Most cryptocurrencies are backed by the computational power required to generate a trustworthy chain of ownership. Invictus is trying to develop a cryptocurrency that is backed by actual services provided by something. Sort of like stocks on the stock market are backed by the assets and revenues of the underlying company, "bitshares" are backed by that as well (it gets complicated because it can be more general than just "stocks", but for now let's pretend like there are just "stocks")
Stocks raise capital via IPO where stock is sold to the public, and money is raised in exchange for equity. Bitshares platform is raising money via a two fold process (it's like the ipo):
1) PTS are mined using proof of work, like traditional cryptocurrencies. This creates an alt coin with value. 50% of bitshares and at least 10% of all future invictus projects are given to protoshares holders. That means they are backed by "something." People now are speculating on what that "something" is worth and are pricing accordingly. As the value goes up, the PTS held by invictus goes up. This also creates assets that can be traded for AngelShares (below).
2) PTS and BTS are exchanged for AngelShares (AGS). Rather than paying for a cloud miner, you pay to an donation address and your shares are allocated accordingly. 50% of bitshares and at least 10% of all additional projects will be allocated for AGS. AGS to PTS exchange rate is about 2:1, so you can double your holdings if you donate. Once you donate, invictus gives your donations to developers working on bounties to build the bitshares platform. This is just like an IPO, in a way.
Once the platform is developed, all bitshares will be allocated to PTS and AGS holders, just like in an IPO. Bitshares will then be backed by whatever services/revenue streams that they represent (just like stock).
>For every pts I own I will get some form of new coin that derived from pts when they are released?
>If so how will this work?
The genesis block of the new coin will contain the value assigned to your address.
>Will I need a new wallet, will I have some id?
You will use an "import wallet" feature to import your PTS/BTC wallet to get access to your new assets.
>Is there a minimum amount of PTS I need to get this?
>How do the dividends work?
A little more complicated, this is still a work in progress - but dividends are priced in the value of the asset. e.g., if dividends worth 10% of the company are given out in a distribution, then everyone's assets increase by 10% (they are generated like miners generate coins).
>Will I get more pts for every transaction somebody else makes?
I don't think so, I believe miners get transaction fees.
>is this based on the amount of pts I own?
I think you're thinking of bitshares, there everyone gets transaction fees (it's basically dividends). protoshares miners do (please correct me if wrong!)
>What is a DAC in layman’s terms?
DAC = some stock representing work, but not necessarily interest in a company. If I code something for a project, you can pay me in DACs for the project. People can buy shares of the DAC, like stock, that represent profits from the project. As the project succeeds, it becomes more valuable (as it pays dividends), and people will want it more - raising the price.
>What does proof of stake actually mean?
rather than doing really hard computer math to verify transactions, you instead have blocks mined proportional to the ownership of the asset. If i own 10% of an asset, I will mine 10% of the blocks.http://bitcoin.stackexchange.com/questions/9082/what-is-proof-of-stakehttps://en.bitcoin.it/wiki/Proof_of_Stake
>and how will it change the mining game?
hard to say, no widespread implementations have been employed. It should reduce the possibility of a 51% attack and lower transaction fees. It also acts like dividends (proceeds are proportional to holdings).