This week has been quite a ride in the crypto world. An overflowing handful of tokens on the exchanges have reached their all-time highs. Bitcoin is on trajectory 'to the moon.' Ether has multiplied several times in value over the last couple weeks. Recently launched Ethereum-based projects like Gnosis, Golem, Matchpool (GUP), iex.ec, and more have multiplied. Ripple, Stellar, Litecoin, Namecoin, Monero... you name it, it's probably soaring to new heights.
Crypto is picking up momentum.
China's diving in. Japan. South Korea. India. This is indeed becoming a global phenomenon.
Those who bought in early, are likely pretty happy right now. Those of use who 'missed the boat...' well, maybe it wasn't missed. Relatively, we're still in the early phases of this growth. There are plenty more opportunities to come - both for profit with cryptocurrencies, and developing new applications for blockchain technology in a wide variety of arenas.
But for those who are wanting to invest, though weary about getting in now, knowing some retracements are indeed likely before prices continue rising - where do the best opportunities in the moment lie?
Well, none of us might have concrete answers to that. Let's assume for the sake of rationality that fortune tellers don't exist. And few of us may be so highly informed to offer concrete opinions as to what is undoubtedly going to rise in the market - despite what reasons there might be behind any predictions.
However, for the sake of discussion, let's consider one token that might have been overlooked by the majority of the crypto community, that could potentially represent a significant undervaluation at the moment: Bitshares.
For those who may not have heard about Bitshares - I'll leave you to do your own research, though will share a few perspectives as to why it might be worth looking at and getting into now...
Firstly: none of this is investment advice. I'm just sharing my personal perspectives, opinions, and knowledge gained along this path. DO draw YOUR OWN conclusions upon doing YOUR OWN homework.
Upon digging in to learn more about what Bitshares is and its history, it became clear that there appears to be a fairly strong community of developers and supporters who have been working consistently on it and its projects for some time. Though there have been critics - always abundant in the crypto space - who've questioned BTS' initial price decline, upon thorough research, one can find that this platform is far from anything resembling any overhyped pump-and-dump or scam coin. The people who invested into Bitshares from its early days were not doing so just financially, but seemed to have put alot of faith, heart, soul, time, energy, sweat, and tears into seeing their vision through. And while there are tons of trolls and haters in the BitcoinTalk forums always quick to cut down projects, I got the sense that those committed to the Bitshares ecosystem generally had a respectable sense of integrity.
While I'm not highly technically-inclined and don't understand the detailed particulars of how blockchains work behind the scenes, there seemed a consensus that Bitshares' MIT-licensed Graphene 2.0 technology is some highly-professional stuff built for large-scale industry. Again, I'm not knowledgeable to make statements on how good it is - though gleaned enough to sense it indeed may have some advantages over some of the other tech out there in the space.
Whereas other blockchain projects seemed focused on marketing and raking in huge impressive crowdfunding with the hottest ICO, it appears those working on Bitshares have been doing so much more on the down-low - getting their foundations set right, before scaling. Personally, I see this strategy as smart - ensuring the core base is strong to make sure growth can be sustained without complications. And, this really speaks volumes about the community's commitment - that they aren't just in it for the quick profit or to impress anyone with flashy success, but really care deeply about building something that makes a difference in the long-term. There was alot of reading between the lines, but what came through for me is that sense of care - the commitment, a sense of purpose - which did/does stand apart in the crypto space, where projects seem to be clamouring for the highest rankings and token price.
There are a number of applications & developments being built on the Bitshares blockchain and Graphene technology, that upon seeing the bigger picture, provide a perspective of a supportive ecosystem emerging. It was always bigger than just one coin. It was always about more than one project. Granted, the same could indeed be said about Ethereum. However, upon seeing the depth and breadth of vision and detail being built into the Bitshares tech, strategic approach, and project ecosystem - it again seemed to stand out amongst the crowd of tokens popping up overnight, competing for quick market domination.
Now, if you have a look on Poloniex... Dash & zCash are over $100. Litecoin and Monero are around $30. All these are relatively newer. And to my understanding, they're moreless just cryptocurrencies.
I could be mistaken, though I think the closest comparable project to Bitshares would be Ethereum - both being platforms upon which a multitude of dApps can be built with full smart contract integration.
Considering the fundamentals of the Bitshares community, I'd say the current price of near 4 cents per BTS represents a significant undervaluation, based on where it could be heading. Measure in it's prospects - if the tech is as good as some say, and the developments on the platform are well underway - versus the price of Ethereum at $100 and rising, Bitcoin into the thousands... there is definitely some upside potential.
Of course, I could be completely wrong.
Though let's also consider such small bits of info such as Dan Larimer's upcoming news release for his new EOS project. If this piece of tech is as good as it sounds, being presented at the Consensus 2017 event amongst the list of top attendees and speakers there - that's bound to draw some attention back to Bitshares.
Or perhaps even the potential consequences of one the leading figures in the blockchain space, Consensys team member and resilience guru Vinay Gupta, choosing to use Steemit to publish his What does $100 Ether mean article this last week. Small fact, maybe. Though, of the thousands whose eyes may have been turned towards Steemit for the first time - who amongst them might look a little deeper to find out what this platform is about, discovering it's built on Bitshares' Graphene technology, and diving a bit deeper down the rabbit hole to see what else may be in store that's been culminating within the ecosystem.
Again, I'm no expert.
But, I may have been developing some sort of ability to recognize a few factors worthy of further investigation, if assessing the potential for projects in the blockchain space. And as such, I raise my finger to point you in the direction of doing your own research - should your curiosity be piqued and you be so inclined as to dig deeper to find what you might need to gain confidence in drawing your own conclusions.
I did an aggration/curation piece a few months ago, pooling together some great articles and resources on Bitshares that would still be a great recommended read:
What You Need To Know About Bitshares: A Newbie’s Map To Navigating The Platform, Tech, And Community...
And for a collection of consistent updates on Bitshares' developments and projects happening on the blockchain, I recommend following and reading the great posts on here by:
As well, @stan - Dan's father, whose been an instrumental player in the fruition of the tech and ecosystem - has some great stuff on the history of Bitshares on his blog here, including BitShares to Change its Own History. Also might wanna read Why BitShares is not already worth 1 billion dollar? by @estefantt .
So... happy info hunting... and if you've come across any other excellent articles on Bitshares that you'd recommend reading to anyone doing their research, please contibute their links in the comments below...