what do you think the BitShares are?

[BIT-Sharon]

Do you think BitShares has the strength to further development?

[Amph]

are you talking about the coin or the decentralized exchange(i wasn't even aware that there was one that's good)?

https://bitshares.org/ is this something new? i just found it today

[bitpop]

I'm looking into bitreserve or tether but nothing beats Bitcoin

[Daedelus]

BitAsset derivatives are supposed to hold the value of the assets they are designed to track (the peg)

Currently, to buy 1 BitUSD = $1.18* (it should be held at $1 if working properly and the economic incentives are aligned)

* http://www.bitsharesblocks.com/asset/orderbook?asset=USD (You can buy 1 BitUSD for 288.54 BTS > equivalent of $1.18)


If a naive mom and pop merchant bought BitUSD to hedge the currency risk today, then they would lose ~15% (0.18/1.18) of their money the peg ever corrected to $1 like it is supposed to track.

The peg has broken but the most curious thing is that nobody seems to care. No one has mentioned it here and the marketcap hasn't dived. "The peg will be tighter when liquidity increases". True, but why would liquidity increase if the product doesn't do what it is designed to? A very strange market in BTS.

[Troonetpt]

The most of invest is Chinese, and almost all of wholes are Chinese too.
Sure lot of Chinese people don't like it as me.

[pereira4]

I still don't understand or get the point of what BitShares are. I mean, why would you hold what seems like USD tokes to me? you either hold the real thing or hold BTC.

[Daedelus]

The most of invest is Chinese, and almost all of wholes are Chinese too.
Sure lot of Chinese people don't like it as me.

I have seen that before too but yet to be convinced. Where do all these Chinese buyers discuss and find out developments about Bitshares? There must be a huge number of posts somewhere.(bitsharestalk has only 34k posts in the Chinese thread against 62k in the general thread, so you'd expect to see more english posters on BTT (twice as many as in any Chinese repository you might find)).

I asked before but got no answer.

[Zeroxal]

It seems to be just a decentralized exchange.
But I dont understand why people would buy shares instead of just buying some real bitcoin you can use...

[nutildah]

Its an extremely elaborate hoax, ala ethereum and some would say bitcoin.

[RussianRaibow]

Do you think BitShares has the strength to further development?

No. bcause it could not completely eradicate the need of centralized entities like gateways...

[testz]

The most of invest is Chinese, and almost all of wholes are Chinese too.
Sure lot of Chinese people don't like it as me.

I have seen that before too but yet to be convinced. Where do all these Chinese buyers discuss and find out developments about Bitshares? There must be a huge number of posts somewhere.(bitsharestalk has only 34k posts in the Chinese thread against 62k in the general thread, so you'd expect to see more english posters on BTT (twice as many as in any Chinese repository you might find)).

I asked before but got no answer.

Chinese supporters of BitShares don't use BTT, let's say Chinese altcoin fans don't use BTT, for example try to find info in BTT for Chinese YBCoin http://coinmarketcap.com/currencies/ybcoin/
AFAIK Chinese altcoin fans prefer QQ

[StanLarimer]

I like being able to go back and forth between a wide variety of assets as they cycle against each other in the market.
I can switch between BTS, BTC, Gold, Silver, CNY, EUR, and USD for about a penny in ten seconds as often as I like.
I can also create my own basket of currencies and adjust the mix as often as I like for pennies.
And I never encounter the delays, costs and risks of passing through fiat space.

The reason you don't "just hold fiat" is because it costs a "spread" every time you pass through an exchange to go back and forth between fiat and Bitcoin.  

Also, during the time you have your assets sitting on an exchange you are exposed to counter party risk of getting hacked or betrayed or seized.  While in BitShares, only you hold your own private keys while you can lock your price to any mix of outside assets.  This gives you price stability you can't get with first generation crypto currencies.

And you can change that mix (basket of currencies) in 10 seconds for pennies.

I'll refer you to What is BitShares? and the scores of other profoundly serious articles you will find with it on Bytemaster's Blog.

See also Join the BitShares Community Today!

and Where Can Blockchain Technology Take Us?

BitShares Loves Puppies has TONS of examples of what BitShares is all about.  It's a whole ecosystem based around a suite of "smart coins" that track the value of various fiat currencies and commodities.

Next month we will be announcing advances that go as far beyond BitShares as BitShares is currently beyond Bitcoin.  

So it is not a static picture at one point in time.  BitShares development will continue, so you can expect such leaps forward on a regular basis, just as you have seen several times since we began.

The BitShares Decentralized Exchange
Smart currencies are just it's product,
A safe place to trade is its business.

