Author Topic: Look what someone has figured out...  (Read 4665 times)

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Offline Thom

As best I can tell, the entire company / DAC metaphor has been abandoned to avoid provoking securities' regulators.

The 'Bitshares' brand/name is the last legacy of that.

We used to try and claim any and all metaphors that could be made to fit in order to communicate the nature of BTS/X.

Now, we go out of our way to disown them.

The SEC doesn't care what you call it... Securities... Companies... Corporations.. IPOs.. ICOs... Donations...

A spade is a spade in their eyes, and if their criteria for identifying a security was triggered then it doesn't matter what you call it.

Not true.  In fact what you call it is part (but not all) of their criteria.

Seems rather risky to hang our hat on that. I'm sure you've been advised by your legal counsel this is a very important distinction, but then attorneys are members of the B.A.R. and are bound to side with the court / judge first and foremost over any obligations they might have with clients. Sad but true, that's our fucked up legal system. I've seen too many attorneys that simply outright lie to have any confidence in the profession.

If push comes to shove your legal adversary will spin the story based on what BitShares actually IS and how it operates and make their case that way. Since your adversary will be the government (SEC) who provides judges paycheck / benefits, which side of the controversy do you think they'll favor?
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Offline gamey

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As best I can tell, the entire company / DAC metaphor has been abandoned to avoid provoking securities' regulators.

The 'Bitshares' brand/name is the last legacy of that.

We used to try and claim any and all metaphors that could be made to fit in order to communicate the nature of BTS/X.

Now, we go out of our way to disown them.

Having the company metaphor doesn't have as much sense when you are no longer trying to appeal to people to create their own new DACs.  I am not so sure it has as much to do with securities/regulators as this simple fact.
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Offline Ander

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hmm.....don't forget ripple's supply still has 3 times room to multiple .

Indeed.

We will hit #2, then they will have to push for adding the final 72 billion ripple to the supply, then we will have to get back to #2 again. ;)
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julian1

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As best I can tell, the entire company / DAC metaphor has been abandoned to avoid provoking securities' regulators.

The 'Bitshares' brand/name is the last legacy of that.

We used to try and claim any and all metaphors that could be made to fit in order to communicate the nature of BTS/X.

Now, we go out of our way to disown them.

Hmmm.   I seem to remember doubling-down on using whatever metaphor makes the "ah-ha" light come on fastest.
Just two weeks ago...

Flip the metaphors around too quickly and you risk losing rapport with your audience.

Can't wait to see the new website!

Offline Stan

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As best I can tell, the entire company / DAC metaphor has been abandoned to avoid provoking securities' regulators.

The 'Bitshares' brand/name is the last legacy of that.

We used to try and claim any and all metaphors that could be made to fit in order to communicate the nature of BTS/X.

Now, we go out of our way to disown them.

Hmmm.   I seem to remember doubling-down on using whatever metaphor makes the "ah-ha" light come on fastest.
Just two weeks ago...
Anything said on these forums does not constitute an intent to create a legal obligation or contract of any kind.   These are merely my opinions which I reserve the right to change at any time.

Offline Riverhead

I think comparing ourselves, our market cap, to Bitcoin does us a disservice. Just because we use a blockchain, and are listed on coinmarketcap.com, doesn't mean we need to follow their lead and fit in their slot (whoever they are).

The crypto world is such a small community compared to what we're going after it's nearly meaningless. We'll pass BTC incidentally.

I have been struggling to think of an apt metaphor and failing. I'm hoping my "BTS is not an alt coin" thread will assist in this.

We should be looking at Wells Fargo, Chase, NatWest, Barclays, Bitshire Berkshire Hathaway.

Strap some extra fuel tanks to that main engine. We've got a long way to go...
« Last Edit: November 15, 2014, 03:52:04 am by Riverhead »

Offline cn-members

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We won't stay long at Number 2.  :)

I think we will be at #2 for quite a while myself. :)
But its good that Stan feels confident.

Passing bitcoin wont be easy.  And in fact, we dont even need to pass bitcoin to make us all rich.  Just reach a significantly higher percent of bitcoin's market cap than we are at now, while also having bitcoin increase during its next bubble.

