RE: Do Cryptocurrency Speculators Fear Utility?
Bitshares building an SEC compliant, regulated decentralized exchange and listing and trading compliant tokens is the biggest news in crypto. If people think China cracking down on ICOs and exchanges is bad, they have seen nothing yet. When, not if, the SEC steps in crypto is going to feel a thousand pound gorilla breathing down their necks.
Bitshares can currently handle all crypto trading on the planet - on every exchange in every token - with a few zeros in capacity to spare. Bitshares will still provide decentralized trading of un-regulated tokens/securities, but will soon provide whitelisted, safe, clean tokens to trade as well.
Every single crypto investor should be hedging regulatory crackdowns (China, SEC etc.) by taking a position in Bitshares and buying BTS right now. My God, every time I read the the Bitshares State of the Network post I can't understand why BTS isn't in the top 5 on CMC based on current status/adoption/development/utility/transactions etc.
🎩
😍
👕👍Great!
👖
This!
I feel the same way. So much amazing stuff going on, and it seems like most of the rest of the crypto space is just ignoring it. It's really... odd.
You make a great point about if (when?) the SEC really brings the hammer. I resteemed a post early today that's a good discussion about that. We may have some time still, but anything could change quickly when it comes to government decree.
I follow the entire crypto market and am fairly well versed on the top 20-30 tokens - by that I mean I have pretty decent understanding of what they are for and where they are at development-wise. There is literally nothing that comes close to the Graphene based chains, nothing. Bitshares and Steem are easily the most mature, most scalable, most used, fastest and most secure chains in the world. What is really odd is that, by any metric you could choose, BTS and STEEM should be the highest valued tokens on the market. Yes, right up there with ETH and BTC. Honestly, would $10-$20 BTS look odd to anyone? Anyone?
And yet, the Graphene chains are largely ignored by the small group of big money speculators that seem to pump useless half-baked shitcoins to billion dollar caps every week or two.
I'm starting to thing 90% of the crypto market is a scam created by a small group of people. They run the exchanges, create USDT out of thin air, they release shit coins, pump them and sell to suckers.
There is a great Reddit post about USDT on r/bitcoin right now asking if anyone knows anyone that participated in the $120 million of USDT created last week. No takers and a lot of downvotes.
I never, ever, thought I'd say this... but the SEC can't drop the hammer soon enough. I'll bet there's not a dozen tokens on CMC with any intrinsic value in a post-SEC crack down market. BTC, BTS, STEEM, EOS, XMR, STORJ, LTC, XMR, MAID, GNT... I run out pretty quick.
We could have some very, very interesting times in front of us. Thank you for sharing your analysis and thoughts.
Good isight (!) and wow I own at least a little bit of six of those. Note to self, buy the others....