out to their exchange to have them hosted.. but I would submit they should have reduced fees and or no fees for trades on BTS/Assets if they are recieving a delegate.. its a win win for them.. the higher the market cap goes.. the more they are going to get from the delegate.

Question is however, what happens to this arrangement when the community decides to vote them out? We seen this happen to an existing exchange already.. do you think a exchange would be willing to risk everything on the fickle favour of the bitshares community?
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Offline pc

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Re: Should we Approach Exchanges w/ Delegate Positions?
« Reply #6 on: April 10, 2015, 04:34:28 PM »
I think I would only consider this if the exchange gives a value add of some kind.

+1

I see absolutely no reason why we should pay an exchange for integrating BTS and/or BitAssets. After all, they're supposed to earn money from trade fees. So they should fund the necessary development themselves. Unless they're repaying the DAC's investment, which I find unlikely.
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Offline btswildpig

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Re: Should we Approach Exchanges w/ Delegate Positions?
« Reply #7 on: April 10, 2015, 04:37:36 PM »
I think I would only consider this if the exchange gives a value add of some kind.

+1

I see absolutely no reason why we should pay an exchange for integrating BTS and/or BitAssets. After all, they're supposed to earn money from trade fees. So they should fund the necessary development themselves. Unless they're repaying the DAC's investment, which I find unlikely.

giving them coin in exchange for enlisting , that's the unwritten common rule for exchanges .
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Offline arhag

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Re: Should we Approach Exchanges w/ Delegate Positions?
« Reply #8 on: April 10, 2015, 04:50:58 PM »
I see absolutely no reason why we should pay an exchange for integrating BTS and/or BitAssets. After all, they're supposed to earn money from trade fees. So they should fund the necessary development themselves. Unless they're repaying the DAC's investment, which I find unlikely.

giving them coin in exchange for enlisting , that's the unwritten common rule for exchanges .

I don't agree with voting in a delegate specifically for an exchange. They are a for-profit business not a public good for the benefit of the BitShares ecosystem. If they are a worthwhile exchange, they shouldn't need an ongoing subsidy.

However, I can understand providing some initial subsidy in the form of helping them out with integrating the BitShares client software with their exchange or even providing an initial subsidy to cover their integration costs to offset their risk of investing time and resources for a coin that may not provide enough volume to provide them profit (of course that assumes that we are confident that the BitShares markets on that exchange will have sufficient volume and liquidity, otherwise it is a waste of our money). The former can be done by having some of our devs help out with the integration process and offering technical support (although the bulk of the work should be done by the exchange's devs or they should pay our devs consulting fees), and in this case the devs are already paid through their own delegates. In the latter case, I think a delegate that is specifically for the purpose of providing small one-time lump sums to different projects in order to bootstrap them (like fund.bitsharesbreakout) is more appropriate. However, I don't like the idea of voting in a delegate specifically for the exchange.

Finally, I really wish we would put more resources into getting a decentralized BTC UIA on the BitShares blockchain so that we can start using our DEX rather than relying on these centralized exchanges (who in theory should be our competitors).

Offline MisO69

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Re: Should we Approach Exchanges w/ Delegate Positions?
« Reply #9 on: April 10, 2015, 05:19:42 PM »
I think I would only consider this if the exchange gives a value add of some kind.

I am certain other coins are not paying anything out to their exchange to have them hosted.. but I would submit they should have reduced fees and or no fees for trades on BTS/Assets if they are recieving a delegate.. its a win win for them.. the higher the market cap goes.. the more they are going to get from the delegate.

Question is however, what happens to this arrangement when the community decides to vote them out? We seen this happen to an existing exchange already.. do you think a exchange would be willing to risk everything on the fickle favour of the bitshares community?

Here we go, with this solution the exchanges have a 100% paid delegate and we have no fees for trading BTS. I think this would increase trade volume significantly. I really like this idea and think it would work well.

 

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