https://cointelegraph.com/news/crypto-com-delist-usdt-europe-mica-compliance

Crypto.com will delist USDT and nine other tokens in Europe on Jan. 31 to comply with MiCA regulations, giving users until March 31 to convert assets.

How many more reasons are needed to start supporting and utilizing DeFi projects? Bitshares has native collateral backed stable coins with transparency everyone can see.

#Dino DeFi BTS

https://cointelegraph.com/explained/delegated-proof-of-stake-dpos-explained

A reminder of how far blockchain's have come thanks for some creative developers such as Daniel Larimer.

https://preview.redd.it/f1e5tqj67tde1.jpg?width=1045&format=pjpg&auto=webp&s=cf0360257ee72eb43fa753c8855df58ee4a71fdf

The honest.asset eco system attempts to answer the age of question of how to create, distribute, and utilize sound money.

Let's face it, most blockchains such as bitcoin will never be used for day to day small transactions. This issue does not make bitcoin worthless, so why not utilize the value of bitcoin to provide the backing and collateral for an asset that can be sent worldwide, in under 3 seconds for a miniscule fee?

Why not have a native blockchain based stable coin backed by collateral everyone can see/audit?

Currently assets plugged into the honest.asset ecosystem are created by a user locking up AT LEAST 1.4x collateral, denominated in bitshares, to "borrow" the honest.asset. Here is one example how that looks: A user wants to borrow 10 honest.USD by putting up 3x the collateral of 21,000 bitshares.

https://preview.redd.it/0y7ryytkatde1.png?width=520&format=png&auto=webp&s=1b2f0c5a9e293e0e51a1add81a80d2c90d50a4e1

With the honest.USD now borrowed by the user, they could send it anywhere in the world in under 3 seconds at a miniscule fee! An investor on the other hand, might place that honest.USD & bitshares into a liquidity pool to earn fee's from other users exchanges those assets.

Take this to the next step and by studying the map of honest.assets, you can see how all these assets & liquidity pools are tied together into honest.MONEY. Users and automated trading software continually balance out the prices of the assets by being able to move through honest.MONEY into any and all of the assets in the ecosystem.

Therefore, honest.MONEY becomes blockchain based sound money that is backed by the collateral users/investors placed to create the entire ecosystem in the first place.

What does the future hold?

• Additional liquidity for each asset in the ecosystem.
• Additional assets added to the ecosystem
• Additional IN/OUT gateway's to exchange the native asset directly for an honest.asset. IE BTC > honest.BTC instead of BTC > gateway.BTC > honest.BTC. This reduces the users risk of being stuck with a non blockchain backed token. Gateways will eventually accept honest.BTC > BTC exchanges because honest.BTC holds value where as gateway.BTC is tied to a specific gateway, think Mt. Gox.BTC.

You can explore this ecosystem now by utilizing any of the bitshares wallets:

Decentralized Web Hosted DEX wallets (Make BACKUPS!)

• https://ex.xbts.io/market/BTS_XBTSX.USDT

Android Mobile wallet

• https://github.com/bitshares/bitshares-mobile-app/releases/tag/v7.18-android-bin

Power Users and Traders use Astro UI (need both parts to work)

• https://github.com/BTS-CM/astro-ui
• https://github.com/bitshares/beet

Hold the line let the pumpers and dumpers do their thing let the equity build up bitshares is twice the speed of Bitcoin. The technology is proven. do your research this is a sleeping giant only put in the amount that you would if you were going to go out to dinner and just hold. Full disclaimer this is not financial advice but you’ve gotta be in it to win it and just hold and watch the price go up over the full Trump Presidency.

Quick search shows ~11% of btc is held on exchanges where as ~25% of bts is held on exchanges (Gate, Mexc, Indodax).

What would drive you to hold Bitshares on chain?

View Poll

What is holding you back from staking your Bitshares in a liquidity pool to earn fee's instead of having them sit idle? By doing so you are providing to the backbone (liquidity) of what bts stands for, a decentralized financial exchange DeFi.

The steps below will vary slightly depending which wallet used, however all are quite similar.

Step 1: Learn about Liquidity Pools https://youtu.be/cizLhxSKrAc?feature=shared

Step 2: Start with which ever wallet you like best, TRY them all... ALWAYS BACKUP YOUR WALLET.

Reference wallet: https://github.com/bitshares/bitshares-ui/releases

The reference wallet does work however it is out classed by the following 3 options.

Web based wallet: https://app.xbts.io/#/pools

Mobile Android App (fantastic): https://github.com/bitshares/bitshares-mobile-app/releases/tag/v7.18-android-bin

Astro-UI is SIMPLE to use and beyond FULLY functional however you need both of these pieces of software working together. Once you see how these two pieces of software work together, you might never use any of the other wallets again:

• https://github.com/BTS-CM/astro-ui
• https://github.com/bitshares/beet

Step 3: Choose a pool

Now you must choose the other asset you will add to the pool along with your Bitshares.

