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RE: The Great Bitcoin Train Wreck of 2018
Stan, please tell me this isn’t true. We’re all, (well not you), about to sink as the blockchain fills with sticky gunge and it’ll take days to move a satoshi.
I know bitshares is claimed to be super fast (I’m trading BTS, OPEN.BTC and bitUSD on the Bitshares exchange and it’s true, it’s super fast.
I still don’t understand this bit.currency and open.asset thing. It looks like real money, but for all I know it could be just imagination.
Let us pray....
bit.currency is market pegged asset (MPA) and backed by at least 200% collateral, ie. bitUSD and bitCNY. It is the most honest, trustworthy crypto-money on the planet and several Chinese exchanges are starting to replace Tether with bitAssets like bitUSD and bitCNY (https://www.aex.com/).
open.whatever is a user issued asset (UIA) created by gateways (such as OpenLedger) and is theoretically backed 1:1 by "whatever". So when you deposit 1 BTC via OpenLedger they issue you 1 open.BTC to go trade with on the DEX. This is exactly what Binance, Polo, Bittrex etc. do but Bitshares is honest and transparent about it.
Crypto-bridge (http://crypto-bridge.com/) is creating a decentralized gateway that solves the trust issue with gateways like OpenLedger, Rudex, etc.
"It looks like real money, but for all I know it could be just imagination."
Same can be said for grand dad bitcoin ;-)
Many questions already presented @stan
I think we should learn a lot, and study the important details
But what is the right direction and how do we benefit from this change?