ANNOUNCEMENT 8 - IDentabit Will Sharedrop on BitShares Community

[mike623317]

Like others, the only thing I don't like is the name. BitID that someone else suggested us perfect imo.

I love the website and most importantly the concept.
Let's hope we get some traction.

[Erlich Bachman]

if we capitalise the D then we would be seen as a dental implement, thank you but the good thing, is it makes sure people spell IDentabit with an A so it works for that reason.

Yeah, the capital "D" is DISTRACTING

You only capitalize the "D" if you are going to actually "abbreviate" the word.  The english is not even correct, what of the translation?  Anyway, good luck, I'm sure that you will be competing with slick marketing models like "Ripple" and "Ethereum" with multiples your market cap for reasons so simple that even a luddite (your target market) can understand.

HOw do you abbreviate the word "identity"?  "identi"  or "identa" ?

Identibit?

Identabit?

WTFabit?

What happened to KISS?  Not "Kiss" (we all know what happened to them)



The "branding" should have been the easy part

What was going to win "VHS" or "beta" ?

The one that didn't sound like a premature (alpha or beta) release of a new tech.

Who cares that beta was better tech.

The people at the apex of the banking pyramid desire control, but the other 99 % of the bankers are paid according to how much profits they generate. 

I believe that the current system is utterly corrupt from the top down. In trying to get to grips with the implications of underwun's proposal, I'm trying to comprehend how gaining network effect ahead of the bankers can be achieved whilst preserving core attributes of Bitshares...consensus defined constitutions that ultimately decentralise power.

the banks will end up sacrificing the control they have now.

not "sacrificing" 

"decentralizing"

In order to gain the network effect of decentralized communities (where the individual holds the power), any company must ultimately yeild to the power of the individual in order to participate.  Once they participate, then they can make profits by expanding the network further.  The Bank's power is in their brand name recognition which can lure new users in to the system effectively leveraging the customer base of the larger banks which will of course be more reluctant to integrate.  But once the smaller banks integrate and show profits and begin gaining market share on the large banks, then you can guess what happens next:

The big banks must either publicly fight a blockchain that champions absolute transparency and strict regulatory adherance, or they join in the enevitable evolution of humanity by adopting the modern technology that Identabit made easy for Grandma to use.

You can't fight the light!

And this coin promises to be the most absolutely transparent of all time!

[DMo09]

I like "bitID", but it also sounds like "bitUSD"...

Will There end up being several "____abits" and if so, will the "abit" be a different color, or  "*" in between like "Wal*mart"?

Most importantly, I think this business model is genius.  Good luck getting accepted by banks and governments!  Godspeed!

[yellowecho]

identitycoin has the word tity in it so it was inappropriate

so IDentabit was used because it has both "t" and "a"

IDcoin?

IDbit?

still can't figure out the significance of the "enta"

I too don't understand the "enta" part but I guess they had their reasons.
Only problem I see with the name is it sounds too long and isn't that catchy. I would prefer something more simple like IDblocks or something that sounds better and seems more catchy. This because I don't see the necessity of needing to associate with bitcoin, i don't agree with the part where it should be similar but different. It only needs to be unique imo.

As Underwood explains here: https://docs.google.com/document/d/1zDPgdB9Ftm6TOOTPhk2ZzFQLMP2chYRXZsDo6nGWPEE/edit#heading=h.uiwot0p3y1ws

This is ultimately foundation building for Remitabit
So Identabit was named to make that future brand migration easier.

Meanwhile, Identity is the key brand recognition point.

If that's the case, why not BitID or bitID? That would easily tie the brand together through having a RemitabitID?  "Good sir, do you have a bitID? Yes indeed, I have a RemitabitID." BOOM

[Stan]

identitycoin has the word tity in it so it was inappropriate

so IDentabit was used because it has both "t" and "a"

IDcoin?

IDbit?

still can't figure out the significance of the "enta"

I too don't understand the "enta" part but I guess they had their reasons.
Only problem I see with the name is it sounds too long and isn't that catchy. I would prefer something more simple like IDblocks or something that sounds better and seems more catchy. This because I don't see the necessity of needing to associate with bitcoin, i don't agree with the part where it should be similar but different. It only needs to be unique imo.

As Underwood explains here: https://docs.google.com/document/d/1zDPgdB9Ftm6TOOTPhk2ZzFQLMP2chYRXZsDo6nGWPEE/edit#heading=h.uiwot0p3y1ws

This is ultimately foundation building for Remitabit
So Identabit was named to make that future brand migration easier.

Meanwhile, Identity is the key brand recognition point.

[Akado]

identitycoin has the word tity in it so it was inappropriate

so IDentabit was used because it has both "t" and "a"

IDcoin?

IDbit?

still can't figure out the significance of the "enta"

I too don't understand the "enta" part but I guess they had their reasons.
Only problem I see with the name is it sounds too long and isn't that catchy. I would prefer something more simple like IDblocks or something that sounds better and seems more catchy. This because I don't see the necessity of needing to associate with bitcoin, i don't agree with the part where it should be similar but different. It only needs to be unique imo.

