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RE: BitShares Viewed as a Venture Capitalist's Dream

in #bitshares7 years ago

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:

  1. 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.

  2. 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.

You guys are really doing a great job, more grace to your elbow