BitShares Forum

Other => Graveyard => DevShares => Topic started by: ripplexiaoshan on December 20, 2014, 04:36:08 am

Title: How to increase the value of Devshares
Post by: ripplexiaoshan on December 20, 2014, 04:36:08 am
We know Devshares is born to be used as testing network of BTS, therefore it has great value. However, valuable things don't necessarily have price. You don't need to hold large stake of devshares to use the devshares client, not to mention that BTS will have all the functions of Devshares. 

The consequence is that no one would like to hold much devshares. Gradually, the income of delegates or testers will be fewer and fewer, the whole system will not be sustainable.

We have to think about how to give DVS some real value. In other words, how to convince people to hold DVS, instead of selling all of them?  To make DVS sustainable, testing DVS should be profitable, instead of voluntary, if DVS was designed to be open to the whole community. 

Any thoughts?   
Title: Re: How to increase the value of Devshares
Post by: fluxer555 on December 20, 2014, 04:49:58 am
I agree with this, but I'm not sure how this could be accomplished...

Title: Re: How to increase the value of Devshares
Post by: fluxer555 on December 20, 2014, 05:17:49 am
Actually... This might be a little controversial, but what about this:

DevShareholders get dividends in BTS per DVS block, redeemable by cross-chain transaction signing.

This would inflate BTS more. It would basically be BTS paying DevShareholders to keep the network alive. We already have the first blockchain to hire an individual, but how about a blockchain hiring a blockchain?

The rate of inflation-pay could be determined by shareholder vote, weighted by stake. The maximum could be 50 BTS per DVS block (100% payrate). Examples of how this weighting would work:

10% of BTS stake votes for DVS holders to get 25 BTS per block (50%)
10% of BTS stake votes for DVS holders to get 30 BTS per block (60%)
80% do not vote, or vote for 0 BTS per block (0%)

RESULT: The average of all voting stake is 5.5 BTS per block (11%)

This equals 1425600 BTS per month, distributed to all DVS holders. I'm not sure what the supply of DVS is, but assuming a 2 billion supply, this means 0.0007128 BTS in dividends per DVS per month. This isn't much, but it would give breadth to DevShares' value, and thus their utility as collateral for bitAssets.

The above figures are just examples, and the the community may be totally off in terms of what the market will manifest.

Keep in mind: even though this inflates BTS, since all BTS holders have DevShares, the distribution would not change very much for anyone who has the same stake as they did on the 14th.
Title: Re: How to increase the value of Devshares
Post by: bytemaster on December 20, 2014, 06:03:29 am
A delegate could use all of their pay to buy dev shares.   Easy. 
Title: Re: How to increase the value of Devshares
Post by: ebit on December 20, 2014, 06:12:58 am
 :D
Title: Re: How to increase the value of Devshares
Post by: fluxer555 on December 20, 2014, 04:47:53 pm
A delegate could use all of their pay to buy dev shares.   Easy. 

That wouldn't be very much... but if we do go that route, it would be even better if the delegate used all their pay to purchase DVS, AND they burned all the DVS after purchasing. This would be a direct transfer of value into DVS, rather than a zero-sum operation. If the delegate does not burn the DVS, then the 'dump potential' grows and grows the more they buy.
Title: Re: How to increase the value of Devshares
Post by: matt608 on December 20, 2014, 05:30:05 pm
A delegate could use all of their pay to buy dev shares.   Easy.

If BTS subsidises the test chain it should be 100% BTS sharedrop, not paying even more to PTS+AGS from BTS.
Title: Re: How to increase the value of Devshares
Post by: btswildpig on December 21, 2014, 03:46:01 pm
A delegate could use all of their pay to buy dev shares.   Easy.

say what ?

Set up a BTS delegate to use their pay buy devshares ? Am I mistaken ?


Title: Re: How to increase the value of Devshares
Post by: Ander on December 21, 2014, 04:09:33 pm
I think right now people just really need to support the BTS price by buying BTS, rather than continuing to take all of the value in BTS, and throw it at every other thing in the bitshares ecosystem.
Title: Re: How to increase the value of Devshares
Post by: davidpbrown on December 21, 2014, 04:26:00 pm
I think right now people just really need to support the BTS price by buying BTS, rather than continuing to take all of the value in BTS, and throw it at every other thing in the bitshares ecosystem.

Unless I'm mistaken, any delegate not claiming 100% is burning the difference. So, I don't see it's controversial to put that difference for certain delegates into DVS.

