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Online Shentist

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Toast - thank you in destroying my just bought DNS
« on: October 22, 2014, 05:41:43 AM »

i don't get it why nothing is discussed in this part of the forum?

Because everyone is happy?

Great that the main developer of this projects killed my DNS shares. Bad timing from me that i bought DNS on BTER.com as well, because all the discussions were only
merger with PTS and AGS. DNS was not once in the talk.

sorry Toast but you did your own community wrong. I understand it you are young and you relay on bytemaster, but sorry, this should be discussed on the forum. What said your investor where bought from the dev funds for 20.000 usd DNS? did he agree or did you guys compensate him exclusivly?

sry, i am just mad!

i assume, this was in the making a long time

"don't place DNS on coinmarketcap" makes now just more sense.
« Last Edit: October 22, 2014, 05:54:09 AM by Shentist »

Offline bobb

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Re: Toast - thank you in destroying my just bought DNS
« Reply #1 on: October 22, 2014, 06:23:42 AM »
I am (partly) with you. I was also heavily invested in the DNS/KeyID DAC. I just posted this:
https://bitsharestalk.org/index.php?topic=10279.msg135338#msg135338

I also feel betrayed because I did not sell because toast explicitly announced that the invested funds with be preserved.
This DAC was so promising, so many features were to come up soon.
It just feels like someone pulled the emergency break to pick up DNS for a bargain.
 
People get emotional when they loose money but feelings aside. I don't see the arguments to backup this allocation.
I would love to hear toast's thoughts.
« Last Edit: October 22, 2014, 07:06:24 AM by bobb »

Offline bobb

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Re: Toast - thank you in destroying my just bought DNS
« Reply #2 on: October 22, 2014, 06:35:34 AM »
just a suggestion: You may want to give the thread a less offensive subject :)
We don't know what toast's position is. In the proposal thread it did not sound like this was his idea or that he already agreed to it.


Offline tonyk

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Re: Toast - thank you in destroying my just bought DNS
« Reply #3 on: October 22, 2014, 06:40:50 AM »
I do not get it... Really, I do not!

He tried to prevent the hype as much as he could! He did prevented DNS from being listed on Coinmarketcap... against all requests...

And at the end of the day he is still guilty because you bought DNS?

I mean really.  How can he can possibly have stopped you?

....


Now it was available for trading... and you bought it at some point... and now it is his fault....I just do not get it...I truly do not.
« Last Edit: October 22, 2014, 06:47:37 AM by tonyk »
Lack of arbitrage is the problem, isn't it. And this 'should' solves it.

Offline bobb

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Re: Toast - thank you in destroying my just bought DNS
« Reply #4 on: October 22, 2014, 06:57:23 AM »
@tonyk. totally agree I am not blaming toast. Hence my suggestion to change the subject.

But toast assured that the invested funds will be preserved, so I guess it is a legit question to ask for his opinion, right?
But I agree the way how you do it matters :)

Just started a new thread to discuss this on 'neutral ground':
https://bitsharestalk.org/index.php?topic=10317.0
« Last Edit: October 22, 2014, 07:04:42 AM by bobb »

Offline pc

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Re: Toast - thank you in destroying my just bought DNS
« Reply #5 on: October 22, 2014, 07:50:40 AM »

And at the end of the day he is still guilty because you bought DNS?

Obviously not. He's guilty because he just handed over KeyID to BitShares without even asking DNS shareholders. So every DNS investor can rightfully feel ripped off.

Just like PTS and AGS shareholders aren't even being asked about this so-called "merger". It's just stuffed down their throats and nobody cares if they want it or not.
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Offline tonyk

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Re: Toast - thank you in destroying my just bought DNS
« Reply #6 on: October 22, 2014, 08:11:59 AM »
@tonyk. totally agree I am not blaming toast. Hence my suggestion to change the subject.

But toast assured that the invested funds will be preserved, so I guess it is a legit question to ask for his opinion, right?
But I agree the way how you do it matters :)

Just started a new thread to discuss this on 'neutral ground':
https://bitsharestalk.org/index.php?topic=10317.0

And at the end of the day he is still guilty because you bought DNS?

Obviously not. He's guilty because he just handed over KeyID to BitShares without even asking DNS shareholders. So every DNS investor can rightfully feel ripped off.

Just like PTS and AGS shareholders aren't even being asked about this so-called "merger". It's just stuffed down their throats and nobody cares if they want it or not.

OK I see the point you both make.
Lack of arbitrage is the problem, isn't it. And this 'should' solves it.

