10% dilution = 650,000 BTS a day

[jsidhu]

There is a deflationary proposal to solve the funding issue as opposed to the inflationary one (capital diffusion vs capital infusion)... https://bitsharestalk.org/index.php?topic=10385.new#new

[Stan]

2 billion bts * (1+20%) = 2.4 billion. 2.4 billion * 10% / 365 = 657,534 bts

That makes about 650,000 bts a day. To me, this has much much bigger impact than PTS, AGS, DNS merge.

Well, btc currently has about 10% dilution but it's also decreasing along the time.

If we have to pay high to delegates at the moment, at least we should decrease the rate along the time.

Now this is very interesting. Could somebody please explain what exactly delegates are able to do. They will be able to "print shares".

 

Dilution will only EVER be given to delegates that are profitable. If 650000 BTS is diluted each day, that means we are making back even more than that. The only risk is that the DAC fails to provide a framework that is transparent enough to allow stakeholders to accurately determine whether a delegate is profitable or not, or that the voting culture becomes corrupted by politics and delegate looting becomes possible.

How is this going to work exactly. Could somebody please explain assuming I have hear it for the first time.

I guess there still isn't really a full understanding of how exactly it will play out, but here's what I think:

Every employee of bitshares will be a delegate. That includes BM, Stan, toast, hopefully Brian and anyone else that is paid a salary by us shareholders. They all have a set pay rate for their delegate, and when they first apply to become a delegate, we shareholders vote them in if we think their salary is fair vs their contribution. We will have some common framework for transparency, I imagine it's gonna be something like they have to make a report of their work each week. Kinda like the current bbx hangouts, but for every employee individually and with a lot more detail. Shareholders can then vote for or against the delegates they like, and if someone uncovers any evidence of a delegate not doing their job properly, they can mount a campaign to get them thrown out.

oh jesus, here goes the simplicity!

Ah, but we are so close to being completely decentralized with no single point of failure!

Lots of independent smart people surrounding BM can step up keep the ball rolling if he decides to go fishing.

I3 is scaffolding that could be dismantled if necessary with almost no impact at all.

BitShares is now an autonomous sovereign company that can hire people and be responsive to its owners. 

Its arrived folks!  Exactly one year after the first block was poured.

"Second star on the right and straight on till morning... engage."

[bytemaster]

We want transparency, but here is the bottom line for developers:  they are almost always worth their salary in the amount of value they can produce in a year.

[Shentist]

2 billion bts * (1+20%) = 2.4 billion. 2.4 billion * 10% / 365 = 657,534 bts

That makes about 650,000 bts a day. To me, this has much much bigger impact than PTS, AGS, DNS merge.

Well, btc currently has about 10% dilution but it's also decreasing along the time.

If we have to pay high to delegates at the moment, at least we should decrease the rate along the time.

Now this is very interesting. Could somebody please explain what exactly delegates are able to do. They will be able to "print shares".

 

Dilution will only EVER be given to delegates that are profitable. If 650000 BTS is diluted each day, that means we are making back even more than that. The only risk is that the DAC fails to provide a framework that is transparent enough to allow stakeholders to accurately determine whether a delegate is profitable or not, or that the voting culture becomes corrupted by politics and delegate looting becomes possible.

How is this going to work exactly. Could somebody please explain assuming I have hear it for the first time.

I guess there still isn't really a full understanding of how exactly it will play out, but here's what I think:

Every employee of bitshares will be a delegate. That includes BM, Stan, toast, hopefully Brian and anyone else that is paid a salary by us shareholders. They all have a set pay rate for their delegate, and when they first apply to become a delegate, we shareholders vote them in if we think their salary is fair vs their contribution. We will have some common framework for transparency, I imagine it's gonna be something like they have to make a report of their work each week. Kinda like the current bbx hangouts, but for every employee individually and with a lot more detail. Shareholders can then vote for or against the delegates they like, and if someone uncovers any evidence of a delegate not doing their job properly, they can mount a campaign to get them thrown out.

oh jesus, here goes the simplicity!

[Rune]

2 billion bts * (1+20%) = 2.4 billion. 2.4 billion * 10% / 365 = 657,534 bts

That makes about 650,000 bts a day. To me, this has much much bigger impact than PTS, AGS, DNS merge.

Well, btc currently has about 10% dilution but it's also decreasing along the time.

If we have to pay high to delegates at the moment, at least we should decrease the rate along the time.

Now this is very interesting. Could somebody please explain what exactly delegates are able to do. They will be able to "print shares".

