[BKS PASSED] Motion to stop sale of BKS

[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.

[Dhume]

[quote=“mhps, post:52, topic:2485, full:true”]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.
[/quote]

From what I understand we only pay for 8 hours of development per week. I don’t know how the developers are in terms of additional time they could spent on the project in case they receive additional funding. I will make a list with things I’d hope to see realized when the exchange go’s live in a new topic. It would be good to shape the views of shareholders about what we would like to see realized eventually so we can set clear goals of how to achieve them.

[Sabreiib]

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.

Key word: expected earning

When you holding Doge,BTC,LTC or any crypto you like, no dividend at all, why you hold them? because you belive one day the price will rocket.

Dividend can affect share price but it’s much less impactful than direct share dillution. That’s my opinion.

You must have seen the effect of BTC/LTC reward halving and effectively change on the price. That’s why satoshi is smarter than sunny king. Primecoin is designed to maintain relative constant reward than BTC/LTC, and XPM get diluted heavily by so called “improved design”. Miners care about FIAT revenue when minting, not the crypto coin quantity, if XPM price keeps lower, still lack of minting incentive regardless of the high blockchain reward at all.

Furthermore, a vicious circle may be built in XPM style or Bitshare way which means the PoS crypto with frequent dilution has little/no future.

need money for software dev or incentive miners -> PoS issue more crypto/share, PoW high reward -> price depressed-> less expected earning -> less holders -> price low-> no money to develope software or mint-> need money again.

If we BKS holders wanna be as successful as bitcoin, the virtuous circle needed.

need money -> DAC profit support software development -> share keeps undiluted, scaricity maintaned- >expected earning stands -> more holders-> high price -> enough money-> sustainable software development-> more function, more welcomed->good business profitability.

[Sabreiib]

BTW, according to my comprehension, Satoshi has much deeper understanding on “scarcity” than sunny king who developes a heavily dilluted XPM and easily duplicated PPC.

Forgive my harsh words.

[Nagalim]

SK understands distribution, Satoshi only understands scarcity. At B&C, we hopefully understand both.

[Sabreiib]

Top100 whales of PPC/XPM have more percentage than BTC big holders.

XPM hash rate stuck at the same level, PPC has inferior distribution than BTC.

[Nagalim]

PPC has inferior distribution than BTC

True, but to be fair BTC is older and vastly more recognized. You’re right though, PoW is better at distribution than PPC’s hybrid proof; my argument was insubstantial.

[mhps]

I agree that diluting shares to fund whatever – just a custodian vote away – is quite a slippery slope. Fiscal discipline is easier to maintain when all your income is revenue.

[Cybnate]

For those interested in testing my new BKS datafeed:

URL: https://raw.githubusercontent.com/Cybnate/BKS-datafeed/master/Cybnate-main.json
Signature URL: https://raw.githubusercontent.com/Cybnate/BKS-datafeed/master/Cybnate-sig.txt
Signature address: 8U4ptdMup2MQ1uwVNNYqYv4btzmFyAuDju

The feed is setup to only vote for the motion in the OP. I will set up a thread for the BKS datafeed later.