http://bitshares.org/bitshares-the-platform (Suggestions for some changes)

[luckybit]

http://bitshares.org/bitshares-the-platform/

I think overall it's well written but there are some very important changes which I thnik should be made.

BitShares takes the whole ecosystem into one DAC friendly free-trade zone with all the services that benefit from network effect already in place.

I suggest we remove "free-trade zone" and replace it with "contract-free zone" or "investor-free zone".  Otherwise you're setting yourself up.

The most critical problem phrase is this: "A built-in venture capital system where you can compete for start-up funds – democratically."

Self-funding system, or any phrase is probably better than to call it a venture capital system.

We should not call it "venture capital". The dictionary defines "venture capital" as :

Venture capital (VC) is financial capital provided to early-stage, high-potential, growth startup companies. The venture capital fund earns money by owning equity in the companies it invests in, which usually have a novel technology or business model in high technology industries, such as biotechnology and IT.

This phrase attracts the SEC. At this point we do not know if the SEC is rational or politically motivated. If the SEC is politically motivated then this phrase leaves an unnecessary future opening for SEC interference. It should be made clear in all future blog posts and articles that investors are barred, banned, excluded, from the ecosystem and that all that can be exchanged are gifts, donations, etc.

If you call it a "venture capital fund" then even if its just a piece of software it doesn't mean regulators are smart enough to understand that. Remove all investors from the ecosystem and there is no possibility of anything being a security. This might take some explaining in some blog posts on gift economics but I think it would be a good time to make those explanations rather than stick with the old metaphors which are problematic even if you desire fundraising capability.