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Tuck Fheman

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So I just bought a ProtoShare (PTS) ... now what?
« on: February 20, 2014, 04:35:36 AM »

What can I do?
What should I do?
How do I do it?

All I know (I think) is I just bought 1 share in a bunch of DAC's.  Is that correct?

Do I just leave the PTS in my wallet and magick happens later?

I saw a website a while back where people with PTS were supposed to enter their address or key to get a share(?). What's that all about?

Any help would be much appreciated as I'd like to get more PTS, but I'm just not exactly sure what it is I'm getting into (as you can tell) and I want a better understanding so I can relay this information to others who (like myself) have no clue what this is all about.

Yes I've read the forum and I've visited the websites ... and to be honest I'm even more confused about what I'm into. ;)
« Last Edit: February 20, 2014, 04:43:19 AM by Tuck Fheman »

Offline bytemaster

Re: So I just bought a ProtoShare (PTS) ... now what?
« Reply #1 on: February 20, 2014, 04:39:59 AM »
Hold your shares in your local wallet.   When a new DAC comes out download it and import your PTS wallet to get your shares in that DAC.
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.

Tuck Fheman

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Re: So I just bought a ProtoShare (PTS) ... now what?
« Reply #2 on: February 20, 2014, 04:44:52 AM »
Hold your shares in your local wallet.   When a new DAC comes out download it and import your PTS wallet to get your shares in that DAC.

Ok thank you! Is there a guide that shows how I download a DAC when it comes out?

Offline Markus

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Re: So I just bought a ProtoShare (PTS) ... now what?
« Reply #3 on: February 20, 2014, 04:47:54 AM »
You can send it to me.
Pe6KqWyJG4biVgi3EhMuubvSksUcWja2LN

Thx

Offline thisisausername

Re: So I just bought a ProtoShare (PTS) ... now what?
« Reply #4 on: February 20, 2014, 04:50:39 AM »
Hold your shares in your local wallet.   When a new DAC comes out download it and import your PTS wallet to get your shares in that DAC.

Ok thank you! Is there a guide that shows how I download a DAC when it comes out?

This will likely differ for each DAC.

The first DAC coming out is BitShares XT and it'll be out in early March, from the sound of things.
Pjo39s6hfpWexsZ6gEBC9iwH9HTAgiEXTG

Offline bytemaster

Re: So I just bought a ProtoShare (PTS) ... now what?
« Reply #5 on: February 20, 2014, 05:39:26 AM »
Hold your shares in your local wallet.   When a new DAC comes out download it and import your PTS wallet to get your shares in that DAC.

Ok thank you! Is there a guide that shows how I download a DAC when it comes out?

This will likely differ for each DAC.

The first DAC coming out is BitShares XT and it'll be out in early March, from the sound of things.

We are aiming for as early as possible based upon results of testing.   Due to the Texas conference in early March where our whole team will be traveling, we are aiming for an Ides of March release date that is symbolic and fitting considering the November 5th launch date of PTS.   

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.

Tuck Fheman

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Re: So I just bought a ProtoShare (PTS) ... now what?
« Reply #6 on: February 20, 2014, 09:58:55 AM »
Well, I don't fully understand how it all works just yet, but I heard your interview on Let's Talk Bitcoin recently and it was inspiring to say the least.

So, I'm in ...  I bought some more bitshares-PTS!

Et tu, bitshares?


Offline CLains

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Re: So I just bought a ProtoShare (PTS) ... now what?
« Reply #7 on: February 20, 2014, 01:36:11 PM »
As long as you have your PTS in a private wallet by 28th Feb. you can figure out the rest later. When BTS is released around The Ides of March (15th) there will be guides to help you claim them. :)
Vote for BTS-2 witness: spectral (1.6.30)

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Offline unsoindovo

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Re: So I just bought a ProtoShare (PTS) ... now what?
« Reply #8 on: February 20, 2014, 01:54:39 PM »
You can send it to me.
Pe6KqWyJG4biVgi3EhMuubvSksUcWja2LN

Thx

 ;) :D ;D >:( :( >:( ;D :-[ :-* :-* :-X :-X ??? :( ;) ;) ;D :( ??? ???

Offline morecpmplz

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Re: So I just bought a ProtoShare (PTS) ... now what?
« Reply #9 on: February 20, 2014, 05:57:05 PM »
As long as you have your PTS in a private wallet by 28th Feb. you can figure out the rest later. When BTS is released around The Ides of March (15th) there will be guides to help you claim them. :)

Apologies as I'm a bit confused... Do we have to continue to hold PTS till March 15 in order to be eligible for BTSX?

