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sumantso

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Heads Up: AGS MAY give you 3.33 BTSX
« on: January 29, 2014, 06:50:57 PM »

As you may be aware, the test snapshot for BTSX will be taken on 28th February. Initially I assumed since its just a test, the actual one may come some time later. However, Byetmaster mentions this

Yes, we are preparing a mass mailing on this topic.  If BitShares X Test is successful we will simply drop the Test from the name, if it fails in some manner that is unrecoverable then a new snapshot will be used.   Thus the value of the BTS (and BitUSD etc) in the test chain must factor in probability of catastrophic failure and reset of the chain.  It should go up over time as the likelihood of failure decreases. 

This process of launching test networks that "might be final release" networks will continue until all bugs are found.  This is necessary because for a test network to function it must have a non-0 value otherwise bitasset evaluation results in divide by 0 errors.   

Note that having many parallel chains was always in the plan and a version 2 chain with variable interest rates set by market forces will come out later as well.  So some bugs that result in the launch of a new chain may not mean the complete death of the initial test chain.  If the initial test chain has any residual value or can be 'patched' then it might take on a life of its own.

So, if that test DOES become a success (and I guess there is a big chance it will be not) then you will get more than 3.3 BTSx/AGS. Thats an insanely profitable deal.

I know whether to invest in AGS or hold PTS is a long running argument and with the further uncertainity that the test may become the real chain its even more confusing. So all I can say is spend a couple of hours reading through this sub board (or just go through my post history) and make up your own mind.

In short:

On 28th Feb keep your PTS in your wallet
Hold onto the PTS and BTC wallets you used for AGS donation (if any) - don't send from an online wallet where you can't get the private key.

2 million BTSX will be divided among the PTS in existence (should be around 1.5m) which means almost 1.3 BTSX/PTS
2 million BTSX will be divided among AGS awarded (would be 3.3 BTSX/AGS for 28th chain and lesser as time goes on)
Both PTS and AGS will give you atleast 10% in all future I3 DACs or DACs using I3 code.
PTS are traded, while AGS can't.

Happy strateging!

EDIT: Updated PTS figures with info from ripplexiaoshan.
« Last Edit: January 29, 2014, 08:07:35 PM by sumantso »

Offline ripplexiaoshan

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Re: Heads Up: AGS MAY give you 3.33 BTSX
« Reply #1 on: January 29, 2014, 07:56:58 PM »
Sounds great, just one small correction, by 28th Feb, around 1.5M PTS will be mined, not 1.2M. So far, 1.396M has been mined. 

I am curious what the initial value of BTS will be? It's tradable, so compared with pts, its price will be higher or lower?
« Last Edit: January 29, 2014, 11:46:18 PM by ripplexiaoshan »
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sumantso

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Re: Heads Up: AGS MAY give you 3.33 BTSX
« Reply #2 on: January 29, 2014, 08:03:55 PM »
Sounds great, just one small correction, by 28th Feb, around 1.5M PTS will be mined, not 1.2M. So far, 1.396M has been mined. 

I am curious what's the initial value of BTS will be? It's tradeable, so compared with pts, it's price will be higher or lower?

Cheers. Updated my post. As a primary PTS holder, I guess I have to brace myself for the PTS price dropping in the near future.

Since each PTS gives you more than 1 BTSX; I assume initially it will be lower. Besides, there is also the supply question - BTSX will have 4 million coins in existence right off the bat; while PTS is almost a third.

Initially, since its just 'test' shares I doubt it will have much value anyways. More interesting is the scenario where the BTSX works as promised (either the first test or a latter chain). There is a sea of difference between a promised product (as is the situation now) and having one that actually works - will probably send the price skyrocketing.

Offline Pocket Sand

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Re: Heads Up: AGS MAY give you 3.33 BTSX
« Reply #3 on: January 29, 2014, 11:05:01 PM »
When the Final bts build is released, will the current AGS and PTS be converted by ratio in to the 4 million bts?

Offline ripplexiaoshan

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Re: Heads Up: AGS MAY give you 3.33 BTSX
« Reply #4 on: January 29, 2014, 11:48:03 PM »
When the Final bts build is released, will the current AGS and PTS be converted by ratio in to the 4 million bts?

