Author Topic: Proposal to resolve single (BIG) issue with dillution  (Read 6804 times)

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Offline emski

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I still don't get why we can't have a single DPoS+TITAN standalone coin. We see useless coins claiming some half-baked feature high on the market cap; and this one would actually be a well distributed coin with two excellent features - in the areas of anonymity and low cost maintenance - and would have a sort dividend being paid out at random intervals.

If necessary just snapshot PTS and AGS and make the equivalent of Bitshares Me which will also support cheap user issued assets (like NXT but with cooler features and dividend payout).

That is the proposal. Just the BTSX (GENESIS) issued from PTS/AGS snapshots are non-dillutable.

sumantso

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I still don't get why we can't have a single DPoS+TITAN standalone coin. We see useless coins claiming some half-baked feature high on the market cap; and this one would actually be a well distributed coin with two excellent features - in the areas of anonymity and low cost maintenance - and would have a sort dividend being paid out at random intervals.

If necessary just snapshot PTS and AGS and make the equivalent of Bitshares Me which will also support cheap user issued assets (like NXT but with cooler features and dividend payout).


Offline joele

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I like your proposal except include BTSX in the snapshot.
If BTSX included then the price of GENESIS will become almost worthless.
Remember GENESIS is non-dillutable and AGS and PTS were meant to get 10% each from future DACs. This is accomplished. Regular BTSX is a subject for dillution. Its price should be lower. And here is the beauty -> you dont care for whining crowds that argue about dillution -> If anyone wants NOT to be diluted then he/she should buy GENESIS.

Yes, but the price of PTS will reduce to 85% (1/5 btsx value) there will be a major dumping before the snapshot.

Offline emski

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I like your proposal except include BTSX in the snapshot.
If BTSX included then the price of GENESIS will become almost worthless.
Remember GENESIS is non-dillutable and AGS and PTS were meant to get 10% each from future DACs. This is accomplished. Regular BTSX is a subject for dillution. Its price should be lower. And here is the beauty -> you dont care for whining crowds that argue about dillution -> If anyone wants NOT to be diluted then he/she should buy GENESIS.

Offline joele

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I like your proposal except include BTSX in the snapshot.
If BTSX included then the price of GENESIS will become almost worthless.

Offline xeroc

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A lot of people are able to do it. Technically I don't see issues.
Legally on the other hand....
yhea .. that's the big issue here ... and most people would rather see I3 handle all of this instead of acting themselves (me included)

What would it take to make it "easier" for someone to actually DO it?
Can we prepare the necessary (technical) tool? So that someone else can focus on the legal part?

What actually are the legal implications of this?
The legal entity did never receive funds from AGS/PTS ..!?

Offline emski

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Sounds good ..

but ... can you DO it?

A lot of people are able to do it. Technically I don't see issues.
Legally on the other hand....

Offline xeroc

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Sounds good ..

but ... can you DO it?

Offline emski

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This is related to my post in bytemaster's thread .

My proposal:
Kill PTS and AGS with one final snapshot.
Create a non-dillutable bitasset (on BTSX chain), lets call it GENESIS. Genesis should honor AGS and PTS 50/50. GENESIS total amount should be 20% of 2B (20% of total amount of BTSX). So the BTSX blockchain should have ~2Billion BTSX and 400 Mil GENESIS (200 mil allocated to PTS holders and 200 mil allocated to AGS holders).

Future snapshot should honor the new BTSX chain but should include both BTSX and GENESIS shares proportionally. So if a new DAC issues 2.4 Billion shares then each BTSX should get 1 share and each GENESIS also should get 1 non-dillutable share. GENESIS shares should be non-dillutable in any future event and (perhaps) they should not be able to vote on dilution.

I think this represents best the initial purpose and promise for AGS and PTS while still incorporates everything in one chain. It will also solve some dillution controversies nicely -> market will decide. If someone is not happy with dillution then he/she should buy GENESIS.

Thoughts ?

UPDATE: deleted
« Last Edit: October 23, 2014, 06:46:21 pm by emski »