The HERO – What is The Billion Dollar Hero Challenge? – Bitshares

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Hi everybody I’m Michael and I’ve got Stan
Larimer here from Krypton ohmic and
bitshares and we’re here to talk about
its exciting new initiative that we’ve
got going on called the hero challenge
or I guess more so it’s more like the
billion dollar prize challenge and I
think we’re going to explain what this
is and everything here in just a minute
but you want to say hi to everybody real
quick Stan hello everybody great to be
here everybody now we’re going to talk
about the hero or well I guess what is
the hero first of all Stan where’s the
hero to you well what we’ve done is
we’ve produced a new coin using the
chairs capabilities that should be of
great interest to ordinary people
right now a lot of people get excited
about digital currencies are pretty much
either you know people who like
technology or people who have a special
use case but the RV’s consumer now they
haven’t seen a reason to do it just yet
but we wanted to produce a currency that
was more likely to be interesting of
interest to the average person and the
average person out there would like to
have something that works a lot better
than the banking system like to have
something that make is stable and
doesn’t put it a lot of risk on them in
terms of volatility because most people
don’t like to play the markets and help
me to give them a nice stable % ready
to return because that’s something
people just can’t get these days when I
was a kid I could put my money from
mowing lawns into a passbook savings
account learned % and like to return to
that day and so we created a coin that
does exactly that and that’s the one
we’re going to mark market to the
mainstream and what you’re hearing today
is our plans to take it to the
mainstream which quite frankly is about
a hundred times maybe the market than
the current market that we’ve been
playing it right and so you know even
though the coin it says honest money for
heroic enterprises and I think that’s a
really great
tagline for what the hero is and just in
just a quick little description and a
little nutshell you know and so people
will say what are you II need my honest
money well that’s a really good question
I guess we could talk about what
dishonest money is like money that tends
to lose value over time because
governments print too much of it oh
that’s pretty dishonest and the fact
that money gets interfere dwith
all along the way when you try to send
it to somebody you don’t have the
freedom that you would have just
reaching in your pocket and pulling out
a coin and handing it physically to
somebody we’ve lost that when we try to
interact with people around the planet
so this particular honest money is money
that can’t be taken from you it’s on a
blockchain where no one else can get it
it’s one that’s not backed by a
potential fiction either public debt or
in some cases theoretically gold that
may or may not be present somewhere yes
purple money is money that you actually
can verify as backing because the
backing is equity of the blockchain
company that’s running it I think that’s
a really important part to this entire
thing and I think to selling this on
consumers and people who are not crypto
savvy in general is that this is
something that has backing once I think
most people understand the way that our
current monetary and banking systems
work and they don’t have to have a high
level understanding just enough to
understand it it’s based on fiction as
you just said and there is not a lot
backing what they have in their pockets
were spending their confidence level
would plummet in that system the more
and more they do and I see it whenever
somebody actually begins to understand
that this is a little different in that
there is a value behind it and people
can assess that value and I think that
is really important because I have the
confidence in it and folks that are
watching this right now please feel free
to give us your tape
– because I want to know what’s
important to you when you see the hero
when you think about bitshares when you
think about this system that you’ve got
at your fingertips that you can use to
now take control of your finances take
control of your personal assets as a
global banking alternative of sorts
what is important to you about what what
do you want to use it for those are the
things that we need to know and
understand so when Stan and I go out
there market this and we push this hero
challenge we talk to people about it and
how to use it
we’re able to talk to them about what’s
important so that’s that’s really great
stuff so I’m going to actually go to the
next slide because I think that’s
important – it is a million two billion
dollar club who’s in that club now right
– that’s a kind of important thing we’ve
got Bitcoin you know hit the billion
dollar market cap Club is up and what
we’re referring to here and then
etherium did and in bitshares it’s a
billion dollar market cap Club which is
unrelated but that’s not what I mean by
that’s right that it’s called the
million two billion Club okay basically
swimming if you had a wallet that had a
million dollars worth of Bitcoin in it a
few years ago that wallet would be worth
a billion dollars now can he get hurt
Bitcoin was the first to take
millionaires and make them billionaires
yeah of course if you had a thousand
dollars you had a million dollars too so
it’s a scale to anything it took Bitcoin
three years to achieve that which you
know is pretty amazing you know what a
rate of return from a million to a
billion but still there hams on track
they’re not quite having done a million
to a billion but they’re pretty close
and could make it inside of two years if
they get it done by the end of the
summer so they’re they’re not
technically in the million billion club
yet but they’re pretty darn close and so
we looked at bitshares and said we’ll
wait a minute
there’s a couple things here yeah if
Bitcoin and aetherium did it with the
things they’ve got going for them and as
we’ll show in this conversation we got a
whole lot more going for pictures than
they do then one would ask why wouldn’t
we expect the chairs to do that same
thing if bitshares does do that same
thing and we can sort of say yeah I
think that’s really likely then why
don’t we build an entire marketing
campaign around the fact that hey that
could probably happen and has happened
without such a marketing campaign with
Bitcoin and probably aetherium why not
build a marketing campaign that assumes
that will happen and put a billion
dollar prize out at the end of it so
that it becomes a self-fulfilling
prophecy and that is the idea that you
know inspired everything that we’re
talking about here because we can prove
that coins do this we can show people
that we’re better positioned than either
of those two were before they did it and
we’re putting a marketing campaign
behind it that is unequaled in the
industry yeah I agree
um it is interesting watching the
Bitcoin jumping in-you theorems up and
now you know here we are at the presses
the technology as you just said it’s
completely different you know we’ve been
I believe more advanced in the other two
that we’ve been talking about quite a
long time but we’ve been under the radar
you know there’s a lot of folks that
have heard about it and have built some
companies on it and we’ll talk about
then here on the next slide so on this
line right here in and I’ll let you kind
of explain a little bit to it but that
little bump that you see right there is
now this is actually Bitcoin market cap
and their timeline of value right that
we’re looking at right here yeah this is
Bitcoin and we’re pointing to events in
the life of pictures that seem to fit
what bitcoin is doing and that little
tiny blip that we looked at if you blow
that up looks like what happened Bitcoin
back in April of
Levin went from nine million up to
million and then settled back down to
about heck hey does that look familiar
in terms of what happens every time
there’s a big run-up and then things
coming back down to maybe half scale
I’ve heard a lot of chatter on our
community it was really excited during
the run-up that we just experienced
around June th where we had a boom
like the one that you see over there in
the second side the first boom just went
up to in some million at the time we
looked at it in May and now we’re
Michael’s touch highlighting you see
that we’ve already had our go above a
billion in back down to half a billion
so people who are concerned about what’s
happening hey just look historically
what happens when we get these different
booms then there’s always a
recalibration and back up to the next
site so you know if you’re a day trader
well okay
plan on that but if you’re a person who
doesn’t want to take that risk just look
at where we are and that’s what we’re
saying well heck this coin did that
without a global marketing campaign
we’re going to do that and one other
thing we have is quite a few very large
investors who are behind us this time
just ready to jump in so there are a lot
of different things contributing to our
ability to pretty much count on being
able to do what the other two have done
and those are kinds of things we’ll talk
about here today right and that Ben is
very interesting stuff i remember i got
into bitcoin right around this area
right around here but I remember this
jump definitely because I was heavily
involved in Bitcoin at that time
everything Simpson has just been really
amazing two point we’re now bitcoins you
know what’s waiting anywhere between
to almost $, coin absolutely
insane you know a theory on copying over
$ several times $ and bits
here pushing over a billion dollar
market cap multiple times
the last month I’m just kind of testing
the water and I do believe that we’re
about to see from this blip like you
said in June of that we just
experienced right here which is where
we’re at to see this big jump and that’s
going to be really exciting stuff is I
think this is where we’re at right right
in this section right here so really
exciting thing about that I’ll just
mention is all that all that happened
just on its own merits not due to our
campaign our campaign doesn’t start till
tomorrow so everything I’m talking about
here would have presumably happened
anyway there’s a few of you who may have
bought based upon us leaking to you
what’s happening but in general the rest
of the world hasn’t seen this has no
clue what’s coming and that much
happened already on its own so cake
benadryl kheh
absolutely so on this screen and I
really like this one because it puts
into context the technological
capabilities of what we’re talking about
we got over here I’m going to highlight
this and if you want to just go through
it we’ve got Bitcoin right here and
they’re they’re worth the most right now
in terms of market cap and awesome value
corn quote and you got a steering right
here and what’s the correlation is I
think this section right here right
which is the speed of transactions yeah
if there am is transactions per
second Bitcoin is about three to four
maybe maxing out at seven and so I put