I wonder if all the BTS not claimed by a delegate could automatically be thrown at DVS.. expecting that must make sense relative to the balance of transactions and the fees miners accept. That would then keep DVS floating at a point relative to BTS and the delegate average payrate. Given that most delegates are only getting 3%, that should be quite a lift to the value of DVS. That would give an incentive to those of us hosting devshares clients.. but perhaps that would be too much?.. Perhaps then 20% of what is not claimed by BTS delegates??
Title: Re: How to increase the value of Devshares
Post by: iHashFury on December 21, 2014, 04:27:53 pm
I think right now people just really need to support the BTS price by buying BTS, rather than continuing to take all of the value in BTS, and throw it at every other thing in the bitshares ecosystem.

 +5%
Title: Re: How to increase the value of Devshares
Post by: Ander on December 21, 2014, 04:33:27 pm
I think right now people just really need to support the BTS price by buying BTS, rather than continuing to take all of the value in BTS, and throw it at every other thing in the bitshares ecosystem.

Unless I'm mistaken, any delegate not claiming 100% is burning the difference. So, I don't see it's controversial to put that difference for certain delegates into DVS.

I wonder if all the BTS not claimed by a delegate could automatically be thrown at DVS.. expecting that must make sense relative to the balance of transactions and the fees miners accept. That would then keep DVS floating at a point relative to BTS and the delegate average payrate. Given that most delegates are only getting 3%, that should be quite a lift to the value of DVS. That would give an incentive to those of us hosting devshares clients.. but perhaps that would be too much?.. Perhaps then 20% of what is not claimed by BTS delegates??

Basically you are saying that we should inflate BTS more, sell the BTS on the market, resulting in thousnads of BTS per day, per delegate that does this of extra selling pressure, in order to prop up the price of devshares.

To which I respond: HELL FUCKING NO, if we ever want our flagship product BTS to break out of this downtrend, we need to be buying it, not dumping more of it on the market to suppress the price.


It seems that Bitshares supporters are just really really good at coming up with every possible way to hurt the price of BTS.  Its almost like we all want it to fail.
Title: Re: How to increase the value of Devshares
Post by: graffenwalder on December 21, 2014, 04:36:45 pm
I think right now people just really need to support the BTS price by buying BTS, rather than continuing to take all of the value in BTS, and throw it at every other thing in the bitshares ecosystem.

Unless I'm mistaken, any delegate not claiming 100% is burning the difference. So, I don't see it's controversial to put that difference for certain delegates into DVS.

I wonder if all the BTS not claimed by a delegate could automatically be thrown at DVS.. expecting that must make sense relative to the balance of transactions and the fees miners accept. That would then keep DVS floating at a point relative to BTS and the delegate average payrate. Given that most delegates are only getting 3%, that should be quite a lift to the value of DVS. That would give an incentive to those of us hosting devshares clients.. but perhaps that would be too much?.. Perhaps then 20% of what is not claimed by BTS delegates??

Basically you are saying that we should inflate BTS more, sell the BTS on the market, resulting in thousnads of BTS per day, per delegate that does this of extra selling pressure, in order to prop up the price of devshares.

To which I respond: HELL FUCKING NO, if we ever want our flagship product BTS to break out of this downtrend, we need to be buying it, not dumping more of it on the market to suppress the price.


It seems that Bitshares supporters are just really really good at coming up with every possible way to hurt the price of BTS.  Its almost like you want it to fail.
+5%
Also this would probably result in DVS getting a higher marketcap than BTS, which is nuts
Title: Re: How to increase the value of Devshares
Post by: matt608 on December 21, 2014, 04:52:23 pm
BTS used to by DVS the BTS has to be sold, taking value from BTS.  There's no way a BTS delegate should pay 66% of their pay to AGS + PTS, which is how DVS is distributed.  If it was a testing chain just for BTS alone with 100% BTS sharedrop that would be fine, and is another reason the sharedrop should have been just on BTS.  BTS is the only coin that can fund it and it's BTS developers who are working on it.  PTS + AGS have nothing to do with it.  Unless devs now have no allegiance to BTS but to the toolkit? (while profitable) 

It's 'dev choice' and devs have lots of PTS + AGS so they can drop 66% themselves if they want.  The provided reason for the 66% giveaway was to get the support of AGS + PTS, except they (almost) have no market cap so they're worth much less as supporters.  No 100% BTS holder would vote in a delegate to subsidies AGS + PTS (i.e. DVS).  It's just a big mistake to drop on them when great lengths have been taken to streamline the BTS message, I mean, who are they working for?  BTS or not? 

People think its no big deal because it will be worthless but I'm not so sure.  I've seen countless 'worthless' coins become very valuable, e.g. litecoin.  Crypto is very unpredictable.  We shouldn't underestimate random speculation on DevShares.  There's no need to vote in any subsidy.  If they dropped on just BTS we could organise something as a backup measure if necessary.

