what’s up everyone Brian Phobos here today we’re going to talk about this shares and why the price is going up so much now what is bitshares is basically a decentralized exchange and why would that be important a lot of these countries who are locking down access or getting more restrictive on identification related stuff it makes sense that something like bitshares that is decentralized where you control the keys and if you don’t control the keys you don’t own the coins something like this makes a lot more sense than things like Beatrix Polonia acts by Nantz crypto Pia you know obviously with the stuff where you get money from Fiat into the crypto world then you know things like coinbase Jim and I crack and those kind of things you have to somehow get some money in usually but once you’re in you know kind of thing you want to hopefully control your keys to some respects if you are on the centralized exchanges like bit tricks Palani acts those kind of things it’s kind of one one of those things I get on get off kind of thing as much as possible so let’s take a look at bitshares right now ranked 24th and a lot of these coins that live through the crypto nuclear winter of 2015 and then even into 2016 had this long drawn-out period and then it shot up and then people took profits they were like oh finally I can sell out and get some profits we had this cool off quick cool off boom we’re up again you see that on digit byte you see it on Burt coin Gronstal coin see it on all the older coins that had a long period of waiting waiting waiting waiting so anyway it continues to go this is Google Trends where is the search searches coming from for bitshares China makes a lot of sense guys think about it China blocked I SEOs China has all these restrictions on these exchanges to where they can’t connect to bank accounts you know they’re shut down partially and all this kind of stuff and so people in China wanna buy crypto so they’re looking for alternatives to these centralized exchanges so they’re gravitating towards things like bitshares also for things like bitusd some of the exchanges that are still operating over in places like china needed something to peg to things like the US dollar or to the Chinese currency so let’s take a look at this so there’s bit gold bit USD and then bit Cyn CNY I mean for the Chinese currency where’s the so what I’m looking for it shares the bit Cyn so they were able to peg to fiat currencies being able to peg to gold and so these exchanges instead of using tether because there was a 30 million dollar tether hack they’re able to peg to the fiat currencies using this creating the ability to sort of form what they were able to do with the exchanges that were connected to bank accounts but do it in the crypto world where they control keys now bitusd is actually a debt on bitshares you have to put bitshares up as collateral so if you want to sort of convert things to bitusd you have to buy bit shares and use it as collateral to buy this look at the market cap blow up would you look at that so the market caps blowing up because these Chinese exchanges are you know basically utilizing this now and then also Chinese people you know buying into this stuff and then maybe peg into certain things to trade you can seek shelter and some things peg to something and for the most part it keeps this peg pretty well how to dip here recovered when it gets super volatile you’ll see bigger dips but ninety-six cents it is rising it was actually down to 93 a little earlier we usually just have to wait on it and it will get back up to the peg when the volatility calms down stuff like steamed back dollar was doing a pretty good job with the peg and then it freaking took off and everybody has their theories of why but it’s completely ridiculous and hilarious but it’s benefiting the bloggers on steam because these prices that you’re seeing that we’re getting paid actually part of this half of this is getting paid out in steam back dollars and then we are selling that steam back those steam back dollars for 12 times what it looks like we are so we’re benefiting greatly from that now let’s talk a little bit about the history of bitshares so Dan Larimer his first project graphing blockchain uses delegated proof of stake just like Steam that was the second project and then yose is his third project that’ll be utilizing similar type technology now who Minds bitshares who mine steam the miners are called witnesses and basically we we vote them into power so you see the witnesses that I voted for bitshares is the same thing a lot of these same witnesses like Roland P he’s actually a witness over on bitshares the more bit shares you own the stronger your vote is the more steam you own in steam power the higher your vote is for these people and why we vote on certain people it could be for development reasons community reasons like good karma he’s a great developer really done a lot just a great developers done a lot Roland P he’s really done a great job with steam fest all these things block trades he has block trades us it’s an exchange and it’s just like there’s different reasons why you would vote for each one of these now