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Offline bitmeat

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Can someone familiar with matters clarify vesting.
« on: October 22, 2014, 07:09:53 AM »

BM claims that vesting was known from the very first proposal, but details are murky and changing on a daily basis. (originally was 6 months)

Let's say someone has PTS that equals 100 BTS post merger (when fully vested). My understanding is that vesting is gradual over the next 2 years.

Let's say 6 months pass from first day of merger. So that's 25% vested. Does that mean that if that someone sells their vested stake they will only get 25 BTS, and the other 75 BTS will be lost (basically burned), or does it mean that they can only sell 25 BTS, but once the 2 year period is over, they will still be able to sell the other 75 PTS?

I really hope it is the latter, because it just doesn't make sense to do the first.

Offline CryptoPrometheus

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Re: Can someone familiar with matters clarify vesting.
« Reply #1 on: October 22, 2014, 07:12:49 AM »
Wow, I totally didn't think about it that way. That makes so much more sense. Don't burn them, just allow access at an incremental rate. I'd love to hear the arguments against this idea.....
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Offline pgbit

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Re: Can someone familiar with matters clarify vesting.
« Reply #2 on: October 22, 2014, 07:18:46 AM »
BM claims that vesting was known from the very first proposal, but details are murky and changing on a daily basis. (originally was 6 months)

Let's say someone has PTS that equals 100 BTS post merger (when fully vested). My understanding is that vesting is gradual over the next 2 years.

Let's say 6 months pass from first day of merger. So that's 25% vested. Does that mean that if that someone sells their vested stake they will only get 25 BTS, and the other 75 BTS will be lost (basically burned), or does it mean that they can only sell 25 BTS, but once the 2 year period is over, they will still be able to sell the other 75 PTS?

I really hope it is the latter, because it just doesn't make sense to do the first.
Looking forward to learning about how the vesting process will work in reality. The latter approach seems fairer.

Offline xeroc

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Re: Can someone familiar with matters clarify vesting.
« Reply #3 on: October 22, 2014, 07:18:51 AM »
I really hope it is the latter, because it just doesn't make sense to do the first.
I agree .. would make the transition to BTS alot more easy to implement also .. IMHO
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Offline tonyk

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Re: Can someone familiar with matters clarify vesting.
« Reply #4 on: October 22, 2014, 07:21:00 AM »
BM claims that vesting was known from the very first proposal, but details are murky and changing on a daily basis. (originally was 6 months)

Let's say someone has PTS that equals 100 BTS post merger (when fully vested). My understanding is that vesting is gradual over the next 2 years.

Let's say 6 months pass from first day of merger. So that's 25% vested. Does that mean that if that someone sells their vested stake they will only get 25 BTS, and the other 75 BTS will be lost (basically burned), or does it mean that they can only sell 25 BTS, but once the 2 year period is over, they will still be able to sell the other 75 PTS?

I really hope it is the latter, because it just doesn't make sense to do the first.
I am hoping  for clear(er) explanation on that matter, too. From what I have read it is the former... the  latter will, btw, lead to significant stake becoming available to (most) anybody at the end of the 2 years period.
« Last Edit: October 22, 2014, 07:23:40 AM by tonyk »
Lack of arbitrage is the problem, isn't it. And this 'should' solves it.

Offline bitmeat

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Re: Can someone familiar with matters clarify vesting.
« Reply #5 on: October 22, 2014, 07:21:05 AM »
Yes, it keeps it fair, while it also makes sure massive dumping and dilution is prevented.

I really hope it is just a slow gradual distribution.

Offline tonyk

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Re: Can someone familiar with matters clarify vesting.
« Reply #6 on: October 22, 2014, 07:25:14 AM »
Yes, it keeps it fair, while it also makes sure massive dumping and dilution is prevented.

I really hope it is just a slow gradual distribution.

That is even better... but I do not believe, this to be the case from the explanations I have read.
Lack of arbitrage is the problem, isn't it. And this 'should' solves it.

Offline bitmeat

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Re: Can someone familiar with matters clarify vesting.
« Reply #7 on: October 22, 2014, 07:30:51 AM »
Yes, it keeps it fair, while it also makes sure massive dumping and dilution is prevented.

I really hope it is just a slow gradual distribution.

That is even better... but I do not believe, this to be the case from the explanations I have read.

Well that can and should be fixed. It shows a really low amounts of fuck being given by the team.

Offline CryptoPrometheus

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Re: Can someone familiar with matters clarify vesting.
« Reply #8 on: October 22, 2014, 07:31:57 AM »
How about gradual, with updates every hour, or perhaps every day. That way,  you could withdraw everything up to that point, and then it starts accrual again and can be withdrawn after the following update, or you could just keep letting it accrue until the next time you need to withdraw. You could have an "early withdrawal fee", something not too huge like 5%, to keep people from creating bots to just automatically withdraw after each update....
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