Yes, I hate that too.
But remember when we first started talking about the benefits of the self-funding model?
Many BTSX holders did not want to consider dilution,
even when it was really Net Value Infusion.
So to achieve the merger, we had to consider their concerns too.
We wanted to avoid great discontinuities in share count.
We needed to let the new shares come in gradually to avoid market transients.
We set a max limit of 50 BTS per block for all purposes.
Remember Bitcoin's 50 BTC per block?
Then we could point out to everyone the similar precedent for Bitcoin
And how much better it is
for BitShares to buy value while Bitcoin burns value.
PTS and DNS were on track to add value to the industry over the coming years.
So the shares that represent that value must phase in over a similar period.
Value infusion rate must exceed share release rate
so share value will grow for everyone
It is such a balancing challenge.
So many factors needed to be considered.
We try to make everyone equally unhappy.
And everyone very rich.