In order to compare cryptos you need a frame of reference that allows you compare and contrast features and to determine value. That frame of reference is dependent on what your goals are for that crypto. Is the a company a perfect methaphor? No. But it gives us a set of metrics by which we can compare and contrast different functions. Since there is no uniform definition of what cryptos are yet, we have to use what we are already familiar with in order to describe them. I for one believe the company metaphor is accurate enough to compare and contrast if the goal of the comparison is decide if a crypto is economically feasible to exist. For some that is not the goal so this metaphor does not work for them.

Quote from: tonyk on October 13, 2014, 09:51:04 pm

I still do not get basic premise - 'who does not care about money?'

The question isn't "who does not care about money?", it's "who would use BitUSD over fiatUSD and why?"

Quote from: Gonzo on October 09, 2014, 03:40:02 pm

Can you please refer to artist coin as artist shares?  It would be many times more sensible

they can't .. for legal reasons if I recall correctly ... shares have a legal implication while "coins" are much like baseball collection cards (citing cob here )

if we it wasn't for regulations I would totally agree!

Quote from: jsidhu on October 08, 2014, 02:53:05 pm

you could just do bitusd and get lower tx fees that way however going back to fiat would negate this thus they would need to stay in bitusd to do business with you and earn interest.

Issuing your own asset could be more profitable if you used the strategy I outlined earlier.. and I do believe there is interest on arbritrary assets thru dividends? so they get shares of your company profit thru dividends.

A good happy medium would be to do transactions thru bitusd and have an incentive structure to use bitusd by offering tranz shares as gift or whatnot... later on when the system is being used people will naturally want to stay in bitusd for the sole reason of using them to buy shares in a cpany with rising profits... if profits dwindle fall back to bitusd and still earn more interest than any bank.

If their was a debit card created that had no fees, that gave access to bitUSD directly their would be no tx fees.

Quote from: roadkill on October 07, 2014, 09:29:20 pm

This news feels like a bummer, but when I think about it:

• Them picking NXT would be truly insulting
• They fight legal issues while BTSX breaks down borders
• DACs will prevail, and that's why they're not really a competitor
• Plot twist: Byrne already knows this

I'm not necessarily here for DPOS or a specific DAC. I'm here because BTS will be the best DAC launchpad, and DACs are the future.

What about Ethereum? Hate to burst your bubble, but Ethereum has a WAY greater potential for being the best DAC launchpad considering the amount of funding and momentum behind it....

Quote from: Gonzo on October 07, 2014, 05:38:20 pm

Quote from: MeTHoDx on October 07, 2014, 05:31:04 pm

After talking to bitmarket on the phone earlier I'm no longer against the original proposal. There were a few areas I may have been misunderstanding. Please help clarify them.

• The debit card can be spent anywhere a regular debit card can.
• There is an affiliate program in place to spread this. (If I advertise this program, I'll make $1000 every 10 referrals)
• It will be relatively easy for the prospect to put $1000 on the debit card (conversion rate should be high).

Am I correct?

Thanks for the bullets, MethodX.

Is this at all related to the credit card that can be paid off with BitUSD proposal?


Sent from my iPhone using Tapatalk

Yup, it's in response to the bytemasters original post at the beginning of this thread.

Quote from: bytemaster on October 07, 2014, 02:24:38 pm

You cannot arb yield difference.  That is like claiming the interest rate at two banks will be arb away.

You can arbitrage yield. You have money and face with two possibilities. You can park it in bank or in bitusd. If bank and bitusd have same risk you choose bitusd as long as it gives better yield. Every time such decision is made bitusd supply is increased until yields are equal. Better yet, you can actually borrow new usd and park it bitusd and bank yield difference.

Of course this is unlikely that bitusd risk would be treated equal to usd in bank, but you get the idea.
Any extra yield earned by bitusd will be compensation for additional risk of holding bitusd over usd.