I have been thinking about this for a Long time now. In fact, Beyond Bitcoin was the beginning of this thought process and that started over a year ago! But as we continue to see projects like Masternodes prove to us just how correct Dan Larimer was in his understanding of the economics of flawed POW systems, we are going to begin seeing more and more projects move in our direction.There are a few scenarios I see potentially playing out here (in order from worst to best case--from a BitShares' Investors' reasonable vantage point):
1) Some "better" system arises: meaning it is backed by current entrenched interests and their trillions in stolen cash (gaining 100% traction on every news and media outlet, adoption by all large industries...etc), or a system that is truly
more empowering than DPoS (in my mind--highly unlikely
2) Masternodes will begin spreading through all POW chains, further centralizing the control of the infrastructure away from small holders (because small holders will not be able to combine forces to kick out a masternode).
3) Altchains recognize this and begin cloning DPoS.
So with this said, our community should start considering how we need to move forward in any of these given situations. All the above situations are already potentially in play as we speak and we would never know unless we somehow had a hand in it. It is from that vantage point that I reach out to the community. I hope that we can try to keep emotions at a minimum and look at it as objectively as possible because in the end we are going to have to find a balance between compensation for our community's vision and sacrifice while also working to keep the world's power structures truly decentralized and in the hands of all people.Let's start
:Threat Cases (From worst to Best from a BitShares' Investors' Long Term Benefit:
1) Some system backed by Goldman Sachs or other huge entrenched interests with unlimited
dark funding become acceptable alternatives (sold as legitimate), allying with the current system's players---who care more about short term profits and control over others than Freedom and Liberty, the ultimate reason for DPoS' and TITAN's construction.
1a) Some better system arises for this purpose (again---very
unlikely and thus not following the "worst to best" order).
2) Masternodes become an acceptable alternative to DPoS; DAC UN-Savvy investors think of short term profits only and nothing of the dangers of such a system in the long-term. ASIC Manufacturers and controllers of chipset construction gain control of currency creation and always have an edge on those without such power.
3) Altchains recognize the dangers of the prior two situations (absent the unlikely scenario 1a playing out) and decide to switch to DPoS.
3a) They see the sacrifices of many of the community members and offer them a large sum of their shares to pull them away from the BitShares community in an attempt to steal away the BitShares founders (also potentially fracturing the community and setting BitShares itself back)
3b) They choose not to sharedrop on us because they see no reason to, hoping their own communities and networks will prove superior to BitShares'
3c) They Sharedrop on all holders in hopes of converting a target demographic from the original BitShares Chain 4c) They Sharedrop on all holders because we have assets they want to use in order to establish further legitimacy in the realm of cryptocurrency, piggy-backing (and indirectly contributing to) the valuable foundation BitShares and its community has created. What assets currently currently form our foundation:
- A development team that fully understands DPoS and how to move forward with it---Led by the man who actually Engineered it
- faddat, his code guru and the open source hardware platform customizable for bitshares DACs that sharedrop on us (and on DAWN)
- A core community that has a deep understanding of the possiblities of DACs and DPoS
- A core community of IT experts capable of forking bitshares, building infrastructure and running delegates at short notice
- Beyond Bitcoin Hangouts/Conferences that turns the current Bitcointalk [ANN] model on its head
- Max Wright and BitSharesTV
- A community of Marketers who are working hard and sacrificing together to see marketing efforts throughMy initial proposal?
We have less than 6 weeks until one of our biggest competitors launches. I Propose we get consensus from all our assets to move forward to ensure 4c DPoS becomes the Crypto Gold Standard
. More to come on my ideas regarding how we do this, but I want to leave it at this to see our community's thoughts and to start the discussion. So let's begin!