Bitshares: Why Am Buying This Dead Coin.
Just last week, I bought bitshares at about 0.00002000 satoshi.
The reason I bought bitshares was because I believe in one of it core features which is a decentralized exchange.
Since some countries has decided to start closing exchanges, it is just a matter of time before it reaches our door.
China has already banned Chinese exchanges, Dubai has decided to create their own Cryptocurrency Emcash, Russia too, South Korea has also banned ICO's, USA want us to declare our crypto portfolio and so on.
Today I saw Bitshares is the number 6 on the first page of Bittrex trading at 0.00001450 satoshi. I clicked on it and saw that Bittrex will be delisting on the 13/10/2017, I began having a mix feeling. Maybe this coin is dead, maybe not.
Even though I know to some extent what bitshares is, it is quite confusing to understand it just by reading what they have on their site.
I found a post written by @kingscrown which @johnsmith wrote a great comment. below is the comment
A quick PSA that Bitshares has had more new releases, adoption, transactions, good news and development happen in the past three months than any other coin in the market - I follow the top 20-30 on CMC religiously. Here's a quick summary:
Bitspark is moving millions of dollars of remittance volume from Bitcoin to the Bitshares DEX because Bitshares is faster, offers smart coins (bitCNY, bitUSD, bitAnyCurrencyInTheWorld) and is scalable to 100,000+ transactions per second (currently does 10,000 tps, upgrade as needed)
Bitshares is a TXSRB clean token and will not be subject to SEC or other government crackdowns (happening right now!)
Bitshares is being used to create the STOKENS exchange for issuing and trading SEC-compliant tokens. Most/all ICOs will be moving to Bitshares instead of Ether in the future as companies are forced to follow the rules set by the SEC and other government/regulatory agencies. Already there are many ICOs happening on Bitshares - Smoke, Kexcoin, Bitspark, Satoshi.fund, Bondonblockchain, Crypviser, YOYOW from the top of my head - many more on the go!
The Billion HERO Campaign is bringing in huge marketing and media visibility to the Bitshares brand and technology. They are bringing Bitshares tech to governments in the US and the Caribbean, celebrities, public companies and traditional startups
Bitshares will migrate to EOS when EOS launches. Bitshares was built by Dan Larimer, the main developer of EOS. Bitshares has a plan in place to upgrade the Bitshares chain to EOS tech, enabling sub-second block confirmation times and theorectically unlimited transaction speeds (currently BTS can do 100,000 tx/s, EOS will take it to >1,000,000 tx/s)
Bitshares is actively upgrading the exchange user interface and fixing tons of bugs, they are spending over $160,000.00 USD in the next six months to upgrade the exchange to a world class interface
China is shutting down centralized exchanges; the US and other countries will follow soon. SEC has recently filed charges against a US based-ICO and they are using it to build a model to crack down on all the other ICOs. Decentralized exchanges are the future of trading crypto and Bitshares is the No. 1 DEX on the planet by any metric - transactions per second, scalability, security, volume, adoption, speed, number of assets, etc.
Bitshares has been running for over 3 years and has not been hacked
Trading fees are cheap
The community and developers are one of, if not, the best in the world
Private, stealth transactions!!!
Bitshares is the most heavily used chain in the world, routinely exceeding the transaction/operation volume of Bitcoin and Ether combined. Bitshares recently hit 900,000 tx/op in one day and didn't even break a sweat
Bitshares is the longest chain in the world
Bitshares recently released an iOS app for the DEX - first DEX in the world to allow you to trade directly on your iPhone. Apple approves!
Bitshares is currently the most undervalued token on the planet. Why? Why would the crypto with the best tech, fastest transactions, most scalability, biggest DEX, most development and most exciting news be so undervalued? Here's a hint: Bitshares is designed to put centralized exchanges out of business. Bittrex is delisting on some trumped up technical reason (that has never caused them an issue to date! and doesn't actually exist)... hmmm. Bitstamp, Bithumb, GDAX, HitBTC, Kraken, Gemini etc. all refuse to list BTS despite it being one of the oldest, most used and highest volume coins on the planet.... hmmm. Seems to be a pattern there that has nothing to do with Bitshares. People call Bitcoin a honey badger. Bitcoin is a like a pet gerbil compared to Bitshares. Centralized exchanges that misuse customer deposits (to invest for themselves), get hacked and lose customer funds, stop you from withdrawing randomly, go down randomly so you can't trade, charge ridiculous fees, and are generally shady are obsolete and they know it. Bitshares trade volume is climbing steadily every day. Bitshares adoption is skyrocketing both by individuals and businesses. Bitshares development is chugging away funded by a $100M USD reserve fund. Bitshares has one of the largest, if not the largest, development teams in the world and it is growing every day. And if you're wondering... hell yes, I bought Bitshares today!
Comment Sourse: https://steemit.com/bitshares/@kingscrown/bitshares-current-trading-state-and-price
As you can see his comment itself is a great post. So what do you think guys.? i think is time to buy Bitshares.
Note: This is just my view and not an investment advise.
Interesting points... I bought some a few weeks back on the china news.... Now I will open a bitshares account and start using there exchange.... Short term potential looks dire but longerm it may be a great buy now while it's beat down
I agree with you 101% now is the time to buy and hold. It will be a great investment.
I wish I had your optimism. I like the BitShares platform, but getting delisted is a big deal. Or at least it's a big deal in the short term.
Right, maybe in the short term. But there's a bigger question if there might be a crackdown on exchanges in the US. We've already seen Bitfinex pulling US support in possible anticipation of this as they don't want to deal with the headaches.
From what I understand about Bitshares, and it is limited mind you, is that it takes the promise of decentralization and applies it to a trading/exchange platform.
I opened an account a couple weeks ago but didn't do anything else with it, as the format is unfamiliar and somewhat intimidating. But, I'm sure with a little time and some digging around on Steemit for tutorials, that I can figure it out. And it seems, that it will be increasingly more important to feel comfortable with a decentralized exchange like Bitshares. Once it pairs with EOS, it is going to have phenomenal scaling capabilities as well.
Lol, intimidating! Yeah it quite confusing, for now my tokens is on Bittrex but I will have to create an account on bitshares website for it gets delisted.
Some Gov around the world are been harsh on cryptocurrencies so is good to distance ourselves.
I have the feeling, though, that once it becomes familiar, there will be no going back. I'm amazed at the speed as I transfer to Bitshares from Bittrex.
Yeah it will definitely explode when it becomes familiar. How fast was it?
less than 30 sec
Wow that's awesome!
Yeah it's a big deal for now but we can still trade it on the bitshares exchanges and a few other exchanges.
I think investing on bitshares for a long time will be a big deal.
Hey, stellar post my friend. You inspired me to dig into this. What a great angle you found. Thanks a lot for your insights. Picture me researching.
I see you man. Am glad you like it.