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Offline Rune

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Around 20 bitshares stakeholders just finished an "emergency" mumble session with bytemaster about the new proposal. Before he joined us the atmosphere was very panicky because people really didn't understood what was going on regarding the merger of all DAC.

To help other stakeholders and community members to understand that there is no need to panic, we will all post our thoughts regarding the proposal before and after hearing BM's explanation.

The mumble recording will be posted in this thread as soon as its ready, I urge everyone to listen to it as it has all the explanation.

Edit: Mumble recording posted here: https://bitsharestalk.org/index.php?topic=10181.msg133232#msg133232

My TL;DR of the situation is that Bytemaster was too quick to jump the gun and didn't manage to communicate his proposal properly. It is an incredible good idea but many stakeholders panicked because they thought he was doing a 360 on decentralization or that I3 was running out of funding, or some other crisis.
« Last Edit: October 20, 2014, 08:51:15 PM by vikram »

Offline toast

Re: Consensus reached on Mumble session regarding BM's "Fix-all" proposal
« Reply #1 on: October 19, 2014, 10:49:16 PM »
Did this session have anybody besides Dan from the core team?
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Offline bytemaster

Re: Consensus reached on Mumble session regarding BM's "Fix-all" proposal
« Reply #2 on: October 19, 2014, 10:49:47 PM »
Did this session have anybody besides Dan from the core team?

Stan...
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Offline JoeyD

Re: Consensus reached on Mumble session regarding BM's "Fix-all" proposal
« Reply #3 on: October 19, 2014, 10:55:52 PM »
Recording of the spontaneous AMA with Bytemaster on his proposal and ensuing panic. Different ogg encoder
Flac-version
Mp3
AAC/M4A

Plus the chatlog

Not edited, an edited cleaned up version will probably be uploaded later.

I've posted this first so everyone can get it from the horses mouth. I'll make another post to explain my point of view. Short version I was in complete opposition to the proposal and now see it very differently.
« Last Edit: October 20, 2014, 12:12:12 AM by JoeyD »

Offline mf-tzo

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Re: Consensus reached on Mumble session regarding BM's "Fix-all" proposal
« Reply #4 on: October 19, 2014, 10:58:41 PM »
There is something wrong with that link from my end.. :(

Offline robrigo

Re: Consensus reached on Mumble session regarding BM's "Fix-all" proposal
« Reply #5 on: October 19, 2014, 11:00:06 PM »
I was on board with the proposal before the session, and my position is even more solidified after listening to Dan explain himself for the following reasons:

1) Simplifying the message (consolidation of DACs that make sense to consolidate, rebranding of BTSX to BTS) will tilt possible future users that are "on the fence" about investing or having trouble understanding (non technical users especially). Snapshotting PTS and combining it with AGS into a user issued asset or buying them out and ending them simplifies my BitShares elevator pitch considerably.

2) Passing the delegated capital infusion (better name for dilution discussed on mumble) measure will future proof BitShares DAC by allowing for opportunities that require more capital to be taken advantage of.

3) Network effect will come more rapidly with multiple pronged approach stemming from one DAC.

4) bitUSD isn't split between the DACs that have the biggest chance at network effect (if VOTE is "cannabilized" by BTS). Thus, volume and liquidity will not be split.

5) Hard Fork approval voting allows the DAC to regulate itself, a very necessary tool for coming to a consensus on the implementation of functionality that the community is divided on.

Full disclosure: I hold BTSX, VOTE snapshot, NOTE snapshot + presale.
« Last Edit: October 19, 2014, 11:07:29 PM by robrigo »

Offline James212

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Re: Consensus reached on Mumble session regarding BM's "Fix-all" proposal
« Reply #6 on: October 19, 2014, 11:01:25 PM »
I attended the session. bytemaster clarified all of the concerns that we all had.  there were 23 of us on the call.  After the session every one of us felt positive about the BMs proposal.   My focus was on PTS, and BTSX'. 

Basically, the move will get rid of all the complexity the only causes confusion and marketing challenges (this is a very good thing!).  PTS and AGS will be folded into BTS (AGS and PTS will receive shares in BTS) and DACs will be all "divisions" BTS.  I think of it as BTS being like a parent company.  Additionally the capital infusion will allow the Bitshares ecosystem to far far more efficiently......This is a race to network effect and it is critical we move fast!

The plan is solid. I'm currently a buyer :-)

Everyone should check out the audio session which will be posted here shortly. 
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Offline James212

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Re: Consensus reached on Mumble session regarding BM's "Fix-all" proposal
« Reply #7 on: October 19, 2014, 11:07:08 PM »
Did this session have anybody besides Dan from the core team?

