BitShares Forum
Main => General Discussion => Topic started by: bulletproof on August 21, 2015, 03:02:25 am
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Or: How I Learned to Stop Worrying and Love BROWNIE.PTS
As a newcomer and fresh pair of eyes I thought I’d share my [considered thoughts || deluded ramblings] on this topic with the Community:
So, it seems I wouldn’t be alone in a journey of discovery from:
Noob
- broadly equated BTS holdings to some sort of proportional share (heck, they are called ‘shares’!) in the economic value of Bitshares the ‘enterprise’
thru
Informed
- Understand that current fee earnings are tiny and v.concentrated
- sharedrops represent the real value in the short/medium term
- 2.0 will introduce new/better potential earnings opportunites: referrals, workers..
thru
Confused/concerened
- Read Stan’s take on targeted drops, PTS/AGS/.. (compete with BTS?)
- Saw potential share-dropper considering Mumble attendees (ignore BTS??!?!??)
- ..and along come BROWNIES
But hey, this is a community of world changers, with an agile mindset, surely we can be scared by this change stuff. So how do I get with the program and join the Enlightened Ones? How is by recognising that this ain’t a regular economics 1.0 listed corporation where Mr Idle Capital can just rock up with bags of cash and expect to buy entitlement to the fruits of others' hard work. No, this is way better.
My take on the whole what-token(s)-actually-gets-me-invested-in-this-bitshares-thing debate and BROWNIE in particular is this: in the post Evil Bank Inc brave New World many of this community are here to help create, decentralization is just one feature. The gift economy/ability to montetize reputation and alignment of economic reward directly with the real drivers of value - i.e. not simply in proportion to the $$ you happen to have – are at least as important. Seems to me BROWNIE is a pretty close approximation to distilled essence of real value, and all without any relation to the confounded Kapital. At the risk of earning BROWNNOSE.PTS Stan, BM & our other thought leaders are amongst the best I’ve encountered anywhere.
I suspect (and hope) Bitshares will never be a happy place for Joe Idle-capital looking to just park his $$ and wait for the returns to roll in. Sure voice concern that your stake isn’t being represented/contribution recognised, but leave the sense that your investment $$ alone buys entitlement at the door and you'll likely be a lot more :D here.
Just 0.02 <insert token of choice> worth from comrade bulletproof
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Just to put it out there, would it be possible to in the future use Brownie Points as stock options?
By law it is possible to offer stock options to anyone who works for it. So Brownie Points could be used to distribute stock options if we choose to.
So for example if one of us start a real world company, we could simply promise to deliver stock options to whomever holds Brownie Point tokens and who is willing to sign the digital contract which we could email through something like Docusign to all who can verify their possession of at least 1 Brownie Point. Perhaps this could be done in a smart contract which takes email address or mails to their Bitshares alias.
From there you crowd fund the company, then approach VCs, then you have the Bitshares community working for possible stock options when they work for Brownie Points, because if it can happen once, it can happen in the future.
http://www.theoptionsguide.com/stock-option.aspx
https://www.docusign.com/
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Brownie points are given out at the whim of a small core team. So if you want to make them one of the major representations of value around here then I'm afraid you are going from decentralization straight through regular capitalism to crony capitalism. No thanks.
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I see that point of view and at first sight it can of course be read that way. However, surely the key difference is that a crony capitalist doesn't pay cronies from his/her monetized reputation - quite the opposite in fact. BM is putting his reputation on the line with Brownie - if it is perceived that they all go to cronies and not real drivers of value, it devalues the whole concept and will ultimately be self defeating. If no one views them as any sort of accurate reflection of value drivers => utterly worthless.
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Brownie points are given out at the whim of a small core team. So if you want to make them one of the major representations of value around here then I'm afraid you are going from decentralization straight through regular capitalism to crony capitalism. No thanks.
It's was a question about stock options, which is pure regular capitalism tool, so yes, if "small core team" (or another team which trust "small core team") decide to distribute their capitalism stock options then BROWNIE.PTS will be right choice.