[BTS] Bitshares #1 Fastest Crypto, Tokens, DEX, ICOs since 2014 (unofficial ಠ_ಠ)

[BTC4QB]

From 17k something to around 2k in in about 4 months. Off putting for newcomers thats for sure. Weekly chart looks like a giant pnd, sad. Hope price will somewhat recover in near future.

exactly, it's falling like a ball, sale offffff coin 

[Enre]

Hmm what's been going on recently?
Bitshares has just been going down and down in value recently with no sign of recovery

[aqzu]

Hmm what's been going on recently?
Bitshares has just been going down and down in value recently with no sign of recovery

It is going to abyss

[favdesu]

Great read: https://np.reddit.com/r/CryptoCurrency/comments/70j3za/bitshares_opinion_on_the_hard_fall_and_why_it_may/

[Hullo]

Price will recover because potential still exists and one thing isn't to be ignored that till few weeks ago Bitshares was among top 11 markets at marketcap. It is quality of content and use case which can make its way back up again to be among to markets. Hodling is best policy now without any panic after buying at high.

[Savik]

Decentralized exchanges are the future, and Bitshares has beaten everyone to the market. They have been around forever and are perfecting their product long before the rest can even release a Beta.

[ChromaticStar]

I am trying to learn more about Bitshares. I do like the idea of decentralized exchanges such as EtherDelta, but I do not know how you can justify Bitshares valuation of $187,000,000. Today it looks like there were $6,000,000 worth of transactions 3/4 of which were CNY. Since China is banning cryptocurrencies, can these assets be seized somehow since they must be held in China somewhere? How are they protected via smart-contract? Couldn't any non-crypto based asset be seized?

Also, the website and CMC APIs seem to be down. Is something wrong?

[scaryvirus]

I am trying to learn more about Bitshares. I do like the idea of decentralized exchanges such as EtherDelta, but I do not know how you can justify Bitshares valuation of $187,000,000. Today it looks like there were $6,000,000 worth of transactions 3/4 of which were CNY. Since China is banning cryptocurrencies, can these assets be seized somehow since they must be held in China somewhere? How are they protected via smart-contract? Couldn't any non-crypto based asset be seized?

Also, the website and CMC APIs seem to be down. Is something wrong?

1. bitshares is more than a decentralized exchange, see 1st image in 1st post
2. it's the fastest cryptocurrency and tokens in existence by a TON, time tested since 2014 - this alone makes evaluation ridiculously low compared to mostly vaporware above it
3. it's self sustaining and the very first DAO in existence before DASH before ETH (also have prediction markets from before)
4. ICO's? It's words easiest way to do ICO's, better than eth and predates eth
5. 15 mil volume today on bitshares platform, 7.8 mil using bitCNY (not CNY) http://stage.cryptofresh.com/assets
6. China can ban and prevent legal fiat-crypto gateways like exchanges, but those who already have crypto will always have them online, like BTC, bts, or bitCNY
7. Decentralized networks don't have assets "in China somewhere" but around the world, they are on every node around the world at same time
8. you don't have to be chinese to use bitCNY. I use it just because it's most liquid.
9. bitCNY value is protected by smart contracts holding BTS coins locked up to make sure at any time if you have bitCNY you can hit settle and get exactly 1 CNY worth of BTS out of the contract

bitshares can process more transactions in 1-2 hours than BTC or ETH can do in 1-2 years

I don't know anything about coinmarketcap or its api, I do know that it doesn't show the full volume of the dex and missing a ton of pairs. Makes sense perhaps because the dex allows of trading between any two assets there leading to O(N^2) growth of pairs with N assets

[scaryvirus]

FYI, just noticed

btsbots dev requires people to run now

Code:

confirm_run()

 in the browser console (ctrl-shift-i for chrome) for it to resume trading to acknowledge switch in price feed sources (read side chat there)

[ChromaticStar]

I am trying to learn more about Bitshares. I do like the idea of decentralized exchanges such as EtherDelta, but I do not know how you can justify Bitshares valuation of $187,000,000. Today it looks like there were $6,000,000 worth of transactions 3/4 of which were CNY. Since China is banning cryptocurrencies, can these assets be seized somehow since they must be held in China somewhere? How are they protected via smart-contract? Couldn't any non-crypto based asset be seized?

Also, the website and CMC APIs seem to be down. Is something wrong?

1. bitshares is more than a decentralized exchange, see 1st image in 1st post
2. it's the fastest cryptocurrency and tokens in existence by a TON, time tested since 2014 - this alone makes evaluation ridiculously low compared to mostly vaporware above it
3. it's self sustaining and the very first DAO in existence before DASH before ETH (also have prediction markets from before)
4. ICO's? It's words easiest way to do ICO's, better than eth and predates eth
5. 15 mil volume today on bitshares platform, 7.8 mil using bitCNY (not CNY) http://stage.cryptofresh.com/assets
6. China can ban and prevent legal fiat-crypto gateways like exchanges, but those who already have crypto will always have them online, like BTC, bts, or bitCNY
7. Decentralized networks don't have assets "in China somewhere" but around the world, they are on every node around the world at same time
8. you don't have to be chinese to use bitCNY. I use it just because it's most liquid.
9. bitCNY value is protected by smart contracts holding BTS coins locked up to make sure at any time if you have bitCNY you can hit settle and get exactly 1 CNY worth of BTS out of the contract

bitshares can process more transactions in 1-2 hours than BTC or ETH can do in 1-2 years

I don't know anything about coinmarketcap or its api, I do know that it doesn't show the full volume of the dex and missing a ton of pairs.

