Author Topic: Fix for DNS Holders who lost money buying into DNS  (Read 36082 times)

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Offline sirlo

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I'm trying to see if bter and btc38 can do retroactive snapshots

Hey toast, 
Thank you… I appreciate the sentiment expressed and fully recognize that you are doing
your best under arduous circumstances.
Even though I have a fair amount of business experience ( in startup and other situations) this merger and its aftermath was not exactly the kind of situation someone on the outside could foresee or hedge against  -- even with a pocketful of bitUSD   .
But I know how dynamic situations can be when you are breaking new ground so to speak ..and this DAC/DPOS ecosphere is quite pioneering.. and for me it’s a challenging learning curve and I’m sure for most  “newbie -investor-shareholder– enthusiasts “   it’s also a venture into unknown territory ..  I was trying to choose whether to invest in precious metals, DNS or BTC…I chose DNS…

So obviously you, BM etc., had to make some tough choices and I see that the I3 team is voluntarily trying to provide consolation at their own expense --  which in this day and age is indeed a rare principled and altruistic gesture.
So kudos, you exhibit much integrity and that gives me faith to probably invest even more than I might have initially contemplated & I will continue to support..
The silver lining in this situation is that I and  all US taxpayers can still write off up to $3k in capital losses against ordinary income on our tax returns and for those who may have incurred greater losses they can carry them forward to future years to be offset against, HOPEFULLY, substantial  BTS(x)capital gains.!   
I don’t know about the tax laws in other countries but all US based investors are aware of this, so no harm in reminding DNS (USA) holders..   and of course those of us who have also lost a chunk on BTC…(    are painfully aware..LOL !
So the best solace is success and I wish the best for all the DACs..(or  as of Nov. 5th..a.k.a. BTS features..!)

and thanks to Hadrian (link) also for his or her words
https://bitsharestalk.org/index.php?topic=10381.75
I think it was just a case of unfortunate timing for me.

Offline Riverhead

Thankyou toast but I also bought many on BTC 38 once oversold.

How can I look after these babys?

Is it your hope that someone else picks up the mantle of the DNS/KeyID in two years? Just want to make sure you know what's actually happening :).

After Nov 5th your DNS will still be liquid. It's the BTS that is airdropped for you in the new DAC, based on your DNS balance, that vests over two years.

Offline Mysto

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Actually I'm not a trader, I was newbie trying to get a wallet registered because I couldn't move my DNS otherwise
and so I left my DNS on my BTER account for a few days and now..

 I'm SOL simply because..??  a bitshares registration procedure prevented me from immediately moving my dns purchase from the exchange which I would have normally done.

Quite a memorable first BitShares experience I'm having..

All those who bought at Bter are out of luck? All those who claimed after the announcement and sold are also at a loss?

The gainers are those who claimed earlier and sold immediately after the announcement. They got a good price and some free DNS.

Or have I misunderstood it all completely?

I don't think there are any losers except those with funds on the exchange and US.  Those with funds on an exchange were "traders"... those who bought in the days prior and withdrew to hold are OK... those who bought or sold after the announcement are also OK.

maybe BTER can settel this if they hold records. They are forward looking people who will give our share if they can.

really funny part is. BTSX is building a trading plattform and the only people who are always screwed are "traders". i don't get the logic behind, if the traders just fud to get rid of them. i am not a trader i invest and kept the bought DNS on BTER out of convience.

Yup I'm in the same exact boat  :(
Hopefully BTER can do something!

Offline mf-tzo

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Quote
Transfer them to your wallet [bter allows transfer to public key]. Use 72character password for the wallet. Print the password 7 times and store the 7 copies in 7 different secure locations [underground bunkers]. After 1 month or so import all your funds in BTS. Delete the DNS and BTS client. Burn the computer and throw the ashes in the nearest ocean. After 2 years,sell 5% of your BTS stake and retire...

Probably the best advice I 've seen so far.. +5%

Offline Anytime

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My PTS wallet cannot be installed in the computer, windows 8.1 (i know some window8.1 can , but not my computer. the install program still have some problems, i tried to figured out this question and asked for help on this forum, but it can not be solved), and since i thought i should hold DNS for a long time just like AGS, PTS, BTS, because i am a long-term supporter.

however, the result is that BM is going to compensate some speculators, not the long-term supporters?????????????????
i feel really dissappointed.

BM only tries to kiss ass to the new comers, but not our long-term supporters.  this happened many times. a little frustrated and very dissappointed.  3I could use the money do whatever they want and do not need us to vote for the advice, is this community consensus????????????????

Thanks, can 3I team member answer me this.

Offline tonyk

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Ok so I have DNS from AGS that are still in genesis that can stay there. I see the long term benefits of 2 year vesting through DNS and go buy them ridiculously cheap on BTC 38.

I want a safe place for my DNS where I can stash them for my BTS treat in 2 years. What do I do? No chance anyone in their right mind will leave an exchange to safe keep for the 2 year period.

