BitShares 2.0 SmartCoin Tech Overview
The simple fact is that BitShares is more than a cryptocurrency. It utilizes financial tools and contract types of which I'm no expert.
Gold Prices Will Hit Record On Surging Asian Demand, ANZ Says
Source: bloomberg.com
When you own the bank ...
and the exchange, why would you buy from anywhere else?
The idea of creating new assets on top of bitcoin via smart contracts has been around for a few years now, but it seems that no one has been able to find the perfect solution up to this point. Bitshares and NuBits are probably the most widely used platforms for creating these sorts of assets right now, but they are often met with skepticism due to the fact that they aren’t based on the bitcoin blockchain. Adoption of these platforms for payments is also basically zero right now. Some individuals in the cryptocurrency community believe that these sorts of bitassets are required to access the next level of mainstream adoption, while others question whether they’re actually useful for the general public.
TuckFheman now owns bitGold!
Update : And now bitSilver.
Time to buy some gold...
or bitGold.
Austrian economics is one of these impenetrable black boxes that you hear referenced occasionally but that has little meaning for many people. Recently I was perusing Cameron Harwick's blog, Thrica where I periodically go to soak up some free market goodness, and I found myself re-reading a post entitled Hayek vs. Rothbard on Free-Market Money. The article and the comments illucidate many interesting and relevant ideas that can not only help us understand cryptocurrency but also show that the problem of discovering what is a good kind of money has been mulled over by brilliant people long before the cypherpunks sank their teeth into it. A clearly novel approach has been taken by the team working on Bitshares. I asked Dan Larimer to explane the roots of his idea and update us on the progress of the platform.
Content: Arthur Falls, Dan Larimer