I think so.
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Offline Stan

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Re: Heads Up: AGS MAY give you 3.33 BTSX
« Reply #5 on: January 30, 2014, 02:18:35 AM »
When the Final bts build is released, will the current AGS and PTS be converted by ratio in to the 4 million bts?

I think so.

A few modest points:

  • There could eventually be as many BTS chains as there are banks and exchanges in the world today.  So we shouldn't talk about a "final" chain.
  • Each of these chains is free to compete by changing parameters like the 4 million total shares.  That only applies (for sure) to the first BitShares X DAC.
  • If BitShares XT works perfectly the first time, it will keep running and be the "final" version of the "first" BitShares X chain.  Thus all that matters is how many AGS and PTS there are when any new chain is initialized.
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 Troglodactyl

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Re: Heads Up: AGS MAY give you 3.33 BTSX
« Reply #6 on: February 01, 2014, 11:07:24 PM »
Any DAC stake held by the AngelShares PTS address will be claimed for use in bounties the same as directly donated BTC and PTS, correct?

Offline bytemaster

Re: Heads Up: AGS MAY give you 3.33 BTSX
« Reply #7 on: February 01, 2014, 11:53:47 PM »
Any DAC stake held by the AngelShares PTS address will be claimed for use in bounties the same as directly donated BTC and PTS, correct?

Yes, all funds raised directly or indirectly from the AGS addresses will be put toward the development of DACs.
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 MrJeans

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Re: Heads Up: AGS MAY give you 3.33 BTSX
« Reply #8 on: February 02, 2014, 10:50:50 AM »
Any DAC stake held by the AngelShares PTS address will be claimed for use in bounties the same as directly donated BTC and PTS, correct?

Yes, all funds raised directly or indirectly from the AGS addresses will be put toward the development of DACs.
Give a man a fish and feed him for a day, give a man an angel share...  ;)

Offline HCarvalho

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Re: Heads Up: AGS MAY give you 3.33 BTSX
« Reply #9 on: February 10, 2014, 12:40:44 PM »
I have 66 PTS, so I just need to have my PTS wallet active on February 28th?

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Re: Heads Up: AGS MAY give you 3.33 BTSX
« Reply #10 on: February 10, 2014, 01:00:23 PM »
I have 66 PTS, so I just need to have my PTS wallet active on February 28th?
You'll need the private key of the address(es) which hold your pts
Give BitShares a try! Use the http://testnet.bitshares.eu provided by http://bitshares.eu powered by ChainSquad GmbH

Offline HCarvalho

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Re: Heads Up: AGS MAY give you 3.33 BTSX
« Reply #11 on: February 10, 2014, 02:08:40 PM »
then what?

Offline bytemaster

Re: Heads Up: AGS MAY give you 3.33 BTSX
« Reply #12 on: February 10, 2014, 02:42:38 PM »
then what?

Then when you download BitShares X and open your wallet you will get your starting balance.
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 sfinder

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Re: Heads Up: AGS MAY give you 3.33 BTSX
« Reply #13 on: February 10, 2014, 07:24:12 PM »
will angel-share donation still be on until reach 200 days  ? if 02/28's btsx snapshot is successful then future donation to AGS will not be able to get BTS ,right ?


then what?

Then when you download BitShares X and open your wallet you will get your starting balance.
微博:星在飘我在找|BTS X 受托人delegate ID:baidu
中国教育书店合作将20%收入捐献给贫困山区学生。
Cooperating with China Education Bookstore and will donate 20% of delegate income to the poor students

Offline mint chocolate chip

Re: Heads Up: AGS MAY give you 3.33 BTSX
« Reply #14 on: February 10, 2014, 07:31:36 PM »
will angel-share donation still be on until reach 200 days  ? if 02/28's btsx snapshot is successful then future donation to AGS will not be able to get BTS ,right ?


then what?

Then when you download BitShares X and open your wallet you will get your starting balance.

What happens on February 28th is only relevant to the first chain of Bitshares; all other Bitshares chains will be released in the future after February 28th. Invictus DAC's will be distributed to PTS holders and those who donate to AGS if the donation comes in before each one is released. So if you donate after February 28 you will be still in line to benefit from all the other chains and DAC's that are upcoming.
« Last Edit: February 10, 2014, 07:33:22 PM by currencydebt »

 

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