Author Topic: New Stealth Transfer Worker ($1000)  (Read 66983 times)

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Offline Riverhead

What if they took 80% of the fees until they'd recouped, for example, $60k worth of BTS - currently about 18 - 20 million shares. That's a 33% ROI - more if the price of BTS goes up during the payback phase.

Feature funding for profit makes sense. Lifetime royalties not so much.

Offline topcandle

So because you cant track stealth transfer fees to referrers, you want to hardcode an individual to receive all stealth fees (albeit for a limited time)? What a horrible nasty hack. It reminds me of hardcoding AE to receive millions.

If he wants to pay for it then a better way is to make the worker proposal for $45K of BTS dependent on that generous individual buying $45k worth of BTS on the market. That is a way more elegant solution.

Every single time you hardcode your buddys' usernames into the BitShares source code, you make the whole project look more centralized.

How else do you get people to build DApps on Bitshares?  If they can't profit, what value can they bring?  A community based DApp is always going to be worse than a independent venture because they care about their risks more. 
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Offline Akado

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After the first 20 Million BTS worth of fees have been paid to this individual, the split would reverse, with $0.10 going to him and $0.40 going to the network.
Are we talking about 20% of that fee going to this person for lifetime?
Or only untill, just saying, he got his initial investment + 20% ?

As fees are set in terms of BTS, we would allow the individual who paid for this feature to set the fee until the first 20M BTS have been paid, then the committee members would take over setting this particular fee.

Are we talking about let this person to actually have the power to set and change the fee, or just the promise by the community/committee (present and future) to comply with the agreement and so keep the fee as previously agreed?

Good questions id like being answered.

It seems a nice idea. Im surprised by the fact someone is willing to risl that amount of money, that only shows bitshares potential and the kind of supporters it has.

Idk why but it seems to me cnx has been pushing for stealth transfdrs because of plasmaOS given private blockchains are a thing now and Stan has given a good hint one of these last days.

Só in the end e see a good motive for cnx wanting to go forward with this. I tjink we should have other priorities short term lile the API but since im in it ffor the long run and start to see there might be something here...
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Offline oldmine

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So because you cant track stealth transfer fees to referrers, you want to hardcode an individual to receive all stealth fees (albeit for a limited time)? What a horrible nasty hack. It reminds me of hardcoding AE to receive millions.

If he wants to pay for it then a better way is to make the worker proposal for $45K of BTS dependent on that generous individual buying $45k worth of BTS on the market. That is a way more elegant solution.

Every single time you hardcode your buddys' usernames into the BitShares source code, you make the whole project look more centralized.
« Last Edit: November 23, 2015, 03:38:12 pm by oldmine »

Offline giant middle finger

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We should crowdfund the bond market after this.  Those who bought into the bond market will get a % fee.

great idea, count me in


that is, of course, unless someone here wants to pay for it:




anyone




anyone




« Last Edit: November 23, 2015, 03:19:24 pm by giant middle finger »

Offline giant middle finger

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holy shit

take it before she changes her mind!




Offline Empirical1.2

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After the first 20 Million BTS worth of fees have been paid to this individual, the split would reverse, with $0.10 going to him and $0.40 going to the network.
Are we talking about 20% of that fee going to this person for lifetime?
Or only untill, just saying, he got his initial investment + 20% ?

I think 20%/other negotiated amount, lifetime is fine personally. Investors don't want their upside limited.

Though once he's been paid the 20 million BTS/other negotiated amount, then BTS should regain the power to price the feature. So we could drop the price to for example $0.2 if we wanted with $0.04 going to him.
« Last Edit: November 23, 2015, 03:14:32 pm by Empirical1.2 »
If you want to take the island burn the boats

Offline topcandle

We should crowdfund the bond market after this.  Those who bought into the bond market will get a % fee.
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Offline bitcrab

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the way is ok, I am not sure about the price, please devs advice.

and $45000 can be funded by 112500 transfers if each transfer contribute $0.4.
suppose 100 stealth transfers each day, need about 3 years to cover...

I hope below change can be implemented with high priority:

1.  Prevent margin call from being triggered unless the price feed is less than call price  (popular demand)
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Offline Empirical1.2

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 +5% In general, I'm a big supporter of this kind of approach.

BTS could potentially enjoy major blockchain improvements without having to pay for them or take the risk that they are duds by creating a revenue sharing model that incentivises external developers and investors.

At first glance the deal itself looks fairly reasonable to me.

How long it takes and where it's likely to come on the development timeline should be covered too though I think.


If you want to take the island burn the boats

Offline topcandle

This is a good solution, since its more capitalistic than the structure we had before.  Risks are being taken by an individual (Capitalism), instead of being socialized by the entire community.  We want more features and functions in the future to be introduced in this manner.  Its a Win-Win.
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Offline Bhuz

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After the first 20 Million BTS worth of fees have been paid to this individual, the split would reverse, with $0.10 going to him and $0.40 going to the network.
Are we talking about 20% of that fee going to this person for lifetime?
Or only untill, just saying, he got his initial investment + 20% ?

As fees are set in terms of BTS, we would allow the individual who paid for this feature to set the fee until the first 20M BTS have been paid, then the committee members would take over setting this particular fee.

Are we talking about let this person to actually have the power to set and change the fee, or just the promise by the community/committee (present and future) to comply with the agreement and so keep the fee as previously agreed?

Offline Riverhead


A bold move by this individual and a very long term bet. What would happen if before they recovered their $45k in fees a new worker proposal is submitted and approved to build a better stealth transfer mechanism?

The 25% royalty on the stealth transfer fees for life leaves a bad taste in my mouth. Perhaps it's the precedent it would set for future proposals.

Offline fav

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I don't mind us paying for it, it's just that I don't see a priority in optional stuff until we got a working product.

edit: what's the status on the referral bug?

Offline bitacer

Beautiful, if there is a will there is also a way.