Quote from: bluemeanie1 on October 21, 2014, 08:03:07 PM

a thread on some criticisms of Bitshares

Yes, because people give a damn what bluemeanie of all people has to say on the subject...

Quote from: inBitweTrust on October 21, 2014, 07:56:56 PM

There are good things and bad things about this maneuver. I do believe that clarification is certainly a good thing for bitshares as the whole AGS/PTS/BTSX/BitUSD and all the assets was entirely overly complicated mess.... but there are bad things as well. What do you think about the negatives?

I honestly don't see any of the negatives. The merger is a great way to keep developer focus on one DAC (instead of competing DAC's that would likely cannibalize each other) while tremendously streamlining the confusing naming system that was going on. In regards to dilution, I feel it is necessary to a certain extent in order to keep BitShares growing -- all dilution is up to the shareholders to vote on, and no one will vote for dilution if it doesn't increase the DAC's profitability.

It is important to step out of the mindset of just being another "currency", and look at it like a company, as companies issue new shares all the time to increase profitability for the shareholders. This is a much more transparent/decentralized form of that.

And comparing to Bitcoin -- the profits for the BitShares DAC go directly back to the shareholders in the form of burn or are used to continue building the DAC. Bitcoin bleeds millions through the mining process, and none of that money is ever put back into the BTC ecosystem. That is why I have so much faith in BitShares' future -- the economics are sound.