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Offline furney

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stupid question!!! or not
« on: January 22, 2015, 11:12:22 AM »

Is bitshares value linked to play, music, bitusd and any other dacs that will be made over time :)

Offline santaclause102

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Re: stupid question!!! or not
« Reply #1 on: January 22, 2015, 03:22:14 PM »
BitShares PLAY and BitShares Music are DACs - the value of BitShares (BTS) is only linked to the sucess of these two in so far they also market BitShares as they are based on similar software. BitUSD is not a DAC but a market pegged asset. The value of BitShares is directly linked to the demand for BitUSD.

Offline furney

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Re: stupid question!!! or not
« Reply #2 on: January 22, 2015, 06:20:03 PM »
Thank you.

So for clients to use Dacs, would i assume they need to buy Bitusd and in turn that Bitusd will be Bitshares and in turn bitshares will be used as a currency in Dacs?
Or will all these Dacs have there own currencies or even accept Bitcoin or other crypto's in the future


Offline furney

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Updated heading!

Offline santaclause102

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Re: stupid question!!! or not
« Reply #4 on: January 22, 2015, 06:43:06 PM »
Thank you.

So for clients to use Dacs, would i assume they need to buy Bitusd and in turn that Bitusd will be Bitshares and in turn bitshares will be used as a currency in Dacs?
Or will all these Dacs have there own currencies or even accept Bitcoin or other crypto's in the future
that was a bit confusing :) I don't fully understand what you mean by "as a currency in Dacs".

I assume by "to use DACs" you mean using the servicve these DACs are providing. Examples help: The BitShares DAC has many functions/sevices: BitUSD for example can be used as a stable medium of exchange. Therefore you just have to buy BitUSD with USD or BTC or whatever and then transfer this to the recipient -> Service of transferring value accomplished.
BitShares Music: You need to buy BitUSD with something and with this you can buy Music.
It all depends on the service you want to use respectively what you want to use the DAC for.

Offline furney

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Re: stupid question!!! or not
« Reply #5 on: January 22, 2015, 10:45:54 PM »
Thank you,

Starting to make sense.

In terms of spending Bitcoin in the future; we all hope it will be accepted in paying for goods and services etc everywhere.

How does Bistshares differ to bitcoins spending ability in the future

Will we use bitshares to buy things or am i missing the point somewhere ??

Last question , Thank you!!

Offline santaclause102

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Re: stupid question!!! or not
« Reply #6 on: January 22, 2015, 11:06:00 PM »
Thank you,

Starting to make sense.

In terms of spending Bitcoin in the future; we all hope it will be accepted in paying for goods and services etc everywhere.

How does Bistshares differ to bitcoins spending ability in the future

Will we use bitshares to buy things or am i missing the point somewhere ??

Last question , Thank you!!
Happy to help.

With BitShares, it is the BitAssets that are supposed to be used as "money", at least intermediately. You can read more about it here http://bytemaster.bitshares.org/article/2015/01/01/How-to-create-a-stable-decentralized-crypto-currency/

BitAssets are pegged to some external value. 1 BitUSD has always the value of 1 USD. Because there is more price stability with BitUSD than with Bitcoin BitUSD is better money.

Offline furney

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Re: stupid question!!! or not
« Reply #7 on: January 22, 2015, 11:19:21 PM »
OK thank you, will do more research



THANK YOU
« Last Edit: January 22, 2015, 11:42:45 PM by furney »

Offline furney

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Re: stupid question!!! or not
« Reply #8 on: January 22, 2015, 11:29:57 PM »
Just found this - good read on how Bitshares works

http://bytemaster.bitshares.org/guest/2014/12/22/How-BitShares-Works/

Offline santaclause102

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Re: stupid question!!! or not
« Reply #9 on: January 22, 2015, 11:37:07 PM »
OK thank you, will do more research

So why hold / invest in BTS then

THANK YOU

For every Bitasset in existence there must be at least two times the value in BTS. So if demand for Bitassets go up the demand (and price) for BTS goes up...

Offline furney

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Re: stupid question!!! or not
« Reply #10 on: January 22, 2015, 11:45:41 PM »
Thank you - very kind for the taking time to answer

Offline santaclause102

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Re: stupid question!!! or not
« Reply #11 on: January 23, 2015, 12:00:22 AM »
Thank you - very kind for the taking time to answer
You are welcome. A year ago many have answered my questions and I asked a lot more :)

 

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