Proposal to Resolve a Million Issues at Once

[天籁]

 

[520Bit]

3) We want to have 1 BitUSD for everything rather than many different BitUSDs

As a community effort we are stronger if we can agree on changes using proof of stake and we should agree once and for all that the majority will rule here.   

My Proposal:

2) End PTS...  BitShares will evolve to incorporate every possible feature that stakeholders vote on.

I love your above two proposals. Change to POS and end PTS.

POS is such a great consensus which PPC has been running for more than two years. I am an AGS investor, I can't sell or transfer my AGS, while PTS investors sell PTS or transfer it anywhere and anytime, I feel a little unfair. I am so upset.

And 1 BitUSD for everything is a correct decision. As you know nubits project, 1 NBT = 1 USD always, this is enough for application.

[testz]

I like idea of AGS/PTS and agree that AGS and PTS shareholders was driven by different unique idea and we should keep them in the system with social consensus for new DACs.

What if, we will make final PTS snapshot combine it with AGS to BitShares Genesis asset and propose hard fork to make this asset liquid - let's shareholders decide it using new voting scheme proposed by bytemaster (https://bitsharestalk.org/index.php?topic=10150)?
This will violate any laws about AGS as securities if shareholders decide and I3 will vote as "Accept Majority"?

[gamey]

Is the main problem is that BTSX suddenly needs money? We were told that as value increases money will always be there, and BTSX value has gone up 5-6x since launch. Maybe they shouldn't have used AGS money to pump invest in BTSX in the first place.

THe problem is all the volatility.  We were operating with BTC, now we are operating with BTSX.  BTSX has been going down.  What is the right move ?  It isn't they suddenly need money, it is that the marketcap has slowly been decreasing along with everyone else.  So...... you change plans before you go bust.

It isn't just Bitshares who has this problem.  Look at Ethereum etc when BTC tanked. 

This will all come to down to proper management if inflation is to succeed.  It will also come down to faith in the management. 

[gamey]

Its a good idea，but i cant agree with the dilution of BTSX。it may causes bad result，change idea again and again，people will not believe in you anymore。

Some faith will be lost, but will increased funding overcome that ?   

That is the question.

It all depends on how the funding is spent.  Nothing more IMO.

[Ander]

When the BTSX price is down to 2 cents tomorrow because "dilution" rumors, maybe you should use some more of the funds to support the price.

[youlonghun]

Its a good idea，but i cant agree with the dilution of BTSX。it may causes bad result，change idea again and again，people will not believe in you anymore。

[eagleeye]

I agree with gamey and happybit.

As bytemaster has said in https://bitsharestalk.org/index.php?topic=10150.0  Only 26% out of 51% of votes have to disagree and this loses.  As 75% of 51% voting need to agree to destroying bitshares PTS

[sumantso]

Is the main problem is that BTSX suddenly needs money? We were told that as value increases money will always be there, and BTSX value has gone up 5-6x since launch. Maybe they shouldn't have used AGS money to pump invest in BTSX in the first place.

Instead of all these inflating/merging/competing etc just try and increase the value of BTSX itself by improving it and, more importantly, marketing it. We have been hearing since January how awesome the marketing will be, and that we will be blown away by what is in store, and yet there is nothing.

Even a rudimentary Bitcointalk presence would've helped. Is Brian in charge of all this? I will contact a few people there and see if they can have any proposal on the cheap. It probably takes a couple of BTCs to put up ads there, you wouldn't even notice that bloody amount. If you had done it better there would've been a lot more AGS funds, just look at Ethereum.

Even now Note pre-sale is on and does anybody outside this bubble forum know that?

[Ander]

If this is going to be the plan, we should have some sort of press release explaining it to the world.

I think emphasis should be put on "merger" of btsx/ags/pts/etc in order to simplify things, rather than on "dilution".

[gamey]

Yes I especially like the idea of bringing BitShares under one banner and bootstrapping one main BitUSD to the world. (Before someone else does.) Let's do it! https://m.youtube.com/watch?v=fsujXw267XQ

There was always going to be one main bitUSD.  This doesn't mean that DACs won't utilize their own bitUSD to facilitate trading/remove volatility, it is just that the VOTE DAC won't be so cool.  Cool functionality will likely go back to KeyID which can self-fund. 

