The Old Dog Explains: Why I Exchanged Bitcoin For Bitshares

2 months ago
70 in bitshares

I have long been an admirer of Bitshares and have followed the project since its inception. As many of you know Bitshares was the brain child of Dan Larimer and Steemit was built on the technology that he developed for Bitshares. 




Disclaimer: This is not financial advice.

The fact is that many insiders and tech experts have long considered Bitshares to be a sleeping giant just waiting to take off. There are several indications that Bitshares is about to do just that!

Why so Much Optimism About Bitshares?

  • The CEO of Cryptonomex (the company that developed Graphene that Bitshares, Steem and other blockchains are based upon) has been greatly increasing his personal holdings in the last little while! 
  • The much anticipated Stealth (which allows anonymous transactions) is about to be launched on the testnet and will soon be available.
  • Last week the Bitshares network was stress tested and has already attained 3,300 transactions per second! The next stress test will be aiming much higher!

If you want to know more about Bitshares there are many excellent articles posted right here on Steemit!

Uncertainty Over Bitcoin

With the uncertainty over whether or not Bitcoin will fork into two different currencies I decided to exchange 1 Bitcoin for Bitshares. I see very little possible downside to Bitshares but the possibility of a huge upside. I am buying and holding as I have been doing for several years now.


I hope that you enjoyed reading about my optimism over Bitshares!


Until next time,


@kus-knee (The Old Dog)

Remember, I reward the best comment(s) on each of my posts with my "The Old Dog is Throwing You a Bone" program! So please re-steem and follow so that we can spread the wealth!     

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72
  ·  2 months ago

"This Summer!"

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70
  ·  2 months ago

Thanks for the cool gif!

70
  ·  2 months ago

This title caught my eye, I made a note to come back today and check this out.

TY for the post sir.

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70
  ·  2 months ago

The Old Dog is Throwing You a Bone For Your Nice Comment!

Please check your wallet!

Remember: I reward the best comments on all of my posts so continue to follow me and tell your friends!

60
  ·  2 months ago

One of the best things about it, is that Blockpay token is traded on Bitshares DEX. I consider Blockpay to be one of the things that might bring cryptos to widespread adoption. :-)

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70
  ·  2 months ago

You sound like a very knowledgeable dude (ie. in the know)!

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60
  ·  2 months ago

Thank you. I actually have Steem to thank for that. Thats what got me into the world of crypto. 5 months, one SteemFest later I am running my own witness node for Golos, and participating in some cool crypto projects involving bitshares (and something else as well).

I myself consider @kingscrown (who does a lot of posts about crypto) and @steempower (who does weekly Bitshares State of the Network posts) and of course @officialfuzzy (who runs Beyond Bitcoin, which is uber-cool) to be knowledgable. Hope I didn't miss anyone. In fact both Steemit has a thriving Bitshares community, but also there is a Bitshares Telegram Channel. I urge you to check it out, since it is a good time to keep an eye on Bitshares (especially if either the current pump is over, and it isn't), besides DEX is really cool, and there is a ton of stuff in the pipeline (hopefully some marketing too!). Still it is best to learn about things before using/investing.

After some thought I decided that it might be also good idea to shamelessly plug the thing that I am part of, that is @blockchained, we have a Steemit witness too!

Edit: typos & shameless @blockchained plug. :-D

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70
  ·  2 months ago

Thanks for this info!

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70
  ·  2 months ago

Yes I agree. I also hold Blockpay and I had the pleasure of meeting their team in Munich.

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68
  ·  2 months ago

I think I will buy more BTS too! I will hold them tight as I hold my steem! Great article Old Dog! Thank you very much for this information!

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70
  ·  2 months ago

Thanks for the support @the-future!

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68
  ·  2 months ago

You made me realize how important BTS is and it's great to hear from you and @oneuponatime that you both invested in BTS. It makes me do the same, soon I make some money for investment only. I will not do stupid things to invest more than I can't afford.

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70
  ·  2 months ago

Good points. For me it's just a little diversification.

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70
  ·  2 months ago

The Old Dog is Throwing You a Bone For Your Nice Comment!

Please check your wallet!

Remember: I reward the best comments on all of my posts so continue to follow me and tell your friends!

67
  ·  2 months ago

Man, if i had money, Bitshares is where I'd put it right now! Thanks for pointing out what needs to be said and understood. It is not only a giant, it is the seed of all giants right now! Good for you for investing into and giving us heads-up on the matter of its creator's investments. All for one and one for all! Namaste :)

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70
  ·  2 months ago

Thanks Mr. Encourager! I hope that all is well in beautiful B.C.

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67
  ·  2 months ago

Thanks a bunch, Northern B.C. has been smiling at me for quite a while and is still doing so quite easily. Namaste :)

67
  ·  2 months ago

I agree with the facts that you have sited and we've been buying bitshares because we feel it is a good opportunity.

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70
  ·  2 months ago

Who really knows what will happen but it is good to diversify.

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67
  ·  2 months ago

Agreed. There is a palpable energy around bitshares...felt the same way about Dash a few months ago, but didn't buy in. Bitshares feels even better to us...time will tell Old Dog. ;)

41
  ·  2 months ago

nice post.
Resteem.!!
@kus-knee

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70
  ·  2 months ago

Thanks!

60
  ·  2 months ago

Buy in thirds...
Sell in thirds...
"thirds rule strategy"

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70
  ·  2 months ago

Ever since you explained all your 1/3's rules to me, I have been thinking about it daily pretty much, true story.

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60
  ·  2 months ago

Eventually "thirds rule strategy" will sink in not only on Google

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70
  ·  2 months ago

I'm drilling that into my thick skull!