Offline graffenwalder

Re: So I just bought a ProtoShare (PTS) ... now what?
« Reply #10 on: February 20, 2014, 06:28:14 PM »
As long as you have your PTS in a private wallet by 28th Feb. you can figure out the rest later. When BTS is released around The Ides of March (15th) there will be guides to help you claim them. :)

Apologies as I'm a bit confused... Do we have to continue to hold PTS till March 15 in order to be eligible for BTSX?
No till March 1st, just be sure to download the PTS wallet, and keep it there

Offline bytemaster

Re: So I just bought a ProtoShare (PTS) ... now what?
« Reply #11 on: February 21, 2014, 07:27:31 PM »
Just remember that BTS X is just one of MANY ideas that we will be rolling out so buying now and selling after March 1 is like buying high and selling low...

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.

Tuck Fheman

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Re: So I just bought a ProtoShare (PTS) ... now what?
« Reply #12 on: February 22, 2014, 01:51:12 AM »
Just remember that BTS X is just one of MANY ideas that we will be rolling out so buying now and selling after March 1 is like buying high and selling low...

 +5%

Tuck Fheman

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Re: So I just bought a ProtoShare (PTS) ... now what?
« Reply #13 on: February 23, 2014, 03:51:43 AM »
Just remember that BTS X is just one of MANY ideas that we will be rolling out so buying now and selling after March 1 is like buying high and selling low...

I have a question about this article recently posted on LTB ... http://letstalkbitcoin.com/caution-watch-for-falling-pts/

Quote
Since that announcement, the price of PTS has doubled; however, this rapid increase prior to the snapshot will likely be followed by a corresponding selloff after the snapshot as PTS will no longer be good for a cut in future BitShares X chains.  Holders of BitShares will assume that privilege.

The above quote, combined with the quote below appear contradictory to one another due to my lack of understanding. Could someone please ELI5?

Quote
Although PTS prices often get quoted with the prices of altcoins, a PTS is a claim on future BitShares of numerous DACs planned by Invictus Innovations, rather than an empty token backed by speculation alone. When calculating the performance of your PTS investment, you have to include the value of all the spun-off DACs that you now also own.

Here's what I get so far ... If I hold 1 PTS when bitshares-PTS rolls out, my 1 PTS will get me ~1.33 BTS. The ~1.33 BTS are shares in bitshares-x the first DAC.

What happens to the 1 PTS? At this point I'm assuming, nothing "happens" to it. I will still have 1 PTS + 1.33 BTS.

Is this same 1 PTS "re-usable" to obtain another ~1.33 BTS in each DAC that rolls out in the future as well or have I "used up" that 1 PTS?


If I transfer/sell a PTS after I have obtained BTS for the PTS, do I still retain the BTS I obtained for that PTS? I'm assuming I do, since these are separate entities.


Thanks!




Offline onceuponatime

Re: So I just bought a ProtoShare (PTS) ... now what?
« Reply #14 on: February 23, 2014, 04:14:27 AM »
Just remember that BTS X is just one of MANY ideas that we will be rolling out so buying now and selling after March 1 is like buying high and selling low...

I have a question about this article recently posted on LTB ... http://letstalkbitcoin.com/caution-watch-for-falling-pts/

Quote
Since that announcement, the price of PTS has doubled; however, this rapid increase prior to the snapshot will likely be followed by a corresponding selloff after the snapshot as PTS will no longer be good for a cut in future BitShares X chains.  Holders of BitShares will assume that privilege.

The above quote, combined with the quote below appear contradictory to one another due to my lack of understanding. Could someone please ELI5?

Quote
Although PTS prices often get quoted with the prices of altcoins, a PTS is a claim on future BitShares of numerous DACs planned by Invictus Innovations, rather than an empty token backed by speculation alone. When calculating the performance of your PTS investment, you have to include the value of all the spun-off DACs that you now also own.

Here's what I get so far ... If I hold 1 PTS when bitshares-PTS rolls out, my 1 PTS will get me ~1.33 BTS. The ~1.33 BTS are shares in bitshares-x the first DAC.

What happens to the 1 PTS? At this point I'm assuming, nothing "happens" to it. I will still have 1 PTS + 1.33 BTS.

Is this same 1 PTS "re-usable" to obtain another ~1.33 BTS in each DAC that rolls out in the future as well or have I "used up" that 1 PTS?


If I transfer/sell a PTS after I have obtained BTS for the PTS, do I still retain the BTS I obtained for that PTS? I'm assuming I do, since these are separate entities.


Thanks!

Nothing happens to the 1 PTS. You now have that plus approx. 1.33 BTS

The 1 PTS is still "usable" to get you shares in future releases of DACS, but not at 1.33 rate. At least ten percent of shares of future DACS that honor the Social Contract will be distributed to PTS holders, and you will STILL have your 1 PTS. and so on, and so on.

If you sell your 1 PTS after Feb 28, you still retain the 1.33 BTS you receive. You just won't have a share in future DAC releases (such as Bingo DAC, Domain DAC etc). You will, however, get shares in future iterations of the BitsharesX DAC from the 1.3 BTS if you hold on to that.

 

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