There is an epic battle going on for Blockchain dominance and the real winner cannot and should not be forecast by looking at market cap but instead by two criteria, usability and scalability. Why?
To understand the answer to this question we need to examine the top coins according to their market cap and then compare those figures against which are the most used coins.
The Top Coins By Market Cap
Here we see that both BitShares and Steem are not in the top 10 or even the top 20 when it comes to market cap. They sit at number 24 and 35 respectively. However, don't let this fool you because things are going to change and I will explain why.
Don't let these market cap figures fool you as to which are the dominant tokens!
The Top Coins According to Use
Aha! Now things are becoming clearer. This chart from www.blocktivity.com shows which coins are actually being used. Take a look at the following cold hard facts:
1.)Bitcoin while clearly the market cap leader in our first chart is not at the top when it comes to transactions. Not only that but the stress meter shows that the block chain is hopelessly clogged and there are many transactions waiting in line to be processed. This is unsustainable and was the original reason for the fork that created Bitcoin Cash. While Bitcoin Cash has improved block times it too will soon again face scaling problems. To learn more about this subject and get another opinion I would suggest this great article/video by @exyle.
2.) Etherium while performing more transactions and sitting in second place according to market cap is also under severe stress and will face huge scalability issues going forward. In fact, in the image above their stress meter is in the yellow zone and at times it pushes into the red zone. We need only look at what the project CryptoKitties did to Etherium (see BBC article) to realize that a new champion will soon need to rise up!
3.) A project like Dash, while having an enormous market cap, is not performing transactions at a high level. How much value does a little used coin really have especially when it has never proven it's ability to compete against the big players when it comes to usability, Bitshares and Steem.
4.) If we examine Bitshares and Steem we see that while nowhere near the top according to market cap, they are both the big boys on the block when it comes to usability. Look at their number of transactions and check the stress meter. Both are capable of hitting 1,000,000 transactions a day while using much less than 1% of their capacity! That's huge! Keep in mind that the teams behind both of these projects are working right now on making even further scalability possible. According to many, Bitshares will be moved onto EOS once it launches which will turbocharge it into the stratosphere!
Combine this with the fact that Both the Steem and the Bitshares block chain are capable of launching other tokens (with Steem these will be called SMT's or Smart Media Tokens) and the true Blockchain leaders are becoming abundantly clear.
Once we include the fact that Steem is stealthily getting into the "hands" of hundreds of thousands of people in all corners of the globe we have the makings of a coin ready to take its true position in the market place. Remember, Steemit.com and Busy.com are just two of the foreseen dozens and dozens of front ends that will be built on top of our amazing Steemit block chain. Right now only users of Graphene products can even dream about this type of usability and growth.
To understand how Bitshares fits into this picture I would suggest that the article by Dan Larimer's father @stan entitled "When The Levee Breaks" be required reading for everyone interested in a block chain based economy. Soon more and more businesses will launch their projects on the Bitshares block chain after realizing that Etherium cannot provide what they need. That's right usability and scalability!
If you want to understand more about this subject I would suggest that you listen to as many interviews by @stan (Stan Larimer) as you can. He puts things in way that even Old Dog's like me can understand and he's out to teach the average Joe how to use these types of tokens.
A Point to Ponder: Steemit has zero transaction fees and BitShares transactions cost only pennies! AMAZING!
In Summary
Based on the two factors of usability and scalability it is continuously becoming clearer that the two Graphene projects will soon rise up and take their rightful place near the top of the market cap. The good news is that you're here, you're using a Graphene block chain and you're earning valuable Steem tokens! Smart choice, and hold on tight because we're just getting started!
What do You Think?
- Do you see the advantages of the Graphene projects?
- Do you also own BitShares?
- Do you enjoy @stan's articles and interviews
I hope that you enjoyed my attempt at explaining "Why I Believe That Steem And Bitshares Will Be Dominant Tokens!"
Until next time,
@kus-knee (The Old Dog)
I love Steem, but what about IOTA? It didn't even make your list. I thought IOTA was going to be the blockchain killer with its tangle and have all the other cryptocurrency developers shaking in their boots.
Based in China? I'm not too sure how crypto friendly that is. Also is it centralized?
well explained....hope this predictions come true
I was introduced to bitshares a few years ago by @onceuponatime. All thanks go to him. Since then I've received quite substantial returns from my measly investments,...at least for a young guy like me. Thanks @kus-knee for your article, very well explained, and those statistics from blocktivity are quite shocking...and exiting;) Let's see what 2018 has in store for the crypto world
I think that you have acted wisely but there are no guarantees!
