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Author Topic: BitShares Emancipation Proclamation  (Read 599 times)
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StanLarimer
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December 02, 2015, 02:00:11 AM
 #1

NOTE:  This was originally published in another thread as part of our ongoing troll-spray program, but since most serious folks probably don't even look at those disinformation threads, I thought this was worth repeating here in slightly expanded form.  Apologies if you've seen a shorter version of this already.




It's been a gradual process but, I think we can say the BitShares is now sufficiently independent of its Cryptonomex developers to be treated as an emancipated adult company.  

Over the past weekend, the elected governing committee handled a hot issue without even involving Cryptonomex.  (This is not to say that everybody is happy with how they handled it, but that will always be the case in the course of human affairs.)  

Bitshareholders are now free to explore all sorts of exciting new ways to grow their business.  Cryptonomex is still available to provide support, but bitshareholders make the decisions about what gets done.  Two more software companies recently announced their availability as developers so BitShares is no longer dependent only on us.  That means we can be fired from our various upgrade projects if the owners aren't happy.

There are now several ways BitShares the Unmanned Company can raise funds to keep adding polish and features:

1.  The referral program encourages entrepreneurs to add features that attract new users.  Entrepreneurs who use this method are eligible to keep 80% of the revenues from the new users they bring in.  The business they grow is the business they own - and for this the BitSharesholders charge 20% for maintaining the world's most cost effective blockchain platform.

2.  The new Fee Backed Assets allow an entrepreneur to add a new feature and have 80% of its fees automatically routed to them and/or to the folks who paid for it's development. The other 20%, once again, go to the BitSharesholders' Reserve Pool (i.e. the company savings account).  Fee Backed Assets then trade like any other asset, giving their holders a share of the revenue earned by the feature(s) they helped to build.

3.  If there is a feature everyone wants for the General Good, BitSharesholders can vote to take it out of a blockchain-controlled Reserve Pool.  All blockchain revenue goes into this pool (and out of circulation) increasing the value of the remaining shares.  So far, this pool of savings has been growing since 2.0 was released, meaning the BitShares is now a profitable enterprise.

And all the source code is open for use by any third party developer to extend the platform or build businesses on top of it.

So, whatever those poor troll's may think of us is of little consequence.  
BitShares is an emancipated adult unmanned company.
It will become whatever the investors and entrepreneurs of this industry make it.

Creating a Bitcoin client that fully implements the network protocol is extremely difficult. Bitcoin-Qt is the only known safe implementation of a full node. Some other projects attempt to compete, but it is not recommended to use such software for anything serious. (Lightweight clients like Electrum and MultiBit are OK.)
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December 02, 2015, 07:01:40 AM
 #2

The Larimer Gang is now emancipated from their responsibilities to their investors and now free to sell the Bitshares' IP to the highest bidder while liquidating any of their remaining Bitshares to the suckers.  Enjoy watching your Bitshares plummet to zero satoshis.  YEAH! FREEDOM!!!111eleventy

YOURCHAIN - MAKE RCHAIN YOURS AGAIN!
"Give me the liberty to know, to utter, and to argue freely according to conscience, above all liberties." - Areopagitica
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December 02, 2015, 07:08:16 AM
 #3

You get some Apple Sauce points!

And

You get some Apple Sauce points!

And you!

Apple Sauce points for everyone!

Bitshares 3.0 Bitches
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December 02, 2015, 11:00:09 AM
 #4

Best to just ignore this troll, every single one of his posts are filled with confused false accusations and strawman argumentation. Sadly he's a pathetic loser without a life who tries his best to fill his days by trying to show that everyone else that is doing something productive is in reality just as unproductive as himself. It's sad, but typical mentally ill behaviour. I will ignore him from now on and let his psychiatrist deal with it.

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December 03, 2015, 06:34:59 AM
 #5

Best to just ignore this troll, every single one of his posts are filled with confused false accusations and strawman argumentation. Sadly he's a pathetic loser without a life who tries his best to fill his days by trying to show that everyone else that is doing something productive is in reality just as unproductive as himself. It's sad, but typical mentally ill behaviour. I will ignore him from now on and let his psychiatrist deal with it.

Don't worry about me.  I'm fine.  Calling anybody who dissents "mentally ill" is a classic propaganda tactic of the communists.  Iotatoken/Triangle/Uniqueorn/David Sonstebo is a raging international communist.

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December 03, 2015, 06:40:28 AM
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Best to just ignore this troll, every single one of his posts are filled with confused false accusations and strawman argumentation. Sadly he's a pathetic loser without a life who tries his best to fill his days by trying to show that everyone else that is doing something productive is in reality just as unproductive as himself. It's sad, but typical mentally ill behaviour. I will ignore him from now on and let his psychiatrist deal with it.

Don't worry about me.  I'm fine.  Calling anybody who dissents "mentally ill" is a classic propaganda tactic of the communists.  Iotatoken/Triangle/Uniqueorn/David Sonstebo is a raging international communist.

Please don't drag me into your drama 2k4s.

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December 03, 2015, 08:05:25 AM
 #7

how cute, the first crypto revolt by the masses over the foundation that created it.



+1

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December 03, 2015, 12:13:48 PM
 #8

+1776

the peasants have seized the grainery and are auctioning the spoils off to the highest bidder.

BitShares is the whore of Babylon

If You pay someone to code in a new feature, then you get a lifetime cut of all the profits that feature brings to the network.

America had its Gold Rush, now one lucky capitalist is paying to integrate anonymity and will get a cut whenever you or I want to do it on the down low (and the community gets a cut too of course).

Nothing but naked, sold to the highest bidder capitalism here.

Those with the capital necessary to stake a claim will get the gold like 49ers

If Bitshares stakeholders decide to pay a worker, the network gets a cut as well as referrers like OP mentioned.

► How to sneak in ICO, even if you're not allowed to Read More
StanLarimer
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December 03, 2015, 01:19:49 PM
 #9

Think of BitShares like a shopping mall.

The mall provides a new business with utilities and a favorable ecosystem with other business who work together to attract customers to the mall.

The business pays nothing to move in but agrees to give the mall 20% of its profits.

So businesses come up with services to offer, install them in a mall storefront and see if they can earn a living.

A familiar synergistic relationship of cooperating businesses like you see everywhere there is prosperity in the world today.

 Smiley
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