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Offline quantumtangles

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I bought KeyID Bitshares DNS just before 5 November 2014 on BTER.  Information on BTER indicated that a snapshot would be taken and BTS would be redeemed (that is, credited to my BTER account after the snapshot).

Some time has elapsed but no credits have been made to my BTER account. BTER recently emailed me with the following explanation:

Dear Sir,

It is yet to be converted. The dns ended life on Nov 5 and it is worthless now.

We will distribute the bts to you when we get them from the dev.


Please kindly keep an eye on our tweet later for update.

Thanks


My questions are as follows:

1. Are the Key ID Bitshare DNS developers in the process of sending BTS to BTER and other trading exchanges?
2. Why has there been a long delay before sending BTS to BTER et al?
3. When is it expected that the devs will send BTS to BTER?
4. If the DNS is now worthless and the devs are unlikely to send BTS to BTER (based on the snapshot) is my investment worthless? Did I buy magic beans (I make no particular complaint as I knew it was high risk but I would like to establish the facts from the jedis here present).

Thanks in advance of any responses.
« Last Edit: November 14, 2014, 12:49:42 PM by quantumtangles »

Offline pc

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Re: Conversion of KeyID Bitshares DNS to Bitcoin - When will this happen?
« Reply #1 on: November 14, 2014, 02:29:53 PM »
Toast is currently creating a new genesis block with the sharedropped balances: https://bitsharestalk.org/index.php?topic=11198.0 .

To answer your questions:

> 1. Are the Key ID Bitshare DNS developers in the process of sending BTS to BTER and other trading exchanges?

Nobody will "send" any DNS anywhere. Instead, there will be a new release of the BTS client that includes the aforementioned sharedrop genesis block.

> 2. Why has there been a long delay before sending BTS to BTER et al?

Preparing aforementioned genesis block takes some time.

> 3. When is it expected that the devs will send BTS to BTER?

AFAIK there hasn't been a release date announced yet. I'd expect this to happen within the next two weeks or so, but that's just a wild guess.

> 4. If the DNS is now worthless and the devs are unlikely to send BTS to BTER (based on the snapshot) is my investment worthless? Did I buy magic beans (I make no particular complaint as I knew it was high risk but I would like to establish the facts from the jedis here present).

DNS are now worthless because the KeyID chain has been stopped. It has been stopped because of the sharedrop.
Your investment is not worthless, though, because the devs are *not* unlikely to "send" BTS to BTER. The fact that you owned DNS at the time of the snapshot entitles you to some of the sharedropped BTS.
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Offline quantumtangles

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Re: Conversion of KeyID Bitshares DNS to Bitcoin - When will this happen?
« Reply #2 on: November 15, 2014, 01:02:10 PM »
Sincere thanks for your response. I regret using terminology reflecting my ignorance. I do not know any better.

Offline quantumtangles

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Re: Conversion of KeyID Bitshares DNS to Bitcoin - When will this happen?
« Reply #3 on: November 29, 2014, 10:10:21 PM »
Still no sign of BTS. What in the world is going on?

Offline toast

Re: Conversion of KeyID Bitshares DNS to Bitcoin - When will this happen?
« Reply #4 on: November 29, 2014, 10:12:44 PM »
What do you mean? It's there, you can check it with "wallet_check_sharedrop" after you import your 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 quantumtangles

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Re: Conversion of KeyID Bitshares DNS to Bitcoin - When will this happen?
« Reply #5 on: December 08, 2014, 06:03:32 PM »
What do you mean? It's there, you can check it with "wallet_check_sharedrop" after you import your keys.

I understood that the devs would remit BTS to BTER at some point. In other words, I was expecting to see a BTS balance in my BTER account and to see the KeyID Bitshares DNS holding I have on BTER disappear at that point. Is it the case that I must carry out some jedi computer wizardry or can I sit back and wait for my BTER account to be credited with BTS at some future point? If so, has there been any indication when the transaction will be concluded? Thanks in advance for any response.

Offline toast

Re: Conversion of KeyID Bitshares DNS to Bitcoin - When will this happen?
« Reply #6 on: December 08, 2014, 06:36:19 PM »
What do you mean? It's there, you can check it with "wallet_check_sharedrop" after you import your keys.

I understood that the devs would remit BTS to BTER at some point. In other words, I was expecting to see a BTS balance in my BTER account and to see the KeyID Bitshares DNS holding I have on BTER disappear at that point. Is it the case that I must carry out some jedi computer wizardry or can I sit back and wait for my BTER account to be credited with BTS at some future point? If so, has there been any indication when the transaction will be concluded? Thanks in advance for any response.

The DNS will not disappear but is practically worthless until the project is restarted.
You should get a small amount of extra BTS for any DNS held, possibly in multiple pieces. Up to the exchanges to figure out who to credit when.
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.

 

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