The NEW Bitshares PTS - superDAC slayer!

[alphaBar]

WHat do you mean by weak scarcity ?

Scarcity can be ranked on a spectrum ranging from deflationary coins (BTSX) --> non-inflationary coins (BTC) --> optional/variable inflation coins (superDAC) --> inflationary coins (less common, maybe PPC/ETH/ZTC would qualify)

Of course the superDAC is worse than some pure inflationary coins in the sense that the upper bound of inflation is much higher (8%). Strong scarcity would be non-inflationary at the protocol level.

[feedthemcake]

I thought Bitshares is really well distributed both through AGS/PTS and also now via three months on exchanges?

I am unable to mine therefor POW won't be fair to me. I was able to purchase BTC and donate to the AGS fund though.

[alphaBar]

Is the idea to essentially launch a DPOS PTS DAC and promote it as currency rather than sharedrop instrument?

It could be both. The honest truth is that Nxt was lightyears ahead of every other crypto until Bitshares launched, but they had only marginal success. Ask yourself why. To this day, Nxt has features that Bitshares hasn't implemented (multi-gateway trustless exchange between BTC-NXT/BTC-LTC/BTC-DOGE and digital goods store come to mind). No matter how superior they were in features and functionality, they could not overcome the stigma associated with their flawed IPO. Bitshares is better, but is it good enough? Time will tell. My argument is that a "purist" version of DPOS has a fighting chance for mass adoption, maybe even a better chance than a feature rich coin with a fumbled allocation problem and variable inflation (superDAC).

As for the second part of your question, I would also argue that such a "purist" DPOS coin is also ideally suited for sharedropping by the "feature-rich" coins. If it weren't for Gavin, I personally think Vitalik would have share-dropped to PTS/AGS for Ethereum. I think neither Vitalik nor Gavin nor any other rational developer would sharedrop to the superDAC. The ideal instrument for sharedropping is a fairly launched pure proof of work coin with no premine. This is PTS by definition. The same properties that make PTS well suited for currency also make it an ideal instrument for sharedropping/distribution by feature-based coins.

[gamey]

WHat do you mean by weak scarcity ?

[alphaBar]

This is an experiment that can be conducted with minimal cost.

Splitting the network so its participants can compete with itself has an extremely high cost.

Possibly. The counterargument is that the community as a whole gains from hedging against the possibility that the superDAC fails for reasons unrelated to the underlying protocol (the Toolkit). If there was heavy development overhead associated with this I'd agree, but other cryptos will fill the void in areas where we are weak. And we're certainly weak in some of the areas I've outlined above (distribution/allocation and scarcity). We may as well try both options and let the market decide. Either way we win.

[roadscape]

Is the idea to essentially launch a DPOS PTS DAC and promote it as currency rather than sharedrop instrument?

[sschechter]

This is an experiment that can be conducted with minimal cost.

Splitting the network so its participants can compete with itself has an extremely high cost.

[alphaBar]

I'm interested in building and investing in the best decentralized autonomous company the market can offer.  Company mergers are extremely beneficial when entering new markets and introducing new products via R&D as it can:
1) Streamline administrative functions
2) Increase market share
3) Lower operational costs
4) Offer financial leveraging
5) Improve profitability
6) Increase earnings per share.

The merger will be beneficial to all stakeholders and continues to lower the barrier to entry.  The merger raises my confidence in BitShares the company and the leadership of I3, the core developers, and the marketing team because it demonstrates they understand the above and how to build value.  I wish you luck with your proposal because you're going to need it competing against such a team.

This is certainly one view of the world, and it may very well be the right one. I would argue that there is no inherent relationship between the Toolkit and the philosophical leanings of I3. One could just as easily fork the toolkit with a coin that maintains the core principles I've outlined above (different from those of the superDAC, but well suited for PTS), still derive value from the work of I3 developers, and possibly provide value to both the developers and the community at large if it succeeds. At the very least the new PTS would be better suited for sharedropping than the superDAC (for obvious reasons). Not much lost in attempting this, but possibly much to be gained.

[oco101]

This one too is brilliant :

Let's face it, the killer app in the crypto-space has always been and will always be one thing: currency. And to be a good store of value, any coin that maintains the sanctity of scarce supply at the protocol layer, will be leaps and bounds ahead of the competition

Edit : Ohh yeah this DAC will be 6x more powerful then the superDAC why ? Well because ..you know !!!! Ask Op he'll do the math for you.

