We had no idea "BitShares" branded their OWN exchange. It's the same exact format as OpenLedger. Do you have seperate login credentials at BOTH? Already didn't like setting up for OpenLedger's exchange, so really not willing to try to login to what looks like a copy exchange using our OpenLedger info to test that theory out, simply bc it could be a hacked exchange in the business of stealing passords? If they ARE the same, this seems incredibly unwise of OpenLedger bc they are creating confusion as well as fear.

Try to deposit 100 steem into Bitshares Exchange, and then turn around and withdraw same amount back to your Steemit wallet. See what they charge you in withdrawal fee, we found it exorbitant on OpenLedger. For this reason, we're not using it, until someone finally answers our question on withdrawal fees. We keep asking the question about the withdrawal fee, and no one seems to know the answer or care. Maybe that's why it's so high.

OBITS are like shares in OpenLedger. Any profits made by the exchange, beyond what they pay programmers to update/improve it, are distributed to OBITS owners. in this way, they act as shares in a virtualized decentralized "company".

Bitshares are SUPPOSED to be just the medium of exchange on OpenLedger, such that things can trade as pairs to bts. Like CNY seems to be the favorite, which means some chinese punters are finding the site helpful in dodging their constantly-changing legal landscape in crypto and the Yuan. What the Chinese govt is doing is a whole nother story. Anyway, if the asset class (Yuan, USD, bitcoin, rubles, gold...etc...) is paired with BitShares, then they call the asset a "smartcoin" bc it's the result of a smart-contract using BitShares cryptocurrency.

Upvoting your comment simply for pointing out Steempower blog, which we followed.