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Offline fluxer555

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AGS Funds = Stage 1 Booster Rockets
« on: November 01, 2014, 03:59:09 AM »

I remember reading that I3 said they want to make the AGS Funds last. I don't think this is smart.

A DAC that can fund its own development is no doubt game changing. But, in terms of bootstrapping young DACs, it's sort of like trying to move your car from standstill while in 5th gear. If it even moves moving at all, it will accelerate very slowly, be highly inefficient, and if you're not careful could totally f*** up your engine.

What I mean is, $2500 a month per delegate at max inflation is going to take a long time to build up momentum. That's fine, except we have booster rockets, called AGS Funds.



I think that once all system checks say 'GO', we should fire up those engines and spend the AGS funds rapidly. We shouldn't try to stretch them out, because we already have a system for sustained funding (dilution). If everything goes to plan, the AGS Funds will bring us above escape velocity and we won't have to dilute BTS holders unreasonably. Delegates could be earning $10k per month with 3-5% dilution, and meanwhile we'd have all eyes on us, bringing in new money and talent.
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Offline Stan

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Re: AGS Funds = Stage 1 Booster Rockets
« Reply #1 on: November 01, 2014, 04:05:59 AM »
I remember reading that I3 said they want to make the AGS Funds last. I don't think this is smart.

A DAC that can fund its own development is no doubt game changing. But, in terms of bootstrapping young DACs, it's sort of like trying to move your car from standstill while in 5th gear. If it even moves moving at all, it will accelerate very slowly, be highly inefficient, and if you're not careful could totally f*** up your engine.

What I mean is, $2500 a month per delegate at max inflation is going to take a long time to build up momentum. That's fine, except we have booster rockets, called AGS Funds.



I think that once all system checks say 'GO', we should fire up those engines and spend the AGS funds rapidly. We shouldn't try to stretch them out, because we already have a system for sustained funding (dilution). If everything goes to plan, the AGS Funds will bring us above escape velocity and we won't have to dilute BTS holders unreasonably. Delegates could be earning $10k per month with 3-5% dilution, and meanwhile we'd have all eyes on us, bringing in new money and talent.


Your analogy warms this old rocket scientist's heart!  :)
That's exactly what we now plan to do.
(Before we didn't have any main engines in place.)
The boosters will increase our dynamic pressure to the point where the ram-jet delegate pay engines can take over at full thrust.
After that we can "press to MECO", except with this propulsion system we never reach Main Engine Cut Off.


« Last Edit: November 01, 2014, 04:14:14 AM by Stan »
Anything said on these forums does not constitute an intent to create a legal obligation or contract of any kind.   These are merely my opinions which I reserve the right to change at any time.

Offline luckybit

Re: AGS Funds = Stage 1 Booster Rockets
« Reply #2 on: November 01, 2014, 04:08:08 AM »
So when are we gonna start up the gift economy so everyone can donate to improve their reputations?

Make it easy for people to give a recurring donation.  Churches run on recurring donations already.
« Last Edit: November 01, 2014, 04:10:09 AM by luckybit »
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Offline fluxer555

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Re: AGS Funds = Stage 1 Booster Rockets
« Reply #3 on: November 01, 2014, 04:12:34 AM »
Your analogy warms this old rocket scientist's heart!  :)
That's exactly what we plan to do.
The boosters will increase our dynamic pressure to the point where the ram-jet delegate pay engines can take over at full thrust.
After that we can "press to MECO", except with this propulsion system we never reach Main Engine Cut Off.

+5% That's great to hear, Stan. How much are AGS Funds worth right now?
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Offline Stan

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Re: AGS Funds = Stage 1 Booster Rockets
« Reply #4 on: November 01, 2014, 04:19:07 AM »
Bytemaster is calculating the remaining fuel burn rate right now.
I'm guessing at the current burn rate we have six months max to quadruple the market cap.
If we do, we will have reached escape velocity, and all will be swell.

