bitCNY is a scamcoin now, be aware that you're participating in a fractional reserve asset based market

Sounds about right, I don't see a reversal of the downtrend in sight as long as the platform is corrupted by cn-vote (and their cabal). I like many are jumping ship.

Bitshares telegram channel is dead imo, corrupt cn-vote associates implemented severe censorship which destroyed the integrity of the chat. Sad to see China export its pathetic censorship overseas.

Status: Accepted

BS. Zero effort to involve community, fake rubber stamp much?

Smart coins are the original assets of the system, and the corresponding holders should enjoy the dividend of system growth.

They were, now they're confirmed SCAM coins. There's also no such system growth to justify such a dividend, rather there has been a severe economic contraction due to recent failures by cn-vote and friends.

The purpose of this proposal is to establish a scientific financial model of BTS, make reasonable use of the commission income of the committee, open up resources and reduce expenditure, and promote the stable growth of BTS system value.

This is not a "scientific financial model" but rather simply bribery of scam token holders.

This further does nothing to 'reduce expenditure' nor 'promote stable growth', if anything this BTS will be dumped further degrading the value of BTS. Major fail.

Participating assets: bitCNY, bitUSD, bitEUR, bitRUBLE

Why include USD & CNY? They're confirmed scam coins.

1)Participating accounts should register at the beginning of each cycle.Account does not participate in reward if not registered. The registration method can be to transfer any small number of bitassets to the specified account.

Why not just include all asset holders over the minimum value rather than require bribing a centralized account for payout? Sounds like targeting a subset of asset holders to corrupt distribution.

2)The reward needs to be collected actively. If the reward is not collected within the time limit, this part of the reward will not be accumulated.The collection method can be to transfer any small number of bitasset to the specified account.

This is not functionality that exists in BTS, just send the assets to the asset holder rather than invent absurd rules like this. You do know it's possible to programmatically send funds without degrading the platform as you propose?

3)Set the upper limit of daily reward yield, such as 5 ‰. The purpose is to prevent the situation that the total amount of bitasset participating in the lock up award is too small and the yield is too high. Prevent waste of money.

Users will split their assets over multiple accounts to evade this, this rule is dead on arrival.

5)There is a reward for recommending new registered account to participate in lock in the reward plan. If the number of locked in bitassets in the account reaches a certain amount (e.g. 100000 bitcny, other bitassets are calculated based on the exchange rate year-on-year), it can be applied as a promotion account. If the new account recommended for registration by the account participates in the locked in of smart assets, the account can obtain corresponding rewards.

What is the reward per account? Who do users register with? A centralized entity or the network? This just seems like an open door to further cheat the system, real amateur stuff.

The dividend shall be destroyed at the same time as it is distributed in each reward cycle.

Why? Is this returning the tokens to the reserves from the committee account or sending the tokens to the null-account? These assets are already doing nothing in the committee account, so their destruction will yield zero benefit to the value of BTS, serious failure in understanding crypto economics here guys.

      If baip6 passes, it will be carried out at the same time. After the consumption of the Council's stock funds, 30% of the Council's monthly income is used for destruction, 30% is used for warehouse locking and reward distribution, 30% is used for mining with hanging orders, and 10% is used for Council reservation. The parameters are adjusted in the same proportion.
     If baip6 fails, the proposal will be implemented separately. After the consumption of the Council's stock funds, 30% of the Council's monthly income is used for destruction, 60% is used for lock in rewards, and 10% is used for the Council's reservation. The parameters are adjusted in the same proportion.

Who is the council? The committee? Use the correct terminology.

What is warehouse locking? Do you mean destroying BTS? Make up your mind with regards to what terminology you're using.

What on earth are 'hanging orders' and at whose discretion will this fund be used to manipulate the market?

You mention mining, but THERE'S NO MINING IN BITSHARES, what is this for? I can't believe how out of touch cn-vote is with regards to this platform, it's unreal.

Why does this council require 10% reserve funds? Personal corrupt funds?

much less risky than bitusd & bitcny, which are irrefutably proven scams due to almost a year of faking price feeds to bail out bad gamblers in china, pathetic.

more bitasset scams being forced through? sad.

Reject.

bitAssets include bitCNY， bitUSD

Why include known scam coins in this? Reject.