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The truth of the matter is anybody who truly understands what Bitshares is knows that the peg will never hold because without full convertibility you cannot have parity! They will play this game until they bleed everyone dry.
The truth of the matter is anybody who truly understands what Bitshares is knows that the peg will never hold because without full convertibility you cannot have parity! They will play this game until they bleed everyone dry.
Wow, you are not only software development expert, you're also economics expert, where we can read your other works?
I am a renaissance man.
Thank you for bringing that up yet again! It gives us the chance to tell other people about it.
You're welcome! I'm always here to help explain Bitsnares(TM) to any potential users.
When BitShares is fully mature, it will indeed be far safer than a Swiss Bank.
You'll know your money is really there and no one will be able to freeze or seize it.
Swiss banks used to be famous for their privacy and security.
Today, they will make your data available to any rogue government who asks.
And check out the new European banking laws since Cyprus proved they can get away with confiscating depositor funds.
"Bail-ins" are now the plan, not the outrageous exception.
You'll know your money is really there and no one will be able to freeze or seize it.
Swiss banks used to be famous for their privacy and security.
Today, they will make your data available to any rogue government who asks.
And check out the new European banking laws since Cyprus proved they can get away with confiscating depositor funds.
"Bail-ins" are now the plan, not the outrageous exception.
This is my favorite retort when somebody questions if Bitsnares(TM) actually is "Safer than a Swiss Bank" is to respond just like you, "Well, actually, you know, Swiss Banks aren't as safe as they used to be." I find this works even more effectively if the individual isn't very savvy and doesn't understand the difference between counterparty risk and systematic risk.
We may one day actually use the Safer than a Swiss Bank slogan proposed on bitsharestalk.org when BitShares reaches full maturity. But I appreciate it when someone mentions it early, because it reminds people of what we are trying to accomplish.
PROPOSED?
Being the "President and Chief Operating Officer", you certainly seem to be using this "proposed" slogan in an official capacity. I could have sworn that I saw this "proposed" slogan on the front page of Bitshares.org too. I'm not the only one either who remembers you using this "proposed" slogan. The great Preston J Byrne who so eloquently explained Bitsnares also remembers.