Author Topic: Announcing BitShares AGS & BitShares X Allocation  (Read 97558 times)

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Offline 520Bit

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One quick question, does it matter if I donate from a multi-address PTS/BTC wallet? Or do I have to donate from a single address PTS/BTC wallet? I experienced MMC 2.0 that single address was easy. Please advise.

It should not matter, we will have tools to import all keys from your PTS and BTC wallets.

Thanks, I have given my donation. When will the AngelShares client available? Is there a due date for the donation?

AngelShares are non-transferrable, but will turn into something transferrable when we launch BitShares in Q1 2014.   Everything received before the end of Jan 1, 2014 counts as part of the Jan 1, 2014 auction of 10000 AGS.   Currently have have 5000 AGS as you are the first PTS bidder!   After that every day is a fresh Auction.   We wanted to give people some time to digest the system before the daily auctions start that way everyone has equal opportunity.

Really, I am the first PTS bidder? I can't believe it, I just believe 3I company and the whole project. Looking forward to the good success of AGS. I would like to donate some BTCs later, does it make sense after I have donated the PTS?
Accept BTC/XCP/MSC: 152oBitoBwHwxR5UpUQnsvWSFjYHkheDJk
PTS: PtPXhrP5jk8BPH5fFcPnBgNSrfmJ6DCFcW
PPC: PRT95iQEKUzJSb2XsPjLgdbyoSyKiDmyb9

Offline bytemaster

One quick question, does it matter if I donate from a multi-address PTS/BTC wallet? Or do I have to donate from a single address PTS/BTC wallet? I experienced MMC 2.0 that single address was easy. Please advise.

It should not matter, we will have tools to import all keys from your PTS and BTC wallets.

Thanks, I have given my donation. When will the AngelShares client available? Is there a due date for the donation?

AngelShares are non-transferrable, but will turn into something transferrable when we launch BitShares in Q1 2014.   Everything received before the end of Jan 1, 2014 counts as part of the Jan 1, 2014 auction of 10000 AGS.   Currently have have 5000 AGS as you are the first PTS bidder!   After that every day is a fresh Auction.   We wanted to give people some time to digest the system before the daily auctions start that way everyone has equal opportunity.




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 bytemaster

Honoring AngelShares only applies to anyone who uses our code (paid for by the Angels) to develop their DAC.  Obviously they have very different value propositions.

1) PTS is liquid and allows you to speculate on not just Invictus but all DACs
2) AngelShares is much closer tied to Invictus and we encourage other DAC development teams to form their own funding method or perhaps simply copy the AngelShares model.
3) If you don't like how the project is going you can sell PTS... AngelShare holders are in it for the long run. 

Obviously the market will sort it all out and price them accordingly.   Note that AngelShares creates DEMAND for PTS as a means of purchasing AGS on part with BTC.
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 520Bit

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One quick question, does it matter if I donate from a multi-address PTS/BTC wallet? Or do I have to donate from a single address PTS/BTC wallet? I experienced MMC 2.0 that single address was easy. Please advise.

It should not matter, we will have tools to import all keys from your PTS and BTC wallets.

Thanks, I have given my donation. When will the AngelShares client available? Is there a due date for the donation?
Accept BTC/XCP/MSC: 152oBitoBwHwxR5UpUQnsvWSFjYHkheDJk
PTS: PtPXhrP5jk8BPH5fFcPnBgNSrfmJ6DCFcW
PPC: PRT95iQEKUzJSb2XsPjLgdbyoSyKiDmyb9

Offline ruletheworld

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phoenix raises an important point. It seems like AngelShares is a more economic way to get a piece of the BitShares pie than ProtoShares (granted ProtoShares has other advantages such as liquidity).

If every DAC released by Invictus in the future will honor both AngelShares and ProtoShares, it might prompt more people to convert from ProtoShares to AngelShares and thus cause a drop in price of ProtoShares.

Also, unlike ProtoShares, I don't see any reason why a community member not involved with Invictus would want to honor AngelShares.

