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Offline bytemaster

BitShares to become Decentralized Autonomous Community
« on: October 29, 2014, 11:10:25 PM »

BitShares to become Decentralized Autonomous Community

BitShares is a community of likeminded individuals working together to make the world a better place.  The only way to become a member of our community is via proof of work.   PTS miners did work to create and secure our first membership token.   AGS donators have proven their support by giving resources they had to work to earn.   Delegates are continuing to do the work to grow the community and realize our vision.

BitShares are Proof of Work. 

Companies are contractual entities while communities are voluntary associations.   We want to work together and recognize the contributions of each member to helping the community grow and achieve its ultimate mission, world peace.  In our community it is imperative that each individual produce more value than they consume and equally so that no individual be expected to sacrifice themselves disproportionally for the group.   

We have long used the company metaphor to describe BitShares X as a bank and exchange and thrown around words like shares, dividends, dilution, merger, interest, etc.   I would like to officially strike all such language from the rebranded BitShares (BTS) to be launched because it does not fit with what we are really doing and those words work against us in every way except understanding the economic consequences of various decisions. 

BitShares will be a self-governing community which elects delegates who serve the community and enforce the social consensus that majority stakeholder opinion rules.   

The BitShares community is a contract-free zone where at no point in time shall there exist a legal obligation for any party to behave any way in the future.   We shall stick to these principles and rely on reputation and community coordination to facilitate efficient commerce with low overhead. 

To this end the funds held by I3 for development will be divided among the core developers who will work together as independent parties to grow the community.  Details of this plan are still under review, but at the end of the day the result will be that no one developer will have "king making authority" for delegates.    People have stated that I have "too much power", but I do not wish to rely of fiat to get things done, but instead on my ability to persuade the community.   I also wish for the development of BTS to continue regardless of what the SEC or government attempts to accuse I3 of.   BTS is bigger than any one of us and has the potential to unite everyone under a fully voluntary society. 

Lets make this happen... lets change the world and reimagine BitShares.



For the latest updates checkout my blog: http://bytemaster.bitshares.org
Anything said on these forums does not constitute an intent to create a legal obligation or contract between myself and anyone else.   These are merely my opinions and I reserve the right to change them at any time.

Offline donkeypong

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Re: BitShares to become Decentralized Autonomous Community
« Reply #1 on: October 29, 2014, 11:21:13 PM »
Love it.

BitShares, DACOM?

Offline Ander

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Re: BitShares to become Decentralized Autonomous Community
« Reply #2 on: October 29, 2014, 11:24:39 PM »
Hopefully this post wont result in yet another 10%+ BTSX tanking like the "merger" proposal thread, whereby those out there who want to see bitshares drop will use anything and everything in an attempt to FUD, and weak and stupid hands will dump their shares.    (Would be nice to have a day where I could do something other than be sick about the BTSX price dropping again).


I definitely get the impression from everything that has happened that funding for development is being moved away from anything that the government could potentially try to attack/fine (i.e. I3), and towards a goal of each developer being paid for by Bitshares, by shareholder vote, with accountability, and in a way where development can continue and be sustained no matter what attacks Bitshares comes under.

On one hand, that is great.  On the other, it makes me fearful that attacks are coming.  Still, much better to be prepared in advance.  To have a plan whereby Bitshares can continue to grow and thrive no matter what happens.
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Offline arhag

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Re: BitShares to become Decentralized Autonomous Community
« Reply #3 on: October 29, 2014, 11:25:50 PM »
BitShares is a community of likeminded individuals working together to make the world a better place.  The only way to become a member of our community is via proof of work.
Wah?!   :o ...
AGS donators have proven their support by giving resources they had to work to earn.   Delegates are continuing to do the work to grow the community and realize our vision.
Ohhh... nice pun! I can't wait to use that one on the Bitcoin community.


We have long used the company metaphor to describe BitShares X as a bank and exchange and thrown around words like shares, dividends, dilution, merger, interest, etc.   I would like to officially strike all such language from the rebranded BitShares (BTS) ...

That is going to be incredibly difficult to adjust to.


