Author Topic: A BitShares Constitution?  (Read 17395 times)

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Offline fuzzy

always loved this idea. 

We should put it on real parchment paper and each contributor signs it.  How about that for an incentive to contribute to it?!   

Couldn't we slightly modify the most well-thought-out Consitution to date for the digital age?  "Authorities" would certainly fear taking any of its signers into custody....that is for damned sure. 
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Offline Ander

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Interesting idea. I can see both sides of this discussion.

a) Fixed dilution limits future unknowns.
b) Fixed dilution gives investors peace of mind.

I can't decide.

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Offline Method-X

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Interesting idea. I can see both sides of this discussion.

a) Fixed dilution limits future unknowns.
b) Fixed dilution gives investors peace of mind.

I can't decide.

Offline Ander

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This would be great, especially if the capped amounts were less than bitcoin's inflation over time. 

This could be achieved by having the max block reward for a paid delegate decrease over time, from 50 this year, to less in the future, similar to how bitcoin's block reward halves each 4 years.  (Ours doesnt have to have exactly the same schedule of decline).

I think this would help to calm down the investors who have been dumping because they dont like dilution, mostly because they dont understand how large it will be, and it seems to them that it could be any amount.
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Offline Empirical1.1

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We have a new, united BitShares beginning on Nov 5th.

We have an opportunity to define a new beginning about who we are and where we're going.
Whether that's a constitution, mission statement or just some basic values, I don't know.
(I think MethodX has previously expressed interest in helping draw up a draft for something like this.)

For me a big question is this...

Should BitShares define it's maximum annual dilution for eternity?

Personally, I think yes.

A BTS that is limited & defined like Bitcoin but puts the dilution towards positive, productive uses rather than wasteful centralised mining is something I think will be more successful.

Bytemaster, is open to that angle.

Its 2021:

https://en.bitcoin.it/wiki/Controlled_supply

Great... an enshrined constitution that stipulates an dilution rate strictly less than BTC's inflation rate would "tie our hands" and should be carefully considered, but from a marketing perspective there is a strong case.

https://bitsharestalk.org/index.php?topic=10816.msg142543#msg142543

Do you think we should cap our dilution rate in a constitution forever? Other thoughts?


« Last Edit: October 31, 2014, 08:39:52 pm by Empirical1.1 »