Transfer them to your wallet [bter allows transfer to public key]. Use 72character password for the wallet. Print the password 7 times and store the 7 copies in 7 different secure locations [underground bunkers]. After 1 month or so import all your funds in BTS. Delete the DNS and BTS client. Burn the computer and throw the ashes in the nearest ocean. After 2 years,sell 5% of your BTS stake and retire...
Lack of arbitrage is the problem, isn't it. And this 'should' solves it.

Offline toast

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Ok so I have DNS from AGS that are still in genesis that can stay there. I see the long term benefits of 2 year vesting through DNS and go buy them ridiculously cheap on BTC 38.

I want a safe place for my DNS where I can stash them for my BTS treat in 2 years. What do I do? No chance anyone in their right mind will leave an exchange to safe keep for the 2 year period.

If they're still in the AGS keys then you can just leave them as they are. You can claim them in BTS as they vest using those same keys.

Thankyou toast but I also bought many on BTC 38 once oversold.

How can I look after these babys?

BTC38 will honor the november 5th snapshot, but if you want to take care of them yourself then you can withdraw to a DNS wallet.
Do not use this post as information for making any important decisions. The only agreements I ever make are informal and non-binding. Take the same precautions as when dealing with a compromised account, scammer, sockpuppet, etc.

Offline johncitizen

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Ok so I have DNS from AGS that are still in genesis that can stay there. I see the long term benefits of 2 year vesting through DNS and go buy them ridiculously cheap on BTC 38.

I want a safe place for my DNS where I can stash them for my BTS treat in 2 years. What do I do? No chance anyone in their right mind will leave an exchange to safe keep for the 2 year period.

If they're still in the AGS keys then you can just leave them as they are. You can claim them in BTS as they vest using those same keys.

Thankyou toast but I also bought many on BTC 38 once oversold.

How can I look after these babys?

Offline toast

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Ok so I have DNS from AGS that are still in genesis that can stay there. I see the long term benefits of 2 year vesting through DNS and go buy them ridiculously cheap on BTC 38.

I want a safe place for my DNS where I can stash them for my BTS treat in 2 years. What do I do? No chance anyone in their right mind will leave an exchange to safe keep for the 2 year period.

If they're still in the AGS keys then you can just leave them as they are. You can claim them in BTS as they vest using those same keys.
Do not use this post as information for making any important decisions. The only agreements I ever make are informal and non-binding. Take the same precautions as when dealing with a compromised account, scammer, sockpuppet, etc.

Offline johncitizen

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Ok so I have DNS from AGS that are still in genesis that can stay there. I see the long term benefits of 2 year vesting through DNS and go buy them ridiculously cheap on BTC 38.

I want a safe place for my DNS where I can stash them for my BTS treat in 2 years. What do I do? No chance anyone in their right mind will leave an exchange to safe keep for the 2 year period.


Offline oldman

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Yet another example of why Bitshares has the best dev team in the business.

Remember, all investments are ultimately investments in people.

Good advice.

mmmmmmmmmmmmmmm

you are right. so i just invested in the wrong people - oh, sry - they are the same you are talking, but maybe you are on the sunny side of the merger and i am not  ;)

The majority of my investment in Bitshares was AGS and PTS, pre and post Feb. 28.

We are probably on the same side.

What I see is a great dev team doing whatever it takes to push out the best tech possible.

Ultimately this approach will maximize returns for shareholders.

Short term vs. long term greed...

Offline toast

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I'm trying to see if bter and btc38 can do retroactive snapshots

At this point in time that may be asking a lot in cost benefit...  We already narrowed the cost down to $325K which assuming only 20% was on exchanges we are talking $60,000.  The cost to the exchanges exceeds all fees they might have earned... it was our issue not theirs.    Lets save our relationship with the exchanges first by minimizing the amount of disruption we cause them.

oh,another exchange you need to contact is Yunbi  ,they're one of the DNS and BTSX exchange too,and doing great.
They're funded by Li XiaoLai(you know who...).
how do you want to contact them,I can help.

Thanks for mention Mars.Walker :)

Yunbi is capable of retroactive snapshots. We'll do our best to protect our customers' investments.

Wow, thank you! Great to hear.
Do not use this post as information for making any important decisions. The only agreements I ever make are informal and non-binding. Take the same precautions as when dealing with a compromised account, scammer, sockpuppet, etc.

Offline janx

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I'm trying to see if bter and btc38 can do retroactive snapshots

At this point in time that may be asking a lot in cost benefit...  We already narrowed the cost down to $325K which assuming only 20% was on exchanges we are talking $60,000.  The cost to the exchanges exceeds all fees they might have earned... it was our issue not theirs.    Lets save our relationship with the exchanges first by minimizing the amount of disruption we cause them.

oh,another exchange you need to contact is Yunbi  ,they're one of the DNS and BTSX exchange too,and doing great.
They're funded by Li XiaoLai(you know who...).
how do you want to contact them,I can help.

Thanks for mention Mars.Walker :)

Yunbi is capable of retroactive snapshots. We'll do our best to protect our customers' investments.

Offline Riverhead


Offline liondani

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