Author [EN] [ZH] [ES] [PT] [IT] [DE] [FR] [NL] [TR] [SR] [AR] [RU] [EN] [ZH] [ES] [PT] [IT] [DE] [FR] [NL] [TR] [SR] [AR] [RU] [EN] [ZH] [ES] [PT] [IT] [DE] [FR] [NL] [TR] [SR] [AR] [RU] Topic: [canceled] #1 BitShares reward program: Vote for HappyShares and earn BTSX  (Read 1270 times)

0 Members and 1 Guest are viewing this topic.

Offline happyshares

  • Jr. Member
  • **
  • Posts: 33
    • View Profile

Hi folks,

at first glance payback delegates seems to be an appealing business idea. Nevertheless i have decided to cancel the HappyShares venture. After long but fruitful conversations with forum members i got the enlightenment, that payback delegates act counterproductive to BitShares health. This decision was all the harder, since the platform was already nearing publication. Taking advantage of our experience we will soon deliver a voting related webtool to the community.
So, in hope that our decision prevents other guys going in the wrong direction, we want to lead by example.

Stay tuned!


Hi community!
We want to introduce HappyShares - the first and #1 BitShares reward program to you. If you vote for our delegates you'll achieve pro-rata profit in BTSX.
With 66% delegate burn rate we increase common shareholder value and strengthen the ecosystem by our reliable cloud-based infrastructure. Beyond that we refund 50% of all delegate revenues back to our voters. A nice site is almost finished, where you can look up your earnings, stats and info.
Online in the next few days. Stay tuned.
« Last Edit: September 06, 2014, 01:26:20 PM by happyshares »

Offline santaclause102

  • Hero Member
  • *****
  • Posts: 2487
    • View Profile
Re: #1 BitShares reward program: Vote for HappyShares and earn BTSX
« Reply #1 on: July 20, 2014, 12:27:02 AM »
I think this (to a certain degree) could be a thread to the system (which also exists in POW/Bitcoin and POS/NXT). If it becomes the primary focus of shareholders to get tx fees as a reward for delegating their vote then we have two effects:
1) the focus when choosing delegates is not anymore primarily on trustworthyness, tx fees destroyed (dividends for all), delegates performance etc. but on how much the delegate give back to his voters.
2) economies of scale then play a role with dpos as with pow and (nxt) pos: The one that can profitably run a delegate and still pay more of the tx fees back to his voters than any other delegate will will the voters, which leads to centralization.
So it comes down to whether shareholders loose more by harming the system and this way themselves than gain from the pay back. The conclusion then would be a low reward for delegates to tweek the above calculation in favor of the system.
« Last Edit: July 20, 2014, 12:29:49 AM by delulo »

Offline muse-umum

  • Hero Member
  • *****
  • Posts: 717
  • BitShares everything
    • View Profile
Re: #1 BitShares reward program: Vote for HappyShares and earn BTSX
« Reply #2 on: July 20, 2014, 12:30:37 AM »
How can you tell who has voted for you ?
What if they remove their votes then ?

Offline CLains

  • Hero Member
  • *****
  • Posts: 2610
    • View Profile
  • BTS: clains
Re: #1 BitShares reward program: Vote for HappyShares and earn BTSX
« Reply #3 on: July 20, 2014, 12:36:31 AM »
 Yes. So long as voters can be tracked this seems to be a problem. Bytemaster halp.
Vote for BTS-2 witness: spectral (1.6.30)

Follow https://steemit.com/@clains

Offline happyshares

  • Jr. Member
  • **
  • Posts: 33
    • View Profile
Re: #1 BitShares reward program: Vote for HappyShares and earn BTSX
« Reply #4 on: July 20, 2014, 07:33:33 AM »
I think this (to a certain degree) could be a thread to the system (which also exists in POW/Bitcoin and POS/NXT). If it becomes the primary focus of shareholders to get tx fees as a reward for delegating their vote then we have two effects:
1) the focus when choosing delegates is not anymore primarily on trustworthyness, tx fees destroyed (dividends for all), delegates performance etc. but on how much the delegate give back to his voters.
2) economies of scale then play a role with dpos as with pow and (nxt) pos: The one that can profitably run a delegate and still pay more of the tx fees back to his voters than any other delegate will will the voters, which leads to centralization.
So it comes down to whether shareholders loose more by harming the system and this way themselves than gain from the pay back. The conclusion then would be a low reward for delegates to tweek the above calculation in favor of the system.

Hi, delulo maybe this could be a thread to the system to a certain degree. Since we are focussed on reliability, the first goal for us is to run delegates to make the bitshares ecosystem even stronger. Well, it's a free market and people can decide for themselves. If HappyShares will be successful, the people wanted so.

Offline happyshares

  • Jr. Member
  • **
  • Posts: 33
    • View Profile
Re: #1 BitShares reward program: Vote for HappyShares and earn BTSX
« Reply #5 on: July 20, 2014, 07:52:12 AM »
How can you tell who has voted for you ?
What if they remove their votes then ?

