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Offline bytemaster

AGS Funds to be used to buy BTSX
« on: August 21, 2014, 08:21:11 PM »

Recognizing that over the course of the next 6 months the value of BTSX will likely rise relative to BTC, we have made the strategic decision to buy BTSX and hold it and to pay developers in BTSX / BitUSD.    We will keep enough BTC to stay liquid, but otherwise will keep our portfolio balanced to maximize our potential development funds.   

This is just a FYI for transparency sake, as we stated before the AGS funds were received as donations with no strings attached. 

Details of these holdings will be posted.
« Last Edit: August 21, 2014, 08:22:50 PM by bytemaster »
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Anything said on these forums does not constitute an intent to create a legal obligation or contract between myself and anyone else.   These are merely my opinions and I reserve the right to change them at any time.

Offline biophil

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Re: AGS Funds to be used to buy BTSX
« Reply #1 on: August 21, 2014, 08:22:38 PM »
Have said purchases already taken place?

Thanks for the openness!

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Offline tonyk

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Re: AGS Funds to be used to buy BTSX
« Reply #2 on: August 21, 2014, 08:23:07 PM »
 +5% +5% +5%

I already suggested that this should be done! https://bitsharestalk.org/index.php?topic=7003.msg94094#msg94094


Also

to pay developers in  BitUSD.   

 +5%
« Last Edit: August 21, 2014, 08:29:18 PM by TheOnion »
Lack of arbitrage is the problem, isn't it. And this 'should' solves it.


Offline bytemaster

Re: AGS Funds to be used to buy BTSX
« Reply #4 on: August 21, 2014, 08:24:23 PM »
Have said purchases already taken place?

Thanks for the openness!

Sent from my SCH-S720C using Tapatalk 2

Only small purchases thus far.  Not really in our best interest to telegraph this, but I believe the value of transparency will do more for us in the long run than any profits we could have earned by keeping it secret. 
For the latest updates checkout my blog: http://bytemaster.bitshares.org
Anything said on these forums does not constitute an intent to create a legal obligation or contract between myself and anyone else.   These are merely my opinions and I reserve the right to change them at any time.

Offline luckybit

Re: AGS Funds to be used to buy BTSX
« Reply #5 on: August 21, 2014, 08:26:58 PM »
Recognizing that over the course of the next 6 months the value of BTSX will likely rise relative to BTC, we have made the strategic decision to buy BTSX and hold it and to pay developers in BTSX / BitUSD.    We will keep enough BTC to stay liquid, but otherwise will keep our portfolio balanced to maximize our potential development funds.   

This is just a FYI for transparency sake, as we stated before the AGS funds were received as donations with no strings attached. 

Details of these holdings will be posted.
+5%
This is an very astute decision which inspires confidence and makes sense. Why keep it in BTC which is way more volatile when you can keep it in BitUSD?

We should encourage others to do similar and to pay out in BitUSD.
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Offline xeroc

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Re: AGS Funds to be used to buy BTSX
« Reply #6 on: August 21, 2014, 08:31:03 PM »
Only small purchases thus far.  Not really in our best interest to telegraph this, but I believe the value of transparency will do more for us in the long run than any profits we could have earned by keeping it secret.
I really .. really .. really like the openness in I3. +5%

This is what makes bitshares different from those altcoin - short term profit - premine sh*** we all know pretty well
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Offline valtr

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Re: AGS Funds to be used to buy BTSX
« Reply #7 on: August 21, 2014, 08:31:50 PM »
It is a logical decision.  I have thought than the idea will come and it is now here. Hopefully it will multiple the funds.

Offline donkeypong

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Re: AGS Funds to be used to buy BTSX
« Reply #8 on: August 21, 2014, 08:33:36 PM »

I really .. really .. really like the openness in I3. +5%

This is what makes bitshares different from those altcoin - short term profit - premine sh*** we all know pretty well

I agree. It's one of the reasons I've stuck around. These folks have earned our trust indeed.

Offline G1ng3rBr34dM4n

Re: AGS Funds to be used to buy BTSX
« Reply #9 on: August 21, 2014, 08:36:58 PM »
Appreciate the transparency greatly and I support wholeheartedly.   +5%

Offline santaclause102

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Re: AGS Funds to be used to buy BTSX
« Reply #10 on: August 21, 2014, 08:41:21 PM »
Recognizing that over the course of the next 6 months the value of BTSX will likely rise relative to BTC, we have made the strategic decision to buy BTSX and hold it and to pay developers in BTSX / BitUSD.    We will keep enough BTC to stay liquid, but otherwise will keep our portfolio balanced to maximize our potential development funds.   

This is just a FYI for transparency sake, as we stated before the AGS funds were received as donations with no strings attached. 

Details of these holdings will be posted.
Will it be made public much was BTC was traded for BTS X? Is that anyway visible on the blockchain yet? I think not directly as we can just see how much was moved into exchanges. It did that happen OTC?

Offline onceuponatime

Re: AGS Funds to be used to buy BTSX
« Reply #11 on: August 21, 2014, 08:42:09 PM »
A big thank you to Adam B Levine too. That's where I first read Dan and Stan's papers.

Offline liondani

Re: AGS Funds to be used to buy BTSX
« Reply #12 on: August 21, 2014, 08:43:20 PM »
That means they are 101%  confident that the market-peg will hold and they put now even "collateral" behind the optimistic statements they made in past...  :D
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Offline nakaone

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Re: AGS Funds to be used to buy BTSX
« Reply #13 on: August 21, 2014, 08:46:09 PM »
how many do you plan to buy?


not sure if I like this move but anyway

Offline luckybit

Re: AGS Funds to be used to buy BTSX
« Reply #14 on: August 21, 2014, 08:47:18 PM »
how many do you plan to buy?


not sure if I like this move but anyway

The alternative is Bitcoin which is volatile, or cash which only ever trends down.
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