I've collected everything I'm trying to say in one post to make replying easier.
Thanks for the answers and patience from Stan and others. I'm arguing with you guys because I think this is a *really* important issue and that you haven't realized how much confusion it could cause.
Please tell me what the new names are for ALL of these concepts. They should have clear names and should be overloaded
only if the terms can only appear in different contexts.
If you find this challenging, don't go ahead with this re-branding until we figure everything out.Names:
1) What was formerly known as BitShares, the awesome innovation that is the distributed-prediction-market-based polymorphic digital asset exchange
2) The core asset in the original BitShares chain, formerly BTS
3) The whole system of prediction-market-based exchanges
4) An arbitrary new instance of (1), which is a part of (3)
5) An arbitrary new core asset, the core asset of a (4)
6) An invictus-endorsed crypto-equity (the NEW BitShares)
(my answers after my moment of clarity are: 1) BEX for the concept as a whole, BEXCurrency for the root chain 2) BEX 3) BEX 4) BEX***, BEXchain 5) BEX***Share 6) BitShares )
(second point of confusion: do non-primary chains have *separate* base units, like BEXStockShares? or do BEX aka BitShares1.0 units get transferred into the new chain?)
And, on top of that naming challenge, a question: Could there possibly be a DAC you release whose equity you do NOT call a BitShare? If so, give an example; if not, acknowledge that "BitShares" is essentially the new name for "I3 DAC".
Put another way: bitshares are a sub-thing of i3 DACs. What kinds of DACs might you make that aren't a sub-thing of bitshares?
This is important too
Keyhotee is not a DAC
I understand. I'm asking, is there anything that would be a DAC, but would not be a BitShare, under the new scheme.
It is already getting a lot of attention and it has a nice parallelism with Bitcoin, which in the public mind has become virtually synonymous with the crypto-currency ecosystem, including all its altcoins. We hope that BitShares will serve a similar function for the crypto-equity domain.
This is for one very simple reason: bit-shares is the perfect parallel to bit-coin for communicating the duality (and differences) and between crypto-equities and crypto-currencies. No other name would do for that purpose.
But "bitcoin" doesn't mean "cryptocurrency"! Nobody says "litecoin and peercoin are two examples of bitcoins".
You are making the analogy to bitcoin LESS applicable. bitcoin:currency::bitshares:equity worked better for the OLD definition. You can't own a bitshare anymore, for example.