181
General Discussion / Re: Proposal to Resolve a Million Issues at Once
« on: October 19, 2014, 04:48:12 am »
My Bitshares X t-shirt will be a collectors item one day !
Allah Akbar !
Show Posts
This section allows you to view all posts made by this member. Note that you can only see posts made in areas you currently have access to.
183
General Discussion / Re: Proposal to Resolve a Million Issues at Once
« on: October 19, 2014, 04:15:01 am »Excellent!I dont like the part with " unlimited dilution" :/
Stakeholder approved dilution... I say this because the "hard rules" will force us into "consensus busting problems" in the future.
I am working on ideas for better control over the voting process for "hard forks"....
This really does show how adaptive bitshares can be! Look at bitcoin unable to adapt. Still mining away, still diluting to pay for "security", etc.
Bitshares is able to change and adapt to the situation at hand. Doing what you mentioned above will greatly help Bitshares maintain a competitive edge.
"...let the strongest live and the weakest die"- Charles Darwin
184
General Discussion / Re: Proposal to Resolve a Million Issues at Once
« on: October 19, 2014, 03:51:17 am »I realize I have some attachment to the concept of PTS/AGS etc. So I am not necessarily rational as I should be in that area.It takes some one with great perspective to admit this
185
General Discussion / Re: Proposal to Resolve a Million Issues at Once
« on: October 19, 2014, 03:19:00 am »
And my confidence is fully restored!
186
General Discussion / Re: Proposal to Resolve a Million Issues at Once
« on: October 19, 2014, 03:14:53 am »
187
General Discussion / Re: VOTE DAC Just Got More Interesting 2.0
« on: October 19, 2014, 02:45:31 am »I was about to say the exact same thingAbove all, they promise to do everything possible to remain competitive.
The idea that the unspecified default behavior of a company is to promise a fixed set of shares for all time is a vestigial holdover from early currency metaphor thinking. This is the red herring that needs to be faced squarely.
If a fixed supply hurts the competitive edge, has BTSX has broken that promise?
Some spin BM's comments as "BTSX cannot inflate, therefore DOA".
Is there any remote truth to this, and if so, what are our options for fixing it?
My point was that the existence of such an unpromised promise is a metaphorical trap that even we almost let ourselves be led into by the oft repeated can't infuse fresh capital assumptions of others. If there was such a fatal promise made for the Feb 28th snapshot or upon release by DAC Sun Limited, would someone help us find it? As far as i remember, the only thing specified was the initial genesis block distribution.
BitShares has always been about breaking the currency metaphor and embracing the company metaphor. Companies aggressively infuse all kinds of value-increasing capital to compete. That includes mergers and acquisitions and additional rounds of venture capital and people working for equity.
Even if there was a promise of no inflation, it would be irrelevant because the authority in a DAC lies with the delegates, and nowhere else. If elected delegates decide to hard fork to inflate, and no majority or significant minority of stakeholders oppose them, then it will happen regardless of any promises made earlier. The purpose of a DAC is to grow in network and in value, and as it is fast becoming apparent that no inflation without a huge bootstrapped network is not competitive, then I don't think it will be difficult to gain a majority for inflation any longer.
188
General Discussion / Re: VOTE DAC Just Got More Interesting 2.0
« on: October 19, 2014, 02:12:37 am »With that said, my question is what would be the best way to move forward? Is it really the best for Bitshares to launch this VOTE proposal, or do we just need to dilute BTSX so that we have financing and can continue to focus on getting this, our main DAC, up and running properly. I remember there were discussions regarding dilution of BTSX recently, but then the issue was theoretical, now we are facing some real-word choices. Right now, with what I know about this new VOTE project (which is not much at all) I would rather dilute, BTSX and fold any of the VOTE special features (if in fact they are special) into BTSX if that is possible.
I lot of confusion has been thrown into BTSX at the moment. All my future investments in the project have been parked until such time that this is resolved.
What I think should be done is an official proposal be created by I3 on what a good marketing plan would look like for BTSX (in great detail) and the stakeholders can vote for delegates who support or don't support dilution based off of what the stakeholders think of it.
I agree this poll really doesn't mean anything in the end. So why not do what I mentioned above and see where stakeholders really stand?
That's how I think we should approach it at least.
"BTSX is similar to a company where the stakeholders have a say". We keep saying that... Let's actually DO IT.
189
General Discussion / Re: VOTE DAC Just Got More Interesting 2.0
« on: October 19, 2014, 12:02:03 am »Bytemaster and co. are extremely confident about the network effect they can gain using dilution as well as the fact they need it for infrastructure and development.Btsx is not being abandoned. This project is designed to fund common infrastructure via dilution. My job is to lead not code. And btsx is dac suns job to maintain upgrade and bug fix.
Btsx is hamstrung with a fixed dev budget that will take time to grow.
