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Offline FreeTrade

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Who Owns The Two Largest Balances?
« on: June 03, 2014, 09:19:17 PM »

1.    PtvJzF8UsgPb7WEzda6ZpKRa5tepifvytV    250,100 PTS $1,079,222    67 operations    3 months ago    20 days ago
2.    PaNGELmZgzRQCKeEKM6ifgTqNkC4ceiAWw    245,189.08957354 PTS $1,058,030    12,126 operations    5 months ago    about 2 hours ago

I'm doing the PTS-> LTS (LottoShares) distribution and I'm curious about these two addresses.

Previously with MMC, doing a small distribution to PTS hampered the adoption by exchanges because they didn't want to undertake the work of doing the distribution. They also didn't want their users complaining that they hadn't done the distribution, so they ignored the currency entirely. It was an unforeseen and rather unfortunate effect of doing a distribution.

To avoid that problem I want to remove the distribution to exchanges so that they are in a better position to support LottoShares and have an explanation to give to their users about why they are not getting a distribution. The funds will be spread to the other PTS holders instead.

I'm assuming the first address is an exchange - can anyone provide more detail? And what of the second one - the AngelShares address - technically who owns those PTS? Who would get a distribution there?
“People should be more sophisticated? How are you gonna get that done?” - Jerry Seinfeld reply to Bill Maher

Offline Amazon

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Re: Who Owns The Two Largest Balances?
« Reply #1 on: June 03, 2014, 09:29:46 PM »
1 belongs to the largest Chinese exchange BTC38.

You can check it here (choose PTS) in the pull down menu.
http://www.btc38.com/trade/reserves.html

2 I only know it belongs to I3.
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Offline toast

Re: Who Owns The Two Largest Balances?
« Reply #2 on: June 03, 2014, 10:02:43 PM »
The second one is the angel address and shares allocated to that address are committed to being spent in the same way as donated BTC and PTS ("to grow the bitshares ecosystem"). It's a good way to get an additional dev/marketing premine without making it explicit.
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 FreeTrade

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Re: Who Owns The Two Largest Balances?
« Reply #3 on: June 03, 2014, 10:36:23 PM »
Toast, Amazon, thanks for the info -

For the two addresses then -

1. In the absence of any guarantee from BTC38 that a distribution will be passed onto the owners of the PTS, this address will be removed from the distribution.

2. This address will be honored, assuming that I3 will use it in the same way as the funds at the PTS address.
“People should be more sophisticated? How are you gonna get that done?” - Jerry Seinfeld reply to Bill Maher

Offline tonyk

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Re: Who Owns The Two Largest Balances?
« Reply #4 on: June 04, 2014, 12:05:16 AM »
The second one is the angel address and shares allocated to that address are committed to being spent in the same way as donated BTC and PTS ("to grow the bitshares ecosystem"). It's a good way to get an additional dev/marketing premine without making it explicit.

Same is the case with 2-3 other totaling 100K (they are the cold storage of the angel address ) - Stan, BM, toast can give you info which ones.

{EDIT} I believe those are the ones:
PdADGbE7rKb2m6U32ogmjyqZdcS8wzu3qV
Pf2RRNhGBEQiWoVNB7ahGjWMVKGYCfuKJY
« Last Edit: June 04, 2014, 12:10:17 AM by tonyk »
Lack of arbitrage is the problem, isn't it. And this 'should' solves it.

Offline Stan

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Re: Who Owns The Two Largest Balances?
« Reply #5 on: June 04, 2014, 12:50:54 AM »
Toast, Amazon, thanks for the info -

For the two addresses then -

1. In the absence of any guarantee from BTC38 that a distribution will be passed onto the owners of the PTS, this address will be removed from the distribution.

2. This address will be honored, assuming that I3 will use it in the same way as the funds at the PTS address.

Confirmed.  All eggs laid by donated geese stay in the BitShares trust.
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 gyhy

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Re: Who Owns The Two Largest Balances?
« Reply #6 on: June 04, 2014, 12:57:42 AM »
 +5%

Offline Stan

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Re: Who Owns The Two Largest Balances?
« Reply #7 on: June 04, 2014, 01:00:45 AM »
1.    PtvJzF8UsgPb7WEzda6ZpKRa5tepifvytV    250,100 PTS $1,079,222    67 operations    3 months ago    20 days ago
2.    PaNGELmZgzRQCKeEKM6ifgTqNkC4ceiAWw    245,189.08957354 PTS $1,058,030    12,126 operations    5 months ago    about 2 hours ago

I'm doing the PTS-> LTS (LottoShares) distribution and I'm curious about these two addresses.

Previously with MMC, doing a small distribution to PTS hampered the adoption by exchanges because they didn't want to undertake the work of doing the distribution. They also didn't want their users complaining that they hadn't done the distribution, so they ignored the currency entirely. It was an unforeseen and rather unfortunate effect of doing a distribution.

To avoid that problem I want to remove the distribution to exchanges so that they are in a better position to support LottoShares and have an explanation to give to their users about why they are not getting a distribution. The funds will be spread to the other PTS holders instead.

I'm assuming the first address is an exchange - can anyone provide more detail? And what of the second one - the AngelShares address - technically who owns those PTS? Who would get a distribution there?

They are held in a trust for development of the industry, just like the original donations themselves.  Effectively the donations were the goose and all its future eggs.

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 liondani

Re: Who Owns The Two Largest Balances?
« Reply #8 on: June 08, 2014, 09:30:10 PM »
To avoid that problem I want to remove the distribution to exchanges so that they are in a better position to support LottoShares and have an explanation to give to their users about why they are not getting a distribution. The funds will be spread to the other PTS holders instead.

Why don't you speak with them? The last time (snapshot 28 februar) they gave to the real owners the BTS, why not now?
It is not fair in my mind.
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Offline FreeTrade

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Re: Who Owns The Two Largest Balances?
« Reply #9 on: June 28, 2014, 06:17:24 AM »
Update: I've contacted BTC38 and advised them of the situation. They'll need to commit to making the distribution or their addresses will be removed before launch.
“People should be more sophisticated? How are you gonna get that done?” - Jerry Seinfeld reply to Bill Maher

 

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