i should we want a lockup?
i want them to trade on our exchange. in my opinion it is not a good idea.
we need active user.
I agree Shentist. I'm not a big fan of locking up shares. I mean I can somewhat understand the sentiment to try to artificially create a perception about the market value of an ecosystem, but is it logical? Is everyone considering the unintended consequences? It's like trying to discourage people from acting as they would normally and letting the free market work. Why give favors or brownie pts or anything to weaker holders, non-believers, or people who just need liquidity compared to those newer believers, potentially stronger holders who would have better prices to buy in?
If we are trying to intervene with the free market, we should create a BTS big trader's club that promises to buy & sell 5 million BTS in a month. We should refund all transaction fees. Locking up of BTS creates illiquidity does it not?
Also in the long run, we should probably favor those who use the platform more than those that just do nothing with it...(ex. giving more voting power to BTS holders that use it for transactions/transfers)....then BTS itself eventually might be used as a form of money in the distant future...
Fortunately the plan you're talking about has nothing to do with what we discussed.
Weak holders wouldn't be people who are whales with over 1 million BTS. At some point they believed or they wouldn't have acquired so many BTS.
At the same time if you purchase that many BTS and you're watching BTC go up, or Ethereum, or Storj, or Safecoin, or anything else, even if you don't believe in it at some point you're going to have to dump because the opportunity cost of holding becomes too high.
So the options we have is encourage people to dump so they don't miss the opportunities to invest in better newer or perhaps just rising older technologies, or we will have to promote loyalty. It's your choice.
There aren't any transactions for whales to put 1 million BTS to use. We don't have a bond market so they can't loan it out. The majority of people aren't going to risk trading 1 million BTS on an untested hard to use exchange even if they were professional traders and if they do trade they probably would only trade a small fraction while dumping the rest to put it on Poloniex so they can get interest.
There is no logical reason for someone to hold millions of BTS on Bitshares 2.0 for no interest when they can hold something else which gives them interest, unless they can know for sure other people are going to hold. Basically this is like game theory where if you know everyone else is going to dump you don't want to be that one bag holder who decides not to.
So if you have people locking their coins up then you know there are people like you who still believe, and who can't dump, and now you'll be more likely to lock yours up as well. The people saying Brownies shouldn't be used this way, wait what are Brownies for then? Are Brownies supposed to be treated as BitUSD? Were any of the people saying that around for Protoshares and Angelshares?
Angelshares was basically locked Protoshares. We don't have that anymore but we should and these ideas would basically take us back to that mentality but perhaps better because you'd get a reputation economy. When you mention the free market, a reputation economy is a market, a gift economy is a market, but it's not the kind of market you're used to so you believe it's somehow less than free?
In a gift economy no one is obligated to give anything to anyone. People feel guilty if they don't return the favor because in these societies there is the value of reciprocity. People give to receive, but they don't make any promises, and they don't expect or know how the favor will be returned. So it's not barter where you know exactly what you're trading for, but more like Christmas where you give a gift of some unknown value and receive a gift of some unknown value and hopefully it all balances out.
If you would like to dump and encourage others to dump then go ahead. Ethereum and Bitcoin are waiting. If you'd like to encourage people to hold then without a Bond market, Prediction markets or any of the use cases to make a person actually use Bitshares you're basically asking people to hold a lot of Bitshares and essentially do nothing with them, not even for Brownies but out of charity to the market so that people dumping can get better prices.
I don't think it's wise to punish the most loyal holders with low priced BTS and make them bag holders.