To this end the funds held by I3 for development will be divided among the core developers who will work together as independent parties to grow the community.  Details of this plan are still under review, but at the end of the day the result will be that no one developer will have "king making authority" for delegates.    People have stated that I have "too much power", but I do not wish to rely of fiat to get things done, but instead on my ability to persuade the community.   I also wish for the development of BTS to continue regardless of what the SEC or government attempts to accuse I3 of.   BTS is bigger than any one of us and has the potential to unite everyone under a fully voluntary society. 

So that is the other way of doing it I guess. It is easier to implement than the "source locks" I proposed but it still doesn't provide as much security and flexibility to the community (are we sure we can we really trust each of these members with such a significant stake of wealth?), so I don't prefer it.

Offline luckybit

Re: BitShares to become Decentralized Autonomous Community
« Reply #4 on: October 29, 2014, 11:26:43 PM »
BitShares to become Decentralized Autonomous Community

BitShares is a community of likeminded individuals working together to make the world a better place.  The only way to become a member of our community is via proof of work.   PTS miners did work to create and secure our first membership token.   AGS donators have proven their support by giving resources they had to work to earn.   Delegates are continuing to do the work to grow the community and realize our vision.

BitShares are Proof of Work. 

Companies are contractual entities while communities are voluntary associations.   We want to work together and recognize the contributions of each member to helping the community grow and achieve its ultimate mission, world peace.  In our community it is imperative that each individual produce more value than they consume and equally so that no individual be expected to sacrifice themselves disproportionally for the group.   

We have long used the company metaphor to describe BitShares X as a bank and exchange and thrown around words like shares, dividends, dilution, merger, interest, etc.   I would like to officially strike all such language from the rebranded BitShares (BTS) to be launched because it does not fit with what we are really doing and those words work against us in every way except understanding the economic consequences of various decisions. 

BitShares will be a self-governing community which elects delegates who serve the community and enforce the social consensus that majority stakeholder opinion rules.   

The BitShares community is a contract-free zone where at no point in time shall there exist a legal obligation for any party to behave any way in the future.   We shall stick to these principles and rely on reputation and community coordination to facilitate efficient commerce with low overhead. 

To this end the funds held by I3 for development will be divided among the core developers who will work together as independent parties to grow the community.  Details of this plan are still under review, but at the end of the day the result will be that no one developer will have "king making authority" for delegates.    People have stated that I have "too much power", but I do not wish to rely of fiat to get things done, but instead on my ability to persuade the community.   I also wish for the development of BTS to continue regardless of what the SEC or government attempts to accuse I3 of.   BTS is bigger than any one of us and has the potential to unite everyone under a fully voluntary society. 

Lets make this happen... lets change the world and reimagine BitShares.

 +5% +5% +5%
The community really needed this announcement.


BitShares is a community of likeminded individuals working together to make the world a better place.  The only way to become a member of our community is via proof of work.
Wah?!   :o ...
A guiding principle is reciprocity. You have to give to receive in nature. If you plant a million seeds it might cost you time but it could yield a bounty of crops in the future.

I don't know how many people here believe in God but whether you do or you don't the earth we have is a gift. If you give to it you can get more from it in the future. A community works in a similar way where if you want to grow it you have to give resources to it so that in the future you can rely on it's gifts.

Let's look at what we have or could have:

1) Decentralized trust with privacy. We can trust each other enforced by algorithmic social measures instead of legal.

2) Decentralized reputation with privacy. We will know from experience how trustworthy we can all be in a way which can be quantifiable. The more "Big Data" we collect the more accurate our measurements will become and once again with algorithmic enforcement the scammer has to deal with the self enforcing contract.

3) Decentralized decision making with privacy. If we can trust each other and know each other's reputation then we become like a society of friends. We can trade with each other and make big important decisions while maintaining pseudo-anonymity (privacy).

On top of this we can organize ourselves into legal structures which promote and encourage trust/reputation. Basically the legal structures only really would have to exist to supplement the algorithmic social structures. The problems come when we speak in a language which attracts enforcement entities that our community does not need or want.