you might say Brian why don’t you become a witness you’re pretty technical well you know it that’s what that is a goal in the future and everything but if you don’t have enough kind of clout in the community and enough kind of power in the community to get enough people voting for you then running a witness node will actually be unprofitable so you really have to be set up for it but I am setting up in the future and so hopefully soon within the next month or two I will go ahead and put up a witness node and hopefully if you get in this top 20 it’s actually very lucrative I mean literally they’re making like $500 a day running the witness nodes you know so that’s that now let’s think about China and why people would gravitate towards that this is weeaboo this is it basically like Twitter for China and they wanted everybody to register their real names they you can’t access Facebook in there without going through VPNs and all these things the crypto exchanges you know they’re always trying to put the lockdown on I’m that kind of stuff so we do see these huge volumes in this huge surge from China so I think that that’s gonna continue that’s another reason why I am you know bullish on Komodo as well because that’s a there’s a decentralized exchange called barter decks which uses atomic swaps on that so I think this will continue to rise as well I think that shares will rise but as time goes on whether you trust the centralized exchanges or you’ve had some level of problems I mean I’ve had problems with Polonia –xx I’ve had problems with hit BTC I’ve had problems with by Nance you know various levels of problems I don’t try to make my problem too big I try to do smaller amounts like Finance I’ve got ten iota trapped on there this is not the end of the world you know because it’s right around 50 bucks at this point but I probably would have bought more if I could if I could take it out but you can’t trust these exchanges you know you you can only gonna trust them for a little bit and keep giving them a chance giving them a chance and then if you get screwed by one then you know obviously you’re gonna be pissed off but trust me on this if you don’t own your keys you don’t own your coins I have a friend that got mount GOx I have a friend that got Mint Powell and have a friend that got crypts deep if you’re newer to the space maybe you don’t know about any of those because they’re gone and they left with the money so I don’t really know what happened somehow like mint Powell cripsy we don’t even know what happened but another thing I just want to clarify even though you’re accessing this to a webpage it is decentralized you still do own your keys and that goes for the same thing with something like steam the steam blockchain even though you’re accessing this to a website you still do own your keys they don’t see your keys like you you have generated them on your local web browser and you own this you own this and then also on blockchain dot info you own your keys they don’t they don’t ever see your keys they don’t have access to your keys it’s generated locally on your computer and you control the keys same thing with my ether wallet so does it clarify that I know that can be confusing sometimes people think that well I’m accessing it on a webpage so is this some kind of custodial thing that it blockchain Don info or that like you know some entity who’s running steam int which is daemon incorporated did they kind of like hold my funds and they don’t so and it’s not like the thing is with something like steam it’s decentralized like there’s other ways to connect to the steam blockchain same thing with bitshares there’s actually other exchanges that connect to the bitshares blockchain but busy org this is a different way to connect to it oh man bernie sanders out it again guys look he’s after he’s raping the reward pool this guy we don’t know who he is crazy it’s kind of funny though but anyway you guys see why bitshares is going up we got the Chinese volume and from everything I’ve heard the Chinese are the hotle champions of the world let’s take a look at this let’s see well we’ll look at another time guys I was just gonna see like if we’re getting any kind of volume for neo and that kind of stuff on bitshares but let me know what you guys think are you guys using bitshares do you think this is going to continue to go up my assessment is it is going to has more run in it but that is obviously a pretty strong parabolic move whether we have any kind of pullback or not but it makes sense these exchanges are wanting to peg with bitusd they’re wanting something that’s decentralized the Chinese people want something is decentralized in these different countries around the world where their governments are saying no you’re on lockdown you can’t go to this side or that side that’s this exchange or whatever you can’t do that people are like watch me yeah they’re gonna stuff like bitshares so anyway guys subscribe to me like the video if you will I’m trying to pump up the subs and then follow me on all social media app Brian Phobos steam it Twitter Instagram see you guys later

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.