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rok-sivante (75) in bitshares • 7 years ago (edited)

7 years ago by rok-sivante (75)

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bellsx1 (45) · 7 years ago (edited)

Meltdown / Spectre make the Ledger Wallet very important
EtherDelta Exchange would be interesting, so would Bancor, Ox or Loopring

These are my thoughts in order on the matter.

Liquidity has always been the Bitshares hurdle to overcome.

The BTS markets work by two parties entering a smart contract on a trade
There has to be two parties for the asset mechanisms to work.
Not being able to move from outside blockchains onto Bitshares results in vendor lock-in.
While many want distributed exchanges they also want the ability to walk with asset in hand and trade for any digital asset with anyone
What BTS could do is focus cross chain transactions like ARK or specifically with lighting network nodes

Lighting network might be the best way to play well with other blockchains. I am not certain how the ARK cross chain txns happen but that too is something to explore further.

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1 vote

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eric-boucher (68) · 7 years ago

Lots of great ideas @rok-sivante!

Thanks for sharing all of it, plus the invaluable information concerning one of the most undervalued, if not THE most undervalued, cryptocurrency in the world. The more one knows about Bitshares, the more one comes to understand its monumental power, potential and intrinsic value for the world.

Using the devices helped by the development of the technicians behind Bitshares itself, would greatly incentivize the world to what I consider the most powerful cryptocurrency in the world.

Thanks again for giving us the opportunity to share and discuss these matters here. Again, great article!

Namaste :)

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1 vote

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awpmaster (47) · 7 years ago

YOU ARE A GENIOUS! DEFINITELY

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1 vote

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kenhudoy (61) · 7 years ago

really rocking my life with this great ideas and tips. wish you be made the COO of Bitshares means CMC top 10! thanks for sharign this vital ideas and i hope it get to them. But as it is now, I think btishares is a good buy because it may be cheap. look at where EOS is heading from few months back and Steem too. Where can one buy some bitshare tokens?

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rok-sivante (75) · 7 years ago

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braxton101 (58) · 7 years ago

Hopefully botshares does well. I am personally invested in the platform.

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fuhreresu (46) · 7 years ago

Such a great idea with having a bitshare wallet, i totally agree with you on that one. Thank you

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funkylove (54) · 7 years ago

Bitshares is succeeding already, though the interface is complex

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zetetrahedron369 (51) · 7 years ago

The thing about bitshares I do not like - they do crypto analogues instead of the proper crypto itself. I do not understand the necessity for this. It makes me it less.

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rok-sivante (75) · 7 years ago

Though if you can withdraw any crypto to a corresponding wallet, and you’ve still got all the benefits of a decentralized exchange, what difference does that really make in the end...?

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zetetrahedron369 (51) · 7 years ago

It makes me wonder why this was even done to begin with.

Its the principle of the matter of owning an analogous currency backed by the desirable one I actually deposited. I wonder why this concept even exists, why it was incorporated into the design of the exchange, and who benefits the most from this construct. Does this protect users somehow, in some way that is not obvious to me?

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shohana1 (77) · 7 years ago

ha ha the gif of the bottom made me laugh 😂😂😂 thanks for sharing more about bitshare.

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murad06 (52) · 7 years ago

Wao so nice post keep it up God bless u

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jakemuscle (34) · 7 years ago (edited)

First time I heard about Bitshares was on Coast to Coast AM radio: The latest paranorma news. The Bitshares person stated that they will be helping tokens move from Ethereum to Bitshares. I bought some the next night. I hope everything works out but I thought it was good promotion to get on Coast to coast. For god sake my dad was talking about them and he still things cryptos are actual coins!

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prepstothepros (62) · 7 years ago

It is amazing that people who are adopting decentralization enough to invest in this space gravitate to centralized exchanges like Kucoin, Binance etc.

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crispinto (47) · 7 years ago

Excelente, me gusto mucho lo tomare en cuenta amigos, saludos..

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machhour (61) · 7 years ago

Bitshares is a great concept , i think it should be more promoted it will be huge , Bts & steem & eos are my favorites crypto

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yadah04 (58) · 7 years ago

I hope your post is able to reach the geniuses to make it possible.

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emmaculate (54) · 7 years ago

Kudos to bitshare 👍👍

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fr3eze (68) · 7 years ago

IMO Bitshares is just lacking the trading volume, once the people found out how powerful is this platform, that's the day DEX become one of the most powerful exchanges.

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heymattsokol (68) · 7 years ago

Sounds like some good ideas to me, especially making it compatible with the hardware wallets. Anything to improve the convenience of using Bitshares will help it grow faster

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buggedout (68) · 7 years ago

Great ideas. I do like the funding model for BTS to support projects and to my eye there is no reason why integration work could not be part of that.

I am not familiar with the influential stakeholders of BTS but I'd suggest start by lobbying the witnesses?

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rok-sivante (75) · 7 years ago

Hmmm... do you happen to know where/how would I find out who the witnesses are, and how would it be possible to contact them all?

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1 vote

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buggedout (68) · 7 years ago

If you go into the bitshares client there is a "Voting" feature where you can elect Witnesses and Committee Members with your stake. It shows the top of the leaderboard (most influential) and most of them have a hyperlink which should have contact details.

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buggedout (68) · 7 years ago

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bitgeek (62) · 7 years ago

Congratulations @rok-sivante, this post is the seventh most rewarded post (based on pending payouts) in the last 12 hours written by a Superhero or Legend account holder (accounts hold greater than 100 Mega Vests). The total number of posts by Superhero and Legend account holders during this period was 32 and the total pending payments to posts in these categories was $2731.63. To see the full list of highest paid posts across all accounts categories, click here.

If you do not wish to receive these messages in future, please reply stop to this comment.

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funcrypto (43) · 7 years ago

Being compatible with ledger and trezor would be really great steps.
The same if it could be held in the Exodus wallet. Those steps alone could bring in thousands of new users just out of curiosity.

Of course the thing is, can you put the bts you hold as collateral in an external wallet?
Probably not. And since right now about 20% of bts is held as collateral with the number only going up, that might be the reason external wallets haven't happened yet.

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rok-sivante (75) · 7 years ago

What is the brief rundown on holding BTS as collateral?

Someone mentioned it recently, that it was a way to earn extra funds... would be curious to learn more about this aspect...

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funcrypto (43) · 7 years ago (edited)

Basically you are borrowing bitUSD with an interest rate of 0%. That's why it's so attractive.

If the bts exchange rate falls though, then you might be forced to sell at a bad rate, so always check that you have locked enough bts in collateral.

The interesting part is that the bitUSD is created "out of thin air" when you borrow them and disappear when you pay them back.

And that's why people think more and more bts will be taken out of circulation, because it's so attractive to put it up as collateral.

so you keep your bts, and borrow money for free at the same time if you're not too risky.

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lukebrn (58) · 7 years ago

Very interesting post @rok-sivante, you made some great points. Honestly, I would not have the knowledge to comment a lot on this, apart from the integration with a hardware wallet.

If integrating with a hardware wallet, the main issue that I see is getting the wallets to be compliant with Bitshares. If they are, then $70k should not be a problem, but I just think that if it was that simple, a lot of cryptocurrencies would do this as their inherint price should go up, based on the amount of new users they would get. I'm not sure how one would go about this, but I'm going to look into it further. Thanks for sharing!

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nutela (61) · 7 years ago

Let's first address the low liquidity because I don't think centralized exchanges offer high liquidity because they are so safe...

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marcuswahl (53) · 7 years ago

70,000 in this industry to list on ledger would be peanuts I would imagine

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