BitShares Forum
Main => General Discussion => Topic started by: robrigo on November 24, 2014, 11:36:35 pm
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In an effort to promote BitShares to the crypto enthusiast demographic, I would like to register a BitShares virtual booth for the CME Virtual Conference (http://www.cryptomoneyexpo.com/expos/inv2/).
To register for 2 BTC, we need a video, website, and logo. To reduce that cost to 1 BTC, we can also submit a video pitching BitShares (minimum of 10 minutes) which will be featured. Max has agreed to do the pitch video. Thanks Max!
Booth resources
Video: http://youtu.be/XaY_KIsouTY
Website: bitshares.org
Logo:
(https://lh6.googleusercontent.com/-Y0AntKWoAlY/AAAAAAAAAAI/AAAAAAAAAL4/2f0-ifcuBVM/photo.jpg)
Please post here if you would be willing to contribute to the 1 BTC fee needed to cover this. I will then take the number of contributors and divide 1 BTC by that number to determine the amount needed from each contributor to cover the cost. Also, if you have feedback about regarding changes to the resources to submit please mention that as well.
I'll start this off by saying I am willing to contribute to the fee.
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I am willing to contribute to the fee.
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HPenvy .1 BTC
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Sure I'd love to help with the fee. (Count me as 1.5 person if you take bitBTC)
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I'll chip in as well!
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Count me in :)
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In an effort to promote BitShares to the crypto enthusiast demographic, I would like to register a BitShares virtual booth for the CME Virtual Conference (http://www.cryptomoneyexpo.com/expos/inv2/).
To register for 2 BTC, we need a video, website, and logo. To reduce that cost to 1 BTC, we can also submit a video pitching BitShares (minimum of 10 minutes) which will be featured. Max has agreed to do the pitch video. Thanks Max!
Booth resources
Video: http://youtu.be/XaY_KIsouTY
Website: bitshares.org
Logo:
(https://lh6.googleusercontent.com/-Y0AntKWoAlY/AAAAAAAAAAI/AAAAAAAAAL4/2f0-ifcuBVM/photo.jpg)
Please post here if you would be willing to contribute to the 1 BTC fee needed to cover this. I will then take the number of contributors and divide 1 BTC by that number to determine the amount needed from each contributor to cover the cost. Also, if you have feedback about regarding changes to the resources to submit please mention that as well.
I'll start this off by saying I am willing to contribute to the fee.
Any update?
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Based on the contributors that posted in this thread, the current cost is 0.16666667 BTC per. I don't mind paying the remainder for those who would like to only contribute 0.1 BTC.
Here's the Media Kit the organizer linked to me: http://cryptomoneyexpo.com/expos/inv2/Cryptomoneyexpo_Sponsorship_offer.pdf
It seems we are getting a pretty good deal at 1 BTC compared to the costs they advertise in that PDF. I assume this is because they are trying to fill the vacant slots before the deadline on Dec. 1st plus due to the fact that we are going to provide a "featured" BitShares pitch. I'd like to use the BitShares TV video Max produced but I will follow up with him on that to confirm in case he isn't ready to release it into the wild yet.
The virtual booth requirements from the PDF:
1) Company Name
BitShares
2) Company Description
This needs to be written yet... I'm thinking we should focus the description on the utility of BitAssets.
3) Roll Up URL
Not sure if our booth has one of these yet or what size image they are looking for but I will follow up and see. Will probably use the "B" logo here if we need to provide this resource.
4) Video URL
This video is kind of out of date but I think it's really all we have to roll with in the short time before this expo. I think the featured pitch video we are providing will be more effective anyways so this is just "filler" imo.
http://youtu.be/XaY_KIsouTY
5) Brochure Name
DPOS / TITAN infographics? We could combine them both by stacking them so we can hand them one link.
6) Brochure URL
Nothing yet.
7) Big Logo URL [400x400]
(http://i.imgur.com/aHQcmWy.png)
8) Logo List URL [69x130]
(http://i.imgur.com/vAeKmcl.png)
9) Rollup Small URL [100x50]
(http://i.imgur.com/1Ng0LL1.png)
I resized some logos I could find, which caused them to become distorted. Definitely would like to unjankify them before we hand them over!
