Show Posts

This section allows you to view all posts made by this member. Note that you can only see posts made in areas you currently have access to.


Messages - stuartcharles

Pages: 1 2 3 4 5 [6] 7 8 9 10 11 12 13 ... 19
76
General Discussion / power corrupts absolute power corrupts absolutely
« on: October 23, 2014, 08:45:01 am »
vote rigging
propaganda
centralization
cronyism
greed
inflating away property rights
knowing whats best for other people

I'm talking about government of cause but there is reasons why government after government, civilization after civilization, company after company fell into the same traps. I put this out as a reminder to avoid the pulls of the dark side.


77
General Discussion / Re: Now is the perfect time to implement sweeping transparency measures.
« on: October 22, 2014, 01:38:10 pm »
Quote from: Rune on October 22, 2014, 01:34:22 pm
Quote from: matt608 on October 22, 2014, 12:57:47 pm
Ok, well as long there is a plan for such an event.  If it can be solved by an emergency hard fork then great.  Even so I've not heard much about such a plan being put in place yet.

That's because no one took the initiative yet. Consider this the initiative.



Also, just to reiterate. I'm not arguing that these changes should be implemented ASAP, or before any particular date. It will take time to adjust, and there will undoubtedly be bumps along the way. But it is absolutely CRUCIAL that we have these things fully implemented before we begin the marketing push, and what I am hoping to get is a commitment from I3 of getting this implemented before it begins.

Using any resources on marketing before we implemented our greatest strength and force multiplier, transparency, would be a waste.

 +5%

78
General Discussion / Re: BitShares the Platform
« on: October 22, 2014, 10:27:53 am »
Quote from: xeroc on October 22, 2014, 08:22:34 am
I am the most excited about the possibility to fund development via delegates .. there just is NO NEED to run a brick and mortar company any longer ..
Bam .... Freelancing on the blockchain .. how about that!?!!!

 +5% for that, and great thread Stan  +5%

79
General Discussion / Re: Proposed Allocation for Merger
« on: October 22, 2014, 10:15:52 am »
I think the lock out is to keep the devs that gain a large share offer from liquidating. From this sense BM negotiated a great deal for us. Maybe it should only be applied to those people that were tied in for good reason?

Saying that its kind of hard to change anything now, the market is pricing in the proposal and changing it again is going to upset a whole new group of people.

As a disclaimer - I own assets from all DAC's, PTS and AGS. I have added to my positions all the way but i have never sold anything.

80
General Discussion / Re: For 10% dilution, how much are we really talking?
« on: October 21, 2014, 07:13:25 pm »
Quote from: xeroc on October 21, 2014, 07:04:09 pm
Quote from: stuartcharles on October 21, 2014, 06:57:40 pm
Quote from: xeroc on October 21, 2014, 06:52:33 pm
Quote from: bytemaster on October 21, 2014, 06:50:44 pm
2500 BTS per block max.
So the newly created shares are fixed and the distribution depends on the votes of the "business delegates"?
No, this would be a big mistake. We have to vote on delegates and their services one by one.

Maybe one delegate wants to do the website, they ask for X shares per block.

another does the forum

another marketing

another development

This is true and full transparency, fantastic

So it'll be implemented more like a negative burn that is tied to the individual delegate ..

delegate 1 makes 50% "injection" -> 1250 BTSX per block
delegate 2 makes 100% "injection" -> 2500BTSX per block

Is that about right?

Im not a coder but i have a good knowledge of business and economics. My opinion is that the share dilution should not be fixed to the maximum. New projects will come all through the year. We don't want to support one and then regret it because another good one comes along, we need to be able to support both (in reality 10's of different ones all starting and potentially finishing at different times of the year)

81
General Discussion / Re: For 10% dilution, how much are we really talking?
« on: October 21, 2014, 06:57:40 pm »
Quote from: xeroc on October 21, 2014, 06:52:33 pm
Quote from: bytemaster on October 21, 2014, 06:50:44 pm
2500 BTS per block max.
So the newly created shares are fixed and the distribution depends on the votes of the "business delegates"?
No, this would be a big mistake. We have to vote on delegates and their services one by one.

Maybe one delegate wants to do the website, they ask for X shares per block.

another does the forum

another marketing

another development

This is true and full transparency, fantastic

82
General Discussion / Re: How much should the hard coded cap on dilution/share issuance be, per year?
« on: October 21, 2014, 06:41:22 pm »
Quote from: bytemaster on October 21, 2014, 06:11:26 pm
Quote from: Mysto on October 21, 2014, 04:53:13 pm
I personally don't think there should be a hard cap. We don't know what the future holds and we don't know if maybe 20 years down the line we will need DCI (Delegated Capital Infusion) for something very large scale and important. A fixed percent a year is fine but a hard cap is not imo.

