Why aren't more people talking about BitShares?
These questions below came through in the main BitShares DEX Telegram channel a few minutes ago. I decided to take my time and provide an adequate response. I hope you like it and please let me know if I made any mistakes. I know I missed a lot, but these were the things that came to mind at the time.
Question: Can someone please explain why no one is talking about BitShares? Is there something I don't know? Seems to be by far the most impressive proven technology.
Answer: Because BitShares, being truly decentralized, doesn't have a dedicated marketing team to help promote this ecosystem. Also, the UI/UX design of the DEX/wallet is lacking in simplicity so newcomers get discouraged and leave. Last, but certainly not least, liquidity is still extremely low for most of the markets on the DEX.
Establishing a dedicated marketing team for BitShares is extremely difficult, but thankfully the way BitShares is designed, it allows for companies to build upon it and they can market themselves. Which indirectly promotes BitShares. Unfortuantely, this creates a catch 22 scenario. What comes first? BitShares marketing to create interest from 3rd party companies, or 3rd party companies finding BitShares and marketing for themselves?
UI/UX design issues are being resolved from different teams. Some are directly paid by the BitShares Reserve Fund/Pool while others build their own interfaces in hopes that it will generate income from referrals and gateway fees. Hopefully, we will have numerous, well designed, gateway/interface designs that will be user-friendly and well marketed.
Liquidity is being addressed by several iniatives. We have the DEXbot project which is building a native bot system that will allow for staggered order trading on the DEX, but for now it's a relative orders tool. There's the Auton.io market making trading app that is integrated to the BitShares DEX. Openledger.io is looking to launch a new fiat gateway. BitSpark will eventually be creating 180 different Market Pegged Assets which will be used to faciliate their remittance business around the world. All of these should help increase liquidity and allow for whales to play on the DEX.
In closing, you can see there's so much going on with the DEX, but it's not centralized. Information comes from many channels and sources, but it takes a community such as this to bring it all together. We may be spread around the world, but together we can make BitShares even better. All it takes is the willingness to do your part, whether big or small.
Here's another question that just came through.
Question: So what’s exciting to look forward to in the near future? Are we gonna see .91cents again? Higher? What can be expected technology speaking?
Answer:
Thanks a lot for the extra information, much appreciated. Namaste :)
Fantastic and informative.
I guess another (there are many more) is that fact that BitShares will - in the words of Stan - "Ride the wave from the coming Tsunami that EOS creates". My take on that is: BTS will somehow be integrated into EOS. As we all know that the entire ETH ecosystem could be incorporated within one smart contract.
The latent affect of coins / dapps being incorporated or built on EOS / BitShares is that they are by no way compromising themselves. They are in fact strengthening their offerings by ramping up capacity and speed. A true WIN, WIN, WIN, (www). The inference is a no loser scenario. Everyone wins.
I am super excited with BitShares. I love your quote: "Don't miss the boat." We usually only get a couple of bites of the cherry. For those that missed the initial price hike in EOS, maybe grateful that BTS is from the same 'family' of devs and visionaries. Most importantly, one can still get in for sub .40 cents.
I look forward to reading this entire thread in 12 months and 24 months from now.
Thanks kimi-king for your insight and everyone who is spreading the love and facts about BitShares. This is going to be one heck of a white-knuckle ride. Hold on!
Wow I never knew crypviser was built on bitshares
How do you use Crypviser? I can't create an account and I don't see in in the Play Store, is only available in iOS?
I don't think its on playstore yet
Bitshares has been steadily growing. I only found about it a couple of months ago. But the fact its a dex and the smartcoin market make it such a great project. Good job!
Hi.
I do find BTS developments to be fun to watch happen. Such a fluid and diverse blockchain ecosystem if I say so myself.
I mainly came by to say I bought some homemade Kimchi recently and it is so good with a variety of foods. :)
Have good day
I think the ux/UI should be fixed first by whoever thinks he can.
You know there's a dozen plus Bitshares wallet implementations now? There's like 4 android wallets, many web wallets, and a massively improving UI development process.
If you feel that the BTS DEX looks weird or there's something wrong with it, raise an issue: https://github.com/bitshares/bitshares-ui/issues/
Oh, I never knew. Thanks for pointing out. I love bitshares and I've made lots of videos about it
Awesome Post Bro 👍👍👍
This is an excellent article, short and very sweet to me anyhow.
The growth of Bitshares allows for people from all over the world and financial means to be able to get into it before it starts to literally climb exponentially. The technology and brains behind this allows for a smooth growth so far and a steady one to boot, considering the cryptocurrency world ups and downs. Nothing is taking away the strength of Bitshares, its popularity will grow in time. As we say in French "Patience is the mother of all virtues." and this shall pay off thousands folds, as it already did so far...
Thanks a lot for your explanations and continual devotion toward this revolutionary technology. All for one and one for all!
Namaste :)
I'm still trading on Bitshare most days. I'm glad that you are doing the work that you are to promote it. I was aware of most of the things you brought up, but still learned a few new things, too.
I've written posts in the past promoting Bitshares. Because I spent some time researching and experimenting, the Bitshares interface makes sense to me (and I haven't ever used any centralized exchanges). I think that Steemit is a great way for people to get started with crypto and then those who are interested in trading can take some of what they've earned on Steemit and start trading with it on Bitshares. It's a great combination.
Bitshares is amazing platform but needs popular pairings and a new user interface.
More liquidity too! I can't understand why they still don't have a more friendly interface, at least an alternative to this one. All my friends that are not related to the crypto world or with trading on exchangers seems to difficult, even that Bitshares simplifies everything A LOT, like the address thing.
In conclusion, if they improve their interface and make some changes in the mobile version, that sucks a lot in terms of functionality, they will get to the mainstream.
What is the new openledger fiat project? Will we be able to deposit cash and get crypto?