Where else are you gonna get a VC pitch like this?
BitShares is the ideal Venture Capital investment.
- All the technical work is complete.
- The system has been operational for 3 years.
- It’s technology is widely superior to all competitors.
- It processes more transactions per day than all competitors combined.
- It easily exceeds typical VISA transaction rates.
- It is scalable to global loads and its competition is not.
- Its shares are fully liquid and trade on global markets.
- It offers widely needed products and services
- Its technical team is world famous with multiple successes.
- The marketing team is in place and their plan is ready to scale.
- Marketing scale-up is the only remaining cost.
- It can reach the 99% untapped mainstream market first.
- It is likely to see 10x to 1000x growth in the next two years.
Where else can you find a VC opportunity like this?
-- Vitalik Buterin
Can it do another 1000x?
Or would it be better to bet on a younger, stronger bull?
I hope bitshares pick up more press as it seems like a great technological super highway
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"It routinely exceeds VISA daily transaction rates." can you point me to some proof of this claim please
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VISA rates are typically quoted at 2000 to 4000 transactions per second.
BitShares stress test put it into the high end of this range at 3300 transactions per second.
And that was a limit on how many transactions we could throw at it, not a limit on what it could handle. Never broke a sweat. Lab tests point to 180,000 transactions per second through the code's main choke point.
Stress Test Highlights
I should have said "easily" rather than "routinely" and the word "daily" is superfluous. - Fixed
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I would love to see more of these statistics. Can you point us?
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But those stress test statistics aren't made up. Here's a link to them again: https://steemit.com/bitshares/@ash/current-bitshares-testnet-stress-test-highlight-3300tx-14000ops
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93.7% of all statistics are made up like this one.
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Or, as Abraham Lincoln once said, "Don't believe everything you read on the internet."
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From what I've got from google it looks like VISA does around 300 Million txs a day. BitShares did 1Million, which is great but the quoted statement I believe is inaccurate. Even if you're talking per second rates. 300M/day is around 3500 tx/s. BitShares can do that but it doesn't currently "routinely exceed" those rates.
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https://www.google.com/url?sa=t&source=web&rct=j&url=https://usa.visa.com/dam/VCOM/global/about-visa/documents/visa-facts-figures-jan-2017.pdf&ved=0ahUKEwju5LzjncbWAhXlslQKHUYgA1sQFgglMAA&usg=AFQjCNFtmQ4auBGMaBXpEoZfLGR6AW6QZQ
Visa lists their own capacity at 65,000 tx per second as of August 2016 in this PDF from their website.
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Yes, we must be careful to compare apples to apples:
Theoretical Capacity: Visa 65,000, BitShares 180,000 TPS
Demonstrated in Daily Action: Visa 2000-4000, BitShares 3300 TPS
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Indeed... one day steemit need to do a lot more..
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I would really like to see you put a converter on the wallet page so we could quantify our assetts. It takes me
me a while to figure where all of the bts came from. Was it Bts falling or some of the assets going up. Is there
compitition between open ledger and Bitshares. I am a lifetime member and hate the home page.
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Bitshares Target $1.10:
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Hello @stan I have a question about bitshares (bts), is this a finite currency? The current circulating supply is 2,599,840,000. Is that going to stay this way forever or can more be created...?
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It has a fixed supply of 3.5B. About 1B of it is locked up in a Reserve Fund... All fees go into this fund. All expenses come out of it. Just like a human company. When more is earned than spent the company is profitable and the currency supply decreases. Right now the supply is growing much slower than Bitcoin.
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Ok, great, thanks :)
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Thanks for this explanation.
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Hey @stan will bitshares (bts) supply be burned and reduced to make less bts floating around?
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It gets "locked up" in the reserve fund and in backing bitAssets like the Hero.
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There is a fixed limit, believe 3.5? not sure... A part has been kept to pay for future development.
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Singing to the choir dan. !!
I been waiting for this marketing push for ages!
I have been spreading the word to some brand new whales. !!
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Haven’t bought my first bitshares yet. But I’m going to. Looking forward to getting on board and being a bitshares owner. I love what I see.
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I started with Bitshares about three weeks ago. I'm very happy with that decision. I have been learning how to trade with Bitshares Distributed Exchange (using OpenLedger.io) and have been having success.
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Awesome. Good to hear. I’m working on freeing up some fiat to pour into some bitshares. I can’t wait!
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Hope so
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@Stan, would greatly appreciate your thoughts here. You point out the following:
• Its (Bitshares) technology is widely superior to all competitors
What is the main barrier that Bitshares has to prevent competition from arising and eating away at its market share? It seems the movement towards decentralized exchanges is just beginning, and many new entrants to the space will likely pivot to account for this demand for decentralization, creating much more competition for Bitshares.
Best to you and the Bitshares team, I agree that higher prices are in store!
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There is never an excuse to sit on our butts and be complacent. Competition is always there. Our best defense right now is that others are complacent about their place on the totem pole.
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Thanks for the response, and for engaging with us here on Steemit.
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i appreciate every bit of information you shared in this article ,, they are indeed helpful
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This is perfect guide for Bitshares. I regularly read your posts and you're doing a fantastic job. Do you post tutorials at YouTube? Also, can we connect at Discord or steem chat?
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I do several radio interviews every week...
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While I believe Bitshares to be quite promising in the long term, I feel the need to point out a few issues with your post:
Bitshares are not, in fact, shares. You don't have the rights of shareholders and nothing in the tokens really guarantees you any participation in either the upside or liquidation value of the entity.
The majority of the volume of Bitshares trading has been denominated in CNY, and that comes grinding to a trickle starting today. So there will be a lag in upturn at best in the short term.