Don't want to stir the pot for the sake of it, just expressing my honest opinion as a community member.
Title: Re: How to increase the value of Devshares
Post by: davidpbrown on December 21, 2014, 05:47:37 pm
Also this would probably result in DVS getting a higher marketcap than BTS, which is nuts

Maybe I am confused but I cannot see how that could happen even if you draw on all the fees that delegates got and put them to DVS, the fees are the less part of the value in BTS by orders of magnitude. Certainly it seems there's a lot of value in being delegate but tansfer to DVS could be set at a fraction much lower than 20% too. If you're going to give any DVS value, then you're taking it from BTS one way or another.. it's in the same ecosystem. I don't mind, just a thought. As for comparison with other altcoins.. it should stand like Devcoin DVC and be near zero.. if we want to stress test certain market functions, then that can be coordinated or fudged in some way to provide whatever real value is needed.
Title: Re: How to increase the value of Devshares
Post by: bytemaster on December 21, 2014, 05:51:39 pm
FYI i do not think DVs needs artificial support. 
Title: Re: How to increase the value of Devshares
Post by: toast on December 21, 2014, 05:55:16 pm
Let's NOT try to drive the price of DVS up! Calling it "devshares" doesn't mean it's supposed to be paying for devs!

This whole thread is driving me nuts and is taking the wrong perspective. Next you'll be angry about some injustice about some DVS transfer. I seriously want to put a master key all the devs know with the ability to print 1 trillion more shares for people to understand how DVS should be treated.
Title: Re: How to increase the value of Devshares
Post by: davidpbrown on December 21, 2014, 06:04:45 pm
Perhaps then do reset to BTS snapshots every couple of upgrades.. or some period that the chain doesn't get too large. Surely it just needs to be like DVC is to BTC.. 0.00000006 BTS.
Title: Re: How to increase the value of Devshares
Post by: davidpbrown on December 21, 2014, 06:18:30 pm
Last thoughts on this..

One rather odd option following from the suggestion there is no morality on devshares, would be to give it value and invite attacks.
The other obvious point is that any market that has perceived stability, risks becoming valued.
Title: Re: How to increase the value of Devshares
Post by: matt608 on December 21, 2014, 06:29:31 pm
Let's NOT try to drive the price of DVS up! Calling it "devshares" doesn't mean it's supposed to be paying for devs!

This whole thread is driving me nuts and is taking the wrong perspective. Next you'll be angry about some injustice about some DVS transfer. I seriously want to put a master key all the devs know with the ability to print 1 trillion more shares for people to understand how DVS should be treated.

lol, I'm not actually angry, just doing back of the napkin calculations leading me to find enough $ is at stake by the sharedrop allocation to fund my brief 'squabbling' campaign :p  If DVS went to 10million market cap (unlikely) a holder with 1million BTS (0.04% of BTS, then divided by 3 for DVS)would get about $1300, or $4000 if it was 100% BTS sharedrop.  I'm guessing there will be a DVS bubble/pump at some point which could result in 10million market cap for a short period, if it only made it to $5million that's still $2k per million BTS with 100% sharedrop.  BM estimated somewhere it might be worth around 7million, which which case for anyone with over a million BTS few $kusd is at stake from the sharedrop allocation.

I accept I could be thinking about it wrong way and it might not ever be worth that much, or that if it was BTS would be doing very well too so it wouldn't matter.
Title: Re: How to increase the value of Devshares
Post by: Stan on December 21, 2014, 06:33:32 pm
BTS used to by DVS the BTS has to be sold, taking value from BTS.  There's no way a BTS delegate should pay 66% of their pay to AGS + PTS, which is how DVS is distributed.  If it was a testing chain just for BTS alone with 100% BTS sharedrop that would be fine, and is another reason the sharedrop should have been just on BTS.  BTS is the only coin that can fund it and it's BTS developers who are working on it.  PTS + AGS have nothing to do with it.  Unless devs now have no allegiance to BTS but to the toolkit? (while profitable) 

It's 'dev choice' and devs have lots of PTS + AGS so they can drop 66% themselves if they want.  The provided reason for the 66% giveaway was to get the support of AGS + PTS, except they (almost) have no market cap so they're worth much less as supporters.  No 100% BTS holder would vote in a delegate to subsidies AGS + PTS (i.e. DVS).  It's just a big mistake to drop on them when great lengths have been taken to streamline the BTS message, I mean, who are they working for?  BTS or not? 

