Bitshares – what is happening?
Nothing.
(read the whole thing, it's not just complaining)
Ever wonder how is it that global crypto market cap has regained like 80 billion dollars from July, every other coin is breaking its all time highs and BTS is just sitting there, sad and alone, at 15 cents a piece, going even lower at every opportunity? That's your answer – nothing is happening.
There are a few announcements of various importance here and there, but their implementation is months away if at all. @stan is posting greatly written articles from time to time but most of them are the same hyping of the Fast Bitcoin initiative with no real progress or somewhat misleading information about the Billion Hero Challenge (maybe it's just me, but somehow from this post I got an idea that the challenge will start on 4th of July, two month later we see that it will take a while to prepare and organize it. Another example is saying "it is happening now" in the Fast Bitcoin post and then few weeks later stating that noone even started implementing it due to the lack of a dev). I mean no disrespect to Stan Larimer, I'm sure he is doing what he can (as a fellow aerospace engineer I just believe him somehow :) ), but it's clear to me that although he'll never say it, he needs help – our help as a community.
How is that we have a ready to use product, a platform that is far better than anything on the market right now and the projects with nothing to offer except the whitepaper have ten times our market cap? How is that we have our own exchange but the only thing lacking there are some tumbleweeds rolling around to show how low the volume is? How is it that on the crypto-followers’ most popular website coinmarketcap.com the BTS social feed is so dead even the Night King wouldn't go near it?
We need promotion/advertisement and a lot of it. We need to tell more people about Bitshares and show them our superiority. Billion Hero Challenge aims to do just that and I really hope it succeeds (personally, I think it could backfire spectacularly and hurt not only the platform but Stan’s personal reputation as well, however, it’s a matter for another discussion), but it needs to happen soon. In my opinion we don’t have much time – if we’re going to have to wait for another half a year, we may be unable to catch up anymore. Bitcoin will have lightning networks, Ethereum will have sharding and all the other “popular projects with nothing to show” will finally have something. Their popularity will skyrocket and BTS will fade into obscurity.
So what I’m saying is we as a community need to unite and start working together. We need to promote BTS on youtube (this guy gets it ), twitter, facebook, news outlets, investment publications etc. The HuffPo articles were great but I think we need to focus on something for grownups, like Forbes or Times (I’m not from US so I don’t really know the rankings and the reader base). There are so much popular channels on YT, not related to crypto/trading, that could mention BTS as an investment opportunity/future of money (for a certain payment of course). We need to attract more ICOs and investors. I want to see an interview with Stan Larimer in Forbes, where he’ll tell them that we welcome everyone and could handle all the ICOs that brought Ethereum to a halt simultaneously without breaking a sweat.
Of course, this campaign will cost money. It is also should be closely supervised in order to not turn into a spam attack. So maybe we should make a worker proposal (or is it BSIP? I’m not sure about the nomenclature) to fund it and have a team of 10 (more? Less?) people that will run it and report every week on the progress? I am not talking about myself, I can’t do it. But our community is big enough to find someone who can.
Together we could get Bitshares the attention it deserves.
Tell me what you guys think?
Token price /= value
I have a long position in BTS; I too am watching many completely useless alt coins do 10x in the past 3 months and am wondering why there is no love for BTS, which is parked. Over the past two weeks I've spent time looking into the other alts that have skyrocketed: MIOTA, NEO, OMG, BCC, QTUM, WAVES etc. and you know what? Not one of them has a mature, viable product anyone is using.
The common denominator with all these other alt coins is slick marketing and a highly centralized coin distribution. A few people hold the majority of the coins and a group is pumping and dumping to bagholders. I seriously doubt even 10% of these alts, many of which now have or are close to billion dollar caps will ever have a product that anyone uses. They seem to have been created for hype and dumping.
Bitshares and Steem are real products people are actually using with relatively widely dispersed tokens. I think this makes them harder to pump, which is why we see the prices becoming rangebound.
In my mind we don't yet have investors that are buying based on fundamentals, we have shills and scammers and pumpers and whales running wild.
Honestly, if you were to do a traditional valuation and pick crypto based on metrics like user adoption, tx throughput, scalability etc. You would come down to a very short list that included BTC, BTS, STEEM, STORJ. Literally the only crypto that have products people are actually using right now. Except for BTC, these are the crypto that are not rallying while everything else skyrockets. It is frustrating.
In my opinion, investing on fundamentals and having a horizon of a couple of years is how the big money is made. Ultimately many of the top 20 coins on cmc will not produce viable products that anyone actually uses. This is the dotcom boom all over again. The trick is finding Amazon, Google, Facebook etc. among the thousands of crappy pump and dumps. Based on my research EOS, BTC, BTS , STEEM and STORJ are currently the most likely to survive and thrive. Remember the rich guys were never the ones that followed the crowd....
Many people accuse Bitshares of being centralized - they are referring to the 25 witnesses. Some people blame Bitshares for not having a centralized governance. You are indirectly being frustrated about the side-effect of real decentralisation, which is hard collective decision making, and hence slow progress.
It really is frustrating, and apparently many people compare the short term perspective to alternatives with centralized governance, and see better short term gains elswhere. I bet that's one of the reasons Altcoins with little substance whiz past Bitshares in terms of market cap.
