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Offline bitcoinnoisseur

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SNAPSHOT QUESTIONS
« on: August 21, 2014, 05:44:14 PM »

Please bear with me as I have extremely limited access to a computer. (Please don't ask why)

I had someone move my PTS to a wallet they created for me before the Feb snapshot. I have yet to move them to the new BTSX wallet.
I need to know a few things as tomorrow I will have access to that wallet.

1 - Do I install the new BTSX wallet, send my PTS to it to get my BTSX and then send my PTS back to the old wallet after the snapshot today?

2 - Is that the process for getting each new DAC shares? (Keep PTS in PTS wallet until snapshot, move to new DAC wallet to collect new DAC shares; move PTS back to PTS wallet awaiting new DAC snapshot).

3 - Is the BTSX/PTS roughly: PTS * 1.28 * 500?

Offline mf-tzo

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Re: SNAPSHOT QUESTIONS
« Reply #1 on: August 21, 2014, 05:51:11 PM »
Quote
1 - Do I install the new BTSX wallet, send my PTS to it to get my BTSX and then send my PTS back to the old wallet after the snapshot today?

You install the new BTSX wallet and import the PTS wallet in there to get your BTSX. (Someone else can give you more details how to do that as I haven't done that and I am not going to before we get to at least 300 mil market cap)

As long as you do not sell your PTS to an exchange your PTS remain in your wallet.dat file so you can claim with that file the shares from future DACs

Quote
3 - Is the BTSX/PTS roughly: PTS * 1.28 * 500?

Yes

Offline bitcoinnoisseur

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Re: SNAPSHOT QUESTIONS
« Reply #2 on: August 21, 2014, 06:09:07 PM »
Thank you but I'm confused.

1 - Why wouldn't you or anyone import their PTS wallet into a new BTSX wallet? The object is to have control of BTSX AND PTS. Then send your PTS back to the original PTS wallet and have 2 wallets. 1 for PTS and 1 for BTSX.

2 - You're waiting for what to get to a 300 Million market cap? PTS, BTSX, both combined?

Offline mf-tzo

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Re: SNAPSHOT QUESTIONS
« Reply #3 on: August 21, 2014, 08:04:42 PM »
Quote
1 - Why wouldn't you or anyone import their PTS wallet into a new BTSX wallet? The object is to have control of BTSX AND PTS. Then send your PTS back to the original PTS wallet and have 2 wallets. 1 for PTS and 1 for BTSX.

I don't import yet because I keep my PTS wallet offline and I do not intend to sell anything yet.. The normal thing to do is what you are describing.. I am not normal and I have different expectations...

Quote
2 - You're waiting for what to get to a 300 Million market cap? PTS, BTSX, both combined?

BTSX alone. And  within 2015 to overtake bitcoin...Again this is just me and I may be way optimistic but the difference is made when dreams come true.. Again this might not be the normal thing to do. Do as you think more wisely..

Offline aftw

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Re: SNAPSHOT QUESTIONS
« Reply #4 on: August 22, 2014, 12:17:38 AM »
What happens if I have PTS in my wallet for the snapshot but sell it before either of the new DACs launch? How do I get the shares due me?
« Last Edit: August 22, 2014, 12:19:38 AM by aftw »

Offline tonyk

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Re: SNAPSHOT QUESTIONS
« Reply #5 on: August 22, 2014, 12:20:26 AM »
What happens if I have PTS in my wallet for the snapshot but sell it before either of the new DACs launch? How do I get the shares due me?

You are good. Just buy them back anytime before the next snapshot.
Lack of arbitrage is the problem, isn't it. And this 'should' solves it.

Offline onceuponatime

Re: SNAPSHOT QUESTIONS
« Reply #6 on: August 22, 2014, 12:31:21 AM »
What happens if I have PTS in my wallet for the snapshot but sell it before either of the new DACs launch? How do I get the shares due me?

You are good. Just buy them back anytime before the next snapshot.

That's bullshit! You don't have to buy them back. The new DAC shares go to the owner of the PTS at the snapshot.

Offline DavefromPhilly

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Re: SNAPSHOT QUESTIONS
« Reply #7 on: August 22, 2014, 12:45:06 AM »
@onceuponatime -  I think he means like by them back if you want part in the next DAC that comes up. Not for this one. Atleast I hope that's what he means.

