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RE: Do Cryptocurrency Speculators Fear Utility?
Where can I go to get stats on trade volume on BitShares? The only data I could find would suggest that BTS is lightly used, even less than EtherDelta. The problem I've encountered when actually trying to use these platforms is that they are hard to use: both from a UI/UX perspective and also because there just aren't many trades going on. I see big bid/ask spreads on most currency pairs, low trade volume, and very thin depth charts. The speed of graphene doesn't matter much if they can't get usage.
Perhaps that's why Dan decided to start EOS -- he can focus on developing the best platform, and others can struggle with the UI/UX and marketing challenges of building businesses on top of it.
You can combine these two for a feel of what's going on there (they both use the BitShares blockchain):
https://coinmarketcap.com/exchanges/bitshares-asset-exchange/
https://coinmarketcap.com/exchanges/openledger/
$10M isn't much, but it's kind of a chicken or the egg problem. There isn't enough volume, so people don't use it. But because people don't use it, there isn't enough volume. I agree the UI/UX needs work, but there are some recent worker proposals that are being worked on to improve things there, so that's cool.
For the most part, if you know the price you want, you can get it at that price. The downside is, the market may have moved on from that price in the meantime.
I have tried very hard to start using BitShares. It just seems way too difficult to figure out how to get there. Firstly I think you have to pass via some third party financial institution if you want to get fiat in. Secondly I can't understand the trading pairs available. I can't find bitcoin/dollars or bitcoin/tdollars. Thirdly, spreads seem high. Fourthly, the fee structure is incomprehensible.
I can't see how I would get dollars in and how I would get bitcoin - or whatever, out.
I am totally confused about the relationship between whatever token has to be used to buy bitcoin, and the USD. It does not seem to be a 1 to 1 relationship like t-dollars.
Dan is a genius, and I would like to follow and support him, but he needs a translator - from "genius tech" language to "end-user - I can't read instructions" language.