with only $37,000 24h volume we are 5% down... what does it mean? ( I ask the traders to interpret what means low volume with increased price volatility)
It means there is very little buying support, even at these levels.
The key developers still seem very committed though and there are good developments all coming through soon. If I didn't have any BTS I would take a punt at these prices but as I've already tried to call the bottom incorrectly and lost as a result, I'm personally waiting for a significant reversal in the downtrend or evidence of actual BitAsset adoption before I buy more. (I value BTS almost exclusively on BitAsset progress and adoption.)
BitSapphire though have identified perhaps the key problem with BitAssets which is liquidity. So creative ways to address that are possibly needed.
Also if there was a use for BitAssets like buying Music, Gaming or my personal favourite Blockchain based Gambling, then we could see an uptick in BitAsset use and growth.
The two easiest ways to add gateways to the picture is in our opinion:
- Add legal stock and bond gateways
- Add legal fiat IOU gateways
Both need easy and friction-less KYC to be legally compliant. I think adding easy KYC compliance should be the number one thing in mind of every delegate and wallet creator out there atm.
The easiest to reach potential gateways are most likely already existing equity crowdfunding websites in Europe and already existing Bitcoin ATM networks. The ATM networks especially could easily integrate by providing ATM Gateway fiat IOUs rather than do the whole buying and selling of bitUSD at the ATM. This would also be a lot more secure.
Our two cents.
Agree. As I said a few months back, developing easy fiat on- and off-ramps is tremendously important for BitShares, second only to providing the typical user with a great wallet experience.
I hope our best talent is focusing on fiat ramps
now because of the significant lead time involved. Developing good, legally-compliant ramps won't be easy. It's a bit unfortunate that BitShares has not (yet) been the beneficiary of a price bubble, as Bitcoin was. So, getting a robust system of ramps will take a lot of resourcefulness, persistence, and ingenuity, but IMO it's a make-or-break and of paramount importance.