Author Topic: consideration on buybacks and other hot issues  (Read 7254 times)

0 Members and 1 Guest are viewing this topic.

Offline tonyniu352

  • Newbie
  • *
  • Posts: 11
    • View Profile
consideration on buybacks and other hot issues
« on: October 27, 2019, 09:58:37 am »
Introduction

In the thread post by bitcrab[2], it was proposed to discuss how to use committee fund to buyback. In this thread, I provide some discussion on buybacks and other hot issues like voting, feed-price, workers etc.

 

DECISION BY VOTING

In the BTS system, voting rights are property attributes integrated into every BTS token. According to the following description of [1], as a DPOS system,”The Bitshares blockchain leverages the power of stakeholder approval voting, to resolve consensus issues in a manner which is democratic and fair”. “With this delegated Proof-of-Stake, we can truly say that the administrative authority is fully decentralized and in the hands of the users (BTS token holders), and not the delegates nor the witnesses”. However, how would we know if users (BTS holders) made the “right” decision by voting? For human-being, most people allow impressions, emotions, own benefit, or other pressure forces to influence them. The citizens of the United Kingdom (UK) voted to leave the European Union, Who knows if BREXIT(British Exit) was the right decision. The American people voted for Trump and rejected Hillary, but who knows whether it is a “right” decision to choose trump. People may have different opinions about the same thing, and there is absolutely no golden rule which helps we achieve the consensus all the time, the only way to find out is to make a voting and see how it turns out. Voting is a method for a group to make a collective decision or express an opinion, furthermore, the most important of voting is to reflect the will of the majority and make decisions according to the majority, not to make the “right” decisions.

Observation1: The administrative authority is fully decentralized and in the hands of the users (BTS token holders) by voting method, the voting is to reflect the will of the majority and make decisions according to the majority.

 

CONSTITUTION OF DPOS

The consensus protocol of bitshares by integrating voting rights into every BTS token is designed to protect all participants in a free and fair, transparent environment. Since bitshares network launch in 2014, undoubtedly, in the “law” system of bitshares, the voting “law” is the constitution and fundamental “law”. Unlike other application level “law” which tends to change gradually, continually, and often imperceptibly, in response to changing needs, the constitution shall be harder to change. Furthermore, in bitshares system, even those “Non-constitutional” changes are contingent upon stakeholder approval so as to ensure that no individual has unilateral control over the direction of the network. It was noticed in some BSIP discussions, there have been attempts by developers (or member of workers) to modify the BTS voting mechanism e.g. removing debt voting, and we would like to kindly remind to stop this behavior because it may cause serious chaos like a storm. Voting power is the constitution. Voting power is also property attribute attached to every bitshares token, it is illegal to infringe the property of bitshares holder. In fact, the idea of removing debt voting is stupid and rude. In stock market, Signing the pledge doesn't affect any voting rights the stock gives, and whether stockholders buy stocks from cash or debts or loans obtained from pledged stocks, the stocks they hold have same voting rights.

Observation2: the consensus protocol of bitshares by integrating voting rights into every BTS token is the constitution, which shall be harder to change. Any attempts to modify the BTS voting mechanism e.g. removing debt voting are illegal, and shall be stop.

 

SHARE BUYBACKS

Part of the bitshares system's income, such as part of the referral rewards, fees, and other income will go to the fund of committee-account, and it is obvious that the fund belongs to all bitshares holder and not to someone. How to use this fund could be decided by voting elected delegates (Committee), but those decisions also contingents upon bts holder approval. If the committee cannot reach a consensus, then bitshares holders can call a vote on how to use the fund and authorize/or request the committee to act. In the thread post by bitcrab[2], it was proposed to discuss how to use committee fund to buyback. It is a very normal proposal which reflects the will of many bitshares holders, but it has been questioned by someone as gambling. Stockshare buybacks is a technique used to increase shareholder value and provide investors with a return, and a company can fund its buyback by taking on debt or with its cash flow from operations. According to the following description of [3], Companies are ramping up share buybacks in the U.S. stock market, and they’re increasingly using debt to do so. The U.S. companies are on pace to break another record for share repurchases in 2019, using a combination of cash and debt to push the total to close to $1 trillion. Similarly with stock market, we also found a lot of exchanges of cryptocurrency tokens such as Binance repurchase their platform tokens to burn to make the remaining tokens more valuable. Bitshares token has not brought gains for investors for a long time, taking this into account, it is benefit to request committee to process buybacks program. The committee can fund its buyback by taking on debt or with its income flow from operations. If the committee cannot determine the final buybacks program, the bitshares holders can call a vote on buybacks program and request the committee to act.   

