A terrible piece of work? I thought it was well-written and quite clear, something that's difficult to do when writing about new technology. And what premise felt made up to you?
Please chime in and help keep this thread (which I did not start) up on Reddit. The Bitcoin mods may take it down, so the second link below shows the article it references...which is superb for Bitshares, one of the best and most stoked explanations I have seen.
While it is a positively written article for Bitshares, it's a terrible piece of work and the premise feels made up.
Wrapping your mind around Bitshares is like taking the Electric Kool-Aid Acid Test.
The Electric Kool-Aid Acid Test is a book by Tom Wolfe about Acid parties, not a real Test. Comparing Bitshares to an acid trip seems out of place.
“In the dotcom era, there were all these ideas, all these companies, but none of them made any money,” Mr. Page says...
Ok. "None", are you sure?
“The algorithm says 50 percent of ticket sales go to one winner,” he says. “The other 50 percent goes as profit to shareholders. Immediately, that DAC would be profitable.
This is how a lottery works. Most lotteries have a more complicated algorithm where their is a tiered structure of winners. Nothing special.
“Look at Berkshire Hathaway and Warren Buffet,” he says. “Berkshire became a company that collects other companies, and now one share of Berkshire is worth $160,000.”
OK, this is just childish speculation.
The Kool-Aid tastes good, I think.