Author Topic: An approach for engaging the non technical  (Read 4116 times)

0 Members and 1 Guest are viewing this topic.

Offline krystalwhite

  • Jr. Member
  • **
  • Posts: 44
    • View Profile
Re: An approach for engaging the non technical
« Reply #15 on: December 04, 2013, 12:04:22 am »
Hi All,

Sorry I have not posted back re a flyer for the non technical however I realised that in order to engage people in the ideas generated by Invictus a person needed to have some understanding of what crypto currencies etc offered.

Also lots of off crypto coin world hassles...

Those that are not yet in tune with the crypto currency world are not able to envisage the possibilities therefore it is probably too early to attract this market.

So I have pulled together something to wet peoples appetite to investigate further if the 'market appeals to them.

Hopefully I have encapsulated a micro view of what is on offer to be used as a taster/flyer - if not just ignore me  :D

If I have misunderstood something let me know...

NB Graphics not added just text;

"Once in a lifetime an opportunity comes along...are you brave enough to join the internet evolution revolution?

Introducing Invictus  Innovations

First came Protoshares (PTS) and  spawned from Protoshares are the Keyhotee ID, DACs and Bitshares
Intrigued...?

So what are Protoshares, Keyhotee IDs, DACs and Bitshares?

Protoshares

In the beginning there were Protoshares, which went live on the 5th November.

Protoshares represent the primordial soup from which the future of the internet is born.

Protoshares can be CPU mined, bought or sold.

Protoshares are the embryonic life of Keyhotee, DACs and Bitshares .

Mined or bought  Protoshares allow you to purchase a Founder's Keyhotee ID - which enables you to be the part of the Genesis. A new beginning.

Protoshares provide you with a share in every DAC (Distributed Autonomous Corporation)

Once Keyhotee goes live on 1st January 2014 you receive a 1:1 Protshare:BitShare.

Keyhotee ID

Keyhotee is your global ID - become a world citizen and enter free space - a place where your reputation counts. Keyhotee provides your email, bank account and chat - protected, encrypted and private.  You deserve your privacy - don't neglect it.

Buy, trade, negotiate and converse through one ID  - dreams can come true.

DACS  (Distributed Autonomous Corporation)

DACs are  corporate entities/organisms that are backed by a crypto currency valued by the supply of goods and services to customers  or miner performance.

The currency or share is used for the DAC to trade settling liabilities, purchasing assets and paying share holder dividends.
A DAC is limited only by the imagination and reputation of the 'organism'.

Bitshares

Bitshares are born from Protoshares. The Bitshare holders receive an equal  split of the BitShares Financial Network profit on a per-share basis.  Mine, buy, trade  or earn Bitshares. The more BitShares you own the more your potential return.  Investment 2.0?

Like all frontier folk we stand looking out over the New World of opportunity - the global community now gazes towards the horizon waiting for the new internet dawn.

Will 2014 be the year? "


Cheers

kw

Offline que23

  • Full Member
  • ***
  • Posts: 165
    • View Profile
Re: An approach for engaging the non technical
« Reply #16 on: December 04, 2013, 03:20:22 am »
I told a student of mine, who has never even heard of bitcoin, about keyhotee. He was very excited. I told him that you could have a unique ID that would allow you to visit any site without entering any information and even buy stuff without entering information and that everything from the money and to the shipping would automatically be taken care of by the system. I also described your relationship to Amazon or any big sales site as being a type of imprisonment. Because you have to always enter your info at every site you wish to do business with, this prevents people from wanting to try or interact with new or lesser known sites. From a small business perspective, this is depressing. The friction for getting new costumers is enormous. People are tired and scared of entering their personal information over and over on networks you just assume are compromised. I think keyhotee is an easy sell to small and struggling web businesses. If we can get a lot of  these businesses to accept the keyhotee system, it will facilitate its adoption.

As for the business opportunity to get involved with the protoshares. I have to be honest. Sometimes it sounds kind of scamy. I tried to explain it to my father, who has been scammed serval times, and he told be to be careful. Is there a better way to talk about protoshares without it sounding like a scheme? Why are we being allowed to participate in the system with protoshares? Why are they willing to give us a slice of the pie? These are questions people will ask.
PTS: Pa75dEzGkMcnM85hRMbdKiS1YdF81rnSCF

Offline bytemaster

Re: An approach for engaging the non technical
« Reply #17 on: December 04, 2013, 03:28:15 am »
I told a student of mine, who has never even heard of bitcoin, about keyhotee. He was very excited. I told him that you could have a unique ID that would allow you to visit any site without entering any information and even buy stuff without entering information and that everything from the money and to the shipping would automatically be taken care of by the system. I also described your relationship to Amazon or any big sales site as being a type of imprisonment. Because you have to always enter your info at every site you wish to do business with, this prevents people from wanting to try or interact with new or lesser known sites. From a small business perspective, this is depressing. The friction for getting new costumers is enormous. People are tired and scared of entering their personal information over and over on networks you just assume are compromised. I think keyhotee is an easy sell to small and struggling web businesses. If we can get a lot of  these businesses to accept the keyhotee system, it will facilitate its adoption.

