Some caveats I realize that this billion dollar game is supposed to take awhile, perhaps at least a year to resolve. This post is very much focused on the reaction to the release to the July 4th lead-up hype ,and how it could be better.
The performance of the bitshares price has actually gone down this week, not up, as we would have expected a big marketing push to achieve. Additionally I have been looking for some type of marketing on this but other then Steem I haven't seen anything, perhaps I just missed the article or perhaps the marketing push hasn't started in full force yet. However I was under the impression that the marketing would start on July 4th from previous mentions on Steem and Telegram.
The other thing I have noticed is that the supply of HERO has not really expanded, in fact it appears to have gone down to a supply of 3000 and now has returned to a supply of 5000. At the current price of $150 this means only roughly only $750,000 worth of HERO currently exists. This is despite a prize of $1,000,000 or 3,000,000 BTS currently residing in the prize pool account. You would think that there at least should be 1M worth of HERO created by the game. Either way $750,000 amounts to only 0.13% of the total market cap of Bitshares at the moment, which makes it a tiny portion.
So enough with the negatives, how can it improve?
Update the website to look more professional. It currently doesn't look very good, and has so much extraneous information. Just try to parse the information down to a one pager written in a clean and eye catching theme. This is the face of the idea but really does the idea no justice.
HERO needs a use, currently you buy them and they sit there. You can't spend them and therefore have little value to the average person. Bitcoin I can spend on a Bitpay credit card for coffee or other things, do something like this for HERO.
Other exchanges should be petitioned to trade HERO, currently HERO doesn't trade on any other exchanges, so interest in trading it is very limited. It would be a good idea to use HERO as an alternative to Tether, then at least people would have a use for it's stability and slow increase of value.HERO currently is created and traded only by Bitshares insiders, almost all of the creators are witnesses or committee members. Very few outside people are paying attention to creating HEROs. In order for the game prize to be viable outside money needs to come pouring in.
Wow, I never thought of it that way. Interesting insight, as always. Profesional analysis for a professional Steemer.
haha love that episode, thanks man!
I believe the HERO contest is going to take BTS to >$10 in the next six months, but it appears Stan got ahead of himself with the hype train. The 4th of July kickoff should have coincided with at least a month or two of sustained BTS buy pressure and HERO liquidity creation. But literally nothing happened on the markets. So a lot of the faithful that were creating/shorting HERO and adding liquidity are not sitting on huge losses. Not a great start to the contest.
The price still is terrible and the supply is only 1900 heros, not good.
@Stan had said that they are coming out with a new website. As for #3, I believe that is what the contest is for.
Fix the glitches in the exchange UI. I cannot stress this enough. For example, this issue can render an account completely unusable via the GUI in some instances.
Yes, I agree there are some fundamental issues that are holding the DEX back, UI is just one of them.
I think they need to ditch the gateway model for sidechains or something else that allows for no counterparty risk. I would also like to see a bond market for those of us that do hold assets, borrowing should allow either creation of the asset with collateral or buying from a bond pool. Then IMO the DEX also needs to be able to trade and store way more coins, most of the top coins people want to trade can't be found there.
Good posting. Fluctuation is always good for trading. Thanks for sharing..... followed ya