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Messages - bitProfessor

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46
General Discussion / Re: Committee Fund Operation Review
« on: September 12, 2019, 08:57:34 am »
Why not let BBF pay the 2.5M BTS to committee-account, then the latter borrow 600K CNY with 8.27M BTS and margin call price=0.116 CNY(less than current GS price), and pay back to BBF?

I find this a good suggestion, joint effort and using community funds as collateral for community approved payments.
It looks good. Need to think about it.

47
@tshen @bitcrab
The worker system is what makes bitshares unique and now we cut off the very people trying to advance bitshares?  If we do not pay the developers, they will simply find another job to put food on the table.  Once they are gone, it's game over, they will not come back.

It has been suggested before to create multiple 100k refund workers so it's easier include or exclude all the workers.  No time like the present to do this and get development funded again.

IIRC the core worker has enough fund to support development.

If necessary, I'd like to suggest to vote core worker to top&active.

however, I don't think it's very difficult to find skilled enough developers to do the core dev job.
I am sorry to see you say this.

48
General Discussion / Re: AVG2907 dumping price massivly ?
« on: September 01, 2019, 11:55:58 pm »
Avg2907 is not the main reason,Someone sold bts above 400k+, the purpose is to eat the mortgage at a low price.

49
@tshen @bitcrab
The worker system is what makes bitshares unique and now we cut off the very people trying to advance bitshares?  If we do not pay the developers, they will simply find another job to put food on the table.  Once they are gone, it's game over, they will not come back.

It has been suggested before to create multiple 100k refund workers so it's easier include or exclude all the workers.  No time like the present to do this and get development funded again.
Agree,That's what I'm worried about.

50
General Discussion / Re: suggestion on new OMO fund
« on: September 01, 2019, 01:50:22 pm »
The commitee should absolutely burn the existing funds, settle any smartcoins held to lower the margin sell wall and send BTS back to reserve pool. If you want to try and restart OMO then do it through worker proposal.

This would be a waste.
I will open a worker tonight more complex to support BTS price.
However i think bitcrabs proposal is not good enough because you can put even a 10 million BTS buy wall on DEX which can be easily destroyed by lowering BTS price on CEX which will make that margin call's will eat the support wall quickly which he have seen in the past.

I prefered first to talk about it more with committee thats why i try to join there but it seems it's currently urgent so i will hurry up.
Can you talk about your idea?

51
Stakeholder Proposals / Re: Proxy: bitshares-vision
« on: August 30, 2019, 05:31:05 pm »
Hello, I would like to thank @ioBanker very much for raising this matter and everybody who contributes to the discussion!

Athough I share most of the ideas highlighted by @ioBanker above, I am more crytical towards current situation of the community and do believe Bitshares are in deep crysis that may easily finish with the ecosystem's marginalization and stagnation, moving price of the core currency down.
IMHO the root cause of the problem is lack of leadership and vision. The founder has left the project in the early stage and there is noone who effectively replace him. Decentralized governance so far is not being effective enough to cope with the current challenges and drive the DAC towards success and mass adoption. The original idea and vision has never neen revised and most likely are not shared by most of the stakeholders at the moment. The fact that several people are expressing similar opinions at the same time, and major stakeholders undertake immediate and rough actions to change the trend, shows that it is time for major actions to address system issue that we have. I strongly believe this is not a subject for just, minor correction.

I would like to put here a copy of my post in the other thread, I do believe it is totally relevant for this discussion. Sorry for the long read.


Let me express my humble opinion on the current Bitshares status and possible future development, based on my deep understanding of Bitshares as well as common business rules, marketing and analisys of other blockchain ecosystem. I may be missing some parts of the full picture because I'm not involved in some of the core activities and not being part of the governance team, however I believe I express more or less independent opinion and can think out of the box.

