Lets bring " earn x% interest on 'anything' " back to Bitshares!

[cptnSolo]

then why not instead of voting, we put up a rating system just like ebay or amazon. it might be based on reputation or based on ratings on the value of the proposal.

It's like voting, but with a rating system, people are incentivised why they are voting or rating the proposal. Raters/voters are given tokens according to the value they bring into the discussion.

Votes are cast with the total rating value at the end of the rating/voting period.

Just like steemit, we can create a new asset just for the purpose of incentivising the raters. That way, there will be intelligent discussion instead of just random voting.

This should work. Only limiting the ability to vote (an asset for voting) will bring a rational behaviour to the voting process when combined with possibility of revenue from success of the initiative voted. Steemit is good example. 

[gimme-free]

then why not instead of voting, we put up a rating system just like ebay or amazon. it might be based on reputation or based on ratings on the value of the proposal.

It's like voting, but with a rating system, people are incentivised why they are voting or rating the proposal. Raters/voters are given tokens according to the value they bring into the discussion.

Votes are cast with the total rating value at the end of the rating/voting period.

Just like steemit, we can create a new asset just for the purpose of incentivising the raters. That way, there will be intelligent discussion instead of just random voting.

[R]

...So as to incentivize voting?

This will only incentivize uneducated / "random" voting, people will start voting for the first random guy thy find in order to get the "free money"

Potentially yeah, users would likely just blindly vote in order to earn their dividends which could lead to the wrong kind of votes being cast.

[chryspano]

...So as to incentivize voting?

This will only incentivize uneducated / "random" voting, people will start voting for the first random guy thy find in order to get the "free money"

[gimme-free]

^^^^THIS^^^^^ This is a great idea! This along with making the voting interface much more user-friendly and show more info about what shareholders are voting for, I think can help in making this experiment work. I would support this fully.

[R]

If we make BTS holders eligible for profit-sharing/dividends, what are your thoughts on only distributing dividends to users who have recently participated in witness/committee voting? So as to incentivize voting?

[R]

Thrown together an additional BSIP 21 regarding the 'coin-age' statistic that both BSIPs 19 and 20 referenced: https://steemit.com/bitshares/@cm-steem/bsip-0021-draft-introducing-the-coin-age-statistic-to-bitshares-assets-input-would-be-massively-appreciated

I'd greatly appreciate input on the contents of these 3 BSIPs, I'll refine the BSIPs with your input.

Best regards,
CM

[R]

I have written up a draft BSIP-020 regarding profit-sharing for UIA tokens; previously BSIP-019 covered both MPA & UIA however it was suggested to split the BSIP so as to separate the different required functionality (minimizing confusion).

I would massively appreciate input on the BSIP.

https://steemit.com/bitshares/@cm-steem/bsip-020-draft-introducing-profit-sharing-dividends-to-bitshares-uia-only-input-would-be-massively-appreciated

Cheers,
CM.

[R]

Updated BSIP19 to focus on MPA tokens, looking for feedback. Thanks

https://steemit.com/bitshares/@cm-steem/bsip-019-updated-draft-introducing-profit-sharing-dividends-to-bitshares-mpa-only

https://github.com/grctest/bsips/blob/master/bsip-0019.md

[Permie]

I don't know what payouts are we talking about here if in another thread core bitshares dev complains that bitshares reserve can't afford hiring a team of devs to fix essential flaws.

It's absurd to suggest that the BTS DEX cannot afford developers, the reserve pool has hundreds of millions of Dollars in BTS at its disposal. The higher BTS gets in marketcap, the higher the reserve pool becomes.

So why not start spending these funds for hiring a team of professional developers first?

You don't hire someone without first coming up with tasks for them to perform. I have created a BSIP (working on splitting it in two), thus this feature request has taken a step towards potentially being developed.
Worker proposals can now be created from within the GUI, not just the CLI - we'll likely see more activity.
Point is, if someone's saying that we can't afford 'x' then they're wrong, people just need to take the initiative to work on proposals.

Thanks for your initiative Customminer

[R]

I don't know what payouts are we talking about here if in another thread core bitshares dev complains that bitshares reserve can't afford hiring a team of devs to fix essential flaws.

It's absurd to suggest that the BTS DEX cannot afford developers, the reserve pool has hundreds of millions of Dollars in BTS at its disposal. The higher BTS gets in marketcap, the higher the reserve pool becomes.

So why not start spending these funds for hiring a team of professional developers first?

You don't hire someone without first coming up with tasks for them to perform. I have created a BSIP (working on splitting it in two), thus this feature request has taken a step towards potentially being developed.
Worker proposals can now be created from within the GUI, not just the CLI - we'll likely see more activity.
Point is, if someone's saying that we can't afford 'x' then they're wrong, people just need to take the initiative to work on proposals.

[yvv]

I don't know what payouts are we talking about here if in another thread core bitshares dev complains that bitshares reserve can't afford hiring a team of devs to fix essential flaws.

It's absurd to suggest that the BTS DEX cannot afford developers, the reserve pool has hundreds of millions of Dollars in BTS at its disposal. The higher BTS gets in marketcap, the higher the reserve pool becomes.

So why not start spending these funds for hiring a team of professional developers first?

[R]

I don't know what payouts are we talking about here if in another thread core bitshares dev complains that bitshares reserve can't afford hiring a team of devs to fix essential flaws.

It's absurd to suggest that the BTS DEX cannot afford developers, the reserve pool has hundreds of millions of Dollars in BTS at its disposal. The higher BTS gets in marketcap, the higher the reserve pool becomes.

[yvv]

I don't know what payouts are we talking about here if in another thread core bitshares dev complains that bitshares reserve can't afford hiring a team of devs to fix essential flaws.

[pc]

What stops me from using my BTS for shorting bitassets into existence and keeping them in my wallet, with the goal of collecting dividends for them?

There's nothing preventing you locking up your BTS as smartcoins for the long term, by doing so you are removing BTS from the liquid supply and become eligible for earning dividends.

So... you don't solve the problem, but define it away instead?

To avoid abuse of this mechanism we could evaluate the average asset holdings since the last dividend payment or only allocate dividends for the time that these assets have been in an user's wallet for (if the user has held the coins 14 of 30 days in a 30day dividend schedule, they only receive the 14days worth of dividends).

This is the kind of suggestions that belongs into the bsip.

What you describe there is the exact situation that we had in BTS-1.0: people shorted bitassets into existence, keeping them to themselves, in order to earn the provided by other shorters.

The result is that the actual payouts per bitasset are diluted away. (And we're talking about very low payouts in the first place.)