Litecoin Sharedrop Fork

[charleshoskinson]

First I'd never touch a line of c++ code. Something functional and easy to maintain. Second, I'm really asking about notion of transfer of incumbency value.  Litecoin appears to be a good test set.

[CoinHoarder]

Sure, sharedrop everybody....no need to wait until theres a stable release on all platforms, lets just give them our bugs

Yes, another good reason. :)

[sschechter]

Sure, sharedrop everybody....no need to wait until theres a stable release on all platforms, lets just give them our bugs

[CoinHoarder]

I'm not sure I see the point. Sure, we may get some new fans (Litecoin users), but wouldn't this just make competition for BitsharesX, and give Litecoin users a half stake in that competition for doing absolutely nothing? I don't think it would be fair to snapshot participants, or even people whom have bought since then.

Forking BitsharesX at this point before the user base is mature seems like shooting yourself in the foot, and would reduce liquidity on both centralized exchanges and in the bitasset marketplace.

On top of that, all of the Litecoin users could just dump on the market and it would be a risky investment for anyone that isn't a AGS/Protoshare/Litecoin investor. As it is now with BitsharesX, everyone has invested something to get their stake. Whether it be investing BTC/PTS in AGS, providing CPU processing power for (or investing in) PTS, or purchasing their BTSX on the free market, this all provides incentive for people not to dump BTSX on the market for less than what they put in and upholds the price. If you make a fork and give 50% of the money supply away for free, this incentive would not be as strong for the 50% who got it for free.

BitsharesX is too small right now to try to fork the the community IMO.

Did anyone read this? I feel like I had some good points... Replace Litecoin in the post with Bitcoin... Ripple.. Stellar... I still feel the same way. This is a business and creating competition for BitsharesX and giving a group of people equity for free is not a good idea at this time.

[liondani]

what about dropping to BTC?
I don't see Litecoin as our competitor...

[CLains]

BitShares has no plans to create a "coin" - the first project to do this, teaming up with marketing etc. and honoring the 10/10 social consensus is going to the moon.. That's just how it is.

Dropping to Litecoin is just a marketing strategy that must be evaluated promotion/cost.

[xeroc]

For everyone that doesn't remember, we are trying to start a company here.  We need to act accordingly.

Charles is a jaded scientist with no vested interest in our project.  Taking leadership from him would be counter productive.  I advise others to tell him to get lost just as the many projects in recent months have.

You seem to be in a very bad mood today :-(

[biophil]

I'm pretty ambivalent about any such sharedrop. However, I'll echo what other people around here are saying: whatever your percentage for LTC, you will be doing yourself a great disservice if you do not drop 10% to PTS (and 10% to AGS, but it looks like you're already thinking about that).

If you give to AGS and not PTS, you're flouting the social consensus! People do not take well to that around here!

[jae208]

I don't see any reason to fork BitSharesX, but I do think a generic DPOS coin sharedropped onto Litecoin would be a very interesting experiment.  I would suggest 10% PTS 10% AGS and 80% LTC.  As  bitshares supporters we already have a reason to want this chain to succeed.  The bigger danger would be litecoiners dumping it IMO.  I say lets give them 80% and call it exactly what it is. It is a gift of superior technology.

I was thinking the same.  +5%
If Litecoiners dump it and if the network has any value whatsoever it'll start to concentrate in the hands of the few as it always does.

[puppies]

I don't see any reason to fork BitSharesX, but I do think a generic DPOS coin sharedropped onto Litecoin would be a very interesting experiment.  I would suggest 10% PTS 10% AGS and 80% LTC.  As  bitshares supporters we already have a reason to want this chain to succeed.  The bigger danger would be litecoiners dumping it IMO.  I say lets give them 80% and call it exactly what it is.  It is a gift of superior technology.

[jae208]

I'm also curious to see if the incumbency value of Litecoin would transfer to a new chain. If 100% of Litecoin's value transferred to this new chain(most likely wouldn't) and assuming that AGS/PTS got at least 20% that is over $30,000,000 worth of value transferred to AGS/PTS holders. I'm also assuming that a fork wouldn't destroy the current BitsharesX network. Bitcoin has been cloned countless times but its still king.


However, no one is really obligated to give AGS/PTS holders anything but of course that would mean no support from our part.
BTW Lottoshares has $9,000,000 market cap and is number 10 not sure how it happened and if AGS/PTS holders have anything to do with that.

Also, it is actually good to spread the seed of DPOS far and wide so others can adopt and improve upon it and hopefully we all benefit from having a more robust system.

[xeroc]

Just a reminder ... if you do not sharedrop AGS and PTS by at least 10% .. you will not honor the social consensus and probably not receive much support from most parts of the community.

[fuzzy]

This one sounds mostly like an academic exercise

Exactly.  And BitsharesX is a company so we should approach this as a business decision.  Would sharedropping add value to BitsharesX?  If so can that same value be achieved another way for cheaper?

IMO BitsharesX brings more value to Litecoin than Litecoin brings to BitsharesX.  The academic exercises can can be done for cheaper using other less expensive chains.. in fact, that same exercise could be done with PTS conversion.

Sharedropping for valuable tech like gateways  or Ethereum would be a different story..

Do it, then Sharedrop to Ripple or Stellar (15%) in addition to PTS (10%)/AGS (10%)/btsx (15%)/LTC (50%).  Make it part of the consensus for Ripple/Stellar that in order for their holders to receive the sharedrop, they must agree to work on gateways for all forks of btsx that sharedrop on their holders (Stellar would give a better PR image though, imo, and--later--access to social media).

Add functionality to the bitsharesx wallet so holders of bitsharesx forks can use only the bitsharesx wallet to claim shares in literally all subsequent forks (that honor social consensus).  Enable people to easily switch between exchanges and send transactions from chain to chain.  This would further arbitration opportunities between chains and would get a huge user base (nearly all litecoin's and stellars' holders) to download the bitshares^x wallet.  These are huge incentives we can offer in return for forks honoring social consensus...and we all get more price stability across chains in addition to a larger user base and incentivize all users to download and use the bitshares^x wallet.

[yellowecho]

This one sounds mostly like an academic exercise

Exactly.  And BitsharesX is a company so we should approach this as a business decision.  Would sharedropping add value to BitsharesX?  If so can that same value be achieved another way for cheaper?

IMO BitsharesX brings more value to Litecoin than Litecoin brings to BitsharesX.  The academic exercises can can be done for cheaper using other less expensive chains.. in fact, that same exercise could be done with PTS conversion.

Sharedropping for valuable tech like gateways  or Ethereum would be a different story..

[CoinHoarder]

I'm not sure I see the point. Sure, we may get some new fans (Litecoin users), but wouldn't this just make competition for BitsharesX, and give Litecoin users a half stake in that competition for doing absolutely nothing? I don't think it would be fair to snapshot participants, or even people whom have bought since then.

Forking BitsharesX at this point before the user base is mature seems like shooting yourself in the foot, and would reduce liquidity on both centralized exchanges and in the bitasset marketplace.

On top of that, all of the Litecoin users could just dump on the market and it would be a risky investment for anyone that isn't a AGS/Protoshare/Litecoin investor. As it is now with BitsharesX, everyone has invested something to get their stake. Whether it be investing BTC/PTS in AGS, providing CPU processing power for (or investing in) PTS, or purchasing their BTSX on the free market, this all provides incentive for people not to dump BTSX on the market for less than what they put in and upholds the price. If you make a fork and give 50% of the money supply away for free, this incentive would not be as strong for the 50% who got it for free.

BitsharesX is too small right now to try to fork the the community IMO.