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Offline Btc38

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Anouncement Concerning BTS Vesting
« on: January 20, 2015, 09:22:30 AM »

Dear Customer,
 
The 0.5.0 version of BTS has been released ,with a significant feature of defreezing vested BTS from the merge of PTS, DNS, VOTE and AGS, which starts at block height 1575500.
 
We urge you to update to 0.5.0, moreover, we are happy to announce that the snapshots of PTS, DNS and VOTE will transformer to BTS vesting very soon on your balance.
 
Here is the proportion of each snapshot:
 
1PTS=99.2689 BTS
1DNS=0.01855 BTS
1VOTE=0.015 BTS
 
The BTS vesting will be unfrozen everyday, with a percentage of 1/730 per day(2 year of vesting period).
 
If you need any further assistance, please feel free to contact us.
 
BTC38.com
2015/01/20
BTC38: One step a footprint is true

Offline cass

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Re: Anouncement Concerning BTS Vesting
« Reply #1 on: January 20, 2015, 09:26:36 AM »
 +5%
█║▌║║█  - - -  The quieter you become, the more you are able to hear  - - -  █║▌║║█

Offline xeroc

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Re: Anouncement Concerning BTS Vesting
« Reply #2 on: January 20, 2015, 10:00:41 AM »
+5% ... your are doing an awesome job!!
Give BitShares a try! Use the http://testnet.bitshares.eu provided by http://bitshares.eu powered by ChainSquad GmbH


Offline lastagile

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Re: Anouncement Concerning BTS Vesting
« Reply #4 on: January 20, 2015, 11:44:02 AM »
another dump will begin

Offline graffenwalder

Re: Anouncement Concerning BTS Vesting
« Reply #5 on: January 20, 2015, 11:59:15 AM »

Offline islandking

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Re: Anouncement Concerning BTS Vesting
« Reply #6 on: January 20, 2015, 01:24:41 PM »
Get ready for the massive sell off.
I've been working on a new electronic cash system that's fully peer-to-peer, with no trusted third party. - Satoshi

Offline graffenwalder

Re: Anouncement Concerning BTS Vesting
« Reply #7 on: January 20, 2015, 01:37:08 PM »
Get ready for the massive sell off.

Are you guys serious?

Even if everybody that has a vesting balance, would sell of their part everyday.
That would be 685.000 BTS sell pressure, sure this would hurt the price a little bit.

But do you really think everyone is going to sell off their vesting balances?

I would be surprised if it was more than 10% of that.
Unfortunately there is no way to measure this.

Offline islandking

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Re: Anouncement Concerning BTS Vesting
« Reply #8 on: January 20, 2015, 01:42:50 PM »
Get ready for the massive sell off.

Are you guys serious?

Even if everybody that has a vesting balance, would sell of their part everyday.
That would be 685.000 BTS sell pressure, sure this would hurt the price a little bit.

But do you really think everyone is going to sell off their vesting balances?

I would be surprised if it was more than 10% of that.
Unfortunately there is no way to measure this.

52,000,000 BTS is unlocked today. Even if 10% of that is dumped that is still 5.8 million BTS on 1 day. Going forward the vesting balances are going to put downward pressure on BTS.
I've been working on a new electronic cash system that's fully peer-to-peer, with no trusted third party. - Satoshi

Offline graffenwalder

Re: Anouncement Concerning BTS Vesting
« Reply #9 on: January 20, 2015, 01:47:28 PM »
Get ready for the massive sell off.

Are you guys serious?

Even if everybody that has a vesting balance, would sell of their part everyday.
That would be 685.000 BTS sell pressure, sure this would hurt the price a little bit.

But do you really think everyone is going to sell off their vesting balances?

I would be surprised if it was more than 10% of that.
Unfortunately there is no way to measure this.

52,000,000 BTS is unlocked today. Even if 10% of that is dumped that is still 5.8 million BTS on 1 day. Going forward the vesting balances are going to put downward pressure on BTS.
Just curious how did you come to that 52 million number?

I thought that vesting balances would be unlocked spread over 2 years.
500.000.000/730= 684931 BTS a day.

Offline islandking

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Re: Anouncement Concerning BTS Vesting
« Reply #10 on: January 20, 2015, 01:51:50 PM »
Because the vesting period started in November and they are just being unlocked now.

Well let's see...I believe the vesting period began on 11/5/14, right? Two and a half months. And the vesting is for a period of 2 years...which means approx. 52,083,333 of the 500,000,000 new BTS will be unlocked at once.
I've been working on a new electronic cash system that's fully peer-to-peer, with no trusted third party. - Satoshi

Offline graffenwalder

Re: Anouncement Concerning BTS Vesting
« Reply #11 on: January 20, 2015, 01:56:00 PM »
Because the vesting period started in November and they are just being unlocked now.

Well let's see...I believe the vesting period began on 11/5/14, right? Two and a half months. And the vesting is for a period of 2 years...which means approx. 52,083,333 of the 500,000,000 new BTS will be unlocked at once.

Thanks for the heads up mate. I thought it would start as off today.

Anyway, yeah, we might see a little dump today then. But after we should be getting back on track.
Can anyone from the dev team confirm vesting started in November?

Offline islandking

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Re: Anouncement Concerning BTS Vesting
« Reply #12 on: January 20, 2015, 02:11:48 PM »
Because the vesting period started in November and they are just being unlocked now.

Well let's see...I believe the vesting period began on 11/5/14, right? Two and a half months. And the vesting is for a period of 2 years...which means approx. 52,083,333 of the 500,000,000 new BTS will be unlocked at once.

Thanks for the heads up mate. I thought it would start as off today.

Anyway, yeah, we might see a little dump today then. But after we should be getting back on track.
Can anyone from the dev team confirm vesting started in November?

No problem. I am personally just sitting on bitCNY and bitUSD right now. There is way to much uncertainty in general. Bitcoin looks like it is struggling to stay afloat.
I've been working on a new electronic cash system that's fully peer-to-peer, with no trusted third party. - Satoshi

Offline mudshark79

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Re: Anouncement Concerning BTS Vesting
« Reply #13 on: January 20, 2015, 02:17:00 PM »
I thougth there is an incentive to not unvest Balances as soon as possible in a way that you get less BTS per PTS/AGS/Whatever the earlier you unvest? I remember this metric evenly increasing so unvesting after 2 months of 48 would leave with less than 5%(?) of the possible maximum number of vested balance which should make it highly unlikely that we see a big dump now. (and more likely that we get a lot of dissappointed comments and scam accusations once again  :-X).

However this is only my educated guess and what I remember, I would also look forward to some clearing up from smbdy with real insigth.... should have been in some newsletter too?


Regards

Offline islandking

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Re: Anouncement Concerning BTS Vesting
« Reply #14 on: January 20, 2015, 02:23:00 PM »
I thougth there is an incentive to not unvest Balances as soon as possible in a way that you get less BTS per PTS/AGS/Whatever the earlier you unvest? I remember this metric evenly increasing so unvesting after 2 months of 48 would leave with less than 5%(?) of the possible maximum number of vested balance which should make it highly unlikely that we see a big dump now. (and more likely that we get a lot of dissappointed comments and scam accusations once again  :-X).

However this is only my educated guess and what I remember, I would also look forward to some clearing up from smbdy with real insigth.... should have been in some newsletter too?


Regards

Toast said yesterday that there is no penalty.
I've been working on a new electronic cash system that's fully peer-to-peer, with no trusted third party. - Satoshi

 

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