Author Topic: Bitshares will be missing out on a huge market if...  (Read 3159 times)

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Offline renkcub

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FIAT, stock, index fund, and other commodity derivates are a different story though. Bitshares' killer feature is these types of SmartCoins...

While I disagree BitBTC is of no value as you state, I do agree on this point.

Nobody gives a flying f*ck about BitGold or BitSilver until BTS and liquidity gets sufficient for multi-million dollar bets on these assets, but why not create ETF SmartCoins representing "real world" markets? Especially those 3x leverage funds. That would make actually worth buying for Gold/Silver as it represents more risk/volatility/upside, which would in turn help kickstart SmartCoin liquidity and volume.

Examples:

NUGT: Daily Gold Bull 3x
LABD: Daily S&P Biotech Bear 3x
SPXS: Dailyu S&P 500 Bear 3x
This would be a MASSIVE winner, probably overnight.

Can anyone help me propose create new smartcoins like these, and get the Committee to take them over (not sure how this works)? I can get the voting weight, I'm sure. Just need technical / witness help...




Offline yvv

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As far as I understand, atomic swaps is still under development, I mean, this is not something you can plug into blockchain right now. I is correct? Anyway, this is something we should watch closely.


Offline severo

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Where is a DEX without third party risk?

Better DEXs are coming soon (months, not years). The whole point of a DEX is to eliminate third party risks. Bitshares' DEX has IOU risks (Open Ledger's BTC, LTC, etc.) and/or systematic risks (Smartcoins). Plus, both of those assets have far less utility than the real assets.

The DEX of bitshares is the closest thing to that concept
You've got to consider the future if you are speculating in cryptos. To judge things as they exist now is too short sided.

and may be among the first to use Atomic Swaps if Open Ledger performs the promised developments, then our DEX could exploit the potential of BitUSD very well, without others taking advantage of that.
"may be" is not good enough. It needs to happen, and it needs to happen ASAP before another USD derivative gains network effect in this market.

Tether does not have any reliability. There is no real support and it can be stolen http://news.8btc.com/30-million-usdt-hacked-might-favor-bitusd-of-bitshares
Tether 24hr volume: 632,797,000
bitusd 24hr volume: 1,329,530

The reason why you and I hate Tether is irrelevant. Look at the scoreboard which reflects reality. Since Tether's inception, it has schooled bitusd in use and adoption. People don't care that it is centralized and could collapse any moment. All they care about is that it has a high amount of liquidity, and that it is closely pegged to the USD.


For the same reason we would have no need to develop any DEX: people do not care to use centralized exchanges. Why are we going to use cryptocurrencies, if 99% of people prefer FIAT ?. Look at the reality.

However I am completely sure of one thing: with Tether we are going to the next BTC collapse, very similar to MtGOX, it is only a matter of time.

I do agree that having Atomic SWaps soon in Bitshares is an existential need. We have to collaborate in everything we can.

https://bitsharestalk.org/index.php/topic,25187.0.html

Offline oco101

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So can you name a few of this amazing new DEX coming?

 
There are better designed (with no derivatives or IOUs) DEXs coming.


Offline CoinHoarder

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Where is a DEX without third party risk?

Better DEXs are coming soon (months, not years). The whole point of a DEX is to eliminate third party risks. Bitshares' DEX has IOU risks (Open Ledger's BTC, LTC, etc.) and/or systematic risks (Smartcoins). Plus, both of those assets have far less utility than the real assets.

The DEX of bitshares is the closest thing to that concept
You've got to consider the future if you are speculating in cryptos. To judge things as they exist now is too short sided.

and may be among the first to use Atomic Swaps if Open Ledger performs the promised developments, then our DEX could exploit the potential of BitUSD very well, without others taking advantage of that.
"may be" is not good enough. It needs to happen, and it needs to happen ASAP before another USD derivative gains network effect in this market.

Tether does not have any reliability. There is no real support and it can be stolen http://news.8btc.com/30-million-usdt-hacked-might-favor-bitusd-of-bitshares
Tether 24hr volume: 632,797,000
bitusd 24hr volume: 1,329,530

The reason why you and I hate Tether is irrelevant. Look at the scoreboard which reflects reality. Since Tether's inception, it has schooled bitusd in use and adoption. People don't care that it is centralized and could collapse any moment. All they care about is that it has a high amount of liquidity, and that it is closely pegged to the USD.
« Last Edit: November 21, 2017, 10:44:54 pm by CoinHoarder »
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Offline severo

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Where is a DEX without third party risk? The DEX of bitshares is the closest thing to that concept and may be among the first to use Atomic Swaps if Open Ledger performs the promised developments, then our DEX could exploit the potential of BitUSD very well, without others taking advantage of that.

Tether does not have any reliability. There is no real support and it can be stolen http://news.8btc.com/30-million-usdt-hacked-might-favor-bitusd-of-bitshares
« Last Edit: November 21, 2017, 09:21:41 pm by erizo »

Offline CoinHoarder

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Atomic Swaps are not implemented ASAP for both the BTS token and all of its its SmartCoins.

The Lightning Network and Atomic Cross Chain swaps will enable high interoperability between blockchains. The DEX is no longer Bitshares' killer feature. There are better designed (with no derivatives or IOUs) DEXs coming.

IMO, bitUSD is Bitshares' last hoorah. It is the oldest, and most trusted, decentralized $1 USD-pegged derivative in existence.

Making Atomic Cross Chain swaps work for bitUSD could establish it as the go-to option (a base trading pair) for other better designed DEXs. They will need a trustable USD pegged token.

If Tether gets Atomic Cross Chain swaps first, then it might be game over for Bitshares... they already have the centralized exchange market on lockdown. The decentralized market is the only market left for bitUSD.

Forget the crypto derivatives like bitBTC etc, cross chain swaps will make them obsolete. FIAT, stock, index fund, and other commodity derivates are a different story though. Bitshares' killer feature is these types of SmartCoins, not the DEX (unless cross chain swaps are implemented in the Bitshares DEX that is...)
« Last Edit: November 21, 2017, 06:38:28 pm by CoinHoarder »
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