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Offline klosure

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BTER and the PTS/BTS merger
« on: December 28, 2014, 08:27:32 AM »

Hi, I am a PTS holder but haven't been following discussions here for a few months and am pretty unsettled and confused by the changes that occured in the Bitshares universe while I wasn't paying attention.

In particular, I am really puzzled about that PTS/BTS merger / airdrop story. I have deposited my PTS on BTER before the MUSIC snapshot and kept my balance there since then as BTER is claiming to honor airdrops. My balance was snapshotted for MUSIC, as well as the snapshots of 5 Nov, 14 Dec and DPOS. However I haven't received any BTS following the recent PTS/BTS merger and have therefore missed out completly on the BTS snapshot for PLAY. I thouht BTER was supposed to honor airdrops on PTS. Did I miss something? Some explanations would be greatly welcome. Thanks.

Offline btswildpig

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Re: BTER and the PTS/BTS merger
« Reply #1 on: December 28, 2014, 10:34:40 AM »
Hi, I am a PTS holder but haven't been following discussions here for a few months and am pretty unsettled and confused by the changes that occured in the Bitshares universe while I wasn't paying attention.

In particular, I am really puzzled about that PTS/BTS merger / airdrop story. I have deposited my PTS on BTER before the MUSIC snapshot and kept my balance there since then as BTER is claiming to honor airdrops. My balance was snapshotted for MUSIC, as well as the snapshots of 5 Nov, 14 Dec and DPOS. However I haven't received any BTS following the recent PTS/BTS merger and have therefore missed out completly on the BTS snapshot for PLAY. I thouht BTER was supposed to honor airdrops on PTS. Did I miss something? Some explanations would be greatly welcome. Thanks.

The BTS for PTS from 11.05 snapshot is vested in for 2 years (linear unlock though 2 years slowly) .
The PLAY from the locked in balance of BTS is supposed to be snapshoted , I think bter just haven process that yet , the snapshot for PLAY is no vest in for two years .
detail :   https://bitsharestalk.org/index.php?topic=10844.0
« Last Edit: December 28, 2014, 01:56:38 PM by btswildpig »
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Offline klosure

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Re: BTER and the PTS/BTS merger
« Reply #2 on: December 28, 2014, 02:27:44 PM »
Hi, I am a PTS holder but haven't been following discussions here for a few months and am pretty unsettled and confused by the changes that occured in the Bitshares universe while I wasn't paying attention.

In particular, I am really puzzled about that PTS/BTS merger / airdrop story. I have deposited my PTS on BTER before the MUSIC snapshot and kept my balance there since then as BTER is claiming to honor airdrops. My balance was snapshotted for MUSIC, as well as the snapshots of 5 Nov, 14 Dec and DPOS. However I haven't received any BTS following the recent PTS/BTS merger and have therefore missed out completly on the BTS snapshot for PLAY. I thouht BTER was supposed to honor airdrops on PTS. Did I miss something? Some explanations would be greatly welcome. Thanks.

The BTS for PTS from 11.05 snapshot is vested in for 2 years (linear unlock though 2 years slowly) .
The PLAY from the locked in balance of BTS is supposed to be snapshoted , I think bter just haven process that yet , the snapshot for PLAY is no vest in for two years .
detail :   https://bitsharestalk.org/index.php?topic=10844.0
In the link you provide, Stan mentions that exchanges will honor DNS but doesn't say a word about PTS.
Is there someplace in the forum where BTER is making updates so that I can check what they say about this?

Offline fuzzy

Re: BTER and the PTS/BTS merger
« Reply #3 on: December 28, 2014, 02:58:56 PM »
Hi, I am a PTS holder but haven't been following discussions here for a few months and am pretty unsettled and confused by the changes that occured in the Bitshares universe while I wasn't paying attention.

In particular, I am really puzzled about that PTS/BTS merger / airdrop story. I have deposited my PTS on BTER before the MUSIC snapshot and kept my balance there since then as BTER is claiming to honor airdrops. My balance was snapshotted for MUSIC, as well as the snapshots of 5 Nov, 14 Dec and DPOS. However I haven't received any BTS following the recent PTS/BTS merger and have therefore missed out completly on the BTS snapshot for PLAY. I thouht BTER was supposed to honor airdrops on PTS. Did I miss something? Some explanations would be greatly welcome. Thanks.

