According to Bitsharesblocks there was 240,000 BTS collected in fees. Is there a reason for the spike?

I vote no. No pun intended.

It's a bad idea as what if the shareholders don't like one of the core devs? They have a right to vote them out.

Hope you feel better man. There is light at the end of the tunnel.

Great video.

Who needs regulation or lawyers? Screw them. Launch, fund and build your business on a DAC.

Quote from: merockstar on December 24, 2014, 07:46:55 pm

Quote from: jwiz168 on December 24, 2014, 12:57:40 am

Quote from: onceuponatime on December 23, 2014, 11:57:29 pm

AGAINST:

Any funds that you use to buy PTS can then NOT be used to buy BTS.

Isn't it that social contract of I3 states that for every DAC being developed using DPOS has at least 10%AGS and 10%PTS? Please correct me if I am not inform with BTS being included.

Upon further reflection, without I3 there is no social consensus anymore, is there? The support of the community while the social consensus existed basically meant backing from I3, but without I3 support the community will naturally support whatever DACs they feel aren't screwing them, I am understanding this correctly, Stan? I read both the newsletter but didn't see the idea of social consensus directly addressed.

I3 took the initiative to help the community evolve its social consensus during the early phases but ultimately it is the community's job to maintain or evolve the consensus over time.  I3 alumni will still be here as free lance contributors, and we will have gradually diverging opinions, but the consensus will be whatever the community can cause developers to perceive is in their best interest to honor.

We have proposed no changes to that consensus and have continued to honor it.  From before the very first Feb 28th snapshot we have supported the concept of honoring the PTS/AGS proto-DAC grandparents through honoring a parent that had honored those grandparents.  So a new developer would be on solid footing doing it either way -- unless the community makes it clear that their consensus has somehow changed.

Meanwhile, we have tried to encourage developers to honor proto-DACs simply because it is in their own self interest. 

Let me ephasize that.
The consensus will be strongest if developers honor it in their own self-interest.

That's what BitShares Sharedrop Theory is all about.  By recognizing that all the coins of the world represent unique demographics they can choose to precision-target their free samples to groups other than the technically gifted.   You can target Mars colonists and permaculture enthusiasts and dog lovers and entire populations of small arctic nations.

But, if you are a smart developer, you will target people who understand and appreciate your coin and are likely to hold them rather than dump them.  Traditional miners are a notoriously bad demographic precisely because they are in business primarily to mine and dump.

BitShares Sharedrop Theory thus revolutionized the whole concept of how to get a safe and fair distribution while eliminating the last remaining (specious) argument for why you still needed mining.

So, regardless of what we many individually prefer, PTS, AGS, and BTS represent fantastic sharedrop targets each for their own demographic reasons.  AGS are proven donors.  BTS are active users.  PTS are HODL die-hards.

It is up to each developer to put together the coalition of demographics they think will make their product succeed.

Stan,
The only problem with PTS is it should be dead! We paid millions to PTS holders to buy them out and now you and others are saying that they are still eligible for sharedrops.

An example of the broken morality of this:
Coca Cola buys out my stock and buys out the company fron me. Now I have received the payment and I no longer control the company as it has been merged into Coca Cola. Now if I came out and started my stock ticker back up and started selling shares it would be considered securities fraud and a breach of contract with Coca Cola.

I find the PTS situation a very unethical turn of events.

Quote from: gamey on December 26, 2014, 06:36:04 am

Does this really seem to be in question to you guys?

Yes. It matters quite a lot. It's about trust. I will stop all of my investments on BTS once I figure out I can't trust the 'official' guys anymore.

Exactly! It is a trust issue. If they cant keep their word on this, then why should I trust them in the future?

It's better to never trust an exchange Buy your coins and withdraw them.