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"...the current cost is 0.16666667 BTC..."
Yes, I am willing to pay this amount. I didn't see an address to send to? I assume you are going to accumulate the funds in your address and then forward the full amount to the organizers?
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"...the current cost is 0.16666667 BTC..."
Yes, I am willing to pay this amount. I didn't see an address to send to? I assume you are going to accumulate the funds in your address and then forward the full amount to the organizers?
I was holding off on collecting contributions until I was sure all of the contributors that want to pitch in had said so and I finalized the booth setup. I have no problem covering the cost and collecting the contributions afterward. I'll update this thread after the booth is finalized with the address to forward your contribution on to. Thanks!
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I think if you would move this thread to general discussion we would have more people show interest. Not many check marketing section. I go to marketing once a week, but check general discussion every day. By the way I don't mind paying 0.1666667 :)
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I think if you would move this thread to general discussion we would have more people show interest. Not many check marketing section. I go to marketing once a week, but check general discussion every day. By the way I don't mind paying 0.1666667 :)
Agreed. Would be great to move this thread to General Discussion for the next two days.
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Good idea. I'll ask a mod to move this thread to general so I don't have to make a duplicate post.
Please send contributions to 14CL3ATQ46SBMetCvQniUCr4HsjuRH2UmV and I will send them on to the event organizer on Monday with the rest of the booth information.
Media kit: http://cryptomoneyexpo.com/expos/inv2/Cryptomoneyexpo_Sponsorship_offer.pdf
TODO List:
1) We can have 2 "staff members" at our booth. I am fine with being one of them. If someone else wants to volunteer for the other position that would be great.
2) Write up a concise company description to provide with the booth.
3) Play around with image sizing to fix logo distortion. See: https://bitsharestalk.org/index.php?topic=11698.msg155708#msg155708
4) Waiting on the organizer to answer some of the following Q's:
For the 1 BTC booth, do we need to provide Rollup / Logo List / Rollup Small images?
Also, is it possible to provide you with 2 separate infographics to use for our brochure?
Should I put the website URL in the company description?
Is the Video URL separate from the featured pitch we are providing? Is a 30 minute video too long for the featured pitch?
Lastly I would like to draft a guideline for the "staff members" attending to pull content from for answering questions during the conference. That way we don't provide conflicting information.
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Date: 11/29/2014 11:26
To: Registration fee CME booth 14CL3ATQ46SBMetCvQniUCr4HsjuRH2UmV
Debit: -0.16666667 BTC
Transaction fee: -0.0001 BTC
Net amount: -0.16676667 BTC
Transaction ID: bcbb523857da7f826acf62c0d0c0ced8d44d1764e1d4b43ba8263508482f8ec5-000
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From BTC-E
-0.101 BTC Withdrawal BTC to address 14CL3ATQ46SBMetCvQniUCr4HsjuRH2UmV 29.11.14
21:09:04
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Sent 0.14125916 BTC
Unfortunately I have run out of BTC therefore not 0.1666667, but could send some BTS to make up for difference if you could let me me know BTS name/address. :)
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Sent 0.14125916 BTC
Unfortunately I have run out of BTC therefore not 0.1666667, but could send some BTS to make up for difference if you could let me me know BTS name/address. :)
Sent 0.1666667 - 0.14125916 = 0.02540754 BTC on your behalf :)
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Thank you everyone who has sent contributions! We are ~0.234 BTC away from covering the fee.
Please review and give feedback on the company description I drafted for our booth. I wanted to focus on BitAssets, and I figured it was okay to get technical considering the demographic. Feedback is appreciated.
Also, there is a 2000 character limit.
Are you a merchant that would like to accept cryptocurrencies directly without having to pay a third party service to mitigate risk due to volatile prices? Perhaps you are a trader and would like the ability to hedge without exiting to fiat currency. Or maybe you seek peace of mind, and would like to keep your savings safe from unexplained seizures by the IRS.
