1. Why Bitshares?
As you may know, Bitshares and Steemit are both created by @dan, they are both based on graphene technology. As steemit turns out to be a social media platform, Bitshares is focusing to be the Decentralized bank and exchange.
After steemit shows the success to combine blockchain and blog, there will be more blockchain based services and their cryptocurrencies, plus those existing bitcoins, people need somewhere to trade them securely. There are some major reasons to use bitshares:
a. It’s decentralized and transparent, you have lower risk to be goxed. If you hold the bts token or bts pledged smartcoins such as:bitusd,bitgold, you are totally safe, just as the Steem Dollars.
b. The transaction and trade fees are much lower than in the traditional exchanges.
c. Extemly fast, the confirmation is less than 3 seconds, and scalable to 100,000 transactions per second.
d. Bitshares will grow gradually with Steem, now it’s the golden time to buy some bts in low price.(the market cap is 12 million now, when steem is 269 million)
2. How to trade at bitshares platform?
As you trade at the other exchanges, you deposit some money , and they credit some IOUs to let u trade. In Bitshares, there is also an iou called open.steem, which is created by ccedk.com. So let’s see how to trade at bitshares platform:
a. First, register an account freely at Bitshares.openledger.info
Remember to backup the wallet and your password!
b. Send your steem to openledger with your own memo. You can also send bitcoin to openledger too.
c. start to trade! Now there are two pairs: steem:bts or steem:btc
d. You can withdraw your steem when you want to power up.
See more informations:
Bitshares.org
Bisharestalk.org
I just bought a lot of Bitshares thanks to your post, you sold me. I agree they are cheap and I think they will be worth a lot more in the future.
Great post! Thank you!
BTS is a solid long term play and the current price is a decent entry level.
you are action investor！Time will reward you!
Question: When you withdrawal, you don't have to enter any details as to the destination (memo?). I couldn't figure out how to withdrawal a while back.
When you deposit steem to bitshares platform, you use your memo to identify your acc in bitshares platform. When you withdraw it to steemit, you use your steemit acc. So you send open.steem to openledger automatically with a memo of your steemit acc, and you will receive your steem in a second.
You do enter the destination... in your case that would be "blakemiles84"!
thx
Great post, I will certainly give Bitshares a look; all this CryptoCurrency and trading can be quite overwhelming, that's an understatement!!
Thank you
I feel overwhelmed too!
You got it!
BitShares is a great platform. Some of the centralized exchanges may have pretty wallets, but the fundamental point is that you're trusting someone else to keep their promise. Bitshares is 200% collateralized meaning you're money is there and its decentralized.
Moonstone, Echo and others are building fancy wallets i believe and BlockPay are getting this in to shops with their POS system. PeerTracks music and PeerPlay gaming ... the future is bright for this platform if you ask me.
Lets hope so.
This!
Been hodling a heap of bitshares I came across almost by accident a few weeks ago. Great article and perfectly timed. @dan clever dude, I started by crypto-career a little late by comparison!
Interesting article. I would like to point out it is important to never throw all of your eggs in one basket. Even if you believe something will be successful you always need a plan B. I think steemit is a great investment but if you are talking about your retirement plan, I would be careful. Cheers!
Thanks for the helpful tutorial! I wish there was a quick and easy way to save or "favorite" content like this so I can go back and reference it later.
Yes, the search function is unavailable, it's hard to find back some useful articles.
"favorite" button will be great!
Good post. I luv the openledger exchange. And Ive been scratching my head why BTS has been so cheap for so long?
It's growing now
Thanks for the help, I had an account on bitshares and had no idea what i was doing.
I bought some BTS a few months ago and have been wondering whether to sell or not. I guess I won't seeing how steem and bitshares will work together.
Great article. Please check out my blog about this topic giving a brakdown on this topic in easy to read format
https://steemit.com/trending/@kalaylah77/all-your-steem-bitcoin-currency-questions-answered-here-plain-and-simple
Good information (y)
Thanks for helping the community get started. I know I'll be taking advantage of this.
Thanks
Great howto, thank you very much for do steemingans life a little more easy
yes, we all evolve with the steemit system day by day!
What is your evidence that Bitshares will grow with Steem?
Bitshares is great, but now only people from crypto world will use it. Meanwhile, Steemit has successed in attract the mass, and educated them to accept the Steem Dollars. Eventually people will find more smartcoins like bitusd/biteur/bitcny/bitgold, they will trade it in the bitshares platform sooner or later.
got my first payout, thank you all for support！
Can you explain why do i need to buy Bitshares? Even if Bitshares technology will be huge buy what exactly is Usage of Bitchares itself?
And BTW there are problens with understanding interface and currency pairs. Someone need to start explaining step by step what is ccedx what is IOUs and etc.
You'd better read this
http://docs.bitshares.eu/bitshares/index.html
I keep learning more and more. Thanks for this post
Very good blog. Same mindset here. The future is in blockchain. Crypto prices might be inflated now but the market will find it's way just like it did with the Internet boom. We do need more indept investment analysis. I found this amazing platform: https://www.coincheckup.com They seem to give this complete indepth analysis of all cryptocoins. Check: https://www.coincheckup.com/coins/Steem#analysis For the Steem Research report.