Looking forward to how the market will price and value AngelShares.
PTS: PYRqARWMGQ1PeZvjJM6iWJxf2ouwYcueHF
BTC: 1NeRoAKp137GTDUEBaonbu5BUGPN17Xw5n
http://btcgeek.com

Offline bytemaster

One quick question, does it matter if I donate from a multi-address PTS/BTC wallet? Or do I have to donate from a single address PTS/BTC wallet? I experienced MMC 2.0 that single address was easy. Please advise.

It should not matter, we will have tools to import all keys from your PTS and BTC wallets.
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 520Bit

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One quick question, does it matter if I donate from a multi-address PTS/BTC wallet? Or do I have to donate from a single address PTS/BTC wallet? I experienced MMC 2.0 that single address was easy. Please advise.
Accept BTC/XCP/MSC: 152oBitoBwHwxR5UpUQnsvWSFjYHkheDJk
PTS: PtPXhrP5jk8BPH5fFcPnBgNSrfmJ6DCFcW
PPC: PRT95iQEKUzJSb2XsPjLgdbyoSyKiDmyb9

Offline majc

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Ecoinfund币基金:http://www.ecoinfund.com/  36kr首个孵化的虚拟货币交易平台。最有前途的交易平台,没有之一。

微博:http://weibo.com/ma890623

Offline phoenix

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1 million Angel Shares will be given to people who donate PTS, and there are currently about 1.19 million out of 2 million PTS mined out... I doubt everyone will give up the ability to trade their PTS, so lets say everyone gets really excited and donates, on average, half of their PTS(which I think is a very generous estimate). That means roughly 595K out of the, currently 1.19 million PTS will be donated. This is roughly 1.68 Angel Shares per PTS donated. If each Angel Share is worth the same amount of shares in future DACs as each PTS, that's an amazing deal! Plus, some days will be slower than others, so the number of Angel Shares per PTS invested could be even higher! 8)
Protoshares: Pg5EhSZEXHFjdFUzpxJbm91UtA54iUuDvt
Bitmessage: BM-NBrGi2V3BZ8REnJM7FPxUjjkQp7V5D28

Offline bytemaster

Updated on July 18, 2014
The BitShares AGS Campaign has ended.
No further donation competitions remain.

It has been an amazing success raising over 5600 BTC and 415,000 PTS to fund development of the industry.

We thank all who have participated.  Now you will immediately begin to see the results.

The following AGS information is left here for historical reference only.

We have updated the Invictus Innovations Incorporated, LTD website to document the latest plans for the funding and development of BitShares.


Anything we state in casual forum discussions may contain errors as a result of off-hand brevity so should not be considered binding or official.  Many such posts merely request industry feedback on options under consideration, most of which are never actually adopted.  This post summarizes our official position and we will keep it up to date:

We are not recommending changes to the PTS Social Consensus; about 2 Million will be mined and all developers should continue to honor them with at least 10% in future DACs.

We are introducing a general AGS Consensus recommendation that mirrors the PTS Social Consensus except that wasteful mining is replaced with productive donations in either PTS or BTC. 

We are also recommending the share allocation of the first release of BitShares X to have 4 million total shares.  2 million will be allocated proportional to PTS holders and 2 million proportional to AGS donors. Developers are of course free to change the total in their ultimate releases as long as they do so proportionally.

How to Get Recognized as a Donor via Angel Shares

AGS is just a public ledger of donors you can get on by donating to a development trust, 
to build the industry and try to get targeted by developers
who see promotional advantages in a free airdrop of their new product samples
to a demographic of people who donate to developers!

Unlike PTS, AGS do not have their own block chain and are not actually issued as any form of asset.  They exist only notionally in that anyone can compute what the conceptual distribution would be using the proposed virtual mining algorithm below.  This algorithm is intended only for use by developers wishing to identify who has donated toward developing the BitShares industry for the purpose of targeting them as a demographic with free promotional tokens in their new DAC releases

AGS Virtual Mining Algorithm
Beginning New Year’s Day 2014,
the algorithm will allocate 10,000 new AGS in a new virtual mining competition every day for 200 days.
5000 of them will be allocated to PTS donors.
5000 of them will be allocated to Bitcoin donors. 
That's ultimately 2,000,000 total shares, just like PTS.