The hard cap is like the "debt ceiling of the US government".... they can raise it any time the like but it requires more work and public debate like a hard fork.   So we set a budget for BTSX of 10% per year... $5 million at todays cap... the only conceivable reason for increasing the limit is if the value crashed further and the people still committed to the project needed paid.   If the value goes up then the spending ability will grow with it.    So I like the "bitcoin style cap".... a maximum number of shares per block to be issued... it will decrease as a percentage of the whole.    Bitcoin started with 50 BTC and is now at 25.... I suggest we set ours at 2,500 BTS per block as this is very close to what BTC is doing now.

Please clarify, the % is the maximum inflation not the amount a budget is set for? Also it cant be pumped out at a set rate, delegates have to make propositions and receive votes.

Please clarify, "So we set a budget for BTSX of 10% per year... $5 million at todays cap" That could sound like i3 sets a budget?

83
General Discussion / Re: How much should the hard coded cap on dilution/share issuance be, per year?
« on: October 21, 2014, 04:33:59 pm »
Quote from: bluebit on October 21, 2014, 04:27:28 pm
I would look to increase value instead of dilute.

How would we get that increased value without development and marketing, and if you agree it has to be through development and marketing how do we pay for that if not through dilution?

84
General Discussion / Re: How much should the hard coded cap on dilution/share issuance be, per year?
« on: October 21, 2014, 04:14:50 pm »
Quote from: Stan on October 21, 2014, 04:02:07 pm
Quote from: stuartcharles on October 21, 2014, 03:39:08 pm
Quote from: Rune on October 21, 2014, 03:29:00 pm
Quote from: stuartcharles on October 21, 2014, 03:26:56 pm
Quote from: bytemaster on October 21, 2014, 02:09:28 pm
Quote from: fuzzy on October 21, 2014, 02:02:23 pm
+5% for this thread.

I think a hard coded cap as a "safety net" on "abuse of voting in the short term".... I think the social consensus should be 'as necessary and agreed upon by shareholders'... the "cap" should be like the bitcoin block size cap... and perhaps set to the same as Bitcoin's dilution schedule.

I absolutely agree, this is as much about market confidence as anything. The cap of 22 million bitcoins has become sacred, everyone knows that know one in there right mind would consider changing it. To gain the absolute confidence of investers, public and users we need some things to be sacred. A hard coded cap and dilution rate along with a statement from dev's that this was iron cast would add a ton of confidence to BTS

No

It can be hard to understand, but I think the easiest way to explain it is bitcoin = gold 2.0, bitshares = stocks 2.0

That dose not explain your "no" to me. I will need a lot more than that to be convinced that a set of clear rules arnt important. Blockchain technology lives outside the law and regulations so it does need some rules built in.

Companies typically have "by-laws" that control how the board of directors must operate...

http://en.wikipedia.org/wiki/By-law

They can be thought of as meta-laws but the directors are given the authority to make day-to-day business deals.  The shareholders get to elect the directors and vote on any changes to the meta-laws (bylaws).

by-laws or social contracts are great but i believe we must have some ridged rules built into the code too. Without them too much trust is required. Also we would give our competitors a stick to hit us with.

If we had a high participation in voting there would be a argument for this but given i3's influence and the lack of active voting we dont have that luxury

85
General Discussion / Re: How much should the hard coded cap on dilution/share issuance be, per year?
« on: October 21, 2014, 03:39:08 pm »
Quote from: Rune on October 21, 2014, 03:29:00 pm
Quote from: stuartcharles on October 21, 2014, 03:26:56 pm
Quote from: bytemaster on October 21, 2014, 02:09:28 pm
Quote from: fuzzy on October 21, 2014, 02:02:23 pm
+5% for this thread.

I think a hard coded cap as a "safety net" on "abuse of voting in the short term".... I think the social consensus should be 'as necessary and agreed upon by shareholders'... the "cap" should be like the bitcoin block size cap... and perhaps set to the same as Bitcoin's dilution schedule.

I absolutely agree, this is as much about market confidence as anything. The cap of 22 million bitcoins has become sacred, everyone knows that know one in there right mind would consider changing it. To gain the absolute confidence of investers, public and users we need some things to be sacred. A hard coded cap and dilution rate along with a statement from dev's that this was iron cast would add a ton of confidence to BTS

No

It can be hard to understand, but I think the easiest way to explain it is bitcoin = gold 2.0, bitshares = stocks 2.0

That dose not explain your "no" to me. I will need a lot more than that to be convinced that a set of clear rules arnt important. Blockchain technology lives outside the law and regulations so it does need some rules built in.

86
General Discussion / Re: How much should the hard coded cap on dilution/share issuance be, per year?
« on: October 21, 2014, 03:26:56 pm »
Quote from: bytemaster on October 21, 2014, 02:09:28 pm
Quote from: fuzzy on October 21, 2014, 02:02:23 pm
+5% for this thread.

