A Moment Of Realization: Why I Dumped My Ethereum and Bitcoin And Bought Bitshares Instead

in bitshares •  last year

I wish I would have trusted my gut on numerous occasions during my life.

I wish I would have asked my wife to the homecoming dance. I knew I shouldn't have taken that 8am class on Friday. I wish I would have bought more STEEM when it cost a mere dime.

I'm done doing what others tell me I should do with my investments. I'm going to trust my own research and instincts.

That's why I sold all of my ETH and 90% of my BTC today and bought a boatload of BTS. Here's why.

Disclaimer: These are my thoughts only... trust your due diligence and research, not mine!

Scalability

Ethereum's problems with "gas" and Bitcoin's incredibly high transaction fees are a long-term problem. Bitshares has no such problem, routinely pumping out hundreds of thousands of transactions per day with almost no fees.

True Decentralization
There has been no ETH vs ETC hubbub. There is no Bitmain vs Core controversy. Only a decentralized platform that is humming along. In the crypto world it is rare to see something running so smoothly that is still being actively developed.

Partners
As Graphene blockchains continue to pop up, so too do the synergies with Bitshares. Steemit, Golos, @peerplays and @eosio to come will all be an important part of the ecosystem built around the platform.

Marketing
When listening to any of the #beyondbitcoin hangouts you hear from the likes of @stan about the marketing push that is going to happen. It has already started with his contest announcement surrounding the HERO token available on the BTS platform.

Versatility
Exchange Backed Assets, Privatized BitAssets, Fee-Based assets... they are all here. With the advent of User Issued Assets, one can seemingly bend the Bitshares platform to your will. Create a token with a special usage case, drop shares on BTS holders or create your own trading pairs. The sky is the limit. We've got VIRGROW, WHALESHARES, @zappl, @steemfactory and so many more tokens that are helping people today.

People
I've never seen or heard from such an amazing group of people than the BTS community. @officialfuzzy is to blame for getting me into this space and I can't thank him enough for introducing me to the right people and the correct sources of information. Listen to the hangouts, join the community. Even if you don't buy a single BTS, what you gain in information will be worth your time.


Maybe BTS will crater and I'll look like a fool. Perhaps BTS will explode and I'll be able to do things unimaginable to myself some three months ago. Either way, I'll know that I trusted the person that I should have. Myself.

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I hope this will be right decision for you. I dumped all my BTS to STEEM once and it was very painful to watch how it rises.

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That isn't fun @pal. I've enjoyed some good rises with the ETH. Time to see an explosion with BTS.

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I'm not kidding 😐

I have been buying BitShares regularly since it was below 1 cent and I'm still buying regularly now at about 33 cents!

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whats it at now? and i'm trying to get some just can't find a good wallet to store them any ideas guys? for mac or android?

That's a detailed explanation of your choice. Sounds legit, thanks. Personally I have ZERO bitshares in my crypto profile, I guess I should start buying some with the Steem dollars I earned in this amazing platform to diversify my portfolio.

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I've done just that. I power up most of my Steem, but will send some to OL on occasion for Bts or OBITS.

Bitshares is one of my core holdings and I fully expect to see it at >$10 within the next 12 months. At the current price it is the worlds first and only profitable DAO and has a $300M reserve fun to use for development and maintenance. Projects are being built on it, like Peerplays. Blockchain transaction volume is one of the highest in world - it is actually being used. The DEX is excellent and is growing in volume organically. I don't know if Stan's HERO project is going to work out, but the goal of this contest is put the price of BTS at >$300 within a year. It could happen...

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Thanks @johnsmith - agree 100% with the points you're making. It's not a possibility that BTS could be huge... it IS huge. And growing.

