Author Topic: Why have you stopped using BitShares?  (Read 33513 times)

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Offline R

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Have you gained further insight into this issue?

How were you affected by the Telegram group bans?

Starting with the Telegram group bans.  It is obvious to many, IO Banker is a hinderance with the bitshares community.  This becomes a problem across platforms, as differing views and constructive criticism is what drives innovation.


On a more positive note,

Haven spoken to many people online/offline in regards how/why/when they utilize a blockchain has narrowed down one sticky point for sure.

Ease of use was the common denominator.

This leads back to why centralized exchanges such as coinbase and now the btc etf have gained massive volumes.  Many older users are simply hesitant to trust themselves with self custody, stating it was too difficult to manage.  People are comfortably with what they know, the banking and investment houses as we have today.  One user brought up how quickly people's mind will change if they faced banking capital controls such as were instituted in Greece awhile back.

Point blank, Bitshares needs a modern, simple, easy to use UI.  One app with the same interface across platforms would be a homerun.

Yeah, the "official" telegram channels are the private property of individuals who wields the admin powers entirely at their own discretion, I wouldn't consider such a ban the official stance of the DEX against you.

I hope the astro ui project can be the building blocks for such an UI, however it still requires computer terminal experience.

Hopefully the Beet and BeetEOS wallets can also replace the difficult to use UIs they disliked too.

It's baffling really, for the "goxxing" and countless fraudulent CEX closing down that people are still content to trust them entirely, I mean 400m BTS was just given up on Binance by balance holders without a peep, that was pretty nuts. The only way I can think it wasn't worth it to people to withdraw is if there were millions of accounts holding tiny amounts of BTS on binance rather than a few large holders.

It is quite interesting however that a month later Binance has barely shifted any of the BTS they "bought" from their users, they now hold just shy of 10% of total supply and at the pace they're selling it'll take years for them to dump it all. So Binance therefore seems to have a multi-year plan for Bitshares.. interesting..

In other news, Binance ex CEO is being sentenced on the 30th April 2024, will it be decades or months? Ready the popcorn..
« Last Edit: April 20, 2024, 12:56:34 am by R »

Offline Brekyrself

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Have you gained further insight into this issue?

How were you affected by the Telegram group bans?

Starting with the Telegram group bans.  It is obvious to many, IO Banker is a hinderance with the bitshares community.  This becomes a problem across platforms, as differing views and constructive criticism is what drives innovation.


On a more positive note,

Haven spoken to many people online/offline in regards how/why/when they utilize a blockchain has narrowed down one sticky point for sure.

Ease of use was the common denominator.

This leads back to why centralized exchanges such as coinbase and now the btc etf have gained massive volumes.  Many older users are simply hesitant to trust themselves with self custody, stating it was too difficult to manage.  People are comfortably with what they know, the banking and investment houses as we have today.  One user brought up how quickly people's mind will change if they faced banking capital controls such as were instituted in Greece awhile back.

Point blank, Bitshares needs a modern, simple, easy to use UI.  One app with the same interface across platforms would be a homerun.

Offline R

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Have you gained further insight into this issue?

How were you affected by the Telegram group bans?


Offline Brekyrself

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Historically BitShares was always top 5 for operations in a 24 hour period, see: Blocktivity

What happened?

The blockchain space has been moving towards DeFi for quite awhile and with recent regulations around the world, DeFi is no longer a choice, but a requirement. BitShares has the ability to become the clearing house for transacting in other crypto.

How should development time be spent?
How to onboard new users?
How to attract new developers to build apps on top of the BTS blockchain?
How to grow the community once again?
UI - Ease of use and understanding has always been an issue with BitShares. DeFi is complicated and overwhelming for new users. A simple and advanced user interface would greatly improve new user experiences. This can be seen with any modern day stock exchange broker, bank website, even coinbase.

Bitassets - These were a giant draw to utilize the Bitshares blockchain. They have been globally settled multiple times now and have frustrated many traders. The underlying algorithms have been tweaked to prevent gaming the system however they still remain in a globally settled state. Is it as simple as bringing back these stable"ish" coins to regain liquidity?

Documentation - Update all documentation to ELI5 standard. BTS is way beyond a standard send/receive blockchain. Simplified documentation for developers is a must, otherwise they will get overwhelmed, frustrated, and look elsewhere.

Simplified Gateway Setup - Many redundant gateways / liquidity pools will be required for users to exchange crypto. Simplify the process to setup a hosted wallet/gateway/liquidity pool.

What do you think will jump start the community once again?