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Couldn't this model be used for ALL forms of media?
ArtShares (digital art)? PodShares (podcasts)? MelodyShares (Music)? TubeShares (video)? ...InterpretiveDanceShares? (ok ok...too far there...but you get the idea)
If I am not missing something, this could blossom into something really all-encompassing--though the higher bandwidth ones may require a bit longer to implement due to their larger file-sizes...
It is a market for speculation on ideas represented outside the blockchain, so no need to store content in the blockchain.... it could just be a torrent link.
Could this model be used to bring TRUE crowd-sourced ratings on politicians based on voting records?
We all know of the quote "Lies, Damned Lies and Statistics"...because up until now Statistics were almost always altered by some Central Authority. With the introduction of DAC's (god you guys are awesome for this invention btw), ratings could truly be crowd-sourced...and statistical models built upon data truly gathered through the "wisdom of the masses".
Great concept. We won't know until some inspired entrepreneur (like yourself?) releases such a DAC into the wild...
BitShares is a prediction market, and can operate like existing prediction markets. We have designs for a secure, authenticated, yet anonymous, continuous voting system that could end media manipulation of opinion polls as well as the less-of-two-evils voting because you can change your vote (anonymously) at any time up until the end of the election.
Here is how I came up with a speculative value. Protoshares receive 50% of dividends from mining right? That is the formula? Asicminer never achieved 50% of the mining profitability of the network and how much was a share of Asicminer worth at it's peak? Around 5 BTC per share?
Now there were only 400,000 Asicminer shares if my memory serves me correctly and there are 2 million Protoshares. 1 BTC per protoshare seems reasonable if the dividends are good enough and it could go up to 2 or 3 BTC.
But don't anyone hold me to it because I don't know anything about the plans and could be wrong.
ProtoShares' current release does not pay dividends. It is a path to owning shares of other DACs when they launch, many of which will pay dividends. BitShares, for example, will pay dividends as will most Invictus DACs. Since each DAC is an independent unmanned business, other DACs from various developers may have different business models, including their own built-in transparent rules for if and how they pay dividends. This is a balance between rewarding owners (shareholders) and workers (miners), like any brick and mortar and flesh and blood business. Each developer is of course free to experiment with publishing rules that will make its DACs most attractive to investors and miners.
I was wandering, will the mining difficulty be getting reset (for bitshares) or will it be inherited from the PTS difficulty in the genesis block?
The initial difficulty for BitShares will be the same order of magnitude as PTS and will adjust continuously.
Long term value of PTS cannot be defined just by the value of PTS. Remember, PTS gives you a share in other exciting technologies. For instance, it's possible that a year from now, PTS is trading at 0.01BTC, around the current rate. Does that mean that was the long term rate of PTS? No, because in a year, most likely, you'll have Bitshares out and perhaps they are trading at 0.1BTC.
The value of PTS depends on whether you hold them before or after another Invictus DAC is released. Each time such a DAC is released, theoretically at least, you should see a price drop.
