BitShares Forum

From your Mighty Master of Mixed Metaphors...



BitShares was "sharedropped (https://bitsharestalk.org/index.php?topic=14019.msg182306#msg182306)" into existence by dacsunlimited.com who merely recommended a publicly defined distribution list specifying a targeted demographic of other coin users (BTC and PTS). Anyone could download DAC Sun's custom version of BitShares's public domain software and claim any free tokens to which they already held the keys.  The first person to run that free software launched a new blockchain and others then joined in to form a new peer to peer network among themselves based on their shared consensus that DAC Sun's software would regulate their interactions with each other.

The resulting asset, BitShares, trades as an ordinary crypto-currency on several ordinary crypto exchanges just like Bitcoin.  As a second-generation "smart coin" it supports an enhanced set of transaction types that affect how and when the internal bookkeeping tokens are transferred among users of the distributed software according to a fixed and transparent set of rules.  External third party applications analogous to specialized bitcoin wallets use those underlying transaction types to implement whatever metaphor the application designer thinks will be useful for helping ordinary folks take advantage of these new transaction types.

• Some of these third party applications use the Bitcoin wallet metaphor (aka "skin") because that is familiar to the Bitcoin community.
  
• Others use the skin metaphor of a decentralized exchange - because that is the easiest way to visualize and specify certain transaction types.
  
• Others are planned to look like checkbooks or on-line bank accounts because many consumers are familiar with thinking that way.
  
• To some, it will have an uncanny resemblance to a public voting booth.
  
• Some interfaces won't use a computer at all - you'll have an ordinary debit card that you load and spend like any other.
  

But under it all, BitShares is just an (extra)ordinary second-generation crypto-currency with many 3rd party "skins" to help different types of people use it more effectively.

Owners of BitShares tokens get to elect service providers who represent that they are legally able to perform certain unregulated functions in their jurisdictions.  These are very simple everyday functions, like notarizing (signing) digital documents, providing public data feeds, and writing open source software.  But there is no human corporate structure in any jurisdiction that owns or controls it. 

Thus, BitShares is merely a transparent public ledger that exhibits a different customized emergent behavior made manifest to each individual depending upon the set of software that individual uses to interact with it.

so , long story short :

blacksburg just developed the software .

And blacksburg team is not the owner or maintainer of the BitShares system or the ledger itself .

And most importantly , any government on earth who have noticed BitShares shouldn't be looking at the blacksburg team or I3 for any issue  .  :P

 +5% +5%

Excellent job Stan. We need more forward thinking inspirational posts like this. It helps to attract new people to good ideas.

Quote from: btswildpig on April 01, 2015, 05:51:43 PM
so , long story short :
blacksburg just developed the software .
And blacksburg team is not the owner or maintainer of the BitShares system or the ledger itself .
And most importantly , any government on earth who have noticed BitShares shouldn't be looking at the blacksburg team or I3 for any issue  .  :P

Quote
The theoretical astrophysicist, Professor Stephen Hawking of Cambridge University, in his best-selling book A Brief History of Time, claimed that his big-bang theory was "in agreement with all the observational evidence that we have today." In the introduction to that book, one of America's leading astrophysicists of the day, the late Professor Carl Sagan of Cornell University, said, "This book is also about God . . . or perhaps the absence of God . . . a universe with no edge in space and no beginning or end in time, and nothing for a Creator to do."

Just like the universe, there is no indisputable evidence that BitShares even has a creator.   

I find it more convenient to believe it just spontaneously designed and coded itself.   ;)

This is your version of an april fools joke isnt it. :P

Coincidental but I was just this evening at a lecture about the origins of money and the thought was that while economists like to think of money as commodity, it is better to consider it an IOU. The thought was that money arose from allowing people credit and then money found its role as IOU.. emerging from commerce that would naturally be occurring. That rather than the common notion that it necessarily arose from bartering. I suspect there are important reasons to confirm the nature of what a money is that hark back to the legal status of money as we have known it but crypto-currency is what it is and those legal frameworks need to evolve to fully appreciate its potential. The promise to pay what, is rather abstracted and bound to the community seeing value but the more concrete it can be made, the more basis for confidence that tomorrow it will retain the value it has today, or some relative variation on that that is not disappeared.

Quote from: davidpbrown on April 01, 2015, 09:58:11 PM
Coincidental but I was just this evening at a lecture about the origins of money and the thought was that while economists like to think of money as commodity, it is better to consider it an IOU. The thought was that money arose from allowing people credit and then money found its role as IOU.. emerging from commerce that would naturally be occurring. That rather than the common notion that it necessarily arose from bartering. I suspect there are important reasons to confirm the nature of what a money is that hark back to the legal status of money as we have known it but crypto-currency is what it is and those legal frameworks need to evolve to fully appreciate its potential. The promise to pay what, is rather abstracted and bound to the community seeing value but the more concrete it can be made, the more basis for confidence that tomorrow it will retain the value it has today, or some relative variation on that that is not disappeared.

A currency is a specialized language for communicating about value, and its scarcity acts as a guard against deception.