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Messages - Rune

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931
General Discussion / Re: Stop arguing percentages and look at the bigger picture.
« on: October 22, 2014, 06:44:29 pm »
Quote from: gamey on October 22, 2014, 06:23:52 pm
Quote from: crypto_prometheus_81 on October 22, 2014, 04:39:22 pm
Quote from: Rune on October 22, 2014, 01:30:20 pm
You act like being an early adopter is a privilege, that you deserve everything you can get your hands on. Let me tell you it is not. It is a gift, maybe the greatest gift anyone has ever received - and it is time that you take on the responsibility that goes along with it.

I think we are seeing "true colors" from a lot of people, out on display for all the community to see. Who can handle the intensity of the reality of what needs to be done? I am most impressed by the ones that haveaccepted this reality, even though it may have meant a temporary personal "loss". My observation is that those who hold most tightly to their "expectations", are the ones who cry the loudest when they find out the world does not revolve around them.

I'm getting sick of Rune's thinly hidden cheerleading.  The account is not even a month old and this person is condescending to people who have been around far longer, done far more, and bought into something completely different.

He is telling us same cheerleading we heard before he was even around.

It was not an honor or a privilege to have been early investors.  We did this by making the correct decisions.  Make those correct decisions required labor and intelligence.  We worked for it.  You probably came around after seeing BTSX on coinmarketcap.  So save your bullshit for others.

As for everything else it seems fairly close to a done deal.  I'm not happy, but mainly it is over the cultural shift.  It is likely required and likely a good thing.  I just don't understand what exactly these "mergers" mean or what exactly they imply and it is a source of my irritation. The value equation is very complicated and depends on a lot of small factors which have been vague and scattered about.

In the end I'd ask people to start being nicer.  I'm sure Dan never really wanted it to turn out like this, and it really is as much a proactive move as reactive I believe.  Yesterday I had a lot little jabs and snide posts.  It is hard not to be that way.  For me this pivot makes it harder to be a rah-rah fanboy as my vision isn't as much aligned with this single DAC centric one.  I'd imagine it is like being a sports fan (whatever thats like) and seeing your whole team just die on the field.  Ok.. not really.. I'm kidding.. Seriously though I will try to be more positive.  We'll see where she goes as I can't see any other project as worthy of my time.  :|

I'm a cheerleader, yes. Not for Dan though, my allegiance lies with blockchain technology and nowhere else. The superDAC happens to be the optimal incarnation of blockchain tech, and Dan is the harbinger that will made it manifest into this world. This is the real beginning of what Satoshi started, and how de we celebrate this event? With forum drama. I just can't help but find it embarrassing.

932
General Discussion / Re: new bts have a big bug,BM is the big bug
« on: October 22, 2014, 06:22:04 pm »
Insulting BM personally is absolutely unacceptable. It is unacceptable and makes your opinion and concerns completely invalid.

933
General Discussion / Re: new bts have a big bug,BM is the big bug
« on: October 22, 2014, 05:37:39 pm »
Quote from: bytemaster on October 22, 2014, 03:47:51 pm
I confess... I am a bug.  I have many buggy ideas, and imperfectly implement my vision...

*PLEASE* help me fix this bug... anyone...

The way to fix this bug is to work on BTS and make it the greatest DAC the world has ever seen. People are mad they lost money, but this damage is short term. The payoff they will get from it will make them more than whole. They will come to understand in the long run

934
General Discussion / Re: Proposal for a more fair allocation than Bytemaster's proposal
« on: October 22, 2014, 05:22:03 pm »
While this might be a more fair allocation, the markets have already adjusted to BMs proposal. If the proposal was changed you cannot be sure that the compensation would even go to those who initally lost.

935
General Discussion / Re: Stop arguing percentages and look at the bigger picture.
« on: October 22, 2014, 01:58:56 pm »
Quote from: pc on October 22, 2014, 01:55:54 pm
Quote from: Rune on October 22, 2014, 01:30:20 pm
A couple of years from now, you will have wealth that is completely unfathomable to you now.

That's exactly the kind of argument I've seen for every other shitcoin out there. You're not doing anyone a favour by dragging BTSX down to that level.

Listen, it's not an argument. I'm fully aware that it's backed up by nothing. It meant only for True Believers, who already believe these things. I would never try to convince someone who didn't already "get" bitshares that "it make u millonare hurr durr".

936
General Discussion / Re: Will 3rd Party DACs honor PTS/AGS in the future?
« on: October 22, 2014, 01:50:03 pm »
https://bitsharestalk.org/index.php?topic=10344.0

Everyone who is whining read this, and stop. It's embarrassing.

BM built DPOS, BTSX, the concept of DACs, market pegged assets. He's a genius and you're lucky enough to be an early adopter of his product. STOP COMPLAINING.

937
General Discussion / Re: Now is the perfect time to implement sweeping transparency measures.
« on: October 22, 2014, 01:34:22 pm »
Quote from: matt608 on October 22, 2014, 12:57:47 pm
Ok, well as long there is a plan for such an event.  If it can be solved by an emergency hard fork then great.  Even so I've not heard much about such a plan being put in place yet.