As for the business opportunity to get involved with the protoshares. I have to be honest. Sometimes it sounds kind of scamy. I tried to explain it to my father, who has been scammed serval times, and he told be to be careful. Is there a better way to talk about protoshares without it sounding like a scheme? Why are we being allowed to participate in the system with protoshares? Why are they willing to give us a slice of the pie? These are questions people will ask.

You know why... because people consider pre-mining to be a scam, pre-selling like Mastercoin to be elitist or a scam, Ripple to be a scam... you cannot win.   But ultimately the real reason comes down to putting decentralization first.   If we owned and controlled the whole thing we would be a central point of failure.  Instead, we want everyone to have financial incentive to see these ideas spread.   

I really like your small business perspective, though it is probably a few years away because we would need to partner with Fed Ex, UPS, DHL, etc to get the shipping part secure.   
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 bytemaster

Re: An approach for engaging the non technical
« Reply #18 on: December 04, 2013, 03:31:29 am »
Krystal,  your description of BitShares could use some work.

1) BitShares is a DAC that implements a Decentralized Bank and Exchange, pays you 5% return on your USD, Gold, Silver, BTC, Oil, or Gas holdings, and pays your dividends for holding the stock that are earned from transaction fees.   You get a higher yield than your bank, don't have to worry about your funds being confiscated, everyone becomes a bank teller, no need for bailouts.

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 Pocket Sand

  • Full Member
  • ***
  • Posts: 118
    • View Profile
Re: An approach for engaging the non technical
« Reply #19 on: December 04, 2013, 03:49:10 am »
Quick question Daniel, is the 5 percent return from your gains or what? Also where do these extra 5% gains come from



Offline bytemaster

Re: An approach for engaging the non technical
« Reply #20 on: December 04, 2013, 04:37:55 am »
Quick question Daniel, is the 5 percent return from your gains or what? Also where do these extra 5% gains come from

It works just like a bank, those who borrow BitUSD to short it, pay 5% interest.  Those who hold BitUSD earn 5% interest.  Wealth transfers from borrower to lender.
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 krystalwhite

  • Jr. Member
  • **
  • Posts: 44
    • View Profile
Re: An approach for engaging the non technical
« Reply #21 on: December 04, 2013, 08:19:25 am »
Hi Bytemaster,

Ok so Bitshares is a DAC in its own right but I still haven't quite got a handle on what you are trying to achieve.

Namely, I don't understand the 5% yield on the physical commodities.

How do I earn 5% on my GLD?

Are you thinking about ETFs which are different to the physical - some are backed by physical whilst others are not?

If it is the physical how do I lend my GLD to the exchange - do I issue my own ETF to the exchange - what/where is my burden of proof of holding?

If I the transaction is a physical one how can I be sure of my GLD's security?

They could run off with the GLD - ok lose their good name but hey they got my GLD!

There are inherent difficulties with lending your physical  GLD - ask Germany?!!

GLD does not earn interest it is a hedge against market factors and a reserve of wealth.

If I put my GLD in a bank I earn no interest - I am just securing my GLD against a theft from my house - on the basis that the bank is safer!!!

I can see how easily transferable assets like crypto currencies can be used but not physical assets such as GLD.

Is the 5% return pa/pd/pm - is it an arbitary figure - does it fluctuate with market conditions - who sets it?

Legislation either local or international may also become a factor.

Can you clarify your approach to this?

Cheers

kw

Offline bytemaster

Re: An approach for engaging the non technical
« Reply #22 on: December 04, 2013, 02:56:12 pm »
You lend the value of gold denominated in pts.  No physical gold used but you get all of the gains and losses as if you held gold.  The individual lending the value of gold earns 5% from the individual borrowing the value of gold.


Sent from my iPhone using Tapatalk
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 krystalwhite

  • Jr. Member
  • **
  • Posts: 44
    • View Profile
Re: An approach for engaging the non technical
« Reply #23 on: December 04, 2013, 05:52:42 pm »
Thanks for the response Bytemaster -

So I own GLD PTS which I lend out and receive 5% interest on those GLD PTS.

