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Tuck Fheman

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Buying PTS after 2/28 will give me the bitshares-pts too?
« on: March 05, 2014, 07:43:52 AM »

If I purchase Protoshares after the snapshot (today), but before bitshares-pts are received by the current PTS holder (I'm assuming that cant' happen until there's a wallet) ... do I then become the owner of the future bitshares-pts (which give shares in the first DAC, bitshares-x, + all DAC's built off it) when the wallet is released?




Offline unsoindovo

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Re: Buying PTS after 2/28 will give me the bitshares-pts too?
« Reply #1 on: March 05, 2014, 09:11:31 AM »
no bitshare for pts after snapshot is taken!!!

Offline xeroc

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Re: Buying PTS after 2/28 will give me the bitshares-pts too?
« Reply #2 on: March 05, 2014, 09:45:35 AM »
actually .. there seems to be a misunderstanding.

PTS = protoshares = bitshares-pts

they all are the same chain, same application, just different names from marketing ...
latest (and final) name of pts is:
        BitShares-PTS
Give BitShares a try! Use the http://testnet.bitshares.eu provided by http://bitshares.eu powered by ChainSquad GmbH

Offline santaclause102

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Re: Buying PTS after 2/28 will give me the bitshares-pts too?
« Reply #3 on: March 05, 2014, 09:58:04 AM »
If I purchase Protoshares after the snapshot (today), but before bitshares-pts are received by the current PTS holder (I'm assuming that cant' happen until there's a wallet) ... do I then become the owner of the future bitshares-pts (which give shares in the first DAC, bitshares-x, + all DAC's built off it) when the wallet is released?

I think you got something confused. The thing you will get at the 15. of March or rather a bit after that is Bitshares X and you will get that by imprting your Bitshare PTS private keys to the Bitshares X wallet.
If you increase your Bitshares PTS stack now you will not increase the Bitsahres X you will get because the Snapshot was taken at the 28. of Feb. But you will increase your stake in other DACs that will be realised by invictus or others that use the invictus ecosystem....
Hope that helps.

Tuck Fheman

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Re: Buying PTS after 2/28 will give me the bitshares-pts too?
« Reply #4 on: March 06, 2014, 03:54:31 AM »
If I purchase Protoshares after the snapshot (today), but before bitshares-pts are received by the current PTS holder (I'm assuming that cant' happen until there's a wallet) ... do I then become the owner of the future bitshares-pts (which give shares in the first DAC, bitshares-x, + all DAC's built off it) when the wallet is released?

I think you got something confused. The thing you will get at the 15. of March or rather a bit after that is Bitshares X and you will get that by imprting your Bitshare PTS private keys to the Bitshares X wallet.
If you increase your Bitshares PTS stack now you will not increase the Bitsahres X you will get because the Snapshot was taken at the 28. of Feb. But you will increase your stake in other DACs that will be realised by invictus or others that use the invictus ecosystem....
Hope that helps.

I'm using the word "protoshares" because that's all you can buy on the exchanges at this time. I'm under the assumption that ...

  • all the Protoshares were converted to bitshares-pts on 2/28.
  • there is no wallet to get your bitshares-pts at this time.
  • that leaves nothing but Protoshares in existence right now.

So, I guess I need to ask ... how are the bitshares-PTS tied to each person? 
Or, how does the bitshares-PTS blockchain know who gets each bitshares-pts if the Protoshares used in the snapshot were then sold on an exchange after the snapshot?

Maybe I'm just completely misunderstanding how we went from PTS to bitshares-PTS and why Protoshares that were used in the 2/28 snapshot can be purchased on exchanges after the snapshot.  And that made me curious as to whether I would receive the bitshares-PTS associated with any Protoshare I purchased on an exchange.

Did the Protoshares just get 'washed' in the 2/28 snapshot and then sent back out into distribution as 'new' Protoshares that can be converted into new bitshares-PTS but only used in future DAC's (not bitshares-x)?

Offline Troglodactyl

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Re: Buying PTS after 2/28 will give me the bitshares-pts too?
« Reply #5 on: March 06, 2014, 04:58:14 AM »
"Protoshares" is BitShares PTS, represented by the "PTS" symbol.  It was renamed because "Protoshare" is a trademark claimed by another company for an entirely unrelated product.  Some of the exchanges still haven't changed the name on their sites.

PTS was not converted on 2/28, all holders on that date keep their PTS but are additionally paid a dividend in shares of BitSharesX.

Offline NewMine

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Re: Buying PTS after 2/28 will give me the bitshares-pts too?
« Reply #6 on: March 06, 2014, 05:39:38 AM »
If I purchase Protoshares after the snapshot (today), but before bitshares-pts are received by the current PTS holder (I'm assuming that cant' happen until there's a wallet) ... do I then become the owner of the future bitshares-pts (which give shares in the first DAC, bitshares-x, + all DAC's built off it) when the wallet is released?

