Yesterday Binance announced the delisting of Bitshares and the price plummeted by 60%. If the legal troubles that Binance found itself in weren't concerning enough for us on Hive, the delisting of Bitshares hits even closer to home.
If you ever needed more incentive to support @vsc.network upcoming Hive-Bitcoin bridge you dont need to look further than one of our "sister" chains. Some of our top witnesses developed Bitshares originally. @dan Larimer, our shared connection as well.
We like to assume we are safe because we have a very active community and continuous development but CEXes can ruin a blockchains financial prospects at a whim and leave it without a connection to the open crypto market.
We do not need to prepare for this because it will surely happen. We need to prepare because it can.
Remember what happened last time when we werent prepared?
Talking to people these last few weeks, some of them witnesses, some of them 6-7 year Hive veterans, I've seen some skepticism over our ability to tackle this problem and solving it via:
1. Creating a working decentralized bridge.
2. Providing enough liquidity.
3. Reaching internal Hive adoption.
I will never accept that. Even though I am not able to give you a definite answer if what #VSC is doing will resolve all our problems that stem from our overreliance on CEXes, I am absolutely certain that it can solve at least some.
I can oftentimes be skeptical and cynical like many others (its easy) but when it comes to burning issues like this I try to look at it differently.
Even if I was to humor the criticisms that might, or might not come, related to VSC or any other project offering a solution to this problem...
I am still willing to embrace, with open arms, a less than optimal solution over no solution at all!
I will always choose anything that is even remotely helpful if the alternative is doing nothing.
Expect me reminding you about the bridge many more times because the only way for there to be adoption and acceptance in the community is if you repeat something a 100 times and then a 100 more + 10 more times for good measure.
That is the only way to drive anything into the collective consciousness of the community.