Observation3: The committee can fund its buyback by taking on debt or with its income flow from operations. If the committee cannot determine the final buybacks program, the bitshares holders can call a vote on buybacks program and request the committee to act.

 

FEED PRICE

In china, a lot of individual investors also enter the futures market, which is very different from the western market. However, individual investors and institutional investors are not balanced in terms of financial strength, and manipulation of settlement price by financial strength often happens. So, in china, all futures exchanger determine the future settlement price by taking the volume weighted average price during a trading day, so as to effectively prevent the risk of market manipulation (The detail can be found in[4]). For the BTS system, investors' debt holdings are completely exposed to CEX, and there is a complete imbalance between individual investors and CEX. Furthermore, in order to get a lot of shorting interest, some CEX used to sell fake BTS to cause the price to fall sharply which influence the trading price of BTS in all markets, and trigger a series of BTS debt explosive .Considering the above discussion, it is necessary to introduce some enhanced feed price algorithm in bitshares. For example, the feed price is the larger one selected between the average value during a period of time and the current value ,so as to resist price manipulation and improve the price recovery ability of BTS.

Observation4: It is necessary to introduce some enhanced feed price algorithm in bitshares, so as to resist price manipulation due to shorting and improve the price recovery ability of BTS.

 

WORKERS

Since BM left, the development of BTS is mainly undertaken by some workers. These workers are very important to BTS, and the active gratitude towards work of these workers is very appreciated by us. But on the other hand, these workers have already paid a considerable amount of money, The BTS reserve pool is used to pay workers. Now, the current situation is that, although the volume and activity on the BTS chain is not bad, but the BTS market value ranking is from the highest fourth place to the lower 50th in the past few years, and BTS technology is no longer so attractive compared with other competitors. While BTS is no longer a hot cryptocurrency and BTS investors are not getting any returns, BTS worker is certainly a much hotter business than before. The expenditure of the BTS system exceeds most of the other cryptocurrency, the BTS workers have been paid more nearly 27 million CNY (4 million USD)this year (THANK for refound400k). A Nobel Prize is only about 6 million CNY, and 4 Nobel prizes can be awarded with the expenses of BTS in this years. Development needs to be paid, translation needs to be paid, marketing needs to be paid, meetings need to be paid, papers need to be paid, documents need to be paid, and these expenses are more and more. so the expenses budget must be controlled and adjusted. BTS workers are actually a business now, but lack of management of workers, such as the same work needs to introduce multiple workers to compete, workload evaluation and project acceptance etc. Therefore, it is suggested that, until the management of relevant workers is improved, other workers will be deactivated for a period of time except for necessary worker such as network maintenance, core bug fixing, which will be funded. There may be some BTS holders who are worried about the negative impact on the BTS system introduced by suspending some workers. In fact, lots of the open source softwares on github are developed free by developers, and these softwares are also very successful. Even if BTS spending is reduced, we also believe that developers who love BTS will be willing to join the development. However, The wages of all workers are actually paid by all BTS holders, therefore BTS holders have right to vote on Refund workers to return the pay of other workers to the reserve pool, and introduce a threshold how much votes a worker needs to be active.

Observation5: the expenses budget must be controlled and adjusted. The wages of all workers are actually paid by all BTS holders, and BTS holder have right to vote on Refund workers to return the pay of other workers. We hope that more BTS holder can support refound400k.

