Except that you are double, no, quintuple dipping. Owning a BTS was what was to produce a profit and still is for everyone not I3 related. Now I3/Cryptonomex/Larimers/Devs get to profit off the code by selling it and "plug ins" to the highest bidder for extra dough in your pocket plus keeping your BTS. It's a win win for Cryptonomex and a win lose for everyone else.
"No change. Perfectly consistent." What utter bullshit. Go read that original white paper and tell me no change. Was Cryptonomex owning the code base in that or any incarnation of the white paper to date?
It's funny that no one here thinks that Cryptonomex's business model won't hinder adoption and outside development. Good luck with that
@newmine we will never reach consensus so long as you continue to attack a straw man. Lets identify some points of agreement, let me know which statements you disagree with and why:
1. Original BitShares Plan - use proof of work to mine 100% of everything with 0 pre-mine. A $500,000 budget from Angel funding was available to accomplish this plan. I3 had to purchase vast majority of its stake via electrical costs, cloud computing costs, mining hardware costs, or direct purchases. Any stake I3 had came at the expense of the budget for development.
a. Was that plan fair? "Yes"
b. Was that plan sustainable? "No", lacking funds to develop BTS would never materialize and PTS would be worthless.
c. What options would I3 have: a) don't mine or buy more PTS, b) sell any PTS we did acquire and use fund for Plan B and be accused of running a Pump and Dump.
d. Under this plan I3 makes no profit (0 dips)
2. BitShares Plan B.. Angel Shares. Under this plan I3 grew its budget from $500,000 to $2M (after BTC price decline) which allowed BTS to be built and released creating $10M of value for PTS holders and $10M of value for AGS holders.
a. I3 developers received an average paycheck for their time: a fair trade.
b. I3 retained 0 stake in BTS from AGS outside their paycheck.
So far the community gave $2M and received $20M using post-bear market prices... unequal trade favoring community.
So far the developers gave $2M worth of labor and received $2M worth of value.... equal trade, hardly selfish, greedy, or double dipping.
3. Is everything fair at this point? If so then the developers are free to walk away, they did their job the best they could with the budget they had.
a. If you assume the developers had 0 savings at the start, how do you propose they continue from this point forward? How many man-hours of labor do you feel is enough before the developers are free to move on with a clean conscience and the moral high ground? Give us an actual number.
4. Once we know how much labor the DEVS owed the community for their $2M worth of BTC, they can know when they are free to quit without being greedy. Assume the DEVs worked every hour they owed. What options do we have?
a. The devs can quit, but that wouldn't be good for BTS
b. The devs could work part time, and work on BTS as a hobby (but why should they? they have no more debt nor any stake in BTS).
c. The devs could start a new blockchain that they actually own a cut in using the public domain work of BTS. Not good for BTS, but great for Devs.
d. The devs could write all new code and start a new blockchain
e. The devs could allow stakeholders to vote in dilution so that the Devs could continue to work. How many man hours do the Devs owe the network in exchange for the meager 4000 BTS per day per person before they are not considered greedy?
@newmine for all your accusations of the devs being greedy, you seem to have missed that every single developer has received less money than they could have made working elsewhere and simply buying BTS with their surplus income. From this perspective, every single developer has been giving their time to BitShares for free in what amounts to charity work because they are poorer today for having worked on BTS than having worked other jobs.
So... I have just TWO questions for you
@newmine how much labor do we owe you and what dollar value did we receive in exchange for that labor? How much per hour do you get paid at your job?