As coinmarketcap is one of the most visited sites in the world, one can only assume that BitShares as the number 31 show on the list is being looked at over and over again. But most people watching the show, seem to leave the theatre, clearly dazed and confused. It is a complex performance for sure.
“They float, they all float... and when you're down here with me, fat boy, you'll float too.”
Once worth over 1 billion $ in terms of marketcap, what happened to all that money that was once part of BitShares?
Somehow over 800000$ that once touched upon one of the best acts in the world: BitShares, is now floating somewhere.
Don’t blame Pennywise though, the usual suspect.
There must be something else going on, @oudekaas has been on the case for a while now, trying to unravel this complex issue.
Trying to solve this mystery and like any good detective, he will start by collecting evidence.
Other clowns
First suspects would be the other top 31 coins around. So what acts are they performing? Could the missing 800K $ accidentally have landed in the wrong hands?
A detective must be trustworthy
I must try to be unbiased, keeping an open mind. For I have seen the act of BitShares and the other acts, therefore I can’t understand why this top performer is now dealing with reduced interest, whilst it’s act is just getting better every day.
Top performers
Some of the better well-known performing acts in terms of marketcap are: Bitcoin, Bitcoin Cash, Litecoin,Ethereum and Ethereum Classic.
We know their act, but I also have to research all other top 30 clowns to understand what their performance and act is like.
Concluding with an overall comparison between clowns in the same field versus unique operators.
Coming clean
“Allright, stop the malarkey @oudekaas, the only one floating is you, we all know you are invested in BitShares and want to become rich!”
Darn, you bursting my balloon here. But hold on a minute, let me explain where I am coming from.
I have done a lot of research and right now based on the information available to me, I can only conclude BitShares has the biggest long term growth potential of all acts around. In the meantime I can’t sit still and just assume I am right, I will need to keep up to date to all investment opportunities available to us.
In order to feel better by my decision to go for BitShares, my ultimate plan is to give a full overview of the top 30- coins explained what they stand for and what relation they have.
Eventually trying to give each crypto a number in terms of longterm potential based on facts, properties, usage the whole shebang. Let’s see where this takes us.
So I started out with an initial layout of the first top coins, explaining what they do and what their differences are.
Hopefully building on it.
Ultimately I want to create a page that explains and covers a coin in the minimal amount of words/ sentences without selling itself short. Covering the most important aspects and reasons for longterm growth.
A steemportal that any new investor can study and make it easier to choose, which coins are best to invest in based on facts
So let’s start!
Ripple
Ripple works with banks, payment providers, digital assets exchanges and corporates.
It provides a clever way of transferring anything but mainly not-perishable, fungible goods (cash is good, gold is OK, as are cryptocurrencies, but can also be extended to beer and flowers, if the gateways want to deal in them.)
Rather then moving physical gold or actual money between gateways, IOU’s are tracked on the electronic ledger.
It is a clever clown which uses ripple to create shortest trust routes between gateways in order to move different currencies/ assets IOU’s between gateways. Trust is a major factor in transferring wealth between gateways, through using XRP (ripple) an optimal route between trusted gateways is used. Allowing for almost instantenous transfers.
Transactions dealt with per day: around 200K to 600K now but goes up to 2.8MM 6 months ago
Transactions per second: ripple's consensus ledger (RCL) can support up to 1500 txps
Dash
Dash is very much like Bitcoin,
Bitcoin is a decentralized, peer to peer distributed system. The Byzantine Generals’ Problem (henceforth mentioned as BGP) is a classic problem faced by any distributed computer system network. Understanding the core of this issue, will give you a better understanding of how decentralised crypto works.
The biggest difference between Dash and Bitcoin is their governance model. Dash is governed by masternode owner/s, while bitcoin is governed through consensus on the blockchain.
The community members who own a masternode can vote in favour or against proposals that help build the Dash Ecosystem.
Transactions dealt with per day: around 8000.
Transactions per second: Dash Evolution should allow for 1500 tps, old data shows 13 tx per second.
Transactions by comparison
Bitcoin is 7tps and Ethereum 15tps. Litecoin has a maximum capacity of 56tx per second.
Be aware this data is probably old, after for instance Segwit implementation the Bitcoin tps increased a bit. Yet in terms of world wide adoption we must really be hoping for a coin to do limitless transaction per second.
Otherwise the monetary system becomes to slow.
Lightning Network
It is a network that is being build to allow scalibility of decentralised coins like Bitcoin, to allow for Billions of transactions per day. One could argue it is a workaround to make a slow system quicker by building a layer to it.
However there are many issues surrounding the implementation of this network one of which is that it will be unlikely that the solution is decentralised potentially making Bitcoin even more centralised then it already is. read more about potential Lightning Network issues
http://www.investopedia.com/news/bitcoin-lightning-network/
Coins to be followed and added to this message in the future:
ioata
monero
ethereum classic
neo
omisego
bitconnect
quantum
lisk
zcash
tether
stratis
waves
ark
steem
bytecoin
maidsafecoin
tenx
BAT
golem
eos
augur
decred
stellar lumens
Crypto coins have Memory
No, don’t worry, I am not one of [Dr. Emoto’s] (http://highexistence.com/water-experiment/) crazy labstudents.