them over there sort of on a scale of
you know Bitcoin is how fast can you
walk if they’re in yeah maybe how fast
can a horse run and then clear over off
the chart the various technologies that
that on our block chains bitch air is
steam and you know EOS is shown I
probably should have shown it clear off
the right-hand my speed of a board cube
or something I don’t know but
it would you know it obviously allow us
to scale to where the right-hand axis
becomes meaningless because there is no
limit but the real question I want to
ask everybody is you’re so used to
thinking of number one being based on
the metric of market cap okay but
certainly competitions of all types just
look at the Olympics there’s all kinds
of games where different things become
what the competitions in my competition
comes to the ability to scale they and
all the world’s transactions the
technologies we see along the bottom
x-axis there are the ones that as far as
I’m concerned determines who’s not who’s
number one not not the instantaneous
market cap that might tell you the
market cap rate is a an indication of
past history it doesn’t really tell you
anything about the future or not much
what tell you about the future is the
x-axis in terms of what is the
performance of different systems so I
would argue that the technology is that
we’re promoting are number one and
Bitcoin is you know clear back at the
beginning and as I’ve always said I
salute Henry Ford for developing the
Model T but don’t drive Model T’s
anymore if I’ve got a starship I can
take absolutely and that’s that’s a
really good point that puts it into a
very good context I think for a lot of
people when I heard you say that the
first time I kind of chuckled a little
bit but it’s so true enm thank you Henry
Ford II now and take you right brothers
you know and Leonardo DaVinci to but I’m
not flying what I think it draws
Atlantic or even taking it up anywhere
around here either for various reasons
and it makes lesson and I would like to
say you know when people start
understanding technological capabilities
of what we have to offer when people
start understanding not just the tech
but just the ability to save their
assets and to have more control over
them and to have personal freedom of it
I would like to see the value
six years and steam videos continue to
rise and I guess have that value be
recognized in terms of market cap and
marketability then that would be really
great stuff so on this next slide well
just a minute
guess what lacquer we got feels a little
robot sir I’d like to just mention yes
sovereign software companies you know we
have a collection of people on this call
that may range from people who have been
with us for the past four years and
basically we started four years ago
tomorrow on July fourth the development
years so long history with some people
but some people just joining us and
certainly all the people who want to
reach with the hero had no idea what the
benefit of a sovereign software company
might be decentralized a communist
company is what we called it four years
ago but I’d like to emphasize the
sovereign the idea that these companies
sit out there and cannot be interfered
with by anybody and he government any
power any big bank that’s what bitcoin
was originally designed for and all of
these block cane based systems are
basically there because they’re built
out of a whole bunch of computers
scattered around the world to check each
other and no humans can corrupt because
their robots are all checking each other
and the robots are programmed to be
robotic ly honest and therefore we’re
relying on that but here’s the other big
factor if we were to try to go out and
sell that to the average consumer today
that doesn’t realize how much at risk
their money is in the current system
even though every decade we’ve seen some
major currency collapse going back as
far as you can remember but people just
don’t have memories that are that long
new people are coming along all the time
and T the Great Depression and the all
the inflation’s that happen somewhere
really don’t enter into people’s
consciousness so if we were to try to
bitshares as we have for the past few
years as being really high performance
and really incorruptible guess what that
falls on deaf ears a lot of people
that’s why we invented the hero we need
to meet people and solve problems that
they care about once they’re there we’ll
teach him about the other benefits and
I’ll never want to go back but that’s a
fundamental difference in our marketing
strategy coming forward in the coming
year and what you typically see people
out doing various interviews and so on
talking about their great new blocking
most people don’t know what a blockchain
is and don’t care to find out but if
they can go get % on a passbook savings
account and maybe that’s worth learning
about and so that’s the big difference
in our approach yeah okay and in that
that puts in a lot of perspective – how
many people here understood kind of the
approach behind that that we we want to
be able to we’ll take the power away
from everybody – correct or control it
and this is a way to do so how many
people here are getting that I see I see
people enhancer down there so awesome
now we had a couple of questions they’ll
answer a few of them – so he says hero
works the same way as bitusd apart from
different interest rates we’ll cover
that here in a few minutes
somebody’s saying I think for block
change in general it’s super important
to have developers be cool for developer
like me that just starts out in a black
teen area to have video tutorials to get
started with bitshares yet I think that
those kind of things are are coming in
the future
now that now that more people are
showing some interest in it you know we
do have some core developers who’ve been
around for a long time some of them may
be on this call there’s other folks that
have been on here working with us and as
Stan just mentioned and chewing on the
slide different spin-offs like steams
kind of spinoff from what was started by
EEOC is kind of a new interation it’s
kind of Richard on steroid and then some
and with Daniels new project with that
which congratulations on I mean over
million dollars donations within the
first few days and stuff like that
great I think it’s on track to be one of
the biggest I SEOs if not the biggest
ICO in crypto history which is going to
be kind of fantastic thing so many much
in pure plays which is another spin-off
by Jonathan and the rest of his crew and
there’s a lot of other developers again
at Stansted who’ve been in the bitshares
ecosystem working really hard to develop
separate companies that help build on
what we have to offer to bring in more
people open ledger Ronnie over there and
other people we’ve got you know the
remedial projects and other folks that
are trying to bring in and trying to
build out the ecosystem so folks can
on-ramp off ramp and do different things
within here on this next slide and it
let me Google or get rid of that drawing
is again in perspective of the
technology in and of itself but this is
really this is a really important slide
because of what we discussed go ahead
and go over what you want to that I
wanted to take a minute on what I think
is really important on this particular
slide okay well there’s two things that
are being talked about one is just the
total time it takes or the total
transactions per second it can happen I
think most people have noticed Bitcoin
with seven transactions per second and
aetherium with those are good for you
know experimenting but it doesn’t scale
so you put a big task on to it like for
example a big major crowdfunding
activity suddenly they clog up and have
to start rationing their bandwidth
because they can’t get everything done
and that’s what’s driven up the price of
doing transactions on those networks but
generally that’s what you get throughout
the industry and if you look way down in
the bottom right corner the three little
bars are shown in that circle compared
to the total capacity that bitch shares
brings to the table yeah it’s not even
in the same league all those little bars
you know
that are about the same size as the dash
bar over there are stacked up to
represent recent stress test
that we did that’s not a limit on how
much we can handle that’s how many
transactions we were able to generate
and the system didn’t break a sweat
theoretically in the laboratory we have
shown that the technology has the
capability to go up to ,
transaction per second if people out
there just switch to you know
state-of-the-art processors that are
commercially available that’ll happen as
the actual usage picks up note also by
the way someone’s asked about peer
players I put a little peer plays symbol
on that chart over on the right and area
just as a salute to them but yeah they
do count to using the same technology as
bitshares and steam it enhanced with new
features I’ll let you talk about the
other circle there Michael yeah you know
I I really like this one uh first of all
I stand pointed out you know we got
seven you know transactions per
second transactions per second
those are all great but again you cannot
replace a global financial system be a
global banking alternative even even
really do a decent amount of
point-of-sale transactions per day at a
busy company let’s say Starbucks for
instance you know and be able to run on
any of these networks Bitcoin Siri or
desk you just can’t do it I just I don’t
see a way to do it and I’m in e-commerce
you know I’ve done this stuff for years
I know people who run websites that have
you know tens of thousands of
transactions per day ease easily when
you start adding up one company with
, transactions and maybe have a
hundred of those companies that have
, transactions what’s that do these
networks what’s going to happen is
exactly what you seen happen in the last
days you see large crowd funds
icos but it doesn’t matter that it’s ICO
you see a large amount of transactions
now their fuel
these IPOs that are coming people all
want to jump in so they’re all pushing
all these transactions to these networks
but it doesn’t matter what it’s fueled
by the ICO is feeling it but what it is
in general is always transactions coming
through the network just like any other
financial network like Visa MasterCard
or anybody else and they’re clogging the
network and are causing the network to
shut down go slow
exchanges that are trying to exchange
those types of currencies and critical
assets unable to trade those assets
customer support departments being
clogged to the point where there are two
three four weeks out in support tickets
people sending assets to convert from
one to another having those assets
hanging ether so to speak but maybe
maybe not intended but now it those
things happening those things happen big
problems I don’t know what’s going on
here I got a something that’s not happy
those are all issues that you have to
address and those are things that I saw
Daniel attempt to address years ago at
Bitcoin conferences in Austin in Las
Vegas and other ones where we brought
this up in side table conversations on
stage through keynote addresses and
these were things that were not taking
