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General Discussion / Re: The Bitshares blockchain as the first public sidechain for Bitcoin
« on: March 02, 2016, 02:42:36 pm »Obviously we should be pushing to get a sidechain implementation going ASAP. But I think we're dramatically overcomplicating it in this thread and should probably leave the precise details to the devs (primarily @bytemaster).
Beyond that, I think we should be concentrating on pushing to incentivize a) creation of the primary fiat BitAssets and b) participation in BitAsset liquidity pools, among other liquidity measures.
Speaking of liquidity, I think we should be doing what we can to establish robust markets in any new cryptocurrencies that hit the market. The Lisk ICO will go for another 3 weeks and then it will launch and trade on the open market. I'll probably say this until I'm blue in the face. But we should make sure we are among the first exchanges (if not THE first) to trade Lisk. That would generate plenty of buzz and new users for the DEX.
We really need to get serious about making some of these pieces of the puzzle come together.
@bytemaster solution is just a bitcoin master wallet where the witnesses share the private keys and issue IOU tokens much like OPEN.BTC minus the multisig
Can we keep on topic with this thread. Please start a new thread if you want to discuss adding lisk.
I don't know the details of bytemaster's solution. What are the pitfalls of it? Sounds like a straightforward solution: bring bitcoin in one-way via sidechain, treat it as a token to trade inside bitshares, redeem via a convert to BTS then to shapeshift.