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General Discussion / Re: Basic, clear Bitshares and related coin info
« on: January 03, 2015, 02:56:28 pm »
Love these concise summaries of important info. Thanks very much.
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Wow this really does come as a surprise. First thank you global for taking the time to draft this thread. It does mean a lot that someone in the bitshares community thinks so highly of me. I didn't really think that was the case.
Succinctly, I don't have any intentions to run a delegate for three reasons. First, the board of Invictus made a decision without debate or my input back in October of last year that my services were no longer required. I really don't think I can have an effective working relationship with the people who made that decision moving forward. I'd be happy to collaborate where it makes sense and I always promote good technology if it's open source, high quality and solves real problems. Thus I'd be happy to pitch Bitshares as it evolves just like I do Eris, Counterparty and other platforms.
Second, I'm currently involved in several ventures as an adviser and I'm also starting an education venture in 2015 that requires some degree of objectivity. To avoid conflicts of interest, I can't really take a paid advocacy role.
Third, after spending roughly $250,000 on US legal research via Pryor Cashman while at Ethereum, I've come to the opinion that ICOs like angelshares pass the Howey test and thus agents of the company are exposed to unnecessary legal liability. Delegates as fiduciaries are not immune to this liability and it isn't just a fine from the SEC. Furthermore, even if AGS is considered a donation, it seems to me to be a donation solicited with an implicit expectation of return, yet without any accountability from the solicitor (as evidenced by numerous examples, the most recent being the Brian Page audit thread). As I've written in my recent whitepaper, I feel these events are predatory and result in bad outcomes.
As bitshares the technology gets further disintermediated from I3 the company, then I'd be happy to become more involved. This will no doubt happen over the coming months and years and I believe everyone is in this for the long haul anyway. Anyway, thanks again for the consideration.
Disagree.
Ripple really concerns me.
I think ripple labs is going to find it incredibly hard to decentralise. Say for arguments sake that XRP became a decent store of value with which you could peg fiat derivatives to like in bitshares. How on earth would they be able to convince all the banking establishment that they've spent so long trying to win over to accept a feature which makes them redundant?
It's just not going to happen, IMO.
"He who controls the Spice, controls the Universe"
Ripple may be an interesting and innovative project, however, the nodes that process the transactions have zero democratic oversight as I understand it. Ripple is surely central banking 2.0. Which is why it has garnered support from certain financial institutions. Ripple seems to me to be our ancient adversary in a new guise, not simply our competition.
Hope you don't mind, stole "central banking 2.0" for related reddit post:
http://www.reddit.com/r/Bitcoin/comments/2pjp31/are_whales_selling_bitcoin_to_buy_ripple/cmxm88s
We'll need a 1-2 sentence description of BitShares, here's my draft, and I'd love to know what you all think:BitShares is a technology & toolkit striving to enable freedom through solutions for: finance, music, voting, insurance, & much MUCH more.
Step 1 is developing a photo for the campaign with built in potential virality (i.e. a catchy #hashtag) Cass and I have been working together to develop this image and are looking for feedback.
Feast your eyes on this and let me know what you think.
#tryhonestbanking
#oppositeofcentralbanking
#trustlessbanking
#trustblockchainnotbanking
#believeinblockchain
#BitShares,BelieveinBlockchain
I like the 2 Ben mentioned:
#tryhonestbanking
#honestbanking
What about #bankingrevolution ?
Some others
#beyourownbank
#bankingfreedom
I think it's important to note that this isn't just a solution for banking. BitShares is a toolkit to provide solutions for finance, music, insurance, voting, and more