Stan was also there.  It was a very informative session. 
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Offline Rune

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Re: Consensus reached on Mumble session regarding BM's "Fix-all" proposal
« Reply #8 on: October 19, 2014, 11:13:54 PM »
As a BTSX holder:

Before going in to the mumble session, while I liked the idea of merging all DACs into a singular brand, I was quite scared/confused about what exactly the plan was. BM's writing in the proposal thread was very sparse, and after that he just disappeared completely from the forums. I must admit I kinda panicked, but at least I didn't sell anything at the bottom.

After hearing him and Stan explain everything meticously and with nice analogies to ensure people were able to grasp the main reasons for why merging all DACs into a single DAC is extremely beneficial, I am now more excited than ever for BTS! This is going to be really huge, and these next few months will be absolutely amazing once we can start to get a roadmap up for a unified branding and eventually unified functionality.

One of the main reasons a unified DAC is so great is that there are many synergies amongst the different DAC functionalities. e.g. the DNS dac can support the bazaar dac, which support the exchange dac. Implementing all three things in the same client will greatly increase user experience and reduce transaction costs and spread.

Offline tonyk

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Re: Consensus reached on Mumble session regarding BM's "Fix-all" proposal
« Reply #9 on: October 19, 2014, 11:17:37 PM »
I little history... This thread https://bitsharestalk.org/index.php?topic=10118.0 ( VOTE DAC Just Got More Interesting 2.0 ) was the proposal that put me personally in 'panic mode' and made me convert 35% of my BTSX holding to bitUSD expecting 'no so bright' future.
Actually the fix all proposal  https://bitsharestalk.org/index.php?topic=10148.0 Proposal to Resolve a Million Issues at Once) was enormously bright news for me, to begin with. I was truly surprised that the second thread drove the market even more down than the initial thread. It turned out a lot of people had misinterpreted the second thread.

The mumble session in question made virtually all of them change their mind and see the great benefits the proposal offers.

So, please, listen to the recording if you have some disagreements with the proposal 'Fix-all'/'Proposal to Resolve a Million Issues at Once'! You will not be sorry and will end up with much better understanding....



[Disclosure:]  AGS Donator post and before Feb28th; By far mainly BTS(X) holder[have about 3x more BTSX now, than the amount received for donating to AGS]. Have not hold PTS for more than a few hours after the AGS period ended. 100% of my crypto is in Bitshares DACs. BTSX, KeyID, NOTE, VOTE


« Last Edit: October 19, 2014, 11:29:58 PM by tonyk »
Lack of arbitrage is the problem, isn't it. And this 'should' solves it.

Offline James212

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Re: Consensus reached on Mumble session regarding BM's "Fix-all" proposal
« Reply #10 on: October 19, 2014, 11:20:52 PM »
There is something wrong with that link from my end.. :(

It is an .OGG file.  You may need to download it.  I know the VCL player will play it. 
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Offline Method-X

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Re: Consensus reached on Mumble session regarding BM's "Fix-all" proposal
« Reply #11 on: October 19, 2014, 11:22:35 PM »
One of the main reasons a unified DAC is so great is that there are many synergies amongst the different DAC functionalities. e.g. the DNS dac can support the bazaar dac, which support the exchange dac. Implementing all three things in the same client will greatly increase user experience and reduce transaction costs and spread.

The Bazaar DAC?

Offline JoeyD

Re: Consensus reached on Mumble session regarding BM's "Fix-all" proposal
« Reply #12 on: October 19, 2014, 11:27:09 PM »
There is something wrong with that link from my end.. :(

Ok I'm looking into a different encoder, give me a moment to figure this out and upload different versions.

Offline Rune

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Re: Consensus reached on Mumble session regarding BM's "Fix-all" proposal
« Reply #13 on: October 19, 2014, 11:36:07 PM »
One of the main reasons a unified DAC is so great is that there are many synergies amongst the different DAC functionalities. e.g. the DNS dac can support the bazaar dac, which support the exchange dac. Implementing all three things in the same client will greatly increase user experience and reduce transaction costs and spread.

The Bazaar DAC?

It's just a concept of a future DAC which functionality would be sort of like OB, but where sellers can outsource the running of their store servers to nodes, so they dont have to deal with all the technical stuff unless they want to.

Not sure it will actually become a reality, definitely depends on whether OB takes off like a rocket or not. If it runs into issues, such as lack of user friendliness, then we could launch our own competing system to capture the market.
« Last Edit: October 19, 2014, 11:37:51 PM by Rune »

Offline werneo

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Re: Consensus reached on Mumble session regarding BM's "Fix-all" proposal
« Reply #14 on: October 19, 2014, 11:43:58 PM »
Download the OGG file from google drive here:
https://drive.google.com/file/d/0B521Uvk7QIpYUlBBQld2b25pTVE/view?usp=sharing

Download the VLC media player here:
http://www.videolan.org/vlc/index.html

Open the the OGG file with the VLC player. It works great.

Bytemaster does not show up until minute 24.


 

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