Disclaimer: Yes this will read as a shill-post and it is meant as that too. But I actually believe in BTS and would also like you to share your thoughts on the platform. Besides nobody complains about the constant ARK OMG NEO shilling or are they?
Those of you that were already here in June 2017 may remember Bitshares or short BTS. It suddendly spiked up from a 100 million $ market cap to 1,2 Billion and then fell all throughout summer to where it is now at a market cap of 200 million $.
Bitshares is a decentralized exchange using the DPoS consensus model. It is one of the older projects and started in 2013. But don't let that fool you. The Bitshares Blockchain is the fastest out there processing up to 100000 TPS and the Team tries to improve on this to get near 4m TPS. As such it has all the requirements to be a perfect mean of payment and trading. Fees are also incredibly low at 0.04$ per transaction right now. To be that fast the Blockchain also has to be extremly scalable which it is and therefore solves one of the biggest problems with cryptocurrency.
Remember how everyone is worried about USDT? On Bitshares decentralized exchange there are so called 'smart-coins' which are actually backed by a collateral. On how this works please visit bitshares.org/technology/price-stable-cryptocurrencies/ cause this article explains it better than I ever could in a few simple sentences.
Similiar to Waves on Bitshares companies can issue Assets on Bitshares. These are actually real Assets though and it's not limited to cryptocurrency which IIRC Waves is. That means even crowdfunding could happen on Bitshares as well as event-tickets.
Now on why the price declined rapidly and hard: It's simple. Crypto is fueled by hype. If there is no hype a coin will be sold even if the fundamentals are great. We saw that happening with Lisk FCT and many more. Until you actually bring attention to a coin nothing happens. Bitshares is almost back at pre May levels where crypto basically exploded. Down from a high of 17800 satoshis to ~2100 satoshis right now. The recent Bitcoin dip caused it to see a new low of 1500 satoshis at poloniex before it quickly recovered. So it seems like this is another shill me your bags post but Bitshares will get going really fast and here is why:
-This month Bitshares is supposed to get a new website and a new GUI.
-The chinese regulations will force users to get into decentralized exchanges. I don't think that chinese investors are only interested in a quick flip. Bitcoin has and will always have believers all over the world. And China is still one of the biggest countries on our planet. It would be foolish to think they as a collective would reject cryptocurrencies. And Bitshares is already popular and China. 20% of it's volume is coming from there.
-Bitshares UI is great. It looks similiar to Bitfinex and imo Bitfinex has one of the best UI's ever.
-It survived until now. That is rare for a Coin from 2013 and interest in Bitshares is still there. Look at Poloniex's volume for BTS
-Centralized Exchanges are still a risk especially with cryptocurrency. Think about BTC-e, MT.GOX Bitfinex etc. Even if the Exchange isn't hacked what about atrocious customer support aka Poloniex that will ignore tickets from even 3 months ago? It's in everyone's best interest that Bitshares will suceed.
-The biggest reason: It already has a working product. More than most coins can say about them right now. And the product is actually great and working totally fine. Sure there are improvements to be made but these improvements are going to be made too. It still has a future.
So this is why I think Bitshares is gonna be big or at least that it will reach near its ATH again. If it is gonna be a dominant player and also companies start to use it as Bitshares can easily handle NASDAQ's volume then we're potentially looking at a market cap in the billions.
I would like opinions on Bitshares and actually wanna hear about the downsides you guys see with it just so that I and others are able to compare Pros and Cons.