That's because no one took the initiative yet. Consider this the initiative.



Also, just to reiterate. I'm not arguing that these changes should be implemented ASAP, or before any particular date. It will take time to adjust, and there will undoubtedly be bumps along the way. But it is absolutely CRUCIAL that we have these things fully implemented before we begin the marketing push, and what I am hoping to get is a commitment from I3 of getting this implemented before it begins.

Using any resources on marketing before we implemented our greatest strength and force multiplier, transparency, would be a waste.

938
General Discussion / Stop arguing percentages and look at the bigger picture.
« on: October 22, 2014, 01:30:20 pm »
I'm tired of seeing all the squealing and moaning about percentage this and percentage that, and the petty infighting of people who complain they didn't get enough of the pie, arguing that they should get more of some other guys piece.

Look at the bigger picture. Look at what we are making.

A couple of years from now, you will have wealth that is completely unfathomable to you now. It will not make any difference if your current stake is cut in half, or cut into tenths - you will have more money than you could ever possibly spend.

You act like being an early adopter is a privilege, that you deserve everything you can get your hands on. Let me tell you it is not. It is a gift, maybe the greatest gift anyone has ever received - and it is time that you take on the responsibility that goes along with it.

The last thing BM and the team need to worry about right now are people moaning on the forums. There are space ships to build, and until they're built and safely in interstellar space there is no time to spend on ANYTHING else.

You got in at the ground. Now help build the ground floor. And then the top floor. And then the biggest freaking crypto-rocket the world has ever seen.

If you want to take on your responsibility as a stakeholder, then go read the thread about transparency measures (https://bitsharestalk.org/index.php?topic=10301.0) and help envision how YOU, as a stakeholder, can help govern this ship.

939
General Discussion / Re: Now is the perfect time to implement sweeping transparency measures.
« on: October 22, 2014, 12:48:08 pm »
The easiest and best way to prevent bitassset losses from a flash crash, would be to have a publicly stated bail-out policy. I the event that a bitAsset becomes decollateralized, we will hard fork to increase the share supply in order to make sure there is collateral for everything. This will massively increase bitAsset holder confidence, and will prevent them from beginning to withdraw their bitassets if the price is tanking, thus reducing the likelihood of a decollateralization from happening. We will be incentivized to keep our promise since if we do the bailout according to our stated policy, we will have completely averted the loss of confidence the decollateralization would otherwise have caused, and our reputation as a safe store of value would be unblemished going into the future.

We could also just have an emergency fund set aside, but that is bad for two reasons. First of all we don't know how much will be needed in the event of the emergency, and secondly it is irrational to have an external trusted entity holding the money for us when we can simply hold it ourselves and vote to put it to inflate it into existence when we deem it necessary. Having an external emergency fund, or an external DAC-owned fund of any kind is categorically bad, it just creates a single point of failure that is completely unnecessary.

940
General Discussion / Re: Now is the perfect time to implement sweeping transparency measures.
« on: October 22, 2014, 04:19:59 am »
Quote from: crypto_prometheus_81 on October 22, 2014, 04:18:32 am
I'm in favor of most of the op.....in time.
However, the part about "insiders forum" probably wouldn't work ? Even if you arbitrarily picked the 100 top addresses or even 1000 top addresses, at a certain point whales could strategically split their stake into multiple addresses and end up taking like 25 spots at the bottom of the list.
Not to mention that anything that appears in print on an internet forum is bound to get leaked (even accidentally), quickly and easily.

To get access, you simply have to sign a message with more than 0.1% of the entire stake. There would be no limit on how many can join, but they can only get in if they are able to produce the signed message.

941
General Discussion / Re: Now is the perfect time to implement sweeping transparency measures.
« on: October 22, 2014, 04:18:15 am »
Quote from: Mysto on October 22, 2014, 04:16:03 am
Quote from: Rune on October 22, 2014, 03:42:31 am
Quote from: Mysto on October 22, 2014, 03:38:23 am
Quote from: Rune on October 22, 2014, 03:30:36 am
Quote from: Mysto on October 22, 2014, 03:28:49 am
Quote from: Rune on October 22, 2014, 03:08:55 am
I propose that they are all used to buy up BTSX, and then burned.
Why? I can think of a million ways these funds can be used. Since BTS is going to have DCI I don't see how this will be of any use to the shareholders.

Burning them means distributing them equally to all shareholders. Once funds are needed for something new in the future, they are simply diluted into existance by elected delegates. There is no reason to take the risk of having an external entity holding the funds for us.
I think keeping them as an "emergency fund" would be wiser. The rate of dilution at the beginning might not be fast enough to be very helpful if something drastic were to happen. At the very least they should be used to make bitUSD stronger.

Who gets to decide what constitutes an emergency? We should rather have a way to rapidly implement hard forks to inflate the amount we need in case of an emergency. It will be impossible to know how much or how little is needed for an emergency any way.

