BitShares BitGold is currently at 195 on coinmarketcap in traditional ranking. This is misleading.
Since it trades against BitShares and all the other assets shown above on the #4 BitShares blockchain, its status is more a reflection of the
desire people currently have to lock against gold vs some other commodity or fiat currency. Interest may pick up this spring when we expect companies start offering direct off-ramps from BitGold and BitSilver to the physical metals themselves. Ever try to buy physical bullion and wait for days for your wire to get there to lock in the price? Would you like to be able to lock physical it in ten seconds?
Yeah, I though so.
At different times the global market will perceive each of these pegs as a safe haven. Right now, gold is seen as more volatile than the USD or CNY and therefore not where most people want to park risk-off money. When the world fiat currencies start misbehaving, we'll see the mix adjust in about ten seconds.
Its best to look at the sum of all these BitAssets when assessing how they are catching on, since they form a common set of options inside a single "Smart Coin" implemented as the decentralized exchange known as BitShares.
You can program your Smart Coins to track any basket of BitAssets.
-- Roll your own custom risk mix. --
That is the real power of BitShares.