[Ben Mason]

I get that ID = Identification
bit=bitcoin
but what is the "enta"?

I thought that the banks desired "profits"

I thought they desired systemic control.... currency control isn't the only means.  You make a very interesting point about the difference between ripple & Bitshares. Also, there will be those who want to profit and will betray the beast. There may even be some good in them.....though I've not felt it's presence!

The people at the apex of the banking pyramid desire control, but the other 99 % of the bankers are paid according to how much profits they generate.  Do you know what the "entry level" banking position is?

Teller?

no

Salesman!

All new tellers are fired if they cannot sell.  All positions are eliminated if they cannot hit their financial targets.

The politicians who accept bitcoins:

are they the top dogs (obama?)

no, they are the 99%

Will Baron Von Rothschild adopt IDentalbit?  hell no, but will his minions defect when they realize that they can keep their jobs for another few quarters by driving customers to DPOS?

In other words, how many lower level bankers do you think are truly willing to take a bullet (give up free money, fame, sex, blow, & riches to take a financial hit for daddy Warbucks?

If you believe your logic, then you think that there is still honor among thieves, and that's OK, but I know thieves, and on average, they are more selfish rather than less as you believe.  But that's ok, you can trust thieves, but I will not, and I will plan my investment strategy under the assumption that bankers would rather keep their job than ensure that their bosses boss gets his next million dollar bonus, but, hey, that's just me. 

Bankers may be the most honorable sacrificial altruistic and noble people willing to die for their collective beliefs that central control must be strictly and exclusively adopted.

But I think that they are just as cowardly and afraid of real free market competition as their bosses, and will act in their own self interest as those whom they serve.

So, no, I still don't believe that all bankers will unite to take a bullet for their bosses.

http://247wallst.com/banking-finance/2015/05/29/a-new-wave-of-bank-layoffs-with-more-to-come/

You might be the honorable type of person to accept the layoff graciously so that your boss can afford his third vacation home, but I'm the type who would rather embrace new technology to hit my profit target to keep my family fed for another year.  We are just different people that's all.

I'm sorry erlich, i don't think I made myself clear. I believe that the current system is utterly corrupt from the top down. In trying to get to grips with the implications of underwun's proposal, I'm trying to comprehend how gaining network effect ahead of the bankers can be achieved whilst preserving core attributes of Bitshares...consensus defined constitutions that ultimately decentralise power. I'm only interested in the ultimate goal....a civilized world with integrity, peace and innovation at its heart.

Underwun's vision to challenge Bitcoin and capture network effect by partnering with major financial institutions as a stepping stone I intrigues me because ultimately (assuming identabit can preserve integrity through the process) the banks will end up sacrificing the control they have now.

I think you are right, there is no loyalty amongst thieves (as you put it) but perhaps there is an incentive to embrace something new they can profit from. I think many good people have been corrupted by the enormous incentives to indulge the current system.....I hope they will take the chance to embrace an alternative.

I think we're ultimately on the same page!

[underwun]

The only thing I don't like is the name itself - "IDentabit" sounds a bit strange for me.

like toothpaste

Anonymous dentistry has arrived! Maintaining personal privacy and a great smile is finally possible with IDentabit! 

'We couldn't even identify him from his dental records'

I am seriously laughing, I warned our guys, if we capitalise the D then we would be seen as a dental implement, thank you but the good thing, is it makes sure people spell IDentabit with an A so it works for that reason.

[Erlich Bachman]

I get that ID = Identification
bit=bitcoin
but what is the "enta"?

I thought that the banks desired "profits"

I thought they desired systemic control.... currency control isn't the only means.  You make a very interesting point about the difference between ripple & Bitshares. Also, there will be those who want to profit and will betray the beast. There may even be some good in them.....though I've not felt it's presence!

The people at the apex of the banking pyramid desire control, but the other 99 % of the bankers are paid according to how much profits they generate.  Do you know what the "entry level" banking position is?

Teller?

no

Salesman!

All new tellers are fired if they cannot sell.  All positions are eliminated if they cannot hit their financial targets.

The politicians who accept bitcoins:

are they the top dogs (obama?)

no, they are the 99%

Will Baron Von Rothschild adopt IDentalbit?  hell no, but will his minions defect when they realize that they can keep their jobs for another few quarters by driving customers to DPOS?

In other words, how many lower level bankers do you think are truly willing to take a bullet (give up free money, fame, sex, blow, & riches to take a financial hit for daddy Warbucks?

If you believe your logic, then you think that there is still honor among thieves, and that's OK, but I know thieves, and on average, they are more selfish rather than less as you believe.  But that's ok, you can trust thieves, but I will not, and I will plan my investment strategy under the assumption that bankers would rather keep their job than ensure that their bosses boss gets his next million dollar bonus, but, hey, that's just me. 