People think its no big deal because it will be worthless but I'm not so sure.  I've seen countless 'worthless' coins become very valuable, e.g. litecoin.  Crypto is very unpredictable.  We shouldn't underestimate random speculation on DevShares.  There's no need to vote in any subsidy.  If they dropped on just BTS we could organise something as a backup measure if necessary.

Don't want to stir the pot for the sake of it, just expressing my honest opinion as a community member.


Your statement that devs can drop 66% on themselves if they want is misleading in the extreme.  Perhaps your implication would be true if they target some other coin (like Ripple) that has a very limited distribution which they own disproportionately.  But we all know the heritage of AGS, PTS, and BTS and it is pretty hard to make the case that the decentralized free-lance team of developers working on DevShares have any kind of a significant individual ownership percentage or bias among the three mailing lists.  Of course, if they did, everyone else had the same chance as to adjust their ownership ratios over the course of time too.

But such arguments miss the whole point.  I'd like to see you repeat your analysis from the point of view of what motivated/motivates members of all three target demographics.  What makes each valuable?

According to your theory, the market cap of a demographic determines its value.  But the AGS demographic has zero market cap, yet it represents a mailing list of those known to make no-strings-attached donations to a crypto-currency cause.  Priceless, if you are counting on a similar kind of support for your new asset.

Likewise, PTS holders represent a pure demographic of those willing to hold a simple currency for no other reason than a desire to own and support new products.  They obviously must recognize the value of DAC ownership,  understand share drops and do not insist on mining as a distribution method.  Yet every asset they hold was mined into existence, for those who think that matters.  For some demographics and developers this characteristic is... Priceless.

BTS is the most active demographic, but people hold BTS for many reasons, the least of which may be sharedrop targeting.  Yet they are most likely to be actively using a robust set of new features.  They represent a great demographic of active, informed users, if that is important to a developer's bootstrap strategy.

So the decision is the developer's and depends solely on the developers' assessment of the relative value of these groups to her support-building strategy.  It is clear to me why all three demographics are equally important to DevShares.

You will be much more likely to influence a developers' allocation if you argue why a particular demographic is more valuable and, more importantly, why giving it a higher percentage will increase the support of its members.  You also have to consider the possibility that any bias away from equal distribution will be perceived negatively by the group(s) you don't favor. 

Sometimes, its just not worth that risk.   :)

Title: Re: How to increase the value of Devshares
Post by: matt608 on December 21, 2014, 07:16:26 pm
OK, so PTS + AGS have particularly useful people to strongly incentivise who are technical and maybe ideologically aligned making the drop about more than fulfilling the social contract (and what seemed like 'over-fulfilling' it in my mind).  Point taken. 

66% being dropped on the just devs was a bit of an exaggeration, I don't know the distribution I just presume PTS+AGS are less evenly distributed with more larger founder stakes than BTS which has much higher trading volume.

Market cap has value as a sharedrop distribution factor because it could be used to pay a delegate to work on DVS or as BM suggested to buy DVS.

Keeping PTS + AGS alive makes explaining BitShares more complicated, that's a reason not to drop on them.  When you get to the part about explaining about the occasional sharedrops you have to then explain PTS + AGS.  Admittedly this isn't a major part of BTS due its massive feature set, but still, it confuses an already very complex message and will inevitably cause some BTS buyers to give up.  Also better to nip it in the bud or the distribution squabbling will happen every time.

All else I can say is BTS drop does incentive PTS + AGS due to the BTS drops on those chains, so PTS + AGS are being over-incentivized, and pure BTS holders under-incentivized.  If a truly even drop on all 3 groups was desired then it would be more like 20/20/60 or 15/15/70.

I'll leave it at that as I'm starting to repeat myself.

Title: Re: How to increase the value of Devshares
Post by: islandking on December 21, 2014, 07:29:01 pm
Keeping PTS + AGS alive makes explaining BitShares more complicated, that's a reason not to drop on them.  When you get to the part about explaining about the occasional sharedrops you have to then explain PTS + AGS.  Admittedly this isn't a major part of BTS due its massive feature set, but still, it confuses an already very complex message and will inevitably cause some BTS buyers to give up.  Better to nip it in the bud or the squabbling will happen every time.

All else I can say is BTS drop does incentive PTS + AGS due to the BTS drops on those chains, so PTS + AGS are being over-incentivized, and pure BTS holders under-incentivized.  If a truly even drop on all 3 groups was desired then it would be more like 20/20/60 or 15/15/70.

