We did not promise to leave them idle or to burn them. That would be poor stewardship indeed!
QuoteWe did not promise to leave them idle or to burn them. That would be poor stewardship indeed!
For BTS XT in particular I'm pretty certain you said you would not touch them. I wouldn't mind if you did and I think that we should, I'm just recalling what you said. Trying to find that post now.
Quote from: bytemaster on January 09, 2014, 07:46:27 PM
We will be using the BitShares earned in the Angel Address to fund development of the ecosystem.
Quote from: Stan on January 10, 2014, 02:19:24 AM
The question bytemaster was answering is who gets the BTS for all the as-yet unspent PTS donated for AGS? The answer is they go back into the same kitty to fund infrastructure development and promote the industry. NOT to Invictus.
Try looking at it this way:
The price of PTS at any point in time represents the market's assessment of the potential of the entire BitShares industry.
When a DAC spins off, some of that potential spins off with it and the price of PTS drops by the amount of future potential that is no longer predicted by PTS. Nobody minds though, because they now own shares in both and the sum of the two is greater because the value that moved has gone from potential to actual.
So when donated PTS shares "split" the donated value just moves into different buckets. It is still there to help fund the growth of the industry as the donors intended. To the extent that these spin-offs are successful, the seed money available to maintain and promote them grows too.
And thus each successful spinoff replenishes the supply of funds expended to create it, making those funds available again for the next DAC in the development queue. With luck, the funds will grow exponentially, making the number of DACs we can fund in parallel grow exponentially.
This is what we have promised to do with spinoffs from donated funds. We did not promise to leave them idle or to burn them. That would be poor stewardship indeed!
Try looking at it this way:
The price of PTS at any point in time represents the market's assessment of the potential of the entire BitShares industry.
When a DAC spins off, some of that potential spins off with it and the price of PTS drops by the amount of future potential that is no longer predicted by PTS. Nobody minds though, because they now own shares in both and the sum of the two is greater because the value that moved has gone from potential to actual.
So when donated PTS shares "split" the donated value just moves into different buckets. It is still there to help fund the growth of the industry as the donors intended. To the extent that these spin-offs are successful, the seed money available to maintain and promote them grows too.
And thus each successful spinoff replenishes the supply of funds expended to create it, making those funds available again for the next DAC in the development queue. With luck, the funds will grow exponentially, making the number of DACs we can fund in parallel grow exponentially.
This is what we have promised to do with spinoffs from donated funds. We did not promise to leave them idle or to burn them. That would be poor stewardship indeed!
Im glad that Invictus has a large stake in BTSX. That gives extra motivation for them to finish it.
Im glad that Invictus has a large stake in BTSX. That gives extra motivation for them to finish it.
And for all future DACs also !!! Don't forget that !