Author Topic: Should we continue to funding mining of PTS?  (Read 38051 times)

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Offline emski

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So anyone could create an asset and distribute bitasset PTS according to PTS snapshot. Are the tools for this in existance ?
Yes .. anybody (but has to pay BTSX tx fee) ... and no .. no tools

Well even if a user creates the bitasset. He still needs to distribute the PTS somehow. This should cost significant amount of transaction fees.

Offline xeroc

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So anyone could create an asset and distribute bitasset PTS according to PTS snapshot. Are the tools for this in existance ?
Yes .. anybody (but has to pay BTSX tx fee) ... and no .. no tools

Offline emski

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Can we hardfork BTSX and change market issued PTS to a bitAsset distributed to the owners of PTS at snapshot date. Then all future DACs honor PTS bitasset.

Not going to support a hard fork for this.  PTS should be user issued and transferred by someone other than DAC Sun or I3.

So anyone could create an asset and distribute bitasset PTS according to PTS snapshot. Are the tools for this in existance ?

Offline bytemaster

What will happen to a market pegged PTS asset on BTSX then?

Probably about the same thing that's happening to it now: nothing. I'm guessing that most delegates wouldn't waste their time publishing a price feed for a coin that doesn't exist...

Actually they could just publish the feed from the internal exchange and thus allow people to short PTS.
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Offline bytemaster

Can we hardfork BTSX and change market issued PTS to a bitAsset distributed to the owners of PTS at snapshot date. Then all future DACs honor PTS bitasset.

Not going to support a hard fork for this.  PTS should be user issued and transferred by someone other than DAC Sun or I3.
For the latest updates checkout my blog: http://bytemaster.bitshares.org
Anything said on these forums does not constitute an intent to create a legal obligation or contract between myself and anyone else.   These are merely my opinions and I reserve the right to change them at any time.

Offline bytemaster

To correctly make this comparison you have to use the anticipated price drop of PTS as the purchase price you are comparing.  There is residual value in PTS after traditional snapshots that doesn't count against what you paid to get those NOTES or whatever.

and that is an important point.. perhaps such a change as making PTS illiquid would be zeroing that other value that PTS holds.. the theory perhaps would be that is the sum of future but still it's presumptious about people's intentions.. some might be using it as a currency coin.

Perhaps... but their use of a currency coin does not preclude how we use it or don't use it.   A currency coin that drops after every snapshot and rises prior is not a very good currency and they should know better.
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Offline emski

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Can we hardfork BTSX and change market issued PTS to a bitAsset distributed to the owners of PTS at snapshot date. Then all future DACs honor PTS bitasset.

Offline biophil

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What will happen to a market pegged PTS asset on BTSX then?

Probably about the same thing that's happening to it now: nothing. I'm guessing that most delegates wouldn't waste their time publishing a price feed for a coin that doesn't exist...
Support our research efforts to improve BitAsset price-pegging! Vote for worker 1.14.204 "201907-uccs-research-project."

Offline bytemaster

What will happen to a market pegged PTS asset on BTSX then?

It can be removed from the GUI and never have a price feed.
You can then trade PTS vs BitUSD...
It would also drive demand for BTSX so you can trade PTS.

I think we want to avoid FRAGMENTING the market with too many DACs that all require a delegates and maitenance.
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Offline davidpbrown

To correctly make this comparison you have to use the anticipated price drop of PTS as the purchase price you are comparing.  There is residual value in PTS after traditional snapshots that doesn't count against what you paid to get those NOTES or whatever.

and that is an important point.. perhaps such a change as making PTS illiquid would be zeroing that other value that PTS holds.. the theory perhaps would be that is the sum of future but still it's presumptious about people's intentions.. some might be using it as a currency coin.
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Offline vlight

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What will happen to a market pegged PTS asset on BTSX then?

Offline bytemaster

Buying into "snapshots" is very tricky because the value of PTS includes so many factors that you don't know what price you are getting.   If you are really interested in a particular DAC it is almost always better not to buy PTS but to buy that one DAC because you will get a larger stake per value.   See the Peertracks Pre Sale... cheaper to buy in via their AGS system than via PTS.

To correctly make this comparison you have to use the anticipated price drop of PTS as the purchase price you are comparing.  There is residual value in PTS after traditional snapshots that doesn't count against what you paid to get those NOTES or whatever.

+1  You are right... in other words you cannot compute the relative cost of PTS vs the presale price... thus it is almost always better to go with the presale if you have a price you are willing to pay... especially because the presale will actually help the DAC you want to succeed (making it more likely to succeed) where as buying PTS does not help the DAC to succeed.
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Offline biophil

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Buying into "snapshots" is very tricky because the value of PTS includes so many factors that you don't know what price you are getting.   If you are really interested in a particular DAC it is almost always better not to buy PTS but to buy that one DAC because you will get a larger stake per value.   See the Peertracks Pre Sale... cheaper to buy in via their AGS system than via PTS.

To correctly make this comparison you have to use the anticipated price drop of PTS as the purchase price you are comparing.  There is residual value in PTS after traditional snapshots that doesn't count against what you paid to get those NOTES or whatever.

See this thread: https://bitsharestalk.org/index.php?topic=10102.0

Nice analysis on cost of NOTEs via PTS versus pre-sale, accounting for the price-drop you're talking about. He concludes you would get over 50% more NOTE for your money with the pre-sale.
Support our research efforts to improve BitAsset price-pegging! Vote for worker 1.14.204 "201907-uccs-research-project."

Offline bytemaster

I'm not sure my opinion is strong enough on the liquid/illiquid question to make an argument either way, but please consider this:

Novemeber 5 is only 2.5 weeks away! CoinHoarder mentioned this too, that seems WAY TOO SOON. I know you want to blow up Parliament (tee hee, civil disobedience joke!), but don't rush the snapshot just for the sake of symbolism! You're making a major change to the role and function of PTS, and this needs to be very well publicized. 2.5 weeks is a dangerously short time for this!

If the only change was to move to user issued asset on BTSX then it wouldn't affect its value proposition at all.
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Offline Stan

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Buying into "snapshots" is very tricky because the value of PTS includes so many factors that you don't know what price you are getting.   If you are really interested in a particular DAC it is almost always better not to buy PTS but to buy that one DAC because you will get a larger stake per value.   See the Peertracks Pre Sale... cheaper to buy in via their AGS system than via PTS.

To correctly make this comparison you have to use the anticipated price drop of PTS as the purchase price you are comparing.  There is residual value in PTS after traditional snapshots that doesn't count against what you paid to get those NOTES or whatever.
Anything said on these forums does not constitute an intent to create a legal obligation or contract of any kind.   These are merely my opinions which I reserve the right to change at any time.