I hope new bts will rise 200% after 11.05

[Riverhead]

I3 needs to get the market cap to the point a delegate can take $150k USD/year.

Exactly. Once I can earn a living wage as a delegate I can quit my current job and focus full time on growing BTS. As an IT delegate this would mean developing tools, services, etc. to assist other delegates (VPS images, auto-upgrades, auto-failover, ??), sponsoring development efforts like SVK's block explorer. Hosting how-to technical sessions for anyone that wants to learn how to become/run a delegate.

So much to do once I have the time.

[oldman]

Therefore, at 2 cents per BTS, a max pay delegate gets paid just over $30k USD per year.   
At higher BTS prices its obviously higher. 

At 5-10x current market share price, a paid delegate makes significant money and we can hire develops away from other coins, etc.

At 100x current market share price, a 100% paid deleagte funds a huge marketing campaign, or a whole team of developers.  At that point we would probably have most of our paid delegates not actually be at 100%, but a much lower percentage.  (Which also means that inflation will be a lot lower).

And this is why BitShares will win.

I3 needs to get the market cap to the point a delegate can take $150k USD/year.

This will be the tipping point.

As for the recent drop in market cap... a savvy AGS/PTS investor with substantial BTSX holdings is using the recent course correction (merger etc.) to tank share price.

The extremely low liquidity is easy money for larger market participants.

This is nothing unusual and comes with the territory - use it as an opportunity to accumulate.

BTS is going to be worth billions. Buy, hold, be entertained.

[Ander]

Therefore, at 2 cents per BTS, a max pay delegate gets paid just over $30k USD per year.   
At higher BTS prices its obviously higher. 

At 5-10x current market share price, a paid delegate makes significant money and we can hire develops away from other coins, etc.

At 100x current market share price, a 100% paid deleagte funds a huge marketing campaign, or a whole team of developers.  At that point we would probably have most of our paid delegates not actually be at 100%, but a much lower percentage.  (Which also means that inflation will be a lot lower).

[arhag]

In theory, I can short BitBTC now as I wait for Coinbase to take their sweet time with the BTC buy order (damn slow ACH) so that I can get the exposure to BTSX that I want right now and then later cover the short using BitBTC purchased with real BTC when it finally arrives. However, in practice there isn't enough BitBTC buy demand to actually pull this off.

It is really annoying having to go through BTC to move USD into the BitShares system. Can't wait for proper on-ramps.

[xeroc]

Correct
50bts per round .. not sure but also gets paid when block is missed afaik

[Ander]

Delegates can receive up to 50 new BTS per block *if* their pay rate is 100% and voters approved of them.

I almost have my delegate set up. I registered delegate.methodx about a month ago and set the "pay" to 10%. If I want 100% pay to put toward advertising, can the % be increased? Will the new rules set everyone at 50 BTS per block? Should I register a completely new delegate account and start from 100%?
[/quote]

After the hard fork, register a delegate with 100%.   Until then don't bother registering a delegate because the pay will be set to 3%... you cannot increase the pay rate of a delegate after registration.
[/quote]


Just to clarify:  Each delegate with a 100% pay rate would receive 50 BTS for each block that they created, correct?  Meaning that once every 101 blocks, when their turn came around, they would get paid 50 BTS? 

(Not that they would get 50 BTS for each block that *any* delegate created.  Correct?)

[jsidhu]

Yup I called the bottom so hopefully you didnt sell... I think we head up to around $500 on btc and time will tell on how bts will react.. if we make new highs on bts then we are good... depends on how charts look as btc rises... if bts has a hardt ime rising vs btc then the market is saying we don't have our game straight yet.. need more technology or better marketing etc etc.. but I believe panic sellers personally just gave up similar to speculators giving up during the times when bitcoin crashed down to $3 or $50 after new ATH's.

I wouldn't worry about charts (but thanks for calling the bottom; I bought more!). We know there's a better client, GUI, wallets, and a marketing push on the way. Until then, even a drop like this is really just static.

There shall be fireworks if a 4h close above 0.1160 CNY... if it can sustain price after that then we are good.. until then its a very strong bear and it would be risky to try to long unless you got in under 0.1 or something.

