Bytemaster's Blog

Welcome!

The purpose of this blog is to help create a free society by encouraging people to join our community which is centered around Bitshares, a next generation fully decentralized crypto-currency exchange. I use Austrian Economics to engineer the economic incentives which make freedom and non-violence profitable.

Follow this blog to explore where blockchain technology can take us. It has the potential to free us from the Socialist Justice System and help us take control of our own identity while laying the foundation for provably honest online elections.

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How to Create a Free Society

Posted on by Daniel Larimer.

Creating a free society is the combined result of individuals giving each other freedom. You have heard it said, “give, and ye shall receive”, this is the foundation of a free society. You have to give others freedom so that they can give you freedom. Our freedom or lack thereof is the result of millions of actions (or inactions) of millions of people. Why should we place the blame on government, when government exists only because of the passive consent of the masses? The government is only an idea, an illusion, and it acts solely through individuals.

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What is BitShares?

Posted on by Daniel Larimer.

Answering the question “What is BitShares?” has been one of the most difficult challenges I have faced. BitShares is so many things to different people and there are a thousand different ways of understanding what BitShares is. This post will tell you what BitShares is to me, its founder. Before getting into the long-answer to this question, let me give you the executive summary. BitShares is one of the most important tools that any community can use to secure their freedom; an idea whose time has come. After reading this post I bet you will agree.

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What are BitShares Market Pegged Assets?

Posted on by Lance Kasper (aka Agent86).

BitShares market pegged assets are a new type of freely traded digital asset whose value is meant to track the value of a conventional asset such as the U.S. dollar or gold. What makes market pegged assets unique is that they are free from counter party risk. BitShares uses an advanced decentralized consensus ledger that takes some cues from Bitcoin. While Bitcoin has demonstrated many useful properties as a currency, its price volatility makes it risky to hold and difficult to use for everyday pricing and payments. A currency with the properties and advantages of Bitcoin that maintains price parity with a globally adopted currency such as the US dollar has high utility for convenient and censorship resistant commerce. This paper will explain how market pegged assets including “BitUSD” (intended to track the value of the US dollar) achieve price parity while minimizing risk to holders.

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Benefits of Becoming a BitShares Gateway

Posted on by Daniel Larimer.

A gateway is a trusted party that facilitates moving value into and out of the BitShares network. To do this they issue redeemable IOUs as fungible divisible assets on the BitShares block chain. If the issuer is trustworthy then those IOUs will trade at face value and therefore be useful in trade. This service is effectively that of a trusted party that facilitates trade among 3rd parties who do not know each other in much the same way that a bank issues cashiers checks so that 3rd parties can accept payment without having to worry about a personal check bouncing. Unlike a cashiers check issued by a bank, the digital IOUs issued by a gateway are far more flexible and therefore useful.

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Why BitShares is Public Domain

Posted on by Daniel Larimer.

When creating any kind of content whether a blog article or source code, the author has to make a choice about which license to use. This is a very tough decision for many people because, in theory, it impacts your ability to make money from your content. While I haven’t written an article on the subject of intellectual property, many of my opinions are similar to those in the book “Against Intellectual Monopoly” by Michele Boldrin and Davik K. Levine. As you can tell from the title I am very much against intellectual property.

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Libertarianism for New Agers

Posted on by Daniel Larimer.

I have spent innumerable hours reading articles by people with all manner of New Age beliefs and the most common theme espoused by these individuals is one of unconditional love and unity with all which comes about when one increases their ‘awareness’ or ‘consciousness‘. Being receptive to these ideas I figured that these super aware individuals who question everything, think for themselves, are not afraid of offending people, and spend much time in meditation would naturally be libertarian or anarcho-capitalist. Unfortunately, for all of their ‘awareness’ many New Agers completely miss the mark.

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The Golden Principle (aka The Silver Rule)

Posted on by Daniel Larimer.

Principles are the bedrock upon which the foundation of society are built. Without principles there is no guide or consistency nor measure of success or failure. If we are to create a libertarian utopia it must be engineered from the ground up to comply with a set of universal principles without compromise.

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Genesis Post

Posted on by Daniel Larimer.

Every blog requires a first post, so it is only fitting for a blog that discusses the power of blockchain technology start with a genesis post. This blog is a new beginning in my effort to communicate my vision for a new world. If I am going to change the world then it would be helpful for everyone who wants to help if they knew where I was going.

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Own Your Identity with BitShares

Posted on by Daniel Larimer.

Who really owns your online identity? I can assure you that any ownership you perceive is an illusion and ultimately your online identity is not currently under your control. Chances are your identity is tied to your e-mail address and every service you sign up for uses email verification as the primary means of identification. If you ever lose access to your email account then you have lost access to many of your other accounts as well. Even worse, if someone is able to read your emails then they can reset your passwords on every service you use and effectively steal your ‘identity’ and take your money with it. Ultimately Google, Apple, Yahoo and others own your online identity and as much as you may trust any individual company, these companies can be strong-armed by governments you may not trust. But even if you have complete faith in these companies and the government, the security offered under this model is so poor that every single day accounts are compromised in mass.

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Subjective Reality Simplified

Posted on by Steve Pavlina.

This is perhaps the simplest way I can explain the perspective of subjective reality at present — and why I’m such a strong advocate of it.

 
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Welcome!

My name is Daniel Larimer and I am the founder of BitShares. My mission in life is to find free market solutions to secure life, liberty, and property for all.

The purpose of this blog is to help create a free society by encouraging people to join our community which is centered around Bitshares, a next generation fully decentralized crypto-currency exchange. I use Austrian Economics to engineer the economic incentives which make freedom and non-violence profitable.


Help spread the word.