I know it's not really supposed to be fully decentralised and all but this is pretty ridiculous. I was warming up a lot to BTS recently but seeing this is kind of weird. This is the type of thing that people will always post a link to whenever someone brings up or recommends BTS.
I have been there since the beginning and these little tweaks are constantly happening.
As I have always stated, the core idea and original BitShares X is awesome.
But,
They diluted the shares adding 500 million more BTS so Bytemaster wouldn't leave to create a competing BitShares. Well uh, he's the guy that started BitShares. Why would he even think about leaving his project after collecting millions of dollars in BTC, PTS and subsequently BTS by way of PTS? Because he wanted more money. The shares he received from the Donations weren't enough.
Now that dilution happened because no one wanted Bytemaster to jump ship, they decided to further dilute by way of inflation and giving special delegates, the Devs, 50 BTS per block which is around 4277 per day, equal to 130K per month, equal to 1.56 million BTS per year per delegate all because the Devs wanted more money.
The statement about Bytemaster being greedy is complete bullshit. He didn't reserve himself any rights he did not reserve others. He get the same compensation as the other Devs. Developers have to be compensated somehow and paying them by newly issued shares (only max 6% per year; at the moment it is less then 1% dilution per year to pay for development!!). Please present facts in perspective.
The problem I have with how you present things is that it is entirely one sided, sometimes misleading (like in this thread) and I not once heard you say how to resolve trade off issues. The development funding challenge for example: You complain about dilution to fund development all day (keep in mind it is ~ 1% dilution atm only) but never make a proposal how you would approach the problem. Would you suggest that all 10 highly qualified developers should work for free?
On the merger you mentioned (500m new BTS): You should look more closely and present things as they are: There where two types of AGS donations: (1) AGS donations before Feb 28th (2) AGS donations after Feb. 28th (BTS Snapshot). Group (1) donators got BTS. Group (2) should have gotten all other DACs (a Domain name DAC for example) Bytemaster was planning. Bytemaster realized that those different DACs might end up competing with each other and divide his loyalty. Therefore there was a merger of group (1) and group (2) AGSers so that AGS, PTS, the VOTE DAC and the DNS DAC got the new BTS (20% dilution). In return DNS and VOTE were integrated into BTS and Bytemaster is only working on one project now as opposed to many as planned initially. That all made BTS more valuable but was not communicated well.
You are a funny guy but you seem hate driven.