Communist Bitshares Wealth Redistribution IS THEFT!
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DecentralizeEconomics:
It's become clear in this long thread that a year of "Fibs and Fud" from people who have little personal honor have left many fair minded folks with deep misunderstandings about BitShares.  Rather than continuing to answer them piecemeal, I've decided to author a series of pictures that explain everything from the beginning.  I hope some of you find this useful.



(To be continued...)
DecentralizeEconomics:
Quote from: DecentralizeEconomics on February 06, 2015, 08:09:49 AM

Quote from: StanLarimer on January 28, 2015, 03:57:23 PM

http://bitsharesblocks.com/delegates




This picture really says it all.  The top delegate only has ~17% of the vote.  This is a perfect example to show how easy it is for the wealthiest stakeholders to control the delegates.

Quote from: DecentralizeEconomics on January 14, 2015, 07:51:57 AM

That's true that in all blockchains stakeholders/hashpower can collude, but they can only collude in a one-to-one proportion to their stake/hash.  Since approval voting is used in delegate elections, I maintain that large stakeholders can effectively collude to a multiple proportion of their stake.  Whereby, for example, 20% of colluding stake can disproportionately influence the elections of more than 20% of the delegates.  This leads to a coalition of a few wealthy stakeholders being able to determine the outcomes of the mass majority of the delegate elections.  This is especially true considering that voter turnout of smaller stakeholders will be lower than the voter turnout of larger stakeholders.  As I said previously, it would be the intention of the colluding wealthy stakeholders to not harm Bitshares, but to elect delegates from which they would derive monetary gain in excess to their proportion of stake in the system at the expense of all other stakeholders.


Quote from: DecentralizeEconomics on January 15, 2015, 06:13:48 AM

Let's give an example.  Remember, in "approval voting", voters do not just vote for one delegate.  They can select as many or as few delegates as they wish and the entire weight of their stake counts towards each delegate they choose.  Say for instance that the top delegate has 50% of the vote and the 101st delegate has 30% of the vote.  The voting spread percentage is 20% (50%-30%).  If the votes per delegate is a linear increase according to delegate rank, an additional 10% of the stake vote will move the 101st delegate to the 50th position.  Likewise, a removal of 10% of the stake vote from the lower 50 delegates will result in them losing their delegate position.  By strategically voting, a few wealthy stakeholders can influence a disproportionate number of delegate positions in relation to their actual stake.  In this example, a coalition of 10% stake was able to control 50% of the delegates.

Does this sound fair to you?!



Make your own conclusion, but imho from the evidence Stan presented, the only logical conclusion is that Bitshares was intentionally designed to centralize the control of the blockchain into the hands of the wealthiest stakeholders.  It is obvious that we no longer see Stan in here trying to defend his position because there is no rebuttal against such evidence.  The silence is damning.
DecentralizeEconomics:
Now, since I have defeated the Bitshares' corporatists (aka communists) and they no longer dare to come into this thread and vainly defend their monstrosity, we can have a REAL conversation about Bitshares, how it is designed to enslave its users and how its sole purpose is to implement corporatism / communism on the blockchain.  Those who attempt to cast the truth as fiction and the truth-bearers as falsifiers, shall be routed from their speech.  May the light of rational thought and truth shine upon them and obliterate the shadows of falsehood which cover them.

Those who slander the spirit of crypto and corrupt its original ideology shall be brought to judgment.  Those who attempt to pass off injustice as justice, mock true decentralization, and obfuscate the truth will bear the fury of my words.  May they fear my words as they fear the truth.  I will expose them for what they are and nothing will stop the truth.  Every word they utter in defense, I will break down and expose it for its true nature.  If I am the only one who stands against the assault on free crypto, then so be it; I will do so just the same.  I will make sure all who come to crypto knows of their intentions.  For what is hidden, I will expose.  What is unjust, I will make just.

In the coming days, I will pick apart Bitshares' voting system, their primary control mechanism.  It is a system which imo is intentionally designed to be confusing, manipulative and in opposition to all assumptions.  I will make this thread the most viewed Bitshares' thread on Bitcointalk.
DecentralizeEconomics:
Quote from: bitcoinjesus2.0 on February 09, 2015, 09:29:45 AM

Quote from: DecentralizeEconomics on February 09, 2015, 06:48:50 AM

May the light of rational thought and truth shine

they fear the truth.

and nothing will stop the truth.  



BitShares has never fallen from the Top 5 on www.coinmarketcap.com




and never will...