 

 

References

[1] https://bitshares.org/technology/delegated-proof-of-stake-consensus/

[2] https://bitsharestalk.org/index.php?topic=29603.0

[3] https://www.cnbc.com/2019/07/29/buybacks-companies-increasingly-using-debt-to-repurchase-stocks.html

[4] https://baike.so.com/doc/6777843-6993814.html

 
« Last Edit: November 07, 2019, 12:04:32 am by tonyniu352 »

Offline tonyniu352

  • Newbie
  • *
  • Posts: 11
    • View Profile
Re: consideration on buybacks and other hot issues
« Reply #1 on: October 27, 2019, 11:20:59 am »
chinese version  ,google translate -(中文版本,机翻)

考虑回购和其他热点问题

介绍
在bitcrab发表的主题[2]中,有人建议讨论如何使用委员会资金进行回购。在这个主题中,我将讨论回购和其他热门问题,例如投票,喂价,worker等。

投票决定
在BTS系统中,投票权是集成到每个BTS令牌中的属性。根据以下对[1]的描述,作为DPOS系统,“ Bitshares区块链利用利益相关方批准投票的权力,以民主,公平的方式解决共识问题”。 “有了委托的股权证明,我们可以真正地说出,行政权力是完全分散的,并由用户(BTS代币持有人)而不是代表或见证人掌握”。但是,我们如何知道用户(BTS持有者)是否通过投票做出了“正确”的决定?对于人类而言,大多数人都允许印象,情感,自身利益或其他压力影响它们。英国(UK)的公民投票决定离开欧盟,谁知道BREXIT(英国出口)是否是正确的决定。美国人民投票支持特朗普并拒绝了希拉里,但谁知道选择特朗普是否是“正确”的决定。人们对同一件事可能有不同的意见,并且绝对没有任何黄金法则可帮助我们始终达成共识,唯一的发现方法是进行投票并查看结果。投票是一种团体做出集体决定或表达意见的方法,此外,投票最重要的是反映多数人的意愿并根据多数人做出决定,而不是做出“正确”的决定。
观察1:行政权力完全下放,以投票方式在用户(BTS代币持有者)手中,投票是为了反映多数的意愿并根据多数做出决定。

DPOS的构成
通过将投票权集成到每个BTS令牌中来达成比特共享共识协议,旨在保护一个自由,公平,透明的环境中的所有参与者。自从2014年比特股网络启动以来,毫无疑问,在比特股“法律”体系中,投票“法律”是宪法和基本的“法律”。不同于其他应用程序级别的“法律”会根据不断变化的需求而逐渐,连续且经常不知不觉地对其进行更改,其构造将更难更改。此外,在比特股系统中,即使是那些“非宪法性”的变化也要取决于利益相关者的批准,以确保没有人对网络的方向具有单方面的控制权。在一些BSIP讨论中注意到,开发人员(或工作人员)曾试图修改BTS投票机制,例如取消债务投票,我们谨提醒您停止这种行为,因为这可能会导致严重的混乱,例如风暴。投票权是宪法。投票权也是每个bitshares令牌附带的财产属性,侵犯bitshares持有人的财产是非法的。实际上,取消债务投票的想法是愚蠢和粗鲁的。在股票市场上,签署保证书不会影响股票所赋予的任何投票权,无论股东是从现金还是从债务中购买股票还是从已抵押股票获得贷款,他们所持有的股票都具有相同的投票权。
观察2:通过将投票权集成到每个BTS令牌中来达成比特份额的共识协议是宪法,这将更难更改。尝试修改BTS投票机制的任何尝试,例如取消债务投票是非法的,应予以停止。

回购
比特股系统的部分收入,例如推荐奖金,费用和其他收入的一部分,将进入委员会帐户的基金,很明显,该基金属于所有比特股所有者,而不是某人。可以通过选举民选代表(委员会)来决定如何使用这笔资金,但是这些决定还取决于获得BTS持有人的批准。如果委员会无法达成共识,则比特股持有人可以就如何使用该基金以及授权/或要求委员会采取行动进行投票。在bitcrab发表的主题[2]中,有人建议讨论如何使用委员会资金进行回购。这是一个非常正常的提议,反映了许多比特股持有者的意愿,但是有人质疑它是赌博。股票回购是一种用于增加股东价值并为投资者提供回报的技术,公司可以通过承担债务或运营现金流来为其回购提供资金。根据下面对[3]的描述,公司正在加大在美国股票市场上的股票回购,并且他们越来越多地利用债务来回购股票。美国公司正在努力打破2019年股票回购的新纪录,利用现金和债务相结合的方式将总回购额接近1万亿美元。与股票市场类似,我们还发现许多加密货币令牌交换,例如币安回购了其平台令牌以销毁,以使剩余的令牌更有价值。考虑到这一点,Bitshares代币很长时间没有为投资者带来收益,因此要求委员会处理回购计划是有益的。该委员会可以通过承担债务或从运营中获得收入来为其回购提供资金。如果委员会无法确定最终的回购计划,则比特股持有人可以对回购计划进行投票,并要求委员会采取行动.
观察3:委员会可以通过承担债务或利用其来自运营的收入流为回购提供资金。如果委员会无法确定最终的回购计划,则比特股持有人可以对回购计划进行投票,并要求委员会采取行动。

