My thoughts, as someone who discovered bitshares in September:

If PTS had been forever closed to me at the time I discovered bitshares, I wouldve been very frustrated.  I would not have continued investigating bitshares, and I would not have bought a bunch of PTS and BTSX.

If you lock out everyone who does not currently have AGS or PTS from EVER acquiring a stake in the genesis shares of new DACs, then you will cause a huge number of people who discover us later to feel they have missed the boat, that they cannot participate in these new DACs, and they will leave, and not become members of the bitshares community.

So I think it is critical that we do NOT forever shut off any way to buy into the PTS/AGS genesis shares of new DACs.

Also, if we did that, and PTS then went to 0, there would be a TON of people out there going "Bitshares is dead, the price is zero".  You would see BTSX go back to 1 cent, purely based on idiots who didnt understand anything dumping.  People outsdie our community dont understand the difference between PTS and BTSX, they would see PTS go to 0 and would then forever avoid this whole bitshares thing.

**************

That said, obviously continuing to waste money on mining is bad, so we should either:

1) Convert PTS to DPoS.
or
2) Combine AGS/PTS into a new 'Bitshare' unit, and have this be DPoS.

Whatever it is, it needs to be tradable, so that newcomers can buy in.

Quote from: bytemaster on October 17, 2014, 03:11:14 pm

Buying into "snapshots" is very tricky because the value of PTS includes so many factors that you don't know what price you are getting.   If you are really interested in a particular DAC it is almost always better not to buy PTS but to buy that one DAC because you will get a larger stake per value.   See the Peertracks Pre Sale... cheaper to buy in via their AGS system than via PTS.

To correctly make this comparison you have to use the anticipated price drop of PTS as the purchase price you are comparing.  There is residual value in PTS after traditional snapshots that doesn't count against what you paid to get those NOTES or whatever.

I completely support the idea of MMC 3.0 and if we can come to an understanding, I will join the development team. I do have some suggestions you may wish to consider.

1) start a new chain , altcoins are different from BTC in that once an alt becomes settled, forking it leaves many behind.

2) (if I am part of this) let's really pull together some communities, instead of MMC and NRS only, lets have a larger sharebase. Those who wish to participate should burn their existing coins on their respective chains and will be allocated in MMC 3.0

3) if 2 is done, lets use a different name.

4) maybe consider BTSX as a model, I hear good things about DPoS

Quote from: biophil on October 16, 2014, 07:11:42 pm

Quote from: donkeypong on October 16, 2014, 06:47:03 pm

I must have missed something. Are these guys honoring the BitShares Social Consensus? No? With all due respect to Fuzz and all your wonderful, unsung efforts to improve this world, if Cinni is walking off with this technology without thanking this community, then screw 'em. There are times to be touchy-feely-friendly and cooperate with other coin communities. And there are times to stand up for this community and demand greater respect.

Two choices, Cinni:
(1) Drop 10%+ each on AGS and PTS holders, honoring the BitShares Social Consensus and respecting the developers/investors who have put in their time, money, and determination to help build this toolkit.

OR

(2) Float your coin as an asset on the BitShares X chain.

You do neither, then I don't care if you're using DPoS. You're not a part of BitShares and you don't deserve any help with your shitcoin from us. That's not me being selfish or nasty. That's me standing up for this community, which I think deserves real respect from you.

They are honoring the social consensus: https://bitcointalk.org/index.php?topic=573232.msg9202557#msg9202557
There's your answer. (caveat: he seems to have made a math error and his exact numbers need to be corrected to hit 10%/10%, but I think that was just oversight.)

To all the rest of the angry BitShares people who have been so hostile towards Cinni, please think about what you're doing! Whether Cinni turns out to be innovative or not, it is pioneering the process of forking BitShares and doing it exactly right: they're honoring the social consensus. If the very first consensus-honoring BitShares fork is turned away with tribalistic sneers and jeers and allegations of "scam" and "shitcoin," why do you think any other dev would waste his or her time honoring the social consensus?

Cinni is setting an important precedent for BitShares forks: Honor the Social Consensus.

BitShares community, Please do not set a precedent of hostility towards coins that freely offer to honor the social consensus!

If he had shown up with anything else than a shitcoin (well, shitshares), he would have been welcomed with fireworks. Here, he whales himself 80% of the shares of a bitshares X clone with no apparent value, and doesn't even try to justify his project. That doesn't deserve a strong support of the community, because it quite obviously has no value.

Anyone having issues dumping the private key using this client?  Please help.

My guess is that the low float also has something to do with re-branding as KeyID.  I've stayed far away from Keyhotee stuff because I'm not really enthusiastic about their business model for a variety of reasons.  So a lot of people probably just skip this subforum in the list.  I'm kind of a forum regular and I didn't know about the re-branding or the launch until Toast told me directly in a private conversation.

The point is, I think the float is so low because people just don't know about the DNS launch.  There has been so little marketing that even people like me, who follow the forum closely, weren't aware of it!

Quote from: bytemaster on October 15, 2014, 07:59:53 pm

Lets just say that all ideas to be included in this DAC have been discussed in part on the forums already, but the particular combination and in particular STRATEGY for deployment and capturing of network effect is what has me excited...

Shot in the dark..Pay rewards to to the voters, like yield on BitUSD

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