Some may say the 'perfect storm', others see the confluence of factors that will conspire to produce a history defining lunge in pricing; towards the stratosphere!
Let's take a sneak peek at BitShares.
THE PRO's SNAPSHOT:
- In terms of transactions on the blockchain, BitShares is already #2 (has also been #1 recently) This indicator in my opinion is one of the best predictive indicators of value. (#1 is STEEM)*
The shot below shows that in the last 24 hours, BitShares had over 1.1 million transactions. BTC in the same period had 178,000.
2. Transaction Processing Time
On average, a Bitshares transaction is completed within 3 seconds. Compare that to Bitcoin which can be anything from a few hours to days. ETH is anything from 5 minutes - to a day.
3. Capacity Used of their Blockchain
This is a really interesting one. If you go back to the Blocktivity.org chart in #1, you will notice that both ETH and BTC are running at half of their capacity in terms of transactions. BitShares on the other hand, the needle has not even left the zero position. The net meaning is that even with BitShares doing more transactions than both ETH and BTC combined, it hasn't even registered on the meter.
Considering that we are all driven by economics, fees is a massive consideration.
Bitcoin: Can vary from a few dollars to over US$55 (Jan 2018)
ETH: Between US$.50 cents to over US$4
According to the devs of BitShares, the platform is capable of processing 100,000 transactions per second (tps) and even more with minimal optimisation. A comparison with VISA, which is one of the largest financial providers in the world, handles, on average, 2,000 tps with a maximum capacity of 24,000 tps.
Bitcoin on the other hand can currently provide 3 - 7 transactions per second (tps).
- The current chart:
Excuse my amateur drawing skills. I think my 1 year old could do better. The point here is that we have a great example of a cup and handle. If you take a look at the MACD, it looks like we are getting closer for a cross over.
THE CONS SNAPSHOT:
- The UI for some is dated and without some key features.
Personally, I have no issue with the UI. I find it practical. Having said that, if you were to compare it to Bitfinnex, it is clearly lacking some features.
- It seems that most centralised exchanges have an issue with BitShares.
This is kind of obvious as most exchanges would see BitShares with its decentralised model and extremely low fees as a threat. Now @Stan has gone on record saying that a number of new exchanges will be announced this year.
Given the facts (and there are a lot more I could list), I am very bullish on BitShares. If you buy and hold this baby, in a few years you could be in for massive profits. More importantly, you will be part of an amazing vision that has positive effects on millions of people.
I would love to hear your thoughts.
Love, love, love.
Remember: DYOR - Do Your Own Research. This information is meant for entertainment purposes only. Authors who spend free time gaming, is akin to listening to Homer Simpson for advice.
I'm beginning to have a feeling of inevitability!
I know right.
When a coin has value and performs valuable functions in an ecosystem, it's expected to see it's value skyrocket.
You seem to be a big fan of bitshares. Does @twiceuponatime share your faith.
I hate to admit it, but it was actually @twiceuponatime that got me in to crypto. And he is the world's biggest fan of bitshares!
Did twiceuponatime choose his name, because he's done this before and he's willing to do it again?
Nah, it's an ego thing. He's trying to imply that he is twice the man that I am. The fool.
I can only imagine the excitement on his face when he hears this news. Do send my regards to him.
The reason you have that feeling, is you have spent many years looking at things... and with Bitshares you definitely know what it is you are looking at. :)
The rocket photo is very fitting.
As @stan would say (to his son, bytemaster): "It's not rocket science!"
@onceuponatime LOL! I know. Do you think that rocket is big enough?
It's big enough for me :-)
I'm with you 100%. Bitshares is 95% of my portfolio. :)
Excellent Tony. BTW, I love your videos.
Some recommended reading if you really are 95% all-in on BTS or the BTS ecosystem.
MOON SOON !!!
@dalexx great name! my ‘d’ is a Dale too. :)
Sit back, relax and let’s enjoy the ride.
the platform really needs to fix few bugs and also increase the node speed
@skreza good point. In my opinion all platforms are works in progress. I am happy as long as I continue to see the effort. The results will eventually follow.
This is another excellent piece of education, great information for the masses to become aware of. Thank you so very much! Upvoted a full 100%, resteemed and shared.
Much appreciated @eric-boucher. Thank you! I am humbled. Love and light.
Coins mentioned in post:
Well, I do have a bitshares wallet but it's empty for now. I'm going to have to add funding it as an item on my checklist.
It's important for those on the blockchain to diversify their portfolio. Not putting all your eggs into one basket and all.
Absolutely @jacksondavies. You have sparked me into prepping another article on how a good spread in your portfolio (and at least 10- 20% in cash) can help you to both ride out the rough seas and enjoy the trade winds.
That's great @dblack. I'll be looking forward to reading that article.
@jacksondavies here you go: https://steemit.com/cryptocurrency/@dblack/what-constitutes-a-good-crypto-portfolio
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I am a newbie in these kind of topics but I have a question: how fast can Bitshares evolve trying to meet the demands of modern users of exchanges? Because to me that’s the key factor in beefing successful. They might be lightning fast compared to all the other blockchains but if they are slow when it comes to adding exchange features or changing the user interface then I think adoption is gonna be hard ( in my opinion).
@the-beard good question. Quoted from the official “BitShares: State of the Nation”:
“Current registered wallets/accounts within the Bitshares network is 897514; an increase of 10689 wallets/accounts since last week“
Growing at the rate of 10,000+ new users, I personally believe that they are in great shape. Having said that, the more improvements rolled out (and there are many on the road map), the more users will obviously increase the underlying value of BitShare’s platform.
On another note, it is important to know that BitShares is not just a DEX exchange. It is a platform for smart coins (think: all the hard work done for those wishing to ICO), it is also a platform that can be built upon. At present there are many companies using it and there will be many more in the future.
I suggest you read: https://steemit.com/bitshares/@steempower/bitshares-state-of-the-network-1st-may-2018
You will find the details of those deals.
Thank you for the answer.
I’ll read the link that you provided.
BOOM is a mild term in this case.
A thundering massive explosion is where it can go. ;)
Good analysis and the part you said:
...if that doesn't send the message loud and clear, nothing will.
All you can do is lead people to water. It's up to them if they have a sip.
@itelliguy Thank you for your comments. Much appreciated. Explosion is right and the modifier “Massive” is right on the money. Tick, tick, tick.......BOOM!
Hi @dblack, thanks for your post! I didn't knew Blocktivity, it shows very useful data!
I'm new in steemit and relatively new in crypto. I'm looking for a site to compare the fees and the transaction processing time. I've found bitinfocharts.com but it doesn't have bts to compare :( Do you know if there's a site that includes bts?