Author Topic: A plan to revive the value of the BTS token  (Read 2423 times)

0 Members and 1 Guest are viewing this topic.

Offline CoinHoarder

  • Hero Member
  • *****
  • Posts: 660
  • In Cryptocoins I Trust
    • View Profile
A plan to revive the value of the BTS token
« on: March 16, 2017, 06:40:07 am »
The original dream of BTS consisted of making a profitable DAC, thus increasing the value of the BTS token.

There is a stupid easy way to do so, and it has been under our nose the whole time. This will be a controversial proposal, but I have no doubt it will send Bitshares to the moon, and pull it out of the downward spiral it is on.

The proposal is simple. Delegates should get paid nothing... zilch, nada. It should be a volunteer-based, non-profit venture. With no inflation, each token holders' equity will increase proportionally with every token that is burned.

I posit that there are enough stakeholders with enough skin in the game to run delegate nodes for free. Stakeholders of which that are incentivezed enough due to their holdings of BTS tokens to not try anything stupid, and of course they could be voted out quickly if they did.

Only one small tweak would need to be made to the codebase (other than reducing delegate pay to zero, which I think can be done by comittee.) Eventually, all coins would get burned in fees, leaving no BTS tokens in existence. A stock split every so often would be needed to issue tokens proportionally to all stakeholders so this never happens.

A profitable DAC = An appreciating BTS token = Happy investors = More investors entering the ecosystem = Trickle down effect to liquidity in BTS' DEX

Ez game
https://www.decentralized.tech/ -> Market Data, Portfolios, Information, Links, Reviews, Forums, Blogs, Etc.
https://www.cryptohun.ch/ -> Tradable Blockchain Asset PvP Card Game

Offline freedom

  • Sr. Member
  • ****
  • Posts: 302
    • View Profile
Re: A plan to revive the value of the BTS token
« Reply #1 on: March 16, 2017, 06:47:06 am »
 +5%

Offline fav

  • Administrator
  • Hero Member
  • *****
  • Posts: 4276
  • No Pain, No Gain
    • View Profile
    • Follow Me!
  • BitShares: fav
Re: A plan to revive the value of the BTS token
« Reply #2 on: March 16, 2017, 10:26:05 am »
let's pack it up boys, he bolded "no doubt" - killer feature.

on a serious note,  bitshares will be very expensive should it ever scale, and you need professionals for that. can't expect shareholders to do this stuff.

Offline Thom

Re: A plan to revive the value of the BTS token
« Reply #3 on: March 16, 2017, 03:21:18 pm »
I think this is a bad idea.  It is speculation, far from a "no doubt" proposal. A "DAC" has certain expenses, such as infrastructure, "witnesses" for example. Name a not-for-profit company in the real world that is not subsidized and is also self sustaining AND GROWING.

Relying on volunteers is in fact a subsidy. By relying on unpaid volunteers is not a wise way to operate a company, a DAC, and have stability, growth and sustainability.

I am all for volunteerism. BitShares wouldn't exist without volunteers, but for essential operations that maintain the integrity and security of the network in a decentralized manor it would be foolish to remove the incentive for good quality witnesses to do their job.

Where were you @CoinHoader when the discussion about witness fees took place? Are you aware witness pay was recently doubled in an effort to improve feeds and witness involvement?
Injustice anywhere is a threat to justice everywhere - MLK |  Verbaltech2 Witness Reports: https://bitsharestalk.org/index.php/topic,23902.0.html

Offline CoinHoarder

  • Hero Member
  • *****
  • Posts: 660
  • In Cryptocoins I Trust
    • View Profile
Re: A plan to revive the value of the BTS token
« Reply #4 on: March 16, 2017, 03:51:16 pm »
.
on a serious note,  bitshares will be very expensive should it ever scale, and you need professionals for that. can't expect shareholders to do this stuff.

It will never scale as-is. Bitshares is becoming less and less relevant in the crypto space with every day that passes. I wouldn't touch it with a 10 foot pole at this point.

Anyways, what I proposed could be done by committee, so it could be reversed if that time did come.
https://www.decentralized.tech/ -> Market Data, Portfolios, Information, Links, Reviews, Forums, Blogs, Etc.
https://www.cryptohun.ch/ -> Tradable Blockchain Asset PvP Card Game

Offline Stan

  • Hero Member
  • *****
  • Posts: 2906
  • You need to think BIGGER, Pinky...
    • View Profile
    • Cryptonomex
  • BitShares: Stan
Re: A plan to revive the value of the BTS token
« Reply #5 on: March 16, 2017, 03:56:21 pm »
Anything said on these forums does not constitute an intent to create a legal obligation or contract of any kind.   These are merely my opinions which I reserve the right to change at any time.

Offline CoinHoarder

  • Hero Member
  • *****
  • Posts: 660
  • In Cryptocoins I Trust
    • View Profile
Re: A plan to revive the value of the BTS token
« Reply #6 on: March 16, 2017, 04:12:29 pm »
I think this is a bad idea.  It is speculation, far from a "no doubt" proposal.
It is simple economics, far from speculation... supply and demand, man.

Relying on volunteers is in fact a subsidy. By relying on unpaid volunteers is not a wise way to operate a company, a DAC, and have stability, growth and sustainability.
A true DAC would not have paid employees, autonomous is part of the acronym for a reason.

I am all for volunteerism. BitShares wouldn't exist without volunteers, but for essential operations that maintain the integrity and security of the network in a decentralized manor it would be foolish to remove the incentive for good quality witnesses to do their job.