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So I just borrowed HERO into existence on the DEX and have to say it is a very easy thing to do. I then sold it and placed a buy order to buy it back cheaper than I sold it for. It sounds insane but now that I get it I see what Stan is trying to do and it is pretty freaking powerful. But it all depends on BTS going up and not down. But... if BTS goes up... it is going to be full on crazy pants time. :)

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I want to engage in this process in order to have a complete grasp of the concept of Hero. Still trying to wrap my brain around it.

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I did it once for fun as well. Made 5 BTS quickly and easily. Crazy Pants could really happen if people lock up that much BTS as collateral, diminishing the supply.

I have no extensive knowledge of bitshares, but to me bitshares looks like the shovels sold during the gold rush. You're going to make money regardless whether the gold miners find gold or not. Bitshares seems to be an integral part of the very technology which so many of the crypto coins rely on. As you said more of a gut feeling.... could be wrong.

Maybe BTS will crater and I'll look like a fool. Perhaps BTS will explode and I'll be able to do things unimaginable to myself some three months ago. Either way, I'll know that I trusted the person that I should have. Myself.

Gotta love the honesty there.

I have casually been looking into bitshares over the last few weeks. Like you, I am growing tired of the weaknesses of the two main cryptos.

Any channels aside from the ones you mentioned I should take a look at for more info?

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Come join the Whaleshares Discord sometime... lots of people there with tons of BTS knowledge.

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Added the channel to my discord app - see you soon.

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Is there an app you can use on your phone? I've been using it on a laptop.

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There is for iOS, and it looks like there is one for android as well.

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That's great! Thank you, will use it more on my phone for certain.

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You're welcome!

That was my thinking as well. I don't check my laptop for messages nearly as much as I check my phone, haha.

So true. Ive missed a few boats when I was younger. I chalk it up to not having done the proper research and being inexperienced.

Now, I don't care if Warren Buffet tells me not to invest in something. I do my research, understand the risks, and pull the trigger when I like it.

I promised myself I wouldn't ever miss something because I didn't know enough about it or I heard it was not a good investment.

I'd rather lose everything based on my decision than to miss a huge opportunity based on others' possibly misplaced negative opinions.

Great post.

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when I was trying to tell a couple of investment bankers about Bitcoin 5 years ago, they thought I was crazy. I will never listen to the people in the traditional financial bubble again. like you said, Warren Buffet or not!

I brought over 3,000 bitshares when it $0.008. And I move most of my bitcoins over to steemit. If I could go back in time, i would buy a lot more.

I have some stink bids for BTS, but not sure they will ever hit! I want to get some more and unload some of my ETH..

I get your point , i also have some BTS and i am really happy about !

bitshares smartcoins are the game changer... Even if they use bitshares smartcoins only for hedging (bitCNY,bitUSD,bitGold etc...) their crypto positions, the market cap will increase significantly more.

PS I mean after so much value increase in crypto space it makes perfect sense for every investor to hold some bitASSETs (and tether dollars is certainly not the best option)

This is great. No matter how it turns out, you've taken the bull by the horns, made the decision, acted boldly, and now own the decision. You will learn lots of good things either way if you don't get too affected by either success or failure and keep an open mind to learn as much as you can.

Your article makes me think I should check out Bitshares. I've been ignoring it up to this point.

Another coin you should take a look at is NEM. It's also a block chain that allows for other tokens to be issued on it, like Ecobit. I've owned it since the beginning and it's grown a lot. I do buy it here and there on dips, but would have a bit of concern about putting too much into it at this stage, so definitely do your homework on it, but I wouldn't want you to miss at least knowing about it.

But don't let me tell you what to do LOL :) Just passing along a tip.

Other coins: DNotes, Diamond. totally undervalued in my opinion. There are so many I don't even know about.

Bold move! I wish I have the same conviction as yours to go all in on one coin you fully believe in. Still playing it a bit safe.
Best of luck!

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Keep playing it safe, be diversified. It would be a shame if most early adopters eventually gambled it all away and the fat cats owned most of all crypto currency. This is likely to happen, though.

