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Offline markzookerburg

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Is it right to trade PTS against BTC?
« on: December 06, 2013, 05:18:31 PM »

I feel its not right to compare Protoshares with something like bitcoins.
While I understand the need to protect identities here and keep things anonymous -don't you think the rise and drop of value in bitcoins affect protoshare pricing?


Example
Market rate of 0.01 when BTC is at 1000 usd gets you 10 usd per share
Market rate of 0.01 when BTC is set at 700 USD gets you 7 usd per share


Why should PTS be dependant on BTC pricing.
I think we should mould our sale prices with the changes in btc rates

Offline phoenix

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Re: Is it right to trade PTS against BTC?
« Reply #1 on: December 06, 2013, 05:56:44 PM »
PTS are designed to be the cornerstone of a decentralized industry of DACs, so trading against another decentralized currency is the most appropriate way to decide an exchange factor. Frankly, using USD or another centrally controlled currency as a reference is a crutch in the path to decentralization.
Protoshares: Pg5EhSZEXHFjdFUzpxJbm91UtA54iUuDvt
Bitmessage: BM-NBrGi2V3BZ8REnJM7FPxUjjkQp7V5D28

Offline bytemaster

Re: Is it right to trade PTS against BTC?
« Reply #2 on: December 06, 2013, 06:49:09 PM »
PTS are designed to be the cornerstone of a decentralized industry of DACs, so trading against another decentralized currency is the most appropriate way to decide an exchange factor. Frankly, using USD or another centrally controlled currency as a reference is a crutch in the path to decentralization.

That and markets already handle all of the arbitrage opportunities. 
For the latest updates checkout my blog: http://bytemaster.bitshares.org
Anything said on these forums does not constitute an intent to create a legal obligation or contract between myself and anyone else.   These are merely my opinions and I reserve the right to change them at any time.

Offline stuartcharles

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Re: Is it right to trade PTS against BTC?
« Reply #3 on: December 06, 2013, 07:48:23 PM »
I feel its not right to compare Protoshares with something like bitcoins.
While I understand the need to protect identities here and keep things anonymous -don't you think the rise and drop of value in bitcoins affect protoshare pricing?


Example
Market rate of 0.01 when BTC is at 1000 usd gets you 10 usd per share
Market rate of 0.01 when BTC is set at 700 USD gets you 7 usd per share


Why should PTS be dependant on BTC pricing.
I think we should mould our sale prices with the changes in btc rates

I dont know if you noticed but yesterday (when i looked) PTS were the only top 10 currency on coinmarketcap that was in positive and this morning when i looked PTS were the only one in negative (its different now 19-46pm GMT  because everyone is in panic mode) But it did make me think both times i looked that the market is seeing this as something different.

Offline Lighthouse

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Re: Is it right to trade PTS against BTC?
« Reply #4 on: December 06, 2013, 08:24:33 PM »
I feel its not right to compare Protoshares with something like bitcoins.
While I understand the need to protect identities here and keep things anonymous -don't you think the rise and drop of value in bitcoins affect protoshare pricing?


Example
Market rate of 0.01 when BTC is at 1000 usd gets you 10 usd per share
Market rate of 0.01 when BTC is set at 700 USD gets you 7 usd per share


Why should PTS be dependant on BTC pricing.
I think we should mould our sale prices with the changes in btc rates

I dont know if you noticed but yesterday (when i looked) PTS were the only top 10 currency on coinmarketcap that was in positive and this morning when i looked PTS were the only one in negative (its different now 19-46pm GMT  because everyone is in panic mode) But it did make me think both times i looked that the market is seeing this as something different.
Most of the market doesn't yet understand that Protoshares represents the first of a new type of thing, cryptoequities.  Instead of being currencies where the value comes from the network and how spendable it is, Cryptoequities trade on the value imbued in them by a creator or company who voluntarily backs it.   

This means the point of failure is very centralized (whomever backs it) but it also means it doesn't have to have a big network in order to be valuable, it just has to be honored by the backer.

Protoshares is trading oddly because people dont know what to make of it, but motion attracts the attention of simple minded creatures.  Whenever invictus launches the first product that honors the social contract I think people will understand.
Before you say the price of PTS is too high, take a look at theThe Reason.  Protoshares are an entirely new type of Cryptocurrency, one that pays to hold.

