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Offline bitmarket

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Headline suggestions
« on: September 25, 2014, 01:02:36 AM »

Hey team,

So I am thinking the next concept I will introduce via video to the bitcoin community is DAC's. Profitable Crypto's vs non-profitable crypto's.   Again this will not be a ram it down your throat btsx is awesome video.

It will be a bitcoin and blockchain are awesome because it allows DAC's.

What is a headline that would make a devout bitcoiner click on to learn about this topic?

Thanks for suggestions in advance.

M
Host of BitShares.TV and Author of BitShares 101

Offline toast

Re: Headline suggestions
« Reply #1 on: September 25, 2014, 01:32:53 AM »
"How can a cryptocurrency be made profitable?" / "what if you could get paid to hold bitcoin from the transaction fees?"

I'd wait until after dan's keynote so you can refer to it as an authority

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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 santaclause102

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Re: Headline suggestions
« Reply #2 on: September 25, 2014, 04:03:19 AM »
"Is Bitcoin more like a currency or more like a company?"

Here is my most simple reasoning to "proof" that Bitcoin is better described as a company than a currency.

First: It is stupid to call it a currency, simply because Bitcoin fulfills pretty much all criteria of  money but the two related things that distinguishes currency from money (the fact that a currency is issued by a state and the fact that there can only be one currency within a currency zone; sometimes the definition of currency is equal to the def. of money but that doesnt help us here) is not the case with bitcoin.

Second: It is a matter of fact that there can be many crypto ledgers all providing the same service (this wouldn't make sense if we said "it is a matter of fact that there can be many crypto currencies all providing the same service since currency implies that there can only be one; but currency is only an analogy not reality). These different cryto ledgers compete with each other. What makes Bitcoin be the most used is the network effect but this is not what makes a currency being the only money used. The force of the state (to pay taxes with it) makes currencies being the only money used in a currency zone. These observations alone indicate / prove that Bitcoin might be more accurately analysed as a company (value transfer is the service the virtual and decentralized company is providing) than a currency.



Here is my most simple explanation in how far Bitcoin is a DAC: 

"Decentralized Autonomous Company" (DAC) is only a metaphor, an analytical framework. This metaphor applies to Ethereum, Bitcoin and most Bitshares projects alike. The difference is the complexity of the service that is realized and the way it is implemented. The DAC analogy/metaphor was first introduced by Stan Larimer back in September 2013. 
Bitcoin can be described as a DAC:

a) It is decentralized insofar as a government could shut down a lot of miners but the network would continue to process transactions because one could never shut down all miners.
This can be argued to a degree because the growing centralization of ASIC mining.

b) Bitcoin is autonomous because it does not depend on it's creator to keep on running.
This can be argued because the Bitcoin foundation has de-facto control over decisions to change the code.

c) Bitcoin is insofar a company as it provides a service (The Bitcoins network allows for "value transfer" with applications in remittance, e-commerce etc.), it has expenses  (electricity costs of miners) and "employees" (miners), it has revenues (fees) and Bitcoins can be seen as shares in the "Bitcoin value-transfer-network" which go up in value if the network is used much because the amount of Bitcoins which are necessary to make a transaction over the network is limited. This again can be argued on several levels.
Of course, no analogy can ever be a perfect description of the (code and social) reality. An analogy can be helpful explaining things but holds the potential for misunderstandings if the analogy is taken too far. The analogy doesn't shape the reality.

I have tried to define DAC here more accurately: https://bitsharestalk.org/index.php?topic=7730.msg102386#msg102386

Hope it helps with creating material.
« Last Edit: September 25, 2014, 01:22:14 PM by delulo »

Offline bitmarket

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Re: Headline suggestions
« Reply #3 on: September 25, 2014, 04:08:14 AM »
"How can a cryptocurrency be made profitable?" / "what if you could get paid to hold bitcoin from the transaction fees?"

