Have you guys noticed the theory behind SiliconValleyCoin?
They are doing a "helicopter air-drop" of their currency into certain "zip" mailing codes in Silicon Valley under the theory that it directs their shares into the hands of a demographic more likely to be good supporters of their currency.QuoteThis coin is Premined 50%. Silicon Valley Coin will serve as a bridge between Silicon Valley innovation and the Crypto Community effectively by distributing our premined coins to certain zip codes surrounding the big tech companies of Silicon Valley. The distribution of our coins to these zip codes will commence on April 25, 2014.(http://econintersect.com/images/2013/6/45943442helicopter-dropping-money.jpg)
Not knowing those coins – are you saying they have tanked because of the airdrop.
+- A month ago, Auroracoin's high was $800 million. Today?... It's worth $1.3 million. - A 99.8% shareholder loss.
+- A month ago, Stan excitedly drew our attention to -Have you guys noticed the theory behind SiliconValleyCoin?
They are doing a "helicopter air-drop" of their currency into certain "zip" mailing codes in Silicon Valley under the theory that it directs their shares into the hands of a demographic more likely to be good supporters of their currency.QuoteThis coin is Premined 50%. Silicon Valley Coin will serve as a bridge between Silicon Valley innovation and the Crypto Community effectively by distributing our premined coins to certain zip codes surrounding the big tech companies of Silicon Valley. The distribution of our coins to these zip codes will commence on April 25, 2014.(http://econintersect.com/images/2013/6/45943442helicopter-dropping-money.jpg)
+- A month ago, SiliconValleyCoin's high was $20 million. Today?... It's worth $4 417. (Also a 99.8% shareholder loss.)
_____
+- A month ago, Blackcoin was worth $250 000. With no airdrop and one clone-able new idea. Today?... They just overtook Bitshares-PTS. (*BC is volatile and I don't expect it to hold just making a point.)
I think that the current airdrops are failing because there are not well planned.
In order for the airdrop of a country coin to succeed I think that the devs will need to convience their investors for a long time (as Invictus is doing) that the intention is not for people to dump the coins when they receive it.
In order to do that you need to allocate i.e. x amount to investors who will fund the development like AGS style and will most likely not dump their coins and x amount to give away for free to the citizens and the merchants of the country.
I don't think there is any value if you promise to give away coins to people who have never heard of cryptocurrencies. The devs who do country coins airdrops should find one by one merchants and educate them first, help them istall any application they need give them shares of the future coin which will be able to claim at the end of the project.
I think that these kind of country DACs should be formed worldwide. It is not easy, it takes a lot of people in every country to get involved but it is not impossible...
I have imagined a future with many different country coins, that many merchants use in every country and all these coins are traded in Bitshares X. I think then we would have achieved the desired decentralisation of crypto currencies.
Not knowing those coins – are you saying they have tanked because of the airdrop.
SpainCoin achieved a high of $80 million and is now $20 000... (99.9% Shareholder loss)
MazaCoin achieved a high of $6 million and is now $140 000... (97.5% Shareholder loss)
Perhaps. It could be some evidence that targeted airdrops are over-valued/over-rated.
(http://1.bp.blogspot.com/_b6CLevEGCD0/RvHi01kG8cI/AAAAAAAAAHc/F6kwW2C_-nw/s400/bernanke_helicopter_gift.jpg)
This is why I said the focus should be on social entrepreneurs and others who actually might want to use the technology but don't know what it is...
That is why I said use airdrops to promote strategic alliances.
6000 people we will not be able to do very much compared to millions of social entrepreneurs. Get those millions of social entrepreneurs to hear about Bitshares...
Offer crypto equity via an airdrop to registered entrepreneurs...
An industry requires entrepreneurs. Auroracoin didn't court entrepreneurs...
Entrepreneurship is the process of identifying and starting a business venture, sourcing and organizing the required resources and taking both the risks and rewards associated with the venture
You still don't get it. Do you want to build a product or bootstrap an industry?
This is why I said the focus should be on social entrepreneurs and others who actually might want to use the technology but don't know what it is...
That is why I said use airdrops to promote strategic alliances.
6000 people we will not be able to do very much compared to millions of social entrepreneurs. Get those millions of social entrepreneurs to hear about Bitshares...
Offer crypto equity via an airdrop to registered entrepreneurs...
An industry requires entrepreneurs. Auroracoin didn't court entrepreneurs...
http://en.wikipedia.org/wiki/EntrepreneurshipQuoteEntrepreneurship is the process of identifying and starting a business venture, sourcing and organizing the required resources and taking both the risks and rewards associated with the venture
To me strategic partnerships are where people contribute capital/work/ideas to gain equity.
If you build a good product & you promote it well, the customers will come rapidly.
In the real world I can't think of many success stories where a company promoted their product by giving away free equity in the valuable underlying company. Personally I think the evidence is starting to show that the world works the same in the crypto-economy.We are dealing with the digital world where your product can be forked. It's all about winning stakeholders and building community. If you build a big enough community of entrepreneurs that is your network effect. That is the only reason Bitcoin, Litecoin and Dogecoin do well. You have to actually win the social entrepreneurs above all else because they are the only kind of entrepreneur likely to understand what we are doing. Traditionally entrepreneurs don't understand why a DAC is needed because they aren't activists and aren't trying to do anything which is truly disruptive most of the time because if they did they might not get as much VC funding from Wall Street.
With 98%+ average shareholder losses from their highs, experienced by coins that have sought to give away 50% of their equity for free - I for one am fairly certain that that a clone which gave away 100% equity away for free is not the threat some scaremongers are attempting to make out.
