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RE: BSIP-019 Draft: "Introducing profit sharing/dividends to Bitshares"
I would support a share drop dividend model with some fixed reserve allocation. Ie. if the reserve exceeds 5% of BTS supply the excess is paid via sharedrop on BTS held in openledger wallets.
That's different from this BSIP though, we're proposing to move some of the fees that are currently going to the referral system to dividends, what you're proposing is to dip into the reserve pool to provide dividends which would inflate the circulating BTS, no?
Sorry, I missed the referral part! My thought was that as BTS becomes profitable the reserve pool is going to grow to excessively - I think it is already at ~ $300M - and there is really no point point in growing it larger. So at some point we say "There is more money in the reserve pool that can ever be used for maintenance/upgrades, let's start returning the value to shareholders".
Yeah, we can implement that through taxing the current reserve pool fee allocation.
The size of the reserve pool is substantial, consider the fact that it's ~$300m whilst at ~$1B, if/when BTS hits BTC levels it'll be stupid how much the reserve pool has at its disposal. We really aught to start seriously pushing for BSIPs and Worker proposals to be funded as the reserve pool becomes more powerful/ominous.