Author Topic: Up to 27 100% delegates. Really?  (Read 7239 times)

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Offline toast

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This will be easier to address when delegates are reduced to block producers and all inflation to fund projects is done via proposals with escrows. Until then the low voter participation will make it easier for bad delegates to get and stay in.

People need to use "filler" delegates more aggressively so that an elected delegate actually represents majority approval. Like one guy runs several delegates for a low pay and people fill their recommendation list up with his delegates.
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Offline fuzzy

Where is the outrage for BTC miners not doing any marketing or development to further BTC? They sign blocks, the minimum requirement of a delegate, and take 100% pay. What they don't dump to pay for power and infrastructure goes straight into their pockets.

So BTC has higher inflation and 100% delegates with zero job requirements other than signing blocks. This is the gold standard we're held to?

Dont ask for rational discussion riverhead. Im sllwly coming to the realization that newmine only has an account here to disrupt and spread unnecessary FUD.  Everyone who is here should recognize that this is the first iteration of something as beautiful as bitshares.

Everythin wont be perfect, but at least it is economically superior to literally every other tech out there.  He expects perfection the first iteration which shows a complete lack of rationality.
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Offline Riverhead

Where is the outrage for BTC miners not doing any marketing or development to further BTC? They sign blocks, the minimum requirement of a delegate, and take 100% pay. What they don't dump to pay for power and infrastructure goes straight into their pockets.

So BTC has higher inflation and 100% delegates with zero job requirements other than signing blocks. This is the gold standard we're held to?
« Last Edit: January 25, 2015, 05:31:22 am by Riverhead »

Offline jae208

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I will hold out a few months more, but from what I have seen so far it seems self-funding with Delegates are working like a charm.

I have yet to see any tangible evidence that proves bitshares wouldn't be in the exact same spot had there been no 100% delegates. I have yet to see any evidence of anything beyond the status quo in October 2014.

Marketing delegates with no marketing results. No offense guys. I know you all talk and theorize about the possibilities but nothing has panned out so far.  A pretty good indicator is the subReddit subscribers or lack thereof. Yeah, yeah, yeah we waiting for 1.0. You cant sell a product before its released (Video Games, Movies, BitReserve, iPhones....  ;))

Developers would be doing the exact same thing had they not been a 100% delegate. Otherwise there high hopes of huge windfalls from their enormous holding would have zero chance of coming to fruition.

Gateway delegates have not produced any fiat to BTS gateway. Still producing a gateway using BTC which already existed and still exists had there not been a 100% delegate.

As I have stated before, Bitcoin is in the spot BitShares wants to be in. BTC did not need what all of you propose is necessary to grow BitShares. It happened because BTC holders wanted to grow their holdings or make a buck of the potential.

You guys realize that BitShares is more like a welfare program with its 100% delegates.  :o


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Offline fluxer555

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Incredibly we are STILL below the hard fork supply, almost 3 months later.

Nice try. I think the only reason you are under is because of all the burned bts when the share cap was 2 billion. Add the pre merger burns and we are probably over.

No need to guess, if you've been paying attention:

http://bitsharesblocks.com/charts/supply

Quote
Change in supply since the hardfork: -211,517.62 BTS

Offline NewMine

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Incredibly we are STILL below the hard fork supply, almost 3 months later.

Nice try. I think the only reason you are under is because of all the burned bts when the share cap was 2 billion. Add the pre merger burns and we are probably over.

Offline Ander

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Incredibly we are STILL below the hard fork supply, almost 3 months later.
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Offline bitmarley

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BTW, I'd recommend every delegate to fill in some data into the public json data. Some weeks ago we came up with a consensus about the protocol:

http://wiki.bitshares.org/index.php/Delegate/PublicData

Example script to do so:
https://raw.githubusercontent.com/xeroc/pytshares/master/setPublicData.py   ### use with caution as the payrate is part of it!

Shouldn't this be a required part of the process rather than being optional?


Offline robrigo

http://bitsharesblocks.com/charts/supply

"Total Supply of BTS" graph. It's interesting to watch the slope of that graph naturally increase over time as more paid delegates come on board. We definitely need to keep the downward pressure high to mitigate these effects, looks like it has been a wash so far. Will it stay below the January 1st high as more users join and use the network? Stay tuned.

Offline NewMine

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New mine also ignores the fact that so far the supply is down and had yet to surpass 2.5 billion. 

