Amanda from The Daily Decrypt here -- I have a couple questions.

[TheDailyDecrypt]

Thank you, everyone, for answering my questions and clarifying my misunderstanding.

Cheers!

[CLains]

2 - Does it require a sort of "worker" proposal to get coins created to fund development?

Here's a list of the workers, http://cryptofresh.com/workers ... Only cass, xeroc and "bitsharesblocks" (svk) are currently voted in, you can see their proposals linked next to their name. The funding available is proportional to BitShares marketcap, and we've been in a yearlong downtrend so people are conservative with spending now.

[Samupaha]

It's also important to remember that BTS isn't exactly a coin but a share of a decentralized autonomous company.

[cube]

Thanks for creating today's exciting episode.  It is always a pleasure watching your show.

I think this chart will help you understand our system better - https://bitshares.org/technology/stakeholder-approved-project-funding/
Replace the word 'Delegates' with 'Committee'.

All the coins are already created (hence no new coins to be created) and the excess coins are in the reserved pool (fund).  Part of this fund are used to pay witnesses and workers, and the excess fund returned to the pool by the 'refund worker'.  IMO, what we have here is an intelligent crypto that is functioning close to a decentralised organisation.

[lil_jay890]

Hi, all!

My manservant and I were just chatting about cryptos, and Bitshares came up, and we wanted to know more about internal funding. If you wouldn't mind taking the time to answer, we'd love to know:

1 - From my chat with Dan Larimer, I understand that new coins can be/are created to fund development. Is that correct? If so, how precisely is it decided how much will be created, and when? And how is consensus achieved?

2 - Does it require a sort of "worker" proposal to get coins created to fund development?

3 - Is there a limit to how many new Bitshares can be created to pay workers?

4 - How does the Bitshares blockchain get commanded to create the new coins upon consensus to do so? Like is there a cryptographic way from within all the voters' wallets that they can vote to create new coins?

Alright, that about does it for me. I understand this is a lot -- if there is already-published documentation somewhere that I can simply go and read for myself, I'd be happy to receive it!

And let me add that we're thrilled to have BitShares as the sponsor for our last two episodes, and 18 more to go! Here's today's episode, in case you missed it: https://www.youtube.com/watch?v=aHlIKf7bHFg

- Amanda
@TheDailyDecrypt
http://TheDailyDecrypt.com

1.  There are no "new" coins ever created for development.  Bitshares has just over 1 billion BTS stored in a reserve fund.  To use these funds a worker proposal is created and then voted on by shareholders.  If shareholders approve, the funds are released for the worker proposal.

2. Yes a worker proposal needs to be created in order for it to be voted on by shareholders.

3.  The maximum amount of bitshares that will ever be in circulation is around 3.7 billion.  The reserve fund has around 1 billion shares.  The reserve fund can get replenished through various fee's (transfers, trading, account upgrades).  Currently we are spending around 15k bts per hour on worker proposals and block signing. http://cryptofresh.com/reserve

4. No coins are ever created... the blockchain releases bts from the reserve fund once the shareholders have voted in favor of the worker proposal.

This is just a down and dirty explanation of how BTS generally works.

[TheDailyDecrypt]

Hi, all!

My manservant and I were just chatting about cryptos, and Bitshares came up, and we wanted to know more about internal funding. If you wouldn't mind taking the time to answer, we'd love to know:

1 - From my chat with Dan Larimer, I understand that new coins can be/are created to fund development. Is that correct? If so, how precisely is it decided how much will be created, and when? And how is consensus achieved?

2 - Does it require a sort of "worker" proposal to get coins created to fund development?

3 - Is there a limit to how many new Bitshares can be created to pay workers?

4 - How does the Bitshares blockchain get commanded to create the new coins upon consensus to do so? Like is there a cryptographic way from within all the voters' wallets that they can vote to create new coins?

Alright, that about does it for me. I understand this is a lot -- if there is already-published documentation somewhere that I can simply go and read for myself, I'd be happy to receive it!

And let me add that we're thrilled to have BitShares as the sponsor for our last two episodes, and 18 more to go! Here's today's episode, in case you missed it: https://www.youtube.com/watch?v=aHlIKf7bHFg

- Amanda
@TheDailyDecrypt
http://TheDailyDecrypt.com