Thanks to community feedback, we've continued to refine the Billion Hero Challenge - especially how the winner will be chosen and some possible rule refinements. Nothing is final yet, but we continue the discussion here.
Recall that the Billion Hero Challenge is where we give away a billion dollars worth of BitShares to twelve good causes at the end of a grueling competition to raise awareness of the BitShares network and its flagship new HERO - honest money for a superconductive new global financial system.
First and foremost, we would like the contest to be open to anyone - no purchase necessary - and be able to bypass limitations in current on/off ramps that make it challenging for noobs to get started. Further, we want to encourage everyone to learn about all the things you can do with the BitShares platform - the more you learn, the more influential you become in choosing how the prize money is awarded.
Another desirement is to be able to grow the ways you can gain influence throughout the contest without changing the contest rules in mid-stream. The rules have to remain fixed and consistent while the ways you can participate is able to freely grow as our own ability to think up and implement them grows.
This sounds like a job for a special-purpose game token!
The FREEro works exactly like a HERO except it is not backed by anything other than the right to influence who the contest winners are. You get a bunch for just registering an account. You get more for registering for our newsletter. As training activities are completed, you get FREEros for that. We'd like to hear more ideas for all the ways to earn points and training tasks that should be developed. In many cases, you can use FREEros instead of HEROs to try out features with little risk.
I suspect that a market might develop where you can trade your FREEros for HEROs or vice versa. I wonder what value FREEros might have as the contest progresses?
Of course, we want all user types to be incentivized, not just the rare savvy HERO-shorting speculators. So ownership of FREEros, HEROs and BTS should also count in some weighted way. Naturally, those who serve humanity by borrowing HEROs into existence using their own BTS collateral will have the most influence on the final score. But, we might even throw in course credit for holders of BROWNIE.PTS. They've already attended the School of Hard Knocks back in the Day, and shouldn't have to take the entry level training all over again.
But vast populations with little wealth can band together to win something for their cause - by sheer numbers alone. No purchase necessary.
Figuring out the right weighting for all this is critical. So I'd like to hear everyone's opinion about it.
"Void where prohibited - no purchase necessary - your actual mileage may vary!"
Cheers!
Stan Larimer, President
Cryptonomex
The Godfather of BitShares and the Sovereign Hero
Key Links to Heroic Content
Here are some of the best links for inquiring about us:
The Original HERO Definition Post - “The Hero from BitShares Island"
The HERO from BitShares Island
The Billion Hero Challenge Announcement
The Billion Hero Challenge
The Avant Garde Magazine Special Issue
Will Bitcoin Survive the HERO?
The Video
By far the best resource for new people is our “TED Talk” in front of a live studio audience in Hollywood. Everyone (that we respect) loves it for some reason. There is no better way to know all about us in one sitting.
Tutorials on How to Participate
How to Join the Hero Challenge as a Leader and Participant
Borrow HERO and Short It!
The Marketing Campaign Behind the Billion Hero Challenge
Key Web Sites
BitShares.org - Features of BitShares Overview
SovereignHero.com - A collection of information about the Hero currency offered on the BitShares platform.
The Hero Story - Nice Summary on one Web Page
Fabian's Heroic Wiki - Great documentation
Cryptofresh's Heroic Stats
Telegram Group of Heroic Proportions
Contrarian Articles - Risks, Special Case and Exceptions
Will HERO work or can you brute force the free market?
Who will pay the interest on HERO?
Elevator Speech
It's all about Honest Money. The hero is a stable, fast, appreciating market pegged asset that is backed by the equity of the platform which manages it. No counter party risk like other currencies backed by government debt or gold that may or may not be in a vault. And it grows, by definition, by 5% APR against the dollar. The Hero is borrowed into existence by someone who uses BTS as collateral - like a home equity loan uses your house as collateral. Except you can sell, trade, spend or hold the Hero like a coin.
About the Author -- Stan Larimer
Follow Me On Steemit - The Social Media Platform That Pays
Please Connect To Me On Linkedin!
Greatest Hits
Bitcoin and the Three Laws of Robotics
Engineering Trust with Charles Hoskinson
The Origin of BitShares
Why I will never give up Christianity
I wonder if all of these crypto currencies will lead to hyper inflation in most Fiat based currencies? If one bitcoin is worth $3000USD, than what the heck is $3000USD worth? Eventually there is going to be a huge correction somewhere.
The real question is why the dollar is worth so little. The answer is a mixed bag but ultimately it's because its supply is being increased without proper backing. BTC is worth 3K because the supply is public knowledge and cannot be altered without a hard fork / consensus.
Yes quantitative easing is a real issue in fiat based economies. Nevertheless, there is a lot more to a currency than supply and demand side economics. For the most part, a currencies value is determined by a mix of GDP, other countries holdings of the currency in question and national debt.
In countries like the United States GDP usually is the strongest determinant of the countries dollar value. The more they can keep trade surpluses in the black, the greater value their currency will poses. However in turn, the stronger their dollar is in contrast to their trading partners, the less enticing their export become. I agree that crypto currency is a great alternative, but I still think that it has a long way to go before it takes over other more established currencies like the pound or the US dollar.
No need to wait for it to 'take over'. As long as it holds value better than the dollar and insulates me from the forthcoming bubble I'll be satisfied.
so true
Thank you Stan, that is another great example for a good, honest purpose use case (at this point I don't know if you or somebody else implemented anything but anyway ...).
I'm working as an IT consultant in data privacy and IT security I already have many use cases in my head and soon I'll post some of them here, as I can.
