121
General Discussion / Re: Bitshares price discussion
« on: October 12, 2016, 01:02:05 am »@lil_jay890 When you look at the top 10-20 on coinmarketcap one could say they all "suck." Bitcoin has the first mover advantage however BTS and yes Steem are the only ones doing something different with real world use cases.
I did see in the troll box yesterday, OpenLedger mentioned a GUI revamp being done this month. People do not understand bitcoin and when they load up bitshares, it's simply overwhelming. I would hope to see the GUI revamp increase new user traction/retention and thus should drive up the price of bts.
If Openledger is updating the GUI in an attempt to drive traffic and retention you should buy OBITS, not BTS. BTS just doesn't give any real reason to hold the token. Network traffic and Collateral lock up have increased consistently over the last several months, but the price has stagnated and even declined.
I've been advocating forever that the only way that the BTS token becomes valuable is if the BTS network starts turning a profit. But the governmental process is weak and there are no plans to make the network profitable.
How would Bitshares need to look if it were to turn a profit? Our main cost are: Dilution due to vesting which should end this November, witnesses which help secure the network, worker proposals which rarely get voted for, and... what else?
Is it systemic to the network no matter the scale? If so then the project simply can not succeed no matter what. Or is it simply that the network has not scaled to a break even point yet?
On the current path, people will get rich on the bts network. They will be the uia issuers that basically get to list and trade their assets on the network for free. The bitshares shareholders are paying to secure the uia issuers assets. One would think that network activity would have increased exponentially as people discovered this benefit, but while the increases noticeable they have still been tepid at best. Maybe this volume will come, but it still won't increase the value of the token.
Bitshares needs to cater to forex traders and raise the fees. Stop loss and take profit orders need to be implemented and the GUI for shorting smartcoins needs to be simplified. Bitshares was designed as a dex, and every exchange makes its money through fees or spreads. Traders will happily pay these spreads for liquidity (which we don't have) and security (do have). Because of the increased fees from traders people will start buying bts because it is now profitable. Some will leverage their investment by shorting smartcoins which will create more liquidity for traders. More liquidity=more traders=more fees= more bts speculation=more smartcoins=more liquidity. Positive feedback loop that will result in a higher bts token price.
Liquidity needs to be jump started a worker proposal. The referral program needs to be revived to give wallet and gui providers incentive to better their platforms. A second worker proposal needs to be created for the implementation of stop loss and take profit orders.