1) BTSX hard cap of 2 billion is going to limit its growth potential.7) The biggest reason of all why we are doing this has to do with the fact that we can gather "network effect" faster with the VOTE DAC...
How we do all of that is still slightly under wraps... but trust me it may beat BTSX to the moon.
Now I am someone more in favour of no dilution but there is no advantage to not choosing the general option Bytemaster is for after feedback. So now I'm for dilution.
Why? Put simply Bytemaster doesn't work for us. As he says above he's here to lead not code.
While I'm sure BM will fulfil his obligations to a DAC, he doesn't work for the DAC. So you can either be part of a DAC where the underlying toolkit development etc. is largely lead by Bytemaster but there is no option where he is the one being lead on big decisions imo.
If BM is clear after feedback that dilution is required for the BitAsset network effect. Then...
The only possible Darwinian conclusion:
What does Bytemaster think is the best dilution model for BTSX? and pretty much do that.
Also to follow that formula more in general. To not support the direction of the key talent after feedback especially on big decisions leads to more of these mixed options and uncertainty.
This is the way I see it. BM had this great idea to dilute BTSX in order to market it and help it grow faster. Some people were strongly against that.
So now BM is focusing on something that can be diluted and help itself grow (Voting DAC)
I'm assuming the self-funding for the project will come through dilution of Vote shares? (something that could have been done with BTSX as well if we weren't so foolish to promise a 2 billion BTSX hard cap)^ This pretty much sums it up.
190
General Discussion / Re: Would you support BTSX dilution for marketing?
« on: October 18, 2014, 02:53:46 pm »The community in this forum not necessarily represent the stakeholders of BTSX ..Yes I agree but then why did BM say this?
Not sure of the outcome of this vote has any meaning ..
1) BTSX hard cap of 2 billion is going to limit its growth potential.
Does BM have information that suggests the majority of stakeholders would vote against dilution?
What I think should be done is an official proposal be created by I3 on what a good marketing plan would look like (in great detail) and the stakeholders can vote for delegates who support or don't support dilution based off of what the stakeholders think of it.
I agree this poll really doesn't mean anything in the end. So why not do what I mentioned above and see where stakeholders really stand?
191
General Discussion / Would you support BTSX dilution for marketing?
« on: October 18, 2014, 02:15:02 pm »
I want to see where the community stands
The way the delegated capital infusion would work is as BM said...
Of course the delegated capital infusion would be approved by the people holding BTSX
The community would have a say in how the referral program worked but at the end of the day it would be up to I3.
You can change your vote at anytime.
The way the delegated capital infusion would work is as BM said...
The goal of this idea is that no dilution occurs unless a user signs up and first buys 1000 bit usd.
Of course the delegated capital infusion would be approved by the people holding BTSX
Any decision will be shareholder approved and capped.
The community would have a say in how the referral program worked but at the end of the day it would be up to I3.
You can change your vote at anytime.
192
General Discussion / Re: VOTE DAC Just Got More Interesting 2.0
« on: October 18, 2014, 11:52:56 am »3).I think most of BTSX holder can accept diluting BTSX for developing.Yes that's what I'm saying
At the end of the day it's up to the shareholders so let them decide.
193
General Discussion / Re: VOTE DAC Just Got More Interesting 2.0
« on: October 18, 2014, 10:34:38 am »That will split demand for bitUSD to a couple of bitshares "coins"...Thar. Not an issue .. only differences are the spread in the dacs .. not the value itself ...
bitshares_music bitUSD
bitsharesx_ bitUSD
bitshares_vote bitUSD
etc...
etc...
...
each time a new bitUSD version comes out... the bitUSD will get weaker and weaker... Am I missing something?
Except there is a great plan in place that will provide liquidity/demand to all different bitUSDs.
So people will try to buy bitUSD in the market with smallest spread/highea liquidity. ...
Pretty much the same we have with altcoin PRICES on different exchanges ...
But now be are talking spread/liquidity and not price
So in theory if the Vote DAC gets bigger than btsx the bitUSD on there would be more sought after than on the bitUSD on the btsx exchange because of less spread.
194
General Discussion / Re: VOTE DAC Just Got More Interesting 2.0
« on: October 18, 2014, 10:00:45 am »From this page: http://followmyvote.com/follow-my-vote-joins-cavo/
"We are both extremely excited that legislation now exists in California for county voting registrars to begin using government funds to explore pilot programs for elections that include open source voting solutions."
BTSX funding is limited... Get government funding on board to improve Voting and its technology... oh and look, all the parts of the software are open-source, and they fit perfectly within BTSX, and they improve the current technology... And then suddenly you have government funding to improve BTSX.
Synergy... That's the way I interpret this word from Stan...
No way, I'm not selling any of my BTSX.
I truly hope your interpretation is right.
195
Beyond Bitcoin [closed] / Re: Beyond Bitcoin Hangout 10-17-2014. ETHEREUM COMPETITOR !! WHAT !!!
« on: October 18, 2014, 07:49:10 am »
