TimeBank DAC

[fuzzy]

I think he wanted to fork bitshares and have a value add (messages, centralized betting system) with hopes to steal market share from bitsharesx, hey why not, aslong as there are people willing to pay above 0 satoshi's the guy is making money since hes a bag holder for Cinni and automatically becomes a whale for this new fork. Its a social consensus premine, but not well thought out. I suggest to rebrand the DAC and become a DAC and not a bitsharesx fork.. use the toolkit for its purposes, dont try to steal the idea like a copy cat coin which has been proven to be a waste of engineering effort other than feeding the greedy, which is against the whole idea of bitcoin and cryptocurrency in general.

I personally would stay clear away from something like this, unless it has a proper business proposal similar to http://followmyvote.com/wp-content/uploads/2014/08/The-Key-To-Unlocking-The-Black-Box.pdf

Holding 150(a large chunk) out of 187.5 million coins and forking btsx did it for me. Gluck to anyone to falls for this.

Even if he does change the project based on our suggestions, we know his intentions.

has he finalized this sharedrop rate or is it open to being changed with good arguments for doing so? 
Id like to bring him on a dev hangout to let the community dig in and let him defend his positions or change them. This is a first time so I think this is an opportunity for a class of sorts to consider the possibilities. Not at all upset about 10/10pts ags (it is the consensus afterall), but it would be interesting to see some of them sharedropped on stellar or ripple to bring gateways online.  Many possibilities with a sharedrop that can help the ecosystem as a whole.


in my opinion, this was bound to happen. I was personally looking forward to many bitshares based banks and exchanges because I think of it as potentially taking some value from bitshares marketcap (initially) while diversifying our holdings automatically and advertising the concepts we have grown to consider laws in the cryptouniverse that few others recognize (yet).

I am pumped to finally start actively delving into this. BitShares ability to grow industries around altcoins to make them competitive with bitcoin.  This was why Beyond Bitcoin^x is so named...!

[xeroc]

be honest: have you thought dogecoin would still be around .. last year?

[donkeypong]

You need to develop your idea pal.

The great thing about this forum is that it's a place for the open interchange of ideas. From what I've read, Cinni already has been responsive to ideas from this thread. Give him time to develop this DAC idea. It may be crud or it may turn out to fill an important niche somewhere in the DAC space.

What I don't quite get is the notion of "time" here. Is it just a denomination of value or is there some other reason to use hours, minutes, and seconds? Maybe start a temporary staffing agency and, when people save up enough "time", they can take a vacation and order a temp to cover their job in the meantime? I'm joking here, at least halfway, but maybe it will stimulate a more important thought in someone's brain.

[CinniDev]

I have renamed the name of the project to TimeBank 

[38PTSWarrior]

It is like from the movie with justin timberlake, where they have time on their arms. You could use chips to implant under the skin.

LOL!  I am such a conspiracy buff, but this one seems harmless to me

If, however, they start taking people's lives with this DAC in the year 2084 I will be wholly against it!

The DACs will make violence counterproductive. People will only kill for other things but not for money. The rainforests will grow again and the money of the people will finance the craziest awesome projects.

[jsidhu]

I think he wanted to fork bitshares and have a value add (messages, centralized betting system) with hopes to steal market share from bitsharesx, hey why not, aslong as there are people willing to pay above 0 satoshi's the guy is making money since hes a bag holder for Cinni and automatically becomes a whale for this new fork. Its a social consensus premine, but not well thought out. I suggest to rebrand the DAC and become a DAC and not a bitsharesx fork.. use the toolkit for its purposes, dont try to steal the idea like a copy cat coin which has been proven to be a waste of engineering effort other than feeding the greedy, which is against the whole idea of bitcoin and cryptocurrency in general.

I personally would stay clear away from something like this, unless it has a proper business proposal similar to http://followmyvote.com/wp-content/uploads/2014/08/The-Key-To-Unlocking-The-Black-Box.pdf

Holding 150(a large chunk) out of 187.5 million coins and forking btsx did it for me. Gluck to anyone to falls for this.

Even if he does change the project based on our suggestions, we know his intentions.

