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Offline MktDirector

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Better than Bitcoin Interview with Bit N Mortar
« on: October 13, 2014, 02:21:59 PM »

An interview with Brian Page at Inside Bitcoins Las Vegas

https://www.youtube.com/watch?v=rJLorcpPdcI

Offline Riverhead

Re: Better than Bitcoin Interview with Bit N Mortar
« Reply #1 on: October 13, 2014, 02:28:00 PM »
 +5%  Well done!

Offline cgafeng

Re: Better than Bitcoin Interview with Bit N Mortar
« Reply #2 on: October 13, 2014, 02:29:24 PM »
 +5%
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Offline Murderistic

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Re: Better than Bitcoin Interview with Bit N Mortar
« Reply #3 on: October 13, 2014, 09:04:14 PM »
Stud!

Offline Mysto

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Re: Better than Bitcoin Interview with Bit N Mortar
« Reply #4 on: October 13, 2014, 09:27:40 PM »
You explained bitshares elegantly and in an easy to understand way  +5%

Offline starspirit

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Re: Better than Bitcoin Interview with Bit N Mortar
« Reply #5 on: October 13, 2014, 09:50:05 PM »
This was a really great interview, keep it up.

One thing I don't understand is why is it necessary to tell people Bitcoin is a company (an unprofitable one) not a currency. Firstly, I don't really understand the logic of why it cannot be considered a currency. But secondly if people want to think of Bitcoin as a currency, that's fine, because its not in direct competition with Bitshares. As I am a bit confused, maybe others are, so is it really a key marketing point?

Offline toast

Re: Better than Bitcoin Interview with Bit N Mortar
« Reply #6 on: October 13, 2014, 09:55:50 PM »
This was a really great interview, keep it up.

One thing I don't understand is why is it necessary to tell people Bitcoin is a company (an unprofitable one) not a currency. Firstly, I don't really understand the logic of why it cannot be considered a currency. But secondly if people want to think of Bitcoin as a currency, that's fine, because its not in direct competition with Bitshares. As I am a bit confused, maybe others are, so is it really a key marketing point?

I think it's important to explain that DACs are an extension of the cryptocurrency concept, otherwise people think of traditional companies and then start trying to decentralize them - this leads you astray very fast and doesn't capture what we're really about
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Offline roadscape

Re: Better than Bitcoin Interview with Bit N Mortar
« Reply #7 on: October 13, 2014, 10:10:51 PM »
One thing I don't understand is why is it necessary to tell people Bitcoin is a company (an unprofitable one) not a currency. Firstly, I don't really understand the logic of why it cannot be considered a currency. But secondly if people want to think of Bitcoin as a currency, that's fine, because its not in direct competition with Bitshares. As I am a bit confused, maybe others are, so is it really a key marketing point?

From a BTS/DAC perspective, Bitcoin definitely resembles shares more so than a currency. The shares happen to be in an unprofitable company.

It's a great marketing pitch. When it clicks, there's an "ah-ha!" moment of understanding. Followed by a smug grin.
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Offline biophil

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Re: Better than Bitcoin Interview with Bit N Mortar
« Reply #8 on: October 13, 2014, 10:21:45 PM »
One thing I don't understand is why is it necessary to tell people Bitcoin is a company (an unprofitable one) not a currency. Firstly, I don't really understand the logic of why it cannot be considered a currency. But secondly if people want to think of Bitcoin as a currency, that's fine, because its not in direct competition with Bitshares. As I am a bit confused, maybe others are, so is it really a key marketing point?

From a BTS/DAC perspective, Bitcoin definitely resembles shares more so than a currency. The shares happen to be in an unprofitable company.

It's a great marketing pitch. When it clicks, there's an "ah-ha!" moment of understanding. Followed by a smug grin.

Yeah, one of the Larimers' early metaphors was that Bitcoin is a company that pays 100% of revenue and a huge dilution subsidy to security guards (aka miners). That really clicked with me, and is one of the reasons I'm with BitShares today.

