Author Topic: The Hero from BitShares Island  (Read 10334 times)

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Offline Stan

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Re: The Hero from BitShares Island
« Reply #30 on: May 11, 2017, 02:11:33 pm »
Stan invoking Jesus Christ to incite FOMO...

Pretty extreme even by Stan's standards

Actually, no.  That was my mini sermon for the day. 
50% of my posts on Steemit over the past year are on that far more important topic, not BitShares.  :)
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 yvv

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Re: The Hero from BitShares Island
« Reply #31 on: May 11, 2017, 02:20:07 pm »
Saying that HERO pays interest is misleading, because it does not. If you have 1 HERO now, you'll have the same 1 HERO next year and next year and so on... It's buying power relative to USD is going to increase, because shorters are forced to pay more USD when you settle it. This is different from paying interest.

Offline Stan

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Re: The Hero from BitShares Island
« Reply #32 on: May 11, 2017, 02:23:04 pm »
Saying that HERO pays interest is misleading, because it does not. If you have 1 HERO now, you'll have the same 1 HERO next year and next year and so on... It's buying power relative to USD is going to increase, because shorters are forced to pay more USD when you settle it. This is different from paying interest.

Correct.  Xeroc explains this in his Hero wiki.
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Offline Permie

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Re: The Hero from BitShares Island
« Reply #33 on: May 11, 2017, 04:10:34 pm »
Stan invoking Jesus Christ to incite FOMO...

Pretty extreme even by Stan's standards

Actually, no.  That was my mini sermon for the day. 
50% of my posts on Steemit over the past year are on that far more important topic, not BitShares.  :)
Very interesting posts they are too.
 +5%
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Offline biophil

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Re: The Hero from BitShares Island
« Reply #34 on: May 11, 2017, 08:56:21 pm »
I don't think it's likely that HERO will pay effective returns of 5%. If you look very closely, HERO can only offer a maximum of 5% return; if it consistently trades above the price feed, it will offer lower returns. Sadly, if it trades above the price feed, it isn't 100% backed by BTS in collateral, which destroys one of its main value propositions.

Stan is talking like this thing is a free lunch (cue him telling me that he's not; judge for yourself), but it's rarely that simple. I don't frequent this forum much any more, but I've been posting about HERO over on Steemit:

https://steemit.com/bitshares/[member=6789]biophil[/member]/will-hero-work-or-can-you-brute-force-the-free-market
https://steemit.com/bitshares/[member=6789]biophil[/member]/who-will-pay-the-interest-on-hero
« Last Edit: May 11, 2017, 09:04:30 pm by biophil »
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Offline yvv

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Re: The Hero from BitShares Island
« Reply #35 on: May 11, 2017, 10:19:00 pm »
I don't think it's likely that HERO will pay effective returns of 5%. If you look very closely, HERO can only offer a maximum of 5% return; if it consistently trades above the price feed, it will offer lower returns. Sadly, if it trades above the price feed, it isn't 100% backed by BTS in collateral, which destroys one of its main value propositions.

Stan is talking like this thing is a free lunch (cue him telling me that he's not; judge for yourself), but it's rarely that simple. I don't frequent this forum much any more, but I've been posting about HERO over on Steemit:

https://steemit.com/bitshares/[member=6789]biophil[/member]/will-hero-work-or-can-you-brute-force-the-free-market
https://steemit.com/bitshares/[member=6789]biophil[/member]/who-will-pay-the-interest-on-hero

Here is an example when a person got completely confused by "5% return" claim. There is not 5% return, 1 HERO will always stay 1 HERO. 5% is a rate of increase of underlying peg index relative to USD.

Offline fluxer555

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Re: The Hero from BitShares Island
« Reply #36 on: May 11, 2017, 10:24:05 pm »
I don't think it's likely that HERO will pay effective returns of 5%. If you look very closely, HERO can only offer a maximum of 5% return; if it consistently trades above the price feed, it will offer lower returns. Sadly, if it trades above the price feed, it isn't 100% backed by BTS in collateral, which destroys one of its main value propositions.

Stan is talking like this thing is a free lunch (cue him telling me that he's not; judge for yourself), but it's rarely that simple. I don't frequent this forum much any more, but I've been posting about HERO over on Steemit:

https://steemit.com/bitshares/[member=6789]biophil[/member]/will-hero-work-or-can-you-brute-force-the-free-market
https://steemit.com/bitshares/[member=6789]biophil[/member]/who-will-pay-the-interest-on-hero

Here is an example when a person got completely confused by "5% return" claim. There is not 5% return, 1 HERO will always stay 1 HERO. 5% is a rate of increase of underlying peg index relative to USD.

If you read his steem articles, it's clear he understands this.

Offline biophil

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Re: The Hero from BitShares Island
« Reply #37 on: May 11, 2017, 10:41:52 pm »
I don't think it's likely that HERO will pay effective returns of 5%. If you look very closely, HERO can only offer a maximum of 5% return; if it consistently trades above the price feed, it will offer lower returns. Sadly, if it trades above the price feed, it isn't 100% backed by BTS in collateral, which destroys one of its main value propositions.

