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General Discussion / Re: Why Vision Matters Blog Post
« on: December 30, 2015, 03:02:13 am »The DEX is "done" except for perhaps the MAKER proposal which isn't even necessary. SVK and CASS are working on improving the User Interface of the DEX. Michael is working on improving the API to be similar to poloniex.
The key to bootstrapping any exchange is having UNIQUE assets to trade. This is something that FBA and new business models will have.
I haven't forgotten the DEX, it is a critical component. I have just learned through experience that selling a DEX is a hard niche market.
Banking partners are telling all blockchain companies the same thing: "we don't want your chain, we want our own". Anyone holding out for banking partners getting on board any existing public chain in a meaningful way needs a wakeup call.
BitShares needs to provide VALUE to the average joe. A DEX doesn't provide that value on its own. A bond market doesn't provide that value on its own.
Selling people "peace of mind" and an opportunity to "change the world" and "fight the empire" and "fight Obamacare" is a much easier sell in my own market research.
Please, someone tell me the market value of Poloniex.. how much is their exchange worth? How much is BitStamp worth? BitFinex? The combined revenue of all crypto currency exchanges is less than $25 million per year. If we assume these exchanges operate with a 50% profit margin then that means $12 million per year in profit. Based upon a 5% dividend, this would put the combined value of all exchanges in the cryptocurrency space at $240M dollars and my guess is that is very high.
So if BitShares grew to become the only exchange in the entire market it would be worth at most 24x its current valuation.
Bitcoin is valued because of the COMMUNITY of freedom activists that are using it and promoting it. It has no revenue based valuation. A DEX doesn't inspire a community following like Bitcoin has.
Lets gain some perspective before calling for the DEX to be "finished" as if that will magically make BTS grow in value 10x.
"Bitcoin is valued because of the COMMUNITY of freedom activists that are using it and promoting it. "
Bitcoin is valued simply because big speculative capital (including the ones owns big mining operations) have enough capital to hold it .
freedom activists have zero money to lead bitcoin this far . They're insignificant . However , they speak things people likes to hear , so they become the main role in front of media .
Bitcoin's rise is not a result of promotion , usage . Bitcoin is a perfect speculative object for capitals to gain profit , the basic rules can not be changed , it doesn't controlled by single person , that's perfect for capital to speculative on it .
If you can't see that , no matter how many different community you try to attract , you will never copy the same success of Bitcoin .