Quote from: Rune on October 23, 2014, 12:15:53 am

Quote from: arhag on October 22, 2014, 11:23:40 pm

Quote from: Rune on October 22, 2014, 10:37:18 pm

Every employee of bitshares will be a delegate. That includes BM, Stan, toast, hopefully Brian and anyone else that is paid a salary by us shareholders. They all have a set pay rate for their delegate, and when they first apply to become a delegate, we shareholders vote them in if we think their salary is fair vs their contribution. We will have some common framework for transparency, I imagine it's gonna be something like they have to make a report of their work each week. Kinda like the current bbx hangouts, but for every employee individually and with a lot more detail. Shareholders can then vote for or against the delegates they like, and if someone uncovers any evidence of a delegate not doing their job properly, they can mount a campaign to get them thrown out.

This sort of flat structure seems incredibly inefficient. Hierarchies are useful. In my view we should keep the delegate count at 101 and separate out their roles from all other business supporting the DAC. They should only be trusted to be a decentralized group of vetted individuals (or small organization) capable of running the servers and with their interests aligned with BTS so that they can keep the consensus engine running. When we have a reliable consensus engine, we can then use generic shareholder voting to decide on all other DAC matters. This includes paying the income to the companies/organizations/individuals that will work for the interest of the DAC. These companies can have whatever organization they need to be efficient, but will obviously need to satisfy certain transparency requirements to the shareholders so that the shareholders can decide whether to keep paying them money. The shareholder voting can also be used decide on other important matters of the DAC other than who to pay money. One of the most important decisions is on whether to activate hard fork features (which bytemaster recently described in another thread). But there can be far more agile decisions (no 75% super majority needed) made for lesser issues by the shareholders directly.

Just because every employee is a delegate doesn't mean they cannot have organizational structure. The delegate slate feature allows a team leader to nominate the other delegates on his team, and they can in turn nominate people even further below them. The way I imagine it will end up looking is that we will have these huge nested delegate hierarchies for the different development projects and marketing and other functions. What makes this system so insane is that it has the ability to basically scale infinitely and every new employee will have the ability to organize itself transparently and frictionlessly into the grander hierarchy. As the DAC grows, the speed at which new people are hired will increase exponentially as long as there is an equal influx of active stakeholders who vote actively in whatever little niche they have an interest.

The ability for the system to self organize with no barriers to entry and perfectly aligning economic incentives is going to cause the speed of growth to be completely absurd. It's mind blowing.

And there is nothing to stop a single delegate from being a self-organizing team or small business.
I expect to see many popular personalities get together to form a single, more electable delegate team as competition heats up.

Note:  as market cap grows dilution percentages can fall even as spending increases.... as the system matures fees can cover operating expenses and growth.

I will read through it today .. but from my understanding this would allow something merchants are dreaming of..

sending encrypted invoices to costumers, which they just have to agree by mouse click!

New chain (BTS) that will fork from BTSX and honor PTS, DNS, VOTE, and AGS... simple upgrade and exchanges will simply rename BTSX to BTS. 

Buy BTSX gives you 1:1 stake in BTS.... and you just upgrade your wallet.
Buy PTS gives will give you a slight advantage if you are willing to let your funds vest over 2 years.
Buy DNS gives will give you a similar advantage if you are willing to let your funds vest over 2 years.
BitAssets, Accounts, and User Issued assets are unaffected.

I will only be focusing on BTS and it will incorporate the features of DNS, KeyID, BTSX, VOTE and Ethereum on one chain called BitShares (BTS). 

Play/Music are currently planning their own separate chains that will borrow our technology but still plan to honor PTS/AGS.

*note....whether or not the PTS/DNS price reflects a fair discount is hard to say. 

PTS & DNS will continue as a chains that must find and grow the own community and leaders.