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RE: BitShares (BTS) Revised Target to $1.83
I have been thinking about the future of BitShares and when you really understand what is rotten in many of the traditional exchanges and add up the fact that you don't really own the coins there, there is no other possibility than DEX.
There will be failiures in crypto space, many people have lost and will loose money, there is no denying that. But there will also be coins, that will survive and will have to be traded somewhere.
I couldn't agree more. Bitshares and its decentralization is definitely going to be one that wins. Watch the video interview in this post: https://steemit.com/beyondbitcoin/@terrybrock/stan-larimer-on-the-state-of-cryptos-today. Dan Larimer's father is being interviewed and he pointed out a lot of great insight into why those crypto businesses built by his son (steemit.com, EOS, bitshares.org and peerplays) have massive advantages over the rest of cryptos that use miners to operate the blockchain.
I've heard of Komodo. Not BarterDEX though.
The thing here is that, BitShares has the earlybird's advantage in DEX, while doing a great job at remedying the flaws and lack of practicality of Bitcoin.
PLus, i just read that Visa cut off all links to crypto related cards...this will make the Arise bank and Bitshares collaboration even more important...not sure if it's just a policy issue and will be reinstated, but it just shows how fragile the link between the decentralized cryptocurrency field and large corporations and banks
That is only one of the two biggest companies that provide services for card holders and banks. If they do not see the potential, MasterCard just might.
No doubt tim...very good point my friend..this will be an interesting next few months indeed...i have to make one correction...i thought they cut off all ties but it was just the company Visa deals with who connects and facilitates the TenX cards ...but i have a few friends that have had six figure deposits locked up for weeks and sometimes months when coming from an exchange..i think this is the banks trying to disrupt this industry..it makes sense because we are at the precipice of taking them over, but this really solidifies the importance of what Arise will offer...hope they can pull it off
Well I am from the Czech republic and every institution is slower here than anywhere else, so our banks and government are only now starting to react to cryptos. That's why I had no issues yet.
I do believe that if AriseBank pulls it off, it will be great.
hey shawnster are you saying that TenX no longer have a link with Visa ? do you have a link to the article ?
Yeah...sorry batfinkler...i should have been more clear...the company TenX uses for card issuance Wavecrest got booted from Visa so all TenX cardholders got their cards shutdown..they are looking for a solution, but whenever you link your business to centralized powers that have the keys to shut you down without notice, that's a problem..they already had issues earlier this year , so this doesn't bode well for investor confidence..but they will find another partner...hope this helps friend
cheers Shawnster I wondered why it had dumped from its ATH - should have sold at the top lol
Let's hope that they're truly scalable approach is figured out soon than later and others will follow. We need quick transactions with low fees. Dan Larimer's company's seem to be the only ones with a legitimate solution.
The thing I am most worried about, as a software developer, is the user interface. More precisely the chart area. It just is not up to the enterprise standards, provides very few to almost none indicators and is not very usable overall.
Agreed, but it's worth it (now) for the value. By the time they get a more user friendly interface, the price will be much higher
Haha that's very true! 😂
I believe Trading View charts and UI updates are being worked on currently. The UI has definitely come a long way with the recent updates. Make sure you're using the most current version. Go Bitshares!
In terms of usability, I think it stinks. Myself and a buddy bought a crypto that has little trading but has a bright future. We built up the position slowly. In the end, one order came is as open.XXX and the other as rudex.XXX. They define them as being equivalent, but in the end only the rudex.XXX is accepted in the token's wallet. And... every post we've found hasn't been able to actually show us how to convert the open.XXX to rudex.XXX and to transfer to the wallet.
So I completely agree there has to be a big improvement to simplify the interface and do the messy stuff behind the scenes and make it dead simple to order and transfer. I have no other experience, but hope this one is the exception..
Now that you mentioned it, I too, experienced a similar thing. I bought BTS through blocktrades with LTC and for some reason, it showed as it has been purchased through bitCNY. Not that it would be such a big deal to me, but big money people could be afraid of such unexpected behaviour.
@tim3w4rp I understand with centralised exchange you do not own the private keys and therefore the coin. With DEX do you suggest that people store their privates keys themselves ?
Thanks
More or less.
I don't exactly know, whether or not you have the access to a private key to every token that you own through DEX. However I do know, that you do own the private keys to the DEX'es main asset, for example BitShares, but you do NOT own any key whatsoever on centralised exchanges.
I hope that made it clearer.
thanks @tim3w4rp !
Komodo BarterDEX is looking mighty fine too.
Thanks for sharing the link. I have not seen this post yet. And believe me, I've read many on BitShares.
"[..] But there will also be coins, that will survive and will have to be traded somewhere."
Hence my/ the very first rule of investing in crypto: Make sure there is a working product!
Honestly I've gotten rid of everything that is not working or might not be working in the future no matter how great their concept is, for instance ADA. ADA is great on paper but it might as well never work. Will I be missing out on certain gains short term? There is no denying that.. BUT! Will I come out ahead long term? I'd like to believe that I will. To each their own tho.
Excellent point. This is my thoughts exactly. When seeing Haejin's calls on coins, I'm always thinking: "Boy could I have made so much money." But then I realize there is really nothing tangible whatsoever. So for me, buying the cryptos that have a working product and have not been recognized by the masses, such as BTS or Steem, is the way to go.