Author Topic: Regulation-Proof, Self-Funding DACs (+ proposed PTS/AGS issuance %s)  (Read 9122 times)

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Offline CLains

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Offline gnarl

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less than 8 days left for the AGS snapshot .. maybe we should organize some crypto marketing to get PTS rise a little ... or maybe not :D

Thats not a bad idea, a few tweets might do it

Offline xeroc

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less than 8 days left for the AGS snapshot .. maybe we should organize some crypto marketing to get PTS rise a little ... or maybe not :D

Offline gnarl

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Offline serejandmyself

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The shares of the music DAC (called Notes) will be issued out with 45% going to BitShares PTS holders, 45% going to BitShares AGS holders and 10% going to the BitShares Music Foundation.

yhea!

tonyk rules !!!   :P

https://bitsharestalk.org/index.php?topic=9473.msg123166#msg123166  :D
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Offline liondani

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The shares of the music DAC (called Notes) will be issued out with 45% going to BitShares PTS holders, 45% going to BitShares AGS holders and 10% going to the BitShares Music Foundation.

yhea!

tonyk rules !!!   :P

Offline donkeypong

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I hear your concerns. I will start a new discussion on another proposed way to do it which I think would be best for everyone involved in the DAC. Let me start typing! gimme an few minutes (:

It's worth discussing and debating. However, I think that a discussion on the new delegate funding model already is taking place on the thread that BM started (which Cob referenced earlier). Let's make this thread a place to discuss anything specifically applicable to the Music DAC, which may include that funding model. Let's just make sure our comments here add something new, not simply duplicating the discussion that is going on right now in that other thread.

Offline cob

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I like using dilution to fund these important expenses (development, marketing, legal, etc.), but I really dislike bytemaster's solution to this.

This new version, which will be spearheaded and tested by BitShares Music, will allow delegates to make more than just the transaction fees, they will be able to do additional rounds of funding, as long as the shareholders agree and vote for it.

As long as they vote for it indirectly. I've discussed my concerns with this method here. I think dilution is a big deal that we shouldn't just allow to happen because a delegate was voted up to top 101 ranks. This should be a decision that I believe requires majority shareholder consensus. Also, I don't like that the delegates get to decide how to distribute the funds. I think it is best to keep the role of the delegates as minimal as possible: just what is necessary to keep the network running, votes updated, and generally maintaining consensus in the blockchain. We should just vote for delegates that we trust enough to keep the network operating and to not collude to break the consensus, do double-spends, etc. Even trusting them with price feeds is pushing the limit but is acceptable for now. I believe everything else, particularly deciding how to use funds for the betterment of the DAC and ecosystem, should be delegated to other entities (decided through proposals that are ratified by shareholder vote) who are specialized to handle that role.

So, I would like to see the ability for the shareholders to vote directly on proposals and require majority consensus anytime we change the rules of how quickly the money supply can be inflated (or even if we want to print a lump sum of stake to cover unexpected expenses, e.g. legal costs). Other proposals, such as how and who to distribute this printed money to, could be changed with less than majority consensus if desired in order to avoid gridlock on quickly making important decisions.

I agree 100% with this. I really don't have the feeling that this system is ready and it could put the whole Music DAC at risk.
I outlined my position in more detail https://bitsharestalk.org/index.php?topic=9452.msg122943#msg122943
A system like this needs a lot more discussion before it is ready for use in "the wild".

I hear your concerns. I will start a new discussion on another proposed way to do it which I think would be best for everyone involved in the DAC. Let me start typing! gimme an few minutes (:
Anything said on these forums does not constitute an intent to create a legal obligation or contract between myself and anyone else.   These are merely my opinions and I reserve the right to change them at any time.

Offline carpet ride

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+5% Turn it up to eleven!


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Offline Frodo

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I like using dilution to fund these important expenses (development, marketing, legal, etc.), but I really dislike bytemaster's solution to this.

This new version, which will be spearheaded and tested by BitShares Music, will allow delegates to make more than just the transaction fees, they will be able to do additional rounds of funding, as long as the shareholders agree and vote for it.

As long as they vote for it indirectly. I've discussed my concerns with this method here. I think dilution is a big deal that we shouldn't just allow to happen because a delegate was voted up to top 101 ranks. This should be a decision that I believe requires majority shareholder consensus. Also, I don't like that the delegates get to decide how to distribute the funds. I think it is best to keep the role of the delegates as minimal as possible: just what is necessary to keep the network running, votes updated, and generally maintaining consensus in the blockchain. We should just vote for delegates that we trust enough to keep the network operating and to not collude to break the consensus, do double-spends, etc. Even trusting them with price feeds is pushing the limit but is acceptable for now. I believe everything else, particularly deciding how to use funds for the betterment of the DAC and ecosystem, should be delegated to other entities (decided through proposals that are ratified by shareholder vote) who are specialized to handle that role.

So, I would like to see the ability for the shareholders to vote directly on proposals and require majority consensus anytime we change the rules of how quickly the money supply can be inflated (or even if we want to print a lump sum of stake to cover unexpected expenses, e.g. legal costs). Other proposals, such as how and who to distribute this printed money to, could be changed with less than majority consensus if desired in order to avoid gridlock on quickly making important decisions.

I agree 100% with this. I really don't have the feeling that this system is ready and it could put the whole Music DAC at risk.
I outlined my position in more detail https://bitsharestalk.org/index.php?topic=9452.msg122943#msg122943
A system like this needs a lot more discussion before it is ready for use in "the wild".

Offline mf-tzo

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I didn't see that coming at all!!!  +5% +5% +5%

I was thinking not to get much involved in music DAC due to lack of my free time, but your allocation just changed everything and gave me much more confidence about its success! I will find the extra time now. :)

Offline Ben Mason

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Mind-blowing.....Bitshares Music is about to Rock the World  +5%

Offline Overthetop

Could we set one superior limit of the dilution proportion of Music Nodes, like 100% something from the initial distribution?

I think that could help enhancing the confidence of the Music Nodes Holders.
« Last Edit: September 29, 2014, 08:30:30 am by Overthetop »
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The shares of the music DAC (called Notes) will be issued out with 45% going to BitShares PTS holders, 45% going to BitShares AGS holders and 10% going to the BitShares Music Foundation.

yhea!