The new BitShares.org has launched! This is a truly beautiful website. |
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The only trouble I see is deciding whether BitSilver or BitShares is going to rise faster in that scenario. I'll probably hold both, knowing I can change my mind every 10 seconds for pennies.
Ah I'd missed that as an advantage over physical, bitSILVER being a crypto is very practically instantly and freely exchangeable. I suppose there must be paperwork for big silver trading transactions. Avoiding that's another advantage of bitSILVER. Yep, it's silver in the form of a cryptocurrency so it comes with all the benefits of the ecosystem. |
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The only trouble I see is deciding whether BitSilver or BitShares is going to rise faster in that scenario. I'll probably hold both, knowing I can change my mind every 10 seconds for pennies.
Ah I'd missed that as an advantage over physical, bitSILVER being a crypto is very practically instantly and freely exchangeable. |
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Not slating BTSX' interesting ideas- Both systems are taking different approaches. Some people want decentralized derivatives, some people want tangibility- proof-of-physical existence. There are pro's and con's and potential risks with both..both systems are an evolution from what we already have.
Agreed. It's just BTS btw, it lost the "X" a few months back. |
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bitSILVER buying has started to increase since posting. View the bitassets here (bitSILVER is the 6th one down): http://www.bitsharesblocks.com/assets/market Interesting post @Anotheranonlol. With bitSILVER running on BitShares do also get proof your bitSILVER is backed by its equivalent value, in fact it is currently backed by 276% collateral, even more backing than the service you mentioned. The collateral backing rates can be viewed at the above link. This collateral backing the bitSILVER is BTS aka bitshares. There are fiat and bitcoins queued up in buy orders on exchanges to buy BTS. For example: http://btc38.com/trade_en.html?mk_type=btc&btc38_trade_coin_name=bts http://btc38.com/trade_en.html?btc38_trade_coin_name=btshttps://bter.com/trade/btsx_btcYou can see BTS backing the bitSILVER has fiat + BTC buyers, and the bitSILVER is backed by over double its own value in BTS. bitSILVER's yield is also up at 3.88%. It's an excellent form of silver investment. Whether silver is a good buy or not is another question entirely. It could be given the huge downtrend and financial trouble in Europe. |
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BTS + bitassets, bitUSD, bitGOLD, bitSILVER, bitOIL, bitCNY, bitBTC
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Are you suggesting people should get in silver crash to escape from BTC crash?
lol
lol, silver might have finished crashing, it might be at the bottom, it's speculation. Not many people know about bitSILVER. |
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Why not in real silver or gold? OK, it's bulky and heavy but I can play Scrooge McDuck with it if I want  . The real metal definitely has it's own appeal. Still, it's nice to have a convenient digital version easily obtainable with BTC. |
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Silver is at a 5 year low. Is it a good time to buy?   You can speculate on the price of silver and stay within the cryptosphere with bitSILVER. You can easily move your bitcoins into bitSILVER by going BTC-BTS-bitSILVER. Holders of bitSILVER currently earn 1.82% yield. bitSILVER is a safe haven for crypto enthusiasts during these turbulent times. What do you think about silver at these prices? |
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If BitShares stakeholder numbers grow and there remain 101 delegates it becomes more centralised while remaining sufficiently decentralised. The purpose of decentralisation is to protect the network from being shutdown. It doesn't matter if there are thousands of stakeholders or millions, 101 delegates is sufficiently decentralised to protect the network. It part of the incentive structure for the large stake holders to vote for delegates who bring value to the system, not to just vote themselves in. That undermines their own investment. If you look in the delegate proposal section on the bitsharestalk forum, you will see free market competition is thriving, we have multiple exchanges, marketers and developers competing for delegate spots. |
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Decentralisation is a function of the participants in the network. Limiting the number of participants, limits the decentralisation. I wouldn't call anything that prevents you participating as decentralised.
Don't you want Bitshares to be a global technology? If you do, 3 billion people under 101 nodes is the reality you have to consider.
There is an imposed limit on the level of decentralisation of BitShares, there's no doubts there. Anyone can participate though, the standby nodes aren't just waiting, they compete and campaign to get voted in. |
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No one is calling Bitshares centralised. They are saying it isn't decentralised.
It is this kind of soft headed thinking and misdirection that I have come to expect.
There are 101 nodes in BitShares who can be voted out by stakeholders and thousands of standby nodes at the ready. That is the fact of the matter. How many nodes are required to fit for your definition of decentralised? The idea that BitShares needs to be able to handle 3 billion users is a straw man. That level of crypto use could be 20 or 30 years away, no one I know of has claimed BitShares or any crypto can scale scale straight to that level. Cutting to the chase.
The question is: Is Bitshares sufficiently decentralised/distributed to be regarded as a peer-to-peer crypto-currency, or is it in fact a centralised financial system like Ripple or the US treasury ?
How does anyone in the world create a node and get elected into a network for the US treasury? |
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Decentralisation isn't an absolute, the system you describe is decentralised enough. It doesn't mean its necessarily the most decentralised, or the least, but it is sufficiently decentralised to function excellently.
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