One of the most common trades for all blockchains is going TO AND FROM stable coins. For example Bitcoin > USDT when you feel the price of btc will fall and back from USDT > Bitcoin when you feel the price of btc will rise.

One such smart asset stable coin on the Bitshares blockchain is honest.USD.

Knowing this, the honest.USD smart asset stable coin and BTS pool should have high trade volumes compared with a pool of lesser known assets.

https://preview.redd.it/zu3hyod5t0ce1.png?width=1136&format=png&auto=webp&s=c30b98a54fb62801b21ee54989d8833f91c20763

Step 4: Acquire the other asset

In this example, the easy way to acquire honest.USD is to simply use the pool itself!

https://app.xbts.io/#/pool/HONEST.USDBTSMM

Exchange however many bitshares for the desired quantity of honest.USD. Try a small amount, under 5000 bts. Now you hold both assets and are ready to add them to the pool.

The better way to do this is by utilizing the foundation of smart assets themselves. Why does honest.USD have value? This method requires additional BTS that will be locked away until you return the honest.USD you created...

• Browse to the bts / honestUSD MARKET.
• Click BORROW.
• You must place AT LEAST 1.4x collateral to borrow. Use 3x for this example and put 21,000 bts as collateral. This allows you to acquire ~10 honest.USD.
• Borrow (create) the asset.
• You now have 10 honest.USD

https://preview.redd.it/25tjpc3dt0ce1.png?width=520&format=png&auto=webp&s=25a66fa9d1da0b0d84077ed345fed7f74608f9c1

Step 5: Add assets to the pool

Browse to the pool in whichever wallet you are utilizing: https://app.xbts.io/#/pool/HONEST.USDBTSMM

Add both assets to the pool and you will receive x amount of the pool asset: HONEST.USDBTSMM.

Step 6: Monitor the pool over time

You can now keep an eye on the pool over time to see how many fee's are being generated and if it makes sense to keep your assets in the pool.

As seen on the xBTS web wallet: "By adding liquidity you'll earn % of all trades on this pair proportional to your share of the pool. Fees are added to the pool, accrue in real time and can be claimed by withdrawing your liquidity."

Step 7: Remove assets from pool

Perhaps after a month another pool has massive volume and you would like to add liquidity there.

• Simply withdraw your funds leaving you with both bts & honest.USD.
• Trade the honest.USD for another asset or bts itself.
• IF YOU BORROWED honest.USD into existence and want to close that out, go back to the bts / honest.USD MARKET, click borrow, enter the amount of honest.USD you borrowed, and click update position. The reference wallet has a button labeled "pay max debt" to make it easy. This now unlocks and returns to you the BTS you put in as collateral when borrowing. That honest.USD is not burned and no longer circulates, thus completing the circle on how/why honest.USD has underlying value.

Step 8: Never stop learning

Some more basic information on how honest.ASSETS work on the bitshares DeFi blockchain: https://honest.gold/

The possibilities around DeFi are far reaching.

Binance just sent almost all their remaining bitshares to Gate and Mexc. They now hold 1,175,867 in their wallet + whatever total's on Gate and Mexc.

The Binance sell-off and all this constant sell pressure could be ending soon.

https://preview.redd.it/ushpjd6jxlbe1.png?width=1182&format=png&auto=webp&s=3863957743babccd92cd93249e6aa66c1f9d68ea

Thought's on Dan's older post on PEX vs current smart assets on bitshares? Would this be worth a try to implement and improve incentive to borrow assets into existence?

https://github.com/bytemaster/pex

"Compared to systems like BitUSD, our pegging approach incentivizes asset creation and liquidity by providing trading fees to the shorts who post collateral while effectively eliminating the majority of liquidity risks of the shorts. Furthermore, this algorithm provides equal liquidity to both sides of the market where BitUSD only provided forced-settlement to one side of the market. Trading fees continuously re-collateralize the market and enable it to recover from losses due to changing prices. So long as income from trading fees is greater than the average fall in the value of the collateral asset the system can remain solvent and liquid. We believe this approach maximizes the utility to all participants while minimizing risks."

保罗的口号： $bts 很有趣，因为机器人占领了它并在不停交易。
Paul's slogan: bts is very interesting because robots occupy it and keep trading.

I am interested in buying BTS. Can anyone help me? Thanks

Current selling pressure of Bitshares is two fold:

• Binance delisting: https://www.binance.com/en/support/announcement/notice-on-the-withdrawals-of-delisted-tokens-conversion-of-selected-tokens-to-usdc-2024-08-12-9ec5cabbc8974a1c8890e1c9d87a98a7

• Indodax delisting: https://blog.indodax.com/delisting-des2/

Binance is the elephant in the room here. With their delisting, they have transferred 100m bts to Gate.io and 100m bts to Mexc exchanges to sell. Binance still holds an additional 156m bts.

