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RE: I think I'm starting to 'get' Bitshares - bitCNY market cap grows a lot - China moving to DEXes??
Thanks for the 411 @pandorasbox.
I have a bunch of bitshares yet this is news to me. I do appreciate the work you put in to uncover this. It makes me very very happy to read it.
BTS appealed to me because of the DEX. At some point, I feel many people will be banned around the world from buying crypto. Hence, the need for something decentralized. Going after the exchanges is the only place that governments can realistically combat cryptos....they cant stop them so they have to go after the on/off ramp/
You're very welcome! And thanks so much for your support!!!
Yes I agree DEXes are awesome and the future. What held me back was the unfriendliness of the UI. I just didn't see this competing with other exchanges which are more easy, offer better prices, more liquidity and markets, etc.
But now that I've realized that Chinese people are seeking refuge in Bitshares, I am seeing the light finally!
I also think it's a very interesting development if this continues.. it's going to be interesting to see how the Chinese government deals with a decentralized network, and if they can do anything about it. In a way it could be a 'test' to see how well crypto can stand up against 'the system'. And china's system is formidable.. so if it works there, it will work anywhere.
I am going to hypothesize China will not be the last government to take this step.
And that might well be one of the major advantages to BTS....any country that "bans" crypto can be gotten around simply by getting on BTS.
Definite food for thought.