Could somebody ELI5?

[jwiz168]

Thanks Stan for clarifying as people are still confuse about Bitshare PTS being worthless .

[Stan]

Whats going on, are Bitshares-PTS worthless now? I havent been able to keep up much and this stuff is confusing enough for me o_O. I've read up a little and I see that PTS holders wont recieve 10% of future DACS anymore, is there a new one that will replace PTS or what?

Nothing has changed about PTS. 
Works the same way as always.

The PTS network has not produced a block in over 12 hours; so you can't possibly say that PTS "works" in any way whatsoever. What you mean is that PTS plays the same role in our community as always in terms of sharedropping and whatnot, but as a crypto-equity, PTS does not appear to "work."

Send transactions on the PTS network at your own risk.

Correct.  I should have said the snapshots work the same as always, which is the question I was attempting to answer. 

If someone upgrades the network then it will become more tradable, but its role will remain unchanged for those who hold them at the block to be honored.

[biophil]

Whats going on, are Bitshares-PTS worthless now? I havent been able to keep up much and this stuff is confusing enough for me o_O. I've read up a little and I see that PTS holders wont recieve 10% of future DACS anymore, is there a new one that will replace PTS or what?

Nothing has changed about PTS. 
Works the same way as always.

The PTS network has not produced a block in over 12 hours; so you can't possibly say that PTS "works" in any way whatsoever. What you mean is that PTS plays the same role in our community as always in terms of sharedropping and whatnot, but as a crypto-equity, PTS does not appear to "work."

Send transactions on the PTS network at your own risk.

[Gdemen]

Much love, thanks.

[oco101]

Whats going on, are Bitshares-PTS worthless now? I havent been able to keep up much and this stuff is confusing enough for me o_O. I've read up a little and I see that PTS holders wont recieve 10% of future DACS anymore, is there a new one that will replace PTS or what?

This explains everything : http://bitshares.org/bitshares-reloaded/

[biophil]

Whats going on, are Bitshares-PTS worthless now?

Nobody knows. There's a community over at http://pts.cubeconnex.com/ that is upgrading PTS, and they will snapshot the current version of PTS. The question we don't know the answer to is whether they'll use the snapshot from yesterday (November 5, 2014) or whether they'll take a new snapshot. The PTS network has almost completely stopped operating, which means that if you try to send PTS from your wallet, it's possible they will never arrive at their destination.

I've read up a little and I see that PTS holders wont recieve 10% of future DACS anymore, is there a new one that will replace PTS or what?

This is a rumor that has been circulating, but as far as I can tell, it's not currently true. (I say "currently" because all these things are subject to the whims of the community consensus) It looks to me that PTS (hopefully the upgraded version) will probably continue to have DACs sharedropped on it. See forum post by Stan here: https://bitsharestalk.org/index.php?topic=11063.msg145649#msg145649

[Stan]

Whats going on, are Bitshares-PTS worthless now? I havent been able to keep up much and this stuff is confusing enough for me o_O. I've read up a little and I see that PTS holders wont recieve 10% of future DACS anymore, is there a new one that will replace PTS or what?

Nothing has changed about PTS. 
Works the same way as always.
See the newsletter.

[Gdemen]

Whats going on, are Bitshares-PTS worthless now? I havent been able to keep up much and this stuff is confusing enough for me o_O. I've read up a little and I see that PTS holders wont recieve 10% of future DACS anymore, is there a new one that will replace PTS or what?