Author Topic: For those who haven't already seen: BTSX to BTS hard fork on nov 12th  (Read 5143 times)

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Offline Ander

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They can earn up to 50 BTS per block, and this reward halves every 4 years, like bitcoin.

Yay!  This is awesome, it allows us to calculate a hard cap.


Does it halve exactly every 4 years, just like bitocin?

Or does it adjust more often.

On one hand, being able to say "its exactly like bitcoin" is good.  Its clear, its something people already understand.

On the other hand, I feel like it would be better if it was a smaller reduction every year, or something like that, so the halving isnt such a big disruption.
Its possible that in 4 years we could reach a point where the developers pay is about to be cut in half, and then they will all quit or something.  A more gradual decrease might be better?


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Offline hotpotato

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Good to know!

So am I right to assume that the snapshot of Bitshares Play allocation for BTS holders will be taken at block 991700 during the hardfork?

1. BTS holders 35%
The block to take the snapshot on BTS undecided, BTS being the SuperDAC after the merger. The number of the block will be published after BTS being launched.
To simplify this, the block the merge happening is preferred to be the one BitShares PLAY honoring, but this depend on the details plan from BTS, we need to get the exact snapshot time so that we can inform the exchanges to take snapshot too.

Offline Rune

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https://github.com/BitShares/bitshares/releases

It looks like the first step in the transition to BTS will begin tomorrow. From what I can read here, the name change from BitsharesX to Bitshares will happen tomorrow at 5 pm GMT, and paid delegates will also be introduced then. The final rules for delegate pay are: They can earn up to 50 BTS per block, and this reward halves every 4 years, like bitcoin. I think that is an excellent solution to the bad impression people got from the initial introduction of "unlimited dilution". There is now a hard cap put in the code, and the total amount of BTS that will ever be in existence is now known (assuming no more sharedrops).