 

Dilution will only EVER be given to delegates that are profitable. If 650000 BTS is diluted each day, that means we are making back even more than that. The only risk is that the DAC fails to provide a framework that is transparent enough to allow stakeholders to accurately determine whether a delegate is profitable or not, or that the voting culture becomes corrupted by politics and delegate looting becomes possible.

How is this going to work exactly. Could somebody please explain assuming I have hear it for the first time.

I guess there still isn't really a full understanding of how exactly it will play out, but here's what I think:

Every employee of bitshares will be a delegate. That includes BM, Stan, toast, hopefully Brian and anyone else that is paid a salary by us shareholders. They all have a set pay rate for their delegate, and when they first apply to become a delegate, we shareholders vote them in if we think their salary is fair vs their contribution. We will have some common framework for transparency, I imagine it's gonna be something like they have to make a report of their work each week. Kinda like the current bbx hangouts, but for every employee individually and with a lot more detail. Shareholders can then vote for or against the delegates they like, and if someone uncovers any evidence of a delegate not doing their job properly, they can mount a campaign to get them thrown out.

[Shentist]

is here something offical posted?

we are going in a merged BTS chain and no one knows the issuing mechanism? great!

[bytemaster]

Devs need to a roadmap out stat explaining the dilution mechanism.

Could spiral into a PR problem very quickly.

We are working on this

[oldman]

Devs need to a roadmap out stat explaining the dilution mechanism.

Could spiral into a PR problem very quickly.

[Geneko]

2 billion bts * (1+20%) = 2.4 billion. 2.4 billion * 10% / 365 = 657,534 bts

That makes about 650,000 bts a day. To me, this has much much bigger impact than PTS, AGS, DNS merge.

Well, btc currently has about 10% dilution but it's also decreasing along the time.

If we have to pay high to delegates at the moment, at least we should decrease the rate along the time.

Now this is very interesting. Could somebody please explain what exactly delegates are able to do. They will be able to "print shares".

 

Dilution will only EVER be given to delegates that are profitable. If 650000 BTS is diluted each day, that means we are making back even more than that. The only risk is that the DAC fails to provide a framework that is transparent enough to allow stakeholders to accurately determine whether a delegate is profitable or not, or that the voting culture becomes corrupted by politics and delegate looting becomes possible.

How is this going to work exactly. Could somebody please explain assuming I have hear it for the first time.

[zhangweis]

It is 2/0.8=2,5

I'm wrong. It should be 2.5 billion.

[jsidhu]

It is 2/0.8=2,5

Maybe I'm wrong. What I understand is that 1 BTSX = 1 BTS. I need to check it somewhere.
I think 1:1 will make life easier for exchange and most BTSX holders.

you are right... but there is 20% more BTS now.. supply is not 2 billion with the proposal.

[Geneko]

2 billion bts * (1+20%) = 2.4 billion. 2.4 billion * 10% / 365 = 657,534 bts

Waitaminute, isn't the new share supply from the merger 2.5 billion, not 2.4 billion? Am I missing something here?

It should be 2.5 billion.


It is important to realize that while the share count is going up, so is the value.

BTS will have more shares than BTSX, but it also contains the features of DNS, VOTE, etc, and will be the primary chain to be snapshotted for any future DAC spinoffs, which currently go to PTS/AGS.

It is 2/0.8=2,5

[Rune]

Dilution will only EVER be given to delegates that are profitable. If 650000 BTS is diluted each day, that means we are making back even more than that. The only risk is that the DAC fails to provide a framework that is transparent enough to allow stakeholders to accurately determine whether a delegate is profitable or not, or that the voting culture becomes corrupted by politics and delegate looting becomes possible.

[Ander]

2 billion bts * (1+20%) = 2.4 billion. 2.4 billion * 10% / 365 = 657,534 bts

Waitaminute, isn't the new share supply from the merger 2.5 billion, not 2.4 billion? Am I missing something here?

It should be 2.5 billion.


It is important to realize that while the share count is going up, so is the value.

BTS will have more shares than BTSX, but it also contains the features of DNS, VOTE, etc, and will be the primary chain to be snapshotted for any future DAC spinoffs, which currently go to PTS/AGS.

[nomoreheroes7]

2 billion bts * (1+20%) = 2.4 billion. 2.4 billion * 10% / 365 = 657,534 bts

Waitaminute, isn't the new share supply from the merger 2.5 billion, not 2.4 billion? Am I missing something here?