Author Topic: Loyalty Rewards Program  (Read 6678 times)

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Offline starspirit

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It should be noted that by locking up BTS of long term holders it will not be available for other areas of adding value in the system. For example, it will not be available as collateral for bitAssets, and potentially restrict growth there, especially as many shorts are actually long term holders.

Offline xiahui135

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I think we should support this idea. It is something like POS. If this true, our system will combine advantage of POS and DPOS.

Offline helloworld

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BTS price falling down,  But the problem is not the delegate voting system.

And in my opinion , the bts price falling down lead to cannot pay for delegate, It is good for BTS DAC.

It is punishment to BTS system, for the system performance not good enough.
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Offline starspirit

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I like the current free market where any delegate proposal can get voted up by stakeholders. But I would not vote for this. As owners, we should not be looking to reward our own loyalty - we should look at rewarding the loyalty of customers who will generate value for us.

I would prefer time spent on complementary non-dilutive solutions to funding development work. Bounties, angel funds, project shares, etc...

Offline ebit

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Offline BTSdac

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As a core developer I think the first thing is developer product.
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Offline Ander

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A big factor in Bitcoins adoption was that mining is interesting and fun. Maybe we can bring some of this fun to BitShares as well.

Indeed.  Mining made people want to run the bitcoin client.

What things can we do to make people want to use the Bitshares client on a regular basis?  That is what we need to think about.


The way I understood this proposal, it wouldnt cause people to use Bitshares more.  It would cause them to lock away their BTS, and then leave for a year, doing nothing at all. 

Instead, we should look for ways to reward people for using BTS on a regular basis.  (In ways that arent just inflationary to the supply of BTS).
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Offline Frodo

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I seem to be one of the few people who like the idea.

Is it going to be game changing? Of course not. And I agree with many people who said we have to focus on more important issues. But if it can be implemented with little effort then go for it. IMO the advantages stated by bytemaster, especially concerning the "irrational" holding should outweigh the disadvantages.

A big factor in Bitcoins adoption was that mining is interesting and fun. Maybe we can bring some of this fun to BitShares as well.

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We dont need gimicks to temporarily inflate the BTS price, we need useful products with a good user experience that make people want to buy and use BTS.
+5%

Offline Ander

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We dont need gimicks to temporarily inflate the BTS price, we need useful products with a good user experience that make people want to buy and use BTS.
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Offline mf-tzo

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I like it. The first thing that came in my mind was ripple. They show on coinmarketcap c32 bil XRPs and a market cap of $236 mil and people think that ripple is cheap and should be worth billions. Many people forget that total XRPs are 100 bil. and therefore XRPs market cap is in reality close to 750 bil.
Remember when we passed ripple market cap for 1 day? They immediately increased their supply so they don't seem to be left behind..

Although this tactic doesn't appear to be fair play I like it and I think could increase BTS demand is suddenly people see a market cap of $5 mil due to reduced supply. ..

Offline pc

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sounds like the nubits idea... don't know if that's what we need right now.
exactly. Except I'm pretty sure that we don't need that. I've always considered nubits a broken concept.
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Offline merivercap

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Unless there is a significant flaw in the current plans, lets worry about getting them complete. We can always test other things later.

 +5%

http://dilbert.com/strip/2015-04-21

http://dilbert.com/strip/2015-04-22

 :P

I agree this is not necessary to think about right now if at all.  I'm all for focus and keeping everything as simple as possible.  If the core features are robust, I would rather have core devs look to simplify, refactor & optimize then add anything new no matter how easy it is.  Heck I would rather devs take a vacation with their pay than add any more features or options.  Complexity is a value-killer. 

BTW I would rather give all workers the option to sell.  If we place restrictions on pay, we'll get a smaller pool of workers and will reduce the competition in quality workers. In startups, a lot of early employees are stuck with a lot of shares with no liquidity.  They end up having difficulty with cash flow, buying a home, paying for their children's school, and end up taking loans with all this value trapped in restricted shares.  Restricted stock is an unnecessary regulatory burden imposed by the SEC.  In a free market, if you allow employees to sell shares at anytime, employees and investors should be happier.  It creates liquidity.
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Offline Akado

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partner with some project that is struggling and make both sides stronger.. Omni/Mastercoin looks weak, I don't know if they have devs looking to jump or partner. Other tough steps will make a difference too.. legislation .. partnering with ambitious forward thinking tech like Overstock.

this^
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Offline Ander

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Locking up BTS and then releasing that BTS + interest later on doesn't seem helpful at all, it just results in inflation in the long run. 

The ones that will lock up their BTS are the ones who already didnt plan to sell, so it doesn't actually relieve much selling pressure. 
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