Quote from: GaltReport on December 16, 2014, 12:49:42 pm

Excuse my stupid question but can someone explain where the funds come from for the following terms used for spending funds:

Paid Delegates
"Burned" Funds
Dillution

I am honestly confused by the terms and want to make informed delcomments/choices.

not a stupid question, so you're not excused

Paid Delegates: Most delegates are getting paid some percentages of the transaction fees for every block they sign. For most delegates 3% is an accepted number to make up for the effort and costs of running a delegate at the moment.

However, if you're a marketing badass, a code genius, or have some other brilliant way to contribute, you can campaign to have people vote for your 100% delegate, which if elected, would pay you enough to actually friggin live off. Our blockchain can provide jobs.

When a delegate is not keeping 100%, whatever fees are left over get burned, reducing the supply and therefore distributing value back to the rest of BTS holders.

Originally, BTS was planned to be a deflationary currency, with a hard cap on supply which would get reduced over time as delegates burned fees (thus paying interest to shareholders).

These days we are less about deflation, but the ability for delegates to burn fees is still in there. So I'm asking how many 100% paid delegates people are cool with before they'd like to see some profit given back to shareholders.

If you're going to host a proper audit, then I'd suggest the following:

• Select an odd number of auditors from the community who do not have a direct connection to the current marketing team
• Provide the auditors with unrestricted access to all relevant emails, skype logs, financial records, and paperwork pertaining to the subjects being audited
• Draft and sign a privacy and disclosure agreement for the auditors
• Solicit from the community a list of concerns and questions they want addressed
• Have the auditors draft a report containing at least the following sections:

• A monthly timeline of actions taken by the marketing team
• A financial summary and timeline of funds spent by and for marketing alongside supporting comments from the marketing team
• Summarize the marketing strategy(ies) pursued and how success was to be judged
• List the data sources marketing curated to measure effectiveness of their efforts
• Recommendations from the Auditors

• The final report should be publicly released and available to the entire community for review and comments. The marketing team should also have the freedom to first review the report prior to release in order to prepare a response to the findings.
  

That's off the top of my head. Probably more to cover.

Quote from: bytemaster on December 14, 2014, 03:21:17 pm

Quote

So long story short. The bridge to mass adoption is through the VOTE features of BitShares as just explained (IMO of course).
Though the Financial aspect of BitShares is nothing to discount either!!

Ding Ding Ding.  Someone gets it

Here is Max keiser saying exactly that "The bridge to mass adoption is through the VOTE features of block chain technology" in the second half of his show.
(see- https://www.youtube.com/watch?v=QgcuDaPGdQ8)

The bridge to mass adoption is through creating a robust and well marketed BitAsset system.

The snapshot valued VOTE at less than $1 million while PTS valued BTSX at $30 million when it was just an idea by an unproven team.

The Vote subforum is the least popular in BitShares despite us being the target market.

If the ideological tangent is something you're passionate about it's worth pursuing but the real business with an actual significant market value for us or a competitor is and will be BitAssets for the next few years. Whoever gets that and the marketing of it right is rich.