I'd wait until after dan's keynote so you can refer to it as an authority

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When is that?
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Offline toast

Re: Headline suggestions
« Reply #4 on: September 25, 2014, 04:14:38 AM »
"How can a cryptocurrency be made profitable?" / "what if you could get paid to hold bitcoin from the transaction fees?"

I'd wait until after dan's keynote so you can refer to it as an authority

Sent from my SCH-I535 using Tapatalk

When is that?

October 7th
http://insidebitcoins.com/las-vegas/2014/agenda/
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 Mysto

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Re: Headline suggestions
« Reply #5 on: September 25, 2014, 08:32:26 AM »
Again this will not be a ram it down your throat btsx is awesome video.


I think the approach you are taking is far more effective than others that try to attack bitcoin head on.

https://bitsharestalk.org/index.php?topic=9254.0
^this approach just leads to frustration and not a great deal of progression.

 +5% keep up the good work!

Offline tonyk

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Re: Headline suggestions
« Reply #6 on: September 25, 2014, 08:47:43 AM »
Hey team,

So I am thinking the next concept I will introduce via video to the bitcoin community is DAC's. Profitable Crypto's vs non-profitable crypto's.   Again this will not be a ram it down your throat btsx is awesome video.

It will be a bitcoin and blockchain are awesome because it allows DAC's.

What is a headline that would make a devout bitcoiner click on to learn about this topic?

Thanks for suggestions in advance.

M

While, I think you are far better than me in this kind of stuff.

here is what I will use:

"BTC is it profitable by itself?"
"BTC is actually a company... Should we make it profitable?"

"Making money with Bitcoin. Few novel ideas."
"Sitting DACs, aka BTC making money for you"

Lack of arbitrage is the problem, isn't it. And this 'should' solves it.

Offline stuartcharles

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Re: Headline suggestions
« Reply #7 on: September 25, 2014, 09:47:08 AM »
Glad you are making another video, last one was great.

My stab at a title.

Staffless, profitable and autonomous Companies living on Bitcoin Blackchain!

Offline davidpbrown

Re: Headline suggestions
« Reply #8 on: September 25, 2014, 10:14:28 AM »
I don't know a title springs to mind but would like to see more made of the difference between what is currency and what is trade. The Bitcoin2.0 is distinct because it allows trade in assets and is not just simply currency. There is still perhaps an element of law missing that locks in the relationship between a token and a real world item; perhaps we will see 2.0a and 2.0b then where one is more simple pegs to asset value or function beyond currency and then tokens that are acknowledged as having real meaning.. like car engine locks. Settings then DACs in context might be useful to provide a sense of perspective in this new world.
฿://1CBxm54Ah5hiYxiUtD7JGYRXykT5Z6ZuMc

Offline speedy

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Re: Headline suggestions
« Reply #9 on: September 26, 2014, 04:20:41 PM »
I dont know if you have seen this headline yet:

http://blogs.wsj.com/moneybeat/2014/09/17/bitbeat-boston-fed-sees-bitcoin-flaws-but-cryptocurrency-potential/

Even the fed has concluded that mining is a “serious design flaw". Then again Im not sure that citing the Fed is likely to impress any Bitcoiners.

Looking forward to seeing your next video Max!

Offline James212

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Re: Headline suggestions
« Reply #10 on: September 26, 2014, 07:08:33 PM »
Ive been thinking about this lately and I am beginning to conclude that we may be taking on Bitcoin  too directly and this may not be the best short-term marketing strategy  (more on this in a coming post).  With that said, I think maybe Bitshares should be positioned as Bitcoins, equity/asset sibling.  ....."Bitshares does for Equities what Bitcoin does for currency".   Using Bitcoins name recognition to boost the attention to Bitshares.  Going with this tactic, we would avoid any direct comparisons with Bitcoin that puts Bitcoin in a negative light (this we will leave for a later growth phase ).  The main hook here is that Bitshares is Bitcoin for equitys.... This is 90% of Bitshares' features anyway.  The unique benefit here is that currently in the market these features are not being provided by any significant project.  unlike currency which is captured by the 10 ton behemoth that is Bitcoin. 

