Here's the thing about it being a bubble.. what can customers currently do with it other than speculate or buy BitUSD? That makes it a bubble. Maybe a bubble within the stealth phase in the long run.. but a bubble none the less.
Anything you can do with BitShares, you can do with Nxt.. except you can also do far more with Nxt, you can actually buy/sell stuff with Nxt.. some stores accept it, there are many websites all over powered by Nxt and using Nxt for business, it's all over the place and has a lot of community support and has for a while. Some big name payment processors are going to be adding it soon, they have a Point of Sale payment system coming out soon. The Nxt marketplace just launched. Except granted DPOS is quite cool.. still not as cool as Nxt's upcoming Instant Transaction system.. it's actually going to be much more decentralized Instant Transactions unlike DPOS, but granted that sounds like it's a long way away and until implemented, doesn't do much for Nxt. Nxt has much more of a network effect going for it.
I'm comparing it to Nxt because BitShares is currently much like Nxt was in December of last year and both are POS and attract similiar crowds. It'd been in development for a few months and had a lot of potential and we all assumed that everyone else must see the same potential we did. But guess what, they didn't and never do. If they couldn't use it right now to do anything, then why buy it right now.. why not wait for the excitement to die down and see if it was actually going to have staying power. Granted FUD about the 'unfair' distribution didn't help, but Nxt is still just as revolutionary as BTSX, if not more as it figured out much of this stuff first.
But Bitshares has it's own brand of FUD people are spreading about it being centralized due to DPOS.. which is partially true given you can vote for multiple delegates. And if someone manages to get 51% of the delegates, they can simply choose to stop including transactions that allow holders to choose different delegates and suddenly BTSX is dead. Which is easier and cheaper when you only have to get 50 delegates by convincing people to vote for them without needing to actually buy 51% of the stake. I definitely suspect that something like that will start being used to try to scare people from BTSX and it will affect price.
I'm not trying to scare people just be realistic.. be aware that it is risky and odds are that the second phase of the first bubble will break soon. This whole talk of BTSX being revolutionary is part of the 'New Paradigm' that comes will all bubbles. Don't lose half your life savings because you invest it all in now realizing that BTSX has long term potential, then the price halves.. or more. Wait until after the price halves so you can buy twice as much! Just please, download the Nxt wallet found at nxt.org.. and tell me that you really think that BitShares has Nxt beat feature wise. BTSX has some improvements and features that Nxt has been slow to implement. I'm not saying switch to Nxt either.. just try to remove emotions and not lose too much money, especially if you're a little guy who can't afford to lose too much.
Oh and yes, SuperNet might be centralized currently, I think currencies are held via multi-sig.. I think that control of it will be gradually more and more decentralized as the Multi-Gateway is expanded and more currencies are added to MGW. Which is a really cool project by itself.. you can trade Nxt and BTC in a decentralized fashion!
You make some excellent points! I have used the Nxt platform recently for exactly the reasons you state, call it due diligence or market research.
Perhaps showing my age and lack of tech savvy here, but I have dismissed Nxt as a contender for the next big thing.
Why?
Nxt.
What the hell is Nxt?
Nxt is like Linux, perhaps OS/x. Yes, great feature set! Yes, it works. Yes, there will be a dedicated community and it will probably persevere. But will not see mass adoption as the next big thing, simply because Nxt is not going to resonate with masses.
Bitshares will be the Windows of crypto.
Why?
Because Bitshares.
The feature sets are likely to be comparable and whether one tech or the other is superior is contentious. But I believe the vast majority of folks will intuitively choose Bitshares over Nxt for no other reason than familiarity:
Bit(coin) = money.
Bit(share) = investment.
It is simple... and nothing sells like simple.
Branding/marketing is immensely powerful and is more important that any other factor in the success of a business/product.
The Bitshares brand has an enormous competitive advantage in the 2.0 space as it is the only 2.0 platform able to directly piggy back on the success of Bitcoin through phonetic association.
Everyone else is starting from scratch to build awareness and overcome the scamcoin stigma.
In my opinion the Bitshares brand, combined with the Bitshares tech (particularly conf. time, TITAN, and pegged/interest bearing assets), are so advantageous as to preclude any other current 2.0 competitor. Even for diversification/risk management!
That is my non-technical, and perhaps misinformed, disqualification of an entire platform based solely on branding.
Topic: When will we achieve next order of magnitude increase? (Read 21631 times)