 +5% I agree.
Title: Re: How to increase the value of Devshares
Post by: bitfayre on December 21, 2014, 07:30:28 pm
Someone's misunderstanding the title of the blog post "the value of DevShares."  The value of DevShares is entirely in the increased stability of BitShares, that we don't have so many problems upgrading.  If you assign a monetary value to DevShares, then people won't want to take risks testing on it, defeating the entire purpose of creating DevShares.  You'd have to create DevShares^2 as a test network to protect the price of DevShares...
Title: Re: How to increase the value of Devshares
Post by: zerosum on December 21, 2014, 10:34:42 pm
Your statement that devs can drop 66% on themselves if they want is misleading in the extreme.  Perhaps your implication would be true if they target some other coin (like Ripple) that has a very limited distribution which they own disproportionately.  But we all know the heritage of AGS, PTS, and BTS and it is pretty hard to make the case that the decentralized free-lance team of developers working on DevShares have any kind of a significant individual ownership percentage or bias among the three mailing lists.  Of course, if they did, everyone else had the same chance as to adjust their ownership ratios over the course of time too.

But such arguments miss the whole point.  I'd like to see you repeat your analysis from the point of view of what motivated/motivates members of all three target demographics.  What makes each valuable?

According to your theory, the market cap of a demographic determines its value.  But the AGS demographic has zero market cap, yet it represents a mailing list of those known to make no-strings-attached donations to a crypto-currency cause.  Priceless, if you are counting on a similar kind of support for your new asset.

Likewise, PTS holders represent a pure demographic of those willing to hold a simple currency for no other reason than a desire to own and support new products.  They obviously must recognize the value of DAC ownership,  understand share drops and do not insist on mining as a distribution method.  Yet every asset they hold was mined into existence, for those who think that matters.  For some demographics and developers this characteristic is... Priceless.

BTS is the most active demographic, but people hold BTS for many reasons, the least of which may be sharedrop targeting.  Yet they are most likely to be actively using a robust set of new features.  They represent a great demographic of active, informed users, if that is important to a developer's bootstrap strategy.

So the decision is the developer's and depends solely on the developers' assessment of the relative value of these groups to her support-building strategy.  It is clear to me why all three demographics are equally important to DevShares.

You will be much more likely to influence a developers' allocation if you argue why a particular demographic is more valuable and, more importantly, why giving it a higher percentage will increase the support of its members.  You also have to consider the possibility that any bias away from equal distribution will be perceived negatively by the group(s) you don't favor. 

Sometimes, its just not worth that risk.   :)


Great post... as usual. If you need something explained or even spun for you, you should ask Stan!

My favorite part is the free-Lance team, but that is another story...
Title: Re: How to increase the value of Devshares
Post by: theoretical on December 22, 2014, 01:45:21 am
A delegate could use all of their pay to buy dev shares.   Easy.

This gets +5% from me, provided the delegate burns the DVS from a published DVS address allowing anyone to audit that output / input (DVS destroyed / BTS issued) is close to the market DVS / BTS exchange rate.

This is similar to my original proposal for DevShares which had DVS backed by inflationary BTS.  But my proposal divided the BTS among all DVS holders, while bytemaster would only issue it (indirectly via sale) to those trying to get out of DVS.  So his proposal gets much more mileage (in terms of DVS valuation boost) for a given amount of BTS dilution :)

Of course there is no free lunch and bytemaster's approach sacrifices liquidity (if people are getting out of DVS faster than the delegate can dilute new BTS, the DVS / BTS exchange rate will move, whereas having inflationary BTS reserved for all DVS holders would keep it stable.)
Title: Re: How to increase the value of Devshares
Post by: toast on December 22, 2014, 03:57:46 am
I will actively fight against a delegate buying DVS to burn them, or inflating BTS to drop on DVS. No no no
Title: Re: How to increase the value of Devshares
Post by: davidpbrown on December 22, 2014, 08:57:27 am
I will actively fight against a delegate buying DVS to burn them, or inflating BTS to drop on DVS. No no no

Perhaps the easiest solution is that each new Devshares wallet gets a million DVS for free. That allows those without BTS to play too and avoids any controversy about value. As above, consensus on value cannot be controlled, unless there is inherently no value..
Title: Re: How to increase the value of Devshares
Post by: bytemaster on December 22, 2014, 02:38:59 pm
I will actively fight against a delegate buying DVS to burn them, or inflating BTS to drop on DVS. No no no

Perhaps the easiest solution is that each new Devshares wallet gets a million DVS for free. That allows those without BTS to play too and avoids any controversy about value. As above, consensus on value cannot be controlled, unless there is inherently no value..

