Bitshares smartcoins gain significant growth
Ah! Once again the boring smartcoins! Which are not so boring after all once you get to understand them and the usecases they represent. This growth is largely driven by exchanges adopting them as replacement for tether or other solutions.
And the numbers keep piling up, people!
As I normally do, I look at total market cap I USD.
BitCNY:
BitCNY grew from 50 mUSD last week to a whopping 71 mUSD at this moment.
BitUSD:
BitUSD was at 23 mUSD last week and at 26 mUSD at this very moment.
Which leads to:
A greater demand for bitshares:
This is how it works, folks. Smart coins use bts as collateral to keep something of value backing the coin in question. And simple logic says add bts to your cryptofolio when the demand for smart coins rise. Since it's so easy, it would be tempting to advice shorting the smart coins. But I don't, unless you understand what the potential risks shorting implies.
The trend is however clear as day.
Smart coin It is very difficult to understand when that happens, Thank you funkit.
Bitshares is very easy. If you have it, hold it. If you don't, consider adding it. The smart coins is something you can learn about later on.
thank you.
Thank you for the update bitshares is looking good. EOS Steem and BTS all looking strong for 2018. What do you think about Wanchain? It looks like they will be doing something similar to Ark with cross chain technology. Their tokens are supposed to be released this month.
I don't know wancoin I doubt it has much impact on ark. Which is off topic.
Thanks for the post. I also think smart coins are one of the strong selling points for bitshares. I started to short bitUSD to buy back bitshares and then adding the new bitshares to the collateral. I slightly risky strategy but I believe bitshares still has room to grow.
Yeah its risky. At the same time not so much if you have a strategy and enough funds for a exit.
I'm not so worried about the margin call, it's more the forced settlements that can take people by surprise and be illogical. I read that some people with quite high collateral have been settled. It happened to me when I was playing around with a small amount of bitCNY but luckily bitUSD seems to be a bit more fair.
Yeah, it takes some getting used to. But when managed correctly it is fun.
Good info. Nice post you fren
I wonder all those guys who have been calling bitshares a failed project will say.