Year: 2024

After creating an account on BitShares, click on ‘Membership’ in the menu at the top right, then click the ‘Purchase Lifetime Membership’ button. By paying a one-time fee in BTS, you can become a lifetime member.

By introducing users to BitShares through you, you become the referrer for those users, and a portion of the transaction fees they pay in the future will be returned to you.

You need to become a lifetime member of BitShares.

After that, simply post your unique affiliate link on your blog or social media accounts. When someone registers with BitShares through your affiliate link, you will receive a portion of the transaction fees they pay in the future. Affiliate rewards are paid in BTS.Basically, you can claim the full amount after a 90-day “vesting period” has passed. To claim, go to “Vesting Balances” from the menu in the top right corner of BitShares, and click the “Claim Now” button to immediately withdraw the amount listed as “claimable.

Smartcoins are cryptocurrencies whose prices are pegged to currencies like the dollar, yen, or bitcoin. For example, bitUSD is pegged to USD, bitJPY is pegged to JPY, and bitBTC is pegged to BTC.

BTS is a cryptocurrency that provides value within the BitShares blockchain. By depositing BTS into the blockchain, users can generate smartcoins. Smartcoins are a type of cryptocurrency that are pegged to real-world assets or currencies, such as the US dollar or gold, offering stability and reliability. This process allows users to leverage their BTS holdings to create stable digital assets on the BitShares platform.

Smartcoins can be purchased on the market and held as an asset. Additionally, users who hold BTS (BitShares) can deposit their BTS as collateral on the blockchain and have Smartcoins issued to them by the blockchain. In this case, selling the Smartcoins issued by the blockchain in the BTS market allows users to effectively short the Smartcoins.

After shorting Smartcoins in the BTS market, if the price of BTS rises, users can buy back Smartcoins at a lower price using BTS. After repaying the Smartcoins to the blockchain, they will still have some Smartcoins left over. Alternatively, if they sell these excess Smartcoins, they can increase their holdings of BTS.

Conversely, if the price of BTS falls after shorting Smartcoins, users will have to buy back Smartcoins at a higher price, resulting in a loss. This explanation outlines how users can interact with Smartcoins and BTS in a blockchain context, including strategies for shorting and the potential outcomes based on market movements.

Holding smartcoins physically is equivalent to electronically holding the underlying asset of the smartcoin. For example, owning 10,000 bitJPY is equivalent to holding 10,000 yen in value.

If you possess 10,000 bitJPY, you have the right to exchange it for 10,000 yen worth of BTS (BitShares) at any time. This process of exchanging bitJPY for an equivalent value in BTS is called “settlement.” When you settle, you pay 10,000 bitJPY to the blockchain, and after 24 hours, the blockchain sends 10,000 yen worth of BTS to your BitShares account at the market value on the following day.

The BitShares platform offers a unique decentralized exchange (DEX) that allows users to trade various assets, including BitUSD and BTS. Understanding the difference between shorting BitUSD and buying BTS is crucial for navigating this platform effectively. Here’s a breakdown of each concept:

SmartCoins are a unique feature of the BitShares blockchain, designed to provide stability and utility within the decentralized financial ecosystem. Here’s how they work:

It was shocking when Dan Larimer created BitShares, a ‘complete DAO,’ but it seems that when the developer disappears, the community loses momentum. As a result, the community is now full of bots. At the time, it was amazing to have a DAO that operated without human intervention. Dan could have continued developing it to enable NFT creation, but that would have turned it into more of a project than a DAO, so he probably didn’t want to do that. Well, it can’t be helped.

Compared to BitShares, Steemit, which Dan also created around the same time, seems to have more activity. Maybe it’s because it’s a blogging platform. However, after various events, Steemit underwent a hard fork, leading to the creation of Hive.blog, but it doesn’t seem to be doing very well either.