BitShares Viewed as a Venture Capitalist's Dream
Where else are you gonna get a VC pitch like this?
BitShares is the ideal Venture Capital investment.
- All the technical work is complete.
- The system has been operational for 3 years.
- It’s technology is widely superior to all competitors.
- It processes more transactions per day than all competitors combined.
- It easily exceeds typical VISA transaction rates.
- It is scalable to global loads and its competition is not.
- Its shares are fully liquid and trade on global markets.
- It offers widely needed products and services
- Its technical team is world famous with multiple successes.
- The marketing team is in place and their plan is ready to scale.
- Marketing scale-up is the only remaining cost.
- It can reach the 99% untapped mainstream market first.
- It is likely to see 10x to 1000x growth in the next two years.
Where else can you find a VC opportunity like this?
-- Vitalik Buterin
Can it do another 1000x?
Or would it be better to bet on a younger, stronger bull?
I hope bitshares pick up more press as it seems like a great technological super highway
"It routinely exceeds VISA daily transaction rates." can you point me to some proof of this claim please
VISA rates are typically quoted at 2000 to 4000 transactions per second.
BitShares stress test put it into the high end of this range at 3300 transactions per second.
And that was a limit on how many transactions we could throw at it, not a limit on what it could handle. Never broke a sweat. Lab tests point to 180,000 transactions per second through the code's main choke point.
Stress Test Highlights
I should have said "easily" rather than "routinely" and the word "daily" is superfluous. - Fixed
I would love to see more of these statistics. Can you point us?
But those stress test statistics aren't made up. Here's a link to them again: https://steemit.com/bitshares/@ash/current-bitshares-testnet-stress-test-highlight-3300tx-14000ops
93.7% of all statistics are made up like this one.
Or, as Abraham Lincoln once said, "Don't believe everything you read on the internet."
From what I've got from google it looks like VISA does around 300 Million txs a day. BitShares did 1Million, which is great but the quoted statement I believe is inaccurate. Even if you're talking per second rates. 300M/day is around 3500 tx/s. BitShares can do that but it doesn't currently "routinely exceed" those rates.
https://www.google.com/url?sa=t&source=web&rct=j&url=https://usa.visa.com/dam/VCOM/global/about-visa/documents/visa-facts-figures-jan-2017.pdf&ved=0ahUKEwju5LzjncbWAhXlslQKHUYgA1sQFgglMAA&usg=AFQjCNFtmQ4auBGMaBXpEoZfLGR6AW6QZQ
Visa lists their own capacity at 65,000 tx per second as of August 2016 in this PDF from their website.
Yes, we must be careful to compare apples to apples:
Theoretical Capacity: Visa 65,000, BitShares 180,000 TPS
Demonstrated in Daily Action: Visa 2000-4000, BitShares 3300 TPS
Indeed... one day steemit need to do a lot more..
Dear @xeldal, I wrote a post to reveal a spammer that has the reputation of 69, whose id is firepower. Now firepower is flagging me like mad and threatened me publicly. He also led s4s to flag me. I noticed that you delegated a large amount of SP to s4s. So I would like to know whether you support the spammer, firepower, and whether you can leash s4s not to bite me. Thanks
I would really like to see you put a converter on the wallet page so we could quantify our assetts. It takes me
me a while to figure where all of the bts came from. Was it Bts falling or some of the assets going up. Is there
compitition between open ledger and Bitshares. I am a lifetime member and hate the home page.
Bitshares Target $1.10:
Hello @stan I have a question about bitshares (bts), is this a finite currency? The current circulating supply is 2,599,840,000. Is that going to stay this way forever or can more be created...?
It has a fixed supply of 3.5B. About 1B of it is locked up in a Reserve Fund... All fees go into this fund. All expenses come out of it. Just like a human company. When more is earned than spent the company is profitable and the currency supply decreases. Right now the supply is growing much slower than Bitcoin.
Ok, great, thanks :)
Thanks for this explanation.
Hey @stan will bitshares (bts) supply be burned and reduced to make less bts floating around?
It gets "locked up" in the reserve fund and in backing bitAssets like the Hero.
There is a fixed limit, believe 3.5? not sure... A part has been kept to pay for future development.
Singing to the choir dan. !!
I been waiting for this marketing push for ages!
I have been spreading the word to some brand new whales. !!
Haven’t bought my first bitshares yet. But I’m going to. Looking forward to getting on board and being a bitshares owner. I love what I see.
I started with Bitshares about three weeks ago. I'm very happy with that decision. I have been learning how to trade with Bitshares Distributed Exchange (using OpenLedger.io) and have been having success.
Awesome. Good to hear. I’m working on freeing up some fiat to pour into some bitshares. I can’t wait!
Hope so
@Stan, would greatly appreciate your thoughts here. You point out the following:
• Its (Bitshares) technology is widely superior to all competitors
What is the main barrier that Bitshares has to prevent competition from arising and eating away at its market share? It seems the movement towards decentralized exchanges is just beginning, and many new entrants to the space will likely pivot to account for this demand for decentralization, creating much more competition for Bitshares.
Best to you and the Bitshares team, I agree that higher prices are in store!
There is never an excuse to sit on our butts and be complacent. Competition is always there. Our best defense right now is that others are complacent about their place on the totem pole.
Thanks for the response, and for engaging with us here on Steemit.
i appreciate every bit of information you shared in this article ,, they are indeed helpful
This is perfect guide for Bitshares. I regularly read your posts and you're doing a fantastic job. Do you post tutorials at YouTube? Also, can we connect at Discord or steem chat?
I do several radio interviews every week...