Total market cap soon to pass 70 billion!
Bitshares, Steem and Steem (Backed) Dollar full steam ahead!
On the move, big time
The crypto avalanche is picking up more and more speed and volume as we go. Since februari 21st of 2017 especially the market capacity part of the so called 'Altcoins' went up. After 23rd of april that line almost went straight up. And currently Bitcoin has lost its market dominance that it had for such a long time. That is quite alright though, in my opinion, because Bitcoin has a transaction limit challenge. It is good to have a lot of different types of BitMoney {AKA: coins, cryptos and so on}. There are about 720 different types of cryptocurrencies that make up the main market. That passed a total capacity of 66 billion US Dollar already! And we have only just begun... Or to put it in a song title: "You ain't seen nothing, yet!"
Green candles for the hometeam
Bitshares has passed 6 dollar cents, Steem already did $ 1.02 again and SBD {Steem (Backed) Dollar} is still solid rock at an impressive 1 dollar 85 cents, going towards 2 USD fast! (There was even a weird $ 22 all time high recently.) In a market, with 720 different kinds of BitMoney, being within the top 15, is superb. Remember, Steem is only one year young and Bitshares just three years. Both on a climb in a market that is going like an avalanche. There could be quite a grow in demand for Bitshares, Steem and Steem Backed Dollar. And there is enough around for Golos and Peerplays to get their share too. It looks like it is just a matter of days before the total market capacity will burst throuhg the magical 100 Billion frontier...
Scaling, speed and decentralization
The recent traffic challenges for a centralized trading platform might have put the Bitshares Decentralized Exchange {DEX} in the spotlight again. And this could boost the price for Bitshares towards 10 cents fast and quite a usage growth of the DEX. And if one platform can handle lots of transactions, with even more operations in them, then it is Bitshares. While Bitcoin has a hard time getting rid of the stockpile of 200K transactions, blockchains like Bithares and Steem would fix it in just over a minute...! Yes, that is right, blockchains like Golos, Peerplays, Bitshares and Steem would have chewed away that pile-up in a jiffy! While it would take Bitcoin forever, and they really need to go for 4 MegaByte blocks to solve this long term, as I see it.
Yes, Bitcoin can only do about 3 transactions per second. It is not ment for day-to-day use, it was ment to hold large value, to hold morgages and so on. This transaction stockpile challenge was caused due to hyping Bitcoin as a day-to-day payment system as some developement team still seems to do. Litecoin that went Segwit, like Vertcoin and DigiByte would do a far better job than Bitcoin could ever do. For me that is like it was supposed to be, Bitcoin the digital equivalent of gold, Litecoin the silver, Vertcoin the copper and Digibyte the iron. Just to give a reference that most of these will be used for the long term, where single transactions on those blockchains will carry a lot of value.
Bitcoin should get a consensus hardfork soon, get those 4 MB blocks in, or it will lose a lot of its potential market to Litecoin, Vertcoin, Digibyte and others, like Steem. It is crazy to have this congestion of 200000 transactions. And it maybe a good idea to enforce a minimum transaction fee for BTC. For goodness sakes, Bitcoin was never ment to be for small value transactions, those who still promote that should be kept out off developement. It simply can not handle it! For me it is still to be one of the most expensive cryptos in the Bitmoney realm. And I am okay with paying tens of dollars worth of BTC to get a huge values transaction secured, even if a full confirmation takes an hour. That it should aim at: holding and transporting large values.
Bitshares and Steem do it like 3-2-1-Done!
Even if those at Bitcoin have a hard time getting real, Litecoin and others will take a lot of capital from it, anyway. The market avalanche has only started to really take off recently. And with a potential growth of 33 billion, there is a lot to get for our hometeam members too. Bitshares offering real value with its Decentralized Exchange and Steem with its Social Media Platform. While others spread news that they are working on these kind of things, those who know and use Bitshares and Steem will have a hard time not to smile. Platforms that take ages to create blocks want to add services that should compete with our blockchain mantra: 3-2-1-DONE...!? They are kidding right?
Yes, that might be consired a bit arrogant, but no matter what these other blockchain technologies claim, it is still and idea, a developement or tested. Yet in reality it states that it is soon to be released. And none has really delivered, yet it gets hyped all the time. While Golos and Steem already proof day after day how easy their Social Media platform can scale and still does the 1-2-3-BLOCK! And they can handle thousands of transactions per second, there is proof of that, it is reality already. Next up is Peerplays to go life, based on the Graphene technology it will handle things also like 1-2-3! And EOS is not even released yet, because that will be another game changer. Millions and more transations per second, parallel processed smart contracts! That will also attract a lot more attention towards Bitshares and Steem, giving their price another boost in the proces.
Can Steem handle a price of 135 USD?
Imagine that, Steem costing a 135 US Dollar, while chewing away 200000 transactions in no time. Market cap of 33 plus billion. And still transactions fee free, the same for 0.001 STM or 1000.000 STM {Steem}, at no cost. An account holding a few thousand in Steem Power {SP}, getting a nice 3% dividend per year. That is almost too weird to imagine right? Well, the platform can handle it. If Steem and Bitshares could lend a helping hand to the 200K Bitcoin transactions on hold, they would have fixed it in about a minute...! The fastest kids on the blockchain could absolutely do it.
Best thing would be for others just to get over to the Bitshares DEX, the Steem Social Media platform and the others of the hometeam like Golos. Soon Peerplays will be another unique addition to the 3-2-1-Done blockchain family. And there is even more excitement to come with EOS, it is just around the corner...
Steem on and have a great one!
Bitshares gaining in 24 hour trading volume
Looks like the next Steem price jump is ahead
Steem (Backed) Dollar hard like diamond
NOTE: Only put in what your are willing and able to lose. And your speculation might be as bad or as good as mine.