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General Discussion / Re: Angel Shares Feedback Requested
« on: December 16, 2013, 03:42:09 am »
Yes, at the expense of people who haven't yet gotten into Bitshares. We go from having 90% being distributed via mining which is perceived to be free and available to anyone (because we keep talking about how CPU minable Momentum is) to Invictus selling 50% into the market.
Of course thats a better deal for existing holders of Protoshares, but the deal is already plenty good for them. This will make it seem like the people who are already in are voting themselves a better deal, or being bribed. Either one is a bad outcome, the deal is plenty good already - The focus should be on raising the funds required and maximizing the equitable distribution of Bitshares through non-monetary means.
Thats a fancy way of saying take the part we like about mining (that anybody can do it, in theory, and be rewarded) and do it with something other than mining. I've already proposed educational games that reward with it, contests, sponsoring DAC specific media with it, lots of ways you can spread it around the ecosystem without just selling it. Be a little creative, because going from 90% will be mined to 50% will be sold looks very bad and that's unfortunate because it doesn't have to be.
Of course thats a better deal for existing holders of Protoshares, but the deal is already plenty good for them. This will make it seem like the people who are already in are voting themselves a better deal, or being bribed. Either one is a bad outcome, the deal is plenty good already - The focus should be on raising the funds required and maximizing the equitable distribution of Bitshares through non-monetary means.
Thats a fancy way of saying take the part we like about mining (that anybody can do it, in theory, and be rewarded) and do it with something other than mining. I've already proposed educational games that reward with it, contests, sponsoring DAC specific media with it, lots of ways you can spread it around the ecosystem without just selling it. Be a little creative, because going from 90% will be mined to 50% will be sold looks very bad and that's unfortunate because it doesn't have to be.