Author Topic: How would an altcoin migrate to bitshares ?  (Read 1730 times)

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Offline BunkerChainLabs-DataSecurityNode

Well.. the alts need to have exchanges too... they are at the mercy of the centralized exchanges now.. what if they could have the power of a decentralized exchange backing them? Seems like it would be a win. The question becomes how that gets implemented here.

This would mean they keep their 'unique' features and continue to have all the fun in that... while having a foot in the door in our network.

How should we implement this? One of the exchanges using the bts network (ccedk and soon bunkerdex) could setup pairs for their coin and when people deposit the IOU counterpart is kept in the DEX. trade away, and when they want to move it to their wallets they go out the same way and that exchange uses the balance they have on hand to trade with.

Another way.. and this is something I have been considering.. is to burn the alt. By coming to the DEX any coins that get deposited to us are immediately burned in exchange for the IOU and thus reduce supply on their coin.. which would be good for them. Their coins are safer here than out there so they should opt to keep them here and trade here.. but if they exit, our exchange would then buy from a central one to fill the order and send it to their wallet. They pay that price at the time of exit via a spread.

I'm kinda liking this burning idea because its going to help the other coins while give them a supporting reason to want to have trading here.

This is how I envision bringing the alt coins to bitshares... nevermind what we think of their ultimate demise... everyone benefits this way.
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Offline fav

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Who would benefit from the migration? Who uses these coins and for what? What's in the migration for them?
If these coins have some unique features on their blockchains that they want to keep, they wouldn't propably benefit much from migration because they'd lose the features.

 +5%
Very true. Those altcoins meaningless in the grand picture.

they could implement their features to bitshares and we all would benefit from it. much like supernet for example.

jakub

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Who would benefit from the migration? Who uses these coins and for what? What's in the migration for them?
If these coins have some unique features on their blockchains that they want to keep, they wouldn't propably benefit much from migration because they'd lose the features.

 +5%
Very true. Those altcoins meaningless in the grand picture.

Offline Samupaha

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Who would benefit from the migration? Who uses these coins and for what? What's in the migration for them?

If these coins have some unique features on their blockchains that they want to keep, they wouldn't propably benefit much from migration because they'd lose the features.

Offline logxing

hmm...
first, you must make the price up :)
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Offline bitacer

There are few POS altcoins that I really like but not got involved just because they are designed with the  traditional understanding of money in mind. I wonder if they can be convinced to migrate to bitshares and what would be the exact procedure they should follow ? Any ideas ?
« Last Edit: November 04, 2015, 11:20:31 am by bitsacer »