Use Gold and Silver with BitShares to bypass Fiat Regulations [BLOGPOST]

[graffenwalder]

BitShares delegates should heavily consider whether or not their price feeds are reflective of the true price of 1 oz of gold for immediate delivery and consider making adjustments to the spot price to account for the real world premiums that exist.

The same could be said for any other bitasset.

The thing we need now, is more traders and volume on BTS. Letting delegates run wild with what they think an asset should be worth. Should scare any trader away.

Edit: Let's say your next blogpost suggests that USD is on an artificial pump, should delegates be pricing BitUSD accordingly?

What happened to keeping it simple? I know this slogan was decades ago....
Really can't we just focus on getting more people on BTS and letting them trade?

[matt608]

 

2 changes I would make:
1.  The main "Conclusion" paragraph is adding new points so is not a conclusion and is aimed at delegates, i.e. 'internal' communication.  I would remove it and post it in the forum, instead end with a call to action, such as "get started with bitGOLD today" linking to bitshares.org.  At the moment it throws people who were being sold on bitGOLD off the scent.

2.  First sentence in this case is an opportunity to quote your mission + strengthen personal branding, "As you know my goal is to find market solutions to secure life, liberty, and property for all."  I would start with that instead of "make government irrelevant".  That phrase "secure life liberty and property for all" is starting to become tied to you (at least in my mind), it's a good branding angle that is also very descriptive and gives a pleasant feeling of comprehension and agreement without being unnecessarily antagonistic against government.

Other than that, a valuable post!

[abit]

Good point. Which of our marketing team will do this (promotion to gold/silver business companies) ?

[clayop]

If there existed $85 million dollars of BitGold within the BitShares ecosystem, then it would have a total collateral worth at least $255 million and would likely represent less than 10% of the BitShares supply (because not everyone would be willing to short) and because people would likely have an equal amount of value held in BitUSD, BitSilver, and BitCNY. In any event, we can conclude that if BitShares can gain the same adoption for BitGold that e-gold managed years ago then it would have a market cap of over $2.5 billion dollars and a price of $1 per BTS.

 

[mike623317]

I think this is a GREAT article.
All our delegates should absolutely do this  in my opinion and then we should PROMOTE the hell out of our stance on bitGold & BitSilver.

I think BM just gave us another competitive advantage.

 

[werneo]

He charged just 1% transaction fee with a 50 cent cap.

Who is "he"?

e-gold was founded by oncologist Douglas Jackson[5] and attorney Barry Downey in 1996.

https://en.wikipedia.org/wiki/E-gold

"He" comes out of nowhere.
The sentence should be corrected to read something like, "BitGold charged just 1% transaction fee with a 50 cent cap."

[donkeypong]

He charged just 1% transaction fee with a 50 cent cap.

Who is "he"?

e-gold was founded by oncologist Douglas Jackson[5] and attorney Barry Downey in 1996.

https://en.wikipedia.org/wiki/E-gold

He was a good guy. I had a little left in there and I didn't try to claim it, even though he spent years trying to track down all the holders after the Feds closed him down.

P.S. Great blog post. Lots to think about.

[TurkeyLeg]

http://bytemaster.bitshares.org/article/2015/01/22/Use-Gold-and-Silver-with-BitShares-to-bypass-Fiat-Regulations/

 

[onceuponatime]

He charged just 1% transaction fee with a 50 cent cap.

Who is "he"?

e-gold was founded by oncologist Douglas Jackson[5] and attorney Barry Downey in 1996.

https://en.wikipedia.org/wiki/E-gold

[islandking]

He charged just 1% transaction fee with a 50 cent cap.

Who is "he"?

The owner of egold.

[werneo]

He charged just 1% transaction fee with a 50 cent cap.

Who is "he"?

[onceuponatime]

My heart sank when e-gold went out of business.

Now it rises again.

[liondani]

 

[lovejoy]

http://bytemaster.bitshares.org/article/2015/01/22/Use-Gold-and-Silver-with-BitShares-to-bypass-Fiat-Regulations/

 +∞%

I think you could hear a pin drop right now... 


This is profound...much to ponder.

[bytemaster]

http://bytemaster.bitshares.org/article/2015/01/22/Use-Gold-and-Silver-with-BitShares-to-bypass-Fiat-Regulations/