Small is beautiful - dShares distribution - Community lead crowd funding

[tonyk]

Your proposal will not work if you fork Bitshares. Take a look at how many alt coins have over 1k USD of volume in a 24 hour period compared to how many alternative coins have less than that. It is likely this fork will fall into the "less than that" category. Thus, Bitshares as-is will have more liquid Smartcoins than your fork. Not to mention all the negatives that come along with forking a project/community.

'My fork" as in the fork that I have paid for each single share competing with everybody else?

Thanks for the "I predict...cause I predict" statement. We are all very good at that... when we decide to.

My prediction is based on sound logical reasoning. Your rebuttal is more like "you're wrong just cause you're wrong" temper tantrum style.

[tonyk]

Your proposal will not work if you fork Bitshares. Take a look at how many alt coins have over 1k USD of volume in a 24 hour period compared to how many alternative coins have less than that. It is likely this fork will fall into the "less than that" category. Thus, Bitshares as-is will have more liquid Smartcoins than your fork. Not to mention all the negatives that come along with forking a project/community.

'My fork" as in the fork that I have paid for each single share competing with everybody else?

Thanks for the "I predict...cause I predict" statement. We are all very good at that... when we decide to.

[tonyk]

Your proposal will not work if you fork Bitshares. Take a look at how many alt coins have over 1k USD of volume in a 24 hour period compared to how many alternative coins have less than that. It is likely this fork will fall into the "less than that" category. Thus, Bitshares as-is will have more liquid Smartcoins than your fork. Not to mention all the negatives that come along with forking a project/community.

[tonyk]

Here is rough draft of of how dShares emerges and separates itself from BTS and how it gets initial funding and kick starts itself. I am not married for this proposal, but I do see most of its elements either desirable or the best possible compromise I have thought of.

Distribution of the new shares:
70% to the active BTS shareholders. Active defined as having their shares in their own account (outside of exchanges).
30% crowd fund/kick starter contributors.

Small is beautiful
While I do not see why dShares will not equal or hopefully bigger market cap in the future. I think starting small compact and reasonable is good thing for a start-up co-op. For that reason and to remove as much speculative value from current BTS price I find an initial estimate of  dShares value at 1/7th of BTS a good starting point. This should also give a nice return and incentive for participation for those part taking in the kick starter.

Development fund
All money from the kikstarter sales will go into a (community -and-) contributors to the crowd fund  multi signature account. The funds will be used to pay for development of the features outlined in the "bitSHARES as shares thread", and will continue to pay for any additional feature until it is exhausted.



BitAssets are our main innovation - we should have started using the long-long ago[I mean for both chains

-Kickstarter token will be offered for sale in a period of (say 30 days)
-in dSharesKickstarter/ bitUSD; dSharesKickstarter/ bitCNY and dSharesKickstarter/ TCNY markets ONLY.
-each day 1/30 of the dSharesKikstarter will  be sold to bidders offering the min price or above.
i-f not enough interest exist the unsold shares will carry to the next day(s) and if remaining shares exist on the last day to the dev. fund itself.
-The min price will be 1/7 of BTS price in USD at the start of the funding (alternatively some other prior day)




Some other general explanation clarification:

Community lead crowd funding
If it is not clear my ideas is about the following - 15-20 community volunteers (proxies, committee members etc are strongly encouraged to come forward)  start as controlling multi sig account where the crowd funding money go to. As major donors start to become more clear (say 3 times in the 30 day period) those initial volunteers are replaced by the top 15-20 contributor to the fund. At day 31 all community members controlling the account are replaced by the top 20 contributors.

Distribution to the Active community
I suggest [not married to this part, but find it beneficial] to cap the share-drop amount on exchanges to 10mil BTS. The excess of their holding will be spread to the community that seems to participate - and show it with at least withdrawing its funds from exchanges into his own account. BTW, IF no money are withdrawn and the things remain as of today, everyone will have about equal share in the dShares than is his share of total supply  in BTS.

Min price and currency of the crowd funding
The min price is set low for several reasons one of them being - would be contributor can create say bitCNY and use those for the crowd funding. Even if his short is liquidated and he loses all of the collateral (very very unlikely, as this means near blackswan for this BTS bitAsset), the min price grantees said person 7/2 returns if/when dShares price reaches parity with BTS.
That is to say - while I realize that many bitAsset does not exist as of now, the willing participant will be able to create them for themselves. Preferably with more than the min collateral required.


Slow maturation of the share drop
Even less married to this part, but might be highly beneficial [feedback please]
what else? I do not know, but should be more... I will save the next post just in case.

The share-drop on BTS matures slowly (coin-days approach for say 3 years) This is about only the audibility to sell those dShares. For all other purposes - voting, use as collateral, getting credit toward fees, receiving dividends those are absolutely active/normal shares
 
Some  benefits for BTS that comes to mind
1.Some part of the BTS currently held on exchanges will be withdrawn from.
2. More new bitAssets will be created and a use case for them as well.
3.First truly community lead crowd funding (the transition to funders' owned kickstart  fund is cool and unique IMHO)



Thoughts?