Sybil attack + we want it to have non-0 value.   We don't have to artificially support it to give it non-0 value.
Title: Re: How to increase the value of Devshares
Post by: islandking on December 22, 2014, 03:07:11 pm
Dev shares need to have NO value at all. Otherwise people will just hoard them and not test on the platform because they have/may have "value". Nobody will test the network if they have a chance of losing the shares through experimentation .
Title: Re: How to increase the value of Devshares
Post by: bytemaster on December 22, 2014, 03:13:57 pm
Dev shares need to have NO value at all. Otherwise people will just hoard them and not test on the platform because they have/may have "value". Nobody will test the network if they have a chance of losing the shares through experimentation .

You cannot test BitAssets with 0 value.    People need to USE the network because it has value and the USE of the network will be the testing.

Just like we find bugs with BitShares today when people USE it... despite it working with our wallets.
Title: Re: How to increase the value of Devshares
Post by: clayop on December 22, 2014, 03:16:07 pm
Dev shares need to have NO value at all. Otherwise people will just hoard them and not test on the platform because they have/may have "value". Nobody will test the network if they have a chance of losing the shares through experimentation .

I think Devshares should have value for "economic" experiments
Title: Re: How to increase the value of Devshares
Post by: theoretical on December 22, 2014, 04:58:57 pm
I will actively fight against a delegate buying DVS to burn them, or inflating BTS to drop on DVS. No no no

Could you explain your reasoning for this?
Title: Re: How to increase the value of Devshares
Post by: toast on December 22, 2014, 05:09:57 pm
I will actively fight against a delegate buying DVS to burn them, or inflating BTS to drop on DVS. No no no

Could you explain your reasoning for this?

Can we elect a delegate to buy and burn my personal testnet shares?
Have you read the devshares announcement / mission / directives? https://bytemaster.github.io/update/2014/12/19/The-Value-of-DevShares/
Title: Re: How to increase the value of Devshares
Post by: sumantso on December 23, 2014, 01:22:26 pm
I was listening to the last Mumble chat where BM talks about Devshares and I feel its going to suck value out of Bitshares. Which would have been fine except that Devshares decided to allocate 67% to AGS/PTS when we suffered loss in value when buying them off.

I am baffled now as to why BTS paid for them if they continue to get sharedropped on.
Title: Re: How to increase the value of Devshares
Post by: santaclause102 on December 23, 2014, 09:41:39 pm
I was listening to the last Mumble chat where BM talks about Devshares and I feel its going to suck value out of Bitshares. Which would have been fine except that Devshares decided to allocate 67% to AGS/PTS when we suffered loss in value when buying them off.

I am baffled now as to why BTS paid for them if they continue to get sharedropped on.
how does it suck value out of bts? I'd say it adds lots of value since there is a test network for bts.
Title: Re: How to increase the value of Devshares
Post by: theoretical on December 23, 2014, 10:04:55 pm
Have you read the devshares announcement / mission / directives? https://bytemaster.github.io/update/2014/12/19/The-Value-of-DevShares/

Yes.  From the announcement:

Quote from: bytemaster
we really do need and want DevShares to have some real value because only through having real value will a distributed user base actively test it; especially the market features. You cannot test BitAssets throughly unless the collateral has value.

Buying and burning DVS ensures that DVS will have non-zero value, because those seeking to get out of DVS will be able to find a buyer (assuming the delegate sells BTS for DVS using a no-reserve auction).

Can we elect a delegate to buy and burn my personal testnet shares?

Yes, provided you have a convincing reason that doing so is a good value proposition for BTS holders.

bytemaster's post outlines some reasons BTS holders want DVS to have value.
Title: Re: How to increase the value of Devshares
Post by: arhag on December 23, 2014, 10:27:05 pm
Quote from: bytemaster
we really do need and want DevShares to have some real value because only through having real value will a distributed user base actively test it; especially the market features. You cannot test BitAssets throughly unless the collateral has value.

Buying and burning DVS ensures that DVS will have non-zero value, because those seeking to get out of DVS will be able to find a buyer (assuming the delegate sells BTS for DVS using a no-reserve auction).

Yeah, it needs to have non-zero value, but that doesn't mean it has to have large value like so many people seem to be afraid of. If DVS has a decent amount of value by itself, then we don't need to spend any BTS funds supporting its value. If it would be worthless by itself, then some amount of support is necessary, but just enough to get us the desired properties we want for proper testing. Either way we have strong controls over how valuable DVS will be (with the exception of the unlikely but non-zero possibility that the chaos of the crowd latches onto DVS in a meme-like fashion and it gains a stronger network effect than BTS, but that risk is so incredibly small that it can be effectively ignored).