(Of course, eventually passing it is an even bigger deal).

As soon as we're Number 2 with the checking/savings metaphor people will start using both - just to get yield.

"Both" is good.

Once someone uses both, they quickly conclude they want to use BTS as much as possible except when they absolutely must convert to to BTC to use some off ramps.
Over a short time, that moves 99% of BTC into BTS the same way 99% of bank deposits are in savings not checking.

"Both" is the tipping point.

hmm.....don't forget ripple's supply still has 3 times room to multiple .
BTS中文区发言人公共账号,帮助社区有效沟通与交流。
Chinese Community Spokesman Account,to help the effective communication between Chinese and other members of the community.We're not translators to do regular translations , but will help with vital ones as we see fit and available at that time.

Offline Stan

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We won't stay long at Number 2.  :)

I think we will be at #2 for quite a while myself. :)
But its good that Stan feels confident.

Passing bitcoin wont be easy.  And in fact, we dont even need to pass bitcoin to make us all rich.  Just reach a significantly higher percent of bitcoin's market cap than we are at now, while also having bitcoin increase during its next bubble.

(Of course, eventually passing it is an even bigger deal).

As soon as we're Number 2 with the checking/savings metaphor people will start using both - just to get yield.

"Both" is good.

Once someone uses both, they quickly conclude they want to use BTS as much as possible except when they absolutely must convert to to BTC to use some off ramps.
Over a short time, that moves 99% of BTC into BTS the same way 99% of bank deposits are in savings not checking.

"Both" is the tipping point.



Anything said on these forums does not constitute an intent to create a legal obligation or contract of any kind.   These are merely my opinions which I reserve the right to change at any time.

Offline jsidhu

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bitshares has the best name and best chance to succeed... I showed my peer at work, an ex msft developer, the wiki pedia for bitshares and he liked it alot.. starting with the name...
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Offline CoinHoarder

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As best I can tell, the entire company / DAC metaphor has been abandoned to avoid provoking securities' regulators.

The 'Bitshares' brand/name is the last legacy of that.

We used to try and claim any and all metaphors that could be made to fit in order to communicate the nature of BTS/X.

Now, we go out of our way to disown them.

The SEC doesn't care what you call it... Securities... Companies... Corporations.. IPOs.. ICOs... Donations...

A spade is a spade in their eyes, and if their criteria for identifying a security was triggered then it doesn't matter what you call it.

Not true.  In fact what you call it is part (but not all) of their criteria.

What I meant was what's done is done. If it is ruled as a security offering subject to registration with the SEC, nothing that we say now will change that.
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julian1

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Most markets are comprised of a couple of dominate incumbents. Bitshares is nicely distinguished in features from Bitcoin (profitable pos, pegged assets, fast) to make it a great alternative for end-users. Getting to number 2 would be an awesome achievement!

Offline Ander

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We won't stay long at Number 2.  :)

I think we will be at #2 for quite a while myself. :)
But its good that Stan feels confident.

Passing bitcoin wont be easy.  And in fact, we dont even need to pass bitcoin to make us all rich.  Just reach a significantly higher percent of bitcoin's market cap than we are at now, while also having bitcoin increase during its next bubble.

(Of course, eventually passing it is an even bigger deal).
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Offline Stan

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Mostly doesn't matter. 

We get to Number 2 without even mentioning the technology or BitShares theory or anything we love to discuss here.

We are just the world's best crypto savings and checking account.

Once at Number 2, people will be interested because we are Number 2.

We won't stay long at Number 2.  :)

Anything said on these forums does not constitute an intent to create a legal obligation or contract of any kind.   These are merely my opinions which I reserve the right to change at any time.

Offline fuzzy

Urg...why does this shit frustrate me so much?  Maybe because the people who pushed us to crypto with their extreme levels of corruption/treason are now plannin to regulate us...and we are all seemingly cool with letting them.
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Offline bytemaster

As best I can tell, the entire company / DAC metaphor has been abandoned to avoid provoking securities' regulators.

The 'Bitshares' brand/name is the last legacy of that.