BitShares (BTS) provides the solutions to these problems by leveraging a new technology called BitAssets. A BitAsset is a first order derivative that tracks the price of a particular currency or commodity, such as the USD, CNY, EURO, or GOLD. This mechanism is known as the market peg, and is maintained by establishing a Nash Equilibrium between traders to trade around the real price of the commodity. These assets such as bitUSD for example, are issued on the decentralized exchange that exists directly on the BitShares blockchain. Issuance occurs when an order is matched between a short order and the bitUSD buyer (long position), "minting" the bitUSD into existence backed by at least 3x the value in BTS as collateral. The collateral is "locked up" on the blockchain, becoming freed when the short position is covered. Covering effectively destroys the bitUSD, removing it from circulation. The short can purchase the bitUSD and cover their position at anytime within 30 days. After 30 days, the short expires and is automatically covered. If the price of BTS falls relative to the USD such that 75% of the collateral stored would be required to buy back the bitUSD necessary to cover the position, a margin call is executed and the position is covered automatically. This ensures that the bitUSD in circulation is always fully backed by BTS as collateral. Holders of bitUSD and other BitAssets receive a variable % yield paid out of a reserve fund on the blockchain, funded by market fees.
BitShares provides the services of a decentralized bank, exchange, and derivatives market all on one blockchain.
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Thank you everyone who has sent contributions! We are ~0.234 BTC away from covering the fee.
Please review and give feedback on the company description I drafted for our booth. I wanted to focus on BitAssets, and I figured it was okay to get technical considering the demographic. Feedback is appreciated.
Also, there is a 2000 character limit.
Are you a merchant that would like to accept cryptocurrencies directly without having to pay a third party service to mitigate risk due to volatile prices? Perhaps you are a trader and would like the ability to hedge without exiting to fiat currency. Or maybe you seek peace of mind, and would like to keep your savings safe from unexplained seizures by the IRS.
BitShares (BTS) provides the solutions to these problems by leveraging a new technology called BitAssets. A BitAsset is a first order derivative that tracks the price of a particular currency or commodity, such as the USD, CNY, EURO, or GOLD. This mechanism is known as the market peg, and is maintained by establishing a Nash Equilibrium between traders to trade around the real price of the commodity. These assets such as bitUSD for example, are issued on the decentralized exchange that exists directly on the BitShares blockchain. Issuance occurs when an order is matched between a short order and the bitUSD buyer (long position), "minting" the bitUSD into existence backed by at least 3x the value in BTS as collateral. The collateral is "locked up" on the blockchain, becoming freed when the short position is covered. Covering effectively destroys the bitUSD, removing it from circulation. The short can purchase the bitUSD and cover their position at anytime within 30 days. After 30 days, the short expires and is automatically covered. If the price of BTS falls relative to the USD such that 75% of the collateral stored would be required to buy back the bitUSD necessary to cover the position, a margin call is executed and the position is covered automatically. This ensures that the bitUSD in circulation is always fully backed by BTS as collateral. Holders of bitUSD and other BitAssets receive a variable % yield paid out of a reserve fund on the blockchain, funded by market fees.
BitShares provides the services of a decentralized bank, exchange, and derivatives market all on one blockchain.
I have attempted an edit:
Are you:
- a merchant wanting to accept cryptocurrencies directly without having to pay a third party service to mitigate the risk of volatile prices?
- a trader wanting the ability to hedge without exiting to a fiat currency?
- or are you simply seeking peace of mind, wanting to keep your savings safe from unexplained seizures by IRS/Banks/Government?
BitShares (BTS) provides solutions to these problems, leveraging a new technology called BitAssets. A BitAsset is a first order derivative that tracks the price of a particular currency or commodity, such as the USD, CNY, EURO, or GOLD. The mechanism is known as the "market peg", and is maintained by establishing a Nash Equilibrium between traders to trade around the real price of the commodity. These assets, bitUSD for example, are issued on the decentralized exchange existing directly on the BitShares blockchain.