喂价
在中国,很多个人投资者也进入期货市场,这与西方市场有很大的不同。但是,个人投资者和机构投资者的财务实力不平衡,经常发生财务实力对结算价格的操纵。因此,在中国,所有的期货交易者都以交易日的交易量加权平均价格来确定期货结算价格,从而有效地防止了市场操纵的风险(详见[4])。对于BTS系统,投资者的债务持有量完全暴露于CEX,而个人投资者和CEX之间完全不平衡。此外,为了获得大量的做空利益,一些CEX曾经通过出售假BTS导致价格急剧下跌,从而影响了BTS在所有市场上的交易价格,并引发了一系列BTS债务爆炸事件。因此有必要在位共享中引入一些增强喂价算法。例如,喂价价格是一段时间内的平均值和当前值之间较大的一个,以抵抗价格操纵并提高BTS的价格恢复能力。
观察4:有必要在比特份额中引入一些增强的喂价算法,以抵抗由于做空造成的价格操纵并提高BTS的价格恢复能力。

WORKERS
自从BM离开后,BTS的开发主要由一些WORKER来承担。这些WORKER对BTS非常重要,我们对这些WORKER的工作表示积极的感谢。但另一方面,这些WORKER已经支付了可观的钱,BTS储备池用于支付WORKER。现在的情况是,尽管BTS链的数量和活动情况还不错,但是BTS市场价值排名在过去几年中从最高的第四位降至较低的第50位,而BTS技术不再如此与其他竞争对手相比更具吸引力。虽然BTS不再是热门的加密货币,并且BTS投资者没有获得任何回报,但BTS WORKER无疑是比以前更热门的生意。 BTS系统的支出超过了其他大多数加密货币,BTS工人去年获得的收入超过4000万元人民币(600万美元),今年已获得近2700万元人民币(400万美元)的收入(这还得感谢refound400k)。诺贝尔奖大约只有600万元人民币,而这两年的BTS费用可奖励10项诺贝尔奖。开发需要付费,翻译需要付费,营销需要付费,会议需要付费,论文需要付费,文档需要付费,并且这些费用越来越多。在过去的两年中,市场上出售了近2亿枚BTS代币,以支付工人工资。按照当前的支出率,剩余的储备金可能会在三到四年内用完,因此必须控制和调整支出预算。 BTS WORKER实际上已经是一门生意,但是缺乏WORKER管理,例如同一工作需要引入多个WORKER进行竞争,工作量评估和项目验收等。因此,建议在改善相关WORKER的管理之前,其他WORKER将在一段时间内停用,但必要的工作(例如网络维护,核心错误修复)还将得到资助。可能有些BTS持有人担心由于暂停某些WORKER而对BTS系统产生负面影响。实际上,github上的许多开源软件都是由开发人员免费开发的,并且这些软件也非常成功。即使减少BTS支出,我们也相信热爱BTS的开发人员将愿意加入该开发。无论如何,所有WORKER的工资实际上是由所有BTS持有者支付的,因此BTS持有者有权对退款WORKER进行投票,以将其他工人的工资返还给储备金池,并设定一个阈值,确定一个WORKER需要活跃多少票。
观察5:按目前的支出率,剩余的储备金可能会在三到四年内用完,因此必须控制和调整支出预算。所有工人的工资实际上是由所有BTS持有者支付的,BTS持有者有权对退款工人进行投票,以退还其他工人的工资。我们希望更多的BTS持有者能够支持refound400k。

Offline pc

  • Hero Member
  • *****
  • Posts: 1521
    • View Profile
    • Bitcoin - Perspektive oder Risiko?
  • BitShares: cyrano
Re: consideration on buybacks and other hot issues
« Reply #2 on: October 27, 2019, 02:00:29 pm »
Observation1: The administrative authority is fully decentralized and in the hands of the users (BTS token holders) by voting method, the voting is to reflect the will of the majority and make decisions according to the majority.

