I'm thinking of putting a significant chunk of my btc holdings into bitshares
after having realized the potential of DPOS (everything I dreamed bitcoin would
Heyho .. very welcome to the community!
That said i have some questions about bitshares x that I haven't really been
able to find proper information about. Some of them might be dumb or overly
paranoid, so be warned. Most are about Dan Larimer and his role as lead
developer/"CEO" of the network. I see no reason to not trust him, but I think
it is important to know this information and it would help me determine how
much I'm willing to invest.
Sure .. do you investigation properly!
BTW, we have a "stupid questions thread":https://bitsharestalk.org/index.php?topic=8390.0
mostly technical questions there
1) how many developers are working on the bitshares? Are there any independent
developers not "controlled" by dan larimer? Is development being organized
solely through the github framework?
No single developer is working on bitshares. .. thats because bitshares is a brand .. a ecosystem ..
What you most certainly mean is either the bitshares toolkit which is developed
by the developers of Invictus Innovations and some others .. (should all be
mentioned at the team page at bitshares.org)
... or you are talking about bitshares-x (a 'fork' of the toolkit) .. which is
basically also "maintained" and not developed (same people, just different
Development happens solely over github (AFAIK)
2) what exactly does dan larimer own of the bitshares x network through the
invictus company, other than his personal shares? Are the amount of his
personal shares disclosed? What about other core developers?
- personal shares
- shares that correspond to the AGS address (PTS) (relatively big stake)
The AGS donations have been sent to a Angel address which held PTS during
snapshot .. Thisway, the whole development is payed. That's why it was a
'donation' and not an investment.
My guess is that Dan controls about 100M to 180M BTSX .. (just a guess)
3) does Dan have any official "policy" in the event of a conflict between him
and the delegates?
The only thing he can do is remove votes from the delegates. This is currently
his 'only' power (except for changing the code base) .. However, this power
worth less than 10% which means, once the latest delegate has more than 20%
votes, Dan cannot really "threaten" delegates.
The blockchain is out! Stakeholders decide about the delegates. Hopefully, the
stakeholders start voting more and more ... so that Dans influence vanishes
4) what are the amounts of "network owned shares", such as the "marketing fund"
that I have seen mentioned elsewhere.
Currently the USD reserve fund (pays the yield) has like 5666.8171 USD
(blockchain_get_asset USD BTSX) .. The marketing fund is not network owned ..
I3 (Dan) is in control of them
5) I have seen mention of a chinese venture fund seeding the bitshares
development. What kind of compensation from the network have they received? Has
the amount of shares they have been given been disclosed? Do they have any
special rights to control the network?
The payouts from the AngelShare funds (that's what I would interpret the
'development'/'marketing' fund) has a spreadsheet available that used to list all expenses and payouts.https://docs.google.com/spreadsheet/ccc?key=0AqTwk-e7yzJydDFnQmlkTVlkbWpubnJBbzR2UG5ucnc&usp=sharing#gid=0https://docs.google.com/a/invictus-innovations.com/spreadsheet/ccc?key=0AqTwk-e7yzJydFZ3bVVWT0o1OUwzXzdESHFBY0FkUWc&usp=sharing#gid=0
Not sure if payouts from bitshares-x are included ..
So: good question!
6) are there any huge early stakeholders known, and what are their stakes?(in
addition to the Chinese venture fund and developers) What are your
assessment of the risk of them hijacking the delegates?
I saw one single 50M BTSX transaction on the network .. but I guess that is
controlled by a CEO as it was voting for init-delegates.
Besides that I heard of an early investor that payed 10BTC a day to the AGS funds.
No idea who it is.
7) does dan larimer intend to stay on as project lead indefinitely, or does he
plan to retire when the system is mature, like satoshi?
.. at least he cannot 'disappear'
I am almost certain, that Dan will pimp his baby .. and once BitSharesX is
feature complete he will start a new chain with a completly different goal.
Lot's of discussion are going on that result in changes to the market engine
that cannot be implemented in btsx as that might f*** up investors stake. Dan
always stated that he is going to do whatever possible that maximizes
Thanks everyone for answering, and grats on being early investors in what is
clearly the technologically superior blockchain.
Welcome, and thanks for asking excellent questions!