I would love to hear more of your thoughts about what BitShares is LACKING.[/b]
EXPOSURE, EXPOSURE, EXPOSURE
as a trader I would not trade a currency that nobody trades to begin with,
this exchange seams not to be in the internet time cyberspace, rather like smoke sign time, where ppl like to buy gold have to wait days or weeks to get execution..
[....]
I rather pay more commission and get filled for the prize I ask for.
What good does it, to pay 2 cents commission for an order when I only can get filled after I have to pay 50 dollar more for BTC because I did not get filled..
its a numbers game, that's for the engineers to consider..
The most advanced system isnt worth a dime if it does not fulfill the needs of the user...
Thanks for the insight into the user-experience of trading with BitShares' products.
If BitShares raised the transaction fee to 50% it wouldn't make a jot of difference to this user-experience problem of orders taking ages to fill.
The fees should stay as they are, the absolute bare-bones minimum.
There exists a bottom, a minimum price, for the cost of a crypto-exchange transaction fee. One day a BitShares-rival could (or will) meet this minimum fee so as to undercut other exchanges.
BitShares' low fees is an anti-competition feature.
This means that would-be competitors to the BitShares network are financially incentivized to join-bts. To team up and share slices of an
even bigger pieA lack of liquidity is the real issue facing BitShares. When liquidity arrives (maybe it'll take years) then the DEX will go on to become the most popular financial exchange used by everyone.
But all of the cool world-changing features; the uncensorable transactions, cheap insurance for the common man, the ability for all to hedge their bets and secure their wealth without permission or identification.
This is the niche that BitShares fulfills, and there are no others who can compete. It is cheaper and more profitable to co-operate with BitShares and use the infrastructure that it provides to conduct private business on top of.
Society of the future will want access to these freedom-creating financial products, and BitShares does the best job at providing them.
With one large caveat: Without liquidity, without market makers, without shorters, without the traders that enable all of these financial products to run smoothly,
...Then BitShares remains an unfinished product.
There are 2 key&essential components of a trade.
#1: The infrastructure: The means with which to conduct the trade.
The gold coin, or bitcoin, serves as money. But you can't create complex insurance policies with just a gold coin.
You can hide your gold in a cave, but you can't trade your gold against the value of another resource without other tools.
Pen's and paper to write IOU's on, "watermarks" to verify document-authenticity, a price-ticker, and so on
Humans have been utilizing financial-products for millenia, they will continue to desire them long into the post-bitcoin era. When a decentralized option becomes available and provides a good user experience (LIQUIDITY), they will flock to it.
#2 The Other Side Of The Trade.
A trade partner, available at your desired time of trade.
In the fiat world, this problem was solved historically by everyone meeting at the same time at the stock-exchange.
The NYSE stock exchange (and all the others) still have limited hours of trading.
Cryptocurrency (specifically the BitShares DEX) allows this trading to occur 24/7.
There need to be traders using the DEX with high-value transactions 24/7 in order for the financial products desired by end-user manifest themselves as a result of trading activity.
End-users cannot purchase the products that they desire unless traders and speculators are already using the exchange, with a trade open and waiting for the end-user to take at their leisure.
Liquidity is very much a part of the user experience