In few words, there is no difference between DAC and a typical company (there are some slight ones, but generally those are not game changers), and therefore a DAC MUST follow same rules to win the business and increale its value, namely:
1. Have a clear governance and ownership structure, with effective internal communication and decision making means.
2. Have a clear mission and values adopted by the management. Those to be put as corner stones under the marketing and business strategy.
3. Have a clear marketing and business strategy - what is the business, its short and long term goals, who are the target customers, what is the value proposition, how do we position our company on the market and compete with other companies - etc, etc.
4. Have a clear legal structure and follow the regulation of the operating markets.
5. Have a clear and effective financial managment, to control revenues, costs and investments.
6. Have all resources (financial, human, material) that are required to implement the business plan.
7. Have a clear and effective organizational structure so that company management and emplyees could collaborate effectively and know who is responsible for what.
8. Have a clear communication strategy to integrate the efforts and report on results.

This is the basis and 99% of you know this is a paramount for any successfull business.

SO WHY BITSHARES IS GOING THE OTHER WAY?!
WHY THE HELL DO YOU THINK THIS DAC WOULD BE A SUCCESS IF IT DOES NOT FOLLOW BASIC BUSINESS RULES?!

Let's look at the points above in more details.

1. Governance and ownership structure: although this is the backbone of DPOS consensus, it definitely could be better. Generally, we have 4 levels of governance:
- investors (aka BTS holders). Many of those have no idea how Bitshares is governed, to whom they proxy their voting power and don't participate the DAC governance in any way.
- proxys, actually key decision makers in the ecosystem. Most likely do not share any common vision, often acting only in own interest and are not actively supported by investors (e.g. historically have many stakes from referrals or hold a CEX account).
- committee. Although being publicly elected and are in control of key network settings, they have low power when it comes to business decisions, again not sharing same vision and in many cases care more about their own business (although inmany cases aligned with the DAC).
- witnesses, mostly providing technical resources for the network to operate, but sometimes can implement some power, i.e. when it comes to price feeds. Probably the best part of the governance model, working as  it should be.
2. Mission and values adopted by the management. As mentioned before, there are different opinions on that matter, and this is OK. However, the government MUST work out some statements supported by the majority and use those to define the strategy. Othervise the backbone is missing and the body is vulnerable and weak.
3. Marketing and business strategy - again, no consensus on that matter. Many people express their opinions because they have their vision and care but nothing formulated and agreed upon by the majority. Having weak plan is better than having no plan, but we don't have even a weak one. Key questions - what is the value Bithsares brings, is it for individuals or businesses, how do we reach them, what is the message we send.
4. Legal structure - although BBF is a good step, it is definitely not enough. Legal status and regulations applied are not defined. This prevents business from adoption and buy-in and makes Bitshares a very risky investment.
5. Financial managment - there is some form of it, but having every single penny recorded in the ledger, must be more formal and detaled, also support the business strategy. Noone is in charge of the DAC profitability at the moment, many take it as endless gold cart.
6. Financial, human and material resources - most likely present, but most likely not effectively managed and spend with huge overheads. Also with no business plan you never know how the resources must be spent and managed.
7. Organizational structure - there is some form of it and sometimes works well, but definitely could be better.
8. Communication strategy - presents in form of this forum and several TG chats, but maybe cumbersome and ineffective in many cases. Internal and external PR looks weak and ineffective w/o the strategy and proper governance.

With the above being said (although again, I may miss many points or misintepret those), here are some actions I would recommend to re-start the the business at the new level:
1. Put major proxies and investors into public negotiation to define DAC's basis - mission, values and business strategy.
2. Use all means to involve end users and BTS holders so that their support is based on their decision, and is not by default or as void.
3. Make key proxys to publicly announce their position towards DAC's mission and strategy, along with their personal and business information. This is not mandatory for sure, but those who are open and transparent may gain more support.
4. Spend particular resources (via a worker) to develop a straightforward business and marketing plan. Make sure it is based on proper market and competitors evaluation. Ensure support by the majority.
5. Allocate resources to implement the plan, control and elaborate it, report on the progress. Apart from promotion approach and business model this also shall also include efforts for users/clients onboarding and support. 
6. Ensure proper financial control by designated authorized parties, along with timely and clear reporting to the government and the community.
7. Ensure effective resource spending, avoid spare funding overheads. Think ROI.

