[BKS PASSED] Motion to stop sale of BKS

[Sabreiib]

Message service should be provided to B&C, so that the vote motion broadcast to everyone. And this message still can be a revenue for B&C by charging fee and stop spam attack.

[masterOfDisaster]

Both must be >50% for it to pass (though Nu will be changing this to just the block percentage criteria later

As the rules for a motion to pass are not enforced by protocol this motion doesn’t depend on the Nu 2.0 source code from which it was forked.

The rule for Nu motions once required indeed more than 50% blocks AND share days destroyed in a rolling window of 10,000 blocks for a motion to pass.
The motion to change that (to only blocks being considered) is from December last year; are share days still relevant?

It’s not stated explicitly in the BCE design (at least I haven’t found it), but I would have expected that BCE started with the most recent version of consensus rules of Nu:
over 50% blocks in a rolling window of 10,000 blocks containing the hash of a motion for the motion to pass

[Nagalim]

The rolling window is 10,000 with 5,001 votes passing. That’s why 1 vote = 0.01%

[masterOfDisaster]

Right. Thank you!
When I’m on my mobile phone I’m often too lazy to research details
I remembered that a motion could pass in as little as roughly 3.5 days if a vast majority were voting for it.
That would be the 5,001 of 10,000 blocks then.
I adjusted my post accordingly.

[Cybnate]

Excuse my ignorance, but can someone please point me to what to do to get my shares in the wallet. I do have an empty wallet just moved it from pointing to test to production and connecting to 4 or more peers. And are the additional shares already distributed to the rightful owners? This may or may not influence the voting.

Have some difficulties synchronising (stuck at 13075), maybe that is the issue? Can someone please advise the correct block height while we are at it?

[masterOfDisaster]

Only having access to the bcexchanged at the moment, I can only tell you how to do that there:

bcexchanged importnusharewallet <NuShares wallet file> [walletpassword] [rescan=true]

The same should be possible from the debug console of the bcexchange-qt client:

importnusharewallet <NuShares wallet file> [walletpassword] [rescan=true]

The BKS wallet needs to be unlocked for that. If your NSR wallet password contains blanks, you have to wrap it into “”.
If you have trouble, have a look here and the following posts: [Passed] Motion to provide seed funding for B&C Exchange - a decentralized exchange built on the Peershares platform

My understanding is that BKS have been distributed to NSR holders AND those who bought them from BCE.
So all who have a stake in this DAC so far are able to vote.

Current block height: 50998

Connected peers:

 bcexchanged getpeerinfo | grep addr | sed 's/"addr" : "//' | sed 's/:2239",//'
        176.9.65.41
        104.130.130.34
        62.4.15.180
        212.114.48.31
        62.210.15.44
        67.170.53.99
        73.171.28.236
        107.170.243.142

[masterOfDisaster]

Those who have bcexchanged running on Linux (maybe on a RaspberryPi) and want to continuously log the progress of this motion, might be interested in a tiny script I made.
~/bin/getmotion.sh gets execute each time a block is found and logs motion information into a file.

bcexchanged -daemon -blocknotify=~/bin/getmotion.sh

<getmotion.sh>
#!/bin/bash
hash="f8bcd3d068a6b35c92902a8d57e0e773e4e35352"
pathToLog=~/bin/
startLine=`bcexchanged getmotions | grep $hash -n`
arrStLn=(${startLine//:/ })

offset=5
head=$((${arrStLn[0]}-1+$offset))

blockHeight=`bcexchanged getinfo | grep blocks`
arrBH=(${blockHeight//:/ })
#echo ${arrBH[1]}

echo "status at block height: "${arrBH[1]} >> $pathToLog$hash.log
bcexchanged getmotions | head -n $head  | tail -n $offset >> $pathToLog$hash.log
</getmotion.sh>

I’m aware that a blockexplorer will soon be available for the BCE blockchain. But this script is able to log more than just the current situation - it logs the status per block and allows to see the progress

[mhps]

I am infavor of raising additional funds now to ensure additional functionality whenthe exchange go’s live

If BCE really sells additional 50k BKS at ~$4 each, there will be additional $200k funding, I guess spending it on developing additional features for the intial release will push the release date by quite a few months. I am a believer of releasing early and releasing often in software development. I’d like to see the bear minimum or even a proof-of-concept prototype running, say, in the next month.

