Why I think BitShares will succeed. Do competitors have all our features?

[karnal]

We need assets that track the value of things that appreciate in price, only then will we get a market.

Gold is hard money and over 60 years has only appreciated 1% above inflation, stocks have done the best.

Warren Buffett says if your not going to investigate stocks to often buy an index fund that tracks the market.

Investing in stocks & indexes from BitShares would be awesome indeed.. one less reason to have a legacy bank account.

[Tuck Fheman]

I do not think we will see BTS under 2000 ever again.

http://assets.diylol.com/hfs/7a3/204/122/resized/sterling-archer-meme-generator-do-you-want-to-jinx-it-because-thats-how-you-jinx-it-0585df.jpg

proof

[eagleeye]

We need assets that track the value of things that appreciate in price, only then will we get a market.

Gold is hard money and over 60 years has only appreciated 1% above inflation, stocks have done the best.

Warren Buffett says if your not going to investigate stocks to often buy an index fund that tracks the market.

[Helikopterben]

Has anyone checked out Veritaseum.  It looks like some serious competition to me.  Reggie Middleton's reputation speaks for itself. 

Veritaseum uses only bitcoin, and subsists completely on the bitcoin blockchain. It is the only bitcoin wallet system that can trade simple and complex value structures without using non-bitcoin tokens, alt coins, sidechains or alternative blockchains. It can trade the value of over 45,000 tickers in all asset classes, from major exchanges from all around the world. At it's essence, Veritaseum is a hyper-intelligent Bitcoin wallet "system" that is able to create and interpret smart contracts through the blockchain. It coordinates with an Oracle to gain access to conventional, physical and legacy financial data and information and uses it to price, value, trade and settle OTC, P2P financial instruments - all in BTC.

The Veritaseum platform, using nothing but pure bitcoin with no tokens or alternative internal currencies, moves the value of all that he mentioned plus much more (over 45k tickers), with absolutely no counterparty risk on a fully autonomous basis using smart contracts based solely on bitcoin script

A member of our board of advisors, which we are just putting together, is the ex-chief investment office of one of the largest funds in the world — a few hundred billion dollars. He was a maverick in his space, is excited about the opportunity to literally shake up the world of finance, and is tasked with basically getting institutions to do trades. So, for every ten billion dollar institution that [trades on our platform], that's the equivalent of an entire Bitfinex in one month's worth of trades. That's how we're going to start, and then we have different verticals — we have that vertical, we have retail, and we have other, specialized verticals."

Some pretty bold claims by Middleton.  I executed a test trade (short IYT, long USD) using their platform and I was a bit surprised the order got filled because of the P2P nature of the contracts and what looks like little volume on their system, but it does look like they are moving forward pretty quickly.

[Chuckone]

Why are people talking about BitUSD having a premium value? Isn't the whole point that BitUSD is supposed to closely match USD? Therefore having any value above or below $1 is bad, right?

Doesn't work that way. bitUSD at present is a premium that costs quite a bit more than $1.

Doesn't look like it on BTER.. and in my opinion that makes bitusd less valuable if  it's price is sundown different than USD.. while point is they are supposed to match.

?

First of all, most people don't really trust BTER anymore after the whole hacking situation. Second, external exchanges will always suffer liquidity-wise compared to the internal BTS exchange (where we want trading to happen). Third and most obvious, BitUSD 2.0 hasn't been released yet...

What is BITUSD 2.0? How does it work?

Yes,  but still the point is that it's selling point is that it's value is supposed track USD.. right?  So it doesn't make sense to pay more than $1.01 or so for it.

Yes, it's suppose to be "around" 1$. But the term "market-pegged" doesn't mean that it's suppose to track exactly the value. Since both long and short aren't perfectly balanced at all time on the demand side, it's normal that its value fluctuate. Market forces are what defines the value of the bitUSD compared to the USD. With BitAssets 2.0, the rules will be such that the peg will fluctuates over 1$.

[hughmanwho]

Why are people talking about BitUSD having a premium value? Isn't the whole point that BitUSD is supposed to closely match USD? Therefore having any value above or below $1 is bad, right?

Doesn't work that way. bitUSD at present is a premium that costs quite a bit more than $1.

Doesn't look like it on BTER.. and in my opinion that makes bitusd less valuable if  it's price is sundown different than USD.. while point is they are supposed to match.

?