That's the way it *should* be. However, the truth is that a single person is refusing others the right to propose changes and have the community vote for it. https://github.com/bitshares/bsips/pull/249

tl;dr: Some members of the Core Team have (on their own time) discussed the recently observed governance problems, and have come up with a proposal that tries to rectify the situation. After some discussion and various amendments, the proposal was merged last friday. Shortly thereafter, the proposal was reverted single-handedly by an individual. Furthermore, said individual has removed write access to the BSIPs repository for most members of the Core Team.

It is noteworthy that the management of the BSIP process is explicitly listed as a task in the Core Worker Proposal, which was voted on and accepted by the community.

It is also noteworthy that the same individual who is now complaining about said BSIP pushed through a different proposal without any discussion just a couple of weeks ago.

Decentralization my ass.


Observation2: Any attempts to modify the BTS voting mechanism e.g. removing debt voting are illegal, and shall be stop.

This is not an observation, it's an opinion. Others may disagree.
Bitcoin - Perspektive oder Risiko? ISBN 978-3-8442-6568-2 http://bitcoin.quisquis.de

Offline R

  • Hero Member
  • *****
  • Posts: 757
    • View Profile
Re: consideration on buybacks and other hot issues
« Reply #3 on: October 27, 2019, 06:26:34 pm »
FEED PRICE

In china, a lot of individual investors also enter the futures market, which is very different from the western market. However, individual investors and institutional investors are not balanced in terms of financial strength, and manipulation of settlement price by financial strength often happens. So, in china, all futures exchanger determine the future settlement price by taking the volume weighted average price during a trading day, so as to effectively prevent the risk of market manipulation (The detail can be found in[4]). For the BTS system, investors' debt holdings are completely exposed to CEX, and there is a complete imbalance between individual investors and CEX. Furthermore, in order to get a lot of shorting interest, some CEX used to sell fake BTS to cause the price to fall sharply which influence the trading price of BTS in all markets, and trigger a series of BTS debt explosive .Considering the above discussion, it is necessary to introduce some enhanced feed price algorithm in bitshares. For example, the feed price is the larger one selected between the average value during a period of time and the current value ,so as to resist price manipulation and improve the price recovery ability of BTS.

Observation4: It is necessary to introduce some enhanced feed price algorithm in bitshares, so as to resist price manipulation due to shorting and improve the price recovery ability of BTS.
Would a 1-2d moving average price feed be enough? Considering BSIP76 has been active for more than a full month now?
« Last Edit: October 27, 2019, 07:24:46 pm by R »

Offline 小宁大大

  • Full Member
  • ***
  • Posts: 95
    • View Profile
Re: consideration on buybacks and other hot issues
« Reply #4 on: October 29, 2019, 03:02:38 pm »
Bsip83 should not exist

Offline tonyniu352

  • Newbie
  • *
  • Posts: 11
    • View Profile
Re: consideration on buybacks and other hot issues
« Reply #5 on: October 30, 2019, 12:12:13 am »
Observation1: The administrative authority is fully decentralized and in the hands of the users (BTS token holders) by voting method, the voting is to reflect the will of the majority and make decisions according to the majority.

That's the way it *should* be. However, the truth is that a single person is refusing others the right to propose changes and have the community vote for it. https://github.com/bitshares/bsips/pull/249

tl;dr: Some members of the Core Team have (on their own time) discussed the recently observed governance problems, and have come up with a proposal that tries to rectify the situation. After some discussion and various amendments, the proposal was merged last friday. Shortly thereafter, the proposal was reverted single-handedly by an individual. Furthermore, said individual has removed write access to the BSIPs repository for most members of the Core Team.

It is noteworthy that the management of the BSIP process is explicitly listed as a task in the Core Worker Proposal, which was voted on and accepted by the community.

It is also noteworthy that the same individual who is now complaining about said BSIP pushed through a different proposal without any discussion just a couple of weeks ago.

Decentralization my ass.


