Show Posts
76
General Discussion / Re: The idea of to establish a BTS big shareholders’ club
« on: November 17, 2015, 01:39:33 am »If cheap bts price makes further development of the project difficult, we can ask for another round of donations in exchange for brownies.Donations from who? If the biggest losers are the longest holders who are you going to get future donations from? The dumpers aren't going to donate.People that after 2 years are still here donating, despite all this pain, deserve brownies more than a whale who decides to lock 10 out of her 20M bts (he wouldn't sell those 10M in any case, he will "only" dump the remaining 10M he has, but now he can earn some free brownies too! 10M bts x 50.000 brownies equals 500.000 brownies! isn't that great? what will be the next project that this whale will dump his "free" brownies-sharedrop? identabit? )
While I'm a person who was here for the full 2 years, I still think because a whale has more of an impact on the network by their holding, they should get more reward because ultimately they are taking more risk TODAY. People who held since the beginning took a lot of risk over a long period of time but the risk wasn't the same opportunity cost as it is for the whale today.
There was no Ethereum back then, there was no competition from anything but NXT back then, but now the competition is fast rising, and the ecosystem is different. These opportunity costs have to be factored in and I think you're missing the opportunity costs that a whale is taking that a small holder isn't taking.
A person who holds 10,000 BTS isn't taking the same risks in terms of opportunity cost as the person who holds 10 million BTS. 10 million BTS is worth a lot more money than 10,000 and 10 million BTS may be a person's entire life savings while 10,000 BTS is a lot for a lot of people, but it's not the same. Brownies by the way should be slow release and capped at 50,000 so 500,000 isn't possible.
People in the 10,000 BTS range might be more willing to trade all 10,000 BTS in the hope of increasing it. They have opportunities within BTS itself to make a profit off 10,000 BTS. A person with 10 million BTS can't do a lot right now and most people aren't going to risk their entire life savings gambling in the high risk opportunities currently offered.Giving candies to a "criminal" may stop him from doing "criminal" activities but this doesn't mean that he deserves the candies, it's just a bribery. I don't know how many TRUE "criminals" you will find that are willing to be "good guys" in exchange for candies.I'm not sure where you are going with this. Why should we be using terms like "criminal" and "good guys" and "bad guys" as if this is a black and white space? We only have math to work with and a person willing to lock up a significant portion of BTS no matter who they are, is doing a favor for BTS, and is showing faith in BTS.
It might be that some of the BTS holders who do this held BTS and never sold any for the full 2 years. It might be that they acquired the BTS by accident when some whale dumped recently. It doesn't really make a difference as long as they are willing to lock up their BTS.
If you view a gift as a bribe then Protoshares could have been the bribe used to create Angelshares and ultimately Bitshares X. If you view gifts as bribes then all sharedrops could also be bribes. Anything which is a gift could be viewed as a bribe if you take on that glass half empty perspective, but if you take on the glass half full perspective then it's just loyalty credits. https://en.wikipedia.org/wiki/Loyalty_program
Companies use loyalty credits all the time on employees and on customers. Bitshares is currently using similar sorts of credits with Brownie points which basically are a kind of loyalty point, but without the promise of any reward. We might have people willing to buy them because they trust Dan will reward them or sharedrop on them but it's very possible that Dan can change his mind and there is nothing legal they could do about it.
That is why I haven't bought any, and that is why I don't treat Brownies like a currency or like some kind of stock. It's a gift token, and anyone can offer a gift token and redeem them or not, it's at their discretion. So you can't call it a bribe unless there is a promise involved. These tokens are speech and the Supreme Court of the USA has made a decision.
If in the other hand we care about those people that still HODL and we feel we need to reward them, then we should randomly(once per month? random date) check for accounts(in the future and in the past if this is possible) that keep accumulating bts and reward them.
That is fine too but you're not offering enough of a detailed plan on how we would go about doing that. Also I think because there is a limited about of Brownies I don't see how what you're doing could be done with Brownies which is why I think we should focus on the whales first, as a test case to see if a reputation economy can be built with the people taking the most financial risk and accepting the most opportunity cost.
Opportunity cost, I'll put the definition here so people can understand my arguments.Quotehttps://en.wikipedia.org/wiki/Opportunity_cost
In microeconomic theory, the opportunity cost of a choice is the value of the best alternative foregone, where a choice needs to be made between several mutually exclusive alternatives given limited resources. Assuming the best choice is made, it is the "cost" incurred by not enjoying the benefit that would be had by taking the second best choice available.[1]QuoteDEFINITION OF 'OPPORTUNITY COST'http://www.investopedia.com/terms/o/opportunitycost.asp
1. The cost of an alternative that must be forgone in order to pursue a certain action. Put another way, the benefits you could have received by taking an alternative action.
2. The difference in return between a chosen investment and one that is necessarily passed up. Say you invest in a stock and it returns a paltry 2% over the year. In placing your money in the stock, you gave up the opportunity of another investment - say, a risk-free government bond yielding 6%. In this situation, your opportunity costs are 4% (6% - 2%).
Brownies offset the opportunity cost and are therefore fair. If you think it's fair for commercial entities to offer frequent flier miles, then it's the same exact concept going on here. People who are loyal to the Bitshares network, who are whales, will get more credits, just as people who fly more will get more points, or people who shop more. Over time you could expand on this to include people who test out new features of the network receive Brownies, but the point is at this time we need to test it out on whales because currently whales don't have any better way to contribute to the benefit of Bitshares.
am i the only one who learns a ton of shit when he reads luckybits posts x.x