By the way, instead of just buying and burning DVS, we could use lotteries (rewarded in BTS or BitUSD) to give DVS value. Every month a snapshot could be taken and a winner chosen (where 1 DVS = 1 lottery ticket). The monthly lottery reward can be set to the lowest amount that gives us the desired DVS value. We can also be more efficient in how we spend the subsidy. We could give more weight to DVS in a short position for example to encourage people to short if there is not enough short testing naturally occurring. We could distinguish between regular DVS just sitting in a balance for a month (which would get the base lottery weight) and DVS that has been used in an advanced transaction that we are trying to test (multisig, escrow, etc.) at least once in the month (which would get a larger lottery weight).
Title: Re: How to increase the value of Devshares
Post by: script on December 28, 2014, 11:40:44 pm
has the devshares share drop happened yet?

if not this could be a great marketing tool , think about it , when did most people get (understand)bitcoin? when you heard about it, or when you tried it out.

i heard about bitcoin many times but did not appreciate it till after i got enough bitcoin from a faucet to send bitcoin from one address to another.
no need for a sh$t loads of forms to fill out, just send and ka-ching its in my other wallet.

also did not appreciate  bitshares till i tried bitbtc , its awesome earning interest on bitcoin knowing i can take it out at anytime, (unlike pbmining(facepalm) cryptostocks(facepalm) bitcoin-trader.biz(facepalm) butterflylabs(Dont ask))

if you are looking to increase the value of Devshares, then share them out to has many people has possible so people can try out the bitshares platform for themselves.
its a much better way of understanding/promoting bitshares than interviews, articles  and the other promotional campaigns.
give them something to play with.

having more people/accounts on the devshares system would be helpful for bug hunting and looking for ways to improve the system, that is value right?

could also be less of a problem diluting Devshares , once a year create more coins and share them out.

something like
%20bts  10faucet 5pts  5bitcoin 5litecoin 5ripple 5stellar 5ltbcoin 5counterparty 5nxt 5namecoin 5darkcoin 5ltbcoin  5maidsafe 5ltbcoin 5doge

its just an idea , but if i got Dev-namecoin , Dev-nxt or other Dev-coin's dropped on my account i would check it out. especially if its free :)
 
Title: Re: How to increase the value of Devshares
Post by: Stan on December 28, 2014, 11:54:14 pm
has the devshares share drop happened yet?

if not this could be a great marketing tool , think about it , when did most people get (understand)bitcoin? when you heard about it, or when you tried it out.

i heard about bitcoin many times but did not appreciate it till after i got enough bitcoin from a faucet to send bitcoin from one address to another.
no need for a sh$t loads of forms to fill out, just send and ka-ching its in my other wallet.

also did not appreciate  bitshares till i tried bitbtc , its awesome earning interest on bitcoin knowing i can take it out at anytime, (unlike pbmining(facepalm) cryptostocks(facepalm) bitcoin-trader.biz(facepalm) butterflylabs(Dont ask))

if you are looking to increase the value of Devshares, then share them out to has many people has possible so people can try out the bitshares platform for themselves.
its a much better way of understanding/promoting bitshares than interviews, articles  and the other promotional campaigns.
give them something to play with.

having more people/accounts on the devshares system would be helpful for bug hunting and looking for ways to improve the system, that is value right?

could also be less of a problem diluting Devshares , once a year create more coins and share them out.

something like
%20bts  10faucet 5pts  5bitcoin 5litecoin 5ripple 5stellar 5ltbcoin 5counterparty 5nxt 5namecoin 5darkcoin 5ltbcoin  5maidsafe 5ltbcoin 5doge

its just an idea , but if i got Dev-namecoin , Dev-nxt or other Dev-coin's dropped on my account i would check it out. especially if its free :)


So... DevShares becomes both a Proving Grounds and a Training Grounds!

Long ago Charles Hoskinson and I pondered a business model that had such a "training simulator" for people to safely experiment with beginning and advanced trading methods and tools...

I forget which of us said, "Are you pondering what I'm pondering, Pinky?"


Title: Re: How to increase the value of Devshares
Post by: script on December 29, 2014, 12:30:54 am
has the devshares share drop happened yet?

if not this could be a great marketing tool , think about it , when did most people get (understand)bitcoin? when you heard about it, or when you tried it out.

i heard about bitcoin many times but did not appreciate it till after i got enough bitcoin from a faucet to send bitcoin from one address to another.
no need for a sh$t loads of forms to fill out, just send and ka-ching its in my other wallet.

also did not appreciate  bitshares till i tried bitbtc , its awesome earning interest on bitcoin knowing i can take it out at anytime, (unlike pbmining(facepalm) cryptostocks(facepalm) bitcoin-trader.biz(facepalm) butterflylabs(Dont ask))

if you are looking to increase the value of Devshares, then share them out to has many people has possible so people can try out the bitshares platform for themselves.
its a much better way of understanding/promoting bitshares than interviews, articles  and the other promotional campaigns.
give them something to play with.

