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Offline bitdraw

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ELI5 what is going on?
« on: October 24, 2014, 02:34:08 PM »

Hello,

i just wanted to ask if someone can explain whats going on with mergers, bitsharesDNS, pts etc..

its a pain to get through the threads and get all relevant information.

are there any snapshots you have to be aware of? tbh, i just dont get whats going on here.

please help. regards

Offline emski

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Re: ELI5 what is going on?
« Reply #1 on: October 24, 2014, 02:42:48 PM »
nobody knows

EDIT: It is not yet happening , It is going to happen. What exactly is still not 100% certain.

Offline davidpbrown

Re: ELI5 what is going on?
« Reply #2 on: October 24, 2014, 02:47:46 PM »
To me the proposal looks to be a simple change from new DACs honoring PTS/AGS to also now honoring BTSX; coupled with drawing together the devs and value from certain DACs and maximising their contributions, all then becomes within a new BTS. The benefits far out way the losses. The anxiety about what was commitment to PTS/AGS; and the change this means for KeyID/DNS; Vote; etc, has spawned a lot of chatter.. but it's all good.

It isn't clear when this might happen, though 5th Nov snapshots has been suggested. Hopefully it'll be just a simple merging of marketcaps into one bigger stronger BTS, where there were multiple flavours inc BTSX.
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Offline pc

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Re: ELI5 what is going on?
« Reply #3 on: October 24, 2014, 02:49:31 PM »
are there any snapshots you have to be aware of?

nov 5 will be the end of DNS and in a way of PTS. Make sure everything is in your wallets before that day.

tbh, i just dont get whats going on here.

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Offline matt608

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Re: ELI5 what is going on?
« Reply #4 on: October 24, 2014, 02:50:58 PM »
BM is on mumble now, he said an official announcement about the merger should be out next week.

Offline CLains

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Re: ELI5 what is going on?
« Reply #5 on: October 24, 2014, 03:58:39 PM »
How I understand it so far:

The core team is rebranding BitShares X simply as "BitShares" and paying off any outstanding promises to PTS/AGS/DNS/VOTE holders and whoever else wants to join (Play? Music?) by giving them shares in the new BitShares. This way the core team simplifies the message ("Just buy bitUSD or BitShares!"), focuses the effort (*Hug Toast all day!*), and reduces fragmentation ("Vote virals for US!").

Offline bitdraw

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Re: ELI5 what is going on?
« Reply #6 on: October 24, 2014, 04:23:32 PM »
ok, so i just have to keep all my DNS in my wallet by 5th and im fine? what happens to the bitshares-music snapshot that was made, as it has not been honored yet and i sold my bitshares pts after the music snapshot?

is the vote snapshot still gonna be honored?

Offline biophil

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Re: ELI5 what is going on?
« Reply #7 on: October 24, 2014, 04:40:25 PM »
ok, so i just have to keep all my DNS in my wallet by 5th and im fine? what happens to the bitshares-music snapshot that was made, as it has not been honored yet and i sold my bitshares pts after the music snapshot?

is the vote snapshot still gonna be honored?

The Music snapshot will (as of now, anyway) still give you NOTEs just like they said it would.

The VOTE snapshot is being rolled into the new BitShares. There will never be a separate Vote blockchain, but if you participated in the Vote snapshot, you'll get extra shares of the new BitShares (BTS).

 

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