Will someone explain what will exactly happen on 5th Nov regarding BTSX?

btcxyzzz · October 30, 2014, 05:40:08 PM

Quote from: xeroc on October 30, 2014, 05:12:05 PM
Be reminded .. that "airdropped" funds have a vesting period of 2 years .... which means .. you can get a 1/(2*365)-th part of your funds every day .. you can only withdraw all you funds after 2 years!

That introduces the risk of losing parts of your funds if the exchange shuts down within the next 2 years!
Unless you have them withdrawn to your own wallet!

So BTSX we already have on exchanges can be withdrawed no problem after 5th Nov, 2 years vesting period is only for new funds? I don't have PTS or AGS, I only have BTSX on exchange...

nomoreheroes7 · October 30, 2014, 05:38:00 PM

Quote from: progmac on October 30, 2014, 05:23:27 PM
I invested in Angelshares before the 2-28 deadline and received BTS-X. I've got that setup in my wallet. So this one doesn't mean anything to me, right?

Yup, AGS can just wait it out...you'll get BTS allocated on November 5th.

progmac · October 30, 2014, 05:23:27 PM

I invested in Angelshares before the 2-28 deadline and received BTS-X. I've got that setup in my wallet. So this one doesn't mean anything to me, right?

xeroc · October 30, 2014, 05:12:05 PM

Be reminded .. that "airdropped" funds have a vesting period of 2 years .... which means .. you can get a 1/(2*365)-th part of your funds every day .. you can only withdraw all you funds after 2 years!

That introduces the risk of losing parts of your funds if the exchange shuts down within the next 2 years!
Unless you have them withdrawn to your own wallet!

nomoreheroes7 · October 30, 2014, 05:01:56 PM

Quote from: btcxyzzz on October 30, 2014, 04:59:01 PM
Thanks, what does "airdrop BTX to PTS/AGS/DNS/VOTE" mean?

Basically they will receive shares in the new BTS based on the amount of PTS/AGS/DNS/VOTE they're holding at the time of the snapshot...therefore, it is important to keep any PTS and DNS you may have in your wallet on November 5th, so they can be included in the snapshot without worrying about whether the exchange will honor the airdrop.

btcxyzzz · October 30, 2014, 04:59:01 PM

Thanks, what does "airdrop BTX to PTS/AGS/DNS/VOTE" mean?

Rune · October 30, 2014, 04:58:28 PM

Unfortunately, as far as I understand we will not see an increase in market cap. That will not happen until the new genesis block is hard forked in, when the market cap will increase by 25%. Once it happens, however, the price shouldn't fall as a result of the higher supply.

nomoreheroes7 · October 30, 2014, 04:50:50 PM

Never keep your money on exchanges, first of all. But the snapshot is only to airdrop BTS to PTS/AGS/DNS/VOTE, BitSharesX will just change its name to BitShares. You can keep your BTSX wherever you want at the time of the snapshot as it won't be affected.

btcxyzzz · October 30, 2014, 04:46:27 PM

What is snapshot, I really do have trouble finding straight information about it all. It all seems a bit of unorganized to me.
Where we should keep our BTSX on that date, locally or on exchanges, does it matter at all?