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RE: You're going to regret not buying and using Bitshares Active Decentralized Exchange that has just recorded 1,000,000 Daily Transactions
If I want to buy Steem on Bitshares, so.. it's not real Steem right? It's pegged to it somehow? In other words, I can't withdraw or deposit Steem or Bitcoin into my account on Bitshares can I? Only Bitshares goes in and only Bitshares goes out? That's ok if that's the case..I just need to wrap my head around it before going in further and using it.
You can deposit/withdraw them via the OpenLedger gateway but you end up with an open.[COIN] in your Bitshares account. These are backed by OpenLedger but you have to trust that they actually have the real coins.
The bit[USD/CNY/EUR] smartcoins which exist natively inside Bitshares are a different thing. They are backed by at least 175% of their value in BTS and the system will automatically monitor this to make sure that they remain solvent. It takes a little study to understand how they work but it seems like a good system.
open.STEEM is STEEM but you willl find BEYONDBITCOIN and even WHALESHARES on the DEX.... of course it's the same STEEM...
Steem and open.STEEM are different blockchains. So, how can you say one is the other?
Steem is a Blockchain. Open.steem is a token for a steem deposit of that amount. And you can use the token to get steem on the steem Blockchain
So.. I could deposit Steem into bitshares exchange but it gets held in a smart contract and then I can trade open.steem which represents 1 for 1 of that deposit? I still wish everything was priced in BTC because it's super awkward for me to compare things.