BitShares to become Decentralized Autonomous Community

[Stan]

You can still use your favorite simpler metaphor if you like.  BitShares is (among other things) a community supporting a company that generates currencies.  And the ultimate metric and engine of our success will be the demand the community is able to generate for those currencies.   Most of what you have learned about BitShares still applies.  But there is now much more to learn!

That said, the community metaphor gives us a whole lot more free space in which to maneuver!

[carpet ride]

BitShares to become Decentralized Autonomous Community

We have long used the company metaphor to describe BitShares X as a bank and exchange and thrown around words like shares, dividends, dilution, merger, interest, etc.   I would like to officially strike all such language from the rebranded BitShares (BTS) to be launched because it does not fit with what we are really doing and those words work against us in every way except understanding the economic consequences of various decisions. 

the entire business analogy should not be excluded nor be the exception unless there is a stronger description or metaphor we aren't aware of yet; "it's a business" is our best pitch

edit: Why even be bit"shares" if we plan on leaving the company metaphor in the dust?

[Method-X]

Generally I like what you're saying here BUT I find using a company metaphor the best way to describe what BitShares actually is. What is a company? It's a community. It makes more sense to describe BitShares as an "unmanned company". People actually get excited when I describe it like that. This change might be important for legal reasons, but in my opinion will only further lead to confusion. People are having a REALLY hard time wrapping their head around what this is...

EDIT: I think the term "open source company" sums up what we are quite nicely. BitShares is literally an open source project + monetary incentive.

[luckybit]

I am just waiting for Rune to put the positive spin on the OP... I do believe he can!

I like the gist of it, but would like more information about this:

We have long used the company metaphor to describe BitShares X as a bank and exchange and thrown around words like shares, dividends, dilution, merger, interest, etc.   I would like to officially strike all such language from the rebranded BitShares (BTS) to be launched because it does not fit with what we are really doing and those words work against us in every way except understanding the economic consequences of various decisions. 

This concerns me.

Why? I think what he is trying to say is that we need our own economic language and concepts else we will be put into a box with entities which don't or can't do what we do.

Bitshares is a decentralized application which has functions which make it like a cooperative but it's not a company. So when we define ourselves we should do so carefully so that what we are doing is understood but also in a way so that regulators who don't understand cannot use it as an excuse.

If you want Bitshares to be treated as sovereign then it has to use it's own language. Of course these are my opinions and I think the community would benefit long term from this but I'm interested in knowing why it concerns you.

[Thom]

I am just waiting for Rune to put the positive spin on the OP... I do believe he can!

I like the gist of it, but would like more information about this:

We have long used the company metaphor to describe BitShares X as a bank and exchange and thrown around words like shares, dividends, dilution, merger, interest, etc.   I would like to officially strike all such language from the rebranded BitShares (BTS) to be launched because it does not fit with what we are really doing and those words work against us in every way except understanding the economic consequences of various decisions. 

This concerns me.

[luckybit]

I do see a bit of confusion in your OP given that our rebranded name is still BitShares. The language in your OP says we'll be moving away from the "shares" terminology / metaphor. Would you care to elaborate on this point?

^This

I think those metaphors work pretty well. Honestly I can't think of a better way to explain bitshares.
If we HAVE to move away from them because of something legal then that is fine.

Bitshares is fine. Bitcoin is fine. But if you say Bitcoin is a corporation and Satoshi Nakamoto is the CEO then that could be problematic for Satoshi Nakamoto if regulators were to interpret it literally.

[zerosum]

I am just waiting for Rune to put the positive spin on the OP... I do believe he can!

[Mysto]

I do see a bit of confusion in your OP given that our rebranded name is still BitShares. The language in your OP says we'll be moving away from the "shares" terminology / metaphor. Would you care to elaborate on this point?

^This

I think those metaphors work pretty well. Honestly I can't think of a better way to explain bitshares.
If we HAVE to move away from them because of something legal then that is fine.

[Thom]

BM, I very pleased with your OP,  . It is yet another major shift in the complexion of BitShares and will definitely require much community discussion and a change of how the community views itself.

BitShares to become Decentralized Autonomous Community
...
To this end the funds held by I3 for development will be divided among the core developers who will work together as independent parties to grow the community... People have stated that I have "too much power", ...

I totally get the idea of creating an autonomous "company" and will be interested to see what you mean by
"work together as independent parties".  Sounds a little at odds with itself.

I hope it hasn't escaped your notice that some people want you to be in charge and to make decisions as the leader that you are and that their confidence and willingness to invest in this is based on that.  Having an army of people "in charge" doesn't inspire confidence IMHO.  Hopefully it doesn't turn out that way.  As you've said, decentralization is a tactic, not an end in itself.  Just saying...my 2 cents.

