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Offline hansonwcn

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About the coins & chips in the DACs
« on: April 01, 2014, 02:37:20 AM »

About the coin & chips  in the DACs

    There are signs that many DAC developers intent to create new coins in their DAC systems.
 I don't think it's good for the BitSahares ecosystem.

    If every DAC has it's own coin, it becomes another "altcoin factory" and scattered the whole value of the BitShares ecosystem. It's not good for attracting  external capital.
    It will be more healthy if these DACs use bitUSD, bitCNY or something has "consensus value" as their chips to minimize the kinds of currency. Thus the whole values of the DACs ecosystem will be drived up.
    Of cause, all these based on the bitshares X.

    Maybe it exist better solution for this problem.
« Last Edit: April 01, 2014, 02:54:49 AM by hansonwcn »
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Offline XHC

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Re: About the coins & chips in the DACs
« Reply #1 on: April 01, 2014, 03:22:25 AM »
About the coin & chips  in the DACs

    There are signs that many DAC developers intent to create new coins in their DAC systems.
 I don't think it's good for the BitSahares ecosystem.

    If every DAC has it's own coin, it becomes another "altcoin factory" and scattered the whole value of the BitShares ecosystem. It's not good for attracting  external capital.
    It will be more healthy if these DACs use bitUSD, bitCNY or something has "consensus value" as their chips to minimize the kinds of currency. Thus the whole values of the DACs ecosystem will be drived up.
    Of cause, all these based on the bitshares X.

    Maybe it exist better solution for this problem.
Shouldn't DACs have their own DAC-shares to do fund raising, or the coins you mentioned don't mean DAC-shares?

Offline donkeypong

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Re: About the coins & chips in the DACs
« Reply #2 on: April 01, 2014, 05:25:00 AM »
I agree in principle. Enough coins already and let's not dilute the Bitshares ecosystem. But DAC developers should be free to create their own business models; some will work and others will fail. And if you think about it, pumping and maintaining a coin takes a huge amount of time, energy, and cost, which might be better spent promoting the DAC itself. If someone needs seed money, it might be a lot easier to run an IPO on Bitshares Me.

Offline toast

Re: About the coins & chips in the DACs
« Reply #3 on: April 01, 2014, 05:26:43 AM »
DACs need control of their shares on a blockchain to function, otherwise they cannot add economic value and can only facilitate trust trading
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Offline biophil

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Re: About the coins & chips in the DACs
« Reply #4 on: April 01, 2014, 02:34:03 PM »
About the coin & chips  in the DACs

    There are signs that many DAC developers intent to create new coins in their DAC systems.
 I don't think it's good for the BitSahares ecosystem.

    If every DAC has it's own coin, it becomes another "altcoin factory" and scattered the whole value of the BitShares ecosystem. It's not good for attracting  external capital.
    It will be more healthy if these DACs use bitUSD, bitCNY or something has "consensus value" as their chips to minimize the kinds of currency. Thus the whole values of the DACs ecosystem will be drived up.
    Of cause, all these based on the bitshares X.

    Maybe it exist better solution for this problem.

What you propose is an excellent idea, but as I understand it, it's quite technically challenging (has never been done before). I don't completely understand how they're planning to implement it, but I've heard bytemaster mention "cross-chain trading" a time or two, which would allow people to send value back and forth between DACs.

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Offline CWEvans

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Re: About the coins & chips in the DACs
« Reply #5 on: April 01, 2014, 03:31:37 PM »
DACs need control of their shares on a blockchain to function, otherwise they cannot add economic value and can only facilitate trust trading

Each DAC operates like a company, and its shares' value should be a function of the expected future value created by the DAC, adjusted for how risky the venture is.

Conventional companies' founders issue shares in those specific companies, and not alt-shares.

Hopefully, this will become clearer as more diverse DACs come online. As it is, the only ones that the vast majority see are altcoin DACs, which really are just altcoin mills.

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Re: About the coins & chips in the DACs
« Reply #6 on: April 02, 2014, 02:37:45 AM »
    If every DAC has it's own coin, it becomes another "altcoin factory" and scattered the whole value of the BitShares ecosystem. It's not good for attracting  external capital.

The point is for it to become an alt-company factory funded and coordinated by the holders of ags/pts. External capital isn't a problem given the existence of the ags/pts social consensus.

Offline sfinder

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Re: About the coins & chips in the DACs
« Reply #7 on: April 02, 2014, 08:07:38 AM »
DACs need control of their shares on a blockchain to function, otherwise they cannot add economic value and can only facilitate trust trading

elaborate your argument, please
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Offline toast

Re: About the coins & chips in the DACs
« Reply #8 on: April 02, 2014, 01:56:38 PM »
DACs need control of their shares on a blockchain to function, otherwise they cannot add economic value and can only facilitate trust trading

elaborate your argument, please

DACs get (most of) their value as precommitment tools. They help people move to the globally best payoffs by allowing actors to make credible precommitments in situations where otherwise there is incentive to screw someone over. This means the DAC has to be able to control the payoffs in some way
Do not use this post as information for making any important decisions. The only agreements I ever make are informal and non-binding. Take the same precautions as when dealing with a compromised account, scammer, sockpuppet, etc.

 

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