it seriously when they should have a
thing now here’s why and this is the
second part of the graph that you see
here if you see the cement bitshares
section right here this circle what’s
really interesting about that is this is
peak transactions per day what I think
we almost hit either ,
transactions just on bitshares last week
in just one day which was pretty amazing
since almost a billion transactions in
one day on the good shares Network alone
that doesn’t even include steam it
boring of the other projects your honor
so what you see here is that schema and
viscera speak transactions per day
totally eclipsed experience and
any of the other crypto assets are out
there in fact if you take the top or
or even
thirty crypto assets and PI on all of
their transactions per day together
pictures and scene it’s still eclipse
them and we can handle all them what
that also means that all of these IPOs
that are clogging up Syria and
everything like that this is pretty
crazy to think about but every
transactions that’s done and all of the
major cryptocurrencies combined plus the
I SEOs that are happening on a theorem
all the same time could happen on the
bitshares network and it not have the
congestion that is what this means that
is the capability of this network
Daniel force saw things like FEMA for
instance and I think this is a really
great example of an argument for using
bitshares graphing blockchain technology
for industrial and commercial usage FEMA
is a social media platform you know you
have facebook on an average day
thousand lights per second that’s just
like so there’s may include comments as
include people posting things as an
include tags that include any of that
that is just like those are operations
or transactions on any sort of network
you cannot run a social media network on
the other blockchain technologies that
are out there you can run it on pictures
graphing technology because it’s capable
of scaling to one hundred two hundred
thousand transactions per second maybe
even warm that’s what that’s what what
is very important about this slide if
you want to be able to have industrial
commercial usage if you want to have
social media networks if you want to
have actual point-of-sale transactions
happening on network just imagine you
know a thousand different companies
using one point-of-sale transaction
system you know what would that look
like how many transactions are happening
per second or per minute that’s a lot of
transactions it’s not going to be able
to happen on these other technologies
maybe they can catch up maybe they can
hard for maybe they can do that stuff
but these being things these these
capabilities the technology that we’ve
had referral systems to transactions per
second the scalability we’ve had this
for three years
and it’s been out there tested secure
it’s never had a day of downtime this is
what’s important and I think this is
perfect she shines and if people were
able to understand and see this and
recognize it for what it is that’s where
I think you’re going to see that big
jump that’s where you’re going to see
that jump that we were talking about on
previous slide so okay Michael we’re
getting a lot of really great questions
here that should have been we should
have made this chart a lot busier
because it currently we’re leaving out a
lot of things I like to quickly run down
through here and just give some real
bam-bam-bam answers to some of these
questions before we continue if you
don’t mind if I want to be important
okay first question
Hiro works the same as bitusd apart than
the different interest rate yeah it’s
definition is that it grows five percent
against the dollar per year since
and we’ll talk a little bit more about
that coming up but it basically it’s a
market pegged asset works just like
bitusd and next question is you know
what platforms are we going to be
advertising on we’ll cover that coming
up a little bit although a lot of that
is determined by our advertising partner
that takes over tomorrow that doesn’t
mean I won’t write stuff but they’re
going to watch what I write because they
want to manage the brand I mean these
guys are pros and they have access to
every media out there you’ll probably
see when the time is right
mainstream adds like a Geico ad or
something it could happen right now it
says we could use a hero to help medical
marijuana industry yeah there’s a lot of
people in that industry that need a
currency that won’t be interfered with
you would not believe the number of
people Michael talks to on a given week
interested in in that so this would be a
perfect thing for them to use and let’s
see the idea is not to spend BTS so a
good thing to go over is how do we get
cash to spend anywhere
it accepts MasterCard okay I’ll leave
that one to you Michael when we get
towards the end and then let’s see we’ll
just I’ll come back and I don’t want to
repeat every one of them until we get I
wanted to pick up because some of these
will cover in due course that difference
between pictures here oh and it’s cerium
well the hero is basically a asset type
or some type of class on the bitshares
Network Hysterium that is its own
blockchain networking payment network as
well as ether which is its kind of
currency on the network bitshares is its
own network and also a denomination or
currency or share on the network as well
kind of like Bitcoin is its own payment
network as well as a currency on the
another question some merchants accept
Bitcoin which is what makes it so
valuable though merchants accept the
hero ah very interesting many things to
be said about that it turns out that
accepting Bitcoin directly is going to
become a thing of the past it’s been
bitcoins advantage as you’ve indicated
but more and more payment systems are
abstracting that out and accepting
dozens of different currencies so that
it doesn’t become necessary for
merchants to be aware of what digital
currency is being used Michael’s got a
company that will load a debit card from
any of the main currencies including the
hero and you can then just go spend it
in debit card anywhere you want you can
see that in video com so it doesn’t
matter is the bottom line long term that
that advantage Bitcoin has it goes away
but keep in mind by the time the hero
and bit sure is this number one will
have that advantage if we ever needed I
agree and also it’s maybe not
necessarily to be spent to I don’t want
to be giving advice on what to do with
your money or anything like that
me personally I see the hero as
something that I would put my money into
and keep into I wouldn’t necessarily
spend it but I want to spend it I might
move some out in
to something that would be more
expendable but the hero is supposed to
appreciate at an average of five percent
per year so if I were to be spending it
I’m kind of spending my my nest egg
that’s appreciating rather than letting
it sit there and accrue so I see people
as holding the hero more than
necessarily spending it but I do also
see people you know doing some
transactions and I see people holding on
to it as a savings more than anything
like that but I see other people who
talked about accepting it as payment
I’ve accepted it already as payment but
I didn’t cash it in I saved it so you
know I would be willing to accept
heroes’s payment for different things
and how many people here if you guys
know about hero’s would accept a hero
think you know let me know because
that’s important to us too we’re
actually considering paying people in
heroes for different asks so you know
that’s something that’s important to us
what’s the let’s see what are the hair
max go ahead yeah that’s what I was
going to talk about next what are the
drawbacks of the DAC Eugene management
this is actually an inverted question
because if you look at the management
issues Bitcoin has it cannot even decide
what the blog new block type size ought
to be Richard chairs has upgraded many
many times during the past few years
with new features the community has the
authority to decide to do an upgrade and
make it happen very quickly so it’s
actually an advantage although
technically bitcoin is a deck it’s
decentralized it’s autonomous and it’s a
company whether they realize it or not
it’s just a very simple company and it’s
unprofitable and it doesn’t have any
kind of a management methods now one of
the true interesting challenges is to
improve management because when you
decentralize management you pick up the
the lack of immediacy that you know at a
dynamic company with Steve Jobs
at the head of it who can make an
instantaneous decision I don’t get that
type of flexibility and so you’re always
limited that if you give any system that
much power it’ll probably run away with
you and become corruptible by some other
outside power and using that against you
so it’s a compromise but bitshares is
actually one of the most successful
government systems that you could get
and still remain highly decentralized
right that’s that is very important and
that’s part of this part of the problem
I guess and part of this solution that
we have here is that we don’t have that
central authority we don’t have that one
person that can go and just make that
decision and there are times that that
is really really good you know when
you’re worried about corrupt ability and
stuff there’s also times when it comes
to pivot that you’re not able to do
quite as quickly and maybe that’s the
next problem that we need to work on
solving is how to get the folks that are
voting in the delegates and everybody
that are on this part of the system to
be able to move a little bit faster and
in those times be able to vote for
initiatives and and workers and things
like that and proposals that we put out
on the network but that’s also part of
the strength of this network is the
governance of the network the way that
we have governed it the way that it has
been governed by the people we don’t
always agree with each other and believe
me there are definitely some decisions
that are made I am NOT the most pleased
with because it’s made what I feel is a
adoption of bitshares a little bit more
that’s my opinion you know and that’s
not the overall consensus of the rest of
shareholders so I you know I accept to
ride that out and hopefully they either
see the light or something else changes
or something else happens right it’s
kind of it’s going to how it works well
this next slide a good one because it’s
kind of about the guy responsible for a
lot of this now there’s a lot of folks
that have worked on pictures that are
responsible for what it is today
absolutely but I think the person that
dassault starts with is this guy right
Daniel armor which is Stan’s son and
Daniel again if you guys have seen us
speak previously but I’m going to just
say again that Daniels really owned
those guys who impressed me on such an
intellectual level the first time I met
him and then subsequent conversations at
everyone since then I always have value
any time I’ve been able to spend with
him personally together with him
physically or even on any conference
calls and we spent a lot of times on
conference calls in the past when um
bitshares is being developed in the .
