And the centralized exchanges keep making things difficult...
- First it was Bitfinex closing accounts for individual US clients.
- Then Poloniex required ALL accounts to get verified
- Then Bittrex closed all new registrations
- Now Binance has decided to halt all new user registrations
This combined with the iffy nature of Tether and the risk of using the banks...I'll tell ya this. I'm so bullish on Bitshares right now it's insane. Picked some more up today, actually. There's no doubt in my mind that 2018 will be THE YEAR for decentralized exchanges with Bitshares being the king DEX.
I would trade exclusively on Bitshares if I could. Again, what's holding me back?
LIQUIDITY!
That's really it. Everything else works and is waaaaaaaaaaaay cheaper than the centralized exchanges. Did you see the recent price REDUCTION across the entire Bitshares platform? You can review it here: http://cryptofresh.com/p/1.10.7264
Here's a sample of some of the changes.
So here's to 2018! Do your part and start trading on the Bitshares DEX. Set those limit orders and let's create a healthy and deep order book!
In Liberty,
Ashe
Liquidity is key. Looking forward to more arbitrage bots on the DEX.
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I think the tax laws of the US will quickly discourage arbitrage bots. The tax component will eat away at returns quickly, same as with day traders in the stock market. While this is only in the US, I see other countries jumping on the bandwagon soon. Taxing capital gains is a key "fundraiser" for governments, and crypto trading, while often demonized by governments, is being eyed as a new revenue stream for taxes.... just my thoughts on bots.
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To be fair Binance grew 80 times during the few months I was on it and only once I had an exchange failure. Compared to the absolute mess of Kraken, Binance did well. In few months they became the #1 exchange. that's a great feat. They are also excellent when it comes to listing coins (for the most part).
It's just unlike the size of the planet and speed of light limit of Bitshares, Binance was bound to face scaling issues. I'm still HODLing my Bitshares. I just wish the DEX would have more coins to trade. Everything else is near perfect.
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I completely agree w/ ya. It's coming. Bitshares needs to get more simple. Ppl are building on it.
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Simplicity can wait. Most people are slow to try new and revolutionary things. The main reason I'm not very active on BTS is the lack of coins. Most early adopters would be fine with having to deal with some complexity. When I see Metaverse only has $2,523 volume and no WTC, MCO, Enigma, PIVX, SONM etc is what's keeping me away.
I do love the price reduction. Maybe somebody could take a note from Binance and submit a proposal for some trading competition. Also BTS can take a note from Dash DAO and do some sponsorships and advertisements.
Think about a TV/WSJ ad about a cryptocurrency exchange that can handle the NASDQ volumes and has ultra low fees and the only way to shut it down is to shut down the internet. That would be epic. You can get the input of a TA like @haejin and plan the ad campaign to be released at a time where BTS is at the end of a correction. News will pick up. Volume will pick up. Prices will MOON. Finally I'd get more coins and Volume.
Cardano wouldn't be where it is if it wasn't for marketing. Bitshares has more than enough tech. It needs some bold marketing plan.
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Once again, a great article from @ashe-oro! I definitely hear you on the liquidity part, but think this will be solved in the future (minimum 2 years). Crypto developer teams are creating alt coins at a break neck pace. Some of the more business savvy are turning to creating wallets and exchanges. Controlling the platform for trading is going to be the next big competition. I sincerely hope the DEX community learns to work together to foster global scalability, benefiting all customers. The platforms (exchanges) will need to build safer and more user friendly interfaces to win over users and accounts. Bitshares is making strides here.
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it sure is. We need easier to use exchanges. I know there's people building them and I'm freaking pumped.
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Would love to invest in an exchange! Heck, invest and work on building an exchange. The crypto revolution may teach banks and stock trading platforms a thing or two about user interfaces!
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i think Binance is upgrading his Site due to alarge numbers of new Member. hope it reopen his Registration i am also trying to create binance account
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Decentralized means also that I can sell quickly my Cryptos for US dollars or euros?
Since this is the biggeset advantage of trading in centralized exchanges.
But anyways I agree, there is a huge backlog with the exchanges.
I wait since 3 weeks for example to get verified on Bitstamp.
I am happy I could finally start trading with Kraken.com.
Bitfinex I don't like to use.
Binance is a bit too much casino from its style. I am not saying it is bad.
Let's see what 2018 has to offer in terms of trading cryptos.
We are just at the beginning of this new industry.
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you could trade for bitUSD on the Bitshares exchange. https://coinmarketcap.com/currencies/bitusd/
And look at that marketcap grow!!
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Fee slashed dex and it is a good news, thanks to bitshares community. It will bring more people to community
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Glad i made 2 accounts each on Bitt and Bin . I think i should make one more at Kucoin too . Even i am Bullish on Bitshares but it looks quite complicated as of now .
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yeah certainly gonna push people towards decentralized exchanges that's for sure.
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no doubt. Can't wait. Several good projects being built on Bitshares...Bitspark.io, Arisebank, CryptoBridge...
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Hi Ashe - Thanks for the informative post!
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ur very welcome :) Glad to help out.
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That's bad news, thanks that I created my BITTREX account some time ago as it is a top exchange in my opinion. Now, it is bad, but maybe it just shows also something good about it - and that the people realizes the potential and keep on adhering to the cryptocurrency world. While the exchanges were not sized for this wave of new registration, I am sure that in time they will get more competitive and able to handle all these requests.
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i think every country is against ti bicto currency, hopefully it will be recovered soon
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Hey man I enjoyed your content I really hope you check out my profile that will make my day !!
Keep up.
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thanks God i made my account before it
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I made mine like two weeks ago and I just read this and was like
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Good thing I decided to get on when I did. I had just missed bitrex ...it seems they have still not opened up to new users....
I’d like to join eventually as binance is missing a few coins that I’d like. Raiblocks being the main one.
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At this very moment binance.com is open for new registrations but limited.
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Damn. Good thing I opened an account on Binance not long ago, haven't used it yet though.
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hopefully in 2018 we can achieve big profits
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On Binance you can sign up with an invitation from a current member. Take my referral link to register https://www.binance.com/?ref=13365738
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saya suka dengan postingan anda sangat bermanfaat semoga hari hari mu selalu dalam sukses
salam kebal dari saya
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nice article!!
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