This is to start from. I trully understand that this approach may be not supported or adopted by the majority of the players (gateways and other businesses on top of Bitshares), many of those are looking for short term benefit and does not care about the ecosystem development. It is most likely not something what most of dev team would appreciate, because this would mean costs cutting for sure. However, all of them could definitely benefit from strong and powerfull Bitshares in the future.

I call to the investors, it is time for you to shout!

Thanks for reading to this point :D
  • This plan is not workable. It works only in centralized companies。Ronald H. Coase said, why do authoritarian companies exist in the market? Because it is efficient.
  • The Dpos mechanism is like the democracy of ancient Greece. It's childish.Dpos did not achieve its goals

I'll have to agree with 1) and 2) but with notice that 2) was because of the people not DPOS structure itself.
Agree,Your point of view reminds me of a book: Democracy in America

53
Stakeholder Proposals / Re: Proxy: bitshares-vision
« on: August 30, 2019, 08:09:01 am »
Hello, I would like to thank @ioBanker very much for raising this matter and everybody who contributes to the discussion!

Athough I share most of the ideas highlighted by @ioBanker above, I am more crytical towards current situation of the community and do believe Bitshares are in deep crysis that may easily finish with the ecosystem's marginalization and stagnation, moving price of the core currency down.
IMHO the root cause of the problem is lack of leadership and vision. The founder has left the project in the early stage and there is noone who effectively replace him. Decentralized governance so far is not being effective enough to cope with the current challenges and drive the DAC towards success and mass adoption. The original idea and vision has never neen revised and most likely are not shared by most of the stakeholders at the moment. The fact that several people are expressing similar opinions at the same time, and major stakeholders undertake immediate and rough actions to change the trend, shows that it is time for major actions to address system issue that we have. I strongly believe this is not a subject for just, minor correction.

I would like to put here a copy of my post in the other thread, I do believe it is totally relevant for this discussion. Sorry for the long read.


Let me express my humble opinion on the current Bitshares status and possible future development, based on my deep understanding of Bitshares as well as common business rules, marketing and analisys of other blockchain ecosystem. I may be missing some parts of the full picture because I'm not involved in some of the core activities and not being part of the governance team, however I believe I express more or less independent opinion and can think out of the box.

In few words, there is no difference between DAC and a typical company (there are some slight ones, but generally those are not game changers), and therefore a DAC MUST follow same rules to win the business and increale its value, namely:
1. Have a clear governance and ownership structure, with effective internal communication and decision making means.
2. Have a clear mission and values adopted by the management. Those to be put as corner stones under the marketing and business strategy.
3. Have a clear marketing and business strategy - what is the business, its short and long term goals, who are the target customers, what is the value proposition, how do we position our company on the market and compete with other companies - etc, etc.
4. Have a clear legal structure and follow the regulation of the operating markets.
5. Have a clear and effective financial managment, to control revenues, costs and investments.
6. Have all resources (financial, human, material) that are required to implement the business plan.
7. Have a clear and effective organizational structure so that company management and emplyees could collaborate effectively and know who is responsible for what.
8. Have a clear communication strategy to integrate the efforts and report on results.

This is the basis and 99% of you know this is a paramount for any successfull business.

SO WHY BITSHARES IS GOING THE OTHER WAY?!
WHY THE HELL DO YOU THINK THIS DAC WOULD BE A SUCCESS IF IT DOES NOT FOLLOW BASIC BUSINESS RULES?!

Let's look at the points above in more details.