So this is were Bitshares can quickly become recognized as a top provider without having to face much phycological resistance from the market.  We will just forgo (for now) any talk about the other 10% capability of Bitshares (bitUSD) as a superior currency.  True this will be more of a challenge for us as a community because most people understand the "currency" crypto play well enough, but few can relate to how crypto can improve asset trading and equities.  So we start at the top and draw parallels all the way down: the benefit the Bitcoin provide (currency)   the benefit that Bitshares provide (equity)......... speed, security, privacy, potential market, how world finance can improved, how the system cuts out the middle man and is more fair......on and on.   
BTS: theangelwaveproject

Offline bitmarket

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Re: Headline suggestions
« Reply #11 on: September 26, 2014, 07:56:13 PM »
HI James, I agree with the thought.  But I dont think it is going to make a bitcoiner click on that headline.   Perhaps....

Bitcoin is the killer blockchain currency app. What is the killer blockchain equity app? 

At present I am a leaning towards...
Option 1) I just had a huge aha moment for what blockchain, can provide.
Option 2) The revolution will not be centralized.

Thanks everyone for their suggestions.  Especially you Tonyk.  You made me feel like a dick, helping me with headlines here, and I am dressing you down on another post.  :)
Host of BitShares.TV and Author of BitShares 101

Offline nedscott

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Re: Headline suggestions
« Reply #12 on: September 26, 2014, 08:21:33 PM »

Hey team,

So I am thinking the next concept I will introduce via video to the bitcoin community is DAC's. Profitable Crypto's vs non-profitable crypto's.   Again this will not be a ram it down your throat btsx is awesome video.

It will be a bitcoin and blockchain are awesome because it allows DAC's.

What is a headline that would make a devout bitcoiner click on to learn about this topic?

Thanks for suggestions in advance.

M

While, I think you are far better than me in this kind of stuff.

here is what I will use:

"BTC is it profitable by itself?"
"BTC is actually a company... Should we make it profitable?"

"Making money with Bitcoin. Few novel ideas."
"Sitting DACs, aka BTC making money for you"

The second suggestion. +5%


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Offline luckybit

Re: Headline suggestions
« Reply #13 on: September 26, 2014, 09:00:19 PM »
Hey team,

So I am thinking the next concept I will introduce via video to the bitcoin community is DAC's. Profitable Crypto's vs non-profitable crypto's.   Again this will not be a ram it down your throat btsx is awesome video.

It will be a bitcoin and blockchain are awesome because it allows DAC's.

What is a headline that would make a devout bitcoiner click on to learn about this topic?

Thanks for suggestions in advance.

M
Welcome to the world wide web of DACs.
https://metaexchange.info | Bitcoin<->Altcoin exchange | Instant | Safe | Low spreads

Offline James212

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Re: Headline suggestions
« Reply #14 on: September 26, 2014, 10:04:32 PM »
HI James, I agree with the thought.  But I dont think it is going to make a bitcoiner click on that headline.   Perhaps....

Bitcoin is the killer blockchain currency app. What is the killer blockchain equity app? 

At present I am a leaning towards...
Option 1) I just had a huge aha moment for what blockchain, can provide.
Option 2) The revolution will not be centralized.

Thanks everyone for their suggestions.  Especially you Tonyk.  You made me feel like a dick, helping me with headlines here, and I am dressing you down on another post.  :)

Hi Bitmarket, the killer blockchain equity app is of course what you will be telling them about, Bitshares! :-)  My idea is simply a play on the Bitcoin name recognition.   

I do like your ideas, but they may require too much to think about to work as an entry line.  Then again, my name recognition thing my just be to simple and innocent for the die hard-crypto geeks out there.  Anyway I'm sure you will make a good decision.

 I enjoyed you previous video by the way.   
BTS: theangelwaveproject

 

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