It is clear to us that we cannot change ProtoShares even though we believe it would have been a better deal for everyone but the botnets.
Based upon the feedback you all have provided at our request we will leave ProtoShares and its social contract as-is.
In the mean time we are still looking for ways to crowd fund development of new DACs through a concept similar to Angel Shares.
We welcome any constructive suggestions.
You can't change protoshares to exclude people not willing to pay you (invictus) money. Try to think about this as an opportunity to engage and collaborate. I told you, the solution is to allocate a fixed % of PTS or BTC revenue to educational initiatives that reward people for learning about your products, giveaways you should probably set up some bounties to spark some grassroots media that focuses entirely on DACs. If you're removing the mining incentive from the picture, replace it with things people can do that they are rewarded for but doesn't feel like work. Telling people to market your product and make sure their "friend" uses their code feels exploitative, like you're selling something. Rewarding people for learning is just smart.
I think you've hit the nail on the head.
The greatest aspect of the whole DAC and Protoshares movement is that it creates a wide web of opportunity where anyone has a chance to make a living. This in my opinion should include miners who instead of being told there is no further use for them in the eco-system should instead be repurposed/retrained into different but equally fundamental roles.
Miners should in my opinion be made into viral marketing teams when and if we move to Proof of Stake. They can blog, they can tweet, they have Facebook, they can explain these concepts and bring in new investment. They should be rewarded for bringing in new investors somehow perhaps by a referral based business model so that instead of mining they get benefits, status or something else through referrals. The point is to keep everyone from the smartest developer to the person who speaks several languages to the person who can just write and read.
Anyone who can communicate can contribute to the potential value of PTS. Any miner can speak, refer, and promote. So it's not just about bringing in developers but also about marketing. There should of course be bounties but I think we need a much more formal and decentralized way of divvying the work load. I don't know how to do it yet but if we are going to treat everyone as employees in these DACs then we need to create the infrastructure to actually track the contributions by Keyhotee ID and reward them.
It is clear to us that we cannot change ProtoShares even though we believe it would have been a better deal for everyone but the botnets.
Based upon the feedback you all have provided at our request we will leave ProtoShares and its social contract as-is.
In the mean time we are still looking for ways to crowd fund development of new DACs through a concept similar to Angel Shares.
We welcome any constructive suggestions.
I bought into the PTS idea because the concepts of merged mining, multiple blockchains, blockchain security, DACs and its attraction to little miners. Now if mining is taken away from the picture, the bulk of it seems to be gone.
Would the merged mining idea still be valid after this discussion? Is bitshares going to be a PoW based system as originally designed in your paper or changed to a PoS based system?
In my opinion, the implementation being done as expected should be regarded as one of the social contracts here.
I think Proof of Work can be changed to Proof of Stake. Proof of Stake is probably better overall but I don't think they can make the change mid stream. Protoshares is currently being mined and people are mining it at a loss because they believe it's going to be worth a lot a year from now or six months from now.
The long term value of Protoshares is very important, but the ideas proposed in this thread seem to promote a short term increase in value at great risk to the long term value proposition. Also it may potentially exclude people who were already involved to invite new rich money into it who want to throw millions.
We need to accommodate the people already involved. Find a way to provide jobs for them first. If you don't have money to pay them then credit them so that their work is registered in a blockchain so that when you do have money to pay them (after you get millions of investment from rich investors) you can pay the small people who were willing to work for the project.
Promoting the value of PTS increasing isn't really paying anyone because not everyone is in it for short term profit. Some people wont want to sell their PTS in 2014 no matter what happens because they are long term supporters. I know I won't be selling any PTS at these prices and even if it went as high as 0.1 I would not sell. Mastercoins already are at 0.1+ and I'm not selling until it's a lot higher.
There has to be a way to pay people and then you have to circulate that money back into investment. So I agree with the goal of creating a sustainable eco-system. I don't agree with the timing and I don't think that method can work if it puts PTS at risk. Create a new DAC.
https://bitsharestalk.org/index.php?topic=998.0I proposed the idea of a GetWork DAC for precisely this reason and had the exact same concern. I wanted a DAC to allow people to find jobs to do to develop Protoshares and other DACs and get paid for it or credited for it.