AGS Funds to be used to buy BTSX

[santaclause102]

how many do you plan to buy?
not sure if I like this move but anyway

We don't want to telegraph *that* much... but what ever we feel will make a proper balance of risk/reward.  At least 100 BTC for starters.

I think if you really want to do it properly you should catch volatility instead of driving the price massively up

There is no other way if you what to be able to pay employees in tokens of your own network instead of in your competitor's tokens (bitcoins). And the current price is driven only minorly by I3 I guess. Coinmarketcap says 24h volume is 2011 BTC.

[bytemaster]

how many do you plan to buy?


not sure if I like this move but anyway

We don't want to telegraph *that* much... but what ever we feel will make a proper balance of risk/reward.  At least 100 BTC for starters.

I think if you really want to do it properly you should catch volatility instead of driving the price massively up

Obviously are not in this to manipulate the market, that is never profitable unless you can have side bets.   So we will buy to maximize BTSX.

[nakaone]

how many do you plan to buy?


not sure if I like this move but anyway

We don't want to telegraph *that* much... but what ever we feel will make a proper balance of risk/reward.  At least 100 BTC for starters.

I think if you really want to do it properly you should catch volatility instead of driving the price massively up

[santaclause102]

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?

Some of both.  We will need to quickly revamp our public spreadsheets to improve transparency for assets not clearly visible on old-fashioned block chains.

+5% for the credibility gain through transparency also because Bitshares technology could be used in companies to enhance their transparency... Invictus is meant to be a good role model and show how it could work!

[bobmaloney]

Additional skin in the game = good

[bytemaster]

how many do you plan to buy?


not sure if I like this move but anyway

We don't want to telegraph *that* much... but what ever we feel will make a proper balance of risk/reward.  At least 100 BTC for starters.

[Stan]

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?

Some of both.  We will need to quickly revamp our public spreadsheets to improve transparency for assets not clearly visible on old-fashioned block chains. 

[gamey]

I'm in total agreement with this.  Not that it matters, but I'm really really really in agreement with this. 

[luckybit]

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.

[nakaone]

how many do you plan to buy?


not sure if I like this move but anyway

[liondani]

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

[onceuponatime]

A big thank you to Adam B Levine too. That's where I first read Dan and Stan's papers.

[santaclause102]

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?

[G1ng3rBr34dM4n]

Appreciate the transparency greatly and I support wholeheartedly.   +5%

[donkeypong]

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.