A "DAC" has certain expenses, such as infrastructure, "witnesses" for example. Name a not-for-profit company in the real world that is not subsidized and is also self sustaining AND GROWING.
Delegate expenses are unnecessary at this point in Bitshares' life. It can stand on its own two feet. What business would not cut unnecessary expenses?

I don't even think you could technically call non-paid delegates volunteers, as certainly they have enough skin in the game to make it worthwhile due to the appreciating value of the token that would result from their running a delegate node.

Now that there is very little development and client updates, running a delegate node requires little to no effort.

Where were you @CoinHoader when the discussion about witness fees took place? Are you aware witness pay was recently doubled in an effort to improve feeds and witness involvement?
I have given up on Bitshares, as have most of the crypto speculators. I own no equity, and would not recommend investing in it. I just thought I'd pop in and suggest this idea is all. Do with it what you will.

Doubling delegate pay seems like a horrible idea though. A failing business that is bleeding cash should be cutting expenses, not increasing them, and it is even more so idiotic to be doubling them.
« Last Edit: March 16, 2017, 04:30:09 pm by CoinHoarder »
https://www.decentralized.tech/ -> Market Data, Portfolios, Information, Links, Reviews, Forums, Blogs, Etc.
https://www.cryptohun.ch/ -> Tradable Blockchain Asset PvP Card Game

Offline CoinHoarder

  • Hero Member
  • *****
  • Posts: 660
  • In Cryptocoins I Trust
    • View Profile
Re: A plan to revive the value of the BTS token
« Reply #7 on: March 16, 2017, 04:14:42 pm »

Your incessant cheerleading has brought Bitshares so far, please continue...
https://www.decentralized.tech/ -> Market Data, Portfolios, Information, Links, Reviews, Forums, Blogs, Etc.
https://www.cryptohun.ch/ -> Tradable Blockchain Asset PvP Card Game

Offline vikram

Re: A plan to revive the value of the BTS token
« Reply #8 on: March 16, 2017, 05:25:10 pm »
I've been wondering about the possibility of a noninflationary BitShares clone--maybe snapshotting only "active" BTS accounts--and with some features stripped out but leaving the DEX (plus maybe some parameter tweaks) and seeing how it might compete.

Not directly comparable, but I think [member=11011]tonyk[/member] had a crowdfunding-based similar idea at one point: https://bitsharestalk.org/index.php/topic,21558.0.html

Soledger is mostly busy with a separate project for now but it's something I'd consider exploring later down the line if there was community interest.

Offline blahblah7up

  • Full Member
  • ***
  • Posts: 192
    • View Profile
Re: A plan to revive the value of the BTS token
« Reply #9 on: March 16, 2017, 05:51:34 pm »
This would be incredible!

Offline tbone

  • Hero Member
  • *****
  • Posts: 632
    • View Profile
  • BitShares: tbone2
Re: A plan to revive the value of the BTS token
« Reply #10 on: March 16, 2017, 06:22:30 pm »
I've been wondering about the possibility of a noninflationary BitShares clone--maybe snapshotting only "active" BTS accounts--and with some features stripped out but leaving the DEX (plus maybe some parameter tweaks) and seeing how it might compete.

Not directly comparable, but I think [member=11011]tonyk[/member] had a crowdfunding-based similar idea at one point: https://bitsharestalk.org/index.php/topic,21558.0.html

Soledger is mostly busy with a separate project for now but it's something I'd consider exploring later down the line if there was community interest.

No offense, but it's not a good idea.  For starters, I doubt it would get much (if any) traction.  But more importantly,  if it siphons off even a small amount of liquidity from the Bitshares DEX, it would be hurting Bitshares without any realistic hope of succeeding itself.

Offline mf-tzo

  • Hero Member
  • *****
  • Posts: 1725
    • View Profile
Re: A plan to revive the value of the BTS token
« Reply #11 on: March 16, 2017, 10:01:20 pm »
I totally think we should do this..Let's make bts great again with a fixed supply that can only reduce by burning bts v3..

Offline nomoreheroes7

  • Hero Member
  • *****
  • Posts: 756
  • King of all the land
    • View Profile
  • BitShares: nomoreheroes7
Re: A plan to revive the value of the BTS token
« Reply #12 on: March 16, 2017, 10:15:29 pm »
I totally think we should do this..Let's make bts great again with a fixed supply that can only reduce by burning bts v3..

I say we just wait and see what Stan has in store first...sounds like something's going on behind the scenes that will make this debate moot.

...or at least, that's my dream.  :P

Offline ebit

  • Committee member
  • Hero Member
  • *
  • Posts: 1824
    • View Profile
  • BitShares: ebit
Re: A plan to revive the value of the BTS token
« Reply #13 on: March 17, 2017, 01:25:42 pm »
[member=16778]CoinHoarder[/member]   please consider OBITS ICOO .They burned every month.
 please consider  dash,  dash's stakeholders  why didn't  trade.
« Last Edit: March 17, 2017, 01:29:16 pm by ebit »
telegram:ebit521
https://weibo.com/ebiter

Offline CLains

  • Hero Member
  • *****
  • Posts: 2606
    • View Profile
  • BitShares: clains
Re: A plan to revive the value of the BTS token
« Reply #14 on: March 18, 2017, 04:30:36 am »
dash, eth, etc. etc. are doing fine - pretty sure we're the only community this stingy lol