Asset issuance happens when matching occurs between a short order and a bitUSD buyer (long position), "minting" the bitUSD into existence backed by at least 3x the value in BTS as collateral. The collateral is "locked up" on the blockchain, to be freed when the short position is covered. Covering effectively destroys the bitUSD, removing it from circulation. A short can purchase the bitUSD and cover its position at anytime within 30 days. After 30 days, the short expires and is automatically covered. If the price of BTS falls relative to the USD to the extent that 75% of the collateral stored would be required to buy back the bitUSD necessary to cover the position, a margin call will be executed and the position covered automatically. This ensures that bitUSD in circulation is always fully collateralized. Holders of bitUSD and other BitAssets receive a variable % yield paid out of a reserve fund on the blockchain, funded by market fees.
Thus BitShares provides the services of a decentralized bank, exchange, and derivatives market all on one blockchain.
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Sent 0.14125916 BTC
Unfortunately I have run out of BTC therefore not 0.1666667, but could send some BTS to make up for difference if you could let me me know BTS name/address. :)
Sent 0.1666667 - 0.14125916 = 0.02540754 BTC on your behalf :)
Thanks :)
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I'm also in with 0.1 btc. Where should I send it?
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I'm also in with 0.1 btc. Where should I send it?
Re: Registration Fee for CME Virtual Conference Booth
« Reply #12 on: November 29, 2014, 05:45:59 PM »
Good idea. I'll ask a mod to move this thread to general so I don't have to make a duplicate post.
Please send contributions to 14CL3ATQ46SBMetCvQniUCr4HsjuRH2UmV and I will send them on to the event organizer on Monday with the rest of the booth information.
Media kit: http://cryptomoneyexpo.com/expos/inv2/Cryptomoneyexpo_Sponsorship_offer.pdf
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Thank you everyone who has sent contributions! We are ~0.234 BTC away from covering the fee.
Please review and give feedback on the company description I drafted for our booth. I wanted to focus on BitAssets, and I figured it was okay to get technical considering the demographic. Feedback is appreciated.
Also, there is a 2000 character limit.
Are you a merchant that would like to accept cryptocurrencies directly without having to pay a third party service to mitigate risk due to volatile prices? Perhaps you are a trader and would like the ability to hedge without exiting to fiat currency. Or maybe you seek peace of mind, and would like to keep your savings safe from unexplained seizures by the IRS.
BitShares (BTS) provides the solutions to these problems by leveraging a new technology called BitAssets. A BitAsset is a first order derivative that tracks the price of a particular currency or commodity, such as the USD, CNY, EURO, or GOLD. This mechanism is known as the market peg, and is maintained by establishing a Nash Equilibrium between traders to trade around the real price of the commodity. These assets such as bitUSD for example, are issued on the decentralized exchange that exists directly on the BitShares blockchain. Issuance occurs when an order is matched between a short order and the bitUSD buyer (long position), "minting" the bitUSD into existence backed by at least 3x the value in BTS as collateral. The collateral is "locked up" on the blockchain, becoming freed when the short position is covered. Covering effectively destroys the bitUSD, removing it from circulation. The short can purchase the bitUSD and cover their position at anytime within 30 days. After 30 days, the short expires and is automatically covered. If the price of BTS falls relative to the USD such that 75% of the collateral stored would be required to buy back the bitUSD necessary to cover the position, a margin call is executed and the position is covered automatically. This ensures that the bitUSD in circulation is always fully backed by BTS as collateral. Holders of bitUSD and other BitAssets receive a variable % yield paid out of a reserve fund on the blockchain, funded by market fees.
BitShares provides the services of a decentralized bank, exchange, and derivatives market all on one blockchain.
I have attempted an edit:
Are you:
- a merchant wanting to accept cryptocurrencies directly without having to pay a third party service to mitigate the risk of volatile prices?
- a trader wanting the ability to hedge without exiting to a fiat currency?
- or are you simply seeking peace of mind, wanting to keep your savings safe from unexplained seizures by IRS/Banks/Government?
