Ok, so there's been a conversation going on about how to fund the creation of future DACs as there are far more opportunities than funds. I believe the proposal put forward by Bytemaster to have 100% of Bitshares represented by angelshares and protoshares is a non-starter because it means that all coins that will potentially be created will be owned only by people able to contribute in Bitcoin, when the perception of PTS currently (as a "CPU MINABLE COIN" is that you don't need to do that. I believe even if the vast majority of mining being performed by participants on the network is done by botnets or cloud miners, the initial marketing of Protoshares makes it untenable to change the social contract in any way that is not optional on a investor by investor basis.
With that in mind, I think we all recognize the value of having sufficient funds devoted to the creation of DACs and I for one have no problem putting my money where my mouth is.
I would encourage the creation of PTS 2.0 (Angelcoins) that would be another 10% of Bitshares's 21 million, so 20% of total Bitshares would be claimed at the beginning through these two rounds of "venture".
Instead of the validated mining plan that turns Invictus into a central point of failure, Invictus should set up weekly or monthly "Exodus Addresses" and replicate Mastercoin, people send BTC or PTS to "Angel" addresses and at the end of that round whatever the allocation is, is divided evenly between the people who sent value on a proportional basis. These funds should be clearly labeled with regard to how each % will be spent.
The exodus address would be transparent, so if people see that not many have invested they will want to invest becaues they will get more value for their value. Invictus controls the address, but each distribution basically results in a large block that issues shares to all investors in the last round. If I were you I would accept both Bitcoin and PTS in these angel rounds, and accept PTS at a premium to Bitcoin.
2.1 million would be 21 months @ 100k Angelcoins per month - The deal stays the same with Protosharesholders, you get to raise a shitload of money to finance multiple DACs at once and try your new mechanism. The miners still working on PTS get to keep working, and you don't have to do anything.
Most importantly, Invictus hasn't committed to what they'll do with the other 80%, so when they really solve the problem and have the RIGHT idea their won't have tied yourself down.
What do you think?