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Offline Hurlie

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Confusing Bitshare / Pts
« on: February 20, 2014, 06:24:55 PM »

Hello,

I'm mining PTS since the middle of december 2013 and buy some PTS with BTC.
I keep the PTS in my wallet.

Yesterday the PTS had made a great jump. That is nice, but it could go down again:(
I' m aware of the "normal" risks, when investing in stocks or altcoins.
It is a continues up and down.


I' ve read a lot about the upcoming Bitshare on the 28 of February, but I realy don't understand all the correlations.

So I have a view questions:

1. Who says, that the 28.2 is the releaes date for Bitshare?
2. Do I have to change my PTS to Bitshare after this date, or is it automatic?
3. Is it possible, that the PTS become worthless? So it would be better to change them into another altcoin like LTC oder BTC?

It's all so confusing.

Can someone please explain the correlations or point me to link, where I can get these informations?

Sincerly,

Hurlie

Offline graffenwalder

Re: Confusing Bitshare / Pts
« Reply #1 on: February 20, 2014, 06:40:49 PM »
1. 28-2 isn't the release date, a snapshot is taken which determins how BTS is allocated.
2. Just keep your PTS in your local wallet and tools will be provided to claim BTS
3. There is a chance that PTS will drop on March 1, however they are still valuable because they will entitle you to a share in future DAC s.
« Last Edit: February 20, 2014, 06:50:16 PM by Graffenwalder »

Offline Hurlie

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Re: Confusing Bitshare / Pts
« Reply #2 on: February 20, 2014, 06:59:23 PM »
Thanks for your answer,

 but it seems to be too complicated for me:
(Perhaps it is only a lingual problem. My knowledge of the english language is minimal)

1.) What is the meaning of "snapshot is taken which determins how BTS is allocated".
Could you please explain it to me in simple english?
- What snapshot?
- How can a snapshot dermine?


2.) 3.) If they drop, it could be neccessary to sell them.
Will the exchanges, like BTER, excepts PTS after the 28.2?
Or have I to wait with the selling, until the "tool to claim BTS" is provided?
That could take some time and the PTS (Bitshare) crashes to ground,
while I can't trade them.

In this case, it would be better, to change them before the 28.2. and
then buy some, when the storm is over.
On the other hand, it could be possible, that the rise:)

Why do you think, that they "can drop"?


Sincerly,

Hurlie





Offline mint chocolate chip

Re: Confusing Bitshare / Pts
« Reply #3 on: February 20, 2014, 07:00:55 PM »
After February 28th, you will have bitshares and still have your PTS. Expect the demand for PTS to continue to grow until February 28th.

After that date some people think the price of PTS will fall back, but others think that may not be the case. If bitshares turns out to be all that it can be, the demand for PTS will climb as people want to get a piece of future bitshare chains and other DACs.

Offline graffenwalder

Re: Confusing Bitshare / Pts
« Reply #4 on: February 20, 2014, 07:11:01 PM »
On 28.2 4 million bitshares are given away to PTS and AGS holders.
2 million bitshares are given to people (like you) who own PTS. At that moment a little over 1.5 million PTS exist. So for every PTS you'll get about 1.3 BTS(bit shares).

So the snapshot is a list of people who will get bitshares.
Your PTS is NOT transformed to BTS
PTS= PTS+BTS

Selling is your choice, exchanges like bter, will still accept PTS.
If you want to sell you have to wait till march 1 0.00 (01.00 German time), don't take it out of your wallet before or you don't get BTS.
PTS will likely drop a bit in price, but when a New DAC is about to be released the price will go up again.

I think they will drop because a Lott of people think PTS will only give BTS.

Es tut Mir leit, German is nicht gut.
« Last Edit: February 20, 2014, 07:14:32 PM by Graffenwalder »

Offline bitbadger

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Re: Confusing Bitshare / Pts
« Reply #5 on: February 20, 2014, 08:28:03 PM »
By your use of "oder" above I assume you speak German?

Thanks for your answer,

 but it seems to be too complicated for me:
(Perhaps it is only a lingual problem. My knowledge of the english language is minimal)

1.) What is the meaning of "snapshot is taken which determins how BTS is allocated".
Could you please explain it to me in simple english?
- What snapshot?
- How can a snapshot dermine?

