Excerpt from the February 19, 2016 Hangout regarding tonyk's idea

[tonyk]

So... no one is going to consider BM'S very valid concern that essentially this proposal creates a "walled garden" in between Bitshares and the rest of the crypto currency community?

It would completely kill Bitshares imo.  We need bitshares to take advantage of the gateways to the outside world provided by other crypto, not shut them off.


Tonyk's idea was actually a trick to try to get us to destroy bitshares, maybe so he can buy back in at 10% of the price and then try to get the change reverted or something.

Nice conspiracy theory!
And I decided to do this using total community driven way and execution over which I have no control what so ever?
OP of https://bitsharestalk.org/index.php/topic,21558.0.html

No I truly believe it is a very sound way to do it better and hoped BTS itself can do it, but there is such thing as ideas being  too early ...
Next best thing was totally community driven second chain testing the theory independently of BTS.... as there are no sign ups for this community driven effort it is obviously not wanted either.  I have no intention to force it on anybody. The side effect of not trying it as a community at  almost 100% sharedrop for active community, even if you do not contribute a penny... well they should be obvious.

And there is also such a thing as bad idea, I do not see is as such but I am just one man and can be totally wrong.

[Ander]

So... no one is going to consider BM'S very valid concern that essentially this proposal creates a "walled garden" in between Bitshares and the rest of the crypto currency community?

It would completely kill Bitshares imo.  We need bitshares to take advantage of the gateways to the outside world provided by other crypto, not shut them off.


Tonyk's idea was actually a trick to try to get us to destroy bitshares, maybe so he can buy back in at 10% of the price and then try to get the change reverted or something.

[btstip]

Hey fuzzy, here are the results of your tips...

• BitShares News: Insufficient funds for asset 1.3.839

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Source: https://bitsharestalk.org/index.php/topic,21587.msg282146/topicseen.html#msg282146

Created by hybridd

[fuzzy]

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thanks for all you do man!

[BitShares News]

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Oh wow thanks!

[btstip]

Hey chryspano, here are the results of your tips...

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Curious about ShareBits? Visit us at http://sharebits.io and start tipping BTS on https://bitsharestalk.org/ today!

Source: https://bitsharestalk.org/index.php/topic,21587.msg281650/topicseen.html#msg281650

Created by hybridd

[chryspano]

#sharebits "BitShares News" 100 BROWNIE.PTS

[btstip]

Hey Tuck Fheman, here are the results of your tips...

• BitShares News: has been credited 1 SILVERTICKET
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Curious about ShareBits? Visit us at http://sharebits.io and start tipping BTS on https://bitsharestalk.org/ today!

Source: https://bitsharestalk.org/index.php/topic,21587.msg281483/topicseen.html#msg281483

Created by hybridd

[Tuck Fheman]

I love tips!

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[CoinHoarder]

I can later this week.. I have work then another paper due Wed.

Without looking at the proposal... I am in favor of Smartcoins earning interest to increase the utility and demand of them. However, I am uncertain that dilution is the proper way to go about it. I would honestly prefer it be paid out of the fee pool like it was in BTS1.0, but I will read over the proposal.

[tbone]

So... no one is going to consider BM'S very valid concern that essentially this proposal creates a "walled garden" in between Bitshares and the rest of the crypto currency community?

It seems the community is blinded by the perceived benefits without fully discussing the setbacks that come with tony's proposal. I am disappointed in how irrational everyone is being by not even seriously considering the pros AND cons.

@CoinHoarder, tony's idea is DOA for so many reasons, including the concerns raised by BM.  Anyone still taking the idea seriously, especially to the point of forking the code, is tarnishing their reputation among the more rational actors here.  It will be pretty difficult to take those people seriously going forward. 

By the way, will you please take a good, hard look at @Empirical1.2's yield harvesting idea (see link below)?   I think if we combine that idea with either a liquidity pool or marker maker rewards, BitAssets will get a huge boost.  Would be interested in hearing your thoughts, and hopefully you'll support the proposal. 

https://bitsharestalk.org/index.php/topic,21597.0.html

[Brekyrself]

Almost a double edge sword when it comes to liquidity.  BTS on outside exchanges are not being used as collateral to bring market pegged assets into existence.

[CoinHoarder]

So... no one is going to consider BM'S very valid concern that essentially this proposal creates a "walled garden" in between Bitshares and the rest of the crypto currency community?

It seems the community is blinded by the perceived benefits without fully discussing the setbacks that come with tony's proposal. I am disappointed in how irrational everyone is being by not even seriously considering the pros AND cons.

[BitShares News]

Excerpt from the February 19, 2016 Hangout Transcript :

So the next thing I would like to talk about and that people have requested is some feedback on tonyk’s suggestion of making BitShares only tradable on the DEX and forcing exchanges and anyone else to go through either bitAssets or IOU assets. This is a way of saying, let’s make BitShares the exclusive asset that can only trade on our own blockchain.

I think that it’s an interesting idea in that it forces people to use the system and it gets the BitShares off the exchanges. And it adds more liquidity in the market because anyone in or out and speculate on BitShares will now be forced to do so through trading on the BitShares exchange itself.

I find the approach is simultaneously heavy-handed and would greatly disrupt a large number of users. A lot of the liquidity that BitShares has is from speculators who have money on the exchanges such as Poloniex and BTC38, but who are unwilling to provide the same liquidity outside of that environment for the same reason that people don’t move to other exchanges.

Also they have bots that are programmed to use their API on Poloniex and they enjoy the instantaneous transfers of buying and selling between all of the assets on Poloniex and BTC38. So anything we do to restrict BitShares at this point in time is going to have massive short-term impacts on the liquidity of BitShares and liquidity is king. Liquidity of BitShares itself is king as far as providing value and collateral for the bitAssets we’re creating.

- Dan Larimer

Last week's' transcript is a work in progress. Read this or previous transcripts at http://BitSharesNews.info.

Hangout Transcripts are provided to the BitShares Community free of charge, but I love tips! If you'd like to tip this or any transcript you can do so by sending your tips to : bts-transcriptor