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General Discussion / bitshares 101 -
« on: August 20, 2019, 09:46:08 am »
"Talk without the support of action means nothing."
― DaShanne Stokes

I bought

This is a post to understand 2 specific questions:

1) Are my ideas aligned with what the community wants?

2) Is there room to support the initiative with worker funds?

My personal conclusion is that BitShares will gain network effect by targeting developers. Empowering the creation of products that will alone bring real users.

The concept for decentralized finance (#defi) is new for crypto users but the adoption is at a high pace. Simple products that remove technicalities and focus on the most needed requests.

The mechanics to enable them have been available for years. But the "hockey stick" adoption curve is only recent.

Compound is an algorithmic money market protocol on Ethereum that lets users earn interest or borrow assets against collateral.

The How:
A `how-to` do it on BitShares approach. Educate on the available on-chain and off-chain features BitShares has currently working.

The Why:
Expand the #defi related talks to include BitShares. Detach it from ETH as the only capable blockchain.


General Discussion / bitshares 101 - Internet is dumb
« on: August 08, 2019, 12:28:27 pm »
The network, the protocol, the architecture. Not the users, they are using a tool to express, their dumbness is not a technology problem.

It works, don't get me wrong. Private companies lay the cables and lease the usage, that is faulty. The idea at that moment made sense. There was a telecommunication monopoly to break. Expand while incentivizing the business people to invest in the infrastructure. Let them take care of the final endpoints. Simplest business model: "Pay me and I will get your data into another point".

People are smart even if the underlying protocol is not. New revenue models appeared: "Pay me while I check your data, resell it and then get it into another point".

Internet is dumb not because it lacks "smart contracts". It is not meant to be intelligent, it needs to transport information. Web data centers offer you 99.9% uptime. Isn't bitcoin uptime for 10 years 100%?

There is no single point of failure on a decentralized blockchain. There is no way around that. When you get protocols looking like blockchains, check the simplest fact.

How decentralized is it? 


General Discussion / bitshares 101 - Under attack
« on: August 07, 2019, 12:14:06 pm »
BitShares has been under attack

While most were still copy-pasting their whitepapers BitShares was functional on mainnet.

We are talking year 2014

As soon as these type of images started to circulate we became an easy target. Suffering the consequences of a cutting edge technology that deals with freedom & money. Both jeopardized by the concept behind the current disruptive technological movement: decentralization.

Like every industry, inferior but powerful players used effective ancient tools to battle. Manipulate the herd, fill them up with fear. 

Here comes the counter-attack

BitShares did not defend because it thought people would look past the obvious lies. Reality shows that history is littered with technically superior products that failed to speak the herd language.

Our decentralized nature, the real one, makes us look slow on reactions. I would say we are solid. Consensus is not about 1-second confirmations but agreements on the best achievable solution. Do we agree that we have a superior working technology backed by a power idea?

BitShares: A Decentralized Autonomous Company (DAC). A for-profit business that happens to be running on a blockchain.


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