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Offline mf-tzo

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BTER and snapshot
« on: August 18, 2014, 08:12:59 PM »

Does anyone knows if Bter is honoring the 2 PTS snapshots on the 21st or only BTC38 does?


Offline xeroc

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Re: BTER and snapshot
« Reply #1 on: August 18, 2014, 09:50:17 PM »
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Offline mf-tzo

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Re: BTER and snapshot
« Reply #2 on: August 18, 2014, 09:55:12 PM »
what time exactly is the snapshot anyway? can we have a countdown somewhere?

Offline xeroc

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Re: BTER and snapshot
« Reply #3 on: August 18, 2014, 10:12:25 PM »
what time exactly is the snapshot anyway? can we have a countdown somewhere?
last block before 23:59:59 UTC
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Offline mf-tzo

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Re: BTER and snapshot
« Reply #4 on: August 18, 2014, 10:17:03 PM »
thank you!

Offline cass

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Re: BTER and snapshot
« Reply #5 on: August 18, 2014, 10:51:40 PM »
countdown - http://dotp2p.io/
█║▌║║█  - - -  The quieter you become, the more you are able to hear  - - -  █║▌║║█

Offline madcow

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Re: BTER and snapshot
« Reply #6 on: August 19, 2014, 04:18:18 AM »
Is there any way to withdraw PTS_S from Bter? I asked there support and they said "PTS_S" is just a 'token', but if Bter closed down how would I claim my future shares in new DAC's? I missed withdrawing before feb 22.

Are my PTS forever stuck inside bter now?

Offline xeroc

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Re: BTER and snapshot
« Reply #7 on: August 19, 2014, 06:43:33 AM »
Is there any way to withdraw PTS_S from Bter? I asked there support and they said "PTS_S" is just a 'token', but if Bter closed down how would I claim my future shares in new DAC's? I missed withdrawing before feb 22.

Are my PTS forever stuck inside bter now?

PTS_S is a snapshot of what PTS you HAD over there on 28. of Feb. .. nothing else .. this does not resemble any value anylonger ...
you have received your BTSX initial shares from those PTS_S ... your will NEVER EVER be able to withdraw "pts_S"!

BTER.com could also remove it IMHO
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Offline mf-tzo

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Re: BTER and snapshot
« Reply #8 on: August 19, 2014, 07:10:10 AM »
Quote
but if Bter closed down how would I claim my future shares in new DAC's? I missed withdrawing before feb 22.

Beware of all the exchanges in crypto... I have a feeling that many will close soon (BTC-e, bitstamp). All crypto investors should understand sooner or later that decentralised platforms like bitsharesx is the future.  I suspect that huge drops will happen in bitcoin and all alts due to exchanges defaulting, people who got into crypto to make easy money will lose their money and only the ones that truly believe in decentralization and truly in cryptos will remain..when this happens, bitsharesx will skyrocket but then again we will have bitusd and no one in here will care to convert back to usd...

Do not leave in exchanges what you cannot afford to lose!

Offline onceuponatime

Re: BTER and snapshot
« Reply #9 on: August 19, 2014, 07:22:18 AM »
Quote
but if Bter closed down how would I claim my future shares in new DAC's? I missed withdrawing before feb 22.

Beware of all the exchanges in crypto... I have a feeling that many will close soon (BTC-e, bitstamp). All crypto investors should understand sooner or later that decentralised platforms like bitsharesx is the future.  I suspect that huge drops will happen in bitcoin and all alts due to exchanges defaulting, people who got into crypto to make easy money will lose their money and only the ones that truly believe in decentralization and truly in cryptos will remain..when this happens, bitsharesx will skyrocket but then again we will have bitusd and no one in here will care to convert back to usd...

Do not leave in exchanges what you cannot afford to lose!

What you say is true: don't leave anything of value on exchanges when you are not actually trading. But Madcow was talking about "PTS_S" which, as Xeroc explained above, no longer have any value at all, and should just be deleted by bter.