everything features what I gathered from
all those conversations is that he just
has this vision there’s so much far
beyond the scope of most people what
they’re able to see or even care about
we’re going to be able to implement work
and he’s able he’s been able to do that
over the last few years particularly and
I’ve been starting to see a pattern of
him stair stepping everything that he’s
been trying to do he’s building this out
in increments he realizes that you can’t
build a whole thing out in one piece he
had to build it out in pieces and parts
in order to get the whole thing into
play and I see what he’s doing now
and so Victor’s itself was a was a huge
jumping technology if you look at
blockchain technology and everything
that we’ve discussed so far on this call
you see that this bitshares blockchain
is the most technologically advanced
most scalable for commercial and
industrial purposes and in most
application technology it just is and
this was a few years ago since then he
was able to create the steamin platform
which is again another technological
success it then showcases the ability to
have that many transactions per second
that in a blockchain that’s not just
used for currency or crypto or anything
like that and in and of itself with this
entire social media network that also
has its own asset or currency that rides
on it and that in and of itself is huge
to to be able to
that and make that leak from the
bitshares system and the decks that we
have to steam it and now te OS which
again I believe is going to be on track
to be the largest donation and
contribution ICO in crypto history it’s
going to it’s going to get there I
believe it fully it’s only been what
five six days out and it’s already in
some of the top five or ten that have
ever launched and it’s still got another
three hundred fifty something days to go
so we’ll see what happens
I myself am really excited about the
advent of that technology and what it’s
going to do for bitshares what’s going
to do for blockchain technology and the
world at the hole Daniel you know and he
said this ever since I met him is that
you know he and his principles and what
is his goals are secure life liberty and
property for all freedom you know to
make your own choices without third
party stepping in or people getting
involved and that that was really great
and so like I said you know he really
impressed me first time we met he talked
about everything from flying velocity
and technology to the insurance industry
entertainment to medical records to you
know everything I think we’ve even
talked about like DNA sequencing and all
sorts of craziness you both this is the
stuff that blockchain is capable of and
years ago when I met and that’s what
turned a light on for me I thought to
myself this is way past Bitcoin we’ll
wait a minute here
I get it now and that’s why I’ve kind of
just worked alongside as much as I can
to promote bitshares and the
understanding of this technology and
getting some sort of adoption or usage
or anybody that to really understand or
shape any sort of course in this so
that’s why we’re here and Daniel I mean
he he walks the walk and I don’t know
what else I could say about him other
than he is one extremely smart person
that has a lot of convictions too and
it’s based not just on his word for his
actions and that I can appreciate quite
a bit so I’ll quit
quit on that slide and can move over
this one and this is a good timeline of
what he’s done I’ll let you kind of go
over this a little bit and then I’ll
fill in it through thinking four years
ago tomorrow we started a company dan it
was the vision behind it he got some
investment from a big investor in China
within five months on September th Guy
Fawkes Day or November th Guy Fawkes
Day introduced proto shares which was
just a clone a Bitcoin but it was a way
for people to own a coin that could then
be upgraded to the destination of
over time so it was the role ETSI
Stiletto yeah it’s it was an early crowd
funding mechanism a distribution
mechanism where people could mine coins
and so a lot of bitshares distribution
comes from the same type of mining model
as as Bitcoin but within a couple weeks
all the big Bitcoin miners were turning
their power over onto that day we put a
few hiccups in there to make it so they
had to modify their code but didn’t take
them that long to do that and then
suddenly they were sucking up all the
proto shares just like they suck up all
the Bitcoin and selling them into the
market so we came to the understanding
very quickly what’s the point if people
are selling them into the market why
don’t we just sell them into the market
and bypass all the mining mythology that
even today over half the bitcoins out
there are mined by three companies and
sold into the market so that’s where we
started the trend towards initial coin
proud sales that’s where the model
that’s being used right now in the eos
distribution was first invented in
something that was called angel shares
at the time which gave people a chance
to compete for a small group of shares
every day for a hundred a period and so
oh this was
very cutting edge at the time and now
everybody’s doing it but what happened
is a year or so later bitch Ares came
out and it started running and proving
that you could put an exchange on a
blockchain not just a coin and a whole
smart coin factory for that matter
then he went back to the drawing board
and decided to accelerate it and a year
later came graphene which pitch here is
upgraded to and that’s what gave us the
Lightspeed performance we’ve been
talking about and steam it then pure
plays spun off using that technology and
now when EOS comes out about a year
pitchers will just adopt that technology
that’s huge because the other
competitors out there are still stuck
back saying we can’t upgrade
why can’t Bitcoin upgrade to this
technology right now because it’s run by
miners and the miners make make money
and they have a monopoly on it a few big
miners so it can’t upgrade to something
that would eliminate those miners it’s
stuck in the Tar Pits but we don’t have
that need to stick with year old
technology we have demonstrated a smooth
three second upgrade multiple times and
that’s what we’ll do a year from now
when EOS comes out we’ll do an upgrade
to that technology while continuing to
keep everybody’s ownership in the in the
current system intact not change which
is really saying that’s the disagree
point is that only son of lot teams have
been unable to keep up with changes have
been able to keep up with and pivot with
what happens in the world and I’m sorry
you know it as a business owner and
being in business you have to be able to
adapt or you will perish that’s just the
way it is this years has been able to
adapt and continue on and not just adapt
but to evolve evolve blockchain
technology evolve the way that people
market their blockchain businesses even
with the ICL model structures that are
out there today and can we did
why don’t people like seoeon bitshares
because they don’t know they don’t know
any better that’s one number two you
know aetherium is a more widely
distributed token so it’s easier for
them to potentially you know have
distribution but when you have these
problems of these ico shutting down
entire payment networks you know when is
enough enough so I see a lot of people
in chat being very upset about Assyrian
and about the clogs the congestion
incoming it took me five days to get
the other day no you know customer
service support help or anything like
that until it finally came through it’s
just because that network congestion
stuff it’s really difficult to do
business like that so they don’t I don’t
think understands and as soon as we
start having some high profile icos on
bitshares i think you’re going to see a
lot of people looking at it and say
that’s where I should be at and that’s
something I’m working on personally is
bringing my profile i ciose to this
year’s network over the next six to
twelve months I’ve got about fifteen to
twenty very very good i SEOs that are
lining up and we’re just getting ready
to put together the right team we’ve
been putting it together now for the
last month we’re going to have the right
team to start pushing these out on the
network in a very thoughtful good
marketing campaign of good businesses
but yeah now I think we’re going to have
to move along because I’ve got about
another half hour and then we can leave
you answer all the rest of the questions
if you want I like to get to the answer
a lot of questions excuse me the big
elephant the room question a lot of
people are asking is if this is so good
why aren’t people using it and the
answer to that is because we have not
had the marketing in place to do it what
are the strategic alliances now one
thing I will certainly say that clean
aetherium have done their homework those
teams did make good alliances and as a
result they got a lot more adoption
our approach has been if we build it
they will come and it ought to be clear
that building that system is not good
enough you’ve got a market it you got to
make strategic relationships and we’re
finally doing that we finally got a team
in place that has brought in an
unbelievable number of supporters and
investors and marketing power and we’re
going to start leveraging that so once
we do that we think that we’re going to
have all the market liquidity and
everything else people expect in order
to adopt something the only reason
people use the etherium is because it
had more raw money sitting inside it
they could be spent on the ice ago once
we do that same thing that limitation
goes away and then people will pick it
based on performance we’re seeing people
move from ethereum already and so we’ll
see that become an avalanche in Cibola
there’s actually some of the top
bitshares markets out there and you’ll
notice that since we look at this hero
has appeared in two places those markets
are now becoming more popular although
they still lack a lot of liquidity that
will come once we get some marketing but
Swabians been building a bot that will
help keep that market making function
alive and that will help improve the
liquidity and that’s necessary before
big sponsors are willing to put a lot of
money into it because anybody that has a
lot of money doesn’t have time to sit
there all day keep adjusting the buy and
sell walls we’ve got to get that
automated before things will pick up and
work as smoothly as we like and that’s
coming up in the coming month yes that
is coming up in the coming months so we
do recognise the need for that and there
are two different groups that are going
to be using the heroes they’re going to
be people who are going to be borrowing
