Stan, please tell me this isn’t true. We’re all, (well not you), about to sink as the blockchain fills with sticky gunge and it’ll take days to move a satoshi.
I know bitshares is claimed to be super fast (I’m trading BTS, OPEN.BTC and bitUSD on the Bitshares exchange and it’s true, it’s super fast.
I still don’t understand this bit.currency and open.asset thing. It looks like real money, but for all I know it could be just imagination.
Let us pray....
bit.currency is market pegged asset (MPA) and backed by at least 200% collateral, ie. bitUSD and bitCNY. It is the most honest, trustworthy crypto-money on the planet and several Chinese exchanges are starting to replace Tether with bitAssets like bitUSD and bitCNY (https://www.aex.com/).
open.whatever is a user issued asset (UIA) created by gateways (such as OpenLedger) and is theoretically backed 1:1 by "whatever". So when you deposit 1 BTC via OpenLedger they issue you 1 open.BTC to go trade with on the DEX. This is exactly what Binance, Polo, Bittrex etc. do but Bitshares is honest and transparent about it.
Crypto-bridge (http://crypto-bridge.com/) is creating a decentralized gateway that solves the trust issue with gateways like OpenLedger, Rudex, etc.
"It looks like real money, but for all I know it could be just imagination."
Same can be said for grand dad bitcoin ;-)
Many questions already presented @stan
I think we should learn a lot, and study the important details
But what is the right direction and how do we benefit from this change?