BitShares (BTS) provides solutions to these problems, leveraging a new technology called BitAssets. A BitAsset is a first order derivative that tracks the price of a particular currency or commodity, such as the USD, CNY, EURO, or GOLD. The mechanism is known as the "market peg", and is maintained by establishing a Nash Equilibrium between traders to trade around the real price of the commodity. These assets, bitUSD for example, are issued on the decentralized exchange existing directly on the BitShares blockchain.
Asset issuance happens when matching occurs between a short order and a bitUSD buyer (long position), "minting" the bitUSD into existence backed by at least 3x the value in BTS as collateral. The collateral is "locked up" on the blockchain, to be freed when the short position is covered. Covering effectively destroys the bitUSD, removing it from circulation. A short can purchase the bitUSD and cover its position at anytime within 30 days. After 30 days, the short expires and is automatically covered. If the price of BTS falls relative to the USD to the extent that 75% of the collateral stored would be required to buy back the bitUSD necessary to cover the position, a margin call will be executed and the position covered automatically. This ensures that bitUSD in circulation is always fully collateralized. Holders of bitUSD and other BitAssets receive a variable % yield paid out of a reserve fund on the blockchain, funded by market fees.
Thus BitShares provides the services of a decentralized bank, exchange, and derivatives market all on one blockchain.
+5%
Clear and concise, and also (hopefully) will help me to be more so when explaining bitshares.
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Thank you everyone who has sent contributions! We are ~0.234 BTC away from covering the fee.
Please review and give feedback on the company description I drafted for our booth. I wanted to focus on BitAssets, and I figured it was okay to get technical considering the demographic. Feedback is appreciated.
Also, there is a 2000 character limit.
Are you a merchant that would like to accept cryptocurrencies directly without having to pay a third party service to mitigate risk due to volatile prices? Perhaps you are a trader and would like the ability to hedge without exiting to fiat currency. Or maybe you seek peace of mind, and would like to keep your savings safe from unexplained seizures by the IRS.
BitShares (BTS) provides the solutions to these problems by leveraging a new technology called BitAssets. A BitAsset is a first order derivative that tracks the price of a particular currency or commodity, such as the USD, CNY, EURO, or GOLD. This mechanism is known as the market peg, and is maintained by establishing a Nash Equilibrium between traders to trade around the real price of the commodity. These assets such as bitUSD for example, are issued on the decentralized exchange that exists directly on the BitShares blockchain. Issuance occurs when an order is matched between a short order and the bitUSD buyer (long position), "minting" the bitUSD into existence backed by at least 3x the value in BTS as collateral. The collateral is "locked up" on the blockchain, becoming freed when the short position is covered. Covering effectively destroys the bitUSD, removing it from circulation. The short can purchase the bitUSD and cover their position at anytime within 30 days. After 30 days, the short expires and is automatically covered. If the price of BTS falls relative to the USD such that 75% of the collateral stored would be required to buy back the bitUSD necessary to cover the position, a margin call is executed and the position is covered automatically. This ensures that the bitUSD in circulation is always fully backed by BTS as collateral. Holders of bitUSD and other BitAssets receive a variable % yield paid out of a reserve fund on the blockchain, funded by market fees.
BitShares provides the services of a decentralized bank, exchange, and derivatives market all on one blockchain.
I have attempted an edit:
Are you:
- a merchant wanting to accept cryptocurrencies directly without having to pay a third party service to mitigate the risk of volatile prices?
- a trader wanting the ability to hedge without exiting to a fiat currency?
- or are you simply seeking peace of mind, wanting to keep your savings safe from unexplained seizures by IRS/Banks/Government?
BitShares (BTS) provides solutions to these problems, leveraging a new technology called BitAssets. A BitAsset is a first order derivative that tracks the price of a particular currency or commodity, such as the USD, CNY, EURO, or GOLD. The mechanism is known as the "market peg", and is maintained by establishing a Nash Equilibrium between traders to trade around the real price of the commodity. These assets, bitUSD for example, are issued on the decentralized exchange existing directly on the BitShares blockchain.