Those who donate bitcoins to this address will notionally split 5000 AGS proportionally:

1ANGELwQwWxMmbdaSWhWLqBEtPTkWb8uDc

Those who donate PTS to this address will notionally split 5000 AGS proportionally:

PaNGELmZgzRQCKeEKM6ifgTqNkC4ceiAWw

Every day the virtual shares are notionally divided among those who donated that day.

Be vigilant! Watch for a slow day when your donation will map to a larger overall percentage of that day's allotment.

Don't send donations from anywhere but your own wallet!

DAC developers need the address in a wallet you control to initialize their genesis blocks to honor the key where your donation came from!  If you send from an exchange, that exchange will have the keys to get any promotional shares intended for you!

"What happens to all the donations?"

100% of the proceeds go to growing the crypto-equity industry.
Zero percent will be retained as profits by Invictus.

Funds will be used to encourage new developers with salaries, grants, contracts, and bounties to build everything from small components to entire new DACs.  They will be used provide a free high-quality Developer's Toolkit giving DAC developers a huge head start.  They will be used for advertisements, conferences, promotions and give-aways to stimulate interest in the new industry and to provide opportunities for everyone to contribute.  They will be used for legal advocacy for the ecosystem in many jurisdictions.  Anything is fair game that we believe will grow the value of PTS and all DACs that honor the contributions of PTS and AGS holders. 

That said, these are pure donations for which your only expectation must be
that we will use our best judgement to apply them toward these purposes.

It is beyond our control to prevent an unethical developer from forking our open source code in a way that fails to recognize your donations.  It is up to the market to reject this, or not.  If you do not like our recommended allocation, do not trust the market to reject copycats, or do not trust us to use your donations wisely, then please take your money, fund competition, and build your own DACs that fit your preferred allocation strategy. 

Merry Christmas Keyhotee Founders!!
The first 10,000 AGS are recommended to be set-aside proportionally for Keyhotee Founders. 
Invictus Innovations shareholders are not eligible.
Donations to Keyhotee after Dec 24, 2013 at Midnight GMT don't count.
Jan 1st, 2014 shall include all transactions sent to the Angel addresses in 2013.

Invictus Innovations will not send money from the Angel Address back to the Angel Address as this would completely undermine the entire value proposition.  If we pay bounties, sell PTS or BTC to pay salaries for services then we have no way to prevent those individuals from deciding to reinvest back into the fund.  From a block chain perspective it will be very hard to audit this behavior without us freezing the funds.   We will be as transparent as possible about where we spend the funds and this should make it clear that we are not recirculating funds.  In this business trust is everything so we will protect our integrity in this area because without it we are sunk.


Remember - your donations are recorded in a public block chain which developers may or may not use to target 10% or more of their shares as a promotion to gain your support for their projects.  It is their choice - we merely define the public ledger documenting your contributions and a recommended formula for computing a fair share proportional to everyone's contribution.  Our free open source genesis-block initialization software will implement the recommended formula, but we cannot prevent any developer from modifying or replacing this software with their own algorithms or none at all.

Why would a developer want to recognize your donations?
https://bitsharestalk.org/index.php?topic=3980.msg50093#msg50093

Learn more about targeted share give-aways in our blog article on BitShares Sharedrop Theory here
http://bitshares.org/bitshares-airdrop-theory/

The BitShares Trust was formed for the benefit of the industry by
Invictus Innovations Incorporated Limited of Hong Kong
http://bitshares.org/wp-content/uploads/2014/07/BitShares-Trust-Published%20July-18-2014.pdf.
« Last Edit: July 21, 2014, 05:13:55 pm by Stan »
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.