[serejandmyself]

@ TS

You need to develop your idea pal. Its just that you say 80% to cinni, well for starters it shows that you ahve lots of this coin and you will get a huge share yourself..... Second you havent got a clear idea - a DAC is a company - whats a comapny about selling something that isnt even clear what it is. Its like if i took a box of matches and stuck a colored sticker on the box... well i wouldnt open a factory and register a company to sell those, cause no one would buy them (althought i might sell it as modern art LOL . As i wouldnt have an idea. If i invented self lighting matches then i have an idea. You see the difference?

What people are saying about timeshares in relation to the knows term is very interesting, suggest you look into it.

For example in russia (im sure it exists in other countires) you have a website, where people offer to sell their time for other time. For example im a transaltor and i sell one hour of my work for someone who needs it. The guy who buys it is a solicitor and i have a case coming up. Obviously solicitors time is worth more then a translator (ovious as in thats how its in todays society) .So i sell my hour for his 30 minutes (this is just an example, not to be taken for granted). Now i find this interesting. This has got a concept. If you were to develop this, i think it would be more interesting for people to invest in. IMHO

[bitcoinerS]

A real TimeShares DAC would be interesting. This.. not so much.

Real TimeShares DAC would be a market in timeshares.
http://en.wikipedia.org/wiki/Timeshare
"A timeshare is a property with a particular form of ownership or use rights."

A market in temporary property ownership or use rights could be a successful DAC.

[chryspano]

Hello BitShares community
I am making a DAC called TimeShares

TimeShares will have 187.5 million coins.
The distribution will be 80% to Cinni holders(150 million coins)
10% to PTS holders (18.75 million coins)
and 10% to AGS holders (18.75 million coins)

Users of TimeShares will be able to use units of time as the currency.
This detail will be made in the user interface rather than in the block chain itself. TimeShares will display a users balance as units of time and allow users to send units of time to each other.

In the time calculations in the user interface, each coin is calculated as 1 hour.
So if someone has a million TimeShares, his wallet balance is shown as 114 Years, 56 Days 39 Hours 59 Minutes 59 seconds.

When a user sends time, the user interface will convert the amount of time being sent back into actual coins before sending the transaction to the block chain.   
I haven't decided on the trading code yet. I am open to suggestions. Maybe TIME, HOUR, TSHARE, or something similar.

Since I am building this project as a BitSharesX fork, it will have BitSharesX's features too.

I will be also adding encrypted messaging. And later on a betting system that uses feeds.

I would love to hear your input and suggestions to make this project better.

Congratulations to the first ShitShares announcement !!!!





 

[emski]

Betting is an interesting idea.
If it is implemented properly it has some value.
We'll just wait and see anyway...

[jsidhu]

it IS AN ALT coin since he has a ton of CINNI to probably dump with that 80% allocation. Make it 40% and give 40% to btsx and maybe people will be interested.

[toast]

So you confirm that the real value is in the user-issued assets and "timeshares" could be called "MEshares" and it would work *exactly* the same way?

Yes it would work the same way but it wouldn't make sense to call it something that doesn't have time in the name if its a time-based currency.
I like the name Ebit suggested TimeBank

I understand what you are saying though.

Also yeah a big part of the value would be the user-issued assets.
I am also adding an encrypted messaging system and I'm going to be working on a betting system that uses feeds.

feels more like an altcoin

So it begins... "We'll call it ___shares, it will be for ____!"

Good luck with your alternatively branded BTSX! Looking forward.

[serejandmyself]

So you confirm that the real value is in the user-issued assets and "timeshares" could be called "MEshares" and it would work *exactly* the same way?

Yes it would work the same way but it wouldn't make sense to call it something that doesn't have time in the name if its a time-based currency.
I like the name Ebit suggested TimeBank

I understand what you are saying though.

Also yeah a big part of the value would be the user-issued assets.
I am also adding an encrypted messaging system and I'm going to be working on a betting system that uses feeds.

feels more like an altcoin

[CinniDev]

So you confirm that the real value is in the user-issued assets and "timeshares" could be called "MEshares" and it would work *exactly* the same way?

Yes it would work the same way but it wouldn't make sense to call it something that doesn't have time in the name if its a time-based currency.
I like the name Ebit suggested TimeBank

I understand what you are saying though.

Also yeah a big part of the value would be the user-issued assets.
I am also adding an encrypted messaging system and I'm going to be working on a betting system that uses feeds.

[toast]

So you confirm that the real value is in the user-issued assets and "timeshares" could be called "MEshares" and it would work *exactly* the same way?