So you want to be a crypto expert? #Part 2
800000 dollar worth of BitShares marketcap are floating......... they float.... they all float.....
As coinmarketcap is one of the most visited sites in the world, one can only assume that BitShares as the number 31 show on the list is being looked at over and over again. But most people watching the show, seem to leave the theatre, clearly dazed and confused. It is a complex performance for sure.
“They float, they all float... and when you're down here with me, fat boy, you'll float too.”
Once worth over 1 billion $ in terms of marketcap, what happened to all that money that was once part of BitShares?
Somehow over 800000$ that once touched upon one of the best acts in the world: BitShares, is now floating somewhere.
Don’t blame Pennywise though, the usual suspect.
There must be something else going on, @oudekaas has been on the case for a while now, trying to unravel this complex issue.
Trying to solve this mystery and like any good detective, he will start by collecting evidence.
Other clowns
First suspects would be the other top 31 coins around. So what acts are they performing? Could the missing 800K $ accidentally have landed in the wrong hands?
A detective must be trustworthy
I must try to be unbiased, keeping an open mind. For I have seen the act of BitShares and the other acts, therefore I can’t understand why this top performer is now dealing with reduced interest, whilst it’s act is just getting better every day.
Top performers
Some of the better well-known performing acts in terms of marketcap are: Bitcoin, Bitcoin Cash, Litecoin, Ethereum and Ethereum Classic.
Most of us know their act, but I also have to research all top 30 clowns to understand what their performance and act is like.
Concluding with an overall comparison between clowns in the same field versus unique operators. Perhaps the truth can be unraveled through this investigati
Coming clean
“Allright, stop the malarkey @oudekaas, the only one floating is you, we all know you are invested in BitShares and want to become rich!”
Darn, you bursting my balloon here. But hold on a minute, let me explain where I am coming from.
I have done a lot of research and right now based on the information available to me, I can only conclude BitShares has the biggest long term growth potential of all acts around. In the meantime I can’t sit still and just assume I am right, I will need to keep myself up to date to all investment opportunities available to us.
In order to feel better about my decision to go for BitShares, my ultimate plan is to give a full overview of the top 30- coins explained what they stand for and what relation they have.
Eventually trying to give each crypto a number in terms of longterm/ shortterm potential based on facts, properties, graphs, usage the whole shebang. Let’s see where this takes us.
So I started out with an initial layout of the first top coins, explaining what they do and what their differences are.
Hopefully building on it.
Ultimately I want to create a page that explains crypto and covers a coin in the minimal amount of words/ sentences without selling itself short. Covering the most important aspects and reasons for shortterm/ longterm growth.
A steemportal that any new investor can study and make it easier to choose, which coins are best to invest in based on facts
Ultimately trying to prove that there are better investment opportunities then BitShares as this is my current number 1.
For those new to crypto, I will endeavour to make links [blue words] to every difficult concept, so you can study whilst reading through it.
Slowly I will try to make the text more readable updating all coins and asking the devs to provide latest news updates.
So let’s start!
Ripple
Ripple works with banks, payment providers, digital assets exchanges and corporates.
It provides a clever way of transferring anything but mainly not-perishable, fungible goods (cash is good, gold is OK, as are cryptocurrencies, but can also be extended to beer and flowers, if the gateways want to deal in them.)
Rather then moving physical gold or actual money between gateways, IOU’s are tracked on the electronic ledger.
It is a clever clown which uses ripple to create shortest trust routes between gateways in order to move different currencies/ assets IOU’s between gateways. Trust is a major factor in transferring wealth between gateways, through using XRP (ripple) an optimal route between trusted gateways is used. Allowing for almost instantenous transfers.
Transactions dealt with per day: around 200K to 600K now but goes up to 2.8MM 6 months
Transaction fees: very low less than a cent.
Transactions per second: ripple's consensus ledger (RCL) can support up to 1500 txps.
chart will be added
Dash
Dash is very much like Bitcoin.
Bitcoin is a decentralized, peer to peer distributed system. In order to get a grip on how decentralised crypto systems work it is worth having a basic understanding of The Byzantine Generals’ Problem (BGP) .
Which is a classic problem faced by any distributed computer system network.