PTS-market wird nicht am 28.2.14 geschlossen. Sondern alle Leute, die PTS haben am 28.2.14 23:59:59 pünktlich, BTS bekommen worden.  Wenn man 1.0 PTS am 28.2.14 hat, wird er ungefähr 1.3 BTS bekommen, automatisch.  Er hat auch die originelle 1.0 PTS.  Nicht passiert mit dem PTS, sondern sind die in BTS einfach abgeschrieben.  Vielleicht ist "abgeschrieben" eine gute Übersetzung für "snapshot".  Aber es ist nur für eine pünktliche Moment.  Es passiert einmal, und nie wieder.  "Snapshot" ist ein Software-Entwicklung-Wort, und bedeutet etwas anders in tägliche Englisch.

Quote
2.) 3.) If they drop, it could be neccessary to sell them.
Will the exchanges, like BTER, excepts PTS after the 28.2?
Or have I to wait with the selling, until the "tool to claim BTS" is provided?
That could take some time and the PTS (Bitshare) crashes to ground,
while I can't trade them.

In this case, it would be better, to change them before the 28.2. and
then buy some, when the storm is over.
On the other hand, it could be possible, that the rise:)

Why do you think, that they "can drop"?

Mann weiss nicht, wass mit die PTS danach 28.2.14 passiert können.  Die Market wird nicht gechlossen, aber haben die Wert, wenn die Bitshares verteilt worden?  Vielleicht denkt jemand, dass PTS hat kein Wert; dass alle Wert in PTS, ist in der möglichkeit von BTS.  Vielleicht denken anderen, dass PTS Wert hat, außerhalb von BTS, genausowie Bitcoin oder Litecoin.
« Last Edit: February 21, 2014, 06:22:35 AM by bitbadger »
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Offline Markus

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Re: Confusing Bitshare / Pts
« Reply #6 on: February 20, 2014, 11:12:20 PM »
Compare this to the entitlement date and payout of dividends of company stock.

- You have to have shares in your account at a certain point in time (here 28/2 24:00h)

- The next day the stock will trade ex-dividend (roughly lower by the value of the dividend, here by an unknown amount because the value of BTSX is not established well yet)

- Some time later the dividend will be transferred to your cash account (here you will have to install BTSX client and import your PTS wallet.dat, the date will be sometime mid March)

Offline Stan

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Re: Confusing Bitshare / Pts
« Reply #7 on: February 21, 2014, 03:09:58 AM »
Thanks for your answer,

 but it seems to be too complicated for me:
(Perhaps it is only a lingual problem. My knowledge of the english language is minimal)

1.) What is the meaning of "snapshot is taken which determins how BTS is allocated".
Could you please explain it to me in simple english?
- What snapshot?
- How can a snapshot dermine?

  "Snapshot" ist ein Software-Entwicklung-Wort, und bedeutet etwas anders in tägliche Englisch.

Wir werden "ein Foto" der Zustand der blockchain im letzten Block des Monats.

It captures, like a camera, what everybody owns at that one moment in time.


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 FelixO

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Re: Confusing Bitshare / Pts
« Reply #8 on: February 21, 2014, 06:06:13 AM »
I am surprised by the sudden switch to german   :)

As an Austrian I can only endorse it though  +5%  :D

Offline Pauly

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Re: Confusing Bitshare / Pts
« Reply #9 on: February 22, 2014, 06:07:41 PM »
On 28.2 4 million bitshares are given away to PTS and AGS holders.
2 million bitshares are given to people (like you) who own PTS. At that moment a little over 1.5 million PTS exist. So for every PTS you'll get about 1.3 BTS(bit shares).

So the snapshot is a list of people who will get bitshares.
Your PTS is NOT transformed to BTS
PTS= PTS+BTS

Selling is your choice, exchanges like bter, will still accept PTS.
If you want to sell you have to wait till march 1 0.00 (01.00 German time), don't take it out of your wallet before or you don't get BTS.
PTS will likely drop a bit in price, but when a New DAC is about to be released the price will go up again.

I think they will drop because a Lott of people think PTS will only give BTS.

Es tut Mir leit, German is nicht gut.

Hello thanks for this explaination.. curious though, why or what advantage is there to this..?
If any..?

From the Invictus Bitshares AGS website..

"Each day, those who donate PTS to this Angel Address will proportionally split 5,000 AGS:"

So is it better just to withhold your PTS in your wallet or donate them to the proportional split? Any info would be great, very new to PTS and Bitshares. Thanks!

 

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