Post
Topic
Board Bitcoin Discussion
Re: $5000 per coin will never happen if PoW mining is allowed to continue
by
kokojie
on 23/10/2014, 20:16:25 UTC
But I don't like you spreading rumors such as all 3% VOTE going to the dev team, this is simply not true. Or else you would have provided me with a specific proof post by now, I have asked you about 10 times already.


That is not how it works, and not how I explained it. 3% VOTE is the share distribution everyone gets upon the merger. The reason why VOTE is critical is because it is a important mechanism to incentive and coerce existing stakeholders into making such changes. Funds for the dev team are will be supported by votes with this new mechanism which will allow for more crowdfunding means and ways to further dilute supply in order to maintain payroll for dev and marketing.

How many different ways do I have to explain this very simple concept?

Then your claim is wrong, there is no extra pay to the developer in the merger itself, YES?

I am well aware that, with community approval, VOTE can be used to pay the dev team for ongoing development, and I already previously stated I support it:
"I have no problem with sensible ongoing funding to the dev team, Bitcoin is paying $500 million each year to miners/pools/hardware vendor/electric company. Why would I object funding the Bitshare dev team? I could tell you right now, it's costs way less than $500 million for sure."