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Offline jwiz168

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8M or 4M BTS?
« on: April 14, 2014, 11:04:31 PM »

Sorry guys for missing this . But I want to know how much bitshare from the snapshot? Originally, it was 4 million shares. But as I saw the specs on the website, it is 8 million. What is the final number of shares for bitshare?


Offline Stan

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Re: 8M or 4M BTS?
« Reply #1 on: April 15, 2014, 02:17:13 AM »
Sorry guys for missing this . But I want to know how much bitshare from the snapshot? Originally, it was 4 million shares. But as I saw the specs on the website, it is 8 million. What is the final number of shares for bitshare?

First, it doesn't really matter since all DACs transact in BIPs - as a billionth of the total shares in circulation. 

Second, since it doesn't really matter, we thought we might as well go with a lucky number that our Chinese friends have recommended. 

Hence the 8,000,000 shares = 1,000,000,000 BIPS.

That means, for XTS,
PTS holders get 500,000,000 BIPs and
AGS holders get 500,000,000 BIPs

A BIP will start out as 1/125 shares, but as dividends are paid by destroying shares this number will gradually erode.

This means if you start out holding, say, 1000 BIPS you'll watch that number grow as dividends are paid instantly every time a transaction takes place somewhere in the world and a grain of XTS dust is destroyed and split among all shareholders and delegate employees.

Computational efficiency and instant gratification are the bottom line.

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.

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Re: 8M or 4M BTS?
« Reply #2 on: April 15, 2014, 02:30:09 AM »
Assuming world wide adoption, how quickly would the one billion bip supply reach half life? And what would you do about it reaching that point or some other lower point?


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Offline bytemaster

Re: 8M or 4M BTS?
« Reply #3 on: April 15, 2014, 02:34:55 AM »
Assuming world wide adoption, how quickly would the one billion bip supply reach half life? And what would you do about it reaching that point or some other lower point?


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The beauty of bips is that there is no half life... there is always 1 billion bips.    Shares on the other hand depends upon the profitability of the individual DAC.
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Offline jwiz168

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Re: 8M or 4M BTS?
« Reply #4 on: April 15, 2014, 02:42:30 AM »
Sorry guys for missing this . But I want to know how much bitshare from the snapshot? Originally, it was 4 million shares. But as I saw the specs on the website, it is 8 million. What is the final number of shares for bitshare?

First, it doesn't really matter since all DACs transact in BIPs - as a billionth of the total shares in circulation. 

Second, since it doesn't really matter, we thought we might as well go with a lucky number that our Chinese friends have recommended. 

Hence the 8,000,000 shares = 1,000,000,000 BIPS.

That means, for XTS,
PTS holders get 500,000,000 BIPs and
AGS holders get 500,000,000 BIPs

A BIP will start out as 1/125 shares, but as dividends are paid by destroying shares this number will gradually erode.

This means if you start out holding, say, 1000 BIPS you'll watch that number grow as dividends are paid instantly every time a transaction takes place somewhere in the world and a grain of XTS dust is destroyed and split among all shareholders and delegate employees.

Computational efficiency and instant gratification are the bottom line.


ok let me break this down.

After Feb 28 snapshot
 
         total coins /coins generated          percentage [email protected]
PTS -2,000,000 / 1,500,000   =                1.33
AGS -2,000,000/ 600,000 =                      3.33


If I have 20 AGS and applied the 4M cap scenario I will basically have 66.6 BTS

Now with related to 8,000,000 shares, how much value in BIPS if I have initially 66.6 BTS after snapshot?



Offline Stan

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Re: 8M or 4M BTS?
« Reply #5 on: April 15, 2014, 02:45:02 AM »
Sorry guys for missing this . But I want to know how much bitshare from the snapshot? Originally, it was 4 million shares. But as I saw the specs on the website, it is 8 million. What is the final number of shares for bitshare?

First, it doesn't really matter since all DACs transact in BIPs - as a billionth of the total shares in circulation. 

Second, since it doesn't really matter, we thought we might as well go with a lucky number that our Chinese friends have recommended. 

Hence the 8,000,000 shares = 1,000,000,000 BIPS.

That means, for XTS,
PTS holders get 500,000,000 BIPs and
AGS holders get 500,000,000 BIPs

A BIP will start out as 1/125 shares, but as dividends are paid by destroying shares this number will gradually erode.

This means if you start out holding, say, 1000 BIPS you'll watch that number grow as dividends are paid instantly every time a transaction takes place somewhere in the world and a grain of XTS dust is destroyed and split among all shareholders and delegate employees.

Computational efficiency and instant gratification are the bottom line.


ok let me break this down.

After Feb 28 snapshot
 
         total coins /coins generated          percentage [email protected]
PTS -2,000,000 / 1,500,000   =                1.33
AGS -2,000,000/ 600,000 =                      3.33


If I have 20 AGS and applied the 4M cap scenario I will basically have 66.6 BTS

Now with related to 8,000,000 shares, how much value in BIPS if I have initially 66.6 BTS after snapshot?