Social entrepreneurship is the process of pursuing innovative solutions to social problems. More specifically, social entrepreneurs adopt a mission to create and sustain social value. They pursue opportunities to serve this mission, while continuously adapting and learning. They draw upon appropriate thinking in both the business and nonprofit worlds and operate in all kinds of organizations: large and small; new and old; religious and secular; nonprofit, for-profit, and hybrid.[1]http://en.wikipedia.org/wiki/Social_entrepreneurship
Business entrepreneurs typically measure performance in profit and return, but social entrepreneurs also take into account a positive return to society. Social entrepreneurship typically furthers broad social, cultural, and environmental goals and is commonly associated with the voluntary and not-for-profit sectors.[2] Profit can at times also be a consideration for certain companies or other enterprises.
Social entrepreneurship practiced in a world or international context is called international social entrepreneurship.[3]
You still don't get it. Do you want to build a product or bootstrap an industry?
What Bitcoin has done was possible only because you had tens of thousands of early adopters mining.
To create an ecosystem you need community, collaboration and strategic alliances.
We are dealing with the digital world where your product can be forked. It's all about winning stakeholders and building community. If you build a big enough community of entrepreneurs that is your network effect. That is the only reason Bitcoin, Litecoin and Dogecoin do well.
A few examples of social entrepreneurship so you can see the difference...
This is very important to remember. If you're getting rich while everyone around you is losing their jobs, homeless, and getting poor, those people someday will see these forum posts of ours and will not respect what we built.
So it's extremely important in my opinion, critical in fact, that social entrepreneurship be embraced from the start. If for example we know homelessness is a problem and will get worse, why not help people to use this technology to solve that problem?
If you're just trying to build Wall Street 2.0 that is easy, but don't be surprised if the Occupy protesters treat you as the banking new elite.
You still don't get it. Do you want to build a product or bootstrap an industry?
What Bitcoin has done was possible only because you had tens of thousands of early adopters mining.
To create an ecosystem you need community, collaboration and strategic alliances.
We are dealing with the digital world where your product can be forked. It's all about winning stakeholders and building community. If you build a big enough community of entrepreneurs that is your network effect. That is the only reason Bitcoin, Litecoin and Dogecoin do well.
Even 5 years in, 80% of Bitcoins are still owned by less than 10 000 people...
We haven't even released Bitshares X yet and I believe our community is in the thousands.
I'd rather attract people who want to contribute something to the community, than value Bitshares so little we give away shares in it for free.A few examples of social entrepreneurship so you can see the difference...
Thanks, yes my mistake, Social entrepreneurship is a bit different.This is very important to remember. If you're getting rich while everyone around you is losing their jobs, homeless, and getting poor, those people someday will see these forum posts of ours and will not respect what we built.
So it's extremely important in my opinion, critical in fact, that social entrepreneurship be embraced from the start. If for example we know homelessness is a problem and will get worse, why not help people to use this technology to solve that problem?
If you're just trying to build Wall Street 2.0 that is easy, but don't be surprised if the Occupy protesters treat you as the banking new elite.
Bitshares decentralised bank and exchange is offering a better solution to Wall Street & Central Banks. (Their biggest crime, imo, is constantly debasing the money supply, making their citizens poorer while telling them it's absolutely necessary and for their benefit.)
So personally I'm not sure if Bitshares X increasing the current money supply with the same reasoning is also the best marketing strategy either.
I think you may be misinformed. I never said increase the Bitshares supply. I never said what percentage should be distributed in airdrops or at what rate.
But you do have to continuously distribute to create a community of stakeholders.
You cannot expect to just build a product and for them to somehow find you without doing any marketing.
It's not a big deal to me if we give 1-5% away in airdrops. That's not a lot to spend for what you could gain in market cap as a result.
...For this reason we have decided to recommend that all future chains based upon the concept behind BitShares X be initialized with a snapshot (100%) of the state of BitShares XT around the time of their launch. Thus the primary vehicle for investing in future BitShares X chains will be to own BitShares XT.... likewise, chains that are variants of BitShares XI or XV should honor their parent with 100% stake
As we arrive at Espace I'm on the verge of tears as I'm certain we won't get a decent table. But we do; relief washes over me in an awesome wave.- Patrick Bateman
...For this reason we have decided to recommend that all future chains based upon the concept behind BitShares X be initialized with a snapshot (100%) of the state of BitShares XT around the time of their launch. Thus the primary vehicle for investing in future BitShares X chains will be to own BitShares XT.... likewise, chains that are variants of BitShares XI or XV should honor their parent with 100% stake
Just saw from above paragraph & from related thread that I was wrong about Bitshares X
https://bitsharestalk.org/index.php?topic=4168.0
It seems all DAC's based on Bitshares X concept are safe from airdrops. I was under the impression people were also discussing adding new shares onto that. Phew.QuoteAs we arrive at Espace I'm on the verge of tears as I'm certain we won't get a decent table. But we do; relief washes over me in an awesome wave.- Patrick Bateman
...For this reason we have decided to recommend that all future chains based upon the concept behind BitShares X be initialized with a snapshot (100%) of the state of BitShares XT around the time of their launch. Thus the primary vehicle for investing in future BitShares X chains will be to own BitShares XT.... likewise, chains that are variants of BitShares XI or XV should honor their parent with 100% stake
Just saw from above paragraph & from related thread that I was wrong about Bitshares X
https://bitsharestalk.org/index.php?topic=4168.0
It seems all DAC's based on Bitshares X concept are safe from airdrops. I was under the impression people were also discussing adding new shares onto that. Phew.QuoteAs we arrive at Espace I'm on the verge of tears as I'm certain we won't get a decent table. But we do; relief washes over me in an awesome wave.- Patrick Bateman
We need a FUD relief team
Sent from my SCH-I535 using Tapatalk