or shorting them in existence of
speculating a little bit more and taking
a little bit more risk for greater
rewards and there’s many people who are
using the hero to just buy the hero
to just have a quote unquote safe-haven
you know to sit inside that and to get
their percent interest per year and to
be comfortable with that so there’s
gonna be two groups of people that are
there and you know group to where
they’re going to be just more concerned
with the percent not borrowing or
speculating or gambling a little bit
more on the market they don’t need to be
educated about shorting a hero or
collateral ratios or any of that sort of
stuff what they need to be educated
about and concern with more than
anything is just being able to have
their money in a safe place that’s
accruing interest in a safe way honest
money that’s backed by something of
value that they can be reasonably
assured is going to maintain that value
and increase in value and that’s that’s
its value prospect for them just as much
as a bank try to make a case we’re
having a interest rate of less than %
on your savings account and people
buying it every single day is that
average national interest rate this
point is zero point two two that is it’s
crazy you know when a hero is percent
and that I don’t think is a very hard
value proposition for people once they
understand that they can just put it in
there and they see that value rise let’s
so this slide right here what were you
doing with on this good – I don’t know
we fluctuating market cap so much per
day right now it’s it’s hard to keep up
with it but you know the point is it
sure is is already out there and been
there for a long time
adding the hero is the thing that can
you know basically give it huge new legs
because it’s something that we can
market to the average person and that’s
huge and with that everything else then
can build a wrap we build around it and
that’s what our marketing campaign can
go now because we don’t have to go
explain all the technical superiority
differences we just talk to people about
some heroes earn % and have a nice day
so we’re leveraging that and that’s what
enables this new marketing campaign or
coming up with food right okay so on
this one you’re going to talk a little
bit about smart coin so the hero itself
would be what’s determined to be a smart
coins people heard about you know smart
contracts maybe you may have heard of
them smart climbs they may have heard of
them maybe not what is a smart way and
well okay best friend we start out with
a dumb coin bit coin I’m not being
purged or ative but bitcoin is a dumb
coin it sits there and gets passed
around but it doesn’t have any
processing inside it it’s just people
traded based like a dumb thing so silver
or gold
whereas a smart coin can be programmed
by a smart contract to guarantee a share
of another asset that’s put up as
collateral to bakit and so you could
make the equation be anything so people
are talking about a definition that
actually oscillates in time for certain
applications and in our case the smart
coins mostly say this coin is going to
track the value of some of the fiat
currency like the dollar euro yuan
whatever but with the hero it actually
closed in a growth factor of % annually
and so it’s equation is a little bit
more sophisticated and a smart coin is
simply something whose value is defined
by a smart contract in terms of another
asset that backs it that’s interesting I
know I am the next one we’re going to
shoot some more about the hero and how
the value is determined and all of that
on this slide you know that what’s
really cool about this is that you do
get to see the usage of smart coins
catching on quite a bit and the orange
one is bit CNY so it’s actually Chinese
currency right that’s that’s paid to the
Chinese yon right and so if there is
their reviews I mean they’re very
I into that that’s I mean I got a screen
over here at some point but you see a
lot of bit USD see bit see and why you
see some euros but you I mean you see a
huge spike in the last is this is this
weekly here yes right every week for
yeah thatis that is crazy I it has an
absolutely crazy and you do see a live
volume I started checking the volume of
the market I’m using and there’s quite a
lot of people that are putting money
into become our coins because they are
paid to the same currency that they’re
used to so that is another value
proposition people know what gold is or
euros USD they could put their
cryptocurrency into something like that
that’s easier for mass adoption this is
something that we were arguing in Las
Vegas and Austin about price table
crypto currencies when we I said I
remember sitting there watching Daniel
talk about unveiling bitusd and holding
the pig steady and it was so funny I
watched a video the other day and I was
thinking about Erica da audience when
this was going on and some people know I
didn’t got it a lot more of them could
not wrap their minds around how a
cryptocurrency could have a stable value
and it still to this day I see people
getting to this look on their face like
how is it possible so I think it’s
possible through a smart coin to respond
contract and through what we built right
years ago here so this is a good example
right here display which is the hero
this is a smart coin with certain
capabilities you’ve got bitusd pages of
press the US dollar of value of the US
dollar figure Oh same thing big gold pay
the price of gold gold gold goes up and
down that coin where that token goes up
and down with it
right so that is that it’s a smart coin
bit Bitcoin value is determined by the
market if you traded it any value for
smart or it’s a dumb coin right does it
have any sort of capabilities or values
or anything like that what is different
about the hero from a smart coin of like
a bit USD to what we’ve got
with the hero farmer well you know the
big thing about the hero if you look at
this chart you’ve seen the part done at
the bottom it shows how the dollar has
decayed because of people printing money
but a reserve took over in and has
been steadily eroding it ever since if
we define the hero as starting the same
day the Federal Reserve took over
December a date that will live
in infamy and instead you said ok we’re
going to grow at % every year relative
to the dollar what you see there in that
upper curve is what the hero would have
done if we had started it at that time
and in fact that is its defined value
today which is upwards of one hundred
and fifty five dollars or something on
the market right now because it’s
defined to have grown along this path
and so it doesn’t mean that its
purchasing power doesn’t go up and down
but it’s biased towards growth and that
was the innovation that we put into the
equation to make the hero attractive to
the masses because if the choice is to
hold dollars or to hold the hero and I
think we can sell that as a better thing
to do and that is the giant sucking
sound that moves Fiat into the bitshares
ecosystem I really agree with that too
when when finally clear for people you
will hear and I heard you say that
before a million times it makes me laugh
every time the giant sucking sound going
anywhere ecosystem you know that that’s
what I want to hear that’s what I’m
really compared for and that’s you know
so the value of the US dollar now is
like what was like and some change
it goes up a little bit every day
because of the way that this formula
works the value in and of itself is
supposed to continue to rise up every
day so people I see questioning here
saying how the bikes and interest rate
relate to a coin that will probably have
a large trading range buying best
now it seems the coin would write farm
prices totally dominate % not sure
what % is related to pike centrality to
the value of the US dollar so % what
one of the things that the % does is
define what the force settlement value
is yeah and and that’s the only thing
that is fixed is the price that you can
force the system to cough up that many
bitshares at that price yes it can
fluctuate around that with supply and
demand and as supply and demand grows
that should become more stable but not
absolutely stable because if there’s
more supply than there is demand the
price will sag and it’ll also grow but
you always have a point of reference of
what’s backing it and that’s the key
what is backing it is bit shares that
are held in escrow on the system and the
system promises that if you want to
within hours you can cash it in from
the system you don’t need to find a
buyer you can cash it in from the system
for that specified price and that
specified price is what grows at %
right that’s that’s really important
parts of this actually so I’m glad you
mentioned that is that they don’t have
to find a buyer they can settle out
whatever they want to holding that
geared up for bitshares
and that’s a valuable asset as they can
go trade they can go spend they can go
load into their bank account what with
their debit card using the remedial
service that we have or there’s other
ways to do it so this is something that
and actually be able to get the money
relatively quickly too so that’s let’s
see why not market the hero to exchanges
as US dollar alternative that’s probably
what’s going to happen here after we get
more volume and some usage out of it and
more and more people holding it we’re
going to hopefully see other exchanges
not just picture this changes maybe some
other ones participating in that because
they see the value of holding those
heroes because even those exchanges can
and getting that extra % but if they
want to let’s kind of go on to a little
bit more site I know you’re under some
tyson straits here so we’re now we’ve
talked about two different kind of camps
for for the hero the savers who just buy
the hero’s so they have something that
is accruing it at a reasonable rate of
appreciation five percent what are what
are we looking at right here which is i
think the other group of people that
speculators i’m really really happy with
this chart because i finally found a way
to explain this it’s not complicated at
all well you all know how to get a home
equity loan you go to the bank you give
them the deed to your house and they
lend you money and if you don’t pay it
back they take your house easy peasy
right we just found a way to take that
loan if you will and loan it in the form
of a coin called the hero and we instead
of giving the lead to your house to the
bank you give them control of your
bitshares so you still own them just
like you still own your house but
they’re locked up as backing for the
loan you took out and the loan is in the
form of this new coin with all these
wonderful properties we’re talking about
and you can go spend it and when you