So we have to use the language which makes sense for what our community is trying to be. Our community will develop algorithms which will measure trust and reputation well enough that sooner or later there will not be a need for contracts. Just someone's word will be enough because their reputation will be their most important asset.

This means it will be in their own best interest to maintain that reputation. The threat of prison never really stopped people from scamming each other but if you wonder why everyone isn't a scammer it's because some people care more about their reputation and others don't. So by keeping score of how much each person cares about the community or how much each person gives back you can form legal structures around that data formula.

Decentralized trust and reputation are very powerful and I think so far most of the world underestimates how powerful. If we had those two components then all the institutions and legal enforcers set up wouldn't be necessary.
« Last Edit: October 29, 2014, 11:47:53 PM by luckybit »
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Offline Mysto

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Re: BitShares to become Decentralized Autonomous Community
« Reply #5 on: October 29, 2014, 11:34:20 PM »
On the other, it makes me fearful that attacks are coming.

The attackers will inevitably come. Whether it is this year or in 5, one thing is for certain they will come...

I don't think this will hurt the price of BTS but if it does I would rather a little price drop now than the destruction of BTS when the attackers come.

 +5% to the OP

Edit: It's going to be a lot harder to explain BTS without those metaphors.

Offline Empirical1.1

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Re: BitShares to become Decentralized Autonomous Community
« Reply #6 on: October 29, 2014, 11:43:37 PM »
 +5% I like it

Offline yellowecho

Re: BitShares to become Decentralized Autonomous Community
« Reply #7 on: October 29, 2014, 11:56:36 PM »
Companies are contractual entities while communities are voluntary associations.
...
BitShares will be a self-governing community which elects delegates who serve the community and enforce the social consensus that majority stakeholder opinion rules.   

The BitShares community is a contract-free zone where at no point in time shall there exist a legal obligation for any party to behave any way in the future.   We shall stick to these principles and rely on reputation and community coordination to facilitate efficient commerce with low overhead. 
...
BTS is bigger than any one of us and has the potential to unite everyone under a fully voluntary society. 

Lets make this happen... lets change the world and reimagine BitShares.

 +5% +5% +5% +5% +5%
Giving a whole new meaning to DACs-  I absolutely love it!! 
After reading the FollowMyVote whitepaper and hearing this news, I'm seriously getting chill bumps.. our Decentralized Autonomous Community could truly change the world!  I feel proud and honored being a part of it.
696c6f766562726f776e696573

Offline pseudoscops

Re: BitShares to become Decentralized Autonomous Community
« Reply #8 on: October 30, 2014, 12:14:43 AM »
When you are preaching to the choir this sounds awesome. When you are not, it becomes a tougher sell.

I have to ask - was this run through Brian and the marketing team before being announced? What is Brian's view on this if so? I think it's really important for the community to know that it was at least discussed with him first? Because if it wasn't and I were him, I'd be really pissed right now and losing patience. This decision will radically alter the marketing message he has to push going forward.

I realise that there are larger things at play here than just marketing, SEC etc, but on first blush this decision does not seem to have had much community discussion. The decision, it appears, has already been made. No real discussion, at least not here on the forum. Seems kinda perverse given the nature of the post.

My Spidey senses are tingling again, I honestly can't work out if it's in a good or a bad way yet. Better sleep on it I guess.
« Last Edit: October 30, 2014, 02:39:15 AM by pseudoscops »

Offline Ander

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Re: BitShares to become Decentralized Autonomous Community
« Reply #9 on: October 30, 2014, 12:38:10 AM »
I have to ask - was this run through Brian and the marketing team before being announced? What is Brian's view on this if so? I think it's really important for the community to know that it was at least discussed with him first?

Its probably actually coming from Marketing, (and/or Legal). 