1. Governance and ownership structure: although this is the backbone of DPOS consensus, it definitely could be better. Generally, we have 4 levels of governance:
- investors (aka BTS holders). Many of those have no idea how Bitshares is governed, to whom they proxy their voting power and don't participate the DAC governance in any way.
- proxys, actually key decision makers in the ecosystem. Most likely do not share any common vision, often acting only in own interest and are not actively supported by investors (e.g. historically have many stakes from referrals or hold a CEX account).
- committee. Although being publicly elected and are in control of key network settings, they have low power when it comes to business decisions, again not sharing same vision and in many cases care more about their own business (although inmany cases aligned with the DAC).
- witnesses, mostly providing technical resources for the network to operate, but sometimes can implement some power, i.e. when it comes to price feeds. Probably the best part of the governance model, working as  it should be.
2. Mission and values adopted by the management. As mentioned before, there are different opinions on that matter, and this is OK. However, the government MUST work out some statements supported by the majority and use those to define the strategy. Othervise the backbone is missing and the body is vulnerable and weak.
3. Marketing and business strategy - again, no consensus on that matter. Many people express their opinions because they have their vision and care but nothing formulated and agreed upon by the majority. Having weak plan is better than having no plan, but we don't have even a weak one. Key questions - what is the value Bithsares brings, is it for individuals or businesses, how do we reach them, what is the message we send.
4. Legal structure - although BBF is a good step, it is definitely not enough. Legal status and regulations applied are not defined. This prevents business from adoption and buy-in and makes Bitshares a very risky investment.
5. Financial managment - there is some form of it, but having every single penny recorded in the ledger, must be more formal and detaled, also support the business strategy. Noone is in charge of the DAC profitability at the moment, many take it as endless gold cart.
6. Financial, human and material resources - most likely present, but most likely not effectively managed and spend with huge overheads. Also with no business plan you never know how the resources must be spent and managed.
7. Organizational structure - there is some form of it and sometimes works well, but definitely could be better.
8. Communication strategy - presents in form of this forum and several TG chats, but maybe cumbersome and ineffective in many cases. Internal and external PR looks weak and ineffective w/o the strategy and proper governance.

With the above being said (although again, I may miss many points or misintepret those), here are some actions I would recommend to re-start the the business at the new level:
1. Put major proxies and investors into public negotiation to define DAC's basis - mission, values and business strategy.
2. Use all means to involve end users and BTS holders so that their support is based on their decision, and is not by default or as void.
3. Make key proxys to publicly announce their position towards DAC's mission and strategy, along with their personal and business information. This is not mandatory for sure, but those who are open and transparent may gain more support.
4. Spend particular resources (via a worker) to develop a straightforward business and marketing plan. Make sure it is based on proper market and competitors evaluation. Ensure support by the majority.
5. Allocate resources to implement the plan, control and elaborate it, report on the progress. Apart from promotion approach and business model this also shall also include efforts for users/clients onboarding and support. 
6. Ensure proper financial control by designated authorized parties, along with timely and clear reporting to the government and the community.
7. Ensure effective resource spending, avoid spare funding overheads. Think ROI.

This is to start from. I trully understand that this approach may be not supported or adopted by the majority of the players (gateways and other businesses on top of Bitshares), many of those are looking for short term benefit and does not care about the ecosystem development. It is most likely not something what most of dev team would appreciate, because this would mean costs cutting for sure. However, all of them could definitely benefit from strong and powerfull Bitshares in the future.

I call to the investors, it is time for you to shout!

Thanks for reading to this point :D
  • This plan is not workable. It works only in centralized companies。Ronald H. Coase said, why do authoritarian companies exist in the market? Because it is efficient.
  • The Dpos mechanism is like the democracy of ancient Greece. It's childish.Dpos did not achieve its goals

54
中文 (Chinese) / Re: cn-vote投票公示
« on: August 27, 2019, 10:05:40 am »
本人票仓已全部代理至cn-vote,尽微薄之力
多谢

55
中文 (Chinese) / Re: cn-vote投票公示
« on: August 27, 2019, 01:40:38 am »
Request for votes for the Terradacs witness.