Asset issuance happens when matching occurs between a short order and a bitUSD buyer (long position), "minting" the bitUSD into existence backed by at least 3x the value in BTS as collateral. The collateral is "locked up" on the blockchain, to be freed when the short position is covered. Covering effectively destroys the bitUSD, removing it from circulation. A short can purchase the bitUSD and cover its position at anytime within 30 days. After 30 days, the short expires and is automatically covered. If the price of BTS falls relative to the USD to the extent that 75% of the collateral stored would be required to buy back the bitUSD necessary to cover the position, a margin call will be executed and the position covered automatically. This ensures that bitUSD in circulation is always fully collateralized. Holders of bitUSD and other BitAssets receive a variable % yield paid out of a reserve fund on the blockchain, funded by market fees.
Thus BitShares provides the services of a decentralized bank, exchange, and derivatives market all on one blockchain.
Thanks for cleaning it up! I'm going to submit your version... it flows better.
I'm also in with 0.1 btc. Where should I send it?
Thanks Delulo. I've covered the remaining amount to register so this helps! You can send it to 14CL3ATQ46SBMetCvQniUCr4HsjuRH2UmV.
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Sent the registration fee and submitted the assets.
I hope to see some of the other members of this fine community drop in to represent BTS!
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Sent the registration fee and submitted the assets.
I hope to see some of the other members of this fine community drop in to represent BTS!
Instructions for "dropping in"?
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Sent the registration fee and submitted the assets.
I hope to see some of the other members of this fine community drop in to represent BTS!
Instructions for "dropping in"?
I think you just need to register and then a link to the expo will be provided in an email later: http://www.cryptomoneyexpo.com/expos/inv2/
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Which of the four events do I need to register for?
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Still need donations for the fee?
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Still need donations for the fee?
robrigo has registered the event in https://bitsharestalk.org/index.php?topic=11698.msg156648#msg156648
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Which of the four events do I need to register for?
Linking directly to the registration page is broken apparently, I updated the link. All you'll have to do is click the "Sign up / Register" button here: http://www.cryptomoneyexpo.com/expos/inv2/
Still need donations for the fee?
Donations are appreciated, I ended up covering an additional ~0.2233 BTC on top of the 0.16666667 BTC to expedite the registration, so any additional contributions will help me offset that.
Thanks!
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Which of the four events do I need to register for?
Linking directly to the registration page is broken apparently, I updated the link. All you'll have to do is click the "Sign up / Register" button here: http://www.cryptomoneyexpo.com/expos/inv2/
Still need donations for the fee?
Donations are appreciated, I ended up covering an additional ~0.2233 BTC on top of the 0.16666667 BTC to expedite the registration, so any additional contributions will help me offset that.
Thanks!
OK will send you 0.1 BTC later!
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Which of the four events do I need to register for?
Linking directly to the registration page is broken apparently, I updated the link. All you'll have to do is click the "Sign up / Register" button here: http://www.cryptomoneyexpo.com/expos/inv2/
Still need donations for the fee?
Donations are appreciated, I ended up covering an additional ~0.2233 BTC on top of the 0.16666667 BTC to expedite the registration, so any additional contributions will help me offset that.
Thanks!
OK will send you 0.1 BTC later!
Done!
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Which of the four events do I need to register for?
Linking directly to the registration page is broken apparently, I updated the link. All you'll have to do is click the "Sign up / Register" button here: http://www.cryptomoneyexpo.com/expos/inv2/
Still need donations for the fee?
Donations are appreciated, I ended up covering an additional ~0.2233 BTC on top of the 0.16666667 BTC to expedite the registration, so any additional contributions will help me offset that.
Thanks!
OK will send you 0.1 BTC later!
Done!
Thanks!
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Sent the registration fee and submitted the assets.
I hope to see some of the other members of this fine community drop in to represent BTS!
Instructions for "dropping in"?
I think you just need to register and then a link to the expo will be provided in an email later: http://www.cryptomoneyexpo.com/expos/inv2/
I registered but haven't received an e-mail. Have you?
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Robrigo, I sent you a few BTS.
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Thank you everyone who has sent contributions! We are ~0.234 BTC away from covering the fee.