The biggest difference between Dash and Bitcoin is their governance model. Dash is governed by masternode owner/s, while bitcoin is governed through consensus on the blockchain.
The community members who own a masternode can vote in favour or against proposals that help build the Dash Ecosystem.
Transactions dealt with per day: around 8000.
Transaction fees: today approx. 0.18$
Transactions per second: Dash Evolution should allow for 1500 tps, old data shows 13 tx per second.
whitepaper
Nem
Fueled by a theme known as the “New Economy Movement” the Singapore-based non-profit organization NEM Foundation started in 2014 inspired by the cryptocurrency Nxt and wanted to enhance it.
NEM is the engine behind the cryptocurrency known as XEM, it also functions as a peer-to-peer solutions platform that delivers services like payments, messaging, asset making, and naming systems.
It does this by using smart assets.
Smart asset system
The NEM Smart Asset System allows you to totally customize how you use the NEM blockchain. First, your Namespace defines your home on the blockchain where you can name your own Mosaics, provide easy-to-remember names to user addresses, and more.
Mosaics then are the basic building blocks of Smart Assets that you can use to represent lots of simple things: it could be a coin, a signature, a status update or more.
To create truly Smart Assets however, NEM allows you to create Addresses that act as containers for Mosaics that can be connected with Multisig rules. An address can simply represent a user, such as an account holder. But it can also represent an individual unique asset such as a document, or a song, or a package. You can then update that asset through configurable Transactions.
Check out the “example use cases” to see how Smart Assets can be used to create a wide variety of blockchain solutions, quickly and reliably.
NEM is currently regarded as one of the best funded and sustained blockchain projects in the cryptocurrency industry with its technology currently used by a variety of financial institutions and industries, including the Japanese company Hitachi with its 150 million customer base.
NEM possesses both a standard public blockchain and a permissioned or private blockchain.
It utilizes a tiered architectural structure common to the Internet but unusual in the blockchain world.
As a result, running a node in order to utilize the ecosystem is not a requirement. Therefore NEM has the ability to facilitate web, mobile and other thin clients without leading to a costly footprint on devices.
Lon Wong (President NEM foundation) says that he is confident that NEM is one of the few blockchain projects in the market that has a production quality solution.
Nem has a strategic alliance with Blockchain Global, one of Australia’s leading blockchain companies providing international auditing and network infrastructure services.
Later this year, NEM plans to work with Blockchain Global to develop a cryptocurrency exchange for the NEM ecosystem. Blockchain Global previously built ACX.io, Australia’s largest Bitcoin exchange by
NEM is built from scratch as a powerful and streamlined platform for application developers of all kinds, not just as a digital currency. Using NEM in your application is as simple as making RESTful JSON API calls allowing you to configure your own "Smart Assets" and make use of NEM’s powerful blockchain platform as your fast, secure and scalable.
Configured for your use, NEM is suitable for an amazing variety of solution classes, such as direct public transactions via streamlined smartphone app, efficient cloud services that connect client or web applications, or a high-performance permissioned enterprise back-end for business-critical record keeping.
Transactions dealt with on a daily basis:
Transactions per second:
Transaction fees: After the latest fork on 3rd aug 2017 not more than approx 1 XEM (today 0.22$)
Iota
IOTA is not a Blockchain, it is based on a directed acyclic graph (DAG) aka the Tangle, not a Blockchain.
IOTA is an innovative new distributed ledger technology to function as the backbone of the Internet of Things.
Born in 2014, it is the only technology of its kind that is able to function as the lightweight distributed ledger with scalability, quantum resistance and decentralization for all IoT devices.
It is far more advanced then the block chain and is recognized in the innovation-press like Forbes, Techcrunch, International Business Times and Huffington Post.
IOTA has no mining, no blocks, no difficulty, no transaction fees.
IOTA scales almost infinitely, unlike Blockchains
IOTA is not solely made as a currency but as an interoperability protocol that solves the problems of the IoT
IOTA wants to enable the machine economy
many articles about how IOTA will be used
Its field of application is set in the Internet of Things as the technology for data integrity and industrial appliances. Furthermore pay on demand, micro-payments, and machine to machine communication like sensor technology, smart cities, adaptive systems etc.
