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Offline Giga

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Does holding PTS Auto Entitle me to Angel Shares ?
« on: January 03, 2014, 10:25:24 PM »

Hi,

I'm new to Bitshares, i love the idea and i think digital assets are the way of the future.

I'm also a little bit confused about how everything works, i've learnt a lot so far but have some way to go.

I plan to purchase some ProtoShares, now if i buy them am i automatically going to be allocated ANgelShares ? or do i need to donate some protoshares to get angelshares ?
« Last Edit: January 18, 2014, 04:10:58 PM by Stan »

Offline mint chocolate chip

Re: Does holding Protoshares Auto Entitle me to Angel Shares ?
« Reply #1 on: January 03, 2014, 10:34:53 PM »
Angelshares are only given out to those who donate

Offline 5chdn

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Re: Does holding Protoshares Auto Entitle me to Angel Shares ?
« Reply #2 on: January 03, 2014, 10:35:45 PM »
I plan to purchase some ProtoShares, now if i buy them am i automatically going to be allocated ANgelShares ? or do i need to donate some protoshares to get angelshares ?

Yes you need to donate Bitcoin or Protoshares to get Angelshares. If you are after Bitshares its a good deal.

Offline Stan

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Re: Does holding Protoshares Auto Entitle me to Angel Shares ?
« Reply #3 on: January 03, 2014, 10:39:57 PM »
I plan to purchase some ProtoShares, now if i buy them am i automatically going to be allocated ANgelShares ? or do i need to donate some protoshares to get angelshares ?

Yes you need to donate Bitcoin or Protoshares to get Angelshares. If you are after Bitshares its a good deal.

Or you can donate the bitcoins directly.  There are two pools of 5000 up for grabs every day.  One for BTC and one for PTS. Pick the one with the lowest donations that day to get the biggest percent of the pot.
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 Giga

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Re: Does holding Protoshares Auto Entitle me to Angel Shares ?
« Reply #4 on: January 13, 2014, 11:29:31 AM »
I plan to purchase some ProtoShares, now if i buy them am i automatically going to be allocated ANgelShares ? or do i need to donate some protoshares to get angelshares ?

Yes you need to donate Bitcoin or Protoshares to get Angelshares. If you are after Bitshares its a good deal.

Or you can donate the bitcoins directly.  There are two pools of 5000 up for grabs every day.  One for BTC and one for PTS. Pick the one with the lowest donations that day to get the biggest percent of the pot.

Donated some BTC for AngelShares yesterday, was a good deal until the last 30 minutes the price surged upwards :P . I'm gonna keep buying in the coming weeks hunting for better deals :-)

sumantso

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Re: Does holding PTS Auto Entitle me to Angel Shares ?
« Reply #5 on: January 22, 2014, 12:22:12 PM »
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
« Last Edit: January 22, 2014, 12:34:32 PM by sumantso »

sumantso

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Re: Does holding PTS Auto Entitle me to Angel Shares ?
« Reply #6 on: January 22, 2014, 12:51:41 PM »
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

Thank you for the detailed information! I suppose this would make a good sticky note.

What I am nervous about is how does the conversion take place, given that we do not yet have a wallet software and address generator.
I worry that if this is not done right, I may end up wasting my investment. e.g. if I hold PTS on a certain date in a exchange site (BTER/Cryptsy) will they be the one that benefit instead of me?

if I send BTC or PTS to the daily pool - will the sending address be used for the genesis?

Also - how will the PTS public/private keys convert to BTS?

Thanks again for all the useful info!

Thanks; but to sticky it I guess you would need some refinement.

PTS -> BitsharesX A snapshot of the balances in all addresses will be taken at a particular block and that will be used. So, when that PTS block is mined you should have the PTS in your wallet. The block and expected date will be announced well in advance, and you can also sign up for some mailing list (you will get a mail on the address you used for this forum anyways).

Yes, Cryptsy/BTER will benefit. You may ask them to credit you but fat chance of that happening. Just withdraw your PTS when you get the announcement.

AGS -> BitsharesX Yes, your donation addresses are credited.
 The BitsharesX client will look up your PTS and BTC wallets and credit you the BitsharesX. Basically as long as you keep hold of the donation private keys you are fine.

So, in short:

1> When announced, keep your PTS in your wallet for the particular block and hold the private key.
2> Keep hold of the donated BTC/PTS wallet/private key.

Also, you may want to look up this before investing in AGS. Remember to donate at least 40 minutes before deadline https://bitsharestalk.org/index.php?topic=2321.0

sumantso

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Re: Does holding PTS Auto Entitle me to Angel Shares ?
« Reply #7 on: January 22, 2014, 01:10:49 PM »
Thank you!

Is there any site that shows time left until the daily deadline? Is it using UTC?

Yes, GMT.

http://angelshares.info/beta/ shows the time left; but this site has been known to be buggy in the past.
Just google GMT time and you should be good.

 

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