Announcing BitShares PTS2
Shortly after we released PTS in November, Bytemaster reserved the right to release an upgrade when the technology was available. That time has arrived. As soon as DPOS finishes its validation trials and BitShares XT is released, we will turn our attention to PTS2 (which, thanks to the new DPOS toolkit, should be rather easy to do.)
PTS2 will honor all shares of PTS one-for-one, with the remaining unmined PTS shares mapped to a "reverse angel" marketing fund to help grow the value of PTS2 - and all its children.
The value proposition PTS2 has over PTS is as follows:
Much faster transaction times.
A profitable business model.
All the other benefits DPOS has over mining.
A million dollar promotion fund to help grow its value for those who hold its shares.
(Of course, the dollar value of this fund depends on whether the market value of PTS2 is greater or less than the value of PTS. Assuming that it is the same, the fund will be worth over a million dollars. As the use of this promotional fund begins to take affect, the value could increase to, say, 2 million dollars. Or it could be worth zero. It depends on what we come up with together.)
PTS and PTS2 will compete in the free market.
Every PTS share holder will get a PTS2 snapshot share as well.
It is up to the free market to decide which shares to hold and which to sell.
It is also up to each developer to decide which PTS version they will honor.
We plan to sell PTS and honor PTS2, but everyone is free to choose otherwise.
This is all we have settled on so far. We turn to the community for ideas about how to best use a genesis block "reverse angel address" to grow the value of a new DAC - especially a Grand ProtoDAC that is likely to get you shares in many other DACs that you can already see being developed in real time. Clearly, anything we do to increase demand for any of the children also increased demand for the parent - so there are many, many ways to do this.
We will be sharing some ideas of our own, but are very interested in getting community ideas and buy-in. The final plan will undoubtedly be a hybrid of the best of the best.
A lot of ideas have been discussed and debated over the past few months. Here's where we all can post the ones we like liked best - and hammer out a promo-plan that most of us can whole-heartedly support.