So if Onceuponatime is right, BTS loses and he gains. If he is wrong, BTS gets a new feature at a bargain basement price.
My bet is that onceuponatime is right.
I would also strongly recommend that we open up this deal to "crowd fund" a UIA with a buyback plan. This way onceuponatime can diversify his risk and we can have an "equal opportunity" policy. I don't want anyone accusing us of playing favorites. By being equal opportunity we should auction it off. Raise as much BTS as possible to fund it and then burn the rest. This way the network gets a proper market-determined-price for this revenue stream.
Just some ideas.
I will admit I didn't read every single msg in this thread.. but even as I was reading what
@bytemaster said here at the end was precisely the idea I had swirling in my head about how this would better proceed.
I know
@onceuponatime and for those that may have questions about his motives in this.. you are speaking of someone who has been and will continue to be BitShares most stoic supporter. He just happens to really love privacy and so he sees this as a priority.
I think the most elegant format for this proposal is to attach it to a UIA with the $45k originally invested attached to the shares. Open it up for everyone to be able to buy in.. I am sure Onceupon will have no problem sitting back and letting everyone else take up as much of the tab as possible. Once the $45k is reached the market will be empty and all that is left is the worker being voted in as proposed here. I would recommend 9 days to allow the buy in.
I would propose that the fees will go to the UIA asset holder. The holders of the UIA can decide how those funds will be released via the UIA market as a buy back of the UIA. It is clear that those that choose to hold longer are going to have a greater value for their shares in the UIA. Those that choose to sell early simply get their money back.
- This allows all those who want in on the action to get some.
- This means it's decentralized.
- This allows BitShares members in the future to have some of the action as well.. holders of the UIA have a market and I am sure there will be some infrequent buy/sell activity on owning one of Bitshares tollbooths.
- Future option for Bitshares as a network to buyout all the UIAs if they so choose to return it back to the network.
These are just my thoughts on this matter. It's now up to Onceupon how he would like to see things proceed and how much support we will see.
Looks like
@luckybit is thinking along the same lines too.
I'm excited about this!
to
@onceuponatime for lighting the fire.