Isn't it possible for the BitShares blockchain to issue an IOU, called something like BLOCKCHAINBTC, that is 100% collateralized by real BTC?
If the blockchain can issue such IOU and lock up the real BTC, then we don't have to worry about Blocktrades.us or Openledger getting Goxed as a Gateway.
Traders can then freely enter and exit the BitShares system without worrying about counterparty risk because the blockchain will not run away with funds like humans do.
Currently, I am having a hard time imagining the BitBTC:BTS market growing efficiently because the only way the supply of BitBTC can grow is when somebody shorts BitBTC. But look. Who will be the first one to short BitBTC in such an illiquid market? It's too risky compared to its reward. There are people who want to buy BitBTC, but there is not enough people that is willing to short BitBTC and match that demand. Hence, the supply of BitBTC will not grow, and trading can't take place.
If blockchain can issue a collateralized IOU, then we don't have to wait for the BitAsset shorters to enter the game. We can quickly build up on the orderbook using the affiliate program.
Let me hear what you think.