3) Capital infusion to fund marketing efforts is solved by allowing for a majority vote of BTS holders to vote to create and sell shares for funding purposes, which would then be used to grow Bitshares much faster than it could otherwise have developed (hopefully).
If the community believes that the secondary offering of new shares is in its interest, it would vote in favor. If the community believes that the dilution is not worth the benefits, they will vote against it.
Does this suggest we will expect a pump and dump within BTS
X at each new DAC!?.. I don't mind the idea of snapshoting against BTS but diluting it as a method to support new DACs, surely will detract from other DACs.
Surely a new DAC should stand relative to the idea of what it is, rather than the inclination of a few insiders who want to prefer one new DAC rather than any other. I would rather see what we have atm, that new DACs can fail and others can go large.. Lotto as one example that seems to have faltered. On that note then, surely the market is a statement of the real interest in a DAC and is better then that just the inclination of core individuals. 101 delegates is perhaps too centralised for some decentralised advocates; what is proposed looks to risk the creation of real politiking about what comes next.
Is this proposal of dilution only for core DACs and if so what of third party DACs, do they use ye olde method of snapshot and IPO??
With dilution now it seems there are three issues proposed!..
- A. [PTS -> BTSX]
- B. [drawing all DACs dev together]
- C. [dilution of BTSX to support new DACs]
A. is needed for the extreme cost of PoW.
B. will be useful in the short term and perhaps then longer term having a core base spawning what is new.
C. looks like weakness and lack of confidence in what new DACs the market beyond BTS can support.
I'd rather see BTS
X benefiting from assets and other DACs value held seperate as DNS|Vote|Note etc; I've no issue with those being assets on the BTS blockchain. The arguement perhaps for being within a larger pool of liquidity is that those will be less vunerable to then inevitable early pump and dump but I'm not sure that p&d is such a big issue, if a DAC is a good idea and BTS support is strong then I would default to being confident the market will resolve to a good sense of value relative to the value of the DAC. How else will the value of individual DACs be known, if everything is BTS?