Yes, first mover advantage is really important, still, if a smaller exchange comes out with something innovative, develops it and then a bigger one does the same thing after, the bigger one is still the one with the advantage because it has more exposure. But I guess that's just how the world works.

One other thing that I wanted to know and you replied are the factors that can differentiate each exchange while they all have the same thing and potentially even the same features. So they're the following:

- Costumer Support (Help provided to the clients)
- Interface (pleasing, efficient, nice to use)
- On/Off ramps (spreads)
- First Mover Advantage (this would be one more incentive to keep exchanges innovating)

Does anyone know of something more? In resume, it's the costumer experience. The one who can provide the best experience wins, but I would like to separate that into several parts as to know what the clients will evaluate and base their opinion on! I think the Exchange's own community matters too so I'll add that

- Community (useful members, trollbox)

Anything more?

@Stan You contradicted yourself I believe. All exchanges can have shared marketing since they are based on the same platform. However to achieve shared order books in order to increase market depth and liquidity - and this is just the most awesome thing - you can't have exchanges competing with UIAs to see which one offers to lower spread.

What they can offer is a bigger variety of offers. For example,  exchange A offers the top 10 cryptos. Exchange B offers the top 4 but with multiple other assets from their own businesses that are offering nice returns. Then it's up to the costumer to decide which one to use.

But if we have exchange A with A.BTC and exchange B with B.BTC competing to offer the smallest spread on BTC price, they won't be having shared order books. I guess that, itself is another factor client's might take into consideration.

One other question is: What incentives does an exchange have to offer bitBTC, with shared order books, than issuing their own UIAs? For bitBTC they need to have a huge amount of collateral. That may prove itself challenging for an exchange. Imagine they have 1000 BTC profit. They can create what, 500 BTC? their btc supply will be cut in half. If one costumer wants to deposit BTC on an exchange running on OpenLedger, how can he do that with bitBTC? If no more bitBTCs are created, there's not enough supply.

The exchange can't just create one bitBTC per BTC sent there. So how will one exchange handle that? I think we should have the answers in order to promote shared order books and be ready to help if any wants to join.

If a costumer deposits 100 btc, the exchange can't create 100 bitBTC. It can only create 30-50 right? How will that be handled? Client's won't ever accept their BTC to be temporarily not available..... What's the solution? An exchange already has to have a large pool of bitBTC to keep up with deposits right? Then:

- How can we get an exchange to create such an amount of bitBTC?
- What if costumer's deposits are more than the exchange's reserves of bitBTC?

Could we get around this with some marketing move? Here in Portugal there was an awesome service of movies and tv series streaming, however since so many wanted to join they restricted access, only the ones joining during the first years could access it. Could we do the same? For starters I doubt most would accept it, however,

- That would help us create a brand and distinguish ourselves as a "top" exchange
- We're the safest exchange and have the best services so only a select few could join
- If someone wants to join they would have to pay a fee

That seems to go against the concept of crypto and adoption itself.. It could be both a huge marketing move or a huge marketing failure. Not to mention with time other decentralized exchanges would appear and as the market gets competitive, people will always go for the option which is free and does not restrict it's users. We would need to be at the top of the exchange world to ever consider doing that. However I don't see any other option atm...

Exchanges, even if they don't charge clients, would need to restrict deposits at some point in time. And success could be the cause of this. The more successful it is, more costumers want to join in, which means more deposits, but how can an exchange keep up with all the deposits if each deposit require a 150%-200% collateral?

Can any business in the world even be profitable enough so the profits can compensate for that? Even if that happened, what would be left for the exchange owners? I just don't see an exchange placing 500k in collateral to create bitAssets with the constant need to increase the amount in collateral to have bitBTC and bitAssets. That doesn't seem like an incentive at all. And without that, we cant have shared order books which would be one of the biggest things I've seen.

What will they do then? All use OPENBTC? That's not backed by anything. There's a risk there that the owner of that asset messes up the market. Meaning we're not that trustless.

Quote from: delulo on August 20, 2015, 12:27:20 am

Great find!
Listen at 1.30 min.

Huh? I went to that link and found no audio content there. Perhaps you need to have a twitter account?

