Is the revenue really burned or is it put to the reserve pool?
If I have understood this right, it should go to reserve pool, where it stays until it is used to pay for workers and witnesses. This means that DAC is saving money to make sure that it can pay for workers in the future.
BTS Is not money, BTS is stake. So putting it into the reserve pool as BTS is in my opinion both inefficient and also quite fatuous.
Instead it should be put into the reserve pool as BitUSD or some other basket of assets and commodities. It's effective for Bitshares to have in it's reserve pool Trade.BTC, Trade.Ether, and stakes in it's competition, as long as it can be guaranteed legally that upon a vote these stakes can be put to use.
It would allow the reserve pool to grow off of something other than BTS which isn't a currency, and also diversify it's holdings which is smarter from a business risk perspective. It's not really that smart for a company to exclusively hold stock in itself as a reserve because if they have to sell it then it dilutes it's own company.
Microsoft purchased Apple stock. Rivals purchase each others stock and it's smart because it spreads the risk. Bitshares allows all of this so why not use the power?
I agree that the network will have to invest in itself. I don't know if worker proposals are implemented in any wallet yet. The blockchain supports it, so you can manually write your own proposal transactions. However, I don't know how much support wallets have for voting for workers. Feature parity was targeted first, now the new features (like workers) will probably be exposed in a controlled manner.
Of course but be smart about it and invest in the competition. Buying your own shares like that is just a share buy back, its not like BTS is money. Investing in your own company is called a buyback.
It's smarter to diversify and invest in other DACs. Bitshares in theory should be able to hold BTC, Ether, Storj, or whatever else, as long as you set up the mechanisms to do it, and by doing it that way you can turn Bitshares 2.0 into an investment bank and exchange rather than just an exchange which makes a profit and then buys its shares back only to sell them later.
Recycling your own shares creates unnecessary volatility when you can use other networks shares. If Bitshares owned shares in other things, in other assets, then even if the BTS isn't gaining in value, if the Storjcoin or Safecoins are gaining in value then the reserve has more buying power for future investments in Bitshares. It would seem Bitshares is the only DAC capable of stuff like this which would mean first mover advantage.
I vote that we put forth a worker proposal to allow Bitshares to hold any digital asset in it's reserve. The reserve shouldn't just hold BitUSD, it should be able to hold Bitcoin or anything else. A group of people should be elected to manage the fund, and determine which assets to buy, and we could vote these people in, but they can only buy and not spend. Or we can just have a vote on what to buy and let the network automatically buy according to the percentage of votes it gets.