BitShares Forum
Main => General Discussion => Topic started by: Akado on October 13, 2015, 12:20:57 am
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On one of the last articles published on forbes, this got me really interested
“Imagine this,” offered Larimer. “Eight of our feisty start-up exchanges pool their services and order books to look effectively as big as a medium-sized, more established exchange. If that medium exchange were to then join these eight, they would double the size of each other’s combined order books and be suddenly competitive with a twice bigger exchange, who might then decide to join the network and double it all again.”
And all the while, the growing network of exchanges has more products and services to offer making them not only bigger but also better than the next exchange on their “friendly upward assimilation warpath”. Larimer further contends: “In this way, we think we can quickly roll up partners to become the biggest virtual exchange in the world. Resistance is futile.” It’s bold and disruptive stuff.
So, what exchanges would you speculate on joining Bitshares next?
I think we might or should get btc38 (maybe even bter) or even smaller exchanges. After those what other exchanges would you predict joining us? btc-e is completely anonymous, they don't add any crypto so it's pretty hard if not impossible, Kraken apparently won't support us, bitstamp and bitfinex seem to big for us. I would place Polo a tier above btc38 but beneath bitstamp and kraken. I think Polo atm would be THE exchange to get. But I don't see them joining us that easily them seem to be quiet busy already.
Do you have any smaller exchanges in mind first? Maybe if we get like more 4 small exchanges we could get bter and btc38 and after that Polo or whatever exchange will be leading the altcoin scene at that time. So, my opinion:
[tier 1]
C-CEX - $11k
CoinMate - 16k
BIT-X - 16k
CAVirtex - 19k
Bter - $20k volume
[tier 2]
The Rock Trading - 50k
Bittrex? $80k volume atm
BitBay - 85k
Cryptsy - 94k
CEX.IO - $110k
bitcoinIndonesia - $144k
HitBTC - $175k
Justcoin - 179k
[tier 3]
Btc38 -$221k
Polo > 426k
[tier 4]
Jubi - $1,6M
btc-e, krake, bitstamp, etc, the big boys. they seem to big atm
I don't think Bitcoin only exchanges will be joining us, at least seeing this page http://coinmarketcap.com/currencies/bitcoin/#markets I don't believe any on the top 10/15 would be joining us any time soon. Cryptsy has a rep for altcoins and since it's involved in some shady stuff, if it joined us, it could bring in quite some volume and clean it's name. Has $94k volume atm
what exchanges do you think would be the easiest? Does anyone have any contact with any of them? If the 4 I mentioned on tier 1 would join we would have +$80k volume enough to compete with bittrex! (+80k) Then we could have crypsy (+90k) by that time we are able to compete with btc38! After that, Polo. After that we have near $1M volume!! That places us with Kraken and competing with the big boys! I know this is wishful thinking but I'm really excited about this whole process
see more here http://coinmarketcap.com/exchanges/volume/24-hour/
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Most of those little ones I havent heard of.
bter and cryptsy are scams now imo.
Btc38 or Polo would be AMAZING news. It snot polo because their mods said in chat that they werent working on that, but I hope we can convince them to join us later on down the road.
A big Bitcoin exchange would be even more incredible news.
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Bter would be logical choice because they got attacked this could change their image.
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Bter would be logical choice because they got attacked this could change their image.
You know, that's true. I hadn't thought of it, because I agree with Ander that both Cryptsy and Bter have become junk. I wouldn't be that excited to partner with them. But the fact is that someone still uses those exchanges, so as long as they are going to operate honestly (a major 'if'), they could always bring that volume here. And maybe re-establish credibility.
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What about Yunbi?
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What about Yunbi?
Yunbi announced they are changing to bts 2.0.
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Bter would be logical choice because they got attacked this could change their image.
