Here's the thing about it being a bubble.. what can customers currently do with it other than speculate or buy BitUSD? That makes it a bubble. Maybe a bubble within the stealth phase in the long run.. but a bubble none the less.
99.9% of Bitcoin, equities, and currencies are used for speculation.. speculative trading is a mechanism in free markets in price discovery.
Anything you can do with BitShares, you can do with Nxt.. except you can also do far more with Nxt
Except NXT doesn't have market-issued assets only IOUs that aren't fungible by the network.. which is exactly what BitsharesX does. That alone is why BitsharesX has well over 10x the volume as NXT.
Except granted DPOS is quite cool.. still not as cool as Nxt's upcoming Instant Transaction system.. it's actually going to be much more decentralized Instant Transactions unlike DPOS, but granted that sounds like it's a long way away and until implemented, doesn't do much for Nxt.
NXT has been talking about an 'upcoming Instant Transactions' since October of 2013 so I'll believe it when I see it. Even if it's implemented soon, DPOS is capable of scaling to VISA-level speeds and transaction volumes.. the 10 second blocks is an arbitrary number but Toast has already run DNS tests with 2 second blocks and other improvements are still actively being developed. Could NXT Instant Transactions even support VISA or NYSE volumes?
Nxt has much more of a network effect going for it.
NXT has good devs but I don't see much of a 'network effect' going on. User base isn't growing very much and NXT has low trade volumes for such a highly priced crypto. IMO NXT shot itself in the foot with the poor initial distribution and has spent so much time developing functionality for a userbase that just isn't there.
I'm comparing it to Nxt because BitShares is currently much like Nxt was in December of last year and both are POS and attract similiar crowds. ...Nxt is still just as revolutionary as BTSX, if not more as it figured out much of this stuff first.
I owned NXT when it first launched (and could only be bought on Dgex) and the software was
far more buggy that anything Bitshares has produced. NXT's alpha was barely useable. And NXT didn't 'figure out much of this stuff first' they just released their product first. While NXT was developing it's full feature set, Bitshares was ensuring it's MVP had the
proper feature set for scaling. Bitshares development was delayed several months because of the design and development on DPOS and TITAN but the end result was superior to NXTs forging model. Now that the Bitshares toolkit is available, DACs will start popping up very quickly. I'm willing to bet that BitsharesDNS will top NMC on Coinmarketcap within two months of its release.
And if someone manages to get 51% of the delegates, they can simply choose to stop including transactions that allow holders to choose different delegates and suddenly BTSX is dead. Which is easier and cheaper when you only have to get 50 delegates by convincing people to vote for them without needing to actually buy 51% of the stake. I definitely suspect that something like that will start being used to try to scare people from BTSX and it will affect price.
What does 'someone manages to get 51% of the delegates' even mean? And what does someone have to gain by breaking the network? Even if a 51% attack occurred, at that point BTSX would be forked and the 49% could say "have fun by yourself, dumbass" and continue as normal. Besides, 51% attacks are possible on all systems.. saying BTSX is more vulnerable that any other system is completely unfounded FUD. I'd be more fearful of majority NXT holders colluding on their forge than delegates being thwarted.
Just please, download the Nxt wallet found at nxt.org.. and tell me that you really think that BitShares has Nxt beat feature wise. BTSX has some improvements and features that Nxt has been slow to implement. I'm not saying switch to Nxt either.. just try to remove emotions and not lose too much money, especially if you're a little guy who can't afford to lose too much.
BitsharesX's market-issued assets set it apart from NXT. I'm willing to bet that BitsharesX will release a new client with most features found in NXT before NXT even releases it's 'Instant Transactions' or market-issued assets.