BitShares Forum
Main => General Discussion => Topic started by: kenCode on May 23, 2015, 07:33:34 am
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I am working with ShapeShift, we should have bitCNY added by May 30th:
https://shapeshift.io
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Good stuff. Did you have to pay for the listing
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Not this time 8)
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Another asset for them to charge ridiculous trading fees.
We should try to market our internal gateways in my opinion.
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Another asset for them to charge ridiculous trading fees.
We should try to market our internal gateways in my opinion.
But more people use Shapeshift, use it or not it's always good to have it there.
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I agree... the more the better ;) Good job Ken
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Good stuff. Did you have to pay for the listing
How much did they charge the last time ?
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Cool ken, well done:)
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Hey Ken,
So we were discussing this and we ran into a problem...
In order to integrate bitCNY, we'd need to integrate with the BitShares Asset Exchange. The problem, however, is that all the assets there are traded only against bitshares. There is no BTC/bitCNY pair, for example.
This means that if someone is using ShapeShift to convert Litecoin to bitCNY, THREE trades have to occur:
- LTC to BTC
- BTC to BTS
- BTS to bitCNY
Due to slippage/depth issues, the ultimate rate the user gets would be pretty dismal.
Is there an easy solution we're not thinking of?
-Erik Voorhees
CEO
ShapeShift.io
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There is no BTC/bitCNY pair, for example.
There is, there's just not enough people using it. Shapeshift could help to become a liquidity provider through becoming a market maker on the pair. I agree that programatically this may involve selling on the BTS market but eventually more people will use it on its own. BitUSD:BTC etc are going to be amazing when they have more liquidity but to start with it needs to be easy to enter and exit the BTS pairs.
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There is no BTC/bitCNY pair, for example.
There is, there's just not enough people using it. Shapeshift could help to become a liquidity provider through becoming a market maker on the pair. I agree that programatically this may involve selling on the BTS market but eventually more people will use it on its own. BitUSD:BTC etc are going to be amazing when they have more liquidity but to start with it needs to be easy to enter and exit the BTS pairs.
Actually, it is bitBTC/bitCNY in internal market, but in ShapeShift it is realBTC/bitCNY.
I think for realBTC/bitCNY, they just need to do what metaexchange have already done.
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Ok guys, so exactly what should I say in my email reply to Erik?
Please and Thanx :)
-ken
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Ok guys, so exactly what should I say in my email reply to Erik?
Please and Thanx :)
-ken
Ask him to join us in a hangout to talk about what they do and why they like bitAssets. :)
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metaexchange.info has this pair -- real BTC to bitCNY -- https://metaexchange.info/markets/bitCNY/BTC -- and we have a working API shapeshift can use.
monsterer is working to give metaexchange a orderbook and the possiblity to act like an "normal" exchange. So if shapeshift don't want to hold BTS they can use us.
In the future:
1. we will provide to every bitAsset a bridge into Bitcoin
2. we will integrate major Altcoins too!
Maybe this will save shapeshift work and they are reaching far more people then we can.
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metaexchange.info has this pair -- real BTC to bitCNY -- https://metaexchange.info/markets/bitCNY/BTC -- and we have a working API shapeshift can use.
monsterer is working to give metaexchange a orderbook and the possiblity to act like an "normal" exchange. So if shapeshift don't want to hold BTS say can use us.
In the future:
1. we will provide to every bitAsset a bridge into Bitcoin
2. we will integrate major Altcoins too!
Maybe this will save shapeshift work and they are reaching far more people then we can.
+5%
@kenCode: I think this problem is over-thought. What ShapeShift really need to do is a gateway service, just like metaexchange. So use the metaexchange API is the simplest and fastest way to achieve it.
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my reply to Erik...
Hi Erik, thanx for the quick replies!
We have a solid API that you guys can start using if you'd like:
https://metaexchange.info/apiDocs
example: https://metaexchange.info/markets/bitCNY/BTC
An orderbook on MetaExchange, bridges for every BitAsset and major altcoins are nearing completion too.
So, if ShapeShift doesn't want to hold any BTS, you can always connect to the ME api (above).
You guys do have bitUSD (a BitAsset of the BitShares DAC) listed already, you might want to just switch that one over as well. It would alleviate a lot of integration time by using our api.