First of all, most people don't really trust BTER anymore after the whole hacking situation. Second, external exchanges will always suffer liquidity-wise compared to the internal BTS exchange (where we want trading to happen). Third and most obvious, BitUSD 2.0 hasn't been released yet...

What is BITUSD 2.0? How does it work?

Yes,  but still the point is that it's selling point is that it's value is supposed track USD.. right?  So it doesn't make sense to pay more than $1.01 or so for it.

[nomoreheroes7]

Why are people talking about BitUSD having a premium value? Isn't the whole point that BitUSD is supposed to closely match USD? Therefore having any value above or below $1 is bad, right?

Doesn't work that way. bitUSD at present is a premium that costs quite a bit more than $1.

Doesn't look like it on BTER.. and in my opinion that makes bitusd less valuable if  it's price is sundown different than USD.. while point is they are supposed to match.

?

First of all, most people don't really trust BTER anymore after the whole hacking situation. Second, external exchanges will always suffer liquidity-wise compared to the internal BTS exchange (where we want trading to happen). Third and most obvious, BitUSD 2.0 hasn't been released yet...

[hughmanwho]

Why are people talking about BitUSD having a premium value? Isn't the whole point that BitUSD is supposed to closely match USD? Therefore having any value above or below $1 is bad, right?

Doesn't work that way. bitUSD at present is a premium that costs quite a bit more than $1.

Doesn't look like it on BTER.. and in my opinion that makes bitusd less valuable if  it's price is sundown different than USD.. while point is they are supposed to match.

[mangou007]

The problem i can see with that point of view is that people not comprehending the value of bitusd over usd.  So the issue is possibly one of education.

What about BitUSD vs some other CryptoUSD?

mmm guess we have to ask ourselves if there is enough perception of value to utilising the Bitshares network. If not, maybe a pegged cryptoUSD without a premium will out-compete bitUSD...but will their economics be sound? Will their network be appealing? Difficult to say on any of this. Difficult to say what consumers will value. The world is changing rapidly, what they value today may not be what they value tomorrow.

The bitUSD is one thing and if anyone out-compete it, this cover only a part of the globe even though the dollar is still a global economy currency, in order to focus worldwide, they should out-compete BitShares on so many other assets that it should not be a real threat at all.
Global economy is one thing, local economy is not something you can just throw away ;)

[BunkerChainLabs-DataSecurityNode]

Why are people talking about BitUSD having a premium value? Isn't the whole point that BitUSD is supposed to closely match USD? Therefore having any value above or below $1 is bad, right?

Doesn't work that way. bitUSD at present is a premium that costs quite a bit more than $1.

[hughmanwho]

Why are people talking about BitUSD having a premium value? Isn't the whole point that BitUSD is supposed to closely match USD? Therefore having any value above or below $1 is bad, right?

[Ben Mason]

The problem i can see with that point of view is that people not comprehending the value of bitusd over usd.  So the issue is possibly one of education.

What about BitUSD vs some other CryptoUSD?

mmm guess we have to ask ourselves if there is enough perception of value to utilising the Bitshares network. If not, maybe a pegged cryptoUSD without a premium will out-compete bitUSD...but will their economics be sound? Will their network be appealing? Difficult to say on any of this. Difficult to say what consumers will value. The world is changing rapidly, what they value today may not be what they value tomorrow.

[hughmanwho]

In order to remain trustless you will always need to download the blockchain first before pruning. Bandwidth is not reduced just storage costs by pruning.

I don't trust poc to claim to do what it says by allowing same level of trust and reduce bandwidth by such a factor.. I guess time will tell when hackers will have motivation to break it.

Actually for every day users bandwidth is indeed reduced.. it's true it's not reduced for miners, we'd need some algorithm that allows miners to process partial blocks or parallel blockchains or something, but it's probably not really needed.  Even at Visa sizes, most miners could handle it today, let alone a few years from now.

What is there to not trust about POC?  I've analyzed the algorithm pretty thoroughly.

[sumantso]

The problem i can see with that point of view is that people not comprehending the value of bitusd over usd.  So the issue is possibly one of education.

What about BitUSD vs some other CryptoUSD?

[jsidhu]

In order to remain trustless you will always need to download the blockchain first before pruning. Bandwidth is not reduced just storage costs by pruning.

I don't trust poc to claim to do what it says by allowing same level of trust and reduce bandwidth by such a factor.. I guess time will tell when hackers will have motivation to break it.