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BitShares PTS / Distributions from Exchanges
« on: December 29, 2013, 09:20:49 pm »
Seems to me like the exchanges have a poor understanding of the ProtoShares distribution model.
https://twitter.com/cryptsy/statuses/416991129268019200
That's understandable as we haven't provided much information about this, let alone a detailed guide on how to proceed.
My view is that exchanges should regard the distribution as the property of their users and pass it on. However, we have to recognize this comes at a cost to the exchange. This cost may not even be met by the value of the distribution and the exchange may not wish to add the new distribution unit to their exchange.
That said, I think these distributions will become increasingly used so exchanges will need to formulate a policy in dealing with them. For now, the best thing to do is to hold coins off-exchange, especially at the time of an announced distribution.
https://twitter.com/cryptsy/statuses/416991129268019200
That's understandable as we haven't provided much information about this, let alone a detailed guide on how to proceed.
My view is that exchanges should regard the distribution as the property of their users and pass it on. However, we have to recognize this comes at a cost to the exchange. This cost may not even be met by the value of the distribution and the exchange may not wish to add the new distribution unit to their exchange.
That said, I think these distributions will become increasingly used so exchanges will need to formulate a policy in dealing with them. For now, the best thing to do is to hold coins off-exchange, especially at the time of an announced distribution.