Is there a guide on how this works? How does one completely new to this concept donate and get invested in bitshares?
Thank you! I have searched the forum and am overwhelmed with the information. Hoping that there is a one page infographic that explains it somewhere.
I guess I am confused:
Here it states "In the case of BitShares X Invictus has chosen to allocate 50% to PTS holders in the genesis block."
Has the genesis block for BitShares X already happened, or is it something that is about to happen?
It is not clear on the website.
I guess others will come here with easier answers, but I will say what I can.
For starters, BitsharesX genesis block has NOT been created yet. Its still some time away - maybe 6-10 weeks.
You send BTS or PTS from your own wallet (so that you hold the private keys) to specific addresses as donation. Your (donation for the day)/total donation*5000 will be the number of AGS you get. So, its kind of like a lottery - you get good and bad days. You can see the historical donations and donation addresses here http://www1.agsexplorer.com/
When the genesis block is created, 2 million BitsharesX will be distributed among all the PTS in existence, so will probably net you some 1.3-1.4 BitsharesX/PTS. Remember, you will have to keep PTS in your wallet (there will be enough advance warning).
Also, the remaining 2 million BitsharesX will be divided among all the AGS distributed till date. Depending on when the genesis block is created you may end up getting 2.3-3 BitsharesX/PTS (will be a lot lesser if BitsharesX is delayed). You need to hold the PTS and/or BTS wallet you used for the donation and the BitsharesX client will do the rest.
Remember, all the future I3 DACs will also honour PTS and AGS by allotting atleast 10% to each. However, Bytemaster says that if not much work is needed to release the rest, they will most likely remain 50/50.
You may look up my comparison of PTS/AGS here https://bitsharestalk.org/index.php?topic=2444.msg30057#msg30057
Also, unfinished infographic https://bitsharestalk.org/index.php?topic=2054.msg24712#msg24712
Official announcement https://bitsharestalk.org/index.php?topic=1863.0 http://invictus.io/bitshares-ags.php