I would like to address some concerns that were raised about the post where I describe BitShares as a Decentralized Autonomous Community and provide some background and motivation.
First of all it is important to note that the Company Metaphor applies to all crypto-systems, not just BitShares. It is incredibly useful for helping to design and build the economics of a system and as a result describe the inevitability of a system. Companies provide a service, earn profits, share profits with shareholders, and are a concept that everyone already understands. The Company Metaphor is a great teaching metaphor for those of us who couldn't care less about SEC, marking fluff, or anything other than facts, figures, and profits.
The problem we face is if we take the Company Metaphor to the point where it ceases to be a metaphor and starts to look like reality then we are enter a regulatory quagmire. For every capitalist that is turned on by the Company metaphor, there is a anti-corporation liberal that is turned off. The company metaphor is not personal/emotional and relies on engaging an entirely different part of the brain.... a part of the brain that most of us on this forum like to think with and rely on. Why do we all like the company metaphor, because that is how I have been promoting it and thus we are a self-selected group of individuals that like the company metaphor because it brought us in.
As you can probably imagine I pitch BitShares to people everywhere I go and I sell them on the company metaphor, the profits, the security, the privacy, the yield and dividends. Many of these people are friends, family and friends of friends and thus trust what I say.... I then ask them if they will put $100 into BitUSD or buy $100 of BTSX (people that spend that much eating out several times per week). The answer I get back is almost always, "not now" or "no" and the reason is simple: the system is not mature and they are not looking for a high risk investment. The mental stress of thinking about an investment, following it on coin market cap, and wondering whether or not you will be able to get your $100 back out again is too much.
So as much as we want people to adopt us based upon the company metaphor it engages the wrong part of the brain to attract early adopters and build the initial network effect. It also attracts regulators like flies to poo.
So in the interest of maintaining a clear message for BTS launch I feel we need to distance the public pitch from the company metaphor at this point in our growth cycle. I think the only time we should use the company metaphor to describe BitShares is when we are simultaneously describing Bitcoin, Litecoin, Nxt, and Ripple virtual companies for the purpose of comparing their economics, viability, and sustainability and long term valuation potential. We can keep the company metaphor alive for educational purposes but must be diligent in preventing BitShares from becoming a company in the eyes of the regulators.
BitShares is ultimately a community of people who imbue BTS with perceived value and use BTS as a medium of exchange and unit of account to recognize those who are contributing to the community. We want to focus on the people and what the people are doing and providing value to one another.
Lets build a solid base, build a stable product, and the grow. Today the BTS price is getting hammered, but BitUSD holders are still going strong, the internal markets are being actively traded. Our product works... and lets not forget that.
Topic: Company vs Community vs Country (Read 7423 times)
