Bitcoin is/was a great project, it's dream to provide banking system to everyone, to release us from government and banks that's been controlling us for centuries. But, what Bitcoin missed in it's project cannot be and can never be fix.
To those who don't know, Bitcoin process our transactions from it's network through what we also know as `MINING`. To compensate these miners, we need to pay them fees. But as Bitcoin's difficulties grows, Miners must also adjust their hardware to increase it's HASH POWER to process our transactions. So to compensate for that, Bitcoin must increase the fee so that these Miners will continue to provide services for us.
What will happen for the little investors out there that wanted to buy some Bitcoin? Imagine if you have $100 and wanted to invest in Bitcoin. As soon as you buy some Bitcoin, you already lose some because you have to buy them at higher price. Then if you wanted to move it to an exchange you have to pay the transaction fee of $10 - $15. Imagine what will be left in your investment?<br><br>
## Corruption in Centralize Exchanges<hr>
The recent price hike of Bitcoin was all because of Tether (USDT). Did you all know that centralized exchanges like Bittrex and Bitfinex was supplied with hundreds of millions of Tether? Tether is telling us that every USDT is backed with a US reserved dollar. But how did they manage to produce such amount? Bitfinex explained that they are the ones who is actually buying those Tethers. Does it also means that they are the ones that manipulated Bitcoin's price and dump it to $11,000.
As of now, they are limiting Bitcoin withdrawal. Why? Do they still have the Bitcoin in their wallet? If you know how Centralize exchange works. They don't actually transfer the assets in your wallet but they are all stored in a single wallet. If this single wallet is hack, everything including your Bitcoin will also be taken along with it. Your wallet is just a reference with a record backing that you have a Bitcoin in their Bitcoin wallet. Imagine the transactions that are being done in their exchange. Imagine. . . That they have unlimited value in every asset and they can do whatever they want with the price of every crypto in their exchange? Price manipulation is easy if you don't use real money at all.
I'm not saying they are doing this but what if? So how can we avoid something like this?<br><br>
## Bitshares Decentralize Exchange<hr>
Bitshares Decentralize Exchange is different from Centralize exchanges like Bittrex and Bitfinex. Your assets are stored in your wallet. So if a wallet is hacked. The only assets that will be hacked is only in that wallet alone. Unlike Centralize exchange, if their wallet is hacked, every asset in that wallet will be stolen.
To make Bitshares Decentralize Exchange more better, every transactions that is happening is transparent. It is actually recorded in everyblock.
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Unlike centralize exchange that process only reference of what you have and what they have. Since they are the ones that are in control they can say that they have amount of Tether like this and amount of bitcoin like that.
Now what makes Bitshares so special is Bitshares can actually adapt to every circumstances. Unlike Bitcoin that adjusts it's fee for the benefit of miners not the investors. Bitshares actually adjusts for the benefit of the community. This is all possible because of DPOS(Delegates Proof of Stakes) the witnesses that are voted by Bitshares Investors are the one that process transactions in the Bitshares Network. And the Bitshares Holders are the one that chooses which adjustments that are needed to make Bitshares Network more investors friendly.
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Unlike Bitcoin, that they are the ones who decides which will benefit. The investors or the miners? Sure they will choose the miners. Without the miners Bitcoin will die.
Bitshares also process transactions at super fast speed. We all know how long does it take for those miners to process our transactions. And yes we still need to pay them high fee to make it more worst.
This is the chart that shows how Bitshares process thos trasactions and not even using atleast 3% of it's processing power.
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Soon Bitcoin's Power will shift to what suites the investors not the miners. If you wanted to invest your money in cryptocurrency I suggest don't put your money where the miners are the ones benefiting in your money. Invest it in a community driven platform like Bitshares. Your money, your decision. Don't let them decide what they will do to your money. You can actually decide how changes or what changes you want in the Bitshares Network.
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