1 Level
6 Review
9 Karma
Review on BitShares by Thoson Summir
When you hold BitUSD the value of your holdings will remain pegged to the…
When you hold BitUSD the value of your holdings will remain pegged to the dollar so long as BitShares itself has reasonable volatility. Reasonable volatility in this case means that it can handle greater volatility than Bitcoin has ever seen in its lifetime. The price of BitShares would have to fall to less than 1/3 its starting price in less than 24 hours and then stay there. No legitimate, widely adopted cryptocurrency has ever seen that kind of price movement. This means that BitUSD is secure against just about everything but an unfixable software bug in the BitShares protocol itself.
Pros
- At just a few cents per trade*, BitShares is one of the cheapest exchanges around. Other exchanges charge a percentage of your transaction volume. For a $1000 trade on BitStamp you will pay $5 vs less than $0.01 (Jan 2015) to make the same trade on the BitShares exchange. The more traditional exchanges like E-Trade or Scottrade charge over $5 per trade. Taking these price comparisons into consideration, clearly it doesn’t get any cheaper than BitShares.
Cons
- The activity of community is not much. The majority of participants are interested in pricing rather than the underlying
