How would this forum be able to deal with thousands of shareholders?

cryptog · October 13, 2015, 12:45pm

Let us imagine a situation in which we have thousands of shareholders that want to participate into the creation of motions, which is obviously better than having only a handful, since the more nodes, the more decentralized Nu gets.
How could the current forum deal with that?
What would be the next step? Delegate motion creation? Only shareholders chosen by vote would actually be able to participate?

Nagalim · October 13, 2015, 1:09pm

There’s a maximum number of votes per block right? So that means that there can only really be several motion votes going on at one time. We will never be in the situation where we have hundreds of motions to vote on. As for the process of crafting motions, I imagine it will go very similarly:
Someone takes up the torch of the motion, acting as scribe. A vocal minority comments on the motion and puts it through the standard rigmarole. The motion gets hashed and put in some public place and the shareholders decide.

cryptog · October 13, 2015, 1:12pm

Right.

Would that prevent Nu from managing millions/billions of NuBits in liquidity?
I do not think so.
The FED votes on interest rate once every 3 months. Just one vote every 3 months…

Nagalim · October 13, 2015, 1:15pm

Yah, we don’t need to make hundreds of entry points for custodians. We have 5 right now, and it seems to work out. We could eventually progress to a structure where we give custodial grants to multisig addresses to then distribute amongst custodians. The decentralization isn’t really limited here.

tomjoad · October 13, 2015, 11:38pm

I’ve mentioned a few times before that I anticipate the Nu network evolving over the next decades to mirror the representative democracy system of modern politics:

Undistributed NuShares

As an aside, one possible future state that Nu might arrive at is one that mirrors the current political system. Different economic think tanks will publish their own data feeds that adhere to a core ideology and campaign to have NuShareholders “vote” for them by selecting an official think tank data feed. They might even go so far as to begin offering their own LPCs and development proposals too. Should this future state occur, voting could be paralyzed if a variety of strong think tanks existed that refused to vote for other think tank proposals.

It’s an interesting thought experiment. In the origins of democracy, every citizen had a seat at the table until the size of the represented population grew too large to make this process efficient. Political parties were then established to represent the interests of like-minded citizens. I expect Nu to evolve to that point one day.

There’s lots of experimentation that could occur with that model. Imagine if we had 100,000 shareholders in the future, perhaps the network would move to congressional sessions that happen quarterly. Each quarterly voting session any think tank with at least 5% of shareholders supporting their data feed could introduce up to five motions to vote on at the Nu Congress. Once the congress session ended, it would be expected that no new motions are introduced or voted for so that the network remains focused. Fun stuff to imagine.