RE: Questions from a BitShares Newbie
Answers to all of your questions:
A lifetime membership enables the account to save 80% of all its fees for the lifetime of the account, and allows the account to earn referral revenue from the fees of new accounts that it refers. This can represent a significant revenue stream for developers that onboard new users with their apps, like @chris4210 with blockpay. It saves a large amount of money when creating user issued assets, which cost over 7300 bts for a 5 character asset name, or 1400 with a lifetime membership. This will save back the lifetime membership cost in 3 assets.
The best training resource for starting in bitshares is Chronos
This is IMO the best explanation of the benefits of BitShares:
People can get excited about bitshares because it has the best decentralized exchange capabilities in the entire cryptocurrency space, has the fastest blocktimes in the entire cryptocurrency space, and is the only cryptocurrency to enable market pegged assets, or smartcoins, for holding stable value. It currently has a strong startup scene, with BlockPay, OpenLedger, PeerPlays, Apptrade, and many others planning to utilise its network in the future. Bitshares incorporates an entire stock market ecosystem onto the blockchain, that is easier to use for creating digital assets than ethereum tokens.
A great way to learn about bitshares is to read the whitepaper here: http://docs.bitshares.eu/_downloads/bitshares-financial-platform.pdf
You can explore the blockchain and see just how many assets there are here:
https://cryptofresh.com/
Thanks for a great reply. I understood much of #1 but it didn't add up for me until you mentioned app developers and how that can work for them. That makes a lot of sense. Would you say it only makes sense to become a lifetime member if you plan to release your own assets? Otherwise the math just doesn't make sense to me.
Is the whitepaper kept up to date (unlike the Steemit whitepaper)?
Thanks for the videos, I'll check them out.