Clarification on Vesting

[svk]

+5% to this, it's the right way to handle it.

Maybe DNS+PTS could've been give more liquidity, but I don't intend to sell my future allocation anyway so I'm OK with this.

[donkeypong]

This sounds very, very fair. Those who objected to the allocations are in the clear minority, but they had some valid concerns. The main one had to do with their understanding of this vesting. Thanks for clarifying; glad this will be phased over time.

[Gentso1]

Please confirm that this vesting period only applies to the 500mill or whatever the final number created.

The btsx I hold now when transferred to bts I will have the option to sell whenever I prefer.

The ags I donated to pre 2/28 will be slowly released during the vesting period you stated.

All BTSX will remain liquid... no migrating... just an upgrade to your wallet. All BitUSD / BitBTC/BitGLD unaffected.

thanks

[bytemaster]

Please confirm that this vesting period only applies to the 500mill or whatever the final number created.

The btsx I hold now when transferred to bts I will have the option to sell whenever I prefer.

The ags I donated to pre 2/28 will be slowly released during the vesting period you stated.

All BTSX will remain liquid... no migrating... just an upgrade to your wallet. All BitUSD / BitBTC/BitGLD unaffected.

[Gentso1]

Please confirm that this vesting period only applies to the 500mill or whatever the final number created.

The btsx I hold now when transferred to bts I will have the option to sell whenever I prefer.

The ags I donated to pre 2/28 will be slowly released during the vesting period you stated. 

[feedthemcake]

It is linear... each block you can unlock some small amount of shares... make a transaction with the "fee/share ratio is favorable".

+5%

[bytemaster]

It is linear... each block you can unlock some small amount of shares... make a transaction with the "fee/share ratio is favorable".   

[bitmeat]

+5% This way we also avoid a huge dump after the 2 years.

Isn't that exactly when a "huge dump" will happen.

Not sure if you are being sarcastic, but as soon as the shares are unlocked, the market will be flooded.

If I understand the new clarification correctly, the shares will be gradually unlocked. E.g. after 6 months you can "dump" 25% but still keep the 75% locked, and sell whenever.

So this ensures gradual transition, and is the right thing to do.

[Riverhead]

+5% This way we also avoid a huge dump after the 2 years.

Isn't that exactly when a "huge dump" will happen.

Not sure if you are being sarcastic, but as soon as the shares are unlocked, the market will be flooded.

The shares are being unlocked over time. There won't be a huge flood of shares on the open market all at once.

[bitmeat]

The confusion came from how it was worded when it was announced. Thank you for the clarification!

You guys need to put together an info graphic showing a breakdown of how the mechanics will work.

EDIT: The quote that really got me worked up, but is now apparently amended as per this clarification:

2 year vesting period... ie: you can withdraw early for a fraction of your cut.. if you want to sell after 6 months you get 25%... if you wait for a year you get 50%... etc. 

[Ggozzo]

+5% This way we also avoid a huge dump after the 2 years.

Isn't that exactly when a "huge dump" will happen.

Not sure if you are being sarcastic, but as soon as the shares are unlocked, the market will be flooded.

[feedthemcake]

Vesting only applies to VOTE + DNS + PTS + AGS.

There is some confusion over whether or not claiming your funds early results in losing everything else... 

I think that you can claim them as they mature.... so after 1 year you are 50% liquid and 50% locked up.  After 2 years everyone should be able to claim 100% of their allocation.

This is a compromise on the liquidity proposition... the other idea would have incentivized people to hold on for 2 years to avoid losing anything.

In other words... everyone will eventually get 100% of their allocation.  No penalty for claiming your matured BTS.

Is the vesting curve continuous? I asked this somewhere else but my question got buried. So do I get 1/24 after the first month, 2/24 after the 2nd month, etc?

In my opinion, this would be a better way to go about this as anyone looking to "get out" would sell sometime after the date the funds are "released" with smaller sell pressure rather than every 6 months or year, which would have a big incoming dump with a known date. If I knew that on Nov 1st, my funds and everyone's funds would be released for the first time in 6 months and I want out, everyone would sell...on the flip side, if I held something I knew people would be dumping into for the first time in 6 months, I would sell off before that date then buy in at the dip, effectively scalping some of the cost. Ideally, it would be a daily release of whatever percent that may have a constant pressure the market could get acclimated to....this is all speculation though as people may be interested in just holding like me :)

[xeroc]

I told you guys so :)

[Method-X]

+5% Yeah lets avoid a big dump after 2 years. It adds market uncertainty.

[biophil]

Vesting only applies to VOTE + DNS + PTS + AGS.

There is some confusion over whether or not claiming your funds early results in losing everything else... 

I think that you can claim them as they mature.... so after 1 year you are 50% liquid and 50% locked up.  After 2 years everyone should be able to claim 100% of their allocation.

This is a compromise on the liquidity proposition... the other idea would have incentivized people to hold on for 2 years to avoid losing anything.

In other words... everyone will eventually get 100% of their allocation.  No penalty for claiming your matured BTS.

Is the vesting curve continuous? I asked this somewhere else but my question got buried. So do I get 1/24 after the first month, 2/24 after the 2nd month, etc?