Exchange is free to vote with BTS which you, dumb assholes, keep in their wallet. This is absolutely just. You give your BTS away, you give your vote away. As simple as this. Don't complain about this, because if you do, you look like idiots.
Although you are correct, this exposes one of the great weaknesses of the POS model, which is highly undesirable, hence the concern.
Exactly, this is why bitcrab's action should have needed throughout discussion first so that everybody would have known the potential problems. I would have preferred that Bitshares were much bigger until there is an attack against this weakness. There would have been better possibilities to attract traders from the voting exchange to Bitshares exchange.
exactly speaking, I am against bytemaster in some cases, but in most cases I support him, otherwise I would have left Bitshares for months,I think Bitshares need him, I think the relation between bytemaster and committee should be as that between CEO and board, or President and Congress.
Bytemaster doesn't have a position compared to CEO. He is just a powerful shareholder. Also he knows the system best because he invented it, that gives some value for his opinions. But that's not in any way an official position in DAC.
Opposition make sense, especially in bitshares community where there are too much simple followers.
Opposition just for the sake of opposing something isn't valuable. If the opposition can create good criticism and helpful counterproposals, then it will be valuable. So far we have seen mostly just complaining without any credible alternative plans.
they do not want to be active members in community, because they do not have so much time/resource for BTS, they get many information of BTS from my side, they vote mainly because they would like to help to make the committee more diversified/dencentralized.
That's not even remotely good way to create more decentralization. You are just getting more power for yourself. If you really want more decentralization and diversification, you should try to attract more independent actors, people who won't be "simple followers" but rather think with their own brains and vote with their own stake.
don't complain why they do not want to spend time on BTS, they have told me:"we really hope BTS can have a good future, but we have little confidence on this, we are not sure it is decentralized, we can keep the trading pair, but we do not want to pay more resource on it."
With this kind of attitude it's not good if they vote!
Corporation democracy works pretty well because everybody who can vote has skin in the game. It's their own money that they are voting with. If they vote badly, value of their assets go down. And vice versa, if they vote well, value of their assets go up. This will create good incentive to use time and resources to analyze what's the best way to vote.
Voting just because of voting is usually stupid. It will just pollute the votepool with uninformed votes. Voters who vote without having a clear understanding what they are doing are messing the result of the election. If there are lots of uninformed voters, the probability of bad result will go up. In the case of Bitshares this would mean that we'll get bad committee members and untrustworthy witnesses and spend money on useless worker proposals. This will decrease the value of BTS.
It's a problem if an exchange votes because they don't have skin in the game. If they vote badly, they don't depreciate value of their own assets, because they don't own BTS – their customers own it. If Bitshares suffers from bad voting, the exchange itself doesn't suffer. It might even benefit if people start to trade more because price of BTS is going down.
Topic: exchange preparing for voting (Read 35885 times)