Wow great post @kus-knee ! the most awesome informative post that I have seen in a long time on here , such a nice change from looking at graphs I have no clue about lol! Im so glad im useing a graphene block chain ! and I Can hardly wait to blast off to the moon !! Like I said in my Christmas post , this is going to be an awesome year for steem and steemit , Hold On tight ! haha , its going to be an awesome ride !!upped and resteemed 👍💰👍💰👍💰👍💰😀
I wasn't aware of bitshares but steem is by far my favorite in terms of use and a future king in the CrYpTo world! I'm gonn' look into bitshares alil' and expand my knowledge. Thanks for bringing it to light within my world. Steem is here to stay and will be and is a solid foundation for digital currencies.
I found out about #Bitshares here on Steemit... and I'm so glad I did. It took me a little while to learn how to trade on the Bitshares Decentralized Exchange (DEX), but after experimenting and doing a lot of research I got the hang of it. My crypto portfolio has multiplied in value at least 10 times!
Steem and Bitshares go well together. I highly recommend checking it out. Don't hesitate to ask me if you have any questions and I'll do my best to answer.
I just created my wallet ;-)
Thanks for the infos!
Ciao ciao
Oooooh @steemitri glad to read it. Please send me your user name.
First time using a decentralized exchange... Sono molto curioso della piattaforma ;-)
My user name: lucreal78
P.S. did a post about my "missing" hand ;-)
Bitshares is the future! Long term target $342!!!!!
That would be quite something!!!!!!
You didn't mention smartcoins. Bitusd and bitcny are being created at a massive rate. This will take bitshares out of circulation causing the price to increase to rapidly. This in turn will allow more bitusd and bitcny to be created.
Also exchanges in China are being created from the ground up for these smartcoins like aex.com.
Next year you will see massive adoption of these smartcoins starting in Asia. Everyone in crypto wants a stable, collateralized, cheap transactions, and fast delivery. Only smartcoins meet that criteria.
Thanks for this detail. Hopefully others will read it. I've followed BitShares since before it existed. Way back to Protoshares days!
My dad (@dobartim) invested a good amount of money in steem because you were his great inspiration,thank you a lot for helping all of us
Wow, I had no idea!
Old dog...I have a question.
Forgive me.
If I bother.
On a seriius note: would you write if you did not believe in STEEM/ BTS? Just curious :)
PS: I kind of agree with you especially for steem but there are so many moving pieces at this moment...
Yes it is the Wild, Wild West! No guarantees but a chance to do very well indeed!
I agree. I've also noticed during the recent volatility in the crypto market as Bitcoin hit record highs and later plunged, both Steem and Bitshares were fairly stable. As we all know, having a crypto that just offers some stability may be quite rare in this environment. Both Steem and Bitshares seem to be on upward trends. Once the street can see beyond the glitter of Bitcoin, I think we will see both of these coins skyrocket. I know I have directed some newcomers to Bitshares and Steem and they have been most thankful!
Great information. Thank you! But - I found out following: ~~~ embed:BitShares/comments/7llifu/arise_bank_scam/. What about this? reddit metadata:fEJpdFNoYXJlc3xodHRwczovL3d3dy5yZWRkaXQuY29tL3IvQml0U2hhcmVzL2NvbW1lbnRzLzdsbGlmdS9hcmlzZV9iYW5rX3NjYW0vLiBXaGF0IGFib3V0IHRoaXM/fA== ~~~
That post is deleted now; do you have a backup or a summary to share?
I
m sorry, I havent. The statement was, that Arise could be a scam and the name connected to Arise is also connected to BTS. The author concluded, if this is true, BTS could also be a scam.Ah, ok. Thanks for providing the short summary. I haven't really looked into this situation, but I don't get how BTS could even be a scam at all.
Yes I saw the original post and there is much discussion about it in the BitShares Telegram channel. Two things:
Thanks for your answer. Because you are much more familiar with BTS you might be right. One further indicator could be that the posting is deleted meanwhile, @valth wrote (see above).
YES i did it.. I bought my first BTS today...
https://steemit.com/bitshares/@rival/i-bought-my-first-bts-bitshares-via-blocktrades
for sure it will be a good investment.. I believe you in it..
Excellent! Welcome to #Bitshares!
I too bought some from @blocktrades the other day. :) This article gives me confidence that i did the right thing.
Steem will kill everything...it is top in terms of transaction and in few months it will comes in top 10 in terms of market cap..... your analysis is excellent @kush-nee ... there are many experts like you on steemit ...so they never let down steem ...
This will doubtlessly change after some time, yet we will even now trust that fortunes won't go anyplace
upvoted and resteemed
This will surely change over time, but we will still believe that luck will not go anywhere
Interesting stuff ... thanks for posting :-) ... I think Steem and Bitshares have are great coins ...
hlw my dear @kus-knee.I Think this is very good post.thanks for sharing.
Nice" sharing my dear @kus-knee & thanx you so much for sharing with us have a nice day enjoy.