But I can’t help but think, that those who hold crypto, remember in what coins they invested in, in the past.
That means for me that potentially BitShares could explode back to it’s original glory once people understand BitShares and it gains renewed visibiliy.
It will take time and I am pleading for help from fellow investigators to come to an overall conclusion to what would be the true best longterm act to invest in right now and in the future.
As investors we want to make the decision that has best calculated equity to that decision.
So why not help each other gaining info and discuss latest news and additions to our favourite coins and reevaluate what the best option is here. Based on facts! Proof me that BitShares is not the best investment and by doing so convince yourself you are making the right decision.
This is all informational and hopefully over time factual, so don’t hold anyone responsible but yourself for making an investment decision that popped your balloon.
Check the Benchmark out between Bitshares and BTC.
Why I think a paradigm shift will happen that involves BitShares.
@OriginalWorks check this out.
nice work get 2 voted :D
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It is a mystery. But to unravel it you have to accept a few of bitshares weak points.
Poor governance. Compared, lisk and ark make much more sense to support. To my astonishment, my little investment in ark skyrocketed a few weeks ago. By far the most hands on governance I have seen. Revenue sharing makes the whole chain super dynamic.
Bitshares is centralized. Concentrated power makes it hard to do the most mundane maintenance work on the flagship product. Let alone to develop it further.
The community is toxic. New ideas and fresh views are dismissed pronto.
The dex is too complex for mass adoption.
Marketing consists of much fluff and little or no measurable effect. For every new aphorism there is another sharp drop.
The dex is bloated with shitcoins that are either fraudulent or with little or no value. Stan admitted it: 90% has no viable use.
I'm probably going to get a lot of flak for spilling the beans. But this is what I have observed. It is sad to say a brilliant product product is hampered by its own proponents and indecisiveness.
Hi funkit, thx for your feedback/ comment. I am after the facts/ truth of coins. So for instance you mention poor governance and Bitshares being centralised.
What makes you say this, could you elaborate, is there proof of this?
I am not dismissing what you say, but I can only take into account, those things that can be proven, as the rest has to be regarded as legend.
In terms of the Dex being too complex, I would have to agree, but I don’t see this as something that can’t be fixed through using better UI in the future.
It is a working product, which is more than most coins can say and I am expecting they will improve it over time. But I would love to hear feedback from @stan regarding this or any of the developers.
Marketing is very much in the pipeline, not sure what you mean by fluff, but I agree marketing has been very low key until now. But looking at what @stan has in the pipeline, I would say things will change very soon in that respect. Which in my eyes makes it very investible right now as not many coins have a million dollar set aside for a good cause, with a big campaign behind it. http://billionherocampaign.com
With comment nr 6 I agree he mentioned that there are a lot of coins that are not worth investing in, but that doesn’t mean the ecosystem doesn’t work.
It was meant to be a factory of coins allowing people to create whatever they want. Also opening businesses or crypto enthousiast to the new world of crypto. This by itself should be regarded as a very positive thing.
If the exchange becomes garbled and messy due to the amount of “shitty” coins I agree something needs to be done by this.
Fraud and crypto/ money go hand in hand, any exchange will have to find a solution for this.
Some of those coins will become investible over time and most shitty coins will stay shitty. I foresee that the exchange will overcome any issues over time with regards to this. Again if any of the devs can elaborate on these issues it would help!
Thanks very much for your info and would love to hear your other views. Also you mention it is a brilliant product, so would love to also here what you think it excells in. And do you foresee the point that you mentioned as the end of BitShares or as points that can be worked on?
It will take time but eventually I am planning on doing all coins and putting them in some type of order of investibility if that is a word, so Ark will eventually be covered as well. Any input to put Ark in the picture or links to fit on the list I would appreciate the help.
I have a brilliant idea of how to solve a lot of the issues. When I feel like it, I'll sketch it out. In my mind it is real simple to make bitshares the apple of crypto. Simple because the infrastructure is in place. The resources are there.
But is there support? Is there willingness to take a step back and get a better view?
Hi funkit,
It would be a good time to come up with proposols as @stan is shaping the future.
I think they would appreciate any ideas, the best place is probably the telegram
, or indeed post to try and get visbility from the devs or @stan.
Weird that one person would have the power to stop a change that is generally as a whole accepted, could it have been that all votes were 50/50 so he was the decisive factor?
In the paper it clearly mentions that Bitshares is build to be flexible, but changes would have to be approved, I thought that approvals are normally done by the shareholders/ witnesses?
I have to read up on this area as I admit, I am not to hot on this!
If you remember bill butlers worker proposal, which i supported, it was debated up and down and everyone agreed it was a good one.
But it needed a certain chinese to be executed. This is centralized power. And luckily the chinese supported it too once someone translated it to him. It's just an example of how necessary work is delayed.
I also wonder why BitShares has dropped to below 7 cents (USD). I don't have a lot of cash right now, so I'm glad for the price drop as I was able to grab about 600 more BitShares. I kind of hope it stays low for a little while so I can get more.
Right now, I'm also learning as much as I can and experimenting with trading on OpenLedger. So far, I have had quite a bit of success with trading.
There's bitcoin down here