How BitUSD is far superior to Tether (USDT).
Tether FUD has been whispered about nearly since its inception. It's mother company Bitfinex was dealing with their own problems when it was created. Many people in the crypto space have their doubts if there is in fact 1 dollar for every tether. They doubt if the audit they talked about will ever happen. Tether is the centralized exchanges stable coin, but its stability is in question and the question has never been addressed.
Bitshares is a DEX with its own blockchain. It also has its own answer to tether. Bitshares uses the BitUSD and they are backed by the Bitshares blockchain's reserve amount of Bitshares. When I have to choose between an open source written code that backs the stable coin with real assets, or a private exchange that has been hacked and taken peoples money once before.. the choice is easy.
People talk negatively about trusting coins to these centralized exchanges. They talk negatively about the tether. As they use it, on the exchange that they shouldn't trust their money on. I would like to see the BitUSD replace the tether on some of these exchanges. It would be better to just give bitshares the volume it deserves, leaving your money in a place thats decentralized, safe, and has assets pegged to dollars, Yen, Gold, silver and other stable assets.
People have been calling this the year of the DEX, so I guess Bitshares was ahead of its time.. but this year should be the time for it to really shine!
Watch this video and follow @dhenz. He made me realize Bitshares is my old friend too. Its a great buy right now.. and this year will really be the year Bitshares can push through the centralized exchanges and make trading safer for us all! Destroying tether along the way hopefully!
nice post
Very much agree. With steering things in the right direction, replacing Tether with bitUSD in a few places plus continued growth of (let's not forget) bitCNY and BitShares is having value $1.40 - $3 and lots of liquidity
Shall we organize a group action to persuade major centralized exchanges to drop USDT support, and instead start supporting BitUSD?
Doing so we will minimize the negative effect on the whole cryptocurrency market when this theter bomb is trigerred in the future.
Let's act now and safeguard our money.
I enthusiastically agree. I'm trading on the Bitshares DEX nearly every day. Decentralization is so important. Thanks for writing this and spreading the word!
why did bittrex delist BTS?
Its debatable really still.. The reason Bittrex gave was something about it requiring too much memory. Some people from Bitshares tried to help fix it. It seems like Bittrex didnt care. For liquidity I think both Bitshares and Steem need to get on to Binance, KuCoin, or Bibox. They will be the better centralized exchanged by the end of the year..
Nice post
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