That contradicts what you said over here...

Quote from: Rune on October 22, 2014, 03:08:55 am
The only exceptions should be the funds set aside for the marketing push, and the funds that will be used to make the bitUSD buywall.

First you say "let shareholder decide" then you make 2 exception. It's either you are for shareholders deciding everything in which case it is all burned. Or you let I3 decide what to do with the fund. And at this early stage I would make the argument that letting I3 decide is better at least with AGS funds.

Well the marketing push is the specific singular marketing push that will come alongside the announcement of the on and off ramps for bitUSD. I assume that the AGS fund is in fact much larger since it was meant to last many years. Anything that is not going to be used in the short term should be burned.

942
General Discussion / Re: Now is the perfect time to implement sweeping transparency measures.
« on: October 22, 2014, 04:17:21 am »
Quote from: MeTHoDx on October 22, 2014, 04:13:54 am
Quote from: Rune on October 22, 2014, 03:59:39 am
Quote from: jsidhu on October 22, 2014, 03:57:41 am
Quote from: Rune on October 22, 2014, 03:55:32 am
Quote from: jsidhu on October 22, 2014, 03:53:11 am
Would the AGS fund still not be needed for marketing? I mean there is no DAC for that is there that would be funded via capital infusion?

A large portion can be used to shore up the pegs and then use that as incentive to draw in business.. like really the only thing businesses would ask initially is.. how do I know I can get my money out when I need it.

It just makes much sense that stakeholders will get to decide on how this is used. It shouldn't be up to any individual to decide how these funds are used, but only stakeholders by electing delegates that dilute them back and then use them exactly the way that stakeholders consider to be optimal.
Delegates don't control the BTC, USD that the AGS funds have provided right so we would need to figure out as a team how to allocate this because the funding of future technologies wont be an issue anymore.

All the money should be spent on buying BTSX, and the BTSX should then be burned. Distributing them equally to shareholders is the fairest way to allocate them. Like I said, they can then vote to allocate them in the future through dilution in exactly the way they consider to be most profitable.

I like this. However, we should give the Invictus some time to breath. They're human and anyone who is a part of this community knows they're probably pretty stressed out right now. The most I would expect right now is for them to acknowledge this plan and set out to do it in a few months. They are human.

Yeah, of course. Only they can judge the amount of effort it will require to go into it, and do it as they see most effective. I just want to make sure it is fully done before the marketing push, because it will make the marketing push so much more effective. If it has to wait, then I think the marketing push should wait as well, since IMO we should be in our "final form" once we push out to the world.

943
General Discussion / Re: Now is the perfect time to implement sweeping transparency measures.
« on: October 22, 2014, 04:07:25 am »
Quote from: jsidhu on October 22, 2014, 04:04:42 am
I agree.. but still I don't know if marketing funds would qualify as capital infusion would it? I thought it was for DACs that were going to be merged into BTS needing funding?

Funding will be for literally ANYTHING that stakeholders decide is profitable. If it makes us more money than it costs, we will do it. Development, marketing, charity, artwork, concerts whatever. If you can prove it will be profitable for the DAC to fund it, the DAC will fund it.

944
General Discussion / Re: Now is the perfect time to implement sweeping transparency measures.
« on: October 22, 2014, 03:59:39 am »
Quote from: jsidhu on October 22, 2014, 03:57:41 am
Quote from: Rune on October 22, 2014, 03:55:32 am
Quote from: jsidhu on October 22, 2014, 03:53:11 am
Would the AGS fund still not be needed for marketing? I mean there is no DAC for that is there that would be funded via capital infusion?

A large portion can be used to shore up the pegs and then use that as incentive to draw in business.. like really the only thing businesses would ask initially is.. how do I know I can get my money out when I need it.

It just makes much sense that stakeholders will get to decide on how this is used. It shouldn't be up to any individual to decide how these funds are used, but only stakeholders by electing delegates that dilute them back and then use them exactly the way that stakeholders consider to be optimal.
Delegates don't control the BTC, USD that the AGS funds have provided right so we would need to figure out as a team how to allocate this because the funding of future technologies wont be an issue anymore.

All the money should be spent on buying BTSX, and the BTSX should then be burned. Distributing them equally to shareholders is the fairest way to allocate them. Like I said, they can then vote to allocate them in the future through dilution in exactly the way they consider to be most profitable.

945
General Discussion / Re: Now is the perfect time to implement sweeping transparency measures.
« on: October 22, 2014, 03:55:32 am »
Quote from: jsidhu on October 22, 2014, 03:53:11 am
Would the AGS fund still not be needed for marketing? I mean there is no DAC for that is there that would be funded via capital infusion?

A large portion can be used to shore up the pegs and then use that as incentive to draw in business.. like really the only thing businesses would ask initially is.. how do I know I can get my money out when I need it.

It just makes much more sense that stakeholders will get to decide on how this is used. It shouldn't be up to any individual to decide how these funds are used, but only stakeholders by electing delegates that dilute them back and then use them exactly the way that stakeholders consider to be optimal.

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