Quote from: bytemaster on January 27, 2015, 09:40:31 pm

We are going to allow gateways to set a market fee just like they do today on their internal exchange.  This fee will have a rate between 0.000% and 10.000% of every trade.  This will help us get gateways to issue IOUs on our chain because they could keep the SAME business model they have today.

Just to confirm for europeans, that's between 0% and 10%, not 0 and 10000%?

...lol I don't get it. Europeans actually do this?? "." is a decimal, "," is a thousand separator. Why in the Sam hell would you want to use "." as a thousand separator?? What if it was 10,000.5%, would you write 10.000.5%?? How confusing...

This is another feature that will hurt our market cap.

First of all there is no chance of getting an already established exchange to become a fiat gateway within the next 6 months. That would only happen if bitshares were to explode in value and gain attention from everyone, in that case they'll do it with or without these kind of fees. Also since this means that stability is further delayed it serves to reduce the chance of bitshares exploding in value and thus actually reduces the expected amount of fiat gateways.

Secondly it doesn't make sense economically in the long term. Gateways add value by being on and off ramps, the trading and order matching is done by bitshares. They can and will eventually equilibrate at increasing on and off ramp fees to make up for their lost trading fees, but of course gateways will never be able to be as profitable as bitcoin exchanges because we've eaten a part of their market, and there's no way we can change that reality.

This is a neat feature but it should not have high priority.

It should under no circumstances delay 1.0 and should not be introduced as a hard fork during what is supposed to be a stable period.

Focus on getting trading engine into the light client instead.

I agree with you wholeheartedly Rune. BTS absolutely needs stability, and 1.0/light wallets etc were needed yesterday. Seems a bit of a priority shuffle is definitely in order.

Right now is make-it-or-break-it time for BitShares, and time is absolutely of the essence. Break it now, and with the decreased dev funding resulting from the reduced market cap BTS could go into an all-out death spiral...

I'd like to believe that if one of the BTS-arms (Play, Music, etc) is able to catch on, it'd be only natural for BTS to rise with it. I would think it'd be a synergistic effect as people are introduced to the entire ecosystem, as opposed to a direct competitor effect squashing BTS.

...but what do I know, could be wrong.

Anyway, yes, I'd love to see some kind of BitAsset gambling implemented. Would be a perfect catalyst for adoption. And from what I've gathered, Play doesn't seem to have much of any interest in gambling, so why not have BTS fill this all-important niche?

People who gamble are seeking risk. Why would they want to gamble in a pegged asset meant to reduce volatility?

Just ask anyone at a casino. They're gambling with fiat, not some unknown market-price-driven token.

I'm pretty sure the whole Coinbase announcement thingy has pretty much nothing to do with litecoin. It will have something to do with bitcoin, hence the bitcoin flag on the moon.

I imagine the litecoin rise is a hell of a lot simpler -- it got oversold after many weeks of downtrend and now some big players are ready for a pump. Traders gonna trade.

See, the 2 million wall is already gone. Dumped for CNY down to 0.70. No harm done.

It was me.


lol. Nah.


At this point we're pretty much just following the BTC price moves anyway; doesn't really matter how many are dumped/bought at any given time cuz the market ultimately keeps following BTC.

Edit: I see what you mean, the 2,000,000 sell wall at .000053. Yea that just looks stupid. I'm sure it'll either get eaten or pulled if BTC makes another leg up. (Then again, the wall is for bitcoins, not CNY. So I guess a bitcoin run-up will ultimately result in a wash. Unless BTS rises faster than BTC...)

Bottom line: I wouldn't worry about it. Market does what market does.

Hmm...this sounds a lot like a Kickstarter for bitcoin to me. So you basically just donate your bitcoin toward development efforts? I'm pretty sure our system that doesn't require anyone to directly donate is fairly superior...

...sorry anycoin, there's no envy or fear involved at all. It's just my humble opinion that paycoin is nothing more than a scam. I call it like I see it. Time will tell the real story. I dont think bitcoiners are afraid of it at all either...

"Business plan"...lol