Bitshares X: I attempt to Profit from the Grand Experiment (Part 2 of 2)
Last week I took a look at the new BitsharesX platform and tried to make sense of their BitAsset system. Since then I’ve gone through 5 versions of the application, hurdled a number of bugs, and generally spent a lot of time staring at my screen trying to get a grasp on exactly what was happening. Despite all this I still managed to make money. While the application and the whole BitsharesX paradigm are still very much in their early, experimental stages I can still see how the system was at least meant to work. Thus far it seems to be performing admirably with BitUSD more or less tracking....
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A look at my hands on experience learning to use the BitsharesX platform. Now that BitsharesX seems to have settled into it’s new equilibrium at around 7,600 Satoshi per unit it seemed like a good chance for me to dive in and see what the BitsharesX platform is like and exactly how this whole “BitAssets” concept works in practice (while also researching how it’s supposed to work on paper). Which brings me to my first point about BitSharesX, in that no one has ever done this sort of thing before. In truth it’s a wonderfully grand experiment. An enticing, amazingly audacious experiment but....
As of 10/24/2014, 41 days remain to participate in the Note pre-sale. The BitShares Music Foundation is auctioning 5 million Notes — Notes are a unit that is required to use BitShares Music, a technology ushering in the future of music. The funds will go towards launching the BitShares Music blockchain, ‘the first blockchain to be used by the masses.’ The genesis block will be distributed to BitShares Protoshares (PTS), Angleshares (AGS), pre-sale participants, and the BitShares Foundation. “35% of the Notes are going to the holders of BitShares PTS. 35% of the Notes to those who donated....
The BitShares team this week announced their newest development, the upgrade to BitShares 2.0. This upgrade is said to be the next step in the evolution of BitShares. It incorporates all of the feedback and lessons learned from the BitShares stakeholders, partners, developers, marketers, and other community leaders throughout this past year of research and development. With BitShares reaching maturity at version 2.0, the team is ready to remove the training wheels, and let the direction of all future development be decided completely by stakeholder vote. To help ensure the long-term....
A shadowy figure - either an individual, but most likely numerous individuals - has apparently taken over enough shares in BitShares, the Bitcoin 2.0 technology, to considerably steer the project. So much so, in fact, that, in response, a BitShares 2.0 project has been launched this month. Inner turmoil has seemingly undermined the expansion of the BitShares project, which has suffered the negative effects of not only a dilution of BitSharesX (BTSX), but also the negative impacts of publicized inner-strife, beginning with the evidence that the original BitShares white paper is no longer....
On July 19th, Bitshares announced that its Hong Kong-based partner DACS Unlimited is launching the first official, live Bitshares X chain. Bitshares X is the stock- and commodities-focused product of Bitshares, which aims to be a multipurpose platform for distributed versions of everything from insurance to music retailing. This makes Bitshares, arguably, the first functional iteration of what's known as a Distributed Autonomous Corporation - essentially, a distributed, centreless system much like the Bitcoin network, but able to execute commands more complicated than 'buy' and 'sell,' and....