FAMOUS LAST WORDS
HalFinneysBrain:
Quote from: DecentralizeEconomics on February 09, 2015, 06:48:50 AM

Now, since I have defeated the Bitshares' corporatists (aka communists) and they no longer dare to come into this thread and vainly defend their monstrosity, we can have a REAL conversation about Bitshares, how it is designed to enslave its users and how its sole purpose is to implement corporatism / communism on the blockchain.  Those who attempt to cast the truth as fiction and the truth-bearers as falsifiers, shall be routed from their speech.  May the light of rational thought and truth shine upon them and obliterate the shadows of falsehood which cover them.



DecentralizedEconomics, you seem to be under the impression that if you call Bitshares enough words that people associate to negative things, that you can make reality bend to your will, and the Bitshares codebase will somehow morph into some monstrosity.

I am not sure what your gameplan is, whether you are an NXT supporter who desires to hurt Bitshares as a perceived competitor, or what.  Personally NXT and Bitshares are my two favorites, and I wish both communities could get along better.  They are the most similar coins to each other, and yet we bicker, when we should all be ganging up against Ripple!


Anyway, a corporation governed by the vote of its shareholders is hardly "communist".  Calling it such is a misrepresentation of Orwellian terms, like saying 'slavery is freedom'.   You claim to want to have a rational discussion of Bitshares, and yet your choice of terms reveals a very strong and clear bias against it.  Wouldn't it be much more productive to analyze the Bitshares consensus system in a fair and balanced, academic way?  (Of course, on the other side Stan Larimer is not exactly an impartial voice here either.  I'm pretty sure the truth lies somewhere in between you two).




If Bitshares is a successful implementation of a corporate voting structure on a blockchain, then that is an important innovation!  It is important just like NXT's asset exchange is an important innovation.


Your claim that Bitshares inflaiton is "theft" does not pass the test of reason.  Were participation in the Bitshares blockchain compulsory, then you could claim that taxation is theft and make this case.  But being a Bitshares holder and using the Bitshares blockchain is an entirely voluntary act.  One can choose to take their business elsewhere and use NXT or Bitcoin or anything else if one desires.  Thus, even in the very worst case, in which Bitshares delegates have locked themselves in place and issue themselves free BTS, one could not make the case that it was "theft", only that this inflation was a fee that a user would need to voluntarily pay in order to use the service of BTS.  

In reality, most delegates are probably going to be providing value to Bitshares.  If delegates act as parasites and shareholders cannot remove them, then that is a flaw in Bitshares, and would make it clearly worse than NXT, but it would be no more of a flaw than Bitcoin inflating itself 10% a year for miners.   Until we see such parasitical behavior, we should not assume it will be the case, rather we should treat Bitshares as an experiment, which might work or might not.  So far Bitshares voters have already kicked out one paid delegate who didnt provide updates on their progress.  That seems to be a positive sign.

Yes, things would be better if a greater percentage of the total stake was voting.  18% for top delegate and 8% for 101st delegate is too low, and this means that one could execute an attack with only 10% of stake or so, whereas ideally we would want it to require 51%.  But is that better than in the alternatives?  What percentage of NXT are used to forge?  

These numbers have been rising slowly over time.  A few months back it was around 12% for top delegate and 5% for the bottom.  The Bitshares system scales up as people care more.  If the price rises, if the market cap were to grow by an order of magnitude, how much more would people care?  



I definitely feel that the Bitshares team has made some mistakes.  Their product is too complicated and difficult to explain, they have not delivered on time on some promises, and they hurt their community with the 'merger'.  But I do not see them as malevolent as you imply.  Rather, I think they are too idealistic, they lack a get it done type who pressures them to execute on their schedule and meet deadlines.  The Bitshares devs are too fond of dreaming up new ideas when they haven't finished the old ones yet.

To refer to such libertarian idealists as 'communist' is unfair and absurd.  Few coin developers embody libertarian ideals as much as Bytemaster does on his blog.  It would be much more reasonable to accuse the Bitshares devs of being libertarian dreamers than 'communists'.   Perhaps some day they will succeed in actually getting a product released that is as usable as NXT.  I find it strange sometimes that Bitshares has a higher market cap than NXT when I think NXT is further along in its development, but I still invest in it because I can see the potential and I believe in diversification.  Bitshares is more highly valued only because it is popular among the chinese, I think, but as a result it has the potential to catch on in china which would make it huge.


At the very least we should be fair to each coin and rationally analyze their strengths and weaknesses.  Being a communist engine of oppression is not Bitshares' weakness, it is simply a gross misrepresentation.  
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