Edit: Real companies have leaders that take charge and make decisions, granted they work with a team but still, there is someone that is accountable and serves to set the agenda and marshal the resources of the organization.

I see no problem:

BitShares to become Decentralized Autonomous Community
People have stated that I have "too much power", but I do not wish to rely of fiat to get things done, but instead on my ability to persuade the community.

I do see a bit of confusion in your OP given that our rebranded name is still BitShares. The language in your OP says we'll be moving away from the "shares" terminology / metaphor. Would you care to elaborate on this point?

[julian1]

PTS miners did work to create and secure our first membership token.   AGS donators have proven their support by giving resources they had to work to earn.   Delegates are continuing to do the work to grow the community and realize our vision.

BitShares are Proof of Work.

Folks that missed PTS and AGS but who instead choose to commit their work-job earnings to purchasing BTS/X and other assets should also be considered to be part of our community, due to voting and also because their stock rises or falls in-line with the delegates' success in enhancing Bitshares value to the world.

We have long used the company metaphor to describe BitShares X as a bank and exchange and thrown around words like shares, dividends, dilution, merger, interest, etc.   I would like to officially strike all such language from the rebranded BitShares (BTS) to be launched because it does not fit with what we are really doing and those words work against

Personally, I became attracted to Bitshares, after spending some time researching bitcoin, because it appeared to take a more sophisticated view of what can be done with blockchain/public ledger  technology - apart from 'just' creating a currency.

The possibilities for hedging/trading/futures/options/smart contracts/documentary proof/aggregated assets etc seemed to be a lot more in tune with what finance/investment folk deal with on a day to day basis.

At the same time, I can see there may be a need to try and avoid any presumption that joining the Bitshares community demonstrates an intention to create a legal relationship, and thus drag in the jurisdiction of regulators etc.

It may also be more appealing to a broader community which I guess is something that the marketers are in the best position to assess.

Anyway, I am very excited to be a part of this experience.

[Ander]

There are leaders and then there are rulers.   I hope the lead the team without ruling the team.

This I totally agree with.

/vote for Bytemaster as leader but not dictator.

[GaltReport]

BitShares to become Decentralized Autonomous Community

...
To this end the funds held by I3 for development will be divided among the core developers who will work together as independent parties to grow the community... People have stated that I have "too much power", ...

I totally get the idea of creating an autonomous "company" and will be interested to see what you mean by
"work together as independent parties".  Sounds a little at odds with itself.

I hope it hasn't escaped your notice that some people want you to be in charge and to make decisions as the leader that you are and that their confidence and willingness to invest in this is based on that.  Having an army of people "in charge" doesn't inspire confidence IMHO.  Hopefully it doesn't turn out that way.  As you've said, decentralization is a tactic, not an end in itself.  Just saying...my 2 cents.

Edit: Real companies have leaders that take charge and make decisions, granted they work with a team but still, there is someone that is accountable and serves to set the agenda and marshal the resources of the organization.

There are leaders and then there are rulers.   I hope the lead the team without ruling the team.

I don't think anyone could justifiably accuse you of ruling over them.  I've never seen anyone have has much patience, take as much input from people and accept and objectively evaluate as much criticism as you.   Nevertheless, I understand the forces at play here, internal as well as external and don't really disagree. 

I Just want you to still be the leader that many of us admire and look to for direction.

[fuzzy]

I am actually comforted...and needed to hear something like this.

[pseudoscops]

I have to ask - was this run through Brian and the marketing team before being announced? What is Brian's view on this if so? I think it's really important for the community to know that it was at least discussed with him first?

Its probably actually coming from Marketing, (and/or Legal). 

I think BM has learned by now not to just randomly post his thoughts on the forum, after what happened last time.

This overall goal was discussed with the team and Adam from Follow My Vote and we are coordinating with Brian to revamp the marketing for the BitShares launch.    Adam is really a huge asset and is helping us a lot.

That's great to know. Do I take from this that Adam is now taking a more active role in the day to day marketing efforts and general marketing direction and that Brian is more focused on selected marketing tasks and the on-ramps?

[Ander]

I also hope it hasn't escaped your notice that some people want you to be in charge and to make decisions as the leader that you are and that their confidence and willingness to invest in this is based on that.  Having an army of people "in charge" doesn't inspire confidence IMHO.  Hopefully it doesn't turn out that way.  As you've said, decentralization is a tactic, not an end in itself.  Just saying...my 2 cents.

I agree.  In Bytemaster we trust.


When we had the whole 'merger' proposal thread a couple weeks back, my reaction was super positive, and the market's reaction was violently negative.
My reaction to this post is more negative.  I dont see how it really helps anything, aside from potentially protecting from legal attacks.  Who knows what the market will do, everyone else is apparently crazy, so maybe BTSX will go up now