Bankers may be the most honorable sacrificial altruistic and noble people willing to die for their collective beliefs that central control must be strictly and exclusively adopted.

But I think that they are just as cowardly and afraid of real free market competition as their bosses, and will act in their own self interest as those whom they serve.

So, no, I still don't believe that all bankers will unite to take a bullet for their bosses.

http://247wallst.com/banking-finance/2015/05/29/a-new-wave-of-bank-layoffs-with-more-to-come/

You might be the honorable type of person to accept the layoff graciously so that your boss can afford his third vacation home, but I'm the type who would rather embrace new technology to hit my profit target to keep my family fed for another year.  We are just different people that's all.

The exaggerated tin foil hat meme that all bankers are collectively evil on all levels and ready to die for their beliefs is oversimplified and distracting from the complicated reality of life on earth.

[underwun]

ANNOUNCEMENT 8 - TL;DR:

That’s a tall order and may be the crypto equivalent of Icarus flying too close to the sun.

However, there are already several groups positioning themselves to be an IDentabit competitor, so I would much rather gamble on the winner of this game include the bitshares community and our ideologues vs. their "pragmatists".

This also makes it so much important for something like bitshares (with fully functional privacy and somewhat attainable anonymity) to succeed parallel to allow for and function as a lifeboat when the worst does eventually happen.

https://www.youtube.com/watch?v=QR3fD5YyN3g

 

It is a big game but here is the argument.

Bitcoin is dead and gone, not because of the tech but the reality of failed integration with financial institutions and inability to drive adoption by way of known user association.

We are as you say, if we all scream loud enough the leader, and the leader gets to sets how high the bar is and we are setting the bar very high.

The main challenge is being recognised as the player everyone compares others with.

We must the focus the media  on the one on one battle and we need the communities help, hence the sensible share drop.

Here is our community announcement https://bitsharestalk.org/index.php/topic,17934.0.html and a living marketing document that you are welcome to question.

https://docs.google.com/document/d/1zDPgdB9Ftm6TOOTPhk2ZzFQLMP2chYRXZsDo6nGWPEE/edit#heading=h.uiwot0p3y1ws

Got to go hopefully we can catch up soon.

[underwun]

if anyone wonders how much they are sharedroping you can find it here http://identabit.com/docs/IDentabitAnnouncementIDentabitCryptonomex.pdf

spoiler: 40%

We appreciate the interest

More explained here https://bitsharestalk.org/index.php/topic,17934.0.html

[underwun]

Stan, do you believe this coin is capable of resisting subversion with DPOS alone? If so, why would the banks go for it? An identity based chain is only useful to these despots if they can exert control (the type of control that makes slaves of everyone else's.) Surely, they will go with Ripple because it delivers exactly what they desire.

Is identabit only viable if the banks buy the long con? If not, we're back to educating the masses and hoping for mass adoption of Bitshares.....

I love the attempts to attack this from all angles and I get where underwun is coming from....guess it's worth a try!

This. It's always good to see new stuff and see better projects but I'm just wondering why would banks or other big entities go for this over Ripple. Not to mention Ripple is already known and already has deals with some big banks

Hi There

Identabit is not intended as a Ripple competitor.

The open space is for a genuine neural digital currency, Bitcoin is a dead coin rolling in our opinion and our goal is to step into the underutilized infrastructure built for Bitcoin. We will see countless stories like  37Coins closing down as investments flounder, Identabit has been introduced to give investors hope that there is a viable alternative with mainstream appeal.

http://www.coindesk.com/bitcoin-remittance-startup-37coins-announces-closure/

Once we get traction for Identabit as an alternative to Bitcoin then all the other features inherent in Bitshares become important but until then its mano o mano.

[Stan]

Does this mean that IDentabit sharedrops will not be anonymous? If that's the case, wouldn't the sharedrop itself disclose the identities of each BTS account?

From identabit.com:

Pro-privacy

Transaction and privacy comes as a consequence of Identabit's blockchain being closed to public and regulatory scrutiny. Conditional P2P/AML/CTF reporting is the responsibility of an exchange therefore limiting transaction visibility to users and their specific exchange.

[underwun]

The only thing I don't like is the name itself - "IDentabit" sounds a bit strange for me.

like toothpaste

Is "IDentabit" going to be the final brand name?

Here is our announcement to the community.

https://bitsharestalk.org/index.php/topic,17934.0.html

Here is our branding document

https://docs.google.com/document/d/1zDPgdB9Ftm6TOOTPhk2ZzFQLMP2chYRXZsDo6nGWPEE/edit?usp=sharing

There is a reason for everything and if there isn't there should be.

[Ben Mason]

why would the banks go for it? Surely, they will go with Ripple because it delivers exactly what they desire.

I thought that the banks desired "profits"

you know...money  $$$$

What is it that you thought that they desired?

I thought they desired systemic control.... currency control isn't the only means.  You make a very interesting point about the difference between ripple & Bitshares. Also, there will be those who want to profit and will betray the beast. There may even be some good in them.....though I've not felt it's presence!