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Offline bitmeat

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PTS -> BTS ratio?
« on: October 23, 2014, 12:38:20 AM »

So how many BTS will 1 PTS get? Has that been decided and set in stone by now?

Offline bitmeat

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Re: PTS -> BTS ratio?
« Reply #1 on: October 23, 2014, 03:15:23 AM »
Bueller? :)

Offline Riverhead

Re: PTS -> BTS ratio?
« Reply #2 on: October 23, 2014, 03:36:10 AM »
Since PTS is still being mined this number will go down a bit but for rough calculations it'll do.


2.5B BTS * 0.07 = 175,000,000 BTS


175,000,000 BTS /1,761,578 PTS = 99.34 BTS/PTS
« Last Edit: October 23, 2014, 03:38:24 AM by Riverhead »

Offline bitmeat

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Re: PTS -> BTS ratio?
« Reply #3 on: October 23, 2014, 03:43:54 AM »
If I am getting this right, at the moment selling 1 PTS would allow you to buy about 88 BTSX. Add 20% dilution and you get 88 * 1.2 = 105 BTS.

However keeping PTS would give you limited liquidity over 2 years and a worse price.

Well, tell me PTS holders are not shafted.

Offline Riverhead

Re: PTS -> BTS ratio?
« Reply #4 on: October 23, 2014, 03:46:55 AM »
Not quite. BTSX->BTS is 1:1. You'd get 88 BTS.


BTSX is 80% so 2.5Bx80% is 2B (right where it is now)


PTS right now is selling for about $2.21 on the exchanges (coinmarketcap.com) and the allocation will net you about $2.53/PTS (at current BTSX prices). So you can make about 12% buying PTS at current market assuming prices stay the same until Nov 5th (not bloody likely :) ).

« Last Edit: October 23, 2014, 03:50:40 AM by Riverhead »

Offline joele

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Re: PTS -> BTS ratio?
« Reply #5 on: October 23, 2014, 04:10:22 AM »

Current BTSX price is 0.0000655

99.34 BTS per PTS, the value of PTS will be 0.00650 btc

Current PTS price is 0.00569

So if you want to buy then keep PTS and merge to BTS, that is +12%  bonus

Offline tonyk

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Re: PTS -> BTS ratio?
« Reply #6 on: October 23, 2014, 04:16:03 AM »

Current BTSX price is 0.0000655

99.34 BTS per PTS, the value of PTS will be 0.00650 btc

Current PTS price is 0.00569

So if you want to buy then keep PTS and merge to BTS, that is +12%  bonus

Yeeeh, but those BTSX mature linearly over 2 years period. I have to think a bit how to calculate exactly what return is that...or I can wait for arhag to provide the formula for me   :), as I do not have any readily available BTC in the next 48h anyway  :)

[edit] OK it seamed to be loan amount of equal repayment amounts 2 year loan with each payment equal to [112% / # of payments]... not so hard after all...I will post the result tomorrow for anybody interested.

PS
Well I calculated it.
 12 % discount comes to about - 11.127% return over 2 years (assuming once a month withdrawals).
« Last Edit: October 23, 2014, 04:43:05 AM by tonyk »
Lack of arbitrage is the problem, isn't it. And this 'should' solves it.

Offline Riverhead

Re: PTS -> BTS ratio?
« Reply #7 on: October 23, 2014, 04:21:19 AM »
Yeeeh, but those BTSX mature linearly over 2 years period. I have to think a bit how to calculate exactly what return is that...or I can wait for arhag to provide the formula for me   :) , as I do not have any readily available BTC in the next 48h anyway  :)


Excellent point! You might be better off just buying BTSX and then after Nov 5th converting it to bitUSD and earning the yield while staying completely liquid.

Offline tonyk

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Re: PTS -> BTS ratio?
« Reply #8 on: October 23, 2014, 04:30:00 AM »
Yeeeh, but those BTSX mature linearly over 2 years period. I have to think a bit how to calculate exactly what return is that...or I can wait for arhag to provide the formula for me   :) , as I do not have any readily available BTC in the next 48h anyway  :)


Excellent point! You might be better off just buying BTSX and then after Nov 5th converting it to bitUSD and earning the yield while staying completely liquid.
Yes. On that front I am sure I will be better off if I get the liquidity right away... as I theoretically should do even better than just receiving the yield on bitSomething by simply being the yield provider  :)  I am not too concerned about making the right trade, I am more curious what exactly the current discount equals to [purely for my calculating pleasure].
Lack of arbitrage is the problem, isn't it. And this 'should' solves it.

Offline bitmeat

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Re: PTS -> BTS ratio?
« Reply #9 on: October 23, 2014, 04:32:10 AM »
That's my point - there is no real incentive to hold PTS at all with the current setup. Unless they make PTS not have to vest, which in my mind would be fair.

I mean it is liquid right now, so it's not like adding a lock to it is going to stop people from liquidating it.

Offline Riverhead

Re: PTS -> BTS ratio?
« Reply #10 on: October 23, 2014, 04:43:11 AM »
Maybe they're hoping people liquidate before the snapshot. Though this doesn't mean pts goes away...it just won't serve any purpose in 3I projects because 3I won't exist soon. If you have pts Nov 5th you'll still have them on the 6th and anyone can offer holders a stake in a current or future chain.

That said their value may not go to zero at 0001 UTC so you can still sell them post snapshot and buy BTS.

We're being AirDroped BTS so it's not like they are making pts illiquid.
« Last Edit: October 23, 2014, 04:45:06 AM by Riverhead »

Offline tonyk

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Re: PTS -> BTS ratio?
« Reply #11 on: October 23, 2014, 04:49:43 AM »
That's my point - there is no real incentive to hold PTS at all with the current setup. Unless they make PTS not have to vest, which in my mind would be fair.

I mean it is liquid right now, so it's not like adding a lock to it is going to stop people from liquidating it.

I still do not get your point though....

You want BM to make such an incentive or what?

PTS is a sell-able badge in my view - "Here, I am a Bitshares enthusiast. And my self proclaimed value is X" (X is the amount of badge I have bought). I am not contributing any other value to the system except purchasing said badge, and declaring my value to be as high as that.
 ohh and btw, at any second I choose I can sell this badge for whatever I find appropriate....
Lack of arbitrage is the problem, isn't it. And this 'should' solves it.

Offline clayop

Re: PTS -> BTS ratio?
« Reply #12 on: October 23, 2014, 04:53:30 AM »
My calculation...

PTS      1:99.34275
AGS     1:87.5
DNS     1:0.01875
VOTE   1:0.015
BTSX   1:1
Bitshares Korea - http://www.bitshares.kr
Vote for me and see Korean Bitshares community grows
delegate-clayop

Offline joele

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Re: PTS -> BTS ratio?
« Reply #13 on: October 23, 2014, 05:01:35 AM »
Is it possible other dev to take over PTS after Nov 5?
PTS is popular and it's already listed in exchangers.

Offline Stan

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Re: PTS -> BTS ratio?
« Reply #14 on: October 23, 2014, 05:04:07 AM »
Is it possible other dev to take over PTS after Nov 5?
PTS is popular and it's already listed in exchangers.

Absolutely.  I would encourage it.
Might be polite to coordinate with TestZ on that though...
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.

 

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