I've created a non-trivial amount of HERO via borrowing on the DEX, it is an interesting experience.
Here is how this contest can make people very wealthy:
Buy BTS
Borrow HERO using BTS as collateral
Sell HERO for BTS at today's price
Wait for BTS to go up in value due to HERO contest
Buy HERO back for less than you sold it for
Return borrowed HERO to the DEX
My question is: what happens when the contest ends and everyone cashes out by returning their borrowed HERO?
By the time the prizes are awarded we will have global adoption and the incentives for using HEROs will be well understood. BitShares will also be highly profitable and taking those profits out of circulation and back into the reserve pool. This reduces supply just like the campaign is intended to do. Escape velocity will have been achieved and we will be on our way to the stars.
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Interesting - after escape velocity has been achieved BTS + HERO could be a paradigm shift for wealth creation and preservation on a global scale.
When you are young, hold 80% BTS and 20% HERO. As you age shift the portfolio to more HERO and less BTS. Retire and live off of stable HERO income.
The implications are enough to reshape the entire world. That is not a joke.
Godspeed!
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Hey John can you do a post and show how to do that step by step for us novices?
Sounds like you know what you are doing. By the way was it your bot that got you first to comment on Stan's post? (you said it in the video)
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Great post Stan. I just finished your video where you were at the CRS production. It is truely mind boggling all the different possibilities you have presented. So much so its overwhelming. What a perfect storm in history we have for a financial revolution.
Its not July 4 yet, so if you had small amount to catch the wave before it started, would buy BTS or the Hero?
I'm too excited to try and think and figure it all out. This blows my mind!
I'm new here on steemit, (discovered it by Matt Trainer) and just getting started. This is going to be a wild ride!
I look forward to more from you, I'm following you.
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The Hero is very conservative an gains 5% agains the dollar annually.
BTS is very volatile and can go up or down in big sudden swings.
We are trying to make it go up by a factor of 1000x in the coming year.
Judge for yourself whether our Billion Hero Challenge will help do that.
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So how is that going?
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I just wrote a quote for you john, and it goes like this Roses are red, violets are blue , you just earned a follower, hope i did too. Please upvote this so i can earn my first 10 dollars
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Here you go. :)
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Omfg did i acctualy earned 20dollar!?
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This is a novel idea given that you will still be able to keep BTS shares. Brilliant!
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Yes, it is an absolutely game changing strategy that will allow millions of people to create independent wealth
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Also keep in mind that they can't cash out their collateral until someone sells HEROs back to them. The only way it could all be rapidly dumped is if people were holding both sides of their short positions. If we actually get real adoption by long term HERO holders, then it will be a large market cap market but there won't be enough HERO liquidity for everyone to destroy their HEROs at once. If that happens people shouldn't all want to sell at once, either, because it will be a healthy and growing market that provides real utility.
If somehow a few people shorted HEROs to themselves while pumping the reported BitShares price up to the target price with fake volume somehow and won the prize, they could all then dump their collateral and crash the price.
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https://steemit.com/food/@jonuzi/delicious-my-lunch-asian-food-in-curry-flavor
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good ELI5 thanks
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