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Offline danonthehill

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What are Bitshares?
« on: February 24, 2014, 11:38:48 AM »

1) Shares in a DAC, which is analogous to shares in a traditional company.  Therefore the company will generate a profit from its activities and pay dividends.
2) Shares in a software company i.e. Invictus Innovations.
3) Shares in the profits generated from the adoption of the software which is licensed by Invictus Innovations.
4) Not shares, but another kind of trading instrument, which facilitates trades in other assets.


Offline bytemaster

Re: What are Bitshares?
« Reply #1 on: February 25, 2014, 06:35:42 AM »
1) Shares in a DAC, which is analogous to shares in a traditional company.  Therefore the company will generate a profit from its activities and pay dividends.
2) Shares in a software company i.e. Invictus Innovations.
3) Shares in the profits generated from the adoption of the software which is licensed by Invictus Innovations.
4) Not shares, but another kind of trading instrument, which facilitates trades in other assets.

Not shares in Invictus Innovations

BitShares is a CONCEPT, an analogy, and nothing in particular.

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 danonthehill

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Re: What are Bitshares?
« Reply #2 on: February 25, 2014, 01:06:00 PM »
So what does the "share allocation of BitShares 1.0" represent, shares in nothing in particular 1.0?
« Last Edit: February 25, 2014, 01:29:22 PM by danonthehill »

Offline speedy

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Re: What are Bitshares?
« Reply #3 on: February 25, 2014, 01:45:35 PM »
Practically speaking, BitsharesX is a DAC providing a decentralized bank & exchange. Holders of BTS receive dividends from the bank's profits, and can use their shares to buy/sell currencies/assets traded on the exchange. As its a decentralized exchange, it doesnt have the same vulnerabilities as MtGox for example.

Offline danonthehill

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Re: What are Bitshares?
« Reply #4 on: February 25, 2014, 04:24:38 PM »
I understand that Bitshares could represent an over arching concept, and from a branding perspective that this is a good idea, but I think the uses of the word and its many variations, seems to be a point of confusion, as it appears to represent different things in different contexts and, perhaps, historically, different things at different stages of its development as an idea.

I have just invested in AGS, but I am still not entirely sure what I have invested in.  I understand the concept of an angel founder, whether classified as a donor or shareholder.  But are AGS simply a vehicle for obtaining BTS i.e. the BTS being shares in the DAC and future DACS, or are AGS themselves shares in the DAC and future DACS? 

Also once I am allocated AGS, do I have to trade them for BTS?

Another question is I also read that AGS represent shares in the first test chain, and that future snapshots will take place if this fails.  Does this mean my AGS will become valueless at this point? 


Offline speedy

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Re: What are Bitshares?
« Reply #5 on: February 25, 2014, 04:30:13 PM »
AGS gives you BTS automatically when the software is released. Your BTC address used to donate for AGS is the same address encoded in the BTS genesis block.

In other words, there is no "transferring" - you simply reuse your same addresses in the new chain, and it doesnt cost you anything.

Its pretty stress free IMHO.

Offline bytemaster

Re: What are Bitshares?
« Reply #6 on: February 25, 2014, 08:57:31 PM »
When you send money to AGS you are giving your support to the ideals of decentralization and free markets and the funds received are no strings attached.   The record of your support is captured in the respective blockchains and thus you can prove to anyone that you supported this movement.   Those who decide to use what we are doing to launch a chain should recognize that support in a meaningful way to gain the communities support for their chain.   We think that meaningful means at least 10% for AGS and 10% for PTS and I suspect most agree.

The meaning of BitShares has changed over time, originally it was merely my name for a single concept.  Since then there have been many concepts and I have hired a marketing guy who has concluded that BitShares should be a brand on everything so that marketing efforts are not diluted.   Therefore the original idea has been rebranded BitShares X.    BitShares X is itself a category and not a specific instance.  Thus BitShares XT is the brand for the test network. 

We have since adopted the convention of referring to the 'shares' (coins) in a DAC as BitShares or BTS in a generic sense without referring to any particular instance.  When we refer to specific instances they will have more appropriate names such as (XTS).    It really boils down to one simple concept, all chains/concepts can be identified as BitShares + CURRENCY CODE and thus we have BitShares PTS and BitShares AGS.   That said we have considered calling these ProtoBitShares and AngelBitShares. 

There are a lot of moving parts and if there was a way to communicate all of them clearly that would be of huge help.

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.

 

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