Bitshares's Evil Plan for Cryptocurrency World Domination
original written by @tianlai in Chinese: https://steemit.com/bts-disneyland/@tianlai/6en9au
translated to English by @lyfeng
The title borrowed the statement: Steemit's Evil Plan for Cryptocurrency World Domination by @dan: https://steemit.com/steem/@dan/steemit-s-evil-plan-for-cryptocurrency-world-domination
BitShares 2.0 is the first industrial-grade decentralized platform built for high-performance financial smart contracts. It contributes many brand new ideas and technologies for the virtual currency world , such as Delegated Proof-of-Stake (DPOS), Price-stable Smart Coins, extremely fast confirmation within 3 second, and VISA level of transaction processing. Some of them has been adopted by Lisk, Steem, and so on. However, its market cap was far underestimated, which is only 1/2 of Lisk and 1/24 of Steem. Therefore, the main propose of the article is to draw up an evil plan for BitShares to substantially improve its market valuations.
II The Evil Plan
A. Pledge the 1.2 billion BTS reserve funds to increase liquidity of trading inside the BTS platform
One important reason for Ethereum and Steem obtaining overestimation is their tokens are very concentrated. For example, the steem platform holds most of the its currency and the DAO collected 1/3 of Ethereum coin. Therefore, the community of BitShares should intervenes the market. The method is to pledge the 1.2 billion BTS reserve funds and use them to produce more Smart Coins, such as BitUSD and BitCNY. Then Smart Coins will be further used to buy more BTS on the BTS platform . By this way, liquidity of trading inside the BTS Platform will be increased and the BTS Platform itself will domain the BTS exchange. When the estimation of BTS is increased substantially, it will be easy to discharge the Pledge.
B. Reference experience of Ethereum, found a DAC based on the crowdfunding of BTS
The DAC will in charge of market shares issued, recommendations, regulation and other functions. As the lead investor, the DAC will invest the projects inside BTS platform, which will further concentrate the BTS and the BTS will be more and more precious.
C. Reference experience of Steem, the dividend of reserve funds and the DAC will be in the form of BTS and holding Smart Coins will earn interest
The purpose is to encourage people to use, hold and store smart money and keep BTS in their wallet, will reduce the selling pressure in the external exchange. This is the key point that BitShares becomes a bank.
D. The community of BitShares should introduce strategic investors with the reserve funds
When strategic investors investigate the BTS, more and more people will be glad to do the same thing too.
E. Suggest openledger reserves BTS and Smart Coins and use BTS and Smart Coins as endorsement to issue virtual currency
When the market cap increases to a high level, openledger will like to do so.
History always remember the winner and forget the cowardice and the failure. Let us work together! To be strong and to be the winner!
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