spend it it circulates just like another
backed by your equity which is locked up
so that if somebody needs to ever cash
it out they can and the rest of the
system is just the blockchain managing
that banking function of locking up
escrow and putting a coin back by that
escrow in the circulation now in the
event that bitshares double in value
when the time comes to pay off your loan
you’re only going to need to have as
many of them to pay it off and so you go
out on the market you buy a hero for
half price because the coins of herbage
shares have gone up by double let’s say
that you got it for half price you can
go pay off your loan and guess what you
just made it appreciation that’s the
same thing people do when they take out
a mortgage on their house and then they
come back ten years later and find the
housing prices have doubled and they pay
off their house with cheaper money and
that’s all profit and that is the
motivation for people to borrow because
they think the cherries is going to go
up of course if you take and sell your
coin in order to buy you know cases a
beer or more batarus whatever you want
to spend it on and if the chairs goes
down now it’s going to cost you twice as
much to buy that hero back so you can
pay off your loan that’s just like the
housing market collapsing and leaving
you stuck with a difficult time paying
off your loan so all we did is make that
an automated process and what the hero
becomes is something back buy assets
stock in the bank if you will in this
case the by tears Network and now you
know if you were backing it was gold in
a bulk how do we really know that
there’s gold in Fort Knox or that a bank
hasn’t sold that gold gold to five
different people or a fractional reserve
eight or whatever in the bitshares
system you can see that every one of
those heroes is backed up by at least
twice the value of it so that when the
time comes to cash it out you get a full
hero’s worth of those pictures that you
can sell and the person who took out the
loan gets the rest which hopefully will
make a profit but if not they take the
risk the holder of the hero doesn’t take
the risk and so it allows two kinds of
people someone who wants to bet on
bitshares going up they take one side of
the bed and the other person says I
don’t want to risk it going down so they
hold the heroes and they just swap what
the benefits are the two points buy a
smart contract
that is enforced without any
counterparties yeah yeah pretty much um
welcome question to this infamy it’s a
preteen five percent well the five
percent comes out of the settlement cost
if we just sit statically and let’s say
the cheers doesn’t fluctuate and I took
out a loan when I have to go pay that
off the value of the hero has gone up a
five percent over a course of a year
that means that the escrow I set aside
is going to not going to have to use an
extra five percent of it to pay it off
and I would have when I first did it I’m
counting when I do that that I can grow
faster than five percent the bitshares
will go faster than five percent and in
particular we’re saying a factor of
, like Bitcoin theorem have done and
so if we can show our plan to make it
grow that fast a lot of people will want
to issue the heroes and that will make a
big supply available to people who are
retirees who just want to secure savings
and when those retirees spend them they
just transfer to someone else with loan
stays in existence when someone wants to
force cash it out they can do that but
by then the back people who took that
that I’m making is it will have grown
more than two and a half percent
remember to double the amount packing it
so you don’t have to go two and a half
percent to get enough to pay the five
percent right so it’s a pretty good bet
that it’ll grow two and a half percent
not guaranteed and we see examples if
you look on a very narrow time window
where you could go backwards so you want
to make sure that you have extra
collateral put aside and we’ll talk
about that a little bit right that’s
that’s important stuff so again if
speculators are betting on the value of
pictures rising enough to cover that %
and then some that’s really what what’s
going on there
okay so that answers a big question
because a lot people have that too let’s
see here so he says is this % times the
current value of the US dollar
five percent regardless of the current
value of the US dollar is five percent
at the u.s. dollar at since then
plus five percent
Acy so if the value of dollar plunges
the value of the US dollar plunges right
now half of what it’s worth in the euro
is going to be worth half of what the US
dollar is worth from up until this
point so if let’s say it’s worth six
right now be worth half of that pretty
much right it’s not because it’s defined
in how many dollars you get and if
dollars worth half as much then your
values half as much the hero is not
guaranteeing that if the dollar
collapses it won’t follow it down though
this collapse five percent less but in
general during normal times the hero is
useful for canceling out inflation and
in the event that the dollar collapses
guess what people who issued the hero
make out because they they’re the ones
that get the benefit of a collapsing
dollar so I was going to actually
mention I did see a lot of folks but
basically borrow a bunch of heroes into
existence when the price of pictures was
a lot higher and then I saw them selling
them at a premium when bitch your
started going down I saw the heroes go
up in value they went up from whenever I
think they were like I’m $ or
something like that when pitchers would
continuing to go up and I saw people buy
them for dollars ever a hero
so people were making $ per hero just
on those sales when the market turns so
even the speculators who borrow those is
the indie existence took that risk they
flip that risk back over and made money
on the downstream yeah of course they’re
taking the risk if it keeps on going
down sooner or later they’ll get margin
called and you know have to pay the
piper but if they’ve got adequate
backing behind it they can weather the
storm and if their long term bullish
they can make money on both sides of
that because anytime the market is
dropping the hero is rising because
people want it as a
place to weather the storm and right now
because we’re just starting it weren’t
enough to go around so people were
fighting over them and that means of
premium price habits here’s an example
of levels of risk because sometimes
people I don’t really understand what
why they’re buying things and so we’ve
seen some fluctuations just because we
didn’t do a good enough job of
explaining it to people so let me try to
remedy that here there’s several
different levels in this contest we have
by the way no purchase is necessary you
can play the game that we’re going to be
talking about and earn free Rose which
is just a dumb coin that we’ve created
that allows you to earn points for doing
certain things in the contest and those
help those count towards winning the
contest but not as much as some of these
other things the things that are higher
risk gets you more points and require
greater expertise if you’re playing in
the contest so buying a hero is a pretty
lowest thing to do because it’s backed
by twice its value in pitchers at least
and backed by the the entire platform
with no counterparty risk so you can buy
that if you’re a retired person and
it’ll be you know it’s not completely
risk reading the whole world could
collapse and and the dollar could
collapse and things can happen but in
general in the whole digital currency
space the hero is remarkably safe by
comparison to say buying Bitcoin which
could fall in half any given day it’s
been more stable cently but it could the
next step up is if you’re recognizing
the fact that we’re putting a contest in
place specifically intended to cause
people to learn about the hero and
pitchers and anytime someone buys a hero
it’s putting demand for someone to buy
bitshares to make another one to replace
it so everything we’re doing is driving
is intended to drive the bitshares up by
factors of in the coming year or
two and so buying bitters and just
holding it don’t
anything fancy if you’re not an expert
you’ll have to clear up to the next
stage but just holding pictures it’s got
flexibility we’ve seen it go way up past
and we’ve seen it come back down with a
half % correction
yeah that can happen but over time we
think that’s a good bet
if you can stand the volatility in the
meantime and then at the ultimate high
level if you’re an expert you can borrow
heroes into existence and use them to
buy more pictures and that gives you
leverage double the risk but you know a
chance to really make out good but you
got to pay attention to it and we got to
discourage people from doing that if
they don’t know what they’re doing just
stick with one of the lower levels all
of those things will contribute to
scoring points and notice that you’re
not giving your money to anybody else
you’re just building your savings
account up with a basket of these
different kinds of assets and holding it
as your savings account you always
control it the only thing the contest
does is give you credit for doing
responsible things learning how to use
our system and that controls who wins
the ultimate prize which charity or
other good cause wins but you’re not
actually extending any resources to us
or to that cause you’re just saving it
and getting credit you get to determine
which cause gets credit for you being
responsible mm-hmm I think those are
those are great points to an a that’s a
great way to explain the natural
progression of understanding for some of
the folks that are out there that are in
the crypto world or understand a lot of
that is just getting a free ro you know
buying a hero buying some good shares
and a piece of actual network and shares
in a network and it actually leveraging
those and getting some heroes borrowing
the existence showing into somebody else
or keeping them or using Leafly mortgage
shares or whatever they’re going to do
with them um this is the this is a slide
that you really like which explains kind
of what you just talked about with
either a person a company and I
vo anyway regular a team of celebrities
that are competing for a billion dollar
prize perhaps something like that can
use this method of what you just
explained so you want to just do a quick
run out of this slide right here an
explanation of it you kind of did just a
moment ago but this is a good visual of
it yeah and I’m going to do it very
quickly because I got five more minutes
but this is just saying that you know
we’ve talked about doing one little
operation but if you set it up so that