Observation2: Any attempts to modify the BTS voting mechanism e.g. removing debt voting are illegal, and shall be stop.

This is not an observation, it's an opinion. Others may disagree.


I have checked bsip83. Does anyone really think it will be approved? transfering bts voting right to another token? it is ass idea. Frankly, BTS has been runned for five or six years, and some people are trying to change voting rights now,just because BTS holders are complaining more and more about expenses of workers?  i worry about the professional spirit of these guys.

Offline twitter

  • Sr. Member
  • ****
  • Posts: 238
    • View Profile
Re: consideration on buybacks and other hot issues
« Reply #6 on: October 30, 2019, 01:01:26 am »
Bsip83 is trying to rape bts holders. 
witness:

Offline bench

Re: consideration on buybacks and other hot issues
« Reply #7 on: October 30, 2019, 12:20:07 pm »
Frankly, BTS has been runned for five or six years, and some people are trying to change voting rights now,just because BTS holders are complaining more and more about expenses of workers?

We change only voteing rights for bitAssets, because BTS is now abused for this. Because we know now better, than 5 years ago, changes are needed for governance.


Bsip83 is trying to rape bts holders.

No, BSIP83 tries to separate the BitShares core management from the bitAssets management, to improve governance and reduce shit show.
The value of BTS is not reduced, but new value is generated with bitAsset.management (e.g. MAKER).
Nobody has a disadvantage, because every BTS holder gets the same amount of bitAsset.management tokens.

Your arguments?

« Last Edit: October 30, 2019, 11:16:30 pm by bench »
Be part of the change and vote for the bitshares-vision proxy!

Offline pc

  • Hero Member
  • *****
  • Posts: 1521
    • View Profile
    • Bitcoin - Perspektive oder Risiko?
  • BitShares: cyrano
Re: consideration on buybacks and other hot issues
« Reply #8 on: October 30, 2019, 01:48:09 pm »
Bsip83 should not exist

I have checked bsip83. it is ass idea.

Bsip83 is trying to rape bts holders. 

Regardless of what you think about BSIP-83, an organization that calls itself "decentralized" cannot allow a single person to control the voting.
Bitcoin - Perspektive oder Risiko? ISBN 978-3-8442-6568-2 http://bitcoin.quisquis.de

Offline Thul3

  • Sr. Member
  • ****
  • Posts: 359
    • View Profile
Re: consideration on buybacks and other hot issues
« Reply #9 on: October 30, 2019, 03:17:28 pm »
Bsip83 should not exist

I have checked bsip83. it is ass idea.

Bsip83 is trying to rape bts holders. 

Regardless of what you think about BSIP-83, an organization that calls itself "decentralized" cannot allow a single person to control the voting.

Wasn't it merged to early ?

Offline ljk424

  • Sr. Member
  • ****
  • Posts: 332
    • View Profile
  • BitShares: ljk424
Re: consideration on buybacks and other hot issues
« Reply #10 on: October 30, 2019, 03:27:04 pm »
Observation1: The administrative authority is fully decentralized and in the hands of the users (BTS token holders) by voting method, the voting is to reflect the will of the majority and make decisions according to the majority.

That's the way it *should* be. However, the truth is that a single person is refusing others the right to propose changes and have the community vote for it. https://github.com/bitshares/bsips/pull/249

tl;dr: Some members of the Core Team have (on their own time) discussed the recently observed governance problems, and have come up with a proposal that tries to rectify the situation. After some discussion and various amendments, the proposal was merged last friday. Shortly thereafter, the proposal was reverted single-handedly by an individual. Furthermore, said individual has removed write access to the BSIPs repository for most members of the Core Team.

It is noteworthy that the management of the BSIP process is explicitly listed as a task in the Core Worker Proposal, which was voted on and accepted by the community.

It is also noteworthy that the same individual who is now complaining about said BSIP pushed through a different proposal without any discussion just a couple of weeks ago.

Decentralization my ass.


Observation2: Any attempts to modify the BTS voting mechanism e.g. removing debt voting are illegal, and shall be stop.

This is not an observation, it's an opinion. Others may disagree.