Hi heyD, here is the answer from a similar post:
The more happyshares delegates you approve, the more you can earn cause the rebate is going to be pro-rated based on everyones votes per delegate.
The current payout limit is 1 BTSX per trx signee address per delegate. So technically speaking we scan the blockchain, calculate all votes for our delegates and map the votings to the respective trx signee address. From this we calculate the shares for every voter. Once the delegate funds are large enough, we automatically pay the rebate to the voters signee address - and you'll be happy.

>> What if they remove their votes then ?

Lets say, we do a payout from block 1 to block 15000, then all your votes in this period determine your share, so your rebate. If you decide to disapprove the happyshares delegates later and we do the next payout, lets say from block 15001 to 30000, other people get payed more since less voters get the approx. same delegate funds.
Hope that helps so far!

Offline happyshares

  • Jr. Member
  • **
  • Posts: 33
    • View Profile
Re: #1 BitShares reward program: Vote for HappyShares and earn BTSX
« Reply #6 on: July 20, 2014, 08:02:01 AM »
Yes. So long as voters can be tracked this seems to be a problem. Bytemaster halp.

Hi everyone with certain IT skills can track the blockchain and can do, what we're trying to achieve. This is not harmful, since for privacy reasons we don't
allow stats lookup (later)by your public key but your native trx signee address.

Offline xeroc

  • Board Moderator
  • Hero Member
  • *****
  • Posts: 12280
  • ChainSquad GmbH
    • View Profile
    • ChainSquad GmbH
  • BTS: xeroc
  • GitHub: xeroc
Re: #1 BitShares reward program: Vote for HappyShares and earn BTSX
« Reply #7 on: July 20, 2014, 10:36:06 AM »
I like that idea .. +5% approval
Give BitShares a try! Use the http://testnet.bitshares.eu provided by http://bitshares.eu powered by ChainSquad GmbH

Offline CalabiYau

Re: #1 BitShares reward program: Vote for HappyShares and earn BTSX
« Reply #8 on: July 20, 2014, 10:45:34 AM »
voted for your delegates 1 - 10, interested how this works out.
(and for xeroc of course  :)) wallet_approve_delegate xeroc-delegate-1 true
« Last Edit: July 20, 2014, 10:50:34 AM by CalabiYau »

Offline happyshares

  • Jr. Member
  • **
  • Posts: 33
    • View Profile
Re: #1 BitShares reward program: Vote for HappyShares and earn BTSX
« Reply #9 on: July 20, 2014, 12:16:26 PM »
Hi xerox & calabi, thanks for your feedback:

wallet_approve_delegate calabiyau true
wallet_approve_delegate xeroc-delegate-1 true

Offline bytemaster

Re: #1 BitShares reward program: Vote for HappyShares and earn BTSX
« Reply #10 on: July 20, 2014, 05:48:03 PM »
I am not terribly worried about this kind of behavior because market competition to reduce transaction fees will quickly eliminate the potential for profit sharing.

I say let them do their best, in order to get elected they need to be in the top 101 by shareholder approval and if this is what shareholders want then that is what they will get.
For the latest updates checkout my blog: http://bytemaster.bitshares.org
Anything said on these forums does not constitute an intent to create a legal obligation or contract between myself and anyone else.   These are merely my opinions and I reserve the right to change them at any time.

Offline santaclause102

  • Hero Member
  • *****
  • Posts: 2487
    • View Profile
Re: #1 BitShares reward program: Vote for HappyShares and earn BTSX
« Reply #11 on: July 20, 2014, 10:53:55 PM »
I say let them do their best, in order to get elected they need to be in the top 101 by shareholder approval and if this is what shareholders want then that is what they will get.
this ignores the inherent freerider problem. https://bitsharestalk.org/index.php?topic=5868.msg78930#msg78930

Offline Agent86

  • Sr. Member
  • ****
  • Posts: 471
  • BTSX: agent86
    • View Profile
Re: #1 BitShares reward program: Vote for HappyShares and earn BTSX
« Reply #12 on: July 21, 2014, 12:21:56 AM »
DO NOT VOTE FOR HAPPYSHARES!!!
This sockpuppet just registered on the forum yesterday!  Do not trust!!

Offline Simeon II

  • Sr. Member
  • ****
  • Posts: 356
    • View Profile
Re: #1 BitShares reward program: Vote for HappyShares and earn BTSX
« Reply #13 on: July 21, 2014, 12:25:45 AM »
DO NOT VOTE FOR HAPPYSHARES!!!
 +5%

Vote  for delegates that will charge 5-15% fee, and thus will  effectively return the rest 85-95% directly to you immediately.
« Last Edit: July 21, 2014, 12:31:16 AM by Simeon II »

Offline CalabiYau

Re: #1 BitShares reward program: Vote for HappyShares and earn BTSX
« Reply #14 on: July 21, 2014, 06:03:01 AM »
I say let them do their best, in order to get elected they need to be in the top 101 by shareholder approval and if this is what shareholders want then that is what they will get.
this ignores the inherent freerider problem. https://bitsharestalk.org/index.php?topic=5868.msg78930#msg78930

O.K. - got it.

 

Google+