It is quite evident, that Bitcoin and nearly all other cryptocurrencies weren’t made to function as such. Considering hundreds of thousands of nano-payments each day in the near future, these Blockchains would generate an enormous amount of fees, just for conducting transactions, while costs of these nano-payments oftentimes undermatch the fees.
Therefore, it is indispensable to use a secure, fee-free system, which IOTA is. This technology, therefore, is a novum.
The underlying technology, the Tangle, is a third-generation Blockchain-technology, based on a directed acyclic graph, made for the problems of tomorrow.
Beyond that, the Winternitz one-time signature scheme enables quantum resistance, which makes it perfectly equipped for the future.
Transactions by comparison
Bitcoin is 7tps and Ethereum 15tps. Litecoin has a maximum capacity of 56tx per second.
Be aware this data is probably old, after for instance Segwit implementation the Bitcoin tps increased a bit. Yet in terms of world wide adoption we must really be hoping for a coin to do limitless transaction per second.
Otherwise the monetary system becomes to slow.
Lightning Network
It is a network that is being build to allow scalibility of decentralised coins like Bitcoin, to allow for Billions of transactions per day. One could argue it is a workaround to make a slow system quicker by building a layer to it.
However there are many issues surrounding the implementation of this network one of which is that it will be unlikely that the solution is decentralised potentially making Bitcoin even more centralised then it already is. read more about potential Lightning Network issues
http://www.investopedia.com/news/bitcoin-lightning-network/
Coins to be followed and added to this message in the future:
monero
neo
omisego
bitconnect
quantum
lisk
zcash
tether
stratis
waves
ark
steem
bytecoin
maidsafecoin
tenx
BAT
golem
eos
augur
decred
stellar lumens
Crypto coins have Memory
No, don’t worry, I am not one of [Dr. Emoto’s] (http://highexistence.com/water-experiment/) crazy labstudents.
But I can’t help but think, that those who hold crypto, remember in what coins they invested in, in the past.
That means for me that potentially BitShares could explode back to it’s original glory once people understand BitShares and it gains renewed visibiliy.
It will take time and I am pleading for help from fellow investigators to come to an overall conclusion to what would be the true best longterm act to invest in right now and in the future.
As investors we want to make the decision that has best calculated equity to that decision.
So why not help each other gaining info and discuss latest news and additions to our favourite coins and reevaluate what the best option is here. Based on facts! Proof me that BitShares is not the best investment and by doing so convince yourself you are making the right decision.
This is all informational and hopefully over time factual, so don’t hold anyone responsible but yourself for making an investment decision that popped your balloon.
Check the Benchmark out between Bitshares and BTC.
Why I think a paradigm shift will happen that involves BitShares.
I would like you to include the cimparison to bitshares for every coin to show why bts is better. Like, for now it looks like iota and nem are two really worthy opponents
Hi Ravid, will do eventually, for now the benchmark tells you about what BitShares is trying to achieve I am first trying to identify which coins are attempting to achieve similar things, once that is done I will make a comparison. There is a lot of info to plow through and I want to simplify all texts as well. For everyone to understand.
Iota on first glance is trying to achieve something else than Bitshares it is focussing on internet of things.
The main question I am asking is, what will really function as an alternative to our economy system and by that it should have the biggest growth. I will try to read up more on NEM and see if a comparison can be made.
Sofar the uniqueness in BitShares is that they are offering stable currencies, backed by BitShares as collateral and a way for other companies to use BitShares as a way of creating their own shares.
It functions as a stock market, crypto factory and much more as you can read in the Benchmark.
Bitshares could be a bank and the best electronic currency would be a stable one. This is Hero.
Nem might be trying to achieve a similar thing, but it does so through namespaces and the transaction fees seem a lot higher then Bitshares already.
Bitshares already deals with most transactions of any blockchain, which is a huge thing.
All in all, it will also come down to marketing.
But my plan is to convince there is something better out there, for what it is trying to achieve, and have not yet come to this conclusion. It does look like as you say that NEM is a possible competitor.
I will get to the bottom of this
quite true, bts has dropped alot since june I wonder why
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