you have a stream either savings from
your paycheck a certain amount every
week or if a company has a profit stream
or whatever if you do that on a regular
then basically that stream gets used to
purchase pictures which could lock up in
escrow and you borrow against that
stream to just fund whatever you’re
doing you know to pay your mortgage or
to pay your employees or whatever so
we’re working with a lot of startups on
this model where the investment dollars
come in and get locked up in bitshares
ESCO and they borrow against that to
fund their company
meanwhile the it’s causing buying
pressure on pitchers which makes the
chairs go up in value so that they never
actually spend the company’s equity that
equity is growing and every other
company in our incubator doing that same
thing is all causing benefit every other
company and part of the contest is to
get everybody in the world doing that so
to go to the next chart and look at the
you know yeah look at a imagine every
company and every person out there is
got some revenue stream going in there
into their savings plan and they’re
spending heroes into circulation those
heroes are backed by a growing value of
bitshares and that is the you know
virtuous cycle that causes bitshares to
be biased towards always going and more
we’ll do this the more heroes are taken
out of circulation the more valuable
they become and the less risky it
becomes to do that
borrowing heroes and shorting them into
into circulation so we’re out there with
this contest encouraging and trying to
get everybody in the world we won’t get
them all some people just won’t want to
do something that complicated but a
whole lot of companies we’re working
with will do that and that’s how we buy
us pictures towards growth and that’s
how we get to the likely event that we
can do the growth to a billion dollars
from a million dollars in less time than
it took Bitcoin in this area I got so
look at the very top left corner the
hero backed by bitshares bitshares are
backed by business we’re trying to work
to get a lot of businesses buying
pictures in this model so that they get
lots of growth themselves and that’s
what backs that share is to make sure it
grows so that the hero can be generated
safely by lots of people
all right so could anybody from like you
to somebody just taking some savings you
know other normal paychecks be you know
companies that have existing revenues or
existing businesses can be people who
are doing ICS or crowdfunder anything
like that you take funds that are
putting in their five bitshares
not spend their VIP shares they still
own them generate heroes to them pay for
their stuff
buy more bitshares increase your
investment leverage or whatever is there
looking to do but be able to still hold
those assets and as they’re increasing
in value take more of a loan or take
more of Heroes out or decrease the
amount of collateral they have in their
of their investment right and so they be
able to decrease that down okay so these
are all these are all really great
points that that you’re covering right
here so we’re throwing a contest and
we’ve got four minutes so we’ve got a
billion hero challenges is what the
contest is and let’s explain how this
works so there’s a billion dollars in
and we’re breaking it down to twelve
different teams are going to get a
payout when we hit a billion dollars
credit that’s correct
and that’s that’s measured by a weighted
sum of all the members of each team you
can join a team by simply pointing your
up proxy link to the account of your
team leader and that team leader gets
credit for doesn’t get your money just
gets credit for how much of the
different things you’ve done how many
heroes do you have how many have you
shorted how many bitshares you own and
how many of the free rows have you
accumulated by participating in
different ways to earn free rows that
probably will create a little market for
the pre row of people who earn them and
so the people who want them for the
contest reasons who knows what will
happen there but that’s just another
little side issue like that when the
final value of that prize money which
will get put in place probably tonight
at midnight grows from a million dollars
to a billion dollars then whoever is in
st through th place in that scoring
mechanism will be issued those that
amount of bitshares
for the cause that they have been
championing so their job is to get as
many of their followers as possible to
participate so that not only do the
followers gain their own knowledge and
and savings but their team gets a chance
at chunks of change that they can spend
on something that those team members
care about ok so that and that’s a
billion dollars we’re giving away here
and definitely be seeded by how much is
that going to be seeded or what where’s
that money coming from well what we did
was we picked a point during the past
month where we crossed for the first
time a x growth from our minimums we
started out a couple months ago with the
chairs worth a third of a cent okay and
when it reached a third of a dollar back
on June th we lock that in and said
guess what we’re not going to
that first x growth we’re going to
start the contest there we’re going to
put three million bitshares at cents
into a kitty it was worth a million
dollars at that time it’s come down a
little bit since then but that’s okay
we have to climb clear up to a thousand
times that cents so that’s three
hundred and thirty three dollars is what
bitshares will be worth when the contest
is over and if we can do it faster than
bitshares that’s probably faster than
aetherium in Bitcoin that’s probably
sometime this decade that the prize will
be ordered
I agree you put it in perspective
hitting three hundred dollars for crypto
it’s not that difficult that’s going to
happen several times now so in the
doable entirely doable especially when
you’ve got an initiative behind you so
speaking of initiatives we’ve got a
bunch of different folks that you have
been tirelessly if you’re working it and
networking and moving and shaking and
I’ve done a little bit of work on this
too but you’ve definitely been all over
the place working on this and this is
fantastic stuff so we’ve been putting
together what we’d like to call our hero
makers but anybody can be a hero maker
anybody can be a hero anybody can
participate in this you do not have to
be rich famous good-looking although all
of those things you help so these folks
are what are they doing out here and how
are they helping us achieve this billion
dollar prize well each one of these
persons has a group of fans or followers
or a network of friends that they think
that they can a list toward some cause
they believe in and that their friends
believe in I’ll publish an article
tomorrow that talks about who these
people are but some of them are very
famous super respected people some are
controversial some are unknown
I selected those just to give you a
sampling of the variability but since
anybody can lead a team even five has
put out a post on statement to lead a
team and so over time
I’m we’re not trying to bias gook and
then we’re just getting a few leaders to
sign up to get it started they could win
or somebody could come out of nowhere
and win it and we don’t want to
constrain who can win it whether they’re
the saint or a sinner is not the issue
it’s can they get enough supporters to
vote for them to be one of the winners
and will will let it go at that Brian
Williams is a guy that’s got a big plan
like that to bring a lot of his friends
together to do concerts and all their
fans will be recruited into his plan
that’s just an example of one guy’s job
yeah I do not drive one of the teams
right we’ve got a lot of teams but the
city so he what he’s doing is he’s
putting together a lot of other
influencers that he can use and leverage
and work with to win this challenge
faster and so I think we’re going to see
other people and influencers like that
aligning to be able to do the same thing
and this is a really good example
because you see a lot of people who are
you probably recognize pictures on here
yes all right cool and so this right
here is going to be an example I see
this is an example of the hero to the
pictures market right now correct where
did I lose Stan here oh I didn’t stand
all right so so questions Glen shoot me
any questions that you have right now we
dressed quite a few of them but if
there’s any of them on here that I can
jump on let me know and may have been
lost yeah he did have to go so if you
just mention that previously uh so this
is an example right here of the hero
market as you can see right here the
big-haired X is a little interesting you
know folks are using and starting to get
used to it but like anything else to
work in progress markets are always
going to fluctuate and as I mentioned be
able day now I’m sorry just go just a
little bit ago yeah and the other day
when I changed some folks when you see
the pictures market go down and you saw
the hero jump
and value and it did stabilized after a
little while but people were jumping
over and moving into it as a way to
shelter the storm and way to shelter the
downturn in good shares somebody asked a
question uh am I worried about the
bitshares price up and down or whatever
it’s done recently no I’m not really too
concerned with the the value or the
price movement of pictures before the
launch of the Hero competition just
because it’s July th does not mean that
everything’s going to happen all on that
day and that’s just the beginning in the
launch the start of the competition we
anticipate this competition could be
anywhere from months to maybe even a
couple of years long we don’t really
know what we do know is that we’re going
to continue to fly around to teach to
educate to get more hero makers and
other influencers involved I’m speaking
at several engagements this month and
next month on blockchain and crypto
currencies so I’ve got a lot of media
interviews scheduled and I’m working out
more of them right now
so we’re going to be getting the word
out on this but we need all of your
health just as much to either make
markets if you want to speculate to
educate other people about this to show
folks how easy it is to just be able to
save some of their assets in something
like a hero or bit yesterday anything
but this is about the hero challenge in
general and being able to give away this
money we are putting that money into
escrow with the intention of giving it
all away when we hit the billion dollars
you know we don’t want the billion
dollars we want to give to other people
the whole reason why we’re doing this
hero challenge is to get people to
understand the technology somewhat but
some of them aren’t going to understand
