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Offline FuLl

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How would I do an asset distribution?
« on: September 14, 2014, 01:52:19 AM »

Hi,

I'm starting a new company, and have created & registered an account in the BitSharesX client for it.

I'd like to issue an asset distribution in the form of tokens to be redeemed for services the company provides.

I see on another thread where the lending DAC is detailing how they'd distribute their currency, & I'm using that as a starting point when I'm determining how to distribute mine. Theirs is:
25% PTS
25% AGS
40% Open Market
10% Development

I don't understand PTS & AGS enough to know what it would mean exactly that I'm dedicating 25% of my issuance to these DACs. Does that mean that I'd distribute 25% of my 'NFS' tokens to these shareholders in a bulk distribution upon launch of my token?

My understanding of the 'Development' percentage is that I'd pay developers working on my company's coding todo list in NFS out of the allocated 10% of the NFS issuance. Is that correct?

I understand that the 40% 'Open Market' allocation means that only 40% of my NFS would be available to buy on the open market.

On the subject of the open market, how would people buy & redeem NFS? Would there be a section created in the 'Markets' part of the BitSharesX client where people could do this? I'm planning on integrating a Magento ecommerce backend on my website, & would like to sell NFS via that using the GoCoin plugin & accept BTC & LTC that way.

I imagine customers would have to run a BitSharesX client with which to receive & manage their purchased NFS. ie. holding Magento/GoCoin purchases, & redeeming NFS to my company's wallet in exchange for services. Is this understanding correct?

Please advise.

Thanks,
-F
« Last Edit: September 14, 2014, 02:02:45 AM by FuLl »

Offline tonyk

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Re: How would I do an asset distribution?
« Reply #1 on: September 14, 2014, 01:53:38 AM »
 Why did you change you handle?
...
Lack of arbitrage is the problem, isn't it. And this 'should' solves it.

Offline FuLl

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Re: How would I do an asset distribution?
« Reply #2 on: September 14, 2014, 01:57:28 AM »
Why did you change you handle?
...

What are you referring to? I registered as FuLl originally. Am I misunderstanding what you mean?

Offline tonyk

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Re: How would I do an asset distribution?
« Reply #3 on: September 14, 2014, 02:14:20 AM »
Why did you change you handle?
...

What are you referring to? I registered as FuLl originally. Am I misunderstanding what you mean?

Sorry, Chicken-brain-nes must be more widely spread, than my models suggested...

...I will update the models , if those findings are confirmed...

...In the meanwhile, are you positive you do not have wings and a real good eye site?
Lack of arbitrage is the problem, isn't it. And this 'should' solves it.

Offline FuLl

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Re: How would I do an asset distribution?
« Reply #4 on: September 16, 2014, 02:03:35 AM »
Why did you change you handle?
...

What are you referring to? I registered as FuLl originally. Am I misunderstanding what you mean?

Sorry, Chicken-brain-nes must be more widely spread, than my models suggested...

...I will update the models , if those findings are confirmed...

...In the meanwhile, are you positive you do not have wings and a real good eye site?