Offline mf-tzo

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Re: BTER and snapshot
« Reply #10 on: August 19, 2014, 07:28:37 AM »
Quote
What you say is true: don't leave anything of value on exchanges when you are not actually trading. But Madcow was talking about "PTS_S" which, as Xeroc explained above, no longer have any value at all, and should just be deleted by bter.

I know. I just found it a good opportunity to warn people about exchanges in cryptos and just kept writing.. Last couple of days I am thinking to buy some more BTSX and I am afraid to do that because I don't want to put fiat money to any bitcoin exchange... and time is passing, BTSX is rising and by the time I decide to put more money BTSX will have skyrocket...

Does anyone has used bitstamp lately after they changed their bank? Or Kraken? or any reliable exchange I am not aware?

Offline xeroc

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Re: BTER and snapshot
« Reply #11 on: August 19, 2014, 07:35:42 AM »
Actually your concerns are not really necessary .. Each snapshot usually is used just once (except the dual snapshot this week, which could also be interpreted as 2 single snapshots at the same time :) )

Every DAC has a new snapshot on PTS/AGS .. once snapshot is taken and genesis block is released the snapshot PTS on the exchange are worth nothing as probably no future DAC will use an 'old' snapshot to initialize a new genesis ..

Ony - might happen - concern your might have is if a blockchain has to be reseted (for whatever reason) .. then it is the duty of the exchange to also follow the reset ..
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Offline mf-tzo

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Re: BTER and snapshot
« Reply #12 on: August 19, 2014, 07:50:33 AM »
Quote
Actually your concerns are not really necessary .. Each snapshot usually is used just once (except the dual snapshot this week, which could also be interpreted as 2 single snapshots at the same time :) )

Every DAC has a new snapshot on PTS/AGS .. once snapshot is taken and genesis block is released the snapshot PTS on the exchange are worth nothing as probably no future DAC will use an 'old' snapshot to initialize a new genesis ..

Ony - might happen - concern your might have is if a blockchain has to be reseted (for whatever reason) .. then it is the duty of the exchange to also follow the reset ..

Sorry Xeroc but are you talking to me? What concern? my only concern is about bitcoin - fiat exchanges and I am looking for the more reliable out there...I know about the snapshots and about PTS_S on bter and I understand about the blockchain reset but maybe you mean something else with the above that I misunderstand..  ::)

If I keep PTS on bter during the 21 snapshot BTER will honor those shares and if I do not sell them and for whatever reason I keep them in there (I am not that crazy just saying..) BTER will most probably use them to honor the next snapshot as well, correct? Or are you trying to say something else?

I have been awake just a couple of hours so my brain is not working yet...

Offline xeroc

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Re: BTER and snapshot
« Reply #13 on: August 19, 2014, 08:02:39 AM »
I have been awake just a couple of hours so my brain is not working yet...
Same issue here ..

maybe I missunderstood the concerns here .. I think I made everything clear to consider when keeping PTS on an exchage and that the PTS_S (snapshotted PTS) on an exchange are worth nothing (supposedly) after the genesis for the snapshotted DAC is release ..
That's all I wanted to make clear :)
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Offline madcow

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Re: BTER and snapshot
« Reply #14 on: August 20, 2014, 11:25:54 AM »
Thanks for the replies! What I really want to know is if I had withdrawn my PTS from Bter exchange into my own wallet, would those PTS coins be counted in the next snapshot? If that's the case, then I'd be disappointed at Bter not letting me withdraw them, but if they're not, then I'm no worse off than if I'd had them in my own wallet, as Bter did credit me with some BTSX.

I was under the impression that PTS entitled the holder to a stake in ALL future DAC's, and if that's the case I'd be upset if Bter received future 'coins' from my original PTS that they didn't pass on to me. That's why their support response that the 'PTS_S are worthless tokens' confused me. If they're worthless, does that mean pre Feb 28 PTS are worthless to people who had them in their own wallets on the snapshot date?

I love bitshares, but man, it's confusing as hell compared to many other coins (that does make them cool though)!
« Last Edit: August 20, 2014, 11:27:36 AM by madcow »

 

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