Stan is talking like this thing is a free lunch (cue him telling me that he's not; judge for yourself), but it's rarely that simple. I don't frequent this forum much any more, but I've been posting about HERO over on Steemit:

https://steemit.com/bitshares/[member=6789]biophil[/member]/will-hero-work-or-can-you-brute-force-the-free-market
https://steemit.com/bitshares/[member=6789]biophil[/member]/who-will-pay-the-interest-on-hero

Here is an example when a person got completely confused by "5% return" claim. There is not 5% return, 1 HERO will always stay 1 HERO. 5% is a rate of increase of underlying peg index relative to USD.

I'll assume you didn't read my articles. I do understand the distinction, hence the word "effective." I'm arguing that HERO is very unlikely to average 5% appreciation, because it will probably ‚Äčtrade at a large premium (on average) to the price feed. Simultaneously, if it trades at a large premium to the price feed, it will be subject to unpredictable price swings because the smartcoin mechanism only stabilizes price effectively when you're close to the feed. If HERO shorters aren't careful with Stan's bullish language, they're going to lose a lot of money while they're wondering why the price of HERO won't fall.

If you're bullish about HERO, you should read my articles and tell me why I'm wrong. I welcome the feedback!
Support our research efforts to improve BitAsset price-pegging! Vote for worker 1.14.204 "201907-uccs-research-project."

Offline Stan

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Re: The Hero from BitShares Island
« Reply #38 on: May 11, 2017, 11:40:07 pm »
I don't think it's likely that HERO will pay effective returns of 5%. If you look very closely, HERO can only offer a maximum of 5% return; if it consistently trades above the price feed, it will offer lower returns. Sadly, if it trades above the price feed, it isn't 100% backed by BTS in collateral, which destroys one of its main value propositions.

Stan is talking like this thing is a free lunch (cue him telling me that he's not; judge for yourself), but it's rarely that simple. I don't frequent this forum much any more, but I've been posting about HERO over on Steemit:

https://steemit.com/bitshares/[member=6789]biophil[/member]/will-hero-work-or-can-you-brute-force-the-free-market
https://steemit.com/bitshares/[member=6789]biophil[/member]/who-will-pay-the-interest-on-hero

Here is an example when a person got completely confused by "5% return" claim. There is not 5% return, 1 HERO will always stay 1 HERO. 5% is a rate of increase of underlying peg index relative to USD.

I'll assume you didn't read my articles. I do understand the distinction, hence the word "effective." I'm arguing that HERO is very unlikely to average 5% appreciation, because it will probably ‚Äčtrade at a large premium (on average) to the price feed. Simultaneously, if it trades at a large premium to the price feed, it will be subject to unpredictable price swings because the smartcoin mechanism only stabilizes price effectively when you're close to the feed. If HERO shorters aren't careful with Stan's bullish language, they're going to lose a lot of money while they're wondering why the price of HERO won't fall.

If you're bullish about HERO, you should read my articles and tell me why I'm wrong. I welcome the feedback!

Thanks for your thoughtful analysis.
I commented on them in your articles on Steemit.
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 konelectric

Re: The Hero from BitShares Island
« Reply #39 on: May 12, 2017, 02:25:12 am »
I don't think it's likely that HERO will pay effective returns of 5%. If you look very closely, HERO can only offer a maximum of 5% return; if it consistently trades above the price feed, it will offer lower returns. Sadly, if it trades above the price feed, it isn't 100% backed by BTS in collateral, which destroys one of its main value propositions.

Stan is talking like this thing is a free lunch (cue him telling me that he's not; judge for yourself), but it's rarely that simple. I don't frequent this forum much any more, but I've been posting about HERO over on Steemit:

https://steemit.com/bitshares/[member=6789]biophil[/member]/will-hero-work-or-can-you-brute-force-the-free-market
https://steemit.com/bitshares/[member=6789]biophil[/member]/who-will-pay-the-interest-on-hero

Shorter links:
http://bit.ly/2qarwO4 
http://bit.ly/2q90XKM
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Offline sahkan

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Re: The Hero from BitShares Island
« Reply #40 on: May 12, 2017, 02:32:44 am »
I have the feeds set up for when this thing kicks off.

Offline konelectric

Re: The Hero from BitShares Island
« Reply #41 on: May 12, 2017, 02:47:27 am »
For the newbie here interested in this thread. Start here: https://bitsharestalk.org/index.php/topic,22696.0.html
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Offline Stan

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Re: The Hero from BitShares Island
« Reply #42 on: May 12, 2017, 03:52:37 am »
I have the feeds set up for when this thing kicks off.

+1
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 Thom

Re: The Hero from BitShares Island
« Reply #43 on: May 12, 2017, 04:14:38 am »
I have the feeds set up for when this thing kicks off.

I'm just waiting for a "GO!", all ready and set to feed...
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Offline fav

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Re: The Hero from BitShares Island
« Reply #44 on: May 12, 2017, 05:12:31 am »
if you want to provide feed make sure to talk to xeroc first. last thing I heard was that there are not enough feed providers  registered.