Why are people not gravitating towards BitShares ecosystem?
Having been involved in the crypto community for a few months now and having toyed around with the Bitshares platform myself, I am beginning to better understand what would ultimately make or break Bitshares.
The ecosystem has not achieved escape velocity
When I want to buy an altcoin, I should not have to leave the ecosystem and go to a centralized exchange like bittrex, and therefore incur extra fees. Even if the altcoin is listed, liquidity is so thin that it's pointless. I end up transacting elsewhere and my BTS is "dead money" in my BTS wallet.
Not enough marketing
The tech's great and all, but that in itself is an insufficient condition for a coin to do well. Hype is incredibly important as it is a positive feedback mechanism. Hype -> more people buy the token -> they tell others to give it a look -> they follow the token, join the Telegram channel etc. With sufficient marketing, more users come and actually test drives the ecosystem leading to my previous point #1.
Opportunity cost
Crypto speculators are incredibly fickle. They will gladly dump an underperforming coin for something that's hotter. This is the concept of opportunity cost. Why put your money in a "dead" coin like BitShares when everything else is moon-ing? Even if you believe in BitShares there will be days when you wonder if you could make a quick double on another coin and you come back next month and you would still be able to buy BitShares for the same price.
No sense of direction
While decentralization has its benefits, a fully decentralized management team can never work. This is why humans have organized themselves into hierarchical reporting structures since the beginning of time, where there is a leader / central reporting structure.
While I still continue to remain bullish BitShares for the time being, if there is no significant progress in these 4 points over the next 3-6 months as the rest of the cryptocurrency platforms continue to make strides, then BitShares is likely to go to zero by 2020 as BitShares loses the opportunity to take the lead in a very, very tight and competitive race.
The time is now or never.
I largely agree with you. The problem with your arguments is that you take it for granted we will be at status quo. We won't. There will be regulations. There will be tougher requirements for polo and trex. And bitshares or to be precise: the bitshares ecosystem won't sit on their fingers.
Openledger is scaling up to onboard up to 10 000(!) a day
Cryptonomex is finally going to show some of their marketing genius. It's getting late and it's been talked a lot about it.
Various developers are developing cutting edge solutions
The last updates to the dex has largely removed annoying bugs.
I'm afraid it's shooting for the moon but ending in the mud. Fundamentals don't seem to count these days. To many fortune seekers already lost to much money up from the beginning of June on BTS. Al that is keeping it up are promises. I don't think BTS gonna make it in this casino crypto place. But... I'm still holding. You never know.
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