Multiply by 125.
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 jwiz168

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Re: 8M or 4M BTS?
« Reply #6 on: April 15, 2014, 02:47:33 AM »
Sorry guys for missing this . But I want to know how much bitshare from the snapshot? Originally, it was 4 million shares. But as I saw the specs on the website, it is 8 million. What is the final number of shares for bitshare?

First, it doesn't really matter since all DACs transact in BIPs - as a billionth of the total shares in circulation. 

Second, since it doesn't really matter, we thought we might as well go with a lucky number that our Chinese friends have recommended. 

Hence the 8,000,000 shares = 1,000,000,000 BIPS.

That means, for XTS,
PTS holders get 500,000,000 BIPs and
AGS holders get 500,000,000 BIPs

A BIP will start out as 1/125 shares, but as dividends are paid by destroying shares this number will gradually erode.

This means if you start out holding, say, 1000 BIPS you'll watch that number grow as dividends are paid instantly every time a transaction takes place somewhere in the world and a grain of XTS dust is destroyed and split among all shareholders and delegate employees.

Computational efficiency and instant gratification are the bottom line.


ok let me break this down.

After Feb 28 snapshot
 
         total coins /coins generated          percentage [email protected]
PTS -2,000,000 / 1,500,000   =                1.33
AGS -2,000,000/ 600,000 =                      3.33


If I have 20 AGS and applied the 4M cap scenario I will basically have 66.6 BTS

Now with related to 8,000,000 shares, how much value in BIPS if I have initially 66.6 BTS after snapshot?

Multiply by 125.


 +5%

...to the moon it will go  8)

Offline toast

Re: 8M or 4M BTS?
« Reply #7 on: April 15, 2014, 02:48:36 AM »
For 20 AGS:

before share supply doubles:
20*3.33 = 66.6 BTS = 16,650 BIPS of BTS
after share supply doubles:
20*3.33*2 = 133.33 BTS = 16,650 BIPS of BTS


I'm getting double what stan says which is 125*66.6 = 8,325

edit: I think stan used pre-double 66.6 BTS but post-double 8,000,000
« Last Edit: April 15, 2014, 02:50:10 AM by toast »
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.

Offline luckybit

Re: 8M or 4M BTS?
« Reply #8 on: April 15, 2014, 03:06:42 AM »
Sorry guys for missing this . But I want to know how much bitshare from the snapshot? Originally, it was 4 million shares. But as I saw the specs on the website, it is 8 million. What is the final number of shares for bitshare?

First, it doesn't really matter since all DACs transact in BIPs - as a billionth of the total shares in circulation. 

Second, since it doesn't really matter, we thought we might as well go with a lucky number that our Chinese friends have recommended. 

Hence the 8,000,000 shares = 1,000,000,000 BIPS.

That means, for XTS,
PTS holders get 500,000,000 BIPs and
AGS holders get 500,000,000 BIPs

A BIP will start out as 1/125 shares, but as dividends are paid by destroying shares this number will gradually erode.

This means if you start out holding, say, 1000 BIPS you'll watch that number grow as dividends are paid instantly every time a transaction takes place somewhere in the world and a grain of XTS dust is destroyed and split among all shareholders and delegate employees.

Computational efficiency and instant gratification are the bottom line.

As long as our proportions stay the same it actually doesn't really matter. Although it doesn't make a lot of sense why this change would be made so quietly. I've been regularly reviewing the code and I didn't even notice this.
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Offline xeroc

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Re: 8M or 4M BTS?
« Reply #9 on: April 15, 2014, 04:36:47 AM »
I thought keyhotee found also get some shares .. what happend with those?
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Offline toast

Re: 8M or 4M BTS?
« Reply #10 on: April 15, 2014, 04:45:12 AM »
I thought keyhotee found also get some shares .. what happend with those?

those are given a "day" of AGS, the AGS fundraiser only goes for 199 days
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Offline xeroc

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Re: 8M or 4M BTS?
« Reply #11 on: April 15, 2014, 04:50:06 AM »
Ahh ... right I forgot about that ..
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Offline vlight

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Re: 8M or 4M BTS?
« Reply #12 on: April 15, 2014, 09:13:46 AM »
Thanks for clarifying this.  :D

Offline mf-tzo

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Re: 8M or 4M BTS?
« Reply #13 on: April 15, 2014, 12:44:27 PM »
Sorry just to double check I understood correctly:

4 mil (PTS - AGS)= 8 million BTS shares = 1 bil BIPS and therefore

20 AGS = 20 x 3.33 x 2 = 133.2 shares = 16,650 BIPS 

and

20 PTS = 20 x 1.33 x 2 = 53.2 shares = 6,650 BIPS

Please advise if I miss understood something...

 

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