Dilution is massively overrated by most people. Mostly irrational fear. Let's look at the numbers for a second here:
Current annualized inflation is about 1.451%. At a market cap of 16 million that amounts to ~ $232k worth of BTS each year. That's merely ~ $636 daily. (Assuming that every delegate immediately sells all BTS.)
Now let's take a look at cmc. Currently we have 24h volume of over $40k. And that is on the low side, we often have $100k+. At $40k daily volume about 1.59% of volume could be caused by delegates selling off BTS. At $100k volume just 0.636%.
I hope people stop blaming dilution and the merger for everything that isn't going according to plan.
As far as dilution...it barely
registers as dilution and most all of it is going to "pay" people who could make far more if they simply stepped away from the project and chose to another job over
As for the merger...I still think it was a mistake. There really is no reason I can see why the separate chains could not have competed, built up their own separate dev teams using their delegate slots to build onto the broader ecosystem in a way that lifts all boats.
Just having 5 DACs that are powered by BitShares in the top 20 on Coinmarketcap would have been huge advertising. And there would have been nothing (to my knowledge) that would have kept BitSharesX
from later on hiring devs to implement DNS
features into its structure just like BitShares currently has done. In fact, by the time BitSharesX had matured to that level, DNS and Vote would have already done most of the hard work, so implementing the code on other chains would have likely required far less in terms of time, energy and manpower. Alternatively, the same could be said for Vote, DNS, and a number of other chains. Just ask BitShares PLAY and PTS...I know for a fact that they saved a good bit of time incorporating the main BitShares chains' work.
The merger was a case of making a decision without really getting the feedback from the community before doing so. I had reservations, but held them back at the time because I didn't want to make things worse. More and more though I find myself realizing that the community keeping relatively silent about these types of decisions has caused more harm than good. I suspect that if the PR initiative goes the wrong direction, the merger decision will not be our last headache.
However, even with those hiccups...BitShares and the ecosystem that is growing from it (of course, with a few growing pains) is still a beautiful thing.