[mhps]

For those on linux who don’t know how to set vote, type this

cd ~/.bcexchange
./bcexchanged setvote '{"motions" : ["f8bcd3d068a6b35c92902a8d57e0e773e4e35352"]}'

this assumes you at this moment are not voting for any custodians, parkrates, and fees.

[tomjoad]

Typing getmotions 51641 100 shows that the motion has received votes in 62 of the past 100 blocks, along with over 57% of the share days destroyed. This motion is well on its way to passing if the voting patterns hold.

[masterOfDisaster]

I don’t wonder as it seems to be the rational economical choice.
Whether additional BKS will be sold at a fixed rate, being sold at exchanges or in (seeded) auctions is a different topic that can be discussed once BCE needs additional funding AND this motion has passed

[Nagalim]

Blocks & Chains Decentralized Exchange • r/BC_Exchange

[masterOfDisaster]

So what is the official or the community reddit?
https://www.reddit.com/r/BC_Exchange/ or
https://www.reddit.com/r/BCExchange/ ?

[tomjoad]

So what is the official or the community reddit?

Whichever one the community decides to use. We purposely didn’t create a B&C Exchange subreddit because the nature of BlockShareholder discussion - namely, long-term voting - is far better suited to a Discourse forum.

[Nagalim]

We can do https://www.reddit.com/r/BCExchange/, it has posts and followers and stuff. I removed my post from the other subreddit to avoid confusion.

[cryptog]

f8bcd3d068a6b35c92902a8d57e0e773e4e35352 verified and voted

[Sabreiib]

If B&C reaches the trade volume of BTC38, how long will it takes to accumulate 200K USD revenue?

Assume our transaction fee is 0.05-0.1% although we charge fee on blockchain size not on cryptoasset
value.

BKS holders can pass a motion that 50% of first year revenue should be used for software development.

keep in mind that B&C probably has decent profit ability, we don’t need to dillute share frequantly, IMOH, if B&C become success, we don’t need to issue new shares at all.

[masterOfDisaster]

BKS holders can pass a motion that 50% of first year revenue should be used for software development.

keep in mind that B&C probably has decent profit ability, we don’t need to dillute share frequantly, IMOH, if B&C become success, we don’t need to issue new shares at all.

If the market is working without or with little friction, it shouldn’t matter whether BCE funds projects with BKC or BKS sales.

In the first case BKC revenue gets used for funding; BKS value is negatively affected, because dividend payment is reduced.
In the second case dividend payment goes on, but BKS get diluted; BKS value is not negatively affected by reduced dividends, but by the dilution.

As development/marketing/etc or money costs money, BCE needs to sell either BKC or BKS to fund it.
If the development/marketing/etc is assumed to earn BCE more money¹ than it costs, it makes sense to go this way.

You need to invest money, if you want to earn money

…but I don’t know whether the market is working without friction.
In the end BKS holders may decide which way to go, because it’s their financial responsibility

That!

BKS holders can pass a motion

---

¹ by increasing the utility and the value of BCE or providing new services: hint: website operated by BCE that provides BCE blockchain access

[crypto_coiner]

voted

[masterOfDisaster]

I agree with your assessment “This motion is well on its way to passing if the voting patterns hold.”, @tomjoad.

bcexchanged getmotions 52570 2800
{
[...]
    "f8bcd3d068a6b35c92902a8d57e0e773e4e35352" : {
        "blocks" : 1411,
        "block_percentage" : 50.39285714,
        "sharedays" : 26813,
        "shareday_percentage" : 48.52943838
    }
}



bcexchanged getmotions 52570 100
{
    "f8bcd3d068a6b35c92902a8d57e0e773e4e35352" : {
        "blocks" : 57,
        "block_percentage" : 57.0,
        "sharedays" : 1200,
        "shareday_percentage" : 54.20054201
    }
}

The motion at the time of writing this post is in 57% of blocks in the last 100 and in over 50% in the last 2800 blocks.