I just thought of a particularly tricky situation regarding snapshots of DACs with BitAssets and was hoping to get some reassurance or explanation of how we could handle this hypothetical situation.
Let's say we wanted to at some point create a snapshot of BTSX stake to fork off a BitShares X clone that allowed for dilution. The idea is that at the point of the fork people have equal stake in BTSX and BTSXD (BitShares X with dilution), but then they have the ability to sell one and buy more of the other depending on their preferences. After the fork, the price of BTSX would quickly drop while the price of BTSXD (after being available for trading on exchanges) would quickly rise from zero, until they reach a new initial equilibrium. Let's say the market is initially equally split on which DAC is better, so the price of BTSX suddenly drops to half after the fork. Isn't this a huge black swan risk to the BitAssets on the original chain? It would be even worse if the market consensus favored the new chain more.
Are we supposed to split the BitAssets (both holdings and amounts owed by shorts) between the two DACs? Meaning we actually create two new forks (BTSXD and BTSX'). BTSX' would be the continuation of BTSX but with the adjusted BitAssets. The idea is that after the fork, BTSX becomes completely worthless (and all BitAssets on their chain are also worthless), but people effectively "continue" that chain with the BTSX' chain and its adjusted BitAssets. Also, they have the remainder of their BitAssets on the BTSXD chain. BitAsset holders still keep the same value of BitAssets as before, and they can use cross-chain trading to get the BitAssets over to their preferred chain.
The problem is that we need to decide how to split the BitAssets between the DACs depending on how we expect the value of BTSX to be split into BTSX' and BTSXD. This decision needs to be made before the actual fork, but we won't know the true market valuations until after the fork. Thus, we need some mechanism of estimating BTSX holder consensus of how much they think each future DAC is worth. If the estimation is too inaccurate, we risk a black swan event in one of the forked chains (accuracy of estimation needed is of course dependent on the minimum collateral ratio).