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Offline bitmeat

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How can BTS do better than MMC?
« on: November 17, 2014, 07:46:34 AM »

The 101 delegates setup reminds me of the 5 paid positions in MemoryCoin. We all know that failed miserably. I want to see if there are any lessons to be learned in that exercise.

Now, I know there is a good team in place for BTS, so perhaps the failure was entirely due to the team in MMC. FreeTrade seemed to aim for low hanging fruit incremental changes, while Bytemaster aims for innovation.

For example voting, even though was much harder in MMC, I think people were voting quite a lot more than currently in BTS. If anything I think voting could be further simplified. Would be nice if delegates could post links to their proposals and a place to track progress so they can be held accountable (or voted out if they don't perform)

Anyone care to comment with observation of MMC and any lessons that could be extracted from it and apply to BTS?

Offline bitmeat

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Re: How can BTS do better than MMC?
« Reply #1 on: November 18, 2014, 09:38:39 AM »
Hello echo chamber! Nice to meet you!

Offline xeroc

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Re: How can BTS do better than MMC?
« Reply #2 on: November 18, 2014, 09:55:02 AM »
Hello echo chamber! Nice to meet you!
:)

I'd love to see a more extensive use of the public data field of delegates. They CAN attach web URLs, mail addresses, balances, payouts, PGP keys and much more into the public fields of the delegate's account.. this feature is currently rarely used .. almost exclusively for the VERSION tag :(
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Offline btswildpig

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Re: How can BTS do better than MMC?
« Reply #3 on: November 18, 2014, 01:42:45 PM »
The 101 delegates setup reminds me of the 5 paid positions in MemoryCoin. We all know that failed miserably. I want to see if there are any lessons to be learned in that exercise.

Now, I know there is a good team in place for BTS, so perhaps the failure was entirely due to the team in MMC. FreeTrade seemed to aim for low hanging fruit incremental changes, while Bytemaster aims for innovation.

For example voting, even though was much harder in MMC, I think people were voting quite a lot more than currently in BTS. If anything I think voting could be further simplified. Would be nice if delegates could post links to their proposals and a place to track progress so they can be held accountable (or voted out if they don't perform)

Anyone care to comment with observation of MMC and any lessons that could be extracted from it and apply to BTS?

MMC had a lot of miner , so they dump while doing no good for the system .
Secondly , MMC was just a simple alt coin without a viable business model , so every thing MMC paid to the officers was a complete waste just like the miners .
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Offline biophil

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Re: How can BTS do better than MMC?
« Reply #4 on: November 18, 2014, 03:31:57 PM »
The 101 delegates setup reminds me of the 5 paid positions in MemoryCoin. We all know that failed miserably. I want to see if there are any lessons to be learned in that exercise.

Now, I know there is a good team in place for BTS, so perhaps the failure was entirely due to the team in MMC. FreeTrade seemed to aim for low hanging fruit incremental changes, while Bytemaster aims for innovation.

For example voting, even though was much harder in MMC, I think people were voting quite a lot more than currently in BTS. If anything I think voting could be further simplified. Would be nice if delegates could post links to their proposals and a place to track progress so they can be held accountable (or voted out if they don't perform)

Anyone care to comment with observation of MMC and any lessons that could be extracted from it and apply to BTS?

I was somewhat involved in MMC in its brief heyday. We never had more than about 10% of total stake voting; I'm pretty sire BTS has more than that.

Another huge design failure in MMC was its unbelievably aggressive inflation: I think its mining schedule had it fully mined in just 1 year. This meant that officers had a severe uphill battle to fight to try to make the coin maintain value.

MMC officers were paid a small fixed fraction of the block reward, so their salaries were only a small part of the overall inflation, and were forced to decrease over time as the block reward decreased.

So one of the biggest improvements that BTS made over MMC is that the inflation is dramatically more efficient.

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Offline toast

Re: How can BTS do better than MMC?
« Reply #5 on: November 18, 2014, 03:32:57 PM »
BTS governance is a big issue and I'm committed to getting all governance working on-chain while the existing team still has it together.

The next milestone is signing keys for balances so that we can do polling and proposals and stuff without risking lots of money.
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Offline xeroc

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Re: How can BTS do better than MMC?
« Reply #6 on: November 18, 2014, 03:37:55 PM »
The next milestone is signing keys for balances so that we can do polling and proposals and stuff without risking lots of money.
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