The best thing would be if it magically improved your ability to comprehend basic English. But alas, "one chain to rule them all" is doomed to failure...

You know you right I don't get your English but I like your math. So you superDAC killer is how many chains ?

[alphaBar]

I am fan of this part:

With DPOS technology, no inflation, and pure proof of work distribution, I argue that the new Bitshares PTS has a shot at dethroning the superDAC.

Tell us more about this 'pure proof of work distribution'. I see it as pure CPU mining, no trading allowed and to make the things great it will be done on DPOS chain.

In case you didn't know, Bitshares PTS used a 100% proof of work distribution. It was simply a statement of fact. Your comments about CPU mining and "no trading allowed" are unintelligible so I'm sorry I can't help you there.

[carpet ride]

* The last weakness of the superDAC is what I call "abuse of the DAC analogy". Let's face it, the killer app in the crypto-space has always been and will always be one thing: currency. And to be a good store of value, any coin that maintains the sanctity of scarce supply at the protocol layer, will be leaps and bounds ahead of the competition. What Bitshares gains in "marketing funds" they will lose in investor confidence (from the very investors they are "marketing" to). It is true that running a DAC like a business will result in a more agile and adaptive token. But I would argue that we should run our "business" with the aim of positioning ourselves as the best currency and store of value (the killer app). As I mentioned earlier, I believe the crypto-space is searching for a "unit of account" that will inevitably become something of a global reserve upon which everything else is built. The coin that wins this battle will NOT be Bitcoin (primarily due to the pitfalls of PoW) and it will not be the coin with the most advanced features (see Nxt). The coin that becomes the defacto world reserve must be appealing to governments and serious investors and must be perceived as (i) fairly distributed, (ii) scarce (non-inflationary), (iii) efficient (DPOS), and (iv) secure. Any feature built on top of this coin cannot be done at the expense of these 4 things. The superDAC has failed in distribution/allocation and scarcity.

It seems your premise is BTS is a coin or something like Bitcoin.  I would prescribe more reading to understand the importance of free markets via the block chain and the benefits of the profitable-apps that are being built in to BTS that make it a value creator for its owners and users.  Perhaps the wiki and all of BM's posts. 

[yellowecho]

I'm interested in building and investing in the best decentralized autonomous company the market can offer.  Company mergers are extremely beneficial when entering new markets and introducing new products via R&D as it can:
1) Streamline administrative functions
2) Increase market share
3) Lower operational costs
4) Offer financial leveraging
5) Improve profitability
6) Increase earnings per share.

The merger will be beneficial to all stakeholders and continues to lower the barrier to entry.  The merger raises my confidence in BitShares the company and the leadership of I3, the core developers, and the marketing team because it demonstrates they understand the above and how to build value.  I wish you luck with your proposal because you're going to need it competing against such a team.

[alphaBar]

This one too is brilliant :

Let's face it, the killer app in the crypto-space has always been and will always be one thing: currency. And to be a good store of value, any coin that maintains the sanctity of scarce supply at the protocol layer, will be leaps and bounds ahead of the competition

Edit : Ohh yeah this DAC will be 6x more powerful then the superDAC why ? Well because ..you know !!!! Ask Op he'll do the math for you.

The best thing would be if it magically improved your ability to comprehend basic English. But alas, "one chain to rule them all" is doomed to failure...

[alphaBar]

Shouldn't this post be moved to "Third Party DACS"?

No less relevant than all the other discussions about what to do with PTS/AGS/BTSX.

[alphaBar]

Lol lol is this a joke or you really believe it ? I'm mean for real take a deep breath  and please don't talk about POW as a solution to anything. I know only one person on this forum that could not get over AGS, and has a large stake of PTS and for some reason he's still in love with the stupidity of POW. For sure you know who is do you....? He has a writing stile similar to yours too. Fantastic !! But please don't stop spreading your wisdom... We still love you.
As for your DAC please do it I would really like you to do it to prove your brilliant point.

Not sure what you're talking about, I hate proof of work. The only thing that PoW does okay is distribution, nothing else. My proposal was to simply convert PTS to a standalone DPOS chain. Please explain how this is promotion of PoW? If you think there is a better distribution mechanism, please let us know what that is (hint: there isn't one). IPO is used primarily for funding, not distribution.