Author Topic: suggestion on new OMO fund  (Read 4252 times)

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Offline George_Bitspark

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Re: suggestion on new OMO fund
« Reply #15 on: September 06, 2019, 01:43:56 am »
No, this is a terrible idea, the OMO was already a failure and doubling down on failure is not a recipe for success. Focus less on trying to control the price (and being bad at that) and more on bringing new business and users to Bitshares- thats how you grow the price. With workers de-funded, no core or UI team why would anyone buy bitshares right now? There is a choice of many tokens to buy, many have active development, Bitshares does not, nobody would want to buy a token with no future.

Committee is not a slush fund, they exist only to adjust on chain parameters.
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Offline binggo

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Re: suggestion on new OMO fund
« Reply #16 on: September 06, 2019, 02:07:15 am »
There is a choice of many tokens to buy, many have active development.

Which and where their fund come from?

The core and UI only is worker, can vote in and out by the holder, the holder have the right to vote what they think is right.

Do you think the holder didn't have the right to vote? or the vote is shit?

If the income can't cover these worker, only can support the pay of the witenss,why the holder should give a vote to these and where the fund come from to support these worker or use the further issue token forever like a baby.

If the price went down and down, who want to buy it, and you have the active development, the people will buy it?!

Did the XRP have a active development? the UI of XRP just like a shit,people still want to buy it.

TRX and BTT have a active development,should we go to buy them? ;)

Or all we should buy BITCOIN?

If we can't make a good Cash Flow,what we say and talk about is nothing.
« Last Edit: September 06, 2019, 03:21:04 am by binggo »

Offline fractalnode

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Re: suggestion on new OMO fund
« Reply #17 on: October 17, 2019, 08:50:38 pm »
committee are now continuously buying BTS with the accumulated market fees, and now there is more than 5M BTS in committee-account.
how to use these BTS? just leave them there? or burn them as someone suggested?
Why not mint smartcoins and release to the market? Can we find a way to maintain a debt position with enough safety margin?if we can, why not do that?
there is no working agreement between voters and worker proposal owners, every worker proposal owner should be aware that the worker may be voted down, I cannot suggest a man with serious illness to sell blood without stop.
If BTS price fall to zero, any worker will make no sense.

I'd send those BTS back to the reserve pool, the BTS quantity chart in the reserve pool is constantly falling. We should aim to maintain a ratio of 1/3 (reserve pool) to 2/3 (BTS in circulation)
But from now on I would accumulate these bitAssets and add them to the budget for further development (Worker Proposal System) - I would treat this fund as an additional one.
All funds accumulated in the form bitAsset other than bitCNY should be exchanged to bitCNY on DEX and then bitCNY should be sent outside DEX and sold on external CEX to pay salaries.
It is in our interest that as much bitCNY as possible exists in circulation on external exchanges.