@Thom check here https://soundcloud.com/whaleclub-bitcoin/bitfinex-ceo-recording-after-18082015-flash-crash

Quote from: Akado on January 05, 2016, 09:20:07 pm

Decentralized exchange with fiat gateways, prediction markets, bond markets. That would definitely make OpenLedger THE exchange. Not to mention one other awesome thing: every other exchange right there would have even more incentives as they could market themselves as having those same features. Imagine all exchanges having predictions markets. That would be the new trend. Not having new coins, but new awesome features.

However, as awesome as that might seem, I just think it's too much to achieve within a year realistically because there are always problems we aren't expecting, stuff takes time, etc. I mean if this was accomplished, it would be the best year BitShares would have since it's creation. I wish this happens but I'm sceptical of having all of that in such a small time frame.

We might get nano card and ripple/fiat bridges now according to what you said... Then what? 6 months for bond markets and 6 months for prediction markets?

More importantly, who will be developing those features? CNX already showed their roadmap. Obviously subject to vote but still, will you advertise those features so the community votes for them? If you can, which I believe it can happen, who will develop them? CNX will be probably busy or might not have enough man power.

Do you have the devs?

I think first we need to think big, then start working all as a team, and not like separate small profit centres. I mean I dont mind giving away 60% of all the work I will be doing in future promoting and marketing of OpenLedger to all the Lifetime members feeling they all are owners of the platform.

Afterall this is more or less what the LT's should feel like once they have upgraded. Then we have sleeping partners in that bunch, but we have also partners willing to do active work to make a difference.

Dont forget I am not expecting to do all on my own when I say I wish for all of this to happen. I am expecting that all "owners" of OpenLedger whether LT's or OBITS hodlers without LT. We all should should have the same endgoal - to do above expectations always trying to go farther than seemingly possible.

I can only do so much as a one man machine, then it is really up to the rest of the owners to ship in, at least who decide not to be the sleeping partners!!

I understand that and was exactly because of it that I was asking. I don't expect for one single person to manage to do all of that alone. My features wishlist is the same as that one you mentioned, however I don't see CNX working on that any time soon, unfortunately and we're lacking devs. I think if devs were that accessible that we could have found a few more by now, that's why I'm sceptical. 

Quote from: Akado on January 05, 2016, 02:36:47 pm

We might get +1M bts but that's since October. That makes 5 months. Hopefully other businesses compensante and we'll get +200k each month, which, tbh is already pretty good. Didn't expect that much. Most might be from lifetime memberships which might slowly decrease.

I would be disppointed if LT's will decrease, as a lot of the connections I am woking is to increase and not decrease amount. In percetange it might be decreasing but only because user base increases more quick.

Well I only mentioned that because 2.0 being the "new" stuff, people want to check it out, plus past members migrating and updating to Lifetime Membership almost all at the same time (during these couple months) so it's only normal if it dropped.

It can only maintain itself or grow if there are new people coming in the system, because eventually 1.0 members will all migrate and there won't be any old members updating their accounts, meaning you need a new stream of new users for OpenLedger.

But I'll be pretty glad and amazed if you can pull that off! Hope you can! It's (or should be) exponential. The more new users get in, the more will consequently come I guess since word should spread.

Quote from: Akado on January 05, 2016, 02:10:49 pm

Didn't expect OpenLedger to make such profits since October.

Haha that is a case of a obits writer trying to run a busses.

Damn I wish I was a taxing agency...even at 3% tax...the way they calculate their 'revenue' and 'profits' will make the country the richest...in no time.

Just Tony being Tony  hope it becomes the richest then. We'll see how it goes.

2 months no dividends either for banx. I would not bet on them.

I'm not, because it never had the best reputation so to speak... However I thought that with BitShares they could come up with something nice, show transparency and prove people were wrong. Just curious about it.

Qora is the only one I know of. I believe it allows you to have that, at least you could create your own page on their blockchain.

@Tuck Fheman @tuckfheman

Didn't expect OpenLedger to make such profits since October. Does that already include casino and other project's profits ?

In which markets will the buyback be done? OBITS:BTS, OBITS:OPENBTC? Both? If so, what percentage each?

The purpose of this BSIP is to minimize the cost incurred by the network doing unnecessary operations every maitenance interval.

Can that cost be represented in time/money so we have an idea of how this would improve BitShares' blockchain? How much money/time does it save / can it potentially save in the future?