Paid-delegates is genius

[xeroc]

Personally I would still not like to see exchanges to vote with stake from their customers though. Accordingly I will hold most of my stake off exchange and can just encourage others to do the same.

I agree with this!

we have no power over what exchanges do and what they don't but they should at least inform their costumers THAT they are voting in their behalf and who they are voting for and why .. this IS getting political!

[Rune]

We don't need big exchanges. BTS should and will only be traded on the internal market and all on-ramps will be in bitassets. This would mean that points of exchange will be able to function at full effectiveness with almost no volume, and we would finally get rid of the problem of goxing, trusting a third party with your savings, manipulation, willy bot etc. It means our on-ramps will be small operations, but spread out all over the place. The feeds will function by averaging the precision of the pegs of the respective bitasset on-ramps and using the average as a multiplier to move the feed price based on the market rate of the internal market.

[speedy]

Yes a big exchange can vote themselves in whether the community likes it or not.

Might as well benefit from this.

[Frodo]

You mean we should actively communicate to big exchanges that the BTS community may choose to vote them into a delegate spot if they run as a delegate and add BTS to their exchange?  That could be a great way of getting on big exchanges... Though no one can guarantee them a delegate spot, or for how long.

As I understood it he meant that exchanges could vote themselves in. (with deposited stake from users)
As we can't prevent this we might just openly communicate it for adoption purposes.

Personally I would still not like to see exchanges to vote with stake from their customers though. Accordingly I will hold most of my stake off exchange and can just encourage others to do the same.

[matt608]

You mean we should actively communicate to big exchanges that the BTS community may choose to vote them into a delegate spot if they run as a delegate and add BTS to their exchange?  That could be a great way of getting on big exchanges... Though no one can guarantee them a delegate spot, or for how long.

[speedy]

I know - controversial statement.

So as I was dreaming about BitShares at work today, I started to worry about all those exchanges that would vote themselves as paid delegates thereby freeloading off the network without contributing anything in return.

Then I realized that this is could be a great way to incentive more exchanges to actually provide BTS. According to CMC, there still isnt a non-Chinese exchange with greater than 1% of the BTS trading volume.

We could actively reach out to the big non-Chinese exchanges and explain to them how they will get an immediate reward for adding BTS. Im thinking of Cryptsy etc.