RE: What’s BitShares really worth?
Sorry I think I was mistaken, the suggestion was HyperDEX, not HyperLedger (which is something else entirely). But yeah, I think the DEX part of Bitshares is the most important to market. The governance system really is not the most important part of most crypto's (on the front end anyway). And the decentralized exchange part is pretty easily understood these days, and it's purpose of exchanging money. Mind you, the biggest thing that's tradeable on Bitshares is (imo) Bitcoin, and not BTS. Trading Bitcoin is what draws people to Bitshares/OpenLedger, the Bitshares themselves may be what makes them stay but first they need to be there.
I mean, theoretically NEO is called 'NEO shares' too, but I'm pretty sure that if it were listed as 'NEOShares' everywhere it would have been less succesful (see: Antshares)
It's a simple marketing matter: Do you want to appeal to stock market investors, or the 'big audience'? If it's the latter then the marketing shouldn't be aimed at stock market people. If it IS stock market people, well... I'm not sure there's too much chance for succes because stock market people aren't all that much into non-main Crypto's and in fact I believe most Bitshares users are more like tech-savvy types than stock-market types.
Also, tech-savvy types are notoriously bad at designing UI and effective marketing, so it really does fit the current picture of Bitshares :D
Stock market investors are the big audience . . . at least when referring to people who have money to invest.
Without a doubt, like all crypto, until now, and if you don't want to die on the vine, you'll need to broaden your scope, and if your business is facilitating a live auction process, that is to say, acting as an exchange, that means targeting the investment and trading market.
That's what partnering is all about - the tech savvy types do what they do best and the marketing/business types do what they do best.
It all sounds too rationally minded to me. Marketing doesn't work on ratio though. Just look at the iPhone. Open source programmers would've never chosen that name. They probably would have chosen a more rational, descriptive name, something like 'DigiDevice'.
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Stock market types are the big audience yes, but they want what the public want because those stocks go up. Not because the name appeals to them. See again Apple's iPhone example. The public wants it, investors anticipate on it. As long as the public wants it, investors will come.
As most major investors are fearful of touching Bitcoin in today's world, even on fairly safe exchanges like GDAX, they're never going to touch BTS unless the public chooses it first as it's champion. As has happened with Bitcoin. Now we need them to choose Bitshares, but apparently they're not doing it right now.
He who controls the mob, controls Rome.Get the mob, the investors will follow. And sadly, the mob has basic instincts which require more flash.
This is probably where our differences of opinion stem from. I agree with you that BTC was first adopted by tech types, and then some everyday average Joe's, but now there is undeniable huge institutional interest in BTC, and this is where our opinions diverge I believe: crypto is currently being taken over by professionals, by big money, and there is no going back. What that means is that the survivors will be those sought after and supported by big money.
The public loves the iPhone precisely because of its catchy name, and, of course, because it is the product of a stock market darling. To be sure, it’s a chicken or the egg argument, but one thing’s for sure, in general, once big smart money is involved, if you don’t have it on your side, you’re going nowhere.
If BitShares is going to survive, it must not only target that market, it must also to cater to it just as it expects to be catered to, (i.e. top notch product delivery with a catchy sounding, easy to remember name.)
Edit: the mob often ends up in its own guillotine, especially when it comes to investing - they usually don't have a clue about long term survival.
But BIG institutional money does not invest without back-ups or failsafes. I have heard many serious investor say they don't even touch certain exchange platforms, because those platforms don't offer the insurances that they require to safeguard their wealth.So while the definition of 'smart money' is up for discussion, I don't think the big institutional investors are at all much invested in most smaller cap coins, because the trading platforms that they trust their millions to just doesn't support that crypto and they are not risking their money elsewhere.
What I do think is that some big Bitcoin whales have invested in those crypto's, but they are very different from institutional money I think.
Also the mob isn't needed for investing, they are needed as users. Once the users are there, it is interesting for investors.
As it stands the current name doesn't draw much new blood in, I myself must admit to have not checked out the platform for many months until quite recently because it did not appeal to me. After that, I of course had another hurdle with the UI but that's another story.
I truly believe that if Bitshares/etc. focuses on becoming the easiest and best DEX as it's prime focus (as well as in name), it would be in it's best interest. People would be drawn in by the security, cheap costs and ease of use.. why would they ever go back to traditional exchanges? That is in my mind the true potential of Bitshares. The whole 'shares' aspect of it might just as well be hidden behind the curtains, and only visible to more serious investors (just make a basic and advanced version, or different interfaces.. smart money will figure it out).
I'm glad you liked the HyperDEX idea. I came up with that a few weeks ago.
https://twitter.com/kevinmesserly/status/920405301370683393
IMO, HyperDEX sounds heavy metal, over active, blunt and harsh, leading to a subconscious association with a cement wall dead end that collapses on you.
It doesn't hold a candle to BitShares, which rolls off your tongue in a delightfully catchy manner in just 2 wonderful syllables, leading to subconscious association with a continuously inclusive plurality on an endless road to the future.
Yeah! DEX is a hot topic these days and will draw enough attention to it. 'Hyper' makes it sound flashy, which is good too.