Author Topic: 1 PTS Analogy Bounty for How BitShares X works to peg BitUSD to USD  (Read 30290 times)

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Offline bytemaster

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.
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Offline bytemaster

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

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.
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Offline barwizi

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Very Protoshares very AngelShares. Much Bitshares Much Money.
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Offline ripplexiaoshan

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3I is like a hatchery, it attracts seeds(new born DAC), gives them feeds(AGS) and helps them rise. 
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Offline wasthatawolf

It is supposed to be like a future contact with infinite maturity.

This nailed it for me. 

Offline barwizi

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Decentralization is a form of Democracy, by owning shares you get a say and benefits.
--Bar--  PiNEJGUv4AZVZkLuF6hV4xwbYTRp5etWWJ

The magical land of crypto, no freebies people.

Offline bytemaster

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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Offline Shentist

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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

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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.
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.