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Offline Gekko

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Exchange all BTC for PTS - what would you do?
« on: December 19, 2013, 07:34:10 AM »

I thought about exchanging all my BTC to PTS. Mainly because I thought PTS would return much more in the long run.

I still think that would make sense if 1 PTS = 1 Share in every new DAC.
But, unfortunately - as seen with MemoryCoin2 - it seems like it's possible for the new DAC to define the conversion rate, for example: 10 PTS = 1 MC.

So if every new DAC just defines 1 PTS = 0.00000001 "NewDAC" ... the PTS would probably be almost worthless.

I think some kind of "social contract" should define that 1 PTS must always be 1 (full) unit in a new DAC.

Am I getting something wrong?



Offline xeroc

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Re: Exchange all BTC for PTS - what would you do?
« Reply #1 on: December 19, 2013, 07:54:50 AM »
I think some kind of "social contract" should define that 1 PTS must always be 1 (full) unit in a new DAC.

So lets create a coin with conversion 1:1 and say the block reward is 1k ... what you investment worth then?
I'd day the developers should choose the rate (carefully)
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Offline Gekko

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Re: Exchange all BTC for PTS - what would you do?
« Reply #2 on: December 19, 2013, 10:39:30 AM »
I'd day the developers should choose the rate (carefully)

I'd say there should (could) be rules for it.
Then again, if the conversion rate of a new DAC would be too bad from the beginning maybe few PTS holders would "invest" in it.
But... then again... I somebody creates a DAC that depends on support of the PTS holders... it doesn't sound like a good idea to even create it.
Meaning: every new DAC-creator could just ignore the PTS holders. If his idea is good enough he will get enough investments from other sources.

Offline Stan

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Re: Exchange all BTC for PTS - what would you do?
« Reply #3 on: December 19, 2013, 04:43:09 PM »
I thought about exchanging all my BTC to PTS. Mainly because I thought PTS would return much more in the long run.

I still think that would make sense if 1 PTS = 1 Share in every new DAC.
But, unfortunately - as seen with MemoryCoin2 - it seems like it's possible for the new DAC to define the conversion rate, for example: 10 PTS = 1 MC.

So if every new DAC just defines 1 PTS = 0.00000001 "NewDAC" ... the PTS would probably be almost worthless.

I think some kind of "social contract" should define that 1 PTS must always be 1 (full) unit in a new DAC.

Am I getting something wrong?

It's a marketplace like anyplace else.  What do you need to pay to attract the attention and support of this community?  MemoryCoin, being the first, got all the attention it wants with just 1%.  As more and more developers start to compete for that attention I would expect the percentage to creep up.  Invictus picked 10% because we wanted PTS to be valuable and attract attention to this whole new industry.  Looks like 10% was good enough to make the top ten and that attracted a lot of attention.   Now, which new teams want to leverage that attention?  That's an individual decision.  :)
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 latitudeclear

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Re: Exchange all BTC for PTS - what would you do?
« Reply #4 on: December 23, 2013, 01:19:47 PM »
If I put 100% of my investment into a single coin would be sweating bullets all day long.

Then bitcoin or litecoin would go up to some crazy, never imagined before height while proto's went under, or vice versa - and my suicide would be so spectacular it might make front page news.

But this way if I "lose money" by spreading my investment out so that 1 outperforms the other I can just write it off to being cautious and having a balanced portfolio. Also helps justify wasting more time cruising the various forums.

Offline noobster

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Re: Exchange all BTC for PTS - what would you do?
« Reply #5 on: January 08, 2014, 10:12:51 AM »
yes, it helps if you keep your funds in more than one currency, over time you can try exchange - selling some of your profit and investing in coins with future potential
BTC: 15mey7vTkkvHm4UoZgVEP4Yo3REDpH87KW
PTS: PkzbnN7Nkv6TcqJuNjpcLfmPqpPUphpu5W
drop some =)

 

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