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Messages - pc

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1426
General Discussion / Re: IMPORTANT: BTS Merger (Poll)
« on: October 21, 2014, 10:29:58 am »
It is merger and acquisition.

Nothing is merged or acquired:

3) Capital infusion to fund marketing efforts is solved by allowing for a majority vote of BTS holders to vote to create and sell shares for funding purposes

IOW: throw on the printing press and spend the resulting notes on marketing. That's pump&dump par excellence.

3) Capital infusion to fund marketing efforts is solved by allowing for a majority vote of BTS holders to vote to create and sell shares for funding purposes

That only means it would be a majority-approved pump&dump.

The problem here is that the (market) value of the DAC is not so much driven by the services it offers, but by marketing. It is easy to convince a majority with the promise of a tenfold increase in market value in combination with e. g. 10% dilution. In the long run this will destroy the DAC, though, because there is no substance in it for supporting the (temporarily) higher market value.

1427
General Discussion / Re: IMPORTANT: BTS Merger (Poll)
« on: October 21, 2014, 09:32:23 am »
It is merger and acquisition.

Nothing is merged or acquired:

3) Capital infusion to fund marketing efforts is solved by allowing for a majority vote of BTS holders to vote to create and sell shares for funding purposes

IOW: throw on the printing press and spend the resulting notes on marketing. That's pump&dump par excellence.

1429
The mere  presence of this thread is proof that you know exactly that this share dilution proposal is a bad thing, and you just want to cover up that fact.

It is share dilution, so just call it what it is.

1430
General Discussion / Re: Non-Dillutable BTSX
« on: October 20, 2014, 07:27:58 am »
Guys I realize the idea of dilution is kinda scary at first sight, but once you think it through and approach it from the right context, which is the COMPANY, then it makes perfect sense.

Imagine 2 facebooks competing for world social media domination. One of them can issue shares to acquire other startups such as Whatsapp and Oculus, and also issue shares to VC companies that help them kickstart growth. The other has a fixed amount of shares because shareholders dont want to be diluted.

Which company would you rather be a shareholder in? Would you even consider investing in a facebook that could not issue new shares in situations where it would be beneficial? Taking over world finance isn't that much different than taking over world social media, because of the massive network effect involved. Share issuance is an absolute must in the competition we are about to see ramp up, and we are the first DAC that will actually manage to implement it. We will not even have a real competitior until a different blockchains realizes that share issuance is basically a requirement to be competitive.

The way I look at it, if the value of each of my shares is going up due to an infusion of new capital/talent/customers/whatever, then what do I care if there are a few more of those valuable shares?  The new shares represent the new value received plus a bunch more to share with current shareholders making their shares more valuable too.

Infusions are only done when their is more gain than pain.
Infusions are only done when shareholders believe there is more gain than pain.
Infusions are done when enough shareholders are talked into believing there will be more gain than pain.


1431
The fund would not be simple address from which funds could be spent using a private key.

I think the fund would be more like a global counter that is updated in every block according to strict rules. If someone tried to violate the rules by paying out funds to themselves, other delegates would notice and reject that block.

Like a coinbase transaction in bitcoin? Presumably, then lost funds would simply be 'burned' to be in line with the 'created from nothing' aspect of a coinbase transaction?
Similar, yes. Except that a winning payout would not be 'created from nothing' - instead of having input txs it would deduct the sum from the global counter.

1432
The fund would not be simple address from which funds could be spent using a private key.

I think the fund would be more like a global counter that is updated in every block according to strict rules. If someone tried to violate the rules by paying out funds to themselves, other delegates would notice and reject that block.

1433
Since you've credited Memorycoin for using our code I hope to keep the open source model that we have, and believe that we can trust the open-source community, as long as they credit our code for usage (exactly where it's used).

I shall be updating the code on github shortly with the v3 adjustments.
+1

1434
KeyID / Re: A new delegate and some questions :)
« on: October 18, 2014, 07:44:50 am »
Is there another way to follow the software update notifications (apart from reading the forums)?
If you have a github account you can "watch" the project. You'll receive an email when something is updated (more than one email per release version though).

1435
I've been thinking... so far, I can't see any positive reactions to your announcement. OTOH several people have criticized your decision to go closed source.

Now, you're planning a hardfork. A fork has more than one prong, though. It may well happen that Memorycoin-2 retains the majority of its current users and the Memorycoin-3 fork is largely ignored. What's your plan B for that?

1436
KeyID / Re: KeyID v0.0.4 HOTFIX - init delegates voted back in
« on: October 14, 2014, 06:45:39 pm »
Finally finished to rebuilid my linux packages http://software.opensuse.org/download.html?project=home%3Ap_conrad%3Abts&package=KeyID

Delegates updated:

delegate1-cyrano (1%)
delegate0-cyrano (0%)
 

1437
KeyID / Re: Proposal to enhance delegate pay/subsidy mechanic
« on: October 13, 2014, 07:17:29 am »
If I understand correctly, subsidy_rate + subsidy_burn_rate should be always equal to 100, right?  But it seems not, then in which case, it will be < 100? Let's say subsidy_rate is 50%, subsidy_burn_rate is 20%, then where does the rest 30% go?

The rest is saved for the future.

1438
delegate1-cyrano (1%)
delegate0-cyrano (0%)

81.7.11.13 (located in germany)

1439
General Discussion / Re: TimeBank DAC
« on: October 12, 2014, 08:57:31 pm »
Would you actually prefer that they not distribute, for the sake of saving face in your so-called "adult business world?"

Interesting question. One might hope that clones that do not honour social consensus die quicker than those that do.

1440
General Discussion / Re: TimeBank DAC
« on: October 11, 2014, 12:23:50 pm »
it's an empty and absurd rebranding of bitshares with no motivation (other than whaling shitshares). We should not endorse this, we will look silly.
+1

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