[Ander]

And of course...the price is tanking even harder now.

[codinat]

 

[happybit]

Hello everyone, I'm a newbie here... though I have been into bitcoin for about 3 years... I am one of those 6-12 hours per day nut jobs, totally addicted to all this!

The past 4-5 days I have researched, discussed and thought about Bitshare alot! -- just when I thought I "got it"  I stumble on this thread.

If I may give you an "outsider's" perspective:

a) if I'm not mistaken, when you talk about "dilution" you are talking about increasing the number of BTSX (rebranded to BTS), if yes, then i have to quote one of your forum sr. members who used the word "DECEITFUL" when describing Ripple for increasing their XRP units, and jumping forward in marketcap because they haven't yet released all the new ripples while the simple unit multiplier distorts the chart
https://bitsharestalk.org/index.php?topic=10095.msg131987#msg131987

b) I finally got around to understanding, and liking, the initial idea and reasons behind PTS and later AGS... I was also liking the idea that these DAC's/coins would continue 'living' to provide an onramp to new DAC share distribution to people in the know.  Kind of forming a symbiotic relationship between those who quickly distribute a bunch of new shares, and the PTS holders generally being an agreeable bunch would hold on to them to give new projects a chance to get going. 

c) while starting to discuss many of my positive findings about Bitshares with friends, one strongly advised me to keep away because of "all the hard forks they have all the time"

d) I started buying BTSX even as the price dropped.  Generally, I felt bad obviously after each purchase as I would see the price drop a little more (in the past 4-5 days)... but then I would get a boost after reading posts here, and especially after listening to the Oct 17 hangout!     [I don't feel so positive now, and it is not because of price drops]

there may be a few more things i could list... but I want to keep it short, and PROPOSE some ideas for a. b. c. and d. [i don't expect a response/praise and definitely no attacks, since I understand that I may completely misunderstand everything you are discussing here, so here are my newbie proposals:


A) Please do not "seem" deceitful, keep BTSX as is, do not fork or raise the limit on the total number of BTSX, I do not know what the "market" will do, I for one would wait before investing any more, and would definitely become very skeptical of such major changes in the rules.

B) Keep PTS/AGS running, I don't see why they cause you much headache, they have a life of their own, a clear purpose/mission, you really don't have to do anything with them.  I see a huge MARKETING benefit, and to make sure I know what I am trying to say, I even downloaded the PTS wallet to confirm, it is BEAUTIFUL!  I love the familiar QT interface!  And as DONKEYPONG said " one benefit of having PTS out on its own is that it theoretically reaches more people"... one of those people was ME    it didn't reach my pocket, but it really got me thinking, and I may still buy some, especially if you do what I suggested in a more detailed post before:

 https://bitsharestalk.org/index.php?topic=9548.msg130847#msg130847  but this is not so important.

C) OK, all the "forks" that occur, I still don't understand.   They are probably minor compared to what you are proposing here.  If you change the total BTSX or completely abandon it and start BTS... that would really make me feel bad.  I have told my friends (as I believe you have described Bitshares) BTSX is one DAC that is build on the IDEA of Bitshares, it is not a "property" of Bitshares.  I like that, with this proposal you seem to want to changed that, and make Bitshares be one specific thing.  I liked it as it was before quite a lot!

D) I will deal with my own feelings! I WISH YOU GOOD LUCK! Please get some rest, you seem overworked!    I will keep following all your developments, you are obviously one of the "good guys"   

Cheers

[gamey]

Previously we had all those weird Bitshares X,Y,Z's planned out as competitors to Bitshares X.  It was a headache and vague for even those of us who were familiar with the ecosystem.  So that was all dropped.

So we are taking it to the next step and dropping the X and adding inflation of the money supply. 

It will at least insure competitiveness but will also increase distrust.   

This distrust will likely lead to an increased request for transparency...