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A multipool that pays bitshares would help NXT has one u can also invest in the pool by buying shares on AE I would gladly point my miners to it just a suggestion I think it could help
minebitshares.com !
where is keyhotee going now?
I was wondering the same question...
I have no idea
]
Edit: Troglodactyl, just read your post, I think we agree.
I think what you're saying is only right during the growth phase of the company, while you are still attracting new users. It's sort of like a ponzi scheme; it doesn't work if you don't keep having new people (money) come. Once this is a steady-state ecosystem inflation will simply be draining people's money because the share price is not rising enough to counteract it. I can't help but thinking I'm right because no real company operates on an inflation model. Investors want money from customers, not themselves. They want to maximize profit.
...With that said, I suppose at that steady-state point we don't need many marketers/devs/janitors etc., and we will be able to maintain the network with just transaction fees.
All this is great, but I feel like for shares in a company, inflation (dilution) is only successful as a short term solution. Continuous inflation may be okay for a currency (which is a whole other conversation), but is it sustainable for a company?
I would hope that ultimately everything can be paid for via transaction fees or some other mechanism. That's what VISA and Mastercard do, right? How else do they make money? I wonder what transaction volume this would require.
I actually think this is the opposite.
When the company is small, inflation-pay is the *LEAST* effective. It takes much more inflation to pay a delegate a fair salary. When the company has a very large market cap with high liquidity, a 1% inflation-pay delegate could be earning $1 million per year. We would, of course, need much less than 1% of inflation in that case.
This is why I stress that we use AGS funds to grow our market cap as fast as possible, so we can sustain inflation reasonably and responsibly:
https://bitsharestalk.org/index.php?topic=10845#msg142799
Keep in mind that we only elect delegates that increase the value of the company many times more than the rate at which the dilution devaluing each share. This will only get easier the bigger we are.
Bitshares only works because of its mandatory transparency. You cannot be elected as a delegate without being almost 100% transparent and public about all the work you do. Besides, we only really have one feature that matters, and that is the paid delegates. The only thing we need to worry about is to grow our network before any self-funding competitor comes online. If we can attain significant network effect before then, then it will not possible for a competitor to beat us no matter what, because we will always be able to copy any competetive advantages that they innovate.
3-D food printing has arrived. Just imagine the possibilities when your computer really can cook a meal! BTS collateral required for each pizza printed?
http://www.cnn.com/2014/11/06/tech/innovation/foodini-machine-print-food/index.html?hpt=hp_c3
...
As you might know Stan, your style is, 85% of the time, too pom-pom for my taste...
But that post was GREAT!
PS
On this note, I am moving this thread to the main discussion.
The people behind Rand Paul Coin clearly view an expandable supply with greater suspicion than we do. If Bitshares somehow hyperinflated to the point of total loss of confidence and value, then delegates would have no incentive. User issued assets would then be frozen until they could be migrated to a living chain.I'd rather see an asset than another chain...
That's a fair point. With the strong deflationary priority they might be worried that BTS isn't a sound foundation, but it would be easy enough to fork off if Bitshares ever seemed in danger of hyper-inflationary collapse.
That would save them the overhead of a full new chain and new set of delegates
What does and expansion or contraction of the BTS supply have to do with the supply or price of an asset on the platform?
I'd rather see an asset than another chain...
Hmmmm.....
I can sympathize with alphabar. he has a point in terms of accountability and transparency. I also support his right to question any move that the dev team makes on behalf of this community even if I don't necessarily agree.
That said, I fully support funding our Devs as much as we can to keep their livelihoods intact and reward them commensurate with their skills. I want our devs and delegates to be paid well in excess of anything they could achieve in the corporate world. As I have stated previously... You pay peanuts, you'll get monkeys.
