What is Bitshares exactly? Please ELI5 (Explain Like I'm 5)

[btswolf]

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?

[xeroc]

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 ..

[Akado]

I believe @Xeroc is going to do some whitepapers. Correct me if I'm wrong.

[Samupaha]

Is there any documentation or a white paper on Bitshares 2.0?

Best documentation is Technology page on the website. You might also want to read Lessons Learned from BitShares 0.x from the blog.

[BitEnthusiast]

Is there any documentation or a white paper on Bitshares 2.0? As an investor and stake holder I need to weigh the pros and cons of Bitshares vs Ethereum. And no I don't need anybody to weigh in on "Bitshares vs Ethereum", because I think most forum members will be biased in favor of Bitshares. I simply see Ethereum as a Bitshares competitor and I need to know which is more of a better investment short-term and long-term.

[Akado]

This is related to this thread https://bitsharestalk.org/index.php/topic,18006.0/topicseen.html

Message should be clear on the website, which is not. Someone should be able to visit bitshares.org and have a complete understanding of what BitShares is about.

[lakerta06]

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.

I seriously started to think that well known trolls of this forum are pr attackers, paid (or at least encouraged) by competitors.

[BunkerChainLabs-DataSecurityNode]

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.

Purdy good right here for a 5 year old explanation.

Adult version... If Ashley Madison was using BitShares.. they all still would have not got caught.

[brainbug]

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.

[BitEnthusiast]

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?

[dritz3r]

BitShares is centralized way from Dan and Stan to steal money.

P.S. I'am not a troll. That is exactly my experience.

[Frodo]

BitShares is a decentralized asset exchange for value stable tokens (smart coins).

BitShares lets you issue and control your own assets and can thus act as a crowdfunding platform.

BitShares is self funding and has advanced features to ensure flexibility by stakeholder approved hard forking.

And probably a lot more.

[brainbug]

Likewise, BitShares is an Asset Exchange Network.

Actually BitShares is quite similar to Ethereum but without the (probably unmanageable) overhead of a "Turing-complete"  programming language. Thus, it can be seen to be similar to Java (offering a subset of C/C++) when Ethereum is considered C/C++ (or such). Here the benefit is that the subset is handable and verifyable (.... more robust and safer), and much easier to work with

[cass]

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 an industrial-grade financial smart contract platform.
BTS the digital token issued on that platform, is the cryptofuel to operate on it …

</thinking loud>

[Helikopterben]

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.