that more so it’s going people to have
confidence in digital currencies crypto
currencies and what value they can offer
them once they get that and have that
aha moment like a lot of other folks
that had on here like all of us did not
start out knowing as much as we know
about cryptocurrency and blockchain but
we all had that one moment where we
started dabbling and then the light
turned on and that’s what we need to get
a lot of these are the folks
understand to it that they can put their
value in something other than us bankers
Bank of America and get interest off of
it and have it be safe and also be able
to move around if they understand those
concepts which they do and understand
the ease of use by it it was going to
succeed Stan and I have lots of plans as
we go along there to hero initiative
moved forward with the company here
anomic we plan on creating a much easier
to use wallet we plan on other
initiatives we have marketing funnels
that we’re creating with our PR
marketing firm out in New York right now
and you’re going to be seeing a lot of
that as we go along let’s see here
any plans to create a customized hero
bit Cheers you interface yes absolutely
we did we are creating bus right now to
increase liquidity standard mention that
Fabien Zurich you guys know him as on
the forum he’s working on those software
bots for liquidity as soon as they’re
ready to rock we will have them out and
going the only way to get a hero coin by
borrowing against or can we use
bitusd you can only get it by using
bitshares right now you can get a hero
coin by either borrowing it using the
chairs or by buying it using anything
you can buy it with the USD if you want
to and then you can settle it and get
bitchy chairs for it so does that answer
your question I hope it does so I mean
if you want to tune that sequence you
have it USD you could just buy a hero
and then settle it out so see how it
does the price shift for hero
if bit BTS go up does a hero goes down
it’s possible and if you saw the
pictures go up the value of the hero
kind of did go down in that people we’re
creating a lot of heroes and selling
them and as with anything else in the
market as they start selling them
they’re going to start undercutting each
other more and more and more in order to
get that hero’s sold eventually pushes
the price down that price pressure but
if you just hold out if you want to wait
for a little bit it’s almost always
stabilized and remember the hero has
just started this whole thing it’s a
smart coin it’s going to hold its
capabilities only we can’t be
responsible for what people do in the
market just if you know people make
crazy decisions see how does the price
shift for the hero okay we can stretch
that is there currently enough liquidity
you buy heroes and current market I
believe there is but again I would like
to get these BOTS out there before we
get a lot of speculators really getting
out there and borrowing heroes into
existence I’m just going to say this and
again I don’t get I’m not giving
investment advice or anything like that
if you’ve got to be borrowing heroes in
the existence for anything right now
you’re going to be one of those
Trailblazers just make sure you watch
your collateral level ever you know I
say every eight to twelve hours if you
can just take a quick look and adjust
accordingly to make sure that you’re
comfortable if you’ve got a large pool
of bitshares and you’re in this for long
term in its win it game for bitter spin
it shouldn’t be a big deal to add
collateral I myself am doing that I’m in
it to win it I don’t sell my good shares
I never have I’ve got a lot of them and
I really care about the ecosystem in and
of itself I want to grow it you know and
so whatever it takes for me to have to
do that I’m going to be doing that and
most people that are shorting these and
doing it believe the same thing based on
conversations that we’ve had with them
but if you care about this contest you
will just learn about the heroes about
about borrowing and buying them about
how it works
Anna Kate other people you know refer
people to the bitshares system and get
the referral fee that you get for using
good shares you know you get referral
fees for that stuff it’s great and then
I help them with the challenge or be a
leader just like some of the folks on
our forum I’ve already started getting
referrals and building out their teams
you know this is all work in progress
you don’t have to be have a team and be
ready to rock tomorrow you guys can
still work on this for the next several
weeks or months and make this happen
let’s see here we plan to create a
simplified wallet to buy the hero yes we
do have plans to create a simplified
wallet spy to hero the wall is the
average wallet
a little complicated I absolutely do
agree I’ve been saying that for a very
very long time
and so we do plan on doing that I I
would love to see you know bitshares
initiative of a worker proposal to
create a more simplified wallet for
richer community in general but we do
plan on doing that for the hero either
way unless somebody steps up in the
victory community and does it and we
could assist in some sort of way or help
pay for it that’s an option – we’re
opening it pretty much anything right
now to grow this because our overall
goal as with anything is to grow
pictures technology network
understanding of it and the uses and use
cases of it from both the best about use
cases of victory technology we can point
to niche areas we’ve put to steam peer
plays all of those are great use cases
most of them are working you know
companies with market cap values of at
least two three hundred million dollars
and up over half a billion dollars maybe
even pictures over billion about two
weeks ago it’s a little bit under right
now but that’s pretty impressive stuff
for companies that just started within
the last couple of years being worth
that much one where’s the forum so I can
follow the forum is bitshares talk org
bitshares Tosca organ just google it
you’ll find it there any other questions
folks and then I will cut this off
string now spin and I will plan on doing
some more of these we may even get into
the wallet and actually do some
borrowing and trading of heroes so you
guys can see it live in action as we go
along but again we are going to have a
replay of this in a couple of hours I’ll
be answering questions in a chat you
guys have me feel free to ask them in
there I’ll be answering them I would
really like all you folks to just send
as many people as you can to this
reporting if you if you’d like to – the
link to register for it and we will be
doing a replay again probably in about a
week or so after in the United States I
know not every merica here absolutely
fact more non Americans probably than
not but there’s a lot of people out
me mailing this out to a mailing list of
about , people as well as dropping
it into some cryptocurrency groups on
LinkedIn and Facebook them and members
up that will be getting subtraction on
here so I would really like to get
feedback on this presentation folks is
anything that you think we can add some
folks that they’d like to see us update
the smart coin slides will update that
we’ve actually updated it three times
and you have to continue to update it
but we’d like to really jump on and do
whatever we can to help you guys out
that in either educating others
answering your questions make sure you
join our telegram channel we have the
bitshares dex channel which we’re Stan
and I are on there all the time anyways
but we also have a specific channel for
the hero I’ll actually drop down to chat
right now here we just go ahead and
pause my screens and I will beat you
guys a link to the hero channel this
link right here drop that out to the
entire audience as well as a link to the
website where you can learn more about
this hero and about the initiative we
will be revamping the website to reflect
some of the changes and just you know
some overall a housekeeping looks a
branding style based on what our PR
agency is saying if anybody wants to put
in for doing web breezes either web
redesign or user interface for the
wallet for a hero or for pictures in
general private message me a on well
we’ll say on telegram here and make it
my info I’ll see you guys on here right
now let’s see here this is my username
on telegram
feel free to private message me on there
if you feel like you can contribute to
the hero initiative if you think that
you can be a hero maker or form a team
I’d love to talk to you Stan and I will
help you out in any way you can if you
folks think you could help with the user
interface or with web design or anything
like that be willing to talk
about that because we’re very serious
about making this happen
anyways I really appreciate you all for
being on here thank you very very very
much for being on and asking all the
smart questions we do have quite a few
folks on here for me advertising it
nowhere near as much as usual I really
wanted to make sure that we did this
presentation to dis answers based
questions give me standards only second
time we’ve actually even done this
presentation so there you go and we
really want to again educate and show
folks how to use this all of your
feedback is taking into consideration
everything you’ve been writing in here
everything you guys stay on the telegram
forum if you have anything specific for
Stan a nice private message us on there
let us know I really do like the
feedback we do consider all of it and it
is in our best interest at the end of
the day whether you agree or don’t agree
with how we do things or our initiatives
or anything like that all we do really
care about is big shared system the
technology the community and growing it
into what it deserves to be that’s it
and however we have to to get there is
you know Stan and I are are getting
there one way or another so the train is
leaving the station as tomorrow this an
issue is starting and I hope y’all join
and help grow it to be what it needs to
be thanks a lot folks appreciate it
spring some of the comments all right I
will leave the comments section open
here for about another five more minutes
you guys want to give us any other
feedback let us know what you thought
about the presentation and send anybody
and everybody to this to register for
this I will have a replay on this
presentation that they’ll be able to
access anytime anywhere after this
evening so anybody that wants to see the
replay and get notifications about it
and be able to have access to it just
have them register for this web seminar
all right thanks folks have a good time
and appreciate it take care bye

Author: Video Ranker

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