Once both exchanges liquidate their bts holdings the selling pressure should subside.

With the crypto market at all time highs and bitshares at an all time low, this could be a good time to pickup cheap bts. It is easy to utilize the DEX markets via a gateway such as xBTS https://ex.xbts.io/market/BTS_XBTSX.USDT or any of the bitshares liquidity pools for quick conversion.

Recap how to grab cheap bts:

Centralized Exchanges CEX requiring signup

• https://www.gate.io/trade/BTS_USDT
• https://www.mexc.com/exchange/BTS_USDT
• *low volume* https://poloniex.com/trade/BTS_USDT

Decentralized Web Hosted DEX wallets (Make BACKUPS!)

• https://ex.xbts.io/market/BTS_XBTSX.USDT
• https://bts.exchange/#/

Power Users and Traders use Astro UI (need both parts to work)

• https://github.com/BTS-CM/astro-ui
• https://github.com/bitshares/beet

Bitshares blockchain has built in liquidity pools. By locking up tokens in these pools you can earn fee's from others utilizing the liquidity pools for trading of assets.

See some of the pools here:

https://app.xbts.io/#/pools

You can search for all the pools here:

https://blocksights.info/#/pools

Liquidity pools explained: https://youtu.be/cizLhxSKrAc?feature=shared

Centralized Exchanges CEX requiring signup

• https://www.gate.io/trade/BTS_USDT

• https://www.mexc.com/exchange/BTS_USDT

• *low volume* https://poloniex.com/trade/BTS_USDT

Decentralized Web Hosted DEX wallets (Make BACKUPS!)

• https://ex.xbts.io/market/BTS_XBTSX.USDT
• https://bts.exchange/#/

Power Users and Traders use Astro UI (need both parts to work)

• https://github.com/BTS-CM/astro-ui
• https://github.com/bitshares/beet

BTS is near its all time low price while other chains have seen drastic increases in "value."

By borrowing and selling a smart coin into existence you are helping provide much needed liquidity for other traders. Make the correct bet and significantly increase your holdings, all done on chain, no 3rd parties required.

IF you hold BTS AND believe it will rise in price utilize the chains built in smart coin borrowing.

• Browse to the Explanation Wizard for a step by step guide within the reference wallet.

OR

• Browse to bitEUR or honest.USD as two of the MANY possibilities

• Click Borrow

• Enter the amount you want to borrow as debt

• Use the ratio slider to see how much collateral you must lock up as bts. Keep on eye on the Call Price, this shows you how much room you have IF the price of BTS dropped before you get margin called.

• Click update position

You now have locked up bitshares in a smart contract and received a smart asset. You can then sell this smart asset for additional bitshares and once bts rises in price, trade bts back for that smart asset to pay back the debt, profiting the difference. Endless possibilities.

Was Quint ahead of its time?!

https://youtu.be/xfHCly1ZCQ0

Schiff does bring up some solid points about how a precious metals backed blockchain (or smart coin) with quick confirmation times would challenge fiat currencies. One does currently exist, quintric.com, however volume is quite low. These smart coins are backed by precious metals stored inside a vault with Alpine Gold Exchange, Utah USA. Quite interesting to see if it builds and takes off as the precious metal is in an audited vault and traded or staked in a liquidity pool on chain.

Historically BitShares was always top 5 for operations in a 24 hour period, see: Blocktivity

What happened?

The blockchain space has been moving towards DeFi for quite awhile and with recent regulations around the world, DeFi is no longer a choice, but a requirement. BitShares has the ability to become the clearing house for transacting in other crypto.

• How should development time be spent?
• How to onboard new users?
• How to attract new developers to build apps on top of the BTS blockchain?
• How to grow the community once again?

UI - Ease of use and understanding has always been an issue with BitShares. DeFi is complicated and overwhelming for new users. A simple and advanced user interface would greatly improve new user experiences. This can be seen with any modern day stock exchange broker, bank website, even coinbase.

Bitassets - These were a giant draw to utilize the Bitshares blockchain. They have been globally settled multiple times now and have frustrated many traders. The underlying algorithms have been tweaked to prevent gaming the system however they still remain in a globally settled state. Is it as simple as bringing back these stable"ish" coins to regain liquidity?

Documentation - Update all documentation to ELI5 standard. BTS is way beyond a standard send/receive blockchain. Simplified documentation for developers is a must, otherwise they will get overwhelmed, frustrated, and look elsewhere.

Simplified Gateway Setup - Many redundant gateways / liquidity pools will be required for users to exchange crypto. Simplify the process to setup a hosted wallet/gateway/liquidity pool.

What do you think will jump start the community once again?