The BTS for PTS from 11.05 snapshot is vested in for 2 years (linear unlock though 2 years slowly) .
The PLAY from the locked in balance of BTS is supposed to be snapshoted , I think bter just haven process that yet , the snapshot for PLAY is no vest in for two years .
detail :   https://bitsharestalk.org/index.php?topic=10844.0
In the link you provide, Stan mentions that exchanges will honor DNS but doesn't say a word about PTS.
Is there someplace in the forum where BTER is making updates so that I can check what they say about this?

Very good question closure.  In my experience BTER and BTC38 both tend to fall in line with BM's and Stan's statements. I am fairly confident they will honor whatever snapshot tokens BM and Stan publicly endorse as such.
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Offline klosure

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Re: BTER and the PTS/BTS merger
« Reply #4 on: January 14, 2015, 12:03:41 PM »
[Updated Cautionary Notes]

Be sure to have your PTS & DNS out of the exchanges
and back in your wallets on Nov 5th.

BTER and BTC38 will honor DNS
but will have to stay in business two years to issue them as they vest.
How about PTS deposited at exchanges?
Why ensure that exchanges honor DNS but not PTS?

@ Stan / I3: can you please clarify the above?

When I purchased PTS, the sales pitch was that it was the official sharedrop target of I3 upcoming DACs and the recommanded sharedrop target for future  Bitstamp based DACs, it was supposed to receive sharedrops of MUSIC and PLAY, and exchanges such as BTER were supposed to honor all the official sharedrops from I3. I therefore purchased a decent amount of PTS, and deposited it to BTER to let them manage on my behalf the MUSIC and PLAY sharedrop and any other upcoming sharedrop that would potentially occur. I followed the matter until the MUSIC snapshot, did obseve that by balance had been properly snapshotted for MUSIC, and went on with other things (I have a life, and do not have the time to read regularly the forums of everything I invest in).

Two months later, I find that in the meantime:
PTS was stripped from its only meaningful role as official sharedrop target of I3 and recommanded sharedrop target of the future Bitstamp based DACs.
PTS lost most of its value due to the above.
BTER didn't honor the BTS sharedrop on PTS and didn't send me any of the BTS (locked or not) I was supposed to receive folowing the merger.
BTER isn't showing any sign that they are working on it and will eventually (albeit late) honor the BTS sharedrop.
PLAY isn't being shareddropped on PTS anymore unlike what was promised. It's now being sharedrop on PTS, and I'm not getting any of it since I haven't got my BTS from the BTS sharedrop on PTS.
There is no information anywhere including in I3's announcement about whether exchanges are supposed to honor the BTS sharedrop on PTS.

The most puzzling thing is that in the quote from Stan I gave above from the october announcement, it appears that I3 did discuss with BTER and BTC38 to confirm that they were going to honor the BTS sharedrop on DNS, but didn't confirm the same about PTS or at least didn't mention it in the announcement so that neither the exchanges nor the exchange users know if officially exchanges should be honoring the BTS sharedrop on PTS. WTF.

Please clarify

Offline kokojie

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Re: BTER and the PTS/BTS merger
« Reply #5 on: January 14, 2015, 03:12:24 PM »
If they are locked, how is BTER is going to give you any BTS from the merger? No one has received any BTS vesting from the merger yet, they will come in future versions of BTS wallet.

Offline Bitty

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Re: BTER and the PTS/BTS merger
« Reply #6 on: January 14, 2015, 03:16:10 PM »
We indeed need a complete clarification on all of the above.
PTS and AGS holder, as early believers and investors in the promising projects, deserve to receive this clarifiation!

Offline toast

Re: BTER and the PTS/BTS merger
« Reply #7 on: January 14, 2015, 03:17:59 PM »
bter will honor snapshots but obviously cannot do anything until balances are unlocked
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Offline klosure

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Re: BTER and the PTS/BTS merger
« Reply #8 on: February 14, 2015, 02:33:42 PM »
bter will honor snapshots but obviously cannot do anything until balances are unlocked
Although the new wallet is out since a few weeks and balances have already vested partially, still no BTS  sharedrop on PTS at BTER. Again, BTER is showing no sign that it will honor the sharedrop on PTS.
Can you please check with them and make sure that they are working on it.

 

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