Author Topic: A new currency DAC - the future of Bitshares PTS  (Read 4622 times)

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Offline yellowecho

The Bitshares superDAC has attributes that make it poorly suited for use as a global currency including weak scarcity and suboptimal distribution.

Then it's a good thing that the BitShares superDAC isn't a currency and isn't intended to be used as a currency!  The currency in BitShares is bitUSD (and bitCNY) while BTS is a crypto-equity.  I still fail to see what value your proposed fork brings besides a different distribution model which itself doesn't add value at all.  Don't get me wrong, as a PTS, AGS, and BTSX holder I support getting free stake and would likely benefit from such a fork but this just seems to be muddying the water.

Also, I fail to see what this DAC offers that bitBTC and the like doesn't already.
« Last Edit: October 25, 2014, 09:47:47 pm by yellowecho »
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Offline Empirical1.1

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Yes a separate DPOS crypto-currency is now viable which will surpass Bitcoin but probably pale in comparison to BitShares even in the medium term imo.  I've already pondered this possibility in previous posts and came up with 'ATHENA.'

Quote
ATHENA - The goddess of wisdom, courage, inspiration, civilization, law and justice, mathematics, strength, strategy, the arts, crafts, and skill.

ATHENA is a crypto-money not a crypto-equity.

A Decentralised Autonomous Guardianship (DAG)

A DAG is defined by its initial supply rules and has them enshrined it its constitution - It therefore becomes a digital money that will struggle to be changed even by the majority because it's supply rules are what explicitly defines it. A crypto-money that is built on the principal that it's a well 'money'.

It doesn't have BitAssets to start, just a DPOS chain and wallet. It's very simple to understand for the alt-coin market. It's a digital limited money.

Athena can replace Bitcoin. It has no inflation, it is decentralised, anonymous, fast & even profitable. (However it ceases to be digital money when its supply rules can be changed easily by shareholders, then it is a company not a money.)

Many BTSX holders who like the idea of a digital money may increase their snapshot position in Athena. If Dilution is added to BTSX, more of the digital money crowd will like it. If dilution is added and the sharedrop fails, then definitely they will move to Athena. You may even have in the future customers feeling more comfortable having their BitAssets backed and controlled by ATHENA, a crypto-money vs. BTSX a crypto-equity which is subject to the short term whims of the majority of shareholders. So Athena could add BitAssets too and still function as a a money, DAG, provided shareholders were limited & could only act within the initial supply rules on which Athena was founded. 

Even with more limited resources a good form of money attracts demand and infrastructure around it like gold and even Bitcoin was best at it's job for a while. (However a G(uardian)POS crypto-money that is decentralised, fast, profitable and anonymous is far superior to Bitcoin.)

Also if you are someone that loves mankind and feels human controlled monetary systems often exploit society, even with a gold standard, then you may see the benefit to humanity of trying to create a decentralised, anonymous, fast digital money with no inflation that is founded on the initial rules with an enshrined constitution designed to protect the easily exploited from themselves for as long as possible and who knows perhaps even create something ultimately that does that job better than gold.   

You will probably need to set aside 10-20% of the starting shares and release them over a 5 year period to fund the crypto-currency. After that it should be profitable and popular. Thereby able to self fund as well as attract third party development and infrastructure.

Remember though Vote DAC may allow identification of individual users, so a provable initial distribution crypto-currency competitor will be able to spin off BTS anyway...

 +5% for the initiative. Put me on the list, I'm happy to look at a DPOS crypto-currency investment.

Good luck.
« Last Edit: October 25, 2014, 07:48:45 pm by Empirical1.1 »

Offline fuzzy

Variation, imho, is good and gives those who feel strongly in the minority against the move to the BTS superDAC to have an outlet that willnbring more value to the space.  Freedom...do you smell it in the air?  Damn it smells good...
WhaleShares==DKP; BitShares is our Community! 
ShareBits and WhaleShares = Love :D

Offline biophil

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Your plan for this is featureless DPOS+TITAN, right? A plain and simple fixed-supply store of value? Why not piggyback the network effect of BTS and just issue it as a user-issued asset on BTS? You'd be able to achieve your goals that way without the hassle of a second blockchain.

Edit: What's your dividend plan: are you planning to burn fees, or redistribute them as yield (like the current BitAsset scheme in BTSX)? That could impact whether a UIA on BTS would do the trick for you.
« Last Edit: October 25, 2014, 06:51:36 pm by biophil »
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Offline mimitie

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Offline yoo

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interesting, mark here

i am a web developer maybe provide some help.

Offline freebit

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Offline alphaBar

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Further to this post, the killer app in the crypto-space has always been and will always be one thing: currency. The Bitshares superDAC has attributes that make it poorly suited for use as a global currency including weak scarcity and suboptimal distribution.

Any cryptocurrency hoping to dethrone Bitcoin and ascend to become a global currency must be stable, predictable, fairly distributed, and non-inflationary. If you have any interest in PTS, join me in forking the Bitshares Toolkit and creating a new DPOS version of Bitshares PTS that launches using the November 5th snapshot.

To start the discussion, I'd like to put together a mailing list. Please PM me if you're interested.