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Offline bytemaster


Quote
Maybe we need an open analogy bounty.  All good analogies could then be used in any future marketing campaigns.  Not only could this lead to good marketing material but it would help encourage people on these boards to think about these concepts in new, creative ways.

We will award 1 PTS to every unique analogy or clarified analogy that we think provides new insight with fewer words.  We are the sole judge but will award this bounty liberally.

Analogies that I have used thus far:  The price is pegged by the same principles that peg a prediction market.  They are financial derivatives.  They are an IOU from the blockchain issued when a user makes a collateralized IOU to the blockchain.   It works just like a bank. 

Every creative, concise, and accurate analogy or clarification/rephrasing of one of my analogies has an opportunity to earn 1 PTS. 

We reserve the right for partial rewards as well.
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Anything said on these forums does not constitute an intent to create a legal obligation or contract between myself and anyone else.   These are merely my opinions and I reserve the right to change them at any time.

Offline Shentist

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Re: 1 PTS Analogy Bounty for How BitShares X works to peg BitUSD to USD
« Reply #1 on: January 15, 2014, 08:46:36 PM »
Quote
Think about quantum entanglement. You can bind anything together and they doing the same. As example USD/EUR is entangled to BitUSD/BitEUR. So you get a old correlation in a decentralised environment.


Sorry for my bad english :D

Offline bytemaster

Re: 1 PTS Analogy Bounty for How BitShares X works to peg BitUSD to USD
« Reply #2 on: January 15, 2014, 09:08:36 PM »
Quote
Think about quantum entanglement. You can bind anything together and they doing the same. As example USD/EUR is entangled to BitUSD/BitEUR. So you get a old correlation in a decentralised environment.


Sorry for my bad english :D

I am afraid I cannot follow that analogy ;)
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Anything said on these forums does not constitute an intent to create a legal obligation or contract between myself and anyone else.   These are merely my opinions and I reserve the right to change them at any time.

Offline barwizi

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Re: 1 PTS Analogy Bounty for How BitShares X works to peg BitUSD to USD
« Reply #3 on: January 15, 2014, 09:17:52 PM »
Decentralization is a form of Democracy, by owning shares you get a say and benefits.
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Offline wasthatawolf

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Re: 1 PTS Analogy Bounty for How BitShares X works to peg BitUSD to USD
« Reply #4 on: January 15, 2014, 10:43:28 PM »
It is supposed to be like a future contact with infinite maturity.

This nailed it for me. 

Offline ripplexiaoshan

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Re: 1 PTS Analogy Bounty for How BitShares X works to peg BitUSD to USD
« Reply #5 on: January 15, 2014, 10:45:58 PM »
3I is like a hatchery, it attracts seeds(new born DAC), gives them feeds(AGS) and helps them rise. 
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Offline barwizi

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Re: 1 PTS Analogy Bounty for How BitShares X works to peg BitUSD to USD
« Reply #6 on: January 15, 2014, 10:49:45 PM »
Very Protoshares very AngelShares. Much Bitshares Much Money.
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Offline bytemaster

Re: 1 PTS Analogy Bounty for How BitShares X works to peg BitUSD to USD
« Reply #7 on: January 15, 2014, 11:16:54 PM »
Decentralization is a form of Democracy, by owning shares you get a say and benefits.
Doesn't explain BitUSD price pegging.  The market is the ultimate democracy.
For the latest updates checkout my blog: http://bytemaster.bitshares.org
Anything said on these forums does not constitute an intent to create a legal obligation or contract between myself and anyone else.   These are merely my opinions and I reserve the right to change them at any time.

Offline bytemaster

Re: 1 PTS Analogy Bounty for How BitShares X works to peg BitUSD to USD
« Reply #8 on: January 15, 2014, 11:17:09 PM »
Very Protoshares very AngelShares. Much Bitshares Much Money.
LOL
For the latest updates checkout my blog: http://bytemaster.bitshares.org
Anything said on these forums does not constitute an intent to create a legal obligation or contract between myself and anyone else.   These are merely my opinions and I reserve the right to change them at any time.

Offline bytemaster

Re: 1 PTS Analogy Bounty for How BitShares X works to peg BitUSD to USD
« Reply #9 on: January 15, 2014, 11:17:46 PM »
3I is like a hatchery, it attracts seeds(new born DAC), gives them feeds(AGS) and helps them rise.

I like this analogy for 3I but does not address how BitShares X works to Peg BitUSD to USD.
For the latest updates checkout my blog: http://bytemaster.bitshares.org
Anything said on these forums does not constitute an intent to create a legal obligation or contract between myself and anyone else.   These are merely my opinions and I reserve the right to change them at any time.

Offline bytemaster

Re: 1 PTS Analogy Bounty for How BitShares X works to peg BitUSD to USD
« Reply #10 on: January 15, 2014, 11:18:03 PM »
It is supposed to be like a future contact with infinite maturity.

This nailed it for me.
I agree that is a very good one.
For the latest updates checkout my blog: http://bytemaster.bitshares.org
Anything said on these forums does not constitute an intent to create a legal obligation or contract between myself and anyone else.   These are merely my opinions and I reserve the right to change them at any time.

Offline Geneko

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Re: 1 PTS Analogy Bounty for How BitShares X works to peg BitUSD to USD
« Reply #11 on: January 15, 2014, 11:26:18 PM »
They are peace of bet from every market move.

Offline bitcoinba

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Re: 1 PTS Analogy Bounty for How BitShares X works to peg BitUSD to USD
« Reply #12 on: January 15, 2014, 11:27:41 PM »
Mine from the Bitshares Brand thread:



"Bitshares: the digital standard for assets and equities." or even simpler "Bitshares: the digital standard of value exchange."




Offline bytemaster

Re: 1 PTS Analogy Bounty for How BitShares X works to peg BitUSD to USD
« Reply #13 on: January 15, 2014, 11:38:43 PM »
So far I see good marketing slogans for BitShares X but not any analogies that explain the BitUSD to USD peg....
For the latest updates checkout my blog: http://bytemaster.bitshares.org
Anything said on these forums does not constitute an intent to create a legal obligation or contract between myself and anyone else.   These are merely my opinions and I reserve the right to change them at any time.

Offline Geneko

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Re: 1 PTS Analogy Bounty for How BitShares X works to peg BitUSD to USD
« Reply #14 on: January 16, 2014, 12:01:59 AM »
So far I see good marketing slogans for BitShares X but not any analogies that explain the BitUSD to USD peg....

I think nobody knows exactly how it works but ashamed to admit. Maybe some plain language explanation would help or link from where to learn about.

 

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