Bitshares is a decentralized exchange built by Dan Larimer. Dan left the project a while ago and in the recent bull market bitshares has done nicely. This is not an indicator of success though because all cryptocurrencies, regardless of the underlying fundamentals, have done well. Bitshares has a fairly unique set of assests on the exchange such as bitgold, bitsilver and bitusd. These tokens are supposed to be pegged by actual assets in the real world. But behold:

Bitgold is trading at (as of post) $1692. Gold is trading at around $1300. And look at the volume! $9 in 24 hours. BitBtc is trading at $12016 Bitcoin is $9875 on GDAX. Bitbtc has a volume of $450 USD.

There are equal problems with bitusd, biteur and bitSilver. The price is completely over inflated and no one is using these pegged assets. Whilst bitshares has tether the last time I tried to exchange USDT the gateway (openledger) was offline.

Is this something to be worried about or is it a misunderstanding my end? Any views would be appreciated. Thanks for reading.

Is bitshares a bitshit?

Bitgold is trading at (as of post) $1692. Gold is trading at around $1300. And look at the volume! $9 in 24 hours. BitBtc is trading at $12016 Bitcoin is $9875 on GDAX. Bitbtc has a volume of $450 USD.