We hodl these truths to be self evident...

Hehe.

Will the BTS total supply appear as 2.5 Billion on Nov 5th?

I think that would be preferable. As otherwise our perceived rate of dilution will be a lot higher.

It should, imo.

Coinmarketcap should list 2.5 billion BTS.

Quote

08-01-2016. Everyone who understands that date knows exactly what will happen

Please tell me... what happens on that date?

That is the estimated date when the next bitcoin reward halving will occur.

I dont really see why that is a big deal for us though (other than that it might increase bitcoin prices some, which helps crypto in general).

No new information... just all condensed and explained better than before.

Excellent!  Clarity and reassurance is what we need most right now. 

I thought the maximum annual dilution is 8%? 

The way I calculate it, it is 6.3% right now.

50 bts per block * 6 blocks/min * 60 min/hour * 24 hour/day * 365 day/year = 157,680,000 shares per year.

.15768B / 2.5B = 6.3%



The thing that troubles some investors is that they dont want the code to be changed to increase this amount.  That is, they think "once you allow any dilution at all, you could allow UNLIMITED dilution".

This is the goal of the constitution, to make it very very hard for that to ever occur.

Is the new question:  Should that be periodically lowered to stay below bitcoin as bitcoin is lowered via the block reward halving? 

To which I say, yes.

I also say yes.  I dont think our schedule needs to be the same halving per 4 years though.  A smoother decline would be preferable to a disruption at a certain date.

The code is the constitution.  Nothing more is needed.

I think the constitution is basically a promise to never make the code do certain things that we might not approve of (dilution), without massive community approval.

Its also a marketing document outlining the vision, so that people can understand what bitshares is trying to do.

Having the ability to change the dilution rate with some established process that is deemed "hard but not impossible" is what is needed.

I agree.

I think that modifying a constituiton is "hard but not impossible". 

It should be hard enough that people have confidence that it should probably not happen, except in an extreme emergency where everyone agrees it must happen.

 

Interesting idea. I can see both sides of this discussion.

a) Fixed dilution limits future unknowns.
b) Fixed dilution gives investors peace of mind.

I can't decide.

 

Quote from: Ander on October 31, 2014, 08:28:45 pm

Your link for submitting questions takes you to the thread for last week's show, not today's.

dang..you are right.

Yeah, I went to post a question, and then I realized I was in the wrong thread...and then I realized it had already happened, lol.