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General Discussion / Re: Why BitShares is being delisted from Bittrex?
« on: October 05, 2017, 11:48:06 pm »
Thanks Stan for chiming in.
How did Bitshares fare when you assessed yourselves against the Coinbase "Securities Law Framework for Blockchain Tokens"
https://docs.google.com/spreadsheets/d/1QxOV2dgxO3C_TyVE0-41ZwLlzPmB-EE1NNshJGuedCU/edit#gid=0
https://www.coinbase.com/legal/securities-law-framework.pdf
Its been stated that Bitshares is not a security and does not fit this criteria. It would be helpful and more clear if someone could check off the point scale in the framework so folks are clear on the characteristics of how Bitshare is not a security.
Some have also raised concerns about the name being misleading and potentially attracting scrutiny because of its resemblance to security "shares".
Your thoughts?
Bittrex has also provided their policy for why they may delist coins. https://support.bittrex.com/hc/en-us/articles/202583874?input_string=delisting+of+bts-btc.
They state:
"We look for coins that have high community demand, innovations to crypto-currency technology, or a contribution to science and humanity. We believe in aggressively taking chances on coins and letting the free market sort out which coins should thrive.
Bittrex reserves the right to keep or remove any market from its exchange.
Markets which are more eligible for removal include but are not limited to:
- Markets with less than 0.5 BTC (or equivalent) of average daily volume over a 7 day period and have been on Bittrex for 4 weeks or more.
- Markets that consistency dip below the minimum volume requirement.
- Markets with 0 daily volume.
- Markets with low liquidity. Less that 15 BTC on the Buy side of the order book for Bitcoin markets.
- Coins with no developer support or public developments.
- Coins without working blockchains.
- Coins which do not adhere to their target block times.
- Coins with weak blockchain security. e.g. Low hash rates which can be exploited.
- Coins which violate our policies.
- Coins which have compliance issues."
I don't think Bitshares falls into any of these categories except perhaps compliance.
Thoughts Stan?
How did Bitshares fare when you assessed yourselves against the Coinbase "Securities Law Framework for Blockchain Tokens"
https://docs.google.com/spreadsheets/d/1QxOV2dgxO3C_TyVE0-41ZwLlzPmB-EE1NNshJGuedCU/edit#gid=0
https://www.coinbase.com/legal/securities-law-framework.pdf
Its been stated that Bitshares is not a security and does not fit this criteria. It would be helpful and more clear if someone could check off the point scale in the framework so folks are clear on the characteristics of how Bitshare is not a security.
Some have also raised concerns about the name being misleading and potentially attracting scrutiny because of its resemblance to security "shares".
Your thoughts?
Bittrex has also provided their policy for why they may delist coins. https://support.bittrex.com/hc/en-us/articles/202583874?input_string=delisting+of+bts-btc.
They state:
"We look for coins that have high community demand, innovations to crypto-currency technology, or a contribution to science and humanity. We believe in aggressively taking chances on coins and letting the free market sort out which coins should thrive.
Bittrex reserves the right to keep or remove any market from its exchange.
Markets which are more eligible for removal include but are not limited to:
- Markets with less than 0.5 BTC (or equivalent) of average daily volume over a 7 day period and have been on Bittrex for 4 weeks or more.
- Markets that consistency dip below the minimum volume requirement.
- Markets with 0 daily volume.
- Markets with low liquidity. Less that 15 BTC on the Buy side of the order book for Bitcoin markets.
- Coins with no developer support or public developments.
- Coins without working blockchains.
- Coins which do not adhere to their target block times.
- Coins with weak blockchain security. e.g. Low hash rates which can be exploited.
- Coins which violate our policies.
- Coins which have compliance issues."
I don't think Bitshares falls into any of these categories except perhaps compliance.
Thoughts Stan?
