I think the fear that some have is round 2 of the big bulk inflation.
If there's a Round 2 of that, then BitShares is dead. Period. Every ounce of promotion we are doing, and much more, would be lost.
I think the whole point of those changes was to position BitShares well so that it will be strong for many years to come.
Agreed .
Dilution is only mean to fund the operation and grow the eco-system , if there comes to a point that the current rate of dilution can't sustain the operation , then we're not actually growing , are we ?
If our business grows 10 times , then yes , more dilution maybe acceptable in the future . You can add 10X dilution and people might gladly accept it .
But if the business stays the same or even shrinking , then additional dilution won't do much good either . Everybody's pay will be diluted as well to the point that no dilution amount can revive the business .
I remembered at the old days , the poor people can't afford to eat regular meal , they make rice porridge for the
whole family , and as the rice became rare , they added more water to make the porridge to a point that it's not even a porridge but water with rice .
Unless those additional dilution is paid in a postpone period , just like the stock options in real companies .
If we're gonna argue that our system is "self-funding" , then we have to increase the value , so the dilution can have meaning . Otherwise , it's just like putting more water in a rice porridge . If there comes to a point that we need additional dilution to maintain a shrinking business , then just like what people in the regular company would do : Cut costs , reform business model , make extra income , lobby for outside funding .
Nike can't afford the labor in the US anymore , so they moved to China . Now they can't afford the labor in China too , they moved to Vietnam . Imagine instead of doing that , Nike borrow more debts or even issue more liquid shares just to pay for the high price labor effort that's not enough to grow the business ?
In this Bitcoin recession , there are still companies making profit and getting new funding . That's because they have a sound and profitable business model . Dilute more just to keep it going isn't business .
I greatly admire the DAC concept . I hope as the inventor of this concept , BM can relate BTS as if it's a real company . Then you might have a better view . Try to forget "community" or "software" or a "dream" or "future vision" for a second , think about if this is your company and you're the CEO , what would you do ?
Dilution is not the final answer for everything .