Anything said on these forums does not constitute an intent to create a legal obligation or contract of any kind.   These are merely my opinions which I reserve the right to change at any time.

Offline jsidhu

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Re: AGS Funds = Stage 1 Booster Rockets
« Reply #5 on: November 01, 2014, 04:22:22 AM »
Bytemaster is calculating the remaining fuel burn rate right now.
I'm guessing at the current burn rate we have six months max to quadruple the market cap.
If we do, we will have reached escape velocity, and all will be swell.
Quadruple based on today or on avg price? We dropped another 10% ish today
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Offline fluxer555

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Re: AGS Funds = Stage 1 Booster Rockets
« Reply #6 on: November 01, 2014, 04:28:48 AM »
From the AGS Google Spreadsheet document, it seems that we have 3375 BTC available still, which at todays rate of $340 is $1,147,500. If we spend that over 6 months that's spending about $190k per month.

Exciting stuff, makes me feel better about buying in to these super low prices.
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Offline fluxer555

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Re: AGS Funds = Stage 1 Booster Rockets
« Reply #7 on: November 01, 2014, 04:39:38 AM »
That's exactly what we now plan to do.
(Before we didn't have any main engines in place.)

For what it's worth, it was smart to make them last until this point, because now we're going to need as much as we can get!
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Offline Ander

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Re: AGS Funds = Stage 1 Booster Rockets
« Reply #8 on: November 01, 2014, 05:01:30 AM »
Bytemaster is calculating the remaining fuel burn rate right now.
I'm guessing at the current burn rate we have six months max to quadruple the market cap.
If we do, we will have reached escape velocity, and all will be swell.

And if not, we need to elect multiple paid delegates per developer? 

Thats not the worst failure case.  Its way better than the previous failure case where the funds run out and bitshares dies!
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Offline donkeypong

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Re: AGS Funds = Stage 1 Booster Rockets
« Reply #9 on: November 01, 2014, 06:09:02 AM »
Great analogy!

Offline mint chocolate chip

Re: AGS Funds = Stage 1 Booster Rockets
« Reply #10 on: November 01, 2014, 08:51:29 AM »
Great analogy!

Agreed, but it really has not been the best week for rocket take-offs to outer space.

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Re: AGS Funds = Stage 1 Booster Rockets
« Reply #11 on: November 01, 2014, 08:59:05 AM »
Bytemaster is calculating the remaining fuel burn rate right now.
I'm guessing at the current burn rate we have six months max to quadruple the market cap.
If we do, we will have reached escape velocity, and all will be swell.
Quadruple based on today or on avg price? We dropped another 10% ish today
20% now.
f***

Offline liondani

Re: AGS Funds = Stage 1 Booster Rockets
« Reply #12 on: November 01, 2014, 10:50:23 AM »
Bytemaster is calculating the remaining fuel burn rate right now.
I'm guessing at the current burn rate we have six months max to quadruple the market cap.
If we do, we will have reached escape velocity, and all will be swell.
Quadruple based on today or on avg price? We dropped another 10% ish today
20% now.
f***

maybe we must first turn the rocket to the right direction!  :P

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Offline speedy

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Re: AGS Funds = Stage 1 Booster Rockets
« Reply #13 on: November 01, 2014, 11:00:44 AM »
I still believe in the product and vision. BitUSD as a concept is totally undervalued right now.

What we need is good news about BitUSD onramps.

Offline Geneko

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Re: AGS Funds = Stage 1 Booster Rockets
« Reply #14 on: November 01, 2014, 11:09:13 AM »
Bytemaster is calculating the remaining fuel burn rate right now.
I'm guessing at the current burn rate we have six months max to quadruple the market cap.
If we do, we will have reached escape velocity, and all will be swell.
Quadruple based on today or on avg price? We dropped another 10% ish today
20% now.
f***

maybe we must first turn the rocket to the right direction!  :P



I am simply in love with this community!!
« Last Edit: November 01, 2014, 11:22:46 AM by Geneko »

 

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