I think BM has learned by now not to just randomly post his thoughts on the forum, after what happened last time.
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Offline fuzzy

Re: BitShares to become Decentralized Autonomous Community
« Reply #10 on: October 30, 2014, 12:47:26 AM »
We (our greed) will be our own worst enemy.  Always rememer that.
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Offline GaltReport

Re: BitShares to become Decentralized Autonomous Community
« Reply #11 on: October 30, 2014, 12:50:03 AM »
BitShares to become Decentralized Autonomous Community

...
To this end the funds held by I3 for development will be divided among the core developers who will work together as independent parties to grow the community... People have stated that I have "too much power", ...

I totally get the idea of creating an autonomous "company" and will be interested to see what you mean by
"work together as independent parties".  Sounds a little at odds with itself.

I hope it hasn't escaped your notice that some people want you to be in charge and to make decisions as the leader that you are and that their confidence and willingness to invest in this is based on that.  Having an army of people "in charge" doesn't inspire confidence IMHO.  Hopefully it doesn't turn out that way.  As you've said, decentralization is a tactic, not an end in itself.  Just saying...my 2 cents.

Edit: Real companies have leaders that take charge and make decisions, granted they work with a team but still, there is someone that is accountable and serves to set the agenda and marshal the resources of the organization. 
« Last Edit: October 30, 2014, 12:57:58 AM by GaltReport »

Offline bytemaster

Re: BitShares to become Decentralized Autonomous Community
« Reply #12 on: October 30, 2014, 12:57:53 AM »
I have to ask - was this run through Brian and the marketing team before being announced? What is Brian's view on this if so? I think it's really important for the community to know that it was at least discussed with him first?

Its probably actually coming from Marketing, (and/or Legal). 

I think BM has learned by now not to just randomly post his thoughts on the forum, after what happened last time.

This overall goal was discussed with the team and Adam from Follow My Vote and we are coordinating with Brian to revamp the marketing for the BitShares launch.    Adam is really a huge asset and is helping us a lot.
For the latest updates checkout my blog: http://bytemaster.bitshares.org
Anything said on these forums does not constitute an intent to create a legal obligation or contract between myself and anyone else.   These are merely my opinions and I reserve the right to change them at any time.

Offline bytemaster

Re: BitShares to become Decentralized Autonomous Community
« Reply #13 on: October 30, 2014, 12:59:43 AM »
BitShares to become Decentralized Autonomous Community

...
To this end the funds held by I3 for development will be divided among the core developers who will work together as independent parties to grow the community... People have stated that I have "too much power", ...

I totally get the idea of creating an autonomous "company" and will be interested to see what you mean by
"work together as independent parties".  Sounds a little at odds with itself.

I hope it hasn't escaped your notice that some people want you to be in charge and to make decisions as the leader that you are and that their confidence and willingness to invest in this is based on that.  Having an army of people "in charge" doesn't inspire confidence IMHO.  Hopefully it doesn't turn out that way.  As you've said, decentralization is a tactic, not an end in itself.  Just saying...my 2 cents.

Edit: Real companies have leaders that take charge and make decisions, granted they work with a team but still, there is someone that is accountable and serves to set the agenda and marshal the resources of the organization.

There are leaders and then there are rulers.   I hope the lead the team without ruling the team.   
For the latest updates checkout my blog: http://bytemaster.bitshares.org
Anything said on these forums does not constitute an intent to create a legal obligation or contract between myself and anyone else.   These are merely my opinions and I reserve the right to change them at any time.

Offline Ander

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Re: BitShares to become Decentralized Autonomous Community
« Reply #14 on: October 30, 2014, 01:03:02 AM »
I also hope it hasn't escaped your notice that some people want you to be in charge and to make decisions as the leader that you are and that their confidence and willingness to invest in this is based on that.  Having an army of people "in charge" doesn't inspire confidence IMHO.  Hopefully it doesn't turn out that way.  As you've said, decentralization is a tactic, not an end in itself.  Just saying...my 2 cents.

I agree.  In Bytemaster we trust.


When we had the whole 'merger' proposal thread a couple weeks back, my reaction was super positive, and the market's reaction was violently negative.
My reaction to this post is more negative.  I dont see how it really helps anything, aside from potentially protecting from legal attacks.  Who knows what the market will do, everyone else is apparently crazy, so maybe BTSX will go up now
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