RE: Stan Larimer answers your questions tonight on Blue Rock Talk ~ BE THERE!!

[bellick4]

these are pretty simple questions that bitshares documentation can answer
1 - about the peg, read about black swan and global settlement
2 - openledger is just a gateway for bitshares, same as rudex, criptobridge, etc . What this means is, its basically the same exchange, just a different ui and a gateway to withdraw non native assets (steem, eth, btc...)
3 - the withdraw fee (non native assets) is set by the gateways, not bitshares. Not sure if i understand this one, as the fee isnt very different from other exchanges

Comments

[harpooninvestor]

1. well YOU might understand what you wrote, but we don't, and we know what a Black Swan is, so...?
2. We've gotten this answer before, but it still doesn't explain why OpenLedger exists at all. If BitShares is good, why does it need gateways??
3. Maybe we didn't check it right, but we could have sworn BitShares charges the same withdrawal fee as OpenLedger, so maybe when Bitshares acts as their own gateway, they pull the same stunt? Either way, that last part about "everyone else is doing it" doesn't excuse the large fee as a % of assets. In the equity industry, taking 2.5% is considered kinda greedy, there's places you can get charged < 1% all the way down to 25 basis points.

In other words, this crypto stuff isn't really living up to its byline: cheap, fast transactions. It sure seems like crypto is just another big industry to exploit people just like the one we already have (which is cheaper btw).