Trade DACs on the NHZ blockchain (BTSX, LTS, PTS)

[fuzzy]

I mean that if someone was willing to honor a 1 to 1 exchange rate between BTC and UserBTC and the market trusted them, then the internal market would allow people to trade BTSX vs UserBTC without having to go through a centralized exchange.

I like it, but in order to do that one would need a large pool of btc to handle a large tx volume in the escrowed "userbtc",  correct?

[bytemaster]

I mean that if someone was willing to honor a 1 to 1 exchange rate between BTC and UserBTC and the market trusted them, then the internal market would allow people to trade BTSX vs UserBTC without having to go through a centralized exchange. 

[fuzzy]

Anything that spreads BitShares' tentacles into different areas is a way to show it off and possibly attract more people. I can see that benefit here, which you have described well, fuz. But I would weigh that carefully with the danger of encouraging people to spend more time in another ecosystem. Time and energy spent there might better be spent in building BitShares itself. Weigh those considerations and perhaps one comes out as being more important.

in my eyes it all comes down to the relationship between the nhz devs and the bitshares community.  I know for a fact that pharesim is one of the first to mine bitshares and that is why he chose bitshares for this. I also know he is busting his butt behind the scenes to help both nhz and bitshares.  I simply helped him see a potential path to coordination.  There are many ways to market, but some are more straightforward than others....this has a longer time horizon but could end up giving us a larger base of users/devs to work on building the product.
Im also kind of wondering if bytemaster could explain a bit what he meant in his last post here.

[donkeypong]

Anything that spreads BitShares' tentacles into different areas is a way to show it off and possibly attract more people. I can see that benefit here, which you have described well, fuz. But I would weigh that carefully with the danger of encouraging people to spend more time in another ecosystem. Time and energy spent there might better be spent in building BitShares itself. Weigh those considerations and perhaps one comes out as being more important.

[fuzzy]

bumping this thread 

[fuzzy]

I think you guys may be missing something important:

Yes, we can have the same functionality on BTSX, however having real decentralized gateway to other currencies strengthens the ecosystem, and will provide more liquidity and stability to the prediction market.

exactly my point.  but not only that, it also does two other things:  gives BTS investors an early, and cheap, "in" on a crypto with a solid plan to distribute coinage and it establishes NHZ as a potential future competitor to NXT, while also subtly reinforcing the belief that BitShares is a superior product.  Those are my reasons for being in on this, anyway... 

[bitmeat]

I think you guys may be missing something important:

Yes, we can have the same functionality on BTSX, however having real decentralized gateway to other currencies strengthens the ecosystem, and will provide more liquidity and stability to the prediction market.

[fuzzy]

Why trade on NHZ when you can do the same kind of trading with user issued assets on BTSX? 

Perhaps you should also offer escrow for BTC for your own BTC asset on BTSX?

Perhaps he would be interested in doing this too if he is supported in his original work and intentions?  Seraph literally taught me to cloudmine my first PTS.  NHZ is also cheap right now so it is entirely possible that the bitshares community gets the inside track on another exchange.  My two cents...

As I see it, people are fighting to get on the centralized exchanges...why would we turn down any opportunities for bitshares' DACs to be floated on NHZ in addition to on BTSx?

[donkeypong]

Why trade on NHZ when you can do the same kind of trading with user issued assets on BTSX? 

Perhaps you should also offer escrow for BTC for your own BTC asset on BTSX?

Exactly. We'll have our own; no need to use NXT for this.

[bitmeat]

Also it's confusing since I don't know how much an NHZ really is. You should work with bitshares to make deposits withdrawals on the bitshares X network. With fast confirmation times it is simply great and will strengthen both ecosystems. In other words create NHZ asset on bitshares.

[bytemaster]

Why trade on NHZ when you can do the same kind of trading with user issued assets on BTSX? 

Perhaps you should also offer escrow for BTC for your own BTC asset on BTSX?

[bitmeat]

I think this is a major step in the right direction. It needs to be more idiot proof. I think I did the only BTSX transaction there

[pharesim]

The code of the gateway script was updated, the storage server now gets all information regarding deposits and withdrawals from the blockchain and has no other contact to the outside world.

Still looking for one multisig wallet partner (at least for pts and lts - didn't see a possibility for it with btsx yet).

Come on, how can you guys here not support efforts for decentralization?

[pharesim]

Asset Exchange -> Open Orders

[bitmeat]

So how does one cancel an order?!?