Pretty impressive.

It is hard for me to understand the way bitCNY can have its value tied to CNY somehow without there being a redemption market. The futures market is the same way in the US, you at least need to have it fractionally backed by a commodity that physically exists somewhere for the market to exist. I do suppose you could have a smart contract referencing some traded FOREX pair to decentralize it, but this would require excess collateral locked in a smart contract in case of a margin call.

Part of my concern comes from what it says here: https://bitshares.org/technology/user-issued-assets/

While Bitshares itself might be decentralized, at least some of the assets that trade on it do not seem to be.

I'll try to checkout bitsharestalk.org and get some answers.

[scaryvirus]

but this would require excess collateral locked in a smart contract in case of a margin call.

That's exactly right. It requires putting ~2x (and usually more) collateral to short (and thus create) bitCNY relative to BTS.

There are a lot of links on first page of this thread talking about how it works, like https://steemit.com/bitshares/@xeroc/what-makes-the-bitusd-than-nubits

• BitUSD is created by a super-bull willing to take the downside risk
• BitUSD can be force settled
• BitUSD does not depend upon trusted parties to run bots on exchanges
• Borrowers are Margin Called when collateral runs low which refreshes the collateral backing BitUSD as the price falls.

Can replace bitUSD with any smart coin like bitCNY or HERO

the first point is very easy to imagine since there's a set maximum to # of bitshares coins (3.6 bil) and they already exist so inflation isn't an issue
additionally, any bitshares coins locked in these collateral smart contracts are effectively removed from supply. temporary possibly, but with large enough collateral settling never has to occur.

it's a very neat design imo. I remember I wasn't sure until I got 1 bitUSD myself, settled it, and ensured I can take money out of it.

[oleksii777]

I am sure that in the very near future the coin will cost 3000 Satoshi. So buy now as long as there is an opportunity! Good luck!

[BeyondDeception]

Decentralized exchanges are the future. It is not a matter of if, just when. And we get closer everyday, especially when you have governments that use fear as a weapon. The old tried and true top-down approach of most governments.

But there are a lot of platforms and inventions that are born before their time and without good marketing and incentives - these things can fall flat on their face.

Take me for example, I'm fairly new to cryptocurrency. I've only been doing this since April, and I've heard about BitShares and their project, but I didn't realize they had a working platform. I assumed (wrongly) that no one had a decentralized exchange yet. I have feeling I'm not the only one that thought this, which is why an effective marketing campaign is important.

Incentives can go a long ways too - like binance for example, who has the bnb coin which can save you money. The question that bitshares should ask is what does bitshares offer that others don't. I get that they offer a decentralized exchange, which by itself is big, but to be truly successful that line questioning can't stop there. There are only two things that typically drive traffic or make people want something. Either it's so attractive (in terms of what it does, offers, usability, etc.) that people naturally flock to it or fear.

[EnViRoNmEnT]

Great read: https://np.reddit.com/r/CryptoCurrency/comments/70j3za/bitshares_opinion_on_the_hard_fall_and_why_it_may/

Nice! I think at least with the comment regarding the new website ("This month Bitshares is supposed to get a new website and a new GUI as well as an overhauled exchange."), we can see a jump in the price.  Lets hope

[Arvydas77]

It was going down from the start and only this year was serious reversal. Old holders sold everything and new ones now keep their bags or sell at loss. I think that rebranding could help for a short term pump. DEX of BTS is unpopular and very slow, it doesn't work for me.

[ColdZerk]

Does anybody heard about project "billion hero campaign"? It said that it will be included in BitShares EcoSystem. I found a small amount info about this project, but it give 20 stakes to new users. Just found an article on steemit and 1h30m video with 30 watches on youtube.

[oleksii777]

I hope that the coin will soon stabilize! And it will cost at least $ 1.

[l3pox]

I hope that the coin will soon stabilize! And it will cost at least $ 1.

not worried at all for long term.
let's see.

[fedmahnkassad]

I went balls deep today slightly below 2k after the third higher low https://www.coinigy.com/s/i/59c27cd245c66/

It looks like we are pretty safe now and should recover to at least 3-4k unil the end of the year. Not getting the opportunity to buy BTS below 2200 is very stupid imho.

[layoutph]

I am loosing my temper with BTS, please tell me where is the dip, 3K sats, so I bought at 3K.. Then it dumped, 2500sats, then I bought again. Then 1900sats. Whats next 1000sats?

I went balls deep today slightly below 2k after the third higher low https://www.coinigy.com/s/i/59c27cd245c66/

It looks like we are pretty safe now and should recover to at least 3-4k unil the end of the year. Not getting the opportunity to buy BTS below 2200 is very stupid imho.