No one has any idea, thats why the price is tanking.
At least with Ethereum you can explain it in one sentence "Turing-complete programmable smart contract currency"
Someone needs to create a one liner like that for BitShares.
BitShares is a smart contract platform and asset exchange with Nasdaq-level capacity built into a blockchain.
BitShares' global orderbook supports trading market pegged and issued assets with minimal fees and the best liquidity.
BitShares is the world's first (potentially) profitable virtual company, by earning more income from providing services than the cost of securing the network.
BitShares is an ideal financial system, where participants have complete choice in their type of savings, which are fully collaterialized and can be lent out globally for the maximum possible return.
The BitShares Blockchain now has a whole new purpose.
Not only is it a second generation coin containing a decentralized exchange that produces smart-currency products...
Now it's also a transparent inter-company network letting exchanges give their customers and assets trading access to customers and assets on other exchanges.Instead of competing with traditional exchanges,
we are multiplying the markets they can enjoy by networking with each other.
Here's the details about why this is revolutionary:Now that you've had time to absorb all the cool new features in BitShares 2.0, its time to start unveiling some of the implications about what is possible. In this post, I'll lay out one of them.The BitShares Smartchain can serve as a backbone
to support live trading between traditional exchanges.
Now, instead of having separate shallow markets inside their own stovepipe order books, they can use BitShares to enable all their customers to trade all their assets with the customers and assets of other exchanges. Small exchanges can band together to attract medium exchanges to join them to compete with still bigger exchanges. Like a rolling stone.
This greatly expands the network effect, liquidity and market depth of all participants. A bigger pie for everyone.
And with our new referral system, every participating exchange keeps their own profits from signing up their own customers and issuing their own assets.
We have the perfect way for them to safely compete and cooperate on a single, compelling, transparent exchange network.The BitShares Exchange Network.So, exchanges can do more than just serve as gateways and bridges.
They can publish their own order books transparently on our Smartchain.So everyone can KNOW that they are honest and solvent.
And every customer holds the keys to their own assets, fully decentralized where they won't be such juicy targets for hackers.
With easy to use multi-sig accounts to make those decentralized accounts even more secure.
BitShares 2.0 has the industrial strength to handle the workload of all member crypto exchanges combined.
It is the perfect application to serve as an inter exchange networking back bone.
(Almost like we planned it that way.)
Yeah, but it will never happen, right?
Not so fast! Check out this week's Big BitShares Announcement!CCEDK.com will put its exchange on a transparent Smartchain offering to trade with other exchanges there.
(And provide them fiat ramps and crypto-aware debit card support in the mix.)Read their news release here. (https://bitshares.org/blog/2015/06/16/danish-firm-set-to-revolutionize-cryptocurrency-industry/)
No one has any idea, thats why the price is tanking.
At least with Ethereum you can explain it in one sentence "Turing-complete programmable smart contract currency"
Someone needs to create a one liner like that for BitShares.
BitShares is centralized way from Dan and Stan to steal money.
P.S. I'am not a troll. That is exactly my experience.
I really appreciate the explanations. I now have a better understanding of Bitshares.BitShares is centralized way from Dan and Stan to steal money.
P.S. I'am not a troll. That is exactly my experience.
Can you explain?
Seriously guys, ELI5 means "EXPLAIN IT LIKE I'M 5"
Here you go:
Sometimes bad people want to steal things you have, especially if it's worth a lot of money. Bitshares let's you put those things (such as gold, silver, oil, and your money) on the Internet where nobody can take them and bitshares also lets you trade those things with other people on the Internet where nobody can stop you from trading them. The best part is anybody in the world is free to do it.
I really appreciate the explanations. I now have a better understanding of Bitshares.BitShares is centralized way from Dan and Stan to steal money.
P.S. I'am not a troll. That is exactly my experience.
Can you explain?
No, he can't. At least he is not corroborating his arguments with facts or evidence; also see his posts in the other threads.
Is there any documentation or a white paper on Bitshares 2.0?Best documentation is Technology page (https://bitshares.org/technology/) on the website. You might also want to read Lessons Learned from BitShares 0.x (https://bitshares.org/blog/2015/06/08/lessons-learned-from-bitshares-0.x/) from the blog.
I believe @Xeroc is going to do some whitepapers. Correct me if I'm wrong.You are correct .. but it is A LOT of work .. BitShares is not just another altcoin .. I will try to release papers when they are ready ... but there are at least 5 in the makings ..
@xeroc what's the status on the 5 whitepapers? only 2 have been released so far. anything still in the works we could help with?I believe @xeroc is going to do some whitepapers. Correct me if I'm wrong.You are correct .. but it is A LOT of work .. BitShares is not just another altcoin .. I will try to release papers when they are ready ... but there are at least 5 in the makings ..