I think a hard coded cap as a "safety net" on "abuse of voting in the short term".... I think the social consensus should be 'as necessary and agreed upon by shareholders'... the "cap" should be like the bitcoin block size cap... and perhaps set to the same as Bitcoin's dilution schedule.

I absolutely agree, this is as much about market confidence as anything. The cap of 22 million bitcoins has become sacred, everyone knows that know one in there right mind would consider changing it. To gain the absolute confidence of investers, public and users we need some things to be sacred. A hard coded cap and dilution rate along with a statement from dev's that this was iron cast would add a ton of confidence to BTS

87
General Discussion / Re: How much should the hard coded cap on dilution/share issuance be, per year?
« on: October 21, 2014, 01:31:11 pm »
Quote from: Rune on October 21, 2014, 01:12:45 pm
Quote from: stuartcharles on October 21, 2014, 09:31:12 am
I think this part of the proposal is not being discussed enough.

The proposal is to allow BTS to be diluted by the issuing of more BTS. In the mumble session BM suggested that a cap could be hard coded.

As well as voting on what you think that hard cap should be can we also have a discussion about :-

1. what we would consider it acceptable to spend the raised capital on? Development? Marketing?
2. Who should have control of the raised funds?
3. how will the amount of dilution be decided upon on a call by call basis?
4. Who can make a call for more shares to be issued?
5. Will there be a maximum frequency of share calls hard coded?
6. If X% per year is decided upon as a maximum, will we also have a maximum individual share call hard coded? eg if 10% was decided as the hard coded limit for a year should we have a maximum share call within that year hard coded like 2%?

These are just a few questions to get the ball rolling, I just think that this part of the proposal is not getting the posts is deserves.

You misunderstand how it is going to work. Individual delegates can register as inflating delegates, with a set amount of BTS printed per block. They will have to be voted in as delegates for it to take effect, so stakeholders will always vote on all inflation projects. An example could be a new developer that wants to work full time on making and maintaining an iOS wallet. He would then pitch his project on the forums along the salary he is asking for. The community can then have a dialogue with him and he can amend his project plan after getting feedback. Once his project is ready, he will register a delegate and stakeholders will decide if they want to vote him in or not.

Once he has been voted in, he will have to follow the transparency strategy he had in his original plan, and report his progress and spending weekly or monthly or whatever interval he has committed himself to do on these forums. If he misses a commitment, or it comes apparent from his reports that he isn't doing well enough, stakeholders will vote him out again. There'll probably be a very active "vigilante brigade" that will do everything they can to ensure he gets kicked out if he doesn't follow his commitments fully.

That seems reasonable, can you point me to the thread where this was discussed. I looked around but couldn't find the debate.

88
General Discussion / Re: How much should the hard coded cap on dilution/share issuance be, per year?
« on: October 21, 2014, 11:52:09 am »
Quote from: Pheonike on October 21, 2014, 09:54:09 am
We will also have to define what is year. Calendar, fiscal, start, end fate.  There's a lot structure that has to be put in place for decision making.

lets just say for now any 365 day period, as long as its the same 365 days i don't think its an issue.

Theres only been a few votes so far but half of them are for 0%. I would like to know from those that don't think there should be any issuance of extra shares, how do you propose we guarantee future development? Dont you think its a flaw in bitcoin that is has no development fund?

89
General Discussion / How much should the hard coded cap on dilution/share issuance be, per year?
« on: October 21, 2014, 09:31:12 am »
I think this part of the proposal is not being discussed enough.

The proposal is to allow BTS to be diluted by the issuing of more BTS. In the mumble session BM suggested that a cap could be hard coded.

As well as voting on what you think that hard cap should be can we also have a discussion about :-

1. what we would consider it acceptable to spend the raised capital on? Development? Marketing?
2. Who should have control of the raised funds?
3. how will the amount of dilution be decided upon on a call by call basis?
4. Who can make a call for more shares to be issued?
5. Will there be a maximum frequency of share calls hard coded?
6. If X% per year is decided upon as a maximum, will we also have a maximum individual share call hard coded? eg if 10% was decided as the hard coded limit for a year should we have a maximum share call within that year hard coded like 2%?

These are just a few questions to get the ball rolling, I just think that this part of the proposal is not getting the posts is deserves.
 

90
General Discussion / Re: The Significance of What We Are Doing...(Vote)
« on: October 21, 2014, 08:59:51 am »
Quote from: fuzzy on October 20, 2014, 09:02:42 pm
While we are all worrying about how these things are going to effect our investments, we might be forgetting the larger purpose. 

Sometimes it is healthy to remind ourselves... https://www.youtube.com/watch?v=L40N-zOV0mM

So we can ask ourselves..."what are we willing to give, for real freedom."

Notice how everyone simply sits and watches.  Would you?  Or would you do something?  I think...we are here...to do something.

Thanks for sharing that, i will certainly be passing it on.

Pages: 1 2 3 4 5 [6] 7 8 9 10 11 12 13 ... 19

Page created in 0.198 seconds with 23 queries.