My comment on this and I hope it helps: as I quickly scrolled thru the article the first point which cough my eyes was "game token!" - and I know what you mean with this but it was a little bit confusing - regarding to the real message and purpose which was clear after reading... BW
@stan you are a true inspiration, honestly your efforts and intellect in building the Bitshares network should be rewarded not just in monetary terms but in a libertarian freedom award. Any idea of creating a derivatives exchange for Etherium so people mining can lock in future anticipated mining profits?
@stan, I started accumulating bitshares after watching your video last month, and I'm excited for the future. I will checkout all the links and I'm jumping in as ignorant as I am in the space. Steem On!
Bitshares? I have to learn more about it and looking forward to getting some great ideas from people who finally succeded . It's nice to join open conversations like this for some additional knowledge regarding bitshares.
I've now completed a few cycles of borrowing, shorting and returning HERO. The liquidity is terrible right now - you need to move 100-200 HEROs to make this worth the time and risk, and right now you can't move more than a couple dozen HERO without huge slippage.
If you've got some whales on board why are they not pumping liquidity into the HERO markets and running market maker bots?
This is a great idea, and I'm keen to participate, but you are two weeks from launching and your primary market is thin and illiquid. If you get a bunch of interest from the launch people like me are going to hit the DEX and bail as soon as we try to bring a few hundred HEROs into existence.
HERO needs whale power asap!
Watch the splash when they enter the pool.
Is whale entry happening on 4 July? If so, I'll be happy to birth a few hundred HEROs to make the splash a little bigger...
They will enter when they are ready to enter. You will notice when they do.
Notice, you will. Ready, must you be.
I can't help but notice you got no real answer to your intelligent question, just metaphor.
I`ve been waiting years to see BTS in the top 5 on CMC (well except for that one time...) and I really, really hope Stan is able to execute on this. Honestly something like HERO could really resonate in the cryptoconomy right now, so many people suddenly find themselves with a great deal of new wealth and are actively seeking ways to shelter from volatility while earning income. While Stan is focused on converting the fiat masses, there are literally hundreds of millions of dollars worth of crypto-wealth that would love to park in HERO... if only there was liquidity... and if only they knew about it.
+5 on the brownie.points :)
I have started to stockpile bitshares lately and if you go through my blog you can see my posts where i advice people on advantages and why the future is BTS. I really believe in bitshares and what the community behind it stands for.
Hoping you can teach people like me as a starter here at Bitshares. i started trading BTS @ Poloniex.
This could be a solution. Looking forward to how everything gets implemented together!
@Stan you're my hero.
Can ya feel the irresistible gamification bubble expanding? Looking forward to observe the magnitude of the burst on the 4th of July ;-)
The 4th is just the beginning. The you will know that we are on a steady course when the TV show is announced. If this works it will take the WORLD by storm
Especially when we can hand out FREEro's like Helicopter-Bernanke in his most glorious days ;-)
Hey Stan, I have been telling a lot of my friends about this post, and I told them to watch the video even though it was one hr plus. Now the video is gone. Can you give the link so they can view the video, it is such a powerful presentation!
I look forward to your reply.
Thanks
Sounds good! It's probably to participate! Thank you @stan! Follow you!
This is interesting, i'm brand new to bitshares and will be looking more into this!
Thanks Stan
Wow great post :D awesome
This is called the revolution of crypto currencies ...I thick in 10 years there will be no Fiat currency...
All your base are belong to us
@stan looks very intresting
It is very interesting as a project I will participate. I'll follow you. Thanks for the discovery :)
Are FREEros a UIA? I couldn't find them searching cryptofresh.
Yes, but just an idea to be discussed at this point.
Look again.
Thanks for the informative post, makes me want to get involved even more. This feels like a game changer to me.
Sound great, you have my support
interesting post
Cool, see and follow @svtechnik
Good luck to the 12 causes. I'm sure that will help in a big way.
Excellent Stan :)
This is such a great concept with a great cause! It also get bitshares out to the world so people can see what a great platform it is :)
Perfect..
Good idea..
Awesome, so interesting accumulation..
Upvote and Resteem.!!
you are amaxing!
Good stuff, you also got me to buy Bitshares, it looks like a nice accomulation period is going on right now.
This is amazing. I am watching and learning at this point. Thank you for this creativity and innovation.
Going to Follow so as to remain updated on Bitshares and Billion Hero Challenge and some great information of your posts...Still a Tributory Minnow...Hope I join this River quickly...Love your posts @stan
FreeEros...Seems Quite intresting and Promising...FreeEros on mind Right now!!!
Yes, I hope we don't come to the point where we have a bucket full of dollars just to go get groceries. Our government is like an addict and they can't stop spending. Maybe the crypto currency market will scare them straight, but I doubt it.
Read about @SiaCoin
https://steemit.com/siacoin/@sayyedraza/let-s-think-about-siacoin
I am in :) I love this. I found the more recent post before this one. Am going to go through with patience, I need to learn this. Glad you are here!!
What happens if I have one of the 12 causes? Should I make a post on it?
Why not? We'll have more formal methods later. Specify a BitShares account for others to point to.
OK. Bitshares account opened. Post coming soon. Preferred tag for new posts?
bitshares hero
how to register for training?
Not defined yet. Much to do.
rgr i shall read your links from above. Thanks very much!
Spent much of the night learning more about bitshares, after opening an account.
What an amazing platform. I'm seriously planning on putting a chunk of my retirement savings into BTS.
...And my Billion Dollar Idea involves Heroic Thorium
This is most excellent. Being new the the world of cryptos I feel this will certainly help me immensely!
Congratulations @stan
You took 43 place in my Top 100 of posts