Offline Stan

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Re: Is it right to trade PTS against BTC?
« Reply #5 on: December 06, 2013, 09:15:29 PM »
I feel its not right to compare Protoshares with something like bitcoins.
While I understand the need to protect identities here and keep things anonymous -don't you think the rise and drop of value in bitcoins affect protoshare pricing?


Example
Market rate of 0.01 when BTC is at 1000 usd gets you 10 usd per share
Market rate of 0.01 when BTC is set at 700 USD gets you 7 usd per share


Why should PTS be dependant on BTC pricing.
I think we should mould our sale prices with the changes in btc rates

I dont know if you noticed but yesterday (when i looked) PTS were the only top 10 currency on coinmarketcap that was in positive and this morning when i looked PTS were the only one in negative (its different now 19-46pm GMT  because everyone is in panic mode) But it did make me think both times i looked that the market is seeing this as something different.
Most of the market doesn't yet understand that Protoshares represents the first of a new type of thing, cryptoequities.  Instead of being currencies where the value comes from the network and how spendable it is, Cryptoequities trade on the value imbued in them by a creator or company who voluntarily backs it.   

This means the point of failure is very centralized (whomever backs it) but it also means it doesn't have to have a big network in order to be valuable, it just has to be honored by the backer.

Protoshares is trading oddly because people dont know what to make of it, but motion attracts the attention of simple minded creatures.  Whenever invictus launches the first product that honors the social contract I think people will understand.

To be successful in the short term, a fledgling DAC, (um, a DACling), needs someone strong and dependable to support it while it grows.
To be successful in the long term, the DACling needs to become independent of any single point failure, including its parent. 

We must always have a plan to cut the tether to its parent company, which must remain in fiat space where it could be seduced or coerced into corruption at some point.  That's why DAC engineering must include the engineering of a distributed development community.  So the parent company can let go and know there's a whole community looking out for its baby.

That's why we seek free-lance developers on 6 continents (we span 3 so far). 

But I agree, it can still be profitable for its shareholders long before it becomes a sovereign creature of Free Space.
Anything said on these forums does not constitute an intent to create a legal obligation or contract of any kind.   These are merely my opinions which I reserve the right to change at any time.

Offline markzookerburg

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Re: Is it right to trade PTS against BTC?
« Reply #6 on: December 07, 2013, 04:31:59 AM »
Problem is this worries even investors like me.
I have aroud 3000 coins and am begining to panic.
can we please have a few rounds of Press releases made so that the general public is made aware and prices increase?
I understand it takes time to do something major, but hey! we can start with the promotions already

Offline Lighthouse

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Re: Is it right to trade PTS against BTC?
« Reply #7 on: December 07, 2013, 03:06:41 PM »
Problem is this worries even investors like me.
I have aroud 3000 coins and am begining to panic.
can we please have a few rounds of Press releases made so that the general public is made aware and prices increase?
I understand it takes time to do something major, but hey! we can start with the promotions already

I'm not a big fan of this.  There is no reason to raise the profile of the project before release, Protoshares traded up on Bitcoin while Bitcoin was going up and they held steady while it was going up and they went down while it was going up.  The price of Bitcoin in US dollars has nothing to do with the price of protoshares, you should stop thinking about it.   Are you planning to sell your PTS?  If not, sit tight - The game will change once the first DAC releases but if it's a rushed, botched release I don't think it will be for the better.  Need to get it right and prove they can deliver before talking up the price, as Invictus is the only thing the price depends on.

Are you trying to sell right now?  What is your rush given how many you've got.

Also if you have 3k PTS, may I suggest you add to the bounty for an implementation of Armory Wallet that will handle PTS?
https://bitsharestalk.org/index.php?topic=809.0

I've put in 100pts and Bytemaster has put in 50pts
Before you say the price of PTS is too high, take a look at theThe Reason.  Protoshares are an entirely new type of Cryptocurrency, one that pays to hold.

Offline liquiddrool

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Re: Is it right to trade PTS against BTC?
« Reply #8 on: December 11, 2013, 04:00:58 AM »
Problem is this worries even investors like me.
I have aroud 3000 coins and am begining to panic.
can we please have a few rounds of Press releases made so that the general public is made aware and prices increase?
I understand it takes time to do something major, but hey! we can start with the promotions already

The troll possibility is strong in this one.

But what I noticed in the most recent BTC crash PTS held to about the same amount of BTC it had been trading to, all throughout the crash, with only a few jitters.  Every day the trading gap is closing and it is getting more steady.

 

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