Offline sschechter

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Re: Better than Bitcoin Interview with Bit N Mortar
« Reply #9 on: October 13, 2014, 10:33:46 PM »
One thing I don't understand is why is it necessary to tell people Bitcoin is a company (an unprofitable one) not a currency. Firstly, I don't really understand the logic of why it cannot be considered a currency. But secondly if people want to think of Bitcoin as a currency, that's fine, because its not in direct competition with Bitshares. As I am a bit confused, maybe others are, so is it really a key marketing point?

From a BTS/DAC perspective, Bitcoin definitely resembles shares more so than a currency. The shares happen to be in an unprofitable company.

It's a great marketing pitch. When it clicks, there's an "ah-ha!" moment of understanding. Followed by a smug grin.

Yeah, one of the Larimers' early metaphors was that Bitcoin is a company that pays 100% of revenue and a huge dilution subsidy to security guards (aka miners). That really clicked with me, and is one of the reasons I'm with BitShares today.

 +5%

Because using the wrong metaphor enables those to make all sorts of irrational excuses as to why their investment is losing money....
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Offline robrigo

Re: Better than Bitcoin Interview with Bit N Mortar
« Reply #10 on: October 13, 2014, 10:44:08 PM »
Considering BTC as a "cryptocurrency" is a misnomer for the reasons stated above as well as the fact that a useful function of currency is the property of being a stable store of value- which BTC obviously lacks.

Offline onceuponatime

Re: Better than Bitcoin Interview with Bit N Mortar
« Reply #11 on: October 13, 2014, 11:21:22 PM »
Wow Brian! You hit it out of the park with this interview. I'm very impressed and grateful.

Offline starspirit

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Re: Better than Bitcoin Interview with Bit N Mortar
« Reply #12 on: October 13, 2014, 11:29:10 PM »
Considering BTC as a "cryptocurrency" is a misnomer for the reasons stated above as well as the fact that a useful function of currency is the property of being a stable store of value- which BTC obviously lacks.
In my view nobody yet has stated a logical reason why BTC is not or cannot be a currency, but that of course is just my view. Though I think its an argument that might work for some people, I'm still not seeing its relevance. BitUSD can be compared to BTC, with the benefit of stability etc. Bitshares is a different beast designed to make profit for owners and not be used for trade, it just uses the same block chain technology. Hmmm, you see how distracting this can all be? But all this is a minor point, it really was a brilliant presentation.

Offline bytemaster

Re: Better than Bitcoin Interview with Bit N Mortar
« Reply #13 on: October 13, 2014, 11:53:51 PM »
Considering BTC as a "cryptocurrency" is a misnomer for the reasons stated above as well as the fact that a useful function of currency is the property of being a stable store of value- which BTC obviously lacks.
In my view nobody yet has stated a logical reason why BTC is not or cannot be a currency, but that of course is just my view. Though I think its an argument that might work for some people, I'm still not seeing its relevance. BitUSD can be compared to BTC, with the benefit of stability etc. Bitshares is a different beast designed to make profit for owners and not be used for trade, it just uses the same block chain technology. Hmmm, you see how distracting this can all be? But all this is a minor point, it really was a brilliant presentation.

Anything can be a currency...  a currency is how something is used.   So the question is... what is bitcoin...  it is shares in an unprofitable company being used as a currency.
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Offline Pheonike

Re: Better than Bitcoin Interview with Bit N Mortar
« Reply #14 on: October 13, 2014, 11:57:37 PM »
In order to compare cryptos you need a frame of reference that allows you compare and contrast features and to determine value. That frame of reference is dependent on what your goals are for that crypto. Is the a company a perfect methaphor? No. But it gives us a set of metrics by which we can compare and contrast different functions. Since there is no uniform definition of what cryptos are yet, we have to use what we are already familiar with in order to describe them. I for one believe the company metaphor is accurate enough to compare and contrast if the goal of the comparison is decide if a crypto is economically feasible to exist. For some that is not the goal so this metaphor does not work for them.

 

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