having more people/accounts on the devshares system would be helpful for bug hunting and looking for ways to improve the system, that is value right?

could also be less of a problem diluting Devshares , once a year create more coins and share them out.

something like
%20bts  10faucet 5pts  5bitcoin 5litecoin 5ripple 5stellar 5ltbcoin 5counterparty 5nxt 5namecoin 5darkcoin 5ltbcoin  5maidsafe 5ltbcoin 5doge

its just an idea , but if i got Dev-namecoin , Dev-nxt or other Dev-coin's dropped on my account i would check it out. especially if its free :)


So... DevShares becomes both a Proving Grounds and a Training Grounds!

Long ago Charles Hoskinson and I pondered a business model that had such a "training simulator" for people to safely experiment with beginning and advanced trading methods and tools...

I forget which of us said, "Are you pondering what I'm pondering, Pinky?"

well yes brain , for example i really want to play around with bitshares , shorting the usd and such ,
but has a noob am too afraid of mucking something up and losing my bts (kinda was the same with bitcoin at first) ,
 so yes really looking forward to devshares and playing around with it :) kind of like a forex demo account.

PS: pinky was the good looking one ;p
Title: Re: How to increase the value of Devshares
Post by: Stan on December 29, 2014, 01:04:02 am
has the devshares share drop happened yet?

if not this could be a great marketing tool , think about it , when did most people get (understand)bitcoin? when you heard about it, or when you tried it out.

i heard about bitcoin many times but did not appreciate it till after i got enough bitcoin from a faucet to send bitcoin from one address to another.
no need for a sh$t loads of forms to fill out, just send and ka-ching its in my other wallet.

also did not appreciate  bitshares till i tried bitbtc , its awesome earning interest on bitcoin knowing i can take it out at anytime, (unlike pbmining(facepalm) cryptostocks(facepalm) bitcoin-trader.biz(facepalm) butterflylabs(Dont ask))

if you are looking to increase the value of Devshares, then share them out to has many people has possible so people can try out the bitshares platform for themselves.
its a much better way of understanding/promoting bitshares than interviews, articles  and the other promotional campaigns.
give them something to play with.

having more people/accounts on the devshares system would be helpful for bug hunting and looking for ways to improve the system, that is value right?

could also be less of a problem diluting Devshares , once a year create more coins and share them out.

something like
%20bts  10faucet 5pts  5bitcoin 5litecoin 5ripple 5stellar 5ltbcoin 5counterparty 5nxt 5namecoin 5darkcoin 5ltbcoin  5maidsafe 5ltbcoin 5doge

its just an idea , but if i got Dev-namecoin , Dev-nxt or other Dev-coin's dropped on my account i would check it out. especially if its free :)


So... DevShares becomes both a Proving Grounds and a Training Grounds!

Long ago Charles Hoskinson and I pondered a business model that had such a "training simulator" for people to safely experiment with beginning and advanced trading methods and tools...

I forget which of us said, "Are you pondering what I'm pondering, Pinky?"

well yes brain , for example i really want to play around with bitshares , shorting the usd and such ,
but has a noob am too afraid of mucking something up and losing my bts (kinda was the same with bitcoin at first) ,
 so yes really looking forward to devshares and playing around with it :) kind of like a forex demo account.

PS: pinky was the good looking one ;p

Egad, Brain, Brilliant!

(http://cheekycannibal.files.wordpress.com/2011/01/pinky_and_the_brain01.png)
Title: Re: How to increase the value of Devshares
Post by: Akado on January 03, 2015, 08:10:47 pm
I thought devshares were designed for testing the network so I think people shouldn't worry on increasing their value. They were not created to make a profit. As long as they have non-zero value, they can be used for testing. I really think this goes against the concept of devshares, unless I got it wrong.
Title: Re: How to increase the value of Devshares
Post by: merockstar on January 03, 2015, 11:40:55 pm
well yes brain , for example i really want to play around with bitshares , shorting the usd and such ,
but has a noob am too afraid of mucking something up and losing my bts (kinda was the same with bitcoin at first) ,
 so yes really looking forward to devshares and playing around with it :) kind of like a forex demo account.

PS: pinky was the good looking one ;p

I'm going to chime in to say that I would support this. I went to short bitUSD back at $0.013 and said "what the hell? interest rates? awww shit gotta research more now. how am i supposed to know what price to set the interest at?"

having devshares to dick around with sounds invaluable.