Let me know what you think about that...
Thanx again Erik, chat soon :)
-ken
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my reply to Erik...
Hi Erik, thanx for the quick replies!
We have a solid API that you guys can start using if you'd like:
https://metaexchange.info/apiDocs
example: https://metaexchange.info/markets/bitCNY/BTC
An orderbook on MetaExchange, bridges for every BitAsset and major altcoins are nearing completion too.
So, if ShapeShift doesn't want to hold any BTS, you can always connect to the ME api (above).
You guys do have bitUSD (a BitAsset of the BitShares DAC) listed already, you might want to just switch that one over as well. It would alleviate a lot of integration time by using our api.
Let me know what you think about that...
Thanx again Erik, chat soon :)
-ken
i just realized - one problem they will have is that they convert BTC direct into bitCNY and we have to wait for 1 confirmation, so it will not work with their "instant" solution. If they really want to connect with us and this would be a problem, send them to monsterer to work something out to help them.
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Will do. I'll keep you guys abreast of what we discuss.
Thanx for the help Shentist! :)
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This is good stuff too; Shapeshift integrates with more and more companies, which in turn gives more people access to our products as well:
http://cointelegraph.com/news/114479/how-to-avoid-fiat-entirely-when-buying-gold-altcoins
Erik and Jon are extremely busy (as you can see), but bitCNY is still in the queue 8)
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Another asset for them to charge ridiculous trading fees.
We should try to market our internal gateways in my opinion.
This is like your comment that we shouldn't integrate with Cryptsy because you think they're shady. I disagree.
Promoting the internal exchange is of course a priority & most centralised exchanges will fail over time, but BitAssets need to gain first mover advantage and integration with as much of the existing crypto-sphere as possible. This both establishes BitAssets in the market and creates a significant barrier to entry to newcomers which in a largely open source world, is priceless.
Ken, I think you're doing a great job, but I'm surprised one of the core developers doesn't handle the correspondence with Erik.
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Ken, I think you're doing a great job, but I'm surprised one of the core developers doesn't handle the correspondence with Erik.
Why?
Let them code, it's what the shareholders are paying them for.
We as community members do not have the same constraints as the core devs. If some of us have contacts or are able to send an email to start up BitShares relationships with other businesses then that should absolutely be encouraged.
BitShares will grow if it's members make it grow. I think expecting the devs to handle everything gives too large an advantage to another motivated crypto community.
All shareholders share a profit-incentive for spreading the BitShares tendrils into as many markets and relationships as possible.
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Ken, I think you're doing a great job, but I'm surprised one of the core developers doesn't handle the correspondence with Erik.
Why?
Let them code, it's what the shareholders are paying them for.
We as community members do not have the same constraints as the core devs. If some of us have contacts or are able to send an email to start up BitShares relationships with other businesses then that should absolutely be encouraged.
BitShares will grow if it's members make it grow. I think expecting the devs to handle everything gives too large an advantage to another motivated crypto community.
All shareholders share a profit-incentive for spreading the BitShares tendrils into as many markets and relationships as possible.
There are hundreds of coins with thousands of shareholders all looking to promote their interests & exchange CEO's can't be expected to deal with all of them. Erik Vorhees specifically is often cited as one of the top 20 most influential people in Crypto & ShapeShift is one of the most advertised and rapidly growing exchanges. When Erik has personally taken the time to discuss further BitAsset integration & is asking technical questions he should be getting a response from someone on the core development team imo. It's often not what you know but who you know & in a very Bitcoin-centric world, the opportunity to forge 1 on 1 relationships with some of the most influential people in this space shouldn't be missed.
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Thanx guys, it's ok, Erik is working like crazy with Jon and Emily on this.
Our plan right now is use of the MetaExchange api so our core devs don't have to be bothered.
I only email Vikram, pc, BM etc if I absolutely have to (sorry I didn't name everybody). I'd prefer those guys just keep their nose to the grindstone and not be bothered much with these outside forces. Shapeshift gets tons of exposure, that trickles down to us, either way. I use MetaExchange almost daily, but I want us to leverage their exposure as well.
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Good job ken!
The Wolf of Bitshares!