Author Topic: BitShares Viewed as an Inter-Exchange Network  (Read 2163 times)

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Offline Stan

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BitShares Viewed as an Inter-Exchange Network
« on: June 15, 2015, 08:22:53 pm »
Now that you've had time to absorb all the cool new features in BitShares 2.0, its time to start unveiling some of the implications about what is possible.

In this post, I'll lay out one of them.

The BitShares blockchain can serve as a backbone
to support live trading between traditional exchanges. 

That's right, while we have been thinking of BitShares as a stand-alone exchange, imagine how traditional exchanges could choose to view it:
Now, instead of having separate shallow markets inside their own stovepipe order books, they can use BitShares to enable all their customers to trade all their assets with the customers and assets of other exchanges.  Small exchanges can band together to attract medium exchanges to join them to compete with still bigger exchanges.  Like a rolling stone.

This greatly expands the network effect, liquidity and market depth of all participants.  A bigger pie for everyone.

And with our new referral system,  every participating exchange keeps their own profits from signing up their own customers and issuing their own assets.

We have the perfect way for them to safely compete and cooperate on a single, compelling, transparent exchange network.

The BitShares Exchange Network.

So, exchanges can do more than just serve as gateways and bridges.
They can publish their own order books transparently on our blockchain.

So everyone can KNOW that they are honest and solvent.

And every customer holds the keys to their own assets, fully decentralized where they won't be such juicy targets for hackers.
With easy to use multi-sig accounts to make those decentralized accounts even more secure.

BitShares 2.0 has the industrial strength to handle the workload of all crypto exchanges combined.
It is the perfect application to serve as an inter exchange networking back bone.
(Almost like we planned it that way.)

This is just one of the huge new markets that Cryptonomex is working to capture.

And it is called the BitShares Exchange Network for a reason.  :)







Anything said on these forums does not constitute an intent to create a legal obligation or contract of any kind.   These are merely my opinions which I reserve the right to change at any time.

sumantso

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Re: BitShares Viewed as an Inter-Exchange Network
« Reply #1 on: June 15, 2015, 11:51:02 pm »
Will these exchanges be telling their customers to pay extra for deposit to take into account the lopsided nature of BitAssets 2.0?

Offline BunkerChainLabs-DataSecurityNode

Re: BitShares Viewed as an Inter-Exchange Network
« Reply #2 on: June 16, 2015, 04:19:36 am »
This is awesome!!

This is a huge game changer!

I am looking forward to part two!

 +5%
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Tuck Fheman

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Re: BitShares Viewed as an Inter-Exchange Network
« Reply #3 on: June 16, 2015, 06:08:08 am »
Sounds great. I'm eager to see the if the medium exchanges share your optimism with this approach.

It could be great for them, but do they want it?

Freedom's great for everyone, but not everyone wants it. In fact, the majority appear to enjoy some form of ... bah, I'll leave that for another thread.

Offline cgafeng

Re: BitShares Viewed as an Inter-Exchange Network
« Reply #4 on: June 16, 2015, 07:12:48 am »
After bts launch 1 year, still no business partner, nothing change.
BTC:1EYwcZ9cYVj6C9LMLafdcjK9wicVMDV376

Offline cass

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Re: BitShares Viewed as an Inter-Exchange Network
« Reply #5 on: June 16, 2015, 08:01:12 am »
After bts launch 1 year, still no business partner, nothing change.

Could you pls elaborate your statement?
█║▌║║█  - - -  The quieter you become, the more you are able to hear  - - -  █║▌║║█

Offline cgafeng

Re: BitShares Viewed as an Inter-Exchange Network
« Reply #6 on: June 16, 2015, 08:19:05 am »
After bts launch 1 year, still no business partner, nothing change.

Could you pls elaborate your statement?

BTS system just a tool, if nobody use it, then it's useless, no matter how much it can do.
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Offline Stan

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Re: BitShares Viewed as an Inter-Exchange Network
« Reply #7 on: June 16, 2015, 12:00:00 pm »
After bts launch 1 year, still no business partner, nothing change.

Well, "History is gonna change!"

CCEDK to Publish its Order Book on the BitShares Blockchain
Anything said on these forums does not constitute an intent to create a legal obligation or contract of any kind.   These are merely my opinions which I reserve the right to change at any time.

Offline xeroc

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Re: BitShares Viewed as an Inter-Exchange Network
« Reply #8 on: June 16, 2015, 01:14:28 pm »
+5% !! Nice elevator pitch for the bitshares tech
Give BitShares a try! Use the http://testnet.bitshares.eu provided by http://bitshares.eu powered by ChainSquad GmbH

Offline monsterer

Re: BitShares Viewed as an Inter-Exchange Network
« Reply #9 on: June 16, 2015, 01:51:19 pm »
What is the benefit for an exchange to drop all their legacy technology in favour of becoming a gateway? Where do they earn revenue in this new model?
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Offline btswildpig

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Re: BitShares Viewed as an Inter-Exchange Network
« Reply #10 on: June 16, 2015, 01:53:41 pm »
What is the benefit for an exchange to drop all their legacy technology in favour of becoming a gateway? Where do they earn revenue in this new model?

you can set fees for your IOU (trading , transfer fee  , in the form of IOU)
这个是私人账号,表达的一切言论均不代表任何团队和任何人。This is my personal account , anything I said with this account will be my opinion alone and has nothing to do with any group.