Also everyone would be looking for work rather than focus on development.

So your millions of personal shares wouldnt be enough incentive to churn something out? And your recent bonus of $50K isnt enough to buy your time for a few extra months to get 1.0 out seeming as everyone is holding their breath for a market cap jump upon its arrival?


Looks like a steady increase over the last 4 minutes.....
Code: [Select]
> blockchain_calculate_supply BTS

2,498,526,616.14493 BTS
>> blockchain_calculate_supply BTS

2,498,526,564.64493 BTS
>> blockchain_calculate_supply BTS

2,498,526,506.74493 BTS
>> blockchain_calculate_supply BTS

2,498,526,497.74493 BTS
>> blockchain_calculate_supply BTS

2,498,526,493.24493 BTS
>> blockchain_calculate_supply BTS

2,498,526,490.24493 BTS]


And then another 4 minutes. Up a thousand shares in under 10 minutes.
Code: [Select]
>> blockchain_calculate_supply BTS

2,498,527,138.64493 BTS
>> blockchain_calculate_supply BTS

2,498,527,088.64493 BTS
>> blockchain_calculate_supply BTS

2,498,527,085.64493 BTS
>> blockchain_calculate_supply BTS

2,498,527,084.14493 BTS]


Offline CLains

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New mine also ignores the fact that so far the supply is down and had yet to surpass 2.5 billion. 

Also everyone would be looking for work rather than focus on development.

 +5%

Offline CLains

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Read the last double newsletter NewMine to get an idea of how much stuff is happening.

http://us3.campaign-archive1.com/?u=ac6976e87d9e9f0eac4bbf19c&id=1f981f6040
http://us3.campaign-archive1.com/?u=ac6976e87d9e9f0eac4bbf19c&id=da7e2e91a3

Things are only accelerating, but we are still a couple months early before people looking in see the results of all this. Delegate pay is not sufficient for people to outright quit their jobs, so it goes to spare time contributions from a number of people who are getting increasingly involved and are launching their own businesses that are synergetic with BitShares. That you do not realize the potential of this incentive structure amazes me -  the second BitShares goes up a mere 10x 100+ people can quit their jobs and work full time expanding the infrastructure. There is an incredible amount of stuff that needs to be done to expand crypto into global industries, and this is the most groundbreaking and decentralized way to do it.  ;)

Offline bytemaster

New mine also ignores the fact that so far the supply is down and had yet to surpass 2.5 billion. 

Also everyone would be looking for work rather than focus on development.   

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Offline fuzzy

I will hold out a few months more, but from what I have seen so far it seems self-funding with Delegates are working like a charm.

I have yet to see any tangible evidence that proves bitshares wouldn't be in the exact same spot had there been no 100% delegates. I have yet to see any evidence of anything beyond the status quo in October 2014.

Marketing delegates with no marketing results. No offense guys. I know you all talk and theorize about the possibilities but nothing has panned out so far.  A pretty good indicator is the subReddit subscribers or lack thereof. Yeah, yeah, yeah we waiting for 1.0. You cant sell a product before its released (Video Games, Movies, BitReserve, iPhones....  ;))

Developers would be doing the exact same thing had they not been a 100% delegate. Otherwise there high hopes of huge windfalls from their enormous holding would have zero chance of coming to fruition.

Gateway delegates have not produced any fiat to BTS gateway. Still producing a gateway using BTC which already existed and still exists had there not been a 100% delegate.

As I have stated before, Bitcoin is in the spot BitShares wants to be in. BTC did not need what all of you propose is necessary to grow BitShares. It happened because BTC holders wanted to grow their holdings or make a buck of the potential.

You guys realize that BitShares is more like a welfare program with its 100% delegates.  :o

Then just wait and see how far imptoved just the beyond bitcoin hangouts are when I can pay a team to help.  Then watch as marketin initiatives start gettin capitalized.  Newmine there is a thin line between being realistic and pessimistic. 
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« Last Edit: January 24, 2015, 08:37:50 pm by fuzzy »
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Offline fluxer555

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As I have stated before, Bitcoin is in the spot BitShares wants to be in. BTC did not need what all of you propose is necessary to grow BitShares. It happened because BTC holders wanted to grow their holdings or make a buck of the potential.

Bitcoin was able to bootstrap itself, because it had years of no competition. We don't have that luxury.