DAC Angels - BitShares PTS Stakeholders Group

[zhang8862686]

angle share .......boooo!

[chono]

I pm'd you. Looking forward  :)to

[sxn9185]

I'm in.

[bytemaster]

We are considering a new way of raising money to funds DACs that will affect all PTS holders... please read our proposal here: https://bitsharestalk.org/index.php?topic=1397  and let us know if you have any concerns as a holder of PTS.   Basic take away is this:

1) PTS holders will end up owning much more BitShares than the 10% originally anticipated.
2) PTS holders will find that Invictus is able to convert money currently waisted on mining into Money to fund DACs.

All of these things should increase the value proposition for current PTS holders.

[devilfish]

seriously?
one post above, in fact in both two above, it says you should use the form and send no more pms...

I thought you just read the thread title and posted away based on the first thing to pop into ones head...

[seraphim]

seriously?
one post above, in fact in both two above, it says you should use the form and send no more pms...

[trytinysmart]

PM sent

[boshen1011]

DAC Angels Update

To avoid the risk of losing your PMs in our haystack, we have created a DAC Angels registration form at the bottom of our web site pages.  That's the best way to "sign up."  (So, please, no more signups via PM.)

However, because of the tremendous response, we've decided that there's really no reason to have a separate Angel group.   (We didn't think small shareholders would be interested.  It is clear that we were wrong!) We're all potential Angels now.

So we published our latest thoughts in our December general newsletter which everyone can find at http://invictus-innovations.com/news/.   

Note that we are not proposing any fixed fund-raising rules for anybody.  Just a common place to post unsolicited proposals to the DAC Angel community where you clearly define whatever rules you think work best for your DAC.  We also discuss some ideas for decentralized Angel funding of those proposals and the kind of things most Angels would probably want to see discussed in such a proposal. 

I'm sure you will have more good ideas.
Let us know what you think here.

Featured article in our Newsletter 03 - December 2013:  DAC Angels Rising 
(Stan Larimer, President ,    Invictus Innovations Incorporated)

http://invictus-innovations.com/dac-angels/

Please join us by signing up the registration form at the bottom of the page:   our DAC Angels mailing list.

[Stan]

DAC Angels Update

To avoid the risk of losing your PMs in our haystack, we have created a DAC Angels registration form at the bottom of our web site pages.  That's the best way to "sign up."  (So, please, no more signups via PM.)

However, because of the tremendous response, we've decided that there's really no reason to have a separate Angel group.   (We didn't think small shareholders would be interested.  It is clear that we were wrong!) We're all potential Angels now.

So we published our latest thoughts in our December general newsletter which everyone can find at http://invictus-innovations.com/news/.   

Note that we are not proposing any fixed fund-raising rules for anybody.  Just a common place to post unsolicited proposals to the DAC Angel community where you clearly define whatever rules you think work best for your DAC.  We also discuss some ideas for decentralized Angel funding of those proposals and the kind of things most Angels would probably want to see discussed in such a proposal. 

I'm sure you will have more good ideas.
Let us know what you think here.

[cc5alive]

PM'ed.  Man, I'm excited about what you guys are doing!

[Pocket Sand]

PM send, why no response?My Email is 30836110@qq.com

Bytemaster said he was working on it but was piled under 100s of messages in his inbox

[gerrypp]

PM send, why no response?My Email is 30836110@qq.com

[super3]

I think for this to work we would needed a voted contract of sorts. It would be a written agreement detailing the plan conceptually, technically, and financially. There would be a set model for this, so when you are looking to fund a new DAC you can just quickly skim through, and know everything is in order.

So in the case of MediaShare(or something). It would be a document titled "MediaShares Proposal." Conceptual, we are trying to make a distributed YouTube basically. Technically, we are using Bitcoin protocol for rewards but we need things things added to pass the videos around. Financially, core developers want 10% stake plus an operating budget of 10 BTC, and we probably need 1 CEO, 2 Designers, 4 Programmers.

