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Offline Simeon II

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Is BTS X going to win the race and why?
« on: June 29, 2014, 12:30:39 AM »


What is the plan for dealing with this:
https://bitcointalk.org/index.php?topic=499211.0

I am not saying the poster will be the one doing this successfully but:
-It is doable (easily with an open source code)
-It does follow the ’social consensus’ -10% or more for PTS and 10% or more for AGS.

And yet, if project like that takes off better than BTS X,let say they find the magic distribution and have great marketing, all AGS donors more or less have thrown their money away.



Offline toast

Re: Is BTS X going to win the race and why?
« Reply #1 on: June 29, 2014, 12:38:19 AM »
Totally unnecessary bump there... scam copycat AFAIK.

In general we should be slightly worried about clones with better distributions. In this particular case, I am not worried.
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 toast

Re: Is BTS X going to win the race and why?
« Reply #2 on: June 29, 2014, 12:39:21 AM »
Interesting... before there was a donation BTC address asking for money, now it is not there?
IDK.
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 Simeon II

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Re: Is BTS X going to win the race and why?
« Reply #3 on: June 29, 2014, 12:45:29 AM »

Maybe I can put the question also like this – Do believe that the distribution from Feb 28 2014 – 50% PTS; 50% AGS (donors to that point) is the best possible? Reasons for such opinion?

I am not particularly worried about this poster/project, more of a general question.

Offline gamey

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Re: Is BTS X going to win the race and why?
« Reply #4 on: June 29, 2014, 12:53:47 AM »

Maybe I can put the question also like this – Do believe that the distribution from Feb 28 2014 – 50% PTS; 50% AGS (donors to that point) is the best possible? Reasons for such opinion?

I am not particularly worried about this poster/project, more of a general question.

It is best possible because if they changed _that_ then people would completely lose all faith in the integrity of I3/Bitshares.  I've seen some discussion about how they have changed things in the past, but it all seemed reasonable.  Changing the snapshot date would show extreme bad faith to those who paid the premium for PTS leading up to Feb 28th.  It would do immeasurable harm to the brand.
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merockstar

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Re: Is BTS X going to win the race and why?
« Reply #5 on: June 29, 2014, 01:46:17 AM »

Maybe I can put the question also like this – Do believe that the distribution from Feb 28 2014 – 50% PTS; 50% AGS (donors to that point) is the best possible? Reasons for such opinion?

I am not particularly worried about this poster/project, more of a general question.

It is best possible because if they changed _that_ then people would completely lose all faith in the integrity of I3/Bitshares.  I've seen some discussion about how they have changed things in the past, but it all seemed reasonable.  Changing the snapshot date would show extreme bad faith to those who paid the premium for PTS leading up to Feb 28th.  It would do immeasurable harm to the brand.

This is the only reason I bite my tongue on suggesting a new snapshot that includes all the AGS donors.

Offline Simeon II

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Re: Is BTS X going to win the race and why?
« Reply #6 on: June 29, 2014, 01:51:32 AM »

Maybe I can put the question also like this – Do believe that the distribution from Feb 28 2014 – 50% PTS; 50% AGS (donors to that point) is the best possible? Reasons for such opinion?

I am not particularly worried about this poster/project, more of a general question.

It is best possible because if they changed _that_ then people would completely lose all faith in the integrity of I3/Bitshares.  I've seen some discussion about how they have changed things in the past, but it all seemed reasonable.  Changing the snapshot date would show extreme bad faith to those who paid the premium for PTS leading up to Feb 28th.  It would do immeasurable harm to the brand.

Gamey, the snapshot date is not an issue I am trying to address here; my question will still be the same no matter which exact date the BTS X uses for the snapshot from the AGS.

Offline gamey

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Re: Is BTS X going to win the race and why?
« Reply #7 on: June 29, 2014, 02:06:24 AM »
Gamey, the snapshot date is not an issue I am trying to address here; my question will still be the same no matter which exact date the BTS X uses for the snapshot from the AGS.

So you are more interested in the percentages?  Are you suggesting they gave away a large percentage in some manner?  There are infinite distributions they could have chose, but I think the one they went with was meant to motivate people to donate while increasing the price of PTS.  You'd have to propose a specific distribution for me to make any comment as their choice seems reasonable to me.  I'd also guess the Bitshares guys would stick with their choice of distribution.  I am curious though what you think might have been better.
I speak for myself and only myself.

merockstar

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Re: Is BTS X going to win the race and why?
« Reply #8 on: June 29, 2014, 02:08:22 AM »
As long as they're honouring the social consensus then if they do a better job of marketing it, and attain a better distribution, and become to goto project for this, then I'm okay with it. Seems like less Dan & team would have to worry about then.

Offline mint chocolate chip

Re: Is BTS X going to win the race and why?
« Reply #9 on: June 29, 2014, 02:15:50 AM »
Interesting... before there was a donation BTC address asking for money, now it is not there?
IDK.

It is there...

