Post
Topic
Board Altcoin Discussion
Re: BitShares? interesting ! bullish
by
inBitweTrust
on 21/10/2014, 21:53:13 UTC
Well alot of economists say the perfect currency is one that ties supply equilibrium to that of real growth (GDP). This tries to do that in a democratic way. It's not to say that votes can't be delegated to someone making it for you, but the ability as a shareholder to vote on these things is what seperates it from our system today...

Aren't most Fiat currencies inflationary DPoS currencies as well? Citizens vote for "representatives" who than delegate officials to set monetary policy on an inflationary currency that isn't tied to anything like electricity or hashing power.

It can't grow supply and thus people will only spend when they have to... its very deflationary... if we change our economic framework to model it after bitcoin sure... if we want to adapt both ways without turning the world upside down I think both can work in unison... bitcoin functions as gold/currency and shares for exchanging things...

Transaction volume actually increases when a deflationary bubble occurs in Bitcoin as proven by bitpay. Why do we need to change our economic framework when we can allow inflationary and deflationary currencies to coexist and compete in the marketplace?


I don't know how you think bitcoin raises funds to be able to comment on what the differences are between raising funds in bitshares vs bitcoin.... The major difference I see is that funds are raised by consensus and not by individuals in power.

Within Bitcoin development is done by:
1) Volunteers (The open source ecosystem is large enough for a critical mass of developers to be interested in working on it for free)
2) For profit Companies paying for development. some of which is for their own products and some of which is given away to support the ecosystem.
3) Donations to non-profits that pay for donors

With Bitshares almost all of the development is done by a group of developers being paid by an initial IPO, and now this further dilution.

Both Bitshares and Bitcoin are also funding development by the vested interests of early stakeholders supporting the ecosystem to further increase the value of their investments. Within Bitcoin there never was an IPO or change in the protocol for capital infusion. This is a critical difference as the rewards for development with Bitcoin are only tied directly to the success of the ecosystem and a failure in the development or ecosystem penalizes all their work. With Bitshares Invictus wins if bitshares fails, more if it succeeds, and even more it it succeeds and they can convince the investors to pay by  decreasing their stake along the way.