A Moment Of Realization: Why I Dumped My Ethereum and Bitcoin And Bought Bitshares Instead
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.
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.
That isn't fun @pal. I've enjoyed some good rises with the ETH. Time to see an explosion with BTS.
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!
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.
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...
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.
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. :)
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.
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.
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?
Come join the Whaleshares Discord sometime... lots of people there with tons of BTS knowledge.
Added the channel to my discord app - see you soon.
Is there an app you can use on your phone? I've been using it on a laptop.
There is for iOS, and it looks like there is one for android as well.
That's great! Thank you, will use it more on my phone for certain.
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.
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 !