https://bitsharestalk.org/index.php?topic=28326.msg334199#msg334199

We are requesting the cn-voter upvote for the Terradacs witness on the BitShares blockchain. This witness is from the Terradacs Ltd. team which is a Maltese company which developed software that allowed the BLCA (BEOS Lmited Cooperative Association) to launch and operate, under license, the BEOS blockchain. The BEOS blockchain is a "middle chain" between bitshares and the EOS world. It is meant to make the advantages of each system available to each other and to bring value to both. The BLCA sharedropped 100% of BEOS tokens not reserved for non-profit development and support of the blockchain on participating bitshares holders under the now completed distribution called "RAINfall". The BLCA is continuing a distribution of "MANNA" tokens for 888 days to participating bitshares and BEOS token holders under the program called "SKYfall".
https://beos.world

Specs for the Terradacs witness (which was voted in temporarily for a couple of days and was supplying a full  range of price feeds and did not miss any blocks):

Ubuntu Linux 19.04
Processor information Intel(R) Core(TM) i7-7700 CPU @ 3.60GHz, 8 cores 64 GB RAMNVMe 500 GB storage
same specs for backup
Pricefeeds based on zappatas script but tweaked to our preferences


Any response for this request?
Sorry,some one will reply

56
中文 (Chinese) / Re: 一个基于GDEX.BTC抵押的智能货币?
« on: August 26, 2019, 10:16:40 am »
好处:
1.BTC市值远大于BTS,供应量潜力大。
2.BTC可以抵押借款,可以吸引BTC入金。活跃交易。

问题:
1.GDEX.BTC不是原生货币,需要GDEX背书。
2.是否真能吸引用户存疑。

Thoughts?
让市场决定吧,类似做法像usdt

57
中文 (Chinese) / Re: 关于bitasset的一篮子资产锚定
« on: August 26, 2019, 04:52:18 am »
同意这个想法,但是不能用uia资产作为抵押品,mpa被定义为去信任的资产。如果能实现btc,eth……作为抵押品的话,前景不错.  我想有以下前置条件:     

  • btc能够通过原子交换进入bts.
  • 使用btc和bts等一篮子资产抵押出智能货币。
  • 能够喂价


58
中文 (Chinese) / Re: cn-vote投票公示
« on: August 23, 2019, 09:42:58 am »
Request for votes for the Terradacs witness.

https://bitsharestalk.org/index.php?topic=28326.msg334199#msg334199

We are requesting the cn-voter upvote for the Terradacs witness on the BitShares blockchain. This witness is from the Terradacs Ltd. team which is a Maltese company which developed software that allowed the BLCA (BEOS Lmited Cooperative Association) to launch and operate, under license, the BEOS blockchain. The BEOS blockchain is a "middle chain" between bitshares and the EOS world. It is meant to make the advantages of each system available to each other and to bring value to both. The BLCA sharedropped 100% of BEOS tokens not reserved for non-profit development and support of the blockchain on participating bitshares holders under the now completed distribution called "RAINfall". The BLCA is continuing a distribution of "MANNA" tokens for 888 days to participating bitshares and BEOS token holders under the program called "SKYfall".
https://beos.world

Specs for the Terradacs witness (which was voted in temporarily for a couple of days and was supplying a full  range of price feeds and did not miss any blocks):

Ubuntu Linux 19.04
Processor information Intel(R) Core(TM) i7-7700 CPU @ 3.60GHz, 8 cores 64 GB RAMNVMe 500 GB storage
same specs for backup
Pricefeeds based on zappatas script but tweaked to our preferences
Somebody else will reply to you. I've quit.

59
中文 (Chinese) / Re: cn-vote投票公示
« on: August 23, 2019, 09:39:44 am »
声明:教授,finn退出多签账户,递补雨卦,键盘敲很轻进入多签。

60
BTS is already a disaster to investors, if we continue inflation and selling BTS without limitation to get funds, the disaster will continue.

Can you underline that statement with actual statistics and numbers on how much weight the daily worker payout carries in the daily volume and volatility of BTS? If not, maybe we should crunch some numbers now?
In the long term, inflation is there. In the short term, the worker's sell order has no effect on the price.

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