I do not need to have physical gold at all.  I will buy, mine or trade GLD PTS in order to acquire them and their value will be based on the market value of Gold.

So the market value could be 600 GLD PTS = 1 troy oz of gold

If I lend out 600 GLD PTS I will receive 5% pa for every year they are loaned out and will be paid 30 GLD PTS pa.  The 5% will be paid on the number of GLD PTS I lend out and not on the market value of a GLD PTS compared to physical gold.

On what basis is the GLD PTS created? i.e. A bullion house has 1000 bars and creates a crypto coin called GLD PTS which is then mined, traded, lent etc?

Does the bullion house have to certify their gold holding before creating the GLD PTS.

Could there be several competing GLD PTS i.e. the BOE creates its own GLD PTS (well it could do if we hadn't sold so much of it on the cheap!!) and also the Fed Reserve does the same.  If people have more confidence in the Fed then the value of their GLD PTS is higher in comparison to the BOE one.

I am trying to get to the essence of the Bitshare and using gold as an example.

So if BP wanted to launch their own crypto currency it would be BP OIL PTS and the value would depend on the confidence that the market had in the company.  Does this make Bitshares crypto shares?

I hope I am making some sense - it is difficult to assimilate the information in an area you have only been exploring for a few weeks.

Will we have GUI like cx (see signature below) or IG index (spread betting) where the value of each Bitshare/PTS/ Crypto Coin is updated and can be auto valued against an off cyrpto world currency of your choice or against a revived gold standard.

You can create your own portfolios based on your market interest.

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

If my understanding is correct then Invictus is creating a whole future for the world of finance/market capitalisation and money supply.  Will the world need a control currency/commodity or crypto coin as a bench mark for valuation? Does there actually need to be a controlling currency?

The buying,selling, trading,mining transaction fees could be used as an alternative to taxation and allocated to governments - local/national based some form of democratic voting using your Keyhotee ID which will make governments more accountable.  If 60% of the voting public in a country want to see more infrastructure - more of the fee tax goes to infrastructure etc. Corporations would have to pay heed to the voters instead of just lobbying the elected officials because the money they receive will be controlled by the voters.  The elected officials being the civil servant administrators of the public purse.

Anyhow I am now officially waffling so off to feed the dog -

Admin - If this post needs to go elsewhere please move as you see fit.

Cheers

kw


Offline seraphim

Re: An approach for engaging the non technical
« Reply #24 on: December 04, 2013, 07:39:21 pm »
On what basis is the GLD PTS created?

on the basis of Bitshares.
Imagine BTS = 1oz GLD (= i.e. 1000$) . With 2 BTS you can create 1 bitGLD.
Meet you on STEEM

Offline bytemaster

Re: An approach for engaging the non technical
« Reply #25 on: December 04, 2013, 10:40:55 pm »
On what basis is the GLD PTS created?

on the basis of Bitshares.
Imagine BTS = 1oz GLD (= i.e. 1000$) . With 2 BTS you can create 1 bitGLD.

I would change the phrasing... suppose that 1 oz of Gold is worth 1 PTS.

With 2 BTS you could borrow 1 BitGold at 5% interest so long as you posted 2 BTS as collateral.

If the value of BTS falls such that 2 BTS = 1.5 Oz of Gold then there will be a margin call and your collateral will be used to buy back 1 BitGold + Interest from the market and you will be left with less than 0.5 BTS.    If the value of BTS rises relative to gold by more than 5%/year, then you can easily pay off your loan and walk away with 2+ BTS having earned a profit.





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 krystalwhite

  • Jr. Member
  • **
  • Posts: 44
    • View Profile
Re: An approach for engaging the non technical
« Reply #26 on: December 04, 2013, 11:44:19 pm »
I see - crypto gambling - similar to spread betting.

I need to have xxxGBP in my account in order to take a position on a share/commodity even though only a deposit is taken out of my account when I place a position.

I think I get where you are coming from now with regard to the lending part.

Presumably the value of a BTS or BitGOLD is 'free' market sentiment?

So just to clarify - person A goes to an exchange and wants to loan 3 BitGOLD. 1 BTS is currently worth 1 BitGOLD so if person B wants to borrow 3 BitGOLD he needs to deposit 6 BTS with the exchange. The lender (A) of the 3 BitGOLD gets 5% interest pa and the Lendee (B) is then taking a position that the value of BitGOLD will rise enough to cover his debt and make a profit.

Question: Will B get any return on his 6 BTS that he has deposited with the exchange and can the exchange lend out the BTS or use it to hedge their own positions?

The exchange gets a fee (profit/tax) and is a DAC in its own right with its own shares etc etc?

Sorry if I am being a pain..

Cheers

kw