Community members would say 10% is too much you get 5% with an operating budget of 5 BTC. Everyone settles on 7% and 7 BTC. And then the funding period begins.

The cool part is everything would be open source, so investors can see up to the minute updates and people can even pitch in if there is a problem that needs to be addressed

[devilfish]

With a hat-tip to the WeTube Alternative DAC threads...

It is also my opinion that the persons who do most of the efforts should be the initial shareholders of this company, just like it happens in the real world. Do you imagine Steve Jobs doing what he did knowing that he had only 0.0001% of the company he just created? No, he had a good share because he took the risks and has the ideas (it is irrelevant if after some years he sold them).
...
So I propose something that would not like very much to speculators, but certainly will motivate programmers and serius investors to do serius work here.
...
Because I know that there are people who want to invest but don't have any skills to contribute, we can also create a ProtoMediaShares, similar to what Protoshares is, that could be converted to WeTube DAC's shares at the launch, at some proportion. We are open to this proposition if we still give programmers something like 3/4 of the total initial shares. But some shares could be given to miners-only with a moral condition: please promote WeTube!
...
And what part of the stock do we reserve for programmers and miners? I propose 10% for programmers and 2.5% for miners. The 87.5% left is reserved for workers to be earn slowly once the system starts running. 10% is really a lot if we consider that this DAC could become the next Youtube.

Here is some innovative proto-DAC thinking that deserves to be highlighted outside its home thread.  I'd like to see more discussion about "acceptable" ways to motivate and enable more developers to develop more DACs.  After all, we as ProtoShareholders now have a vested interest in seeing lots of high-quality DACs fielded and backed by strong teams of developers willing and able to see them through to stand-alone autonomous operation.

Proto-DACs would seem to be a way to attract DAC-specific investors and developers the same way ProtoShares attracts global visionaries and industry leaders.

I'm calling it to the attention of the DAC Angel community and would like to hear thoughts about how ideas like this can increase the value of the PTS we currently hold.

The problem I have with this (WeTube) model (which I've expressed in other threads) is that you end up with a centralised team of developers who are linked to the project both financially and through their knowledge of how the system works (this wouldn't be a problem with any DAC not doing anything consider to be illegal by the real world). I know I know "we need coders", well to be honest I think we've probably got enough of them in the cryptocurrency world, it's not exactly the kind of stuff average people can get their head around (can you imagine your parents setting up a mining rig?)

I think it would be best to set bounties for specific tasks required to make a working implementation which can be tweaked by the community. This would require careful coordination between the share holder community with their needing to be much discussion on a public forums and their being democratic processes to ensure everyone has an equal say.

So to break it all up the process should be pretty much as described in "DAC's That Spawn DAC's". An idea is identified, we decide a cryptocurrency might be a good way to express the value of this idea with the intention of fully crediting anyone holds the currency being entitled to a proportional stake in any DAC that is implemented as result. A coin just "happens" to appear which has a similar sounding name to what it is we are trying to do and we use that. At the same time someone creates a forum which provides information on a hypothetical DAC system which is used for creating a exploring and testing ideas associated with the final goals of the DAC. If others feel it's a good idea they will (hopefully) buy shares and the value of this shares will rise. That will give early adopters of the currency capital to use for paying bounties. Further capital could be acquired by protoshares holders who believe the dividend return will be high enough and have the cash available to invest in developers/marketer/whatever is identified to get the job done.

I'd like to (once again) make it very clear that I like the idea of WeTube but I feel these issues should be addressed before we start thinking about how the system works (that's the fairly easy part really, gaining support, a way to generate payments to the creators of the works and avoid legal issues will be the challenge). I also feel these questions I'm raising aren't being addressed adequately, hence why I keep going on about them.

[bytemaster]

PM send, why no response?

If you sent it to me it may have been lost in the 100 + messages I have received.


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