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Online Stan

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The 10 Natural Laws of the Crypto Universe
« on: February 12, 2014, 06:16:04 AM »

The Ten Natural Laws of the Crypto-Asset Universe

Sometimes our suggestions that third-party developers should honor the BitShares Social Consensus sound a bit like Invictus is just making up a set of take-it-or-leave-it rules.  We are not.  What we are suggesting are more like Natural Economic Laws we have discovered that we are bound to follow as well.

Winning the favor of the BitShares PTS/AGS community is a Big Deal because owners of PTS and AGS already represent the lion’s share of informed early adopters of the concept of crypto-equities and Decentralized Autonomous Companies (DACs).  If you get these folks on your side, they can help you fine-tune your concept and spread the word once they understand what you have in mind.  And they will be the ones most likely to invest in your idea.  Everyone else in the world needs to be educated from scratch.

Winning the favor of our community also motivates Invictus to help you launch your DAC (or even your DAC-developing company) in ways we outlined in our February 2014 Newsletter.  PTS and AGS owners expect us to build and help others build DACs that will honor their donations to building the industry.  When we do that, it increases the value of PTS and AGS, which in turn increases the purchasing power of the resources that have been donated to us to help you and other developers grow this ecosystem.

The Dark Ages

When BitShares PTS burst on the scene on Nov 5th, 2013 (barely 3 months ago) the launch process for crypto assets was a completely different arena.  People actually expected you to give away 100% of your new idea – the product of all those hours you spent in training and research and late night working sessions and sacrificed opportunities to party with your friends.   Worse, they were quite happy to burn millions of dollars of their own money in renting mining machines (buying lottery tickets) just as long as 100% of the money from those interested in your idea was burned up rather than invested in developing and promoting that idea.

And, because that was what was expected, that’s how we offered PTS.  100% of the money spent and still being spent mining PTS is irretrievably burned up in server farms and botnets around the world.  Those resources did absolutely nothing to further the development of the crypto-equity industry.  They were wasted, because that was what the group-think of the industry back in those Dark Ages demanded.

Except for one thing.

It did produce a share distribution throughout the entire world community of people interested in owning unmanned companies that was generally perceived as 100% fair.  Now there was a community of early adopters with which we could work to develop a better, more rational, Social Consensus.  A renaissance community held together by a common vision and a new top-ten crypto-currency.

The Current Renaissance

This renaissance of new thinking is priceless to you as a potential new developer, because now we have a community that understands and supports a better way.  A way that doesn’t require you to burn whatever development money you may have been able to raise just to buy back some shares in your own blood, sweat, and tears.    You have a community that understands the value of getting their shares by investing in your idea instead of consuming lottery tickets.

Now you can come to this community, honor the money they already burned for PTS to get a widely-decentralized community of stakeholders and honor the money others have donated via AGS to help build and promote a fertile field in which to launch your new idea. And you can give them the opportunity to invest directly in some of your shares, thereby raising the development funds you need.   Isn’t that better than burning 100% of the money that might have funded your idea and giving away 100% of your stake in developing it? 

So, when we say you must give 10% to PTS and 10% to AGS that’s not really true.  You can still give away 100% of your shares in an old-style mining lottery and attempt to attract some other group of supporters – those who don’t understand DACs and just want some free coins to quickly sell for a pizza or a new PC.

But if you do give those informed early adopters their 20%, you get truly committed supporters who can launch your idea to world wide fame overnight.  And you get the support of Invictus in all the ways we spoke of in our newsletter.  And you still have 80% of your shares available to raise funds and otherwise compete in the arena.

But you must be prepared to actually compete.

And that’s where all the advice we have been offering you in this forum has been coming from.  It’s not a set of rules that Invictus is trying to force on you.  It’s our observations about how we think this new ecosystem works.  We are sharing our understanding of what the BitShares Social Consensus means to all developers, including ourselves.

The Ten Natural Laws of the Crypto-Asset Universe

So here is our list of the rather obvious Ten Natural Laws of the Crypto-Asset Universe.  All wise developers should be aware of these unspoken rules of competition and plot their private business strategies accordingly:

1.   All software must be open source to be trusted.
2.   It is ethically acceptable to clone alt-coins from anybody else’s open source.
3.   If you demonstrate a good idea, others will clone it – without market objection.
4.   They will clone it if just to give it a better name.
5.   They will clone it to slightly modify one of its parameters.
6.   They will clone it to better appeal to another group of stakeholders.
7.   They will clone it to make it more profitable (and therefore more appealing).
8.   These clones will compete in the free market.
9.   The clone that appeals to the biggest and most influential crowd wins.
10.   The clone that achieves the Network Effect first may ultimately get to ignore the first 9 rules.