Offline xeroc

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Re: BitShares Viewed as an Inter-Exchange Network
« Reply #11 on: June 16, 2015, 02:09:57 pm »
What is the benefit for an exchange to drop all their legacy technology in favour of becoming a gateway? Where do they earn revenue in this new model?

you can set fees for your IOU (trading , transfer fee  , in the form of IOU)
And you can darstically reduce costs
for severs, development, maintanance, security stuff .. audits ...
Give BitShares a try! Use the http://testnet.bitshares.eu provided by http://bitshares.eu powered by ChainSquad GmbH

Offline Method-X

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Re: BitShares Viewed as an Inter-Exchange Network
« Reply #12 on: June 16, 2015, 02:16:04 pm »
What is the benefit for an exchange to drop all their legacy technology in favour of becoming a gateway? Where do they earn revenue in this new model?

you can set fees for your IOU (trading , transfer fee  , in the form of IOU)
And you can darstically reduce costs
for severs, development, maintanance, security stuff .. audits ...

 +5% This. Security in particular.

Offline BunkerChainLabs-DataSecurityNode

Re: BitShares Viewed as an Inter-Exchange Network
« Reply #13 on: June 16, 2015, 04:29:43 pm »
This means an end to 'getting goxed'.

Every investor in the crypto space when they realize this, are going to pee themselves a little.
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Offline monsterer

Re: BitShares Viewed as an Inter-Exchange Network
« Reply #14 on: June 16, 2015, 05:17:31 pm »
you can set fees for your IOU (trading , transfer fee  , in the form of IOU)

Yes, but exchanges can already handle all that stuff internally. There must be something else there besides all the marginal points about security and development time - you can imagine that exchanges are heavily invested in their legacy architectures, both in terms of man hours and the level of control it affords them.
My opinions do not represent those of metaexchange unless explicitly stated.
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Offline bytemaster

Re: BitShares Viewed as an Inter-Exchange Network
« Reply #15 on: June 16, 2015, 06:46:56 pm »
you can set fees for your IOU (trading , transfer fee  , in the form of IOU)

Yes, but exchanges can already handle all that stuff internally. There must be something else there besides all the marginal points about security and development time - you can imagine that exchanges are heavily invested in their legacy architectures, both in terms of man hours and the level of control it affords them.

They also have recurring costs and support costs. 
For the latest updates checkout my blog: http://bytemaster.bitshares.org
Anything said on these forums does not constitute an intent to create a legal obligation or contract between myself and anyone else.   These are merely my opinions and I reserve the right to change them at any time.

Offline topcandle

Re: BitShares Viewed as an Inter-Exchange Network
« Reply #16 on: June 16, 2015, 06:51:53 pm »
Smells like a similar resurrection of Buttercoin.
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Offline sudo

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Re: BitShares Viewed as an Inter-Exchange Network
« Reply #17 on: June 17, 2015, 01:18:57 am »
awesome

Offline rgcrypto

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Re: BitShares Viewed as an Inter-Exchange Network
« Reply #18 on: June 17, 2015, 01:44:40 am »
network effect here we come

Offline mike623317

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Re: BitShares Viewed as an Inter-Exchange Network
« Reply #19 on: June 20, 2015, 01:33:47 am »
... they can use BitShares to enable all their customers to trade all their assets with the customers and assets of other exchanges.  Small exchanges can band together to attract medium exchanges to join them to compete with still bigger exchanges.  Like a rolling stone.

 +5% +5% I can absolutely see smaller exchanges doing this. Security and others costs would be eliminated overnight. Why wouldn't you do this is the question.

This just keeps getting better and better.

Offline Stan

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Re: BitShares Viewed as an Inter-Exchange Network
« Reply #20 on: June 20, 2015, 02:53:27 am »
... they can use BitShares to enable all their customers to trade all their assets with the customers and assets of other exchanges.  Small exchanges can band together to attract medium exchanges to join them to compete with still bigger exchanges.  Like a rolling stone.

 +5% +5% I can absolutely see smaller exchanges doing this. Security and others costs would be eliminated overnight. Why wouldn't you do this is the question.

This just keeps getting better and better.

Very good.  We describe this as "an exchange in a box".  Everything you need to become an exchange and interact with other exchanges.  So instantly, overnight, you can become a contender.  Then focus on what unique demographics and innovative services you can bring to the BitShares Exchange Network.

This should have a big multiplying factor because new entrepreneurs are immediately putting their energy toward advancing the services available to the network rather than re-inventing the wheel.

BitShares 2.0 has just blown away all barriers to entry - so you should see a much faster rate of growth and innovation among BitShares Exchange Network Members. 

Who will be next to join?
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Offline cylonmaker2053

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Re: BitShares Viewed as an Inter-Exchange Network
« Reply #21 on: June 20, 2015, 02:55:37 am »

Offline mike623317

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Re: BitShares Viewed as an Inter-Exchange Network
« Reply #22 on: June 20, 2015, 03:18:06 am »
... they can use BitShares to enable all their customers to trade all their assets with the customers and assets of other exchanges.  Small exchanges can band together to attract medium exchanges to join them to compete with still bigger exchanges.  Like a rolling stone.

 +5% +5% I can absolutely see smaller exchanges doing this. Security and others costs would be eliminated overnight. Why wouldn't you do this is the question.

This just keeps getting better and better.

Very good.  We describe this as "an exchange in a box".  Everything you need to become an exchange and interact with other exchanges.  So instantly, overnight, you can become a contender.  Then focus on what unique demographics and innovative services you can bring to the BitShares Exchange Network.

Who will be next?

That'll be me Stan