Thanx Ben
I've been chatting with the CEO of bitkoyin.com too and we're setting up his Exchange in Turkey. I'm helping him (with xeroc's awesome docs of course) share his orderbooks with the Bitshares network as well.
One by one guys, little by little.
They will only have shared order books if they use OPENBTC. Otherwise if they create a new IOU it will be useless
They CAN'T use OPENBTC, since they cannot ISSUE new OPENBTC .. Those are IOUs of OpenLedger.
Either they create new IOUs or they trade bitBTC:BTC directly (which is way more difficult with current supply)
Then what's the point of joining OpenLedger? Can't Ronny issue that for them in exchange for BTC or something?
If each exchang create new IOUs this whole shared order books isn't happening, defeating the very purpose of OpenLedger. bitAssets aren't an option due to supply and collateral needed. Not atm. This means we will have a bunch of illiquid assets and having the most exciting thing I've seen in a BitShares article go to waste:
“Imagine this,” offered Larimer. “Eight of our feisty start-up exchanges pool their services and order books to look effectively as big as a medium-sized, more established exchange. If that medium exchange were to then join these eight, they would double the size of each other’s combined order books and be suddenly competitive with a twice bigger exchange, who might then decide to join the network and double it all again.”
And all the while, the growing network of exchanges has more products and services to offer making them not only bigger but also better than the next exchange on their “friendly upward assimilation warpath”. Larimer further contends: “In this way, we think we can quickly roll up partners to become the biggest virtual exchange in the world. Resistance is futile.” It’s bold and disruptive stuff.That won't let OpenLedger grow. Exchanges will see no reason to join OpenLedger. Users won't see any reason to join OpenLedger if liquidity doesn't increase. Which it won't since we will have multiple illiquid assets.