So, when you are considering how best to launch your new unmanned company, remember that, like it or not, you are competing in an arena governed by these Natural Laws.  This means that if you don’t get to be Number One in your market quickly, someone else will clone your product and take advantage of all the competitive edges you failed to include.

1.   They will come up with a better name.
2.   They will throw in a better algorithm.
3.   They will offer PTS and AGS holders their fair share to capture their support.
4.   They will offer PTS and AGS holders the biggest possible more-than-fair share.
5.   They will make their clone more profitable so your shares get sold to buy their shares.

So when you think about keeping that last 80% for yourself, ask:  “What will my competitor do?”  “What percent does she really need to sell to raise money for development – especially after you have done most of the work for her?”

You will quickly find that your best business model is to offer the PTS/AGS community the best deal conceivable and achieve the network effect first.  Meanwhile buy some of your own shares before everybody else figures out how great your idea will be.  Better yet, buy PTS so you will own shares in your competitor too!

Make the BitShares PTS/AGS community an offer no other competitor can beat.  Leave your competitors no viable place to grab a toehold.  Stay competitive.  Stay invested.  And let BitShares help you cross the finish line first.
Anything said on these forums does not constitute an intent to create a legal obligation or contract of any kind.   These are merely my opinions which I reserve the right to change at any time.

Offline toast

Re: The 10 Natural Laws of the Crypto Universe
« Reply #1 on: February 12, 2014, 07:33:50 AM »
 +5%
Do not use this post as information for making any important decisions. The only agreements I ever make are informal and non-binding. Take the same precautions as when dealing with a compromised account, scammer, sockpuppet, etc.

Offline xeroc

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Re: The 10 Natural Laws of the Crypto Universe
« Reply #2 on: February 12, 2014, 08:49:48 AM »
 +5%
like it .. nice thouhts
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Offline boshen1011

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Re: The 10 Natural Laws of the Crypto Universe
« Reply #3 on: February 12, 2014, 08:52:23 AM »

Well defined.

Offline CLains

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Re: The 10 Natural Laws of the Crypto Universe
« Reply #4 on: February 12, 2014, 12:35:06 PM »
Very good!  :D
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Offline CWEvans

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Re: The 10 Natural Laws of the Crypto Universe
« Reply #5 on: February 12, 2014, 02:15:32 PM »
Make the BitShares PTS/AGS community an offer no other competitor can beat.  Leave your competitors no viable place to grab a toehold.  Stay competitive.  Stay invested.  And let BitShares help you cross the finish line first.

Above all, fail early.  If your idea is not getting traction, move on to your next trick.

If the boat is sinking, let go of the rail.

Offline heropzy

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Re: The 10 Natural Laws of the Crypto Universe
« Reply #6 on: February 13, 2014, 03:54:34 PM »
 +5%
As a PTS/AGS holder, I like it. :)

Offline ksi

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Re: The 10 Natural Laws of the Crypto Universe
« Reply #7 on: February 16, 2014, 04:26:25 AM »
very thoughtful,
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Offline Amazon

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Re: The 10 Natural Laws of the Crypto Universe
« Reply #8 on: February 17, 2014, 03:44:17 PM »
 +5% totally
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Offline phoenix

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Re: The 10 Natural Laws of the Crypto Universe
« Reply #9 on: February 24, 2014, 07:50:21 PM »
 +5% agreed
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bitbro

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The 10 Natural Laws of the Crypto Universe
« Reply #10 on: February 28, 2014, 03:21:43 PM »
I think the almost essentially complete allocation of equity to PTS and AGS will deter developers because they will not be able to attain great enough equity for themselves, nor will a funding method be possible because all AGS donations go to I3 and the fundraiser is ending soon. If I am right, what will Invictus do to spur 3rd party innovation? (Also, please argue why I might be wrong if you feel I will be)


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« Last Edit: February 28, 2014, 03:23:18 PM by bitbro »

Offline toast

Re: The 10 Natural Laws of the Crypto Universe
« Reply #11 on: February 28, 2014, 05:09:52 PM »


There are so many numbers between 20 and 100 to choose from!



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bitbro

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Re: The 10 Natural Laws of the Crypto Universe
« Reply #12 on: February 28, 2014, 05:26:02 PM »
Ok, understood.  My point is that anyone can fork a DAC and turn equity for AGS/PTS into 100%.  Any developer unable to invest in AGS PTS will lose all


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Offline toast

Re: The 10 Natural Laws of the Crypto Universe
« Reply #13 on: February 28, 2014, 05:42:08 PM »
Will that dac succeed without the third party support? If yes, why should they get paid? If not, who will use the 50/50 with no devs working on it?

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