Please review and give feedback on the company description I drafted for our booth. I wanted to focus on BitAssets, and I figured it was okay to get technical considering the demographic. Feedback is appreciated.
Also, there is a 2000 character limit.
Are you a merchant that would like to accept cryptocurrencies directly without having to pay a third party service to mitigate risk due to volatile prices? Perhaps you are a trader and would like the ability to hedge without exiting to fiat currency. Or maybe you seek peace of mind, and would like to keep your savings safe from unexplained seizures by the IRS.
BitShares (BTS) provides the solutions to these problems by leveraging a new technology called BitAssets. A BitAsset is a first order derivative that tracks the price of a particular currency or commodity, such as the USD, CNY, EURO, or GOLD. This mechanism is known as the market peg, and is maintained by establishing a Nash Equilibrium between traders to trade around the real price of the commodity. These assets such as bitUSD for example, are issued on the decentralized exchange that exists directly on the BitShares blockchain. Issuance occurs when an order is matched between a short order and the bitUSD buyer (long position), "minting" the bitUSD into existence backed by at least 3x the value in BTS as collateral. The collateral is "locked up" on the blockchain, becoming freed when the short position is covered. Covering effectively destroys the bitUSD, removing it from circulation. The short can purchase the bitUSD and cover their position at anytime within 30 days. After 30 days, the short expires and is automatically covered. If the price of BTS falls relative to the USD such that 75% of the collateral stored would be required to buy back the bitUSD necessary to cover the position, a margin call is executed and the position is covered automatically. This ensures that the bitUSD in circulation is always fully backed by BTS as collateral. Holders of bitUSD and other BitAssets receive a variable % yield paid out of a reserve fund on the blockchain, funded by market fees.
BitShares provides the services of a decentralized bank, exchange, and derivatives market all on one blockchain.
I have attempted an edit:
Are you:
- a merchant wanting to accept cryptocurrencies directly without having to pay a third party service to mitigate the risk of volatile prices?
- a trader wanting the ability to hedge without exiting to a fiat currency?
- or are you simply seeking peace of mind, wanting to keep your savings safe from unexplained seizures by IRS/Banks/Government?
BitShares (BTS) provides solutions to these problems, leveraging a new technology called BitAssets. A BitAsset is a first order derivative that tracks the price of a particular currency or commodity, such as the USD, CNY, EURO, or GOLD. The mechanism is known as the "market peg", and is maintained by establishing a Nash Equilibrium between traders to trade around the real price of the commodity. These assets, bitUSD for example, are issued on the decentralized exchange existing directly on the BitShares blockchain.
Asset issuance happens when matching occurs between a short order and a bitUSD buyer (long position), "minting" the bitUSD into existence backed by at least 3x the value in BTS as collateral. The collateral is "locked up" on the blockchain, to be freed when the short position is covered. Covering effectively destroys the bitUSD, removing it from circulation. A short can purchase the bitUSD and cover its position at anytime within 30 days. After 30 days, the short expires and is automatically covered. If the price of BTS falls relative to the USD to the extent that 75% of the collateral stored would be required to buy back the bitUSD necessary to cover the position, a margin call will be executed and the position covered automatically. This ensures that bitUSD in circulation is always fully collateralized. Holders of bitUSD and other BitAssets receive a variable % yield paid out of a reserve fund on the blockchain, funded by market fees.
Thus BitShares provides the services of a decentralized bank, exchange, and derivatives market all on one blockchain.
Thanks for cleaning it up! I'm going to submit your version... it flows better.
I'm also in with 0.1 btc. Where should I send it?
Thanks Delulo. I've covered the remaining amount to register so this helps! You can send it to 14CL3ATQ46SBMetCvQniUCr4HsjuRH2UmV.
Sent!
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Robrigo, I sent you a few BTS.
...
Sent!
Thanks for helping get the word out about BitShares. We're all set for contributions now.
The interview between bytemaster and bitmarket will be streamed in a 30 minute slot at the end of the agenda on Friday. The booth will be active for the whole day.