This is very well explained. I believe the most in Steem, because it has the fastest blockchain technology, it also has strong marketing support from Steemit.
Good post thank you :)
Good stuff! I haven't invested in bitshares yet, but I hope you are right, when I come back home from my trip I might (@edolascrypto check this article, you have been saying the same thing many many times)
Hiii @kus-knee,
in detail you explain about this. now steem is brand and i hope next year is steem everywhere and in top ten. so i love always to steem.
Steem on..!
Steem is the best ever! And this is only the beginning! :)))
I think this is all insane!
Computers were a thing of science fiction not but a half a century ago.
Computers all being linked together and talking to eachother, that was the stuff of fantasy!
And, I will agree with your premise, that looking at actual use rates is better than market cap.
(should BTC have such a high market cap, since satoshi has never touched his coins? They are not part of the market, so...)
However, looking into the future, we must realize that all of this is code. And just like steem moved to the latest graphene, all of these other coins could completely change their block working algorithms almost overnight. And so what holds today, may not hold in the future.
It's the wild Wild West in crypto but on the other hand fiat is WAY more insane with it fractional reserve banking, quantitative easing, bail outs and bail ins! We shall see what happens but for certain there are NO guarantees.
And steemit.com is climbing the Alexa rank like crazy! About 100 positions in just 4 daysand another 30 since I made a post in the morning! Soon it will be a top-100 site and then the moon will be within our grasp!merry Christmas my friend !
I'm with you about Steem and BTS OldDog.
I just wonder how Steem and BTS can grow enough to really matter in the volatility of the market.
Markets always follow the big numbers, we know it.
Frankly saying I have no idea what is going to happen.
Let's just do what we can on our side and hope for better!)
I have no doubt that steem in one of the best cryptocurrencies dear friend @ kus-knee
I take the opportunity to wish you a Merry Christmas, surrounded by family and friends, that the child Jesus bring peace, happiness and prosperity for you and yours
Great @kus-knee
I currently hodl a Lotta bitshares, you don't know how sweet this article of yours sounds to me as I listen to you expound on its bright future, really cool, old dawg 🐶 .
I agree a lot with all you've said here and I think 2018 is pregnant as a result of a lot of crypto forking/fucking and I'm dying to see what it would put to birth for all of us in the cryptosphere to relish. It will surely be a revolutionary year.
I haven't checked out any of stans articles yet but you made me curious to do so :D
Regarding BTS & Steem, yes I own both of them and of course definitely not enough whenever you take a look at the huge potential of both of these coins :)
You have convinced me to move from Ethereum soon. I wasn't too happy to hear about useless games coming to the Ethereum blockchain and clogging the network. I will go for Bitshares for sure :)
Nice information! Merry Christmas to you
http://blocktivity.info/ is a great site. thanks for sharing
both the coins will sky rocket and we will later can't even grab them its just a matter of time from now on :)
bitshares has risen so much is it a good time to get in
I'm not so good at trading at all 😁😁😁😂 but i understood that i need to buy some Steem. I also believe in this amazing crypto so i will save all i have now for later cos i'm sure it will be one of the most powerful cryptos!
You made a very good presentation and brought good arguments about Steem advantages. Thanks a lot!!
Nice
Interesting to read. Thanks for this explanation. I never thought for example about bitshares.
That steem is on its way for me it becomes more and more clearer. It’s about the ecosystem and and the businessworld it’s often the same.
You don’t need one product this could be big but Vetternwirtschaft when you have a platzform a whole ecosystem and this is what happens with the steem blockchain :)
As a non-expert, I ask myself a question? Why has the "Eobot" platform decided to remove it from currency mining, stating that it is not a "profitable" currency?
I have been running a website since the mid to late 1990's...and just this week there are more and more hoops to jump through and guess what else... yes more money to pay for servers that are metso/metso. I imagine a day when our Steemit Blogs can morph int a full blown website withe Steem merchant accounts as well as transfer, video, messaging systems.
Hosting companies will be just another Blockchain roadkill... and not soon enough.
These are my top choice too but steem will always be my favorite
I think this is awesome! I glad I stumbled upon the Steemit platform and Steem.
It feels like being told to invest in Apple, Google or Amazon stock early.
Happy holidays!
I believe that you are correct in thinking that scalability is a major factor that will eventually lead to blockchains like Steem becoming much bigger, while the value of ETH will probably fall a lot when they network can't handle any more transactions. It was very difficult to use during the cryptokitties days.
I don't own any BitShares, but maybe I should invest in some?
Merry Christmas.............. Merry Christmas............Merry Christmas.......
Very interesting post))
Thanks for sharing)
Upvote and resteemed)
upvoted... merry xmas
Now that is a very cool explanation Old Dog thank you. I have been eyeing bitshares for a while now and this have pushed me a lot nearer to get some. Cheers.