Quote from: BitXfund

How much you need to spend?
-------------------------
First 5 pages    : free ,just show interested in
pages 6-30      : fee= 0.002 btc or 0.2pts or 20nxt
pages 31-50     : fee= 0.004 btc or 0.4pts or 40nxt
pages 51-70     : fee= 0.008 btc or 0.8pts or 80nxt
pages 71-90     : fee= 0.016 btc or 1.6pts or 160nxt
after pages 90  : fee= 0.02   btc or 2.0pts or 200nxt
-------------------------

Donate address:
BTC: 1EB...
PTS: Pqq...

merockstar

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Re: Is BTS X going to win the race and why?
« Reply #10 on: June 29, 2014, 02:20:33 AM »
Donate address:
BTC: 1EB...
PTS: Pqq...

he's been editing the post. it wasn't there when I looked so I assumed he'd wait until there was a product to ask for the donations.

it probably is just a scam.

Offline luckybit

Re: Is BTS X going to win the race and why?
« Reply #11 on: June 29, 2014, 02:33:30 AM »

What is the plan for dealing with this:
https://bitcointalk.org/index.php?topic=499211.0

I am not saying the poster will be the one doing this successfully but:
-It is doable (easily with an open source code)
-It does follow the ’social consensus’ -10% or more for PTS and 10% or more for AGS.

And yet, if project like that takes off better than BTS X,let say they find the magic distribution and have great marketing, all AGS donors more or less have thrown their money away.

Without a community their fork is worthless.
« Last Edit: June 29, 2014, 02:39:59 AM by luckybit »
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Offline Simeon II

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Re: Is BTS X going to win the race and why?
« Reply #12 on: June 29, 2014, 02:45:41 AM »
Gamey, the snapshot date is not an issue I am trying to address here; my question will still be the same no matter which exact date the BTS X uses for the snapshot from the AGS.

So you are more interested in the percentages?  Are you suggesting they gave away a large percentage in some manner?  There are infinite distributions they could have chose, but I think the one they went with was meant to motivate people to donate while increasing the price of PTS.  You'd have to propose a specific distribution for me to make any comment as their choice seems reasonable to me.  I'd also guess the Bitshares guys would stick with their choice of distribution.  I am curious though what you think might have been better.


Let say I donated 300 PTS in February (those cost me +/- $2,500) .For that I get 750 AGS (wishful thinking I know, just bending the numbers against my point). For 750 AGS,  I get roughly 2,500 BTS X (if 4 Mil total BTS X, or about  1/1600 of the total DAC).
Let’s say that my ‘unconfirmed resources are correct’ (that is totally random, I am making this stuff up) and
1.There are really only about 2000 active users on BTT. So, about 1600 will not mind participating in a free deal.
 2.The best way to distribute some DAC is to give equal share to those active users of BTT, other than honoring PTS/AGS holders with 10%+ each (honoring the social consensus).



My points revolve around the following: the $2500 spent in Feb seem like money thrown away for any well-established BTT user. (in other words the alternatives/relative costs are to spend $2500 or to post ‘I am interested’)




^^ merockstar  You did not have to post and then delete your post in the thread in question. :) That particular idea seem unlikely to go anywhere, but rises interesting general questions.

« Last Edit: June 29, 2014, 03:03:40 AM by Simeon II »

merockstar

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Re: Is BTS X going to win the race and why?
« Reply #13 on: June 29, 2014, 03:08:48 AM »

^^ merockstar  You did not have to post and then delete your post in the thread in question. :) That particular idea seem unlikely to go anywhere, but rises interesting general questions.

I deleted my post because I'm not sending them money. (when I read the thread the first time there was no address posted so I thought why not, now it looks like a scam to me)

Offline gamey

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Re: Is BTS X going to win the race and why?
« Reply #14 on: June 29, 2014, 04:40:59 AM »
Gamey, the snapshot date is not an issue I am trying to address here; my question will still be the same no matter which exact date the BTS X uses for the snapshot from the AGS.

So you are more interested in the percentages?  Are you suggesting they gave away a large percentage in some manner?  There are infinite distributions they could have chose, but I think the one they went with was meant to motivate people to donate while increasing the price of PTS.  You'd have to propose a specific distribution for me to make any comment as their choice seems reasonable to me.  I'd also guess the Bitshares guys would stick with their choice of distribution.  I am curious though what you think might have been better.


Let say I donated 300 PTS in February (those cost me +/- $2,500) .For that I get 750 AGS (wishful thinking I know, just bending the numbers against my point). For 750 AGS,  I get roughly 2,500 BTS X (if 4 Mil total BTS X, or about  1/1600 of the total DAC).
Let’s say that my ‘unconfirmed resources are correct’ (that is totally random, I am making this stuff up) and
1.There are really only about 2000 active users on BTT. So, about 1600 will not mind participating in a free deal.
 2.The best way to distribute some DAC is to give equal share to those active users of BTT, other than honoring PTS/AGS holders with 10%+ each (honoring the social consensus).



My points revolve around the following: the $2500 spent in Feb seem like money thrown away for any well-established BTT user. (in other words the alternatives/relative costs are to spend $2500 or to post ‘I am interested’)


I have quit following the altcoin scene on BTT.  The last coin I had any interest in was NEM because it had legitimate developers working on something from scratch + distribution.  I still am interested in it and have a stake.

I have yet to see any generic fork gain any sort of real market acceptance.  If you can find examples of forks gathering significant market cap, then I would agree more with your point about the $2500 being wasted.  However I don't see this being the case.  Yes you can get more in on a coin for a lot less, but it doesn't follow that it will actually ever be worth anything.  Anyone who can compile can fork something.  It means so little in itself.
I speak for myself and only myself.

 

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