You know, that's true. I hadn't thought of it, because I agree with Ander that both Cryptsy and Bter have become junk. I wouldn't be that excited to partner with them. But the fact is that someone still uses those exchanges, so as long as they are going to operate honestly (a major 'if'), they could always bring that volume here. And maybe re-establish credibility.
No bter joining would only be bad PR for bitshares when they manage to screw it up somehow.
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http://www.coindesk.com/blockstream-commercial-sidechain-bitcoin-exchanges/
Bitfinex, BTCC, Kraken are out. Guess other exchanges have now more reasons to join us in order to keep up! Not to mention we're now competing with Blockstream, that could give us some exposure
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http://www.coindesk.com/blockstream-commercial-sidechain-bitcoin-exchanges/
Bitfinex, BTCC, Kraken are out. Guess other exchanges have now more reasons to join us in order to keep up! Not to mention we're now competing with Blockstream, that could give us some exposure
Is this bad news for BTS?
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Is this bad news for BTS?
It did not sound that way to me. It doesn't sound like a transparent decentralized exchange. Seems to be some private protocol that allows the big exchanges to xfer fund amongst themselves faster ....
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Is this bad news for BTS?
It did not sound that way to me. It doesn't sound like a transparent decentralized exchange. Seems to be some private protocol that allows the big exchanges to xfer fund amongst themselves faster ....
i think its good news because it gives one more reason for others to join us
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What about Yunbi?
Yunbi announced they are changing to bts 2.0.
What do you mean changing to bts 2.0?
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What about Yunbi?
Yunbi announced they are changing to bts 2.0.
What do you mean changing to bts 2.0?
Probably meant they are supporting 2.0 and not 1.0 anymore. If Yunbi said it would join OpenLedger we would have probably heard it by now
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I don't think Bitcoin only exchanges will be joining us, ...
Any particular reason? I thought Bitcoin only exchanges would be more amenable to joining as the competition is fierce and they can do on chain trading using BitUSD and BitBTC.
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I don't think Bitcoin only exchanges will be joining us, ...
Any particular reason? I thought Bitcoin only exchanges would be more amenable to joining as the competition is fierce and they can do on chain trading using BitUSD and BitBTC.
They seem to big atm. And if they only manage Bitcoin/Litecoin, they might not like alts, even though we are something completely different. What you said makes sense but most ppl seem to think only bitcoin is fine and discard all the other options. Guess time will tell.
It will only take OpenLedger to get more volume or for 1 or 2 new exchanges to join in I think, the rest will follow eventually or follow a similar path and join a competitor. It's really only a matter of time. The best thing we can do now is bring more volume to OpenLedger
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The poloniex wallet thread is a prime example and use case of what needs to be pitched to these other exchanges along with their user base, for making an intelligent business decision to integrate into the Open Ledger project and not use these other "closed source" side chain hack jobs.
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The poloniex wallet thread is a prime example and use case of what needs to be pitched to these other exchanges along with their user base, for making an intelligent business decision to integrate into the Open Ledger project and not use these other "closed source" side chain hack jobs.
could you be more specific? Are you talking about polo's UI?
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The poloniex wallet thread is a prime example and use case of what needs to be pitched to these other exchanges along with their user base, for making an intelligent business decision to integrate into the Open Ledger project and not use these other "closed source" side chain hack jobs.
could you be more specific? Are you talking about polo's UI?
Sure, the thread I'm referring to is here https://bitsharestalk.org/index.php/topic,19011.0.html
tl;dr
On POLO's website (aka trading page) they were showing they had 25M BTS on the trading books, but their BTS wallet only showed around 12M BTS... so clayop raised a red flag and challenged them to prove POLO was indeed holding a 25M BTS supply as they claimed. In the end, which only took a day I think, POLO showed us their other BTS storage wallets and thus, able to show they DO in fact, actually have those BTS in their possession and everything matched to their exchange stats.
I can attest personally after seeing/reading that, that made me feel WAY more comfortable sending POLO my hard earned money and trade into BTS.
