Author Topic: You guys don't understand devshares.  (Read 19043 times)

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sumantso

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Its the inanity of this thing. We went through massive loss in value during the merger. But that was finished, done - lets move on. Even you, toast, said the core developers don't consider PTS - and now suddenly we see a proper share drop like the good, old, pre-merger days. Which lead me to think - what the hell did we inflate BTS for?

Offline islandking

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It's irrelevant whether DVS is worth $0.01

It's the principal of BTS or devs being seen to direct anything at post 11/05 PTS.

Exactly!
I've been working on a new electronic cash system that's fully peer-to-peer, with no trusted third party. - Satoshi

Offline Empirical1.1

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It's irrelevant whether DVS is worth $0.01

It's the principal of BTS or devs being seen to direct anything at post 11/05 PTS.

Offline jshow5555

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we fully understand DVS .
We just don't understand why people keep saying "we never said 11.05 was supposed to snapshot for devshares " .
Because , they did said it .

https://bitsharestalk.org/index.php?topic=10608.0

read the bottom of the OP , then you'll know what kind of issue we're talking about here .

Ok, I'll ask Dan and Stan to make an apology for not communicating with each other. Will that fix the problem?

That's one part of the problem . At least for now you know people are angry not because of the value of devshares , and not because they misunderstood the intended allocation plan made by BM . My mission here is only to ensure those people that they're not crazy to remember that "11.05 was the final snapshot for I3" . If that fact got ignored , then maybe this kind of future conflict will happen over and over again .

The rest I'll leave it to those who cares about the value of the potentially worthless devshares . I for one don't care about DVS .

Similar thoughts here... No need to change promises for potentially worthless DevShares....totally unnecessary.

Offline islandking

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we fully understand DVS .
We just don't understand why people keep saying "we never said 11.05 was supposed to snapshot for devshares " .
Because , they did said it .

https://bitsharestalk.org/index.php?topic=10608.0

read the bottom of the OP , then you'll know what kind of issue we're talking about here .

 +5%

Toast, its not that we think DevShares will become super valuable, its the fact that you and Dan said that the merger was the last official snapshot for PTS. It is a violation of your promise to the shareholders. People can't trust the developers of Bitshares if they don't keep their word to the shareholders.
I've been working on a new electronic cash system that's fully peer-to-peer, with no trusted third party. - Satoshi

Offline toast

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we fully understand DVS .
We just don't understand why people keep saying "we never said 11.05 was supposed to snapshot for devshares " .
Because , they did said it .

https://bitsharestalk.org/index.php?topic=10608.0

read the bottom of the OP , then you'll know what kind of issue we're talking about here .

Ok, I'll ask Dan and Stan to make an apology for not communicating with each other. Will that fix the problem?
Do not use this post as information for making any important decisions. The only agreements I ever make are informal and non-binding. Take the same precautions as when dealing with a compromised account, scammer, sockpuppet, etc.

Offline toast

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Would you be angry if the devs coordinated a massive dump to test out undercollateralization?
DON'T HOLD DEVSHARES!

Would you be angry if the devs discovered and exploited a bug in DVS which permanently brought down the network and forced a reset?
DON'T HOLD DEVSHARES!

Would you be angry if the devs reset the network and allocated 100% to Vikram?
DON'T HOLD DEVSHARES!

From BM:
Quote
No one can execute a scam on the DevShares network because all such scams are deemed to be legitimate voluntary choices in a contract free world.

It is important that you have your expectations set right here. Exchanges may freely walk away with your DevShares deposits without any moral issues.

DevShares came into existence for two reasons:
1) We need a live network that has the same fork history as BTS for everyone to practice upgrading in "the real thing".
2) We need a network to test economic theory, which works equally well at a market cap of $10,000 or $10 million

DevShares was NEVER intended to be a sound investment or a good place to store your value. If you are complaining about DVS allocation, you simply don't understand its function!

I will never suggest anyone do anything other than sell DVS (unless they need to buy 1 cent worth to run some tests), and I definitely would never support such idiocy as diluting BTS to support DVS price!
Do not use this post as information for making any important decisions. The only agreements I ever make are informal and non-binding. Take the same precautions as when dealing with a compromised account, scammer, sockpuppet, etc.