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Offline crumb-bum

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Why Announce Snapshot Date?
« on: August 26, 2014, 12:19:36 PM »

Wouldn't it be much more healthy for the price of PTS to take snapshots on a surprise-basis? Because of the tides moving in and out of PTS around snapshot day, I feel like I am being compelled to trade in and out myself, but I'd much rather hold and not worry about PTS.

Online chryspano

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Re: Why Announce Snapshot Date?
« Reply #1 on: August 26, 2014, 12:44:43 PM »
Nope it wouldn't, there would be accusations that "insiders" knew the snapshot dates and profited from that, also people need to know the snapshot dates so they can withdraw from exchanges if they wanted to do so.

Offline Stan

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Re: Why Announce Snapshot Date?
« Reply #2 on: August 26, 2014, 12:46:07 PM »
Wouldn't it be much more healthy for the price of PTS to take snapshots on a surprise-basis? Because of the tides moving in and out of PTS around snapshot day, I feel like I am being compelled to trade in and out myself, but I'd much rather hold and not worry about PTS.

People need the time to position their keys in the wallet, account or exchange where they want to receive their shares.
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Offline crumb-bum

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Re: Why Announce Snapshot Date?
« Reply #3 on: August 26, 2014, 01:05:12 PM »
I disagree. It's just a different paradigm. If people know that the snapshot could happen at any moment, then they will store their PTS in their wallet permanently. I don't see anything unfair in such an arrangement.

Offline emski

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Re: Why Announce Snapshot Date?
« Reply #4 on: August 26, 2014, 01:06:02 PM »
I disagree. It's just a different paradigm. If people know that the snapshot could happen at any moment, then they will store their PTS in their wallet permanently. I don't see anything unfair in such an arrangement.
People need to trade though...

Offline crumb-bum

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Re: Why Announce Snapshot Date?
« Reply #5 on: August 26, 2014, 01:09:09 PM »
I disagree. It's just a different paradigm. If people know that the snapshot could happen at any moment, then they will store their PTS in their wallet permanently. I don't see anything unfair in such an arrangement.
People need to trade though...

:) So let 'em trade. But they should know that they risk missing out on a snapshot. Too funny.

Online chryspano

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Re: Why Announce Snapshot Date?
« Reply #6 on: August 26, 2014, 01:23:56 PM »
I disagree. It's just a different paradigm. If people know that the snapshot could happen at any moment, then they will store their PTS in their wallet permanently. I don't see anything unfair in such an arrangement.

I disagree. If people know that the government would kill smokers , then people will stop smoking and we would all have a better health. I don't see anything unfair in such an arrangement.

Offline crumb-bum

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Re: Why Announce Snapshot Date?
« Reply #7 on: August 26, 2014, 01:43:04 PM »
I disagree. It's just a different paradigm. If people know that the snapshot could happen at any moment, then they will store their PTS in their wallet permanently. I don't see anything unfair in such an arrangement.

I disagree. If people know that the government would kill smokers , then people will stop smoking and we would all have a better health. I don't see anything unfair in such an arrangement.

Do you think that was a fair analogy, Chryspano? :)

Online chryspano

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Re: Why Announce Snapshot Date?
« Reply #8 on: August 26, 2014, 03:42:07 PM »
I think you can get the point, in any case the voice of the market so far is that the price should rise and fall, everyone knows the snapshot day so everyone can sell and buy at any point he thinks its wise, that's what I call fair.

On the other hand you could try to release a new DAC with the snapshot taken "at any moment" as you say, or in other words "whenever it suits you" and see what happens.

Offline crumb-bum

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Re: Why Announce Snapshot Date?
« Reply #9 on: August 26, 2014, 03:50:06 PM »
You are deficient in logic and common courtesy, Chryspano, so I won't bother arguing with you.


Online Chuckone

Re: Why Announce Snapshot Date?
« Reply #10 on: August 28, 2014, 01:35:04 PM »
I understand your point crumb-bum, regarding the fact that there are price swings in PTS price when a snapshot is announced. Yes some of us might be compelled to sell seeing the price rise and the possibility of making a profit.

On the other hand though, people need to know when a snapshot will happen. As it was cited before, the point for insider trading is significant. A lot of people would cry out for injustice and rightly so, knowing that a handful of people knew about the snapshot and have grabbed a whole bunch of cheap PTS just before snapshot. Giving that information out 2-3 weeks in advance gives everybody the same opportunity to do so.

Also, some people might not want to receive shares of one new DAC and prefer to take a reasonable profit on their PTS (selling high just before snapshot, buying low just after). Having it announced in advance make it possible.

There are several long term holders, but there are also several traders that make a profit using the normal price swings. Let's say they just sold a whole bunch before the snapshot without knowing it, they would be really frustrated to know that they missed the snapshot. Those kind of traders wouldn't like to trade PTS if this was the case. And these traders are necessary to have a healthy buy/sell order book and help with the liquidity of the exchanges.

Does my points make sense in your opinion?

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Offline crumb-bum

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Re: Why Announce Snapshot Date?
« Reply #11 on: August 29, 2014, 11:23:30 PM »
Chuckone, thanks for the intelligent reply. Yes, you make sense. I do think that there may be a way to set this up to reward faithful PTS holders while at the same time mitigating the insider-trading. What if the client calculated what percentage of days between releases you were in PTS and rewarded you with a corresponding number of shares in the next DAC?

Offline fluxer555

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Re: Why Announce Snapshot Date?
« Reply #12 on: September 06, 2014, 03:03:33 PM »
I personally love the price discount every time a DAC is released.
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