I think it's more unsettling how some treat new people that enter the community. I could be wrong, that's just how I see it.  If someone wants to participate, let's give them a chance to show what they can do. I'm not about to crap in anyone's cereal that's looking to donate resources. We are still allowed to have a little fun around here, right? Different strokes for a different folks I guess.

Quote from: robrigo on November 30, 2014, 10:15:29 pm

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.

Quote

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.

Quote from: mira on November 24, 2014, 11:33:50 pm

Quote from: Empirical1.1 on November 24, 2014, 02:32:31 am

Regards the name, Sparkle sounds quite feminine. Have you considered just 'Spark'. That sounds more masculine and impactful. Spark a fire/revolution/idea etc.

 'All you need is a Spark'

Good grief!      Your comment sparked me.   

I would think it's empirically obvious that feminine IS impactful.  What's your problem with feminine?  And anyway, I don't particularly like the name BitShares, but think it would be silly to get sidetracked by aesthetics instead of finding out if it were a worthwhile thing or not.

Apologies for the offence Mira

Your POV about focusing on the technology/whether it would work vs. aesthetics is valid. Once the tech is out there though (& Sparkle is mostly a clone), it comes down to who can sell it the best. Which is branding and marketing.

(Donkeypongs signature revised for the brand Sparkle gives you an idea of the issue - https://bitsharestalk.org/index.php?topic=11662.msg153882#msg153882)

We are only constrained by our own willingness to reimagine everything.