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BitShares PTS / Re: PTS upgrade poll
« on: August 02, 2014, 08:21:38 pm »On the remaining supply question, there are basically 3 positions:
1) Cut the supply at current values.
2) Use remaining supply to pay delegates // developers // for promotion.
3) Use remaining supply to keep virtual mining subsidized.
Option 2 sounds most logical.
Pools are quickly dropping support for PTS so something needs to be done or well end up in BTC world with a pool having >51%. Miner development has come to a standstill also.
The current supply of PTS is 1,655,659 PTS. What CLains option #2 is proposing is an overnight inflation and giveaway of an additional 344341 coins - over 17% of the resulting 2 million shares. I cannot overemphasize what a disaster this would be in terms of public perception. It would be like a new coin "post-mining" 17% of the supply and giving it to the developers. Can you imagine the backlash? "Bitshares devs steal 17% of coin supply overnight" and "Invictus Central Bank creates and confiscates coins out of thin air". If you've been around for any time at all you remember the scam allegations that were thrown around when AGS was announced. We have failed miserably at anticipating and planning for public perception - something that I have a bit of experience in. I will tell you with 100% certainty that if you do this (option #2 in CLain's comment), any benefits you gain from marketing/promotion would be dwarfed by the damage you cause in public perception. That's my advice - proceed at your own risk.