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When we created and named BitShares we went to great pains to point out that "shares" is a metaphor to help explain certain concepts. At the time, we pointed out that even bitcoins function in some ways as shares in a company since 100% of the value of Bitcoin viewed as an unmanned company is contained in the sum of the value of all Bitcoins.
Besides, the triple entendre of the name BitShares is this:
BitShares - Sharing with others in many ways - look at billionherocampaign.com to see how.
BitShares - Emphasizing honest, legal securities, not scammy coins via TXSRB.com
BitShares - BTS holders elect witnesses and workers who run the company.
As for China and bitCNY - the loss of any big use case hurts the whole industry. But BitShares stands to gain from the loss of many exchange competitors and our BillionHeroCampaign.com is targeted at mainstream audiences around the whole world. On top of that, our stance for doing ICOs the correct and legal way and enabling a franchise of exchanges to do so is a huge growth opportunity. So we see bright future, despite choppy waters from time to time.
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You guys are really doing a great job, more grace to your elbow
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You seem to have quoted Vitalik Buterin in jest but you leave it up to the reader to realize it was in jest and try to figure out why this claim doesn't hold a lot of weight.
Obviously I know why Ethereum won't have Visa scale transaction capacity in two years...
..but most people read headlines like that, and immediately believe it. We're a headline based society.
My recommendation is to not post quotes (especially those in jest) without a little comment to go along with it?
It's just a recommendation.
::intelliguy ducks::: covers head:::
P.S. I know you figured the comments would be self-explanatory for discussion. I get that.. Many people don't read comments. The visit, READ the blog, upvote, write a comment and leave. Never even reading comments unfortunately. :(
We have to hand hold those negligent people to stop them from propagating half-truths...
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"Where else can you find a VC opportunity like this?"
EOS
^.^
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EOS is a cool project but doesn't have a working product yet.
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And that's exactly why there is an opportunity right now. If the product comes on the market and the value is noticed its gonna go up rather quickly.
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I made sure to get as much as I could at this HUGE dip it took recently to about 6 or 7 cents. I think that Bitshares and Steem are 2 of the biggest "sleeping giant" coins out there! Do you think we could see a $4,000 BTS in the future @stan? (:
That would be EPIC AS FUCK!
Also, what services are offered on the BTS DEX? I'm familiar with the digital assets offered, but not so much of the services. Thanks in advance (:
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It's a decentralized exchange run by trusty robots!
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Ok so the exchange is the service you were talking about that makes sense 😄 How about some of the less-known assets in there? Like I’m curious about the BuildTeam token and a few others, what are your thoughts on the unique assets that only BTS has?
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That's what BitShares was built for. I'll leave it to their creators to speak about them.
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Bought some more today so I certainly hope it can do another 1000X !!
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All the points that you have mentioned in your post are convincing. So, my answer to this question:
Is simply buy Bitshare and it will be a profitable decision.
Thank @stan. It's because of your posts that I got introduced to Bitcshares and I am learning more and more about it. So, please keep writing.
Steem On!
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@stan, informative blog.
i think and hope Bitcoin should grew upto 1000x, because now no one can stop it.hope for best
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Bitshares is the reason 90% of jobs on Wall Street will be gone in 7 years. And good riddance!
Decentralization of exchanges is truly transformational. I'm known for having achieved KPMG audited record returns in the stock market [google Chris Kacher] but I am all for progress.
And bitshares takes progress over the top by decentralizing the stock exchanges.
Speaking of which, we already see the following brilliant companies having launched:
Decentralized CPU (Golem)
Decentralized storage (Filecoin)
Decentralized gaming marketplace (Dmarket)
Decentralized insurance (Etherisc)
Decentralized web hosting (Substratum)
(͡:B ͜ʖ ͡:B)
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"Ethereum will have Visa scale transaction capacity in two years" is the headline of the article. However, that's not what Vitalik actually said. He did say "It will take a couple of years for the Blockchain to replace Visa."
Edit: He indicates that Ethereum developers have not settled on a scaling strategy yet .
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My main reason for the quote is to point out that BitShares has already achieved for several years what other leaders can only dream of.
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“Bitcoin is currently processing a bit less than three transactions per second and if it goes close to four, it is already at peak capacity. Ethereum has been doing five per second and if it goes above six, then it is also at peak capacity. On the other hand, Uber on average does 12 rides per second, PayPal several hundred, Visa several thousand, major stock exchanges tens of thousands, and in IoT, you’re talking hundreds of thousands per second.” -- Vitalik Buterin
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Great post! Thanks for information mate! @
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"A transfer is a single operation that transfers funds from one account to another. Other operations include: create account, create limit order, issue asset, create asset, etc. A transaction consists of one or more operations that must execute together or not all. Every operation is able to stand alone in a transaction. Therefore, for the purposes of our benchmarks we assume all transactions contain exactly one operation and that measuring operations per second is equivalent to measuring transactions per second."
https://bitshares.org/blog/2015/06/08/measuring-performance
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Thank you very much for give update information post about bitshares @stan.
Highly appreciated sir.
Cheers
Upvoted
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@stan
The information you provided is very useful,and it can make important results by investing to BTC. because its value is gaining momentum.
Ex: Instead of investing in a bank, I think it is worth buying a BTC.
Thanks this very Valuable post.
100% like And resteem
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Nice post, thank you very much @stan
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@stan, what's going on with BTS!? Delisted from Bittrex. Has the project been scrapped altogether!?
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Bitshare being delisted on Bittrex is another strong bull signal. It's pretty much the same as the Banks banning Bitcoin.
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Very nice,,,
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Bountiful post will dony
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