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60
  ·  2 months ago

takes time, not mad at you

55
  ·  2 months ago

HODL. Perhaps a good move if ur a daytrader. If not, I doubt you'd be unhappy money wise if a fork happens if ur a holder. Short term perhaps, but long term I doubt it'll matter

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70
  ·  2 months ago

Good point!

56
  ·  2 months ago

The CEO of Bitshares has been greatly increasing his personal holdings in the last little while!

What CEO? There is no.

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70
  ·  2 months ago

My bad, slip of the fingers. I've already edited it. Thanks!

57
  ·  2 months ago

thx for the insights. also considering adding bitshares to my altcoin portfolio.
Go BTS

64
  ·  2 months ago

In a previous post, I asked the community to help me assess Ethereum vs Steem as the best underlying infrastructure for a project of mine. One key requirement in my project is the possibility to issue custom tokens, which Steem currently lacks, while Bitshares supports it. Now I am inclined to use Ethereum, but your post is making me think again...

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70
  ·  2 months ago

You could head over to the forums at BitShares and ask away. Very knowledgeable, friendly and helpful people over there!

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66
  ·  2 months ago

"Guys, have you been wanting to know about bitcoin?" The old dog has a great tip! Time to work!

66
  ·  2 months ago

thats good news. i am expecting great things from bitshares.

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70
  ·  2 months ago

Thanks @solarguy I remember with fondness your great article on tree planting in the Canadian wilderness!

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66
  ·  2 months ago

haha. thanks man. you're also not forgotten from the days long ago. ^^

54
  ·  2 months ago

Excuse my ignorance but what exactly are bitshares? New to the whole crypto world

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49
  ·  2 months ago

https://bitshares.org - the best managed cryptocurrency, from a technical perspective, at least.

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54
  ·  2 months ago

great thanx

66
  ·  2 months ago

I won the whale vote contest - watch out! Good things coming!

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70
  ·  2 months ago

Thanks @ebryans!

67
  ·  2 months ago

Don't really know very much about it, aside from recalling Dan's involvement... but I am very much a neophyte when it comes to cryptocurrencies.

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70
  ·  2 months ago

It's a strange new world. Actually Steemit is a great introduction!

58
  ·  2 months ago

Nice...old dog ! :)

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70
  ·  2 months ago

Thanks!

67
  ·  2 months ago

Thank you very much for this information! Until now I was more focused on DASH, but I have a few bitshares in my portfolio, too. It's hard to predict whether bitcoin will defend its pole position. So the best advice seems to be to diversify your cryptos into several hot candidates.

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70
  ·  2 months ago

Very true. I'm sure that we could all learn a lot from you!

65
  ·  2 months ago

Uncertainty over Bitcoin is a huge issue right now. I like the fact that you used it in your title. Tonight I even wrote a post talking about something similar and I thought I was throwing myself under the bus for it. It had to be said though! :)

Good post.. and good decision. Bitshares is well worth the price it is selling at today..

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70
  ·  2 months ago

Thanks so much and thanks for referring to your article. I'll check it out!

58
  ·  2 months ago

Someone promoted your post. Promotions help every steemians.
Your reward is an upvote and 0.017 SBD extra promotion.
Good job, see you next time in Promoted! ;)

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70
  ·  2 months ago

Thanks so much!

30
  ·  2 months ago

Thank you for precious sharing. :)
I will join BTS community.

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70
  ·  2 months ago

It's worth looking into!

59
  ·  2 months ago

Bitshares is a beast. I also love blockpay. I mean cmon POS using cryptos. How can that not be amazing!

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70
  ·  2 months ago

Yes indeed!

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70
  ·  2 months ago

The Old Dog is Throwing You a Bone For Your Nice Comment!

Please check your wallet!

Remember: I reward the best comments on all of my posts so continue to follow me and tell your friends!

60
  ·  2 months ago

I love it. I mined Protoshares and later spent Bitcoin on the ICO (Angelshares). Sold maybe 25% when the price was high. Been HODL ever since. Agree that this coin and technology has a bright future.

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70
  ·  2 months ago

It would be interesting to read an article written by you based on those experiences.

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60
  ·  2 months ago

That's a great idea. I'm not sure if I would want to isolate one crypto currency to write about since my history with the scene involves debating how to acquire them and in which proportions. Buying miners (GPU then ASICS) buying and selling, trading and getting taken by a number of scammers. Might be cool to write a series documenting my history because it was a huge learning experience which might help others not get burned.

In other words focus on Bitshares alone doesn't tell the whole story which in sum is difficult to untangle.

Thanks for the idea. Hopefully I can recall details well enough to put it together.

61
  ·  2 months ago

I did the same and bought me extra
https://steemit.com/bitshares/@steemspoker/i-bought-me-some-bitshares-en-nl
Resteem and upvote!

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70
  ·  2 months ago

Great I'll have a look!

61
  ·  2 months ago

Thanks for sharing this info. As a newer user here and a total noob as far as cryptocurrency (I have yet to spell cryptocurrency right yet without spellchecker help lol ) goes, any such info is regarded as highly valuable to me.

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70
  ·  2 months ago

I'm an old guy too so we're in the same boat!

61
  ·  2 months ago

Thanks for sharing! I managed to buy in at 353 and will be buying some dips. Fantastic insight and explanation.

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70
  ·  2 months ago

Thanks for coming!

57
  ·  2 months ago

"Old dog" sounds like a title that is earned. Did people start calling you that due to your incredible success, this you earned the name, or did you just randomly start referring to yourself as it? Just curious

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70
  ·  2 months ago

Hi thanks for your visit. The name actually came from the first articles that I wrote here on Steemit. A series of three "Can an Old Dog Learn New Tricks". It stuck and I adopted it.