[Mysto]

I aint selling.

lol

[jsidhu]

How does delegate system allow funding development/marketing?

Voters can elect paid delegates who will receive bitshares each block, and can then use them to fund development, fund marketing campaigns, etc.

This was one of the main new things in the changes to Bitshares.

Where do the Bitshares come from?  Do they print new ones out of thin air?  I know there was talk of allowing voters to inflate the supply to their hearts content..

If noone approves of any delegate recieving any funding because they beleive the supply is too high they will simply not vote for any delegate which receives any new bts because they value the supply being static more than than what any of the delegates are publishing themselves for in exchange for their services... That is probably more in line with your thinking because I know that you are stuck on the whole "inflation" thing based on your post.

Economy moves as new technologies are developed (in a distributed manor) creating velocity... that is the goal.. it is a stronger driver of scarcity than anything else... in the long term.

[bytemaster]

How does delegate system allow funding development/marketing?

Voters can elect paid delegates who will receive bitshares each block, and can then use them to fund development, fund marketing campaigns, etc.

This was one of the main new things in the changes to Bitshares.

Where do the Bitshares come from?  Do they print new ones out of thin air?  I know there was talk of allowing voters to inflate the supply to their hearts content..

Delegates can receive up to 50 new BTS per block *if* their pay rate is 100% and voters approved of them.

I almost have my delegate set up. I registered delegate.methodx about a month ago and set the "pay" to 10%. If I want 100% pay to put toward advertising, can the % be increased? Will the new rules set everyone at 50 BTS per block? Should I register a completely new delegate account and start from 100%?

After the hard fork, register a delegate with 100%.   Until then don't bother registering a delegate because the pay will be set to 3%... you cannot increase the pay rate of a delegate after registration.

[Method-X]

How does delegate system allow funding development/marketing?

Voters can elect paid delegates who will receive bitshares each block, and can then use them to fund development, fund marketing campaigns, etc.

This was one of the main new things in the changes to Bitshares.

Where do the Bitshares come from?  Do they print new ones out of thin air?  I know there was talk of allowing voters to inflate the supply to their hearts content..

Delegates can receive up to 50 new BTS per block *if* their pay rate is 100% and voters approved of them.

I almost have my delegate set up. I registered delegate.methodx about a month ago and set the "pay" to 10%. If I want 100% pay to put toward advertising, can the % be increased? Will the new rules set everyone at 50 BTS per block? Should I register a completely new delegate account and start from 100%?

[jwiz168]

now that s what I call a nice thing to look forward to .... I'm going to be a DELEGATE.

[bytemaster]

How does delegate system allow funding development/marketing?

Voters can elect paid delegates who will receive bitshares each block, and can then use them to fund development, fund marketing campaigns, etc.

This was one of the main new things in the changes to Bitshares.

Where do the Bitshares come from?  Do they print new ones out of thin air?  I know there was talk of allowing voters to inflate the supply to their hearts content..

Delegates can receive up to 50 new BTS per block *if* their pay rate is 100% and voters approved of them.

[hughmanwho]

How does delegate system allow funding development/marketing?

Voters can elect paid delegates who will receive bitshares each block, and can then use them to fund development, fund marketing campaigns, etc.

This was one of the main new things in the changes to Bitshares.

Where do the Bitshares come from?  Do they print new ones out of thin air?  I know there was talk of allowing voters to inflate the supply to their hearts content..

[donkeypong]

Yup I called the bottom so hopefully you didnt sell... I think we head up to around $500 on btc and time will tell on how bts will react.. if we make new highs on bts then we are good... depends on how charts look as btc rises... if bts has a hardt ime rising vs btc then the market is saying we don't have our game straight yet.. need more technology or better marketing etc etc.. but I believe panic sellers personally just gave up similar to speculators giving up during the times when bitcoin crashed down to $3 or $50 after new ATH's.

I wouldn't worry about charts (but thanks for calling the bottom; I bought more!). We know there's a better client, GUI, wallets, and a marketing push on the way. Until then, even a drop like this is really just static.