Offline onceuponatime

Re: SNAPSHOT QUESTIONS
« Reply #8 on: August 22, 2014, 01:49:47 AM »
@onceuponatime -  I think he means like by them back if you want part in the next DAC that comes up. Not for this one. Atleast I hope that's what he means.

Yes, that is what TheOnion means, but aftw was asking "if I have PTS in my wallet for the snapshot but sell it before either of the new DACs launch?"

They are talking at cross-purposes.

Offline tonyk

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Re: SNAPSHOT QUESTIONS
« Reply #9 on: August 22, 2014, 01:53:29 AM »
@onceuponatime -  I think he means like by them back if you want part in the next DAC that comes up. Not for this one. Atleast I hope that's what he means.

Yes!  Reading it again it is not the most clear statement. :(
« Last Edit: August 22, 2014, 01:55:25 AM by TheOnion »
Lack of arbitrage is the problem, isn't it. And this 'should' solves it.

Offline sandpaper

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Re: SNAPSHOT QUESTIONS
« Reply #10 on: August 22, 2014, 01:58:50 AM »
So it is safe to sell off your PTS that was saved for the August 21st snapshot?

If you want in for the next snapshot (whenever that may be) you must buy PTS before the date and hold it in your wallet?

I believe those are the two correct answers

Offline onceuponatime

Re: SNAPSHOT QUESTIONS
« Reply #11 on: August 22, 2014, 02:14:19 AM »
So it is safe to sell off your PTS that was saved for the August 21st snapshot?

If you want in for the next snapshot (whenever that may be) you must buy PTS before the date and hold it in your wallet?

I believe those are the two correct answers

I believe that to be correct.

There may be more snapshots coming soon. A lot of people are excited about BitShares Music, and Hackfisher's Gaming DAC.

Thus there is a chance that PTS are at their cheapest right now (ie. not a good time to sell if you are intending to buy back before the next snapshot).

But then again, maybe you want to use the funds to buy btsx. Gets complicated, doesn't it?

Offline aftw

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Re: SNAPSHOT QUESTIONS
« Reply #12 on: August 22, 2014, 02:45:47 PM »
Thanks for the replies. I haven't been through the process so trying to understand. No plans to sell my PTS but want to understand the implications if I did.

If I no longer have PTS in my wallet after the snapshot how do I import my wallet to get shares in new DACs? Is there plans for shares in new DACs to be automated for PTS/AGS snapshot holders?

Offline Reiner

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Re: SNAPSHOT QUESTIONS
« Reply #13 on: August 22, 2014, 05:29:58 PM »
For me it is new, that i can change my pts to btsx with this role: PTS * 1.28 * 500?
Is it always the same (PTS * 1.28 * 500)? No matter how high the price of btsx is?
I do not understand. When. Also now?
1 Pts /CNY (bter.com) costs 18.8 CNY
1 btsx/CNY costs 0.1712 cny
So if the would change 1 pts with that role pts*1,28*500=640 btsx it would mean:
i pay for 1 pts 18.8 cny and get 640*1 btsx and can it sell for 640*0.1712 cny =  109,568 cny ??
All people would buy pts to change it to btsx
dont understand
The market cap for btsx is now http://coinmarketcap.com/ at 56,501,394 (btc has 6,847,999,524)
If the market cap for btsx would be at 300 000 000 so what does it mean ... is the price higher than now 6 times higher then now? That would mean : PTS * 1.28 * 500 *  6!
« Last Edit: August 22, 2014, 05:37:40 PM by Reiner »

Offline xeroc

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Re: SNAPSHOT QUESTIONS
« Reply #14 on: August 22, 2014, 05:36:41 PM »
For me it is new, that i can change my pts to btsx with this role: PTS * 1.28 * 500?
Is it always the same (PTS * 1.28 * 500)? No matter how high the price of btsx is?
I do not understand. When. Also now?
1 Pts /CNY (bter.com) costs 18.8 CNY
1 btsx/CNY costs 0.1712 cny
So if the would change 1 pts with that role pts*1,28*500=640 btsx it would mean:
i pay for 1 pts 18.8 cny and get 640*1 btsx and can it sell for 640*0.1712 cny =  109,568 cny ??
All people would buy pts to change it to btsx
dont understand
The market cap for btsx is now http://coinmarketcap.com/ at 56,501,394 (btc has 6,847,999,524)
If the market cap for btsx would be at 300 000 000 so what does it mean ... is the price higher than now 6 times higher then now?
Please read through this:
http://wiki.bitshares.org/index.php/BitShares_PTS

you are fixing some things up!
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