Bytemaster is calculating the remaining fuel burn rate right now.
I'm guessing at the current burn rate we have six months max to quadruple the market cap.
If we do, we will have reached escape velocity, and all will be swell.

And if not, we need to elect multiple paid delegates per developer? 

Thats not the worst failure case.  Its way better than the previous failure case where the funds run out and bitshares dies!

There has been talk of a new difficulty algorithm called, "Gravity well" that may help BTC survive the 08/16 halving. However given BTC's lethargic pace to implement change this may not happen.

For the diff to drop they need to find blocks. If the big mining powers lose half their revenue on 8/16 and go dark it could be years before anyone else finds a block and the diff can adjust. It doesn't mean BTC is dead; just that supply is fixed until they figure something out. Nevertheless some will jump ship.

This seems kindof ridiculous to me.

Bitcoin will go through the halvening and literally nothing will happen.  Bit coin will be fine.

Its already happened before.


The problems with bitcoin are NOT that its reward is going to get halved in 2016.   In fact, bitcoin becomes a LOT more attractive at that point, with inflation down to 4%.  Proof of Work isnt nearly as much of a drag at only 4%.

You make some excellent points, but for various reasons you're encountering resistance in this community to using canonizer.com. For me personally I dislike the trans-humanist involvement

I find this pretty humorous, for me I disliked the mormon involvement! 

"Mormon transhumanist association" seem like a very tiny intersection on a Venn Diagram.

I must say, new threads are so much harder to find up in this sticky area!  We are trained to not look here.

This is great!
The way you presented the 'community' idea at the beginning was very well done.  (My reaction to it was far more favorable than Bytemaster's original post)

A couple comments:

1)

BitShares is able to use its DPOS technology to do exactly that!  It will also offer up to 50 BTS per block to incentivize 101 employees (delegates) to secure the network PLUS do something useful to grow stakeholder value.  Since its DPOS security mechanism is so efficient, almost all of the BTS issued will go toward software, marketing, and infrastructure.  Stakeholders must approve new issuances by explicitly approving any new-hires that they are convinced will add more value than they consume.  They may choose to issue zero new shares; and, there is a hard-coded limit of 8% annually.

By my math, the actual maximum cap is 6.3072%

50 BTS per block * 6 blocks/min * 60 mins/hr * 24 hour/day * 365 day/year = 157,680,000 BTS per year.
.15768 billion / 2.5 billion = .063072

Round to 6.3%


Is my math wrong, or is the 8% number wrong?  Could you guys be getting 8% by dividing by 2 billion instead of 2.5 billion?




2)

Well, Bitcoin has for years issued 50 new bitcoin “shares” every block to incentivize its mining “employees” to do the work required to secure its network.

Bitcoin reward blocks changed from 50 BTC to 25 per block in 2012.
(Maybe that is an irrelevant detail and 50 is fine to say).


3) Should the letter mention that this 6.3% dilution rate only occurs if we elect the maximum of 101 fully paid delegates, and in reality, we expect dilution to be lower than that?
Should we mention that shares burned to transaction fees, and shares burned as fees later on when using the DNS and VOTE services will also reduce the dilution rate?

I was under the impression that the 500M extra shares will be added gradually over the 2-year vesting period. There would be no sudden jump like Ripple's.

They will slowly become available over 2 years.

I just think coinmarketcap should display the new total up front.

Quote from: kisa on October 31, 2014, 11:04:42 pm

The merged DAC will have earnings streams from multiple businesses it supports.

This is definitely how it should be presented.

Yes! 

Right now it seems that many BTSX investors feel that they got diluted by 20% with teh sharedrop/merger, but are getting NOTHING for it.

They need to be shown what they purchased, and how it will result in BTS making more money in the long run.



For example: 

Once DNS and VOTE features are implemented in the future, they will generate profits in the form of BTS shares burned!  This will eventually counteract the dilution by reducing overall share count, once these features get rolling and pick up steam.

(Even if you didn't, wouldn't you want inclusive language written into your constitution, being as we are in the 21st century?)

Yes, we do!