Author Topic: exchange is a big bomb!  (Read 7762 times)

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Offline carpet ride

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We should have BitUSD and bitCNY volume registering under BitShares on CMC as well as under the BitAssets


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Offline arhag

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and BTC38 have do nothing to prove their balance is true.
so this is a very big bug!
exchange can control the price very easy, I will not surprise even BTS down to zero.

You know which exchange we actually can trust to be honest? The BitShares decentralized exchange.  :)

It may be too soon, but my hope is that we can have the vast majority of BTS trading volume happen on the BitShares DEX in the near future. We likely need secure lightweight/web wallets with exchange support before that can happen though. We also need a multisig protected BTC gateway UIA. @dannotestein, what will it take to get TRADE.BTC protected by multisig (on both BTC reserve side and TRADE.BTC UIA side) in a easy-to-deploy solution that can be utilized by some subset of the delegates? I think the money-making part should be left to the bridge service and that the gateway should be more of a public good for the BTS community (it should still be profitable to operate though) which means making this easy-to-deploy software solution open source and allowing a subset of the delegates operate it with low profit margins.

Offline cube

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Well, every one of us could remove 100% of our BTS from all the exchanges, and see what happens.   (And it could greatly increase voting as well and make the network more secure).
..

Almost all my BTS is now off of exchanges, only small trading positions left.

I second that.  The Bter hack is a reminder to us that we should not take chances. Your money is safer in your own wallet.

now, almost all BTS trades at BTC38
..
so please make BTS to more exchange especially out of China , and push exchange to prove they are trusted.
this is a very emergency  task!

We do need to spread the trades to other exchanges. Poloniex seems good and reliable.
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Offline alt

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Totally agreed. Why don't we trade on BTS:BitUSD / BTS:BitCNY markets?
it's the best market, but it's not enough, there is not enough volume for BITUSD and BITCNY.
we still need fiat gateway for iou USD,CNY....

Offline clayop

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Totally agreed. Why don't we trade on BTS:BitUSD / BTS:BitCNY markets?
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Offline Ander

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Well, every one of us could remove 100% of our BTS from all the exchanges, and see what happens.   (And it could greatly increase voting as well and make the network more secure).

I agree that some proof that exchanges are not running on a fractional reserve would be very good.  The weirdness and quantity of dumping on bter right before they went down was pretty suspicious, and I was extremely worried when they came back up but didnt allow withdrawals. 


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Offline bluebit

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I already sold all my BTS, doesn't look good.
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Offline alt

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now, almost all BTS trades at BTC38
and BTC38 have do nothing to prove their balance is true.
so this is a very big bug!
exchange can control the price very easy, I will not surprise even BTS down to zero.

so please make BTS to more exchange especially out of China , and push exchange to prove they are trusted.
this is a very emergency  task!