But some people see the long term viability of Bitshares, mainly because of the inbuilt efficiency, scalability, and most of all, a proper stake-weighted governance model. A proof of this is the numerous businesses that are migrating to Bitshares. Businesses must evaluate long-term viability and sustainability. Sooner or later most of the altcoins will bump into the same problems as bitcoin; scalability and governance. They might be viable today, but what about after 10 years? People who foresee the problems first will be the ones to pop the bubbles. Now people just don't see it, or then they are just smart enough to ride the waves and dumb money. Sooner or later many altcoins will crash to the ground because of lack of long-term designing. Bitshares won't be one of them. Bitshares has long-term viability baked in. This unfortunately makes it less sexy in the short term for individuals seeking for massive profits.
Personally I'm in Bitshares for the long term. I have seen how hard it is to get Worker Proposals approved. This actually proves that Bitshares is not controlled by any single entity. All these years I believed that the community will find a way to reach consensus, and regain momentum. Now it seems to be happening. Isn't it encouraging? This is an issue all cryptocurrency communities will have to face and solve in the future. I can't think of any other ones than Bitcoin, Dash, and Bitshares that already have. Bitcoin will likely never have efficient governance, while Bitshares seems to have found a way past it's issues, and now has functioning governance. From now on, Bitshares will start to evolve again at increasing speeds, while other coins will continue to be centralized, or face the same problems Bitshares has already solved. More and more businesses are migrating to Bitshares, and the momentum will soon be unstoppable.
So please re-evaluate your position again. See the fundamental progress that has happened in Bitshares, and how it lays ground for more superficial and visible develpment from now on.
i agreed with you espacially this part
From now on, Bitshares will start to evolve again at increasing speeds, while other coins will continue to be centralized, or face the same problems
Or you can jump boat and invest in a coin where active development is taking place :)
I largely agree. The problem with the hero is that it is far too complex to explain. Seasoned traders get it. Noobs don't. The average joe which is the target use case hasn't heard of it.
And I don't think Stan has targeted the correct audience. His following is hardly a measure of the message getting through.
To make matters worse: enter fast bitcoin. Even more confusion. I signed up for free tokens, got nothing but a spam mail rambeling over billion hero Campaign.
Stan can be brilliant sometimes and I think he was in the 4. Of July video. Very nuanced and differentiating his message to the different users. But who remembers an hour long webcast?
Isn't it more logical to promote existing product that solves most of the problems than wait for the active development to finish up? By the way we have an active development too - the EOS platform, it's just noone is connecting it to bitshares and it'll take a really long while to come out
you do not need to unite the community, many people tried. it is what it is and everyone does what he think brings the most value to the table. Sadly most people are just sitting on the sideline and watch their crypto portfolio instead of actively participating.
However if you really want change get some of the work done in stead of just talking. we do not need more preachers but workers.
You are joking right? Literally in the last week it's been announced that Bitspark will be moving their remittance payments from the Bitcoin blockchain to the Bitshares network - big win.
The Billion Hero Campaign started on 4th July and have you checked Twitter lately? There are far more mentions of Bitshares now than there ever have been. Likewise Steemit where Bitshares only last week became a trending topic.
The Billion Hero Campaign is aiming to take the Bitshares price to $300 dollars by next summer - we're barely 6 weeks in...
It does sound like you're seeing other coins rising and becoming frustrated that the BTS price isn't rising, but bare in mind Bitshares has the best blockchain in existence currently and when it upgrades to Eos next year nothing will stop it.
Bitshares are taking crypto to the masses via the Billion Hero Campaign. It's going to be huge. You'd be wise to buy at these prices while you can.
Additionally you're forgetting that BTS has experienced growth of 212% in the last 6 months.
Bitspark is a really big win, but as i said - it's months away (they will take time to transfer their business to bts blockchain, they said it'll start with their initiative with Tajikistan).
No, I haven't checked twitter, but thanks, good to know.
I know what Hero campaign is aiming to do and I touched on that a little in the post.
Of course I'm getting frustrated with the price, no one likes to lose money
I don't think you guys reading the whole post - I'm trying to unite the community in order to promote Bitshares. I do believe that it's the best thing on the market right now but it needs publicity
I read every word. But why are you getting frustrated at this point when there is effectively a year of intense marketing ahead of us? The technology is second to none. @stan and the team have hired a renowned marketing company out of New York to take this not just to other crypto users but to everyday people. The kinds of people who want their Savings Accounts to give them 5% annually as the HERO would do. You shouldn't be concerned at what the price is now, but interested in what it's going to be a year from now.
Well, I'm getting frustrated over the price because I have lost too much money, but my feelings are not the point. I'm concerned about the possibility of the year of intense marketing starting too late, when the other projects will become "more interesting"
I'm not sure what you're asking for - they know the marketing hasn't been sufficient and they're fixing that now.
If you feel that you're aware of other projects that will become more interesting then Bitshares then invest in them. They have a long way to go before they can match Bitshares performance. It's healthy to have your investments spread out
I'm asking for the community to get involved and not just rely on some miracle workers from New York to get them a thousandfold increase
I really hope that you are right and it plays out in the best possible way, maybe i'm too skeptical (or salty, whatever), but aren't you even a little bit too?
I'm not worried at all. I add to my Bitshares holding all the time and will continue to do so when I get to my target. I'll be getting some Steem and Eos too.
I think Bitshares is just incredibly undervalued right now. $5/10 per BTS in the near future isn't impossible.
I get the frustration but that's just investing I'm afraid.
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