Rune Ander is actually spot on with BM's original proposal for this:

https://bitsharestalk.org/index.php?topic=9452

100 x 50BTS = 5000 BTS


Edit: Mixed up the names

DIdnt know bytemaster proposed that arleady...

Yes, I think this is good.  100x your block pay to propose a high pay delegate should prevent spam.

How about this:

The cost to propose a delegate is 1 day of delegate pay.

Thus, to propose a 100% pay delegate, its around 5000 BTS.

For a 10% pay delegate, its only 500 BTS.  (I think we need to allow these partial pay delegates to be proposed at a reasonable cost.  After all, in the future when BTS is worth a lot more, I think most delegates wont actually be max pay delegates, because max pay will be a TON).

If BTSX grows to 100x is current size, then the amount of dilution needed in order to sustain development/marketing will be negligible - probably well under 1%.  There will also be a lot more shares being burned due to use (transaction fees, trading fees, etc).

At that point, burn rate will probably well exceed dilution.


The dilution is to get us to that point as fast as possible, so that we gain the network effect first, while competitors do not yet exist or are too small. 

Wow, there is some actual buying!  Million share buys!

.084 CNY was the bottom!

Quote from: Stan on November 01, 2014, 01:26:42 pm

Quote from: Riverhead on November 01, 2014, 01:22:04 pm

Excellent news letter as usual. I feel the ecosystem is being rebooted and we all have a chance at some cheap shares while the market figures out what's happening.

... and its payday!

Same here .

Mine was last week and I used it to buy more right before the 30% drop.

Btswildpig is correct.  Hopefully he will be successful explaining this to the chinese community!

So is it your belief that mining determines price? Because the big mining outfits need to pay their bills with half the revenue until price adjusts. Yes, they've been through it before but with each halving it is more centralized and the pain is much worse.

No, mining doesnt determine price.  (Price determines level of investment into mining is a lot more accurate).


If block reward halves, and price DOESNT increase, then tons of miners die off, and mining gets centralized further into the regions of the world that are most energy efficient, and the remaining miners continue on at a reduced difficulty where they can break even again.


The halving could hurt MINERS a lot.   Honestly I dont think that matters much.  Most people who use bitcoin dont mine it.  They buy and spend it, or they invest in it.  The price of bitcoin going up or down helps or hurts is popularity.  Most people dont care if some miners go out of business because they couldnt be profitable.