I think you got something confused. The thing you will get at the 15. of March or rather a bit after that is Bitshares X and you will get that by imprting your Bitshare PTS private keys to the Bitshares X wallet.
If you increase your Bitshares PTS stack now you will not increase the Bitsahres X you will get because the Snapshot was taken at the 28. of Feb. But you will increase your stake in other DACs that will be realised by invictus or others that use the invictus ecosystem....
Hope that helps.

I'm using the word "protoshares" because that's all you can buy on the exchanges at this time. I'm under the assumption that ...

  • all the Protoshares were converted to bitshares-pts on 2/28.
  • there is no wallet to get your bitshares-pts at this time.
  • that leaves nothing but Protoshares in existence right now.

So, I guess I need to ask ... how are the bitshares-PTS tied to each person? 
Or, how does the bitshares-PTS blockchain know who gets each bitshares-pts if the Protoshares used in the snapshot were then sold on an exchange after the snapshot?

Maybe I'm just completely misunderstanding how we went from PTS to bitshares-PTS and why Protoshares that were used in the 2/28 snapshot can be purchased on exchanges after the snapshot.  And that made me curious as to whether I would receive the bitshares-PTS associated with any Protoshare I purchased on an exchange.

Did the Protoshares just get 'washed' in the 2/28 snapshot and then sent back out into distribution as 'new' Protoshares that can be converted into new bitshares-PTS but only used in future DAC's (not bitshares-x)?

They re-branded "Protoshares" as "Bitshares-PTS". Not really sure why they felt the need to do this since it is only causing confusion for people outside the community and was rather pointless for those already part of the community.  Invictus decided to correlate the names of 2 of their products quite unecessarily.  Same "coin", different name.

Only the protoshares/Bitshares-PTS will receive "Bitshares X" (the decentralized exchange)  that were in circulation/mined prior to the cut off.  These shares also needed to be in your control, not an exchanges.

Protoshares/Bitshares-PTS acquired or mined after will only receive partial stakes in Invictus' future DAC/product releases. Which won't happen for a year or more as seems to be the consensus.

Tuck Fheman

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Re: Buying PTS after 2/28 will give me the bitshares-pts too?
« Reply #7 on: March 06, 2014, 05:53:14 AM »
They re-branded "Protoshares" as "Bitshares-PTS".

Only the protoshares/Bitshares-PTS will receive "Bitshares X" (the decentralized exchange)  that were in circulation/mined prior to the cut off.  These shares also needed to be in your control, not an exchanges.

Protoshares/Bitshares-PTS acquired or mined after will only receive partial stakes in Invictus' future DAC/product releases. Which won't happen for a year or more as seems to be the consensus.

Yep, I'm on the same page with you guys/gals on all that but, what I'm having a hard time grasping is this ...

User A has a Protoshare on 2/28 that became a bitshare-pts (name change) and gave ~1.33 shares in bitshares-x.
User A on 3/5 decides to sell his bitshare-pts (still called protoshares on exchanges) on Cryptsy and transfers it to the exchange.
User B buys the bitshares-pts on Cryptsy and transfers it to his personal wallet.

As far as I can tell, there is no bitshares-x (or bitshares-xt) wallet which holds the ~1.33 'shares'.
So no one actually has their shares yet, correct?

If User A has transferred his bitshare-pts to User B via a sell on Cryptsy after the snapshot AND User A does not yet have possession of the ~1.33 bitshare-x shares ... how will User A be credited with the ~1.33 bitshares-x shares?  What is tying the currently non-existent bitshares-x (bitshares-xt) shares to User A when the bitshares-x wallet is released (considering User A has now sold the bitshares-x associated with the bitshares-x shares to User B)?

Does that make sense? 
« Last Edit: March 06, 2014, 05:55:44 AM by Tuck Fheman »

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Re: Buying PTS after 2/28 will give me the bitshares-pts too?
« Reply #8 on: March 06, 2014, 06:22:44 AM »
Person A

- holds 100 PTS over 2.28.2014 - 1.31.2014 (Snapshot was taken)
- now he will receive about 133 Bitshares-X with his privat PTS key when the Bitshares-X wallet is available

Person B

- bought 100 PTS 3.3.2014 form Person A and now he gets 0 Bitshares-X, but he will get all future DACs


Tuck Fheman

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Re: Buying PTS after 2/28 will give me the bitshares-pts too?
« Reply #9 on: March 06, 2014, 09:22:43 AM »
Person A

- holds 100 PTS over 2.28.2014 - 1.31.2014 (Snapshot was taken)
- now he will receive about 133 Bitshares-X with his privat PTS key when the Bitshares-X wallet is available

Person B

- bought 100 PTS 3.3.2014 form Person A and now he gets 0 Bitshares-X, but he will get all future DACs

So, what is keeping tabs on where the bitshares-xt shares go if User A has sold all bitshares-pts before the bitshares-xt wallet is released?

