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Offline zampsa_p

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Confused...
« on: February 08, 2014, 02:01:16 AM »

I tried to find information about protoshares (PTS) and Bitshares (BTS? or PTS?).

1. Is bitshares a cryptocurrency like protoshares that you change trade in the exchanges or something else. If its a kind of cryptocurrency whats the point of protoshares anymore?

2. Is bitshares allready launched?

3. It reads somewehere that if you have protoshares PTS when Bitshares is launched you get these Bitshares. How does this work. Does protoshares PTS change into Bitshares (are they basically the same thing but the name is changing and you get your share of bitshares by how many potoshares you have or something).

4. Or do you get the bitshares and still keep the protoshares. And if this is the case how will you claim your bitshares.

Basically im wondering what is the relation between protoshares and bitshares.

And i understand you can use these bitshares to "buy" for example bitBTC? Does this mean that i need to exchange the bitshares to bitBTC somehow or how does this actually work. I understand the altcoin trading simply that you buy for example dogecoin with bitcoin when its like 0,01BTC and sell when its 0,02 and you double your bitcoin investment that way, but i cant really understand this consept at all, even after reading some forum posts and invictus site info.

Could somebody explain these in simple layman terms. I bet quite few understand the whole consept and there are many other altcoins to invest in that are way easier to understand.... If you want the price of protoshares to go up people need to understand the consept better and it needs to relatively easy. People are impatient and when there are plenty of alternatives its much more fun to invest in for example Dogecoin because of the funny dog face and lots of hype than in Protoshares with innovations that needs too much time to get into and understand even the basics...

Well im thinking of buying Protoshares PTS from an exchange but im confused about this bitshares thing. Does it replace protoshares or is it protoshares new name, or is it a whole new cryptocurrency and if so whats the point of protoshares any more after that.

Well thanks for the info, even if these questions might seem a bit stupid for the people who understand the consept...

Offline ripplexiaoshan

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Re: Confused...
« Reply #1 on: February 08, 2014, 02:34:53 AM »
Good questions, you just need to check this FAQ out, then you will find all the answers
https://bitsharestalk.org/index.php?topic=1964.0
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Offline santaclause102

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Re: Confused...
« Reply #2 on: February 08, 2014, 12:49:35 PM »

I tried to find information about protoshares (PTS) and Bitshares (BTS? or PTS?).

1. Is bitshares a cryptocurrency like protoshares that you change trade in the exchanges or something else. If its a kind of cryptocurrency whats the point of protoshares anymore?
> Bitshares is the actual product. PTS gives you a stake in Bitshares after its release. PTS is a plain copy if bitcoin with some miner changes to the hashing algo. The whole goal of PTS is to distribute BTS in a fair way (not to many people have too much).

2. Is bitshares allready launched?
>No. It is planed to be launched 02/28.

3. It reads somewehere that if you have protoshares PTS when Bitshares is launched you get these Bitshares. How does this work. Does protoshares PTS change into Bitshares (are they basically the same thing but the name is changing and you get your share of bitshares by how many potoshares you have or something).
>No. You will have to claim your BTS with your PTS private keys. Make sure you have your PTS in a local wallet at launch date so you have access to your private keys...

4. Or do you get the bitshares and still keep the protoshares. And if this is the case how will you claim your bitshares.
>You get the BTS and still have the PTS. There will be a instruction for how to claim bts.

Basically im wondering what is the relation between protoshares and bitshares.
> see above :)

And i understand you can use these bitshares to "buy" for example bitBTC? Does this mean that i need to exchange the bitshares to bitBTC somehow or how does this actually work. I understand the altcoin trading simply that you buy for example dogecoin with bitcoin when its like 0,01BTC and sell when its 0,02 and you double your bitcoin investment that way, but i cant really understand this consept at all, even after reading some forum posts and invictus site info.
> You dont need to buy BitBTC! But you can do that if you want to either have your USD in digital form or if you bet that USD value increases compared to BTS value. Read more here https://bitsharestalk.org/index.php?topic=889.0 
This is another guide worth reading http://btcgeek.com/bitshares-guide/

Could somebody explain these in simple layman terms. I bet quite few understand the whole consept and there are many other altcoins to invest in that are way easier to understand.... If you want the price of protoshares to go up people need to understand the consept better and it needs to relatively easy. People are impatient and when there are plenty of alternatives its much more fun to invest in for example Dogecoin because of the funny dog face and lots of hype than in Protoshares with innovations that needs too much time to get into and understand even the basics...

Well im thinking of buying Protoshares PTS from an exchange but im confused about this bitshares thing. Does it replace protoshares or is it protoshares new name, or is it a whole new cryptocurrency and if so whats the point of protoshares any more after that.

Well thanks for the info, even if these questions might seem a bit stupid for the people who understand the consept...

> Look up the term value investing. You will see that it makes a lot more sense long term to do A LOT of research.

Offline Centaurus

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Re: Confused...
« Reply #3 on: February 19, 2014, 09:33:37 PM »
Please, I am confused too:

2. Is bitshares allready launched?
>No. It is planed to be launched 02/28.
What about "BitShares PTS"?
Will ProtoShares remain existing after 02/28?

Thanks

Offline thisisausername

Re: Confused...
« Reply #4 on: February 19, 2014, 09:36:36 PM »
Please, I am confused too:

2. Is bitshares allready launched?
>No. It is planed to be launched 02/28.
What about "BitShares PTS"?
Will ProtoShares remain existing after 02/28?

Thanks

BitShares PTS and ProtoShares refer to the same thing.  ProtoShares was recently renamed to BitShares PTS.
Pjo39s6hfpWexsZ6gEBC9iwH9HTAgiEXTG

Offline Centaurus

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Re: Confused...
« Reply #5 on: February 19, 2014, 10:19:55 PM »
Please, I am confused too:

2. Is bitshares allready launched?
>No. It is planed to be launched 02/28.
What about "BitShares PTS"?
Will ProtoShares remain existing after 02/28?

Thanks

BitShares PTS and ProtoShares refer to the same thing.  ProtoShares was recently renamed to BitShares PTS.
Thanks

If I understand, after 02/28 I will get BTS and remains with my PTS; rigth?
After 02/28, will I still can mining PTS?

Offline Stan

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Re: Confused...
« Reply #6 on: February 19, 2014, 10:33:27 PM »
Please, I am confused too:

2. Is bitshares allready launched?
>No. It is planed to be launched 02/28.
What about "BitShares PTS"?
Will ProtoShares remain existing after 02/28?

Thanks

BitShares PTS is the main engine we plan to use to build the industry forever.  It is what makes DAC development possible.

It is like a "DAC Capacitor" that charges up, spits out a new DAC, resets and then starts charging up market value for the next one.
It is where the market stores all the pent-up demand for the next DAC on the horizon until it is born in a blinding flash of light. 

The first blinding flash of light is February 28th.

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 CLains

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Re: Confused...
« Reply #7 on: February 21, 2014, 01:55:38 PM »
\o/
Vote for BTS-2 witness: spectral (1.6.30)

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