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Yeah, I'll be keeping a diversified portfolio for now. This is what I'm comfy with now. I hope your prediction is wrong on fatcats though.

This post received a 5.0% upvote from @randowhale thanks to @nepd! For more information, click here!

Good call!!

If I read your post this morning ..I will definitely buy the BTS, unfortunately , I invested on ETH. Great post..upvoted

@nepd well done man! Always trust your instincts! You definitelly made the right decision! So far I only had loses with bts but im holding it because i trust in the project just like youself...hope you are right for the benefit of we all! Greetings from spain amigo! :)

Interesting choice to hear about. :)
shared on twitter

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virtualtoken Virtual Growth tweeted @ 18 Jun 2017 - 17:55 UTC

A Moment Of Realization: Why I Dumped My Ethereum and Bitcoin And Bought Bitshares Instead — Steemit

steemit.com/bitshares/@nep… / https://t.co/cYyWI1AVKB

@Beyond_Bitcoin

Disclaimer: I am just a bot trying to be helpful.

good article i enjoyed it, i also have been peeking at bitshares but havnt yet pulled the trigger, maybe i should grab a few before it explodes! worth a shot i would say, thanks for the tip

I have been analyzing Bitshares for quite sometime now. I have also done the technical analysis of the same. It's really a good crypto to invest for sure. But as per my opinion, it's a bit overpriced for now and it's been declining for almost a week. May be after few days, it would be a good option to consider.
But that's only my opinion. If your gut tells you to invest, go for sure. A big thumbs up for you.

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I think it's severely underpriced.

Especially with confidential transactions in the near future, Bitshares will be in a really good place.

It does everything #bitcoin does, except orders of magnitude faster, and it will be private too.

Great companion to #monero and #bitcoin.

Personally, I think going all in on just one thing is too much risk. Better get used to wild, wild fluctuations in your portfolio.. and it won't always be going up.

Wow that is a bold decision to bet most of your portfolio on BTS! But I understand that you have to listen to your gut (that's what made me successful with Dash), and in your case, that gut instinct looks to be backed by solid research and reasoning.

Aren't the Bitshares developers the same as the Steemit creators? I remember reading that.. if so, I am inclined to believe in the potential of BTS, knowing how amazing the Steemit platform has been working. Currently I own no BTS but I am starting to think I should!

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Aren't the Bitshares developers the same as the Steemit creators?

Stan and Dan Larimer. So I think you are correct on that.

very satisfy with bts lately. It's the tech behind the crypto that will make the community see the value behind it s they uses it and see the outcomes outta of it that help make it soar ;)

wow heck yeah thanks for this info. I was just about to buy Ethereum, Bitshares here we come

Bitshares was rising over last few days but seems to be sticking at the moment but looks like a good way to earn should the trend continue how it has been over the last few days. Peerplays is at $11.22 right now and a good price for those wanting to start out with crypto currencies and can easierly exchange their tokens. Thanks for the info @amadat
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3 ago i bought bitshares!!! not many 200 but I am glad for that!!!

Love your show of strength and faith in yourself and decision making :) was thinking of increasing my position as well. I was in learning mode first, but I am starting to realize that I will always be in learning mode with this crypto currency stuff. I listen to my gut a lot - after learning as much as I can for my decision, without over thinking!!! Always take action!

Is there not any concern about how complacent Bitshares seems to be regarding interactions with the traditional banking systems? While this may start a good trend and a good partnership, it also could lead to Bitshares adopting certain undesirable features of the standard banking systems.

cognitive

Good post. Let us know how it goes.

Following to see how this works out for you! Bitshares, people either love em or hate em. I have no opinion.

I'm a bigger fan of diversification, but that may just be my risk profile.

It is fascinating to see how many real-world apps the Graphene blockchain is supporting or starting to support. It seems to just be quietly chugging along in many cases compared to the celebrity and glamour of the other chains.