Lots of good issues worthy of discussion!
The two years was intended to span our planned development cycle for BitShares and its spinoffs.
But I agree, it would probably still work if we mined out faster, since its all about speculative trading on the idea and promise of BitShares as a whole class of DACs. But having a longer tail during which mining could remain profitable due to anticipated ProtoShares appreciation seemed like a more conservative approach.
Concerning the "drop everything to mine" syndrome, we'll see what it's like when BitShares takes its snapshot. All ProtoShares holders will automagically get their initial stake, but I'm betting most will still participate in the new gold rush to get some more of the new BitShares Mother Lode. Hopefully we'll have the parameters dialed in by then and all the tools in place to make it a more pleasant experience for everyone -- including Bytemaster.
You are probably right - some people may sell their ProtoShares after they get their BitShares snapshot. However, I expect that by that time many will have fully internalized why ProtoShares is the gift that keeps on giving
. Snapshot after snapshot as new DACs debut. They will want to keep them to cash in again and again on whatever new offerings are on the horizon at that time. (If there is nothing on the horizon at that time, then shame on us and our competitors!)
Another possibility we might do with ProtoShares is to use them to clone TestShares, DAC
where people can experiment with trading algorithms without risking the stake they mined and traded so hard for. Then, when they have a strategy and feel competent to risk the Real Thing, they can move over to one of the BitShares exchanges and play for keeps.
That of course depends on whether there appears to be interest in such a thing.
I know not what course others may take, but you can have my ProtoShares when you pry them from my cold dead hands.
-- Patrick Henry and Charlton Heston