EDIT: I'm making a Step By Step Guide on how Crypto-Traders currently using centralized exchanges can switch to BitShares.
Ah so you're not so bullish on bts anymore?
I still like the fundamentals.
The price dropping to so low in sats doesn't suprise me either. Bitcoin is only just gaining legitimacy among the general public.
Bitcoin is bound to be having a few booms; more and more people are finding out about crypto and the only one that legitimate 'financial gurus' have written anything about is Bitcoin.
I think there are 2 steps to a fiat-using normie into becoming a bitshares-user.
Step 1
First, the most financially literate normies read their favourite financial newsletter; which tells them the hot stock picks of the month, best mortgages and potential speculative investment.
I've seen more and more of these financial newsletters discuss gold, and discuss bitcoin. Once these readers have a laymans understanding of bitcoin, they trust their newsletter guru and then they take the plunge to invest in bitcoin.
These financially literate normies then tell their family and friends about bitcoin. Why it's a good buy, how to use a paper wallet to store it.
Step 2
Some time passes, and the bitcoin holding financially-literate newcomers now have a grasp of the crypto economy. They can find analogies to the legacy-financial sector.
They see that the BitShares DEX is just an exchange with incredibly low usage fees, speed of transfer in, and out, of the exchange, and private key security.
They use BitShares to execute the trades they read about in their favourite financial newsletter.
These trades profit BitShares by way of increased liquidity on the DEX, tx fees, advertisement exposure (word of mouth),
"Hey, bts is great! I want to invest in the underlying asset. I've told all my trader friends about BTS."
Every human can benefit from using the DEX. A bank account, insurance fund, anti-fraud gift cards, ID, provable randomness, etc, etc.
Once the teachers of the world understand, everyone they teach will become crypto-literate. BitShares is a leading product in that market.
Maybe its 10 years away, maybe it's much sooner.
Crypto is an idea, ideas spread quickly.
All of the infrastructure already exists.
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I think BitShares' value is in its derivative exchange. A derivative exchange is a somewhat advanced feature of an economy. The crypto econonomy is still rather tiny on a global scale.
As I see it, all new investment in crypto is excellent news for all crypto holders.
Once within the crypto economy I believe more and more people will become crypto-literite and then make the nuanced decision of which crypto is best at performing a number of different tasks.
I think BitShares is by far the best choice for >50% of those financial services that customers will be looking for.
The Main Risks in not achieving this goal:
1) A competitor crypto builds a DEX that performs all market functions, at a 'just good enough' rate. I.E a shitter product that has a better marketing scheme.
2) BitShares depends on the human effort of it's shareholders.
If BTS Shareholders give up, or lay dormant long enough that a competitor has time to race ahead.
I'm confident that BitShares has the best product, the best management tools and the most freedom.
A lot of the momentum seems to have gone