RE: Draft BSIP-0023 - Sharedropping an UIA against an external cryptocurrency distribution snapshot
Isn't it a problem for you when Bubba the Noob walks into your store and buys something he thinks is the real thing? In this case Btc. Du you really think bubba will be happy when the btc he got won't pass when he wants to load it in his tenx card?
Of course Bubba will be furious. And he will never walk into your store again.
That's a serious problem. The problem of trust.
This happened to me on the dex. i got something I thought was openBTC. It wasn't. It was one of those lookalikes. One of the 31.
Useless, meaningless, fraudulent. Pick and choose. I couldn't send it anywhere. And I most certainly couldn't buy coffe with it.
Ignoring its existence was impossible. It sat there whatever I tried. I put it for sale and it was for sale for at least 4 months before some unlucky bastard bought it recently.
I felt pretty bad about it, I must admit. The buyer got a real fast btc lookalike, but unfortunately it is so useless, you can't even send it to another exchange. It isn't even active in any of the other trading pairs either.
Bloating the dex with more uselessness degrades the value of my shares. And I am not going to just be a bystander and let the platform flood with overhyped btclookalikes. It degrades the value, it does not add it. Because I want Bubba to feel comfortable buying useful stuff when he enters my store.
I want him to trade, have fun, send it to his friends, to another exchange or top up his tenx if he feels like it. Even buy coffe would be great.
That's the value proposition I want in my store. And even if the uias are faster than the speed of light, it does not fulfill my value proposition to Bubba.
The shortsightedness of the bts community is disturbing sometimes. Look at ark. Another dpos that adds functionality to Ethereum,lisk,btc. Etc. There is something new there all the time. Most of it so advanced, it is way over my head. And when everything is set up, it will be a decentralized exchange built in. They have already made space for it and there is no doubt in my mind that they will bridge all the major chains and in the process build a foundation for the dream dex. Solving real problems.
But in the bitshares camp we fill it up with the worlds fastest junk.