Offline Riverhead

Re: Toast - thank you in destroying my just bought DNS
« Reply #7 on: October 22, 2014, 12:01:02 PM »
There is a HUGE open question right now on DNS. Bytemaster posted up that 80% of DNS (the developer's stake) would not be counted.

Depending on how that 80% is calculated the supply of DNS is anywhere from 1bn to 4bn. If it is the 1bn than this merger is a wash (300sat value). If it's the 4bn then BTS aquired DNS for 1/3rd current market value.

The case BM made for that is that there was only $10k in liquidity. However, what I feel was heavily factored into the market price of DNS at the time was a faith in Toast as thought leader in the space, the bitshares_toolkit as a whole, and the discussed feature set to come.

The other unkonw, but is BM's and to some extent perhaps toast's opinion, that selling at what BM considers True Market Value of DNS to BTS will net us more in the long run because the investment in BTS will surpass the investment made in DNS. Basically the bet is that in a year or so from now BTS will be so big that even at 1/3rd buy rate we, as investors, are still much further ahead.

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Re: Toast - thank you in destroying my just bought DNS
« Reply #8 on: October 22, 2014, 12:17:56 PM »
toast,i will never believe your product anymore.
your team was a totally mess.

Offline bobb

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Re: Toast - thank you in destroying my just bought DNS
« Reply #9 on: October 22, 2014, 12:24:37 PM »
The case BM made for that is that there was only $10k in liquidity. However, what I feel was heavily factored into the market price of DNS at the time was a faith in Toast as thought leader in the space, the bitshares_toolkit as a whole, and the discussed feature set to come.

Another problem I have with that argument is that with the proposal in the wild everyone was pulling their bids.
The liquidity established again at the new market price which was a result of the announcement.
So it is a slight stunt to first scare away the liquidity and than later start to argue there was none.

Look at the liquidity and volume at the new market price:
http://www.btc38.com/trade.html?btc38_trade_coin_name=dns
http://www.btc38.com/trade.html?mk_type=btc&btc38_trade_coin_name=dns
The volume on btc38 in the last 24h was about 600.000.000 DNS alone. Thats almost close to the volume of BTSX.


Offline GaltReport

Re: Toast - thank you in destroying my just bought DNS
« Reply #10 on: October 22, 2014, 12:25:27 PM »
I think Toast made the most of a difficult situation.  Same as BM and I3.  Probably Toast has more DNS and so is in the best position to decide whether it's better to say independent or not.  For sure, from what I can see, it's a hell of a lot of work to spearhead a DAC.  My guess is he probably looked at all options and paths and chose the best.  I guess he could have spent days polling everyone...or at least maybe communicated better...but in the end if he thinks it's best to merge, you have to respect that to a large degree given that he would have been the person everyone most depended on if it stayed independent.

As the song says, "You've go to know when to hold them...know when to fold them...".  Wishful thinking and blind promise keeping are not a substitute for sound reason.

« Last Edit: October 22, 2014, 12:27:59 PM by GaltReport »

Offline toast

Re: Toast - thank you in destroying my just bought DNS
« Reply #11 on: October 22, 2014, 01:01:09 PM »
I did not approve the allocation BM posted and am furious about the crash in value. I did not see this coming and had been advising everyone that it won't matter what you held.

I am for the merger, but BM's execution seriously fucked people who supported me...

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Offline 029xue

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Re: Toast - thank you in destroying my just bought DNS
« Reply #12 on: October 22, 2014, 01:44:36 PM »
I did not approve the allocation BM posted and am furious about the crash in value. I did not see this coming and had been advising everyone that it won't matter what you held.

I am for the merger, but BM's execution seriously fucked people who supported me...

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Can't agree you more!
+5%

Offline BTSdac

Re: Toast - thank you in destroying my just bought DNS
« Reply #13 on: October 22, 2014, 01:48:56 PM »
I have a lot of DNS,but I am merger , I don`t think it is destroying DNS, if toast and BM develop dns together,  I will make DNS become more powerful in new super DAC,
github.com :pureland
BTS2.0 API :ws://139.196.37.179:8091
BTS2.0 API 数据源ws://139.196.37.179:8091

Offline xman

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Re: Toast - thank you in destroying my just bought DNS
« Reply #14 on: October 22, 2014, 01:53:14 PM »
I did not approve the allocation BM posted and am furious about the crash in value. I did not see this coming and had been advising everyone that it won't matter what you held.

I am for the merger, but BM's execution seriously fucked people who supported me...

Sent from my SCH-I535 using Tapatalk

+1

 

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