When bitshares-xt wallet it is released User B will now be holding the bitshares-pts that were snapshot on 2/28 when User A had them.

bitshares-pts and bitshares-x are completely different chains, right?

how does bitshares-x know User A's bitshares-x wallet  is where the shares go when the wallet is released?

Offline fishseeds

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Re: Buying PTS after 2/28 will give me the bitshares-pts too?
« Reply #10 on: March 06, 2014, 10:04:07 AM »
If I purchase Protoshares after the snapshot (today), but before bitshares-pts are received by the current PTS holder (I'm assuming that cant' happen until there's a wallet) ... do I then become the owner of the future bitshares-pts (which give shares in the first DAC, bitshares-x, + all DAC's built off it) when the wallet is released?

I think you got something confused. The thing you will get at the 15. of March or rather a bit after that is Bitshares X and you will get that by imprting your Bitshare PTS private keys to the Bitshares X wallet.
If you increase your Bitshares PTS stack now you will not increase the Bitsahres X you will get because the Snapshot was taken at the 28. of Feb. But you will increase your stake in other DACs that will be realised by invictus or others that use the invictus ecosystem....
Hope that helps.

The only dac they will release that seems worthwhile is the BTS Domains. All the others look to be shit. Was not worth mining since november.

sumantso

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Re: Buying PTS after 2/28 will give me the bitshares-pts too?
« Reply #11 on: March 06, 2014, 02:01:27 PM »
Person A

- holds 100 PTS over 2.28.2014 - 1.31.2014 (Snapshot was taken)
- now he will receive about 133 Bitshares-X with his privat PTS key when the Bitshares-X wallet is available

Person B

- bought 100 PTS 3.3.2014 form Person A and now he gets 0 Bitshares-X, but he will get all future DACs

So, what is keeping tabs on where the bitshares-xt shares go if User A has sold all bitshares-pts before the bitshares-xt wallet is released?

When bitshares-xt wallet it is released User B will now be holding the bitshares-pts that were snapshot on 2/28 when User A had them.

bitshares-pts and bitshares-x are completely different chains, right?

how does bitshares-x know User A's bitshares-x wallet  is where the shares go when the wallet is released?

https://bitsharestalk.org/index.php?topic=3330.0
https://bitsharestalk.org/index.php?topic=3371.0

Offline toast

Re: Buying PTS after 2/28 will give me the bitshares-pts too?
« Reply #12 on: March 06, 2014, 03:39:22 PM »
If User A has transferred his bitshare-pts to User B via a sell on Cryptsy after the snapshot AND User A does not yet have possession of the ~1.33 bitshare-x shares ... how will User A be credited with the ~1.33 bitshares-x shares?  What is tying the currently non-existent bitshares-x (bitshares-xt) shares to User A when the bitshares-x wallet is released (considering User A has now sold the bitshares-x associated with the bitshares-x shares to User B)?

Does that make sense?

User A still has the private keys to the addresses that controlled the funds on 2/28
Do not use this post as information for making any important decisions. The only agreements I ever make are informal and non-binding. Take the same precautions as when dealing with a compromised account, scammer, sockpuppet, etc.

Tuck Fheman

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Re: Buying PTS after 2/28 will give me the bitshares-pts too?
« Reply #13 on: March 06, 2014, 10:50:43 PM »
If User A has transferred his bitshare-pts to User B via a sell on Cryptsy after the snapshot AND User A does not yet have possession of the ~1.33 bitshare-x shares ... how will User A be credited with the ~1.33 bitshares-x shares?  What is tying the currently non-existent bitshares-x (bitshares-xt) shares to User A when the bitshares-x wallet is released (considering User A has now sold the bitshares-x associated with the bitshares-x shares to User B)?

Does that make sense?

User A still has the private keys to the addresses that controlled the funds on 2/28

Ahhhhh, now I see. Thank you so much! I'm still trying to grasp the underbelly of cryptocurrency and just assumed once the actual 'thing' (bitshares-pts) was transferred the 'records' associated with it went as well to the new owner. 

Offline Helikopterben

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Re: Buying PTS after 2/28 will give me the bitshares-pts too?
« Reply #14 on: March 07, 2014, 02:28:34 PM »
I funded 4 PTS addresses on 2/20.  Is there a BTS block explorer I can check to see if the same addresses are funded with bitshares?

 

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