Quote from: Stan on April 03, 2015, 08:47:35 pm

BitShares has a fixed ceiling it will never reach and one-fifth the dilution of Bitcoin - which wastes its dilution instead of reinvesting it.  How does that disqualify one from being a currency and not the other?

Further, BitShares is a profitable company that produces smart-currencies as its products.  Products that are better in every way with none of the drawbacks you mention.  There is no inflation in BitAssets at all (relative to their underlying peg) and the underlying BTS can produce those stable currency products whether is gaining or falling in value.  BTS is not intended to be a currency itself, so a tiny amount of dilution has zero affect on the value proposition of its smart currency products.

Further, regardless of whether developers are paid in "mined" equity or existing equity from the AGS stash or 10% set aside for developers in the genesis block, the selling pressure they generate to pay their rent would be the same anyway.  That modicum of selling pressure is the cost of generating forward thrust.  There was no other source of thrust.  BTSX would have stopped advancing in the state it was in November.  If work had stopped, where would the price be?

BTSX would have stagnated with no further support while BitShares VOTE and DNS would be splitting the benefits of what BitShares is today - self funding of developers and other ecosystem entrepreneurs.  People always seem to forget what the alternatives were when the decisions were made.  The fact is that

The BTSX-only universe you are wishing for was not one of the choices available to us.

The only choices were to merge or commit fratricide - three block chains competing to the death for market depth and network effect (where BTSX was the only one unable to pay developers).  Imagine three different BitUSDs splitting the current market depth.

We are so incredibly much stronger than we were in November I can hardly believe it.  The market will catch up with that fact in due time.  In the meantime, I hope everybody enjoyed the March Madness sale!

Stan - this post should be a sticky. I couldn't agree more and needed this sanity check/reminder of where we are/came from in November.

I have not heard about anything from the conference but that quote was taken right from the website. It says " Peertracks FREE all access music streaming, online or offline" right there in the site. I would just like a little update ya know.

Quote from: Frodo on March 26, 2015, 06:30:56 pm

Quote from: tonyk2 on March 26, 2015, 05:38:05 pm

Quote from: bytemaster on March 26, 2015, 02:37:57 pm

Quote from: Frodo on March 26, 2015, 02:29:30 pm

Dilution is massively overrated by most people. Mostly irrational fear. Let's look at the numbers for a second here:

Current annualized inflation is about 1.451%. At a market cap of 16 million that amounts to ~ $232k worth of BTS each year. That's merely ~ $636 daily. (Assuming that every delegate immediately sells all BTS.)

Now let's take a look at cmc. Currently we have 24h volume of over $40k. And that is on the low side, we often have $100k+. At $40k daily volume about 1.59% of volume could be caused by delegates selling off BTS. At $100k volume just 0.636%.


I hope people stop blaming dilution and the merger for everything that isn't going according to plan.

I see... 'feed them cake' logic....

Anyway at exactly 0 adoption... 800K new BTS coming to existence every day having exactly no new buyers  might be a very small percentage of some number but still remain 800K new BTS every morning ready to be dumped...

PS
I do not get to whom you think you are guys selling this crap, guys. New comers? Sure, all they need is to be fed cooked numbers....

Speaking of cooked numbers, it is more like 120k BTS per day we are talking about, not 800k.

But I guess that doesn't matter to you anyway. Just some stupid numbers, have nothing to say.

TonyK was right about the number .....
120K is just the delegate part ...
the rest is from the unlock balance from the PTS/DNS/VOTE/AGS allocation which was vest in for 2 years in a liner manner .

Quote from: bytemaster on March 26, 2015, 02:37:57 pm

Quote from: Frodo on March 26, 2015, 02:29:30 pm

Dilution is massively overrated by most people. Mostly irrational fear. Let's look at the numbers for a second here:

Current annualized inflation is about 1.451%. At a market cap of 16 million that amounts to ~ $232k worth of BTS each year. That's merely ~ $636 daily. (Assuming that every delegate immediately sells all BTS.)

Now let's take a look at cmc. Currently we have 24h volume of over $40k. And that is on the low side, we often have $100k+. At $40k daily volume about 1.59% of volume could be caused by delegates selling off BTS. At $100k volume just 0.636%.


I hope people stop blaming dilution and the merger for everything that isn't going according to plan.

As far as dilution...it barely registers as dilution and most all of it is going to "pay" people who could make far more if they simply stepped away from the project and chose to another job over

As for the merger...I still think it was a mistake.  There really is no reason I can see why the separate chains could not have competed, built up their own separate dev teams using their delegate slots to build onto the broader ecosystem in a way that lifts all boats. 

Just having 5 DACs that are powered by BitShares in the top 20 on Coinmarketcap would have been huge advertising.  And there would have been nothing (to my knowledge) that would have kept BitSharesX from later on hiring devs to implement DNS and Vote features into its structure just like BitShares currently has done.  In fact, by the time BitSharesX had matured to that level, DNS and Vote would have already done most of the hard work, so implementing the code on other chains would have likely required far less in terms of time, energy and manpower.  Alternatively, the same could be said for Vote, DNS, and a number of other chains.  Just ask BitShares PLAY and PTS...I know for a fact that they saved a good bit of time incorporating the main BitShares chains' work. 

The merger was a case of making a decision without really getting the feedback from the community before doing so.  I had reservations, but held them back at the time because I didn't want to make things worse.  More and more though I find myself realizing that the community keeping relatively silent about these types of decisions has caused more harm than good.  I suspect that if the PR initiative goes the wrong direction, the merger decision will not be our last headache. 

However, even with those hiccups...BitShares and the ecosystem that is growing from it (of course, with a few growing pains) is still a beautiful thing.   

If you can invert the colours I might consider it.. otherwise thats a crap load of blue ink!