RE: Investigating the Top 50 Cryptocurrencies, Part 1/50: BitShares
Superb post, thank you, and I look forward to the next 49!
Bitshares is easily the most undervalued token on the market measured by any metric - utility, adoption, development, track record, security, speed, scalability, funding, good news, new features, community etc. etc. Compared to the other tokens on the Top 50 list BTS should easily be in the Top 10, or imho, Top 5. But it's No. 50. Why?
My theory is pretty simple. Most of the Top 50 are shitcoins with no product, limited user base and poor development. But they keep popping out of nowhere and running up the CMC list. Someone is pumping millions and millions into shitcoins that do not provide any rational basis for investment.
This pumping is happening on exchanges. Coins get listed, they get bought like crazy, and then sold like crazy to the FOMO investors.
So we have exchanges that are listing shitcoins and someone on the exchanges who is pumping shitcoins to insane valuations and then someone on exchanges who is selling to greater fools.
So now go read about USDT. Follow the money, as they say. :)
Do you think that part of the reason it's undervalued is that BitShares is more challenging to use than a traditional, centralized exchange?
I'm pretty experienced with cryptocurrency and even for me it's taking a little bit of time to poke around and understand the system... it seems plausible that crypto newbies without financial experience would have a hard time with it.
As far as shitcoins in the top 50 are concerned - I look forward to finding and revealing them all 😈
I'll go and read about USDT... sounds good to me 🙂
Hi John,
I know from previous posts that you also buy Eos as well as BTS. I bought my first tranche of Eos yesterday on Kraken and transferred to the Bitshares DEX. But is there something I need to do re registering the tokens?
Would appreciate any guidance.
Thanks