BitShares Devil is back!
After a long hiatus from public view and exiling himself from Telegram, BitShares Architect and leader Milos Preocanin emerged for a serious session of updates via a live YouTube stream last Sunday.
Below is a reference guide, observations, and key points summarized. Be prepared to learn a lot of info both on the BitShares history, heists, and setbacks – before hearing for the first time a big list of items recently undertaken – and what is coming for BitShares and the corporate companies established to secure the future of the project. Expect some to like what they hear, and some who later may pick this up to not be so thrilled – never without a reason; as they are ALL exposed in the video. The Good, The Bad, and The Ugly are all in here.** As to the GOOD – Expect several MAJOR announcements being made public for the first time! **
Where to Begin
Skip to around the 19 minute mark for the actual start.
Introductions and updates start things before diving right into the reasons for not being present in public, namely why/how BitShares management currently requires uninterrupted focus. One key point was over wasting time fighting FUD in the hard to moderate public chat groups (Telegram). Next comes a high level summary of what Milos and Abit started with corporate BitShares since last year, and what to expect in the rest of the podcast.
From the 23 minute through to 30 minute mark we dive into some previous companies that came to BitShares and how exit scams or heists are now prevented from ever occurring again. Around 28 mins this is also combined with a run down of successes and failures around both the BitShares and Crypto industry as a whole since 2017. This will then lead you through the crash of 2018 and subsequent story of CNVOTE stopping all development and creating a ‘plutocracy’ on our project. From these opening 25 mins (19m-45m mark), we really get a good picture of BitShares history with everything that went wrong – in black and white, from the hip – before going on to explain the real life concepts of today – which are building BitShares as a serious corporate brand for global business.
Money on the Table
Moving through, with plenty of examples and backstory, by the 37 minute mark you will hear what it means and takes to be a “real DEX”. This is told in the context of global Fintech, DLT, and Crypto regulations in 2021. No “dark coins”, instead justifying how the real life path to a successful and lasting future for BitShares lies in registered, recognized, legal and licensed corporate entities the project never truly had until now. Follows up with a brief on the state of regulations in cryptocurrency in various geographies 2021, compared to how they’ve became drastically strict in many locales since 2018/2019. Formally licenses were easy to obtain. Now any blockchain project who wants to be something in the real world, can’t afford to be in the “dark” or it will never be anything. BitShares Corporate Holdings is then explained with all of the challenges faced and changes that had to be made since begun earlier this year.
BitShares – Future Stock Announcement
By the 50 minute point we move to discuss the actual goals of all the corporate and regulator friendly setup being undertaken. Hear for the first time about plans to list on the Thai SET stock market and make a technical innovation of blockchain both into the real estate markets, and showcase as a digital stock exchange. A full run down is given more than once on the stream of all of the investments, office setup, employees assets, properties purchased and held in corporate name for creating the required company value to go public.
Worker proposals are to be released soon on chain which will make more transparent all of these operations together with legal representative worker from Move Institute, Slovenia.
Around 56 minutes, more on the major issues with Telegram groups (and the people who populate them), before describing the now almost 1.5 years of actual reserve pool building savings by actual work and correct business decisions for BitShares made between Milos and Abit in 2020.
Special Mention at 58 mins, where Milos provides a very well deserved call out for Abit. (a.k.a. @abitmore).
Heists, Frauds, Schemers and Snake Oil Salesmen
From 59 mins we go to more juicy details on history of some of the worst times and heists pulled off against the blockchain. We also can learn by listening to the video of how the corruption and manipulation is rife across the industry, as well as occurring on too much of the total supply of BTS. Hear exclusively the strategy already in motion to change all of this as BitShares re-establishes their true independence for a solid future. It is around this point you might start to interpret more the meaning of DL’s hashtag of late which is #RiseOfTheLegend – How goals are being worked towards which are aligned to the original vision and founders intent for the project.
At 1 hour 18 mins, hear the public plans for BitShares and how listings on the world’s most respected exchanges will happen. Then at 1 hour 30 minutes, is the announcement of 3 workers to be launched on chain shortly.
Alongside the above are open Q&A by interacting with the chat group, where many more worthy details on BitShares Management Group and holdings are broken down.
BitTHB – Thai Baht as pegged BitShares Smartcoin (and more)
At 2 hours you can hear all about this topic and how it is going to be proposed for real use to financial institutions in Thailand.
Along with this, hear more about the specifics of the StakeBTS program. Far too much good stuff than this article can pack in – goes on from here until the 2 hour 25 min mark – includes more on investors, plans, independence for the BitShares project, how the team are working and where the funding came from? We hear how many of them indeed used their own funds and trading skills to continue working on BitShares without salaries or active workers.
Dev updates and dBTS – The ERC-20 BTS Token PEG
2 hours 32 minutes- Very interesting walk through with screens on all of the dev projects happening and a great background story on how dBTS came about, the plans for it, and what the benefits are to be upon launch. 2 hours 45 mins see Milos going into more details on StakeBTS from the dev and administration point of view, including some nice tips if you are interested in trading.
Everything else, from 3 hours on we reach a big update on personal life, then moving into even more updates which haven’t been covered up until now. The last section is full of these, where we even run out of room for them all. Milos breaks down his jaw-dropping long ‘to do’ list, and runs down a list of perhaps a dozen micro-deliveries to see coming up just this month. Finally hearing about BitShares Enterprises – Cambodia, and **BitShares SL – a completely new concept of off-grid capable payment platform utilizing a scaled down BitShares (fork of TUSC), satellite, and renewables/solar. **Anyone seen Elon? We sure hope he will deliver those modems we paid for
It’s really difficult to sum up the whole 3 hours in brief, so this wraps up what is a mere summary. More details will come as articles on https://news.bitshares.org on individual topics as they launch, and there is also information across https://bitshares.org and https://bitsharesmanagement.group for all who are interested. For the most curious or who would really like to get a full grip on some of BitShares most graphic history and plans for today – it’s really worth your time to work through the whole stream. We hope you also found this summary and pointers to time marks useful.