[samysamy1]

I'm looking into bitreserve or tether but nothing beats Bitcoin

Currently I'm sticking with Bitcoin and Nem(Xem)  

[Daedelus]

Anything to add about the market failure of these illiquid assets you claim you can move between? Seems 1 bitUSD is still $1.18, from the data published in the link above.

[bytemaster]

Anything to add about the market failure of these illiquid assets you claim you can move between? Seems 1 bitUSD is still $1.18, from the data published in the link above.

At the moment is is going for $1.11 because of the bear market.   We have recognized the problems with the current system and have a major update that will fix the liquidity issue. 

I would say that right now BitUSD is extremely liquid at $1.00. it is just expensive to buy because it can only be created by people looking to short and no one wants to short in a bear market. 

If I had $55K BitUSD I could sell them all at $1.00 right now which is 33% of the BitUSD supply.   

[DecentralizeEconomics]

I like being able to go back and forth between a wide variety of assets as they cycle against each other in the market.
I can switch between BTS, BTC, Gold, Silver, CNY, EUR, and USD for about a penny in ten seconds as often as I like.

No, you can't.  You can switch between BTS derivatives contracts which are supposed to track certain assets, but don't because there is no convertibility.

Also, during the time you have your assets sitting on an exchange you are exposed to counter party risk of getting hacked or betrayed or seized.  While in BitShares, only you hold your own private keys while you can lock your price to any mix of outside assets.  This gives you price stability you can't get with first generation crypto currencies.

Make sure you keep telling everyone that they're protected from counterparty risk to distract them from realizing that the systematic risk of holding your derivatives contracts is an even riskier proposition.  Price Stability?  You're joking right?  Why would I want to purchase a faux USD BTS derivatives contract for more than a real, tangible USD?

Anything to add about the market failure of these illiquid assets you claim you can move between? Seems 1 bitUSD is still $1.18, from the data published in the link above.

At the moment is is going for $1.11 because of the bear market.   We have recognized the problems with the current system and have a major update that will fix the liquidity issue. 

All I hear is excuses.  What happened to this being "Safer than a Swiss Bank Account"?

[testz]

Anything to add about the market failure of these illiquid assets you claim you can move between? Seems 1 bitUSD is still $1.18, from the data published in the link above.

At the moment is is going for $1.11 because of the bear market.   We have recognized the problems with the current system and have a major update that will fix the liquidity issue.  

All I hear is excuses.  What happened to this being "Safer than a Swiss Bank Account"?

$1.11 per BitUSD show this, 1 BitUSD cost more than 1 USD because market think that BitUSD "Safer than a Swiss Bank USD".  

[DecentralizeEconomics]

Anything to add about the market failure of these illiquid assets you claim you can move between? Seems 1 bitUSD is still $1.18, from the data published in the link above.

At the moment is is going for $1.11 because of the bear market.   We have recognized the problems with the current system and have a major update that will fix the liquidity issue.  

All I hear is excuses.  What happened to this being "Safer than a Swiss Bank Account"?

$1.11 per BitUSD show this, 1 BitUSD cost more than 1 USD because market think that BitUSD "Safer than a Swiss Bank USD".  

"Safer than a Swiss Bank Account" leads people to believe that BitUSD will always be on par with USD.  It should not be more or less than one USD.  What about those individuals who have lost money shorting BitUSD because they were led to believe BitUSD would maintain USD parity?

[StanLarimer]

As we've said many times and in all full disclosures, BitShares is still being refined with lessons learned continuing to be applied.  It gets stronger with every release.  All discussions about theory of operation are about what we are building and how it works in production when the market depths reach full liquidity.    Even so, it has been remarkably resilient during this thin bear market.  Very gratifying to see.

That said, even now BitShares is immune from more abuses (and in that sense safer) than a Swiss bank - which was the whole point of the slogan.

 

[DecentralizeEconomics]

As we've said many times and in all full disclosures, BitShares is still being refined with lessons learned continuing to be applied.  It gets stronger with every release.  All discussions about theory of operation are about what we are building and how it works in production when the market depths reach full liquidity.    Even so, it has been remarkably resilient during this thin bear market.  Very gratifying to see.

That said, even now BitShares is immune from more abuses (and in that sense safer) than a Swiss bank - which was the whole point of the slogan.

 

Oh... I thought it was "Safer than a Swiss Bank Account" in regards to Bitshares' (TM) "products" (BTS derivatives contracts) holding their peg to their physical counterparts.  Certainly, most users would take that statement to mean that their money will be worth the same amount tomorrow as it is today.

Maybe it's me, but in my opinion, it seems a little disingenuous to claim Bitshares' (TM) slogan, "Safer than a Swiss Bank Account", applies only to counterparty risk and not systematic risk, which is obviously the greater risk in your experiment that you are conducting with other peoples' money.

How many "lessons" is it going to take until all your users become broke from your misconstrued "theories"?