Tags: hero bitshares cryptocurrency economics
Ok time to get serious. In Hollywood last month we described our plans to turn the HERO into a mainstream adopted currency. Today, with the publication of the physical copy of the June edition of Avant Garde Magazine at a mega-whale gathering in Indianapolis, the contest to win a Billion Dollars worth of BitShares (BTS) begins in earnest. Teams are forming. Anyone can play.
Read more about the HERO in The Hero from BitShares Island
What exactly do we mean by “Billion Hero Challenge”?
- We want to cause a billion HEROs to enter global circulation to achieve mainstream adoption.
- We want to raise up an army of a billion heroic adopters to buy and/or back those HEROs.
- We want the backers to have nice fat retirement accounts.
- We want the holders to have +5% savings accounts.
- We want to grow the market cap of BitShares by three factors of ten so it can back a billion HEROs.
- We want to grow our donated billion-hero-prize value by three factors of ten - from one million USD to one billion USD.
- We want that army of supporting heroes to experience that same growth in each of their own BTS accounts.
- We want to build BitShares Island and have a 40 foot catamaran anchored there…beside yours.
Some of the world’s most accomplished and recognizable heroes are already signing on to rally their networks of fans and like-minded people to win a piece of this jackpot for their chosen Good Causes. We believe that such a competition will propel the HERO to mass adoption far more quickly than jousting with our friends and competitors inside the inbred digital currency community. We are taking our product to the world. It is ready for Prime Time.
All incentives are aligned. The contest will end when our donated million dollar prize reaches a billion dollars in value. A factor of 1000 growth. Bitcoin did that in six years. Ethereum did it in two.
And, quite frankly, they couldn’t scale to handle the necessary traffic. BitShares intends to blow those prior records out of the water.
Keep your eyes on the prize
The billion dollars worth of BitShares will be divided among the leading teams according to the following, possibly preliminary, purse parsing plan:
We will be revealing more and more about who is involved and what they are doing between now and Global Independence Day (coincidentally, the Fourth of July, when BitShares was conceived in 2013 and when the intended outcome of the world’s first republic was declared in 1776). Today, let’s look at the preliminary contest rules. (Final rules and purse parsing distribution will be determined by Heronomex on July 4, 2017 and may be amended by the leaders of the top twelve teams at the end of the Qualifying Round. The billion-hero-prize account will be funded with $1M worth of BTS on or before this date.
Subject to review and amendment by the leading teams at the end to the Qualifying Round, the preliminary contest rules start out as follows:
• The winner is the team that has backed the most HEROs when the value of the billion-hero-prize account exceeds $1B at the BTS price published by coinmarketcap.com. • Automated software will scan the BitShares blockchain continuously and publish the names of the leading twelve teams at SovereignHero.com. Anyone can check these results using their own scoring software, since the BitShares blockchain is open to public inspection. • Anyone can play by simply saving BTS in their own account and locking them up as collateral to back HEROs, which they are free to hold, sell, or spend. No purchase is necessary - all participants’ funds remain their own! • Anyone can join any team, and change teams at any time by simply entering the account name of that team’s leader in their own account’s proxy setting. This tells the scoring software which team gets credit, without changing who owns the collateral locked up in the account. • Anyone can unlock their BTS collateral at any time by returning their HEROs to the system. This, of course, removes the corresponding credit from their team’s score. You can check out any time you like… • Contest rules may be amended by a 2/3 majority of the leading teams while the billion-hero-prize at the end of the Qualifying Round when prize value exceeds $10M. Amendments may continue while the billion-hero-prize account lies between $10M and $100M. No changes are permitted after the billion-hero-prize first exceeds $100M in value. • When the billion-hero-prize account first exceeds $1B, it will be divided among the top 12 teams as shown in the table. • Anyone is eligible to play, because the rules and scoring mechanism are transparent and enforced by robotically honest blockchain. Whichever team of heroes backs the most HEROs becomes the global Hero who led the charge to bring us truly Honest Money for the first time in human history.
We reserve the right to refine these rules until Global Independence Day when the refined rules will formally go into effect. Comments are welcome until that time. All decisions of the contest sponsor and prize donor, Heronomex, will be final. No purchase necessary, void where prohibited.
About the Author — Stan Larimer