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Stakeholder Proposals / Re: CryptoDex Delegate Proposal Call for Feedback:
« on: April 18, 2015, 07:11:35 pm »When voted into the delegate pay ranks Cryptodex will immediately use 80% of the funds for feeds and feed frameworks and provide 20% to the Moonstone project to finish their wallet framework.
I don't like this mix. Moonstone is a separate project with its own plan for funding. If you only need 80% for funding your own project, then register an 80% delegate.
Also, I'm always very much hesitant to cover the development of a business platform using delegate pay. After all, once your business becomes profitable you'll take the revenue for yourself. Essentially the DAC is taking over your business risk, and it gets very little in return.
https://bitsharestalk.org/index.php/topic,15694.0.html
Well when I first posted this proposal I was under the impression that Bitshares operated as a company "Distributed Autonomous Corporation" and Bytemaster blogging about how he considered Bitshares a startup made that presumption much stronger. In my mind I was working within that framework to create value on the Bitshares platform. Since then, a new proposal for privatized assets has come up and Bitsaphire has leaned in to voice its opinion that Bitshares is a community not a company... I understand why privatized assets is alluring to the Bitshares stake holders as it is the fastest way to increase trade fees based on platform use.
The main proposal is for indices which requires aggregation from multiple sources, which takes some work and will require constant updates to the feeds to stay current with coin supply parameters and market values, additionally options need to be available for delegates if they do not want to trust just one source for feed information. From the feedback I have gotten so far it seems like delegates do have a problem in keeping feeds up to date and reliable, so this seems like it is a job in and of itself.
But I am posting these as proposals to get feedback like yours so thank you.
In regards to business plans I am skeptical of any near term profitability unless Bitcoin goes through the roof within the next year. As it stands now it looks like Bitcoin will be around $100 sometime in August. I do not see any trends in mass adoption yet of Bitcoin or other cryptocurrencies in the near term either. I think the proposed wallet would be minimally profitable enough to cover cost and is more like a public service so people do not have to be subject to the extremes of speculation. Bitshares happens to provide the best blockchain for this to happen. The wallet is really geared to non speculative users, meanwhile the indices can act as long and short etfs on any third party exchange and I can see those being a high volume traded asset for such companies. Full disclosure I am not involved in any exchanges at this time except for occasional freelance work which is nothing.