We used to try and claim any and all metaphors that could be made to fit in order to communicate the nature of BTS/X.

Now, we go out of our way to disown them.

The SEC doesn't care what you call it... Securities... Companies... Corporations.. IPOs.. ICOs... Donations...

A spade is a spade in their eyes, and if their criteria for identifying a security was triggered then it doesn't matter what you call it.

Not true.  In fact what you call it is part (but not all) of their criteria.   

For the latest updates checkout my blog: http://bytemaster.bitshares.org
Anything said on these forums does not constitute an intent to create a legal obligation or contract between myself and anyone else.   These are merely my opinions and I reserve the right to change them at any time.

Offline CoinHoarder

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As best I can tell, the entire company / DAC metaphor has been abandoned to avoid provoking securities' regulators.

The 'Bitshares' brand/name is the last legacy of that.

We used to try and claim any and all metaphors that could be made to fit in order to communicate the nature of BTS/X.

Now, we go out of our way to disown them.

The SEC doesn't care what you call it... Securities... Companies... Corporations.. IPOs.. ICOs... Donations...

A spade is a spade in their eyes, and if their criteria for identifying a security was triggered then it doesn't matter what you call it.
« Last Edit: November 15, 2014, 01:26:50 am by CoinHoarder »
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julian1

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As best I can tell, the entire company / DAC metaphor has been abandoned to avoid provoking securities' regulators.

The 'Bitshares' brand/name is the last legacy of that.

We used to try and claim any and all metaphors that could be made to fit in order to communicate the nature of BTS/X.

Now, we go out of our way to disown them.



Offline toast

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so basically "shh, don't think about it too hard". Fine with me. Know your target audience I guess.
Do not use this post as information for making any important decisions. The only agreements I ever make are informal and non-binding. Take the same precautions as when dealing with a compromised account, scammer, sockpuppet, etc.

Offline Ander

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Problem is that what we're saying BitShares is is explicitly *not* digital tokens that represent shares in a company. We need some distinct name to call UIA's that actually represent those.

But BitShares IS digital tokens that represent ownership of equity in the whole system.   Its not exactly the same but it is analogous.

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Offline Ander

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Also:  Yeah, nobody out there has any idea what Bitshares is.   Because the marketing hasnt happened yet.

People got a small taste of what Bitshares was about in August when bitAssets released.  Aside from that they just have no idea.


Even most of the bitshares holders have no idea whats going on, I think!  Thats why they dumped so hard about the 'dilution', because they didnt understand what was happening and were vulnerable to fear and people spreading FUD.


Hopefully when the marketing campaign occurs and we begin to promote a clear message to the world, lots of people out there will start to understand what Bitshares is and get excited about it.
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Offline toast

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Problem is that what we're saying BitShares is is explicitly *not* digital tokens that represent shares in a company. We need some distinct name to call UIA's that actually represent those.
Do not use this post as information for making any important decisions. The only agreements I ever make are informal and non-binding. Take the same precautions as when dealing with a compromised account, scammer, sockpuppet, etc.

Offline Ander

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Bitsahres is the best name for what we are doing for exactly this reason.

People who have no idea about what BTS is are instinctively calling this idea 'Bitshares'. 
People are going to then hear about it and search for 'Bitshares' and what will they find?  BTS already doing exactly this thing that they are thinking about.

What are they going to want to do then?  Buy some.
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julian1

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Quote
represent shares of its capital

On one hand, it's great that they managed to independently arrive at this conclusion themselves.

At the same time, it's disconcerting that Bitshares isn't sufficiently well-known that we weren't identified by name as an example.

Meanwhile other alts (nxt, etherium) do get a mention in the article.

Offline neo1344

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yes very good article regarding BTS thanks for sharing. ;D

Offline Pheonike


http://cointelegraph.com/news/112915/bnp-paribas-research-reveals-5-potential-disruptive-impacts-of-cryptocurrencies

Caught this this quote from the article,

"These initiatives might first appeal those who are already raising money through alternative channels such as crowdfunding. However, we might not be far from the day when a quoted company says that coins (that we could call ‘Bitshares’ to distinguish them from the currency coins) represent shares of its capital."