I have checked bsip83. Does anyone really think it will be approved? transfering bts voting right to another token? it is ass idea. Frankly, BTS has been runned for five or six years, and some people are trying to change voting rights now,just because BTS holders are complaining more and more about expenses of workers?  i worry about the professional spirit of these guys.
I think you are right. Some people want to deprive bts holders of their voting rights.It’s really shameful.

Offline pc

  • Hero Member
  • *****
  • Posts: 1521
    • View Profile
    • Bitcoin - Perspektive oder Risiko?
  • BitShares: cyrano
Re: consideration on buybacks and other hot issues
« Reply #11 on: October 30, 2019, 04:07:54 pm »
Wasn't it merged to early ?

No. The reason for reverting it was https://github.com/bitshares/bsips/pull/238#issuecomment-546452565

Quote
Transferring voting rights from BTS to another token is not acceptable and should never be an option. PR reverted.

The PR had seen much discussion over a period of two weeks. Many comments from various parties were addressed. No further comments were received for two days before the merge.

Compare this with BSIP-76, which was created, approved and merged within 17 hours. Community comments were completely ignored.
« Last Edit: October 30, 2019, 04:27:40 pm by pc »
Bitcoin - Perspektive oder Risiko? ISBN 978-3-8442-6568-2 http://bitcoin.quisquis.de

Offline bench

Re: consideration on buybacks and other hot issues
« Reply #12 on: November 01, 2019, 01:28:00 am »
Observation4: It is necessary to introduce some enhanced feed price algorithm in bitshares, so as to resist price manipulation due to shorting and improve the price recovery ability of BTS.
I agree here, a new concept for price feeds is needed.

Price feeds based on different EMAs and smartcoin market metrics showed the best performance so far.  A new baips is in the work for this.
Be part of the change and vote for the bitshares-vision proxy!

Offline tonyniu352

  • Newbie
  • *
  • Posts: 11
    • View Profile
Re: consideration on buybacks and other hot issues
« Reply #13 on: November 02, 2019, 01:58:41 pm »

Bsip83 is trying to rape bts holders.

No, BSIP83 tries to separate the BitShares core management from the bitAssets management, to improve governance and reduce shit show.
The value of BTS is not reduced, but new value is generated with bitAsset.management (e.g. MAKER).
Nobody has a disadvantage, because every BTS holder gets the same amount of bitAsset.management tokens.

Your arguments?

in short , it is "TRANSFERING BTS VOTING RIGHT TO OTHER TOKEN".  Is there anything I missed? Yes, i forgot that I could get an  airdrop of ass.management tokens.
« Last Edit: November 02, 2019, 02:00:38 pm by tonyniu352 »

Offline tonyniu352

  • Newbie
  • *
  • Posts: 11
    • View Profile
Re: consideration on buybacks and other hot issues
« Reply #14 on: November 02, 2019, 02:38:05 pm »
Observation1: The administrative authority is fully decentralized and in the hands of the users (BTS token holders) by voting method, the voting is to reflect the will of the majority and make decisions according to the majority.

That's the way it *should* be. However, the truth is that a single person is refusing others the right to propose changes and have the community vote for it. https://github.com/bitshares/bsips/pull/249

tl;dr: Some members of the Core Team have (on their own time) discussed the recently observed governance problems, and have come up with a proposal that tries to rectify the situation. After some discussion and various amendments, the proposal was merged last friday. Shortly thereafter, the proposal was reverted single-handedly by an individual. Furthermore, said individual has removed write access to the BSIPs repository for most members of the Core Team.

It is noteworthy that the management of the BSIP process is explicitly listed as a task in the Core Worker Proposal, which was voted on and accepted by the community.

It is also noteworthy that the same individual who is now complaining about said BSIP pushed through a different proposal without any discussion just a couple of weeks ago.

Decentralization my ass.


Observation2: Any attempts to modify the BTS voting mechanism e.g. removing debt voting are illegal, and shall be stop.

This is not an observation, it's an opinion. Others may disagree.

It's a argument in your core team, not about centralization or decentralization. From my point of view, your story could be described as another way, someone of the Core Team strongly disagreed with this BSIP (or disagreed with some idea in this BSIP), but other members of the team  ignored his opinion and try to enforce merge.  "someone’ considered that the BSIP was so ridiculous , then he decided to interrupt the process of the BSIP, in order to avoid the whole team being a laughing stock.