I can't speak for the other crypto's they carry/trade since those coins and their associated wallets aren't open to the public. So who know's without a doubt that those numbers are 100% honest and correct for those other Alts? I'm not accusing POLO of cooking any of their other books; I'm just pointing out flaws in the system (as most of us are already aware of) and we just proved to the financial world (through this current event) that BTS truly can make a difference and protect the end user!!!
Now, just image if ALL those coins along with ALL those exchanges in the world made this change to use Bitshares as their back end... everything can be 100% verified and accounted for. NO funny money, scams or bogus IOU's and can be easily tracked by the end users/investors. Well... until stealth gets implemented LOL.
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The poloniex wallet thread is a prime example and use case of what needs to be pitched to these other exchanges along with their user base, for making an intelligent business decision to integrate into the Open Ledger project and not use these other "closed source" side chain hack jobs.
could you be more specific? Are you talking about polo's UI?
Sure, the thread I'm referring to is here https://bitsharestalk.org/index.php/topic,19011.0.html
tl;dr
On POLO's website (aka trading page) they were showing they had 25M BTS on the trading books, but their BTS wallet only showed around 12M BTS... so clayop raised a red flag and challenged them to prove POLO was indeed holding a 25M BTS supply as they claimed. In the end, which only took a day I think, POLO showed us their other BTS storage wallets and thus, able to show they DO in fact, actually have those BTS in their possession and everything matched to their exchange stats.
I can attest personally after seeing/reading that, that made me feel WAY more comfortable sending POLO my hard earned money and trade into BTS.
I can't speak for the other crypto's they carry/trade since those coins and their associated wallets aren't open to the public. So who know's without a doubt that those numbers are 100% honest and correct for those other Alts? I'm not accusing POLO of cooking any of their other books; I'm just pointing out flaws in the system (as most of us are already aware of) and we just proved to the financial world (through this current event) that BTS truly can make a difference and protect the end user!!!
Now, just image if ALL those coins along with ALL those exchanges in the world made this change to use Bitshares as their back end... everything can be 100% verified and accounted for. NO funny money, scams or bogus IOU's and can be easily tracked by the end users/investors. Well... until stealth gets implemented LOL.
I agree but exchanges running a fractional reserve won't have any interested on joining because they would be exposed. And at the moment people don't seem to care much about it, they just go with the exchange with the most volume, which is unfortunate. If people really cared about their assets they would logically go with the safest solution, which would consequently turn into the exchange with the most volume. But we don't have a good enough UI atm, guess we will have to wait for a better UI, Moonstone or someone else known to join us.
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I'm going out on a limb here to predict that Colombia's Merkabahnk and CriptoBanco Exchange will be the next to join BitShares.
Edit: Oh, darn, they beat me to it! ;)
http://merkabahnk.io/ (http://merkabahnk.io/)
https://bitsharestalk.org/index.php/topic,19256.new.html#new (https://bitsharestalk.org/index.php/topic,19256.new.html#new)
https://www.cryptocoinsnews.com/colombia-gets-first-local-bitcoin-exchange/ (https://www.cryptocoinsnews.com/colombia-gets-first-local-bitcoin-exchange/) (Dated article, but gives you background on who they are)
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I'm going out on a limb here to predict that Colombia's Merkabahnk and CriptoBanco Exchange will be the next to join BitShares.
Edit: Oh, darn, they beat me to it! ;)
http://merkabahnk.io/ (http://merkabahnk.io/)
https://bitsharestalk.org/index.php/topic,19256.new.html#new (https://bitsharestalk.org/index.php/topic,19256.new.html#new)
https://www.cryptocoinsnews.com/colombia-gets-first-local-bitcoin-exchange/ (https://www.cryptocoinsnews.com/colombia-gets-first-local-bitcoin-exchange/) (Dated article, but gives you background on who they are)
Sweet now hopefully colombia's biggest export businees discovers the platform ;D