gistfile1.txt

$.password
  :blur
    if @value === ""
      .hide()
      // Eventually, indenting beneath something will set it as the context
      .prev()
        .show().val(@default_value)
      
  .blur()

$.faux-password
  :focus
    .hide().next().show().focus()

gistfile2.txt

// At the moment, there is nothing like $this. But you can access properties of the context via .prop
var faux = .prev()
faux.show().val(faux.attr('default_value'))

// How is this better than the above? It just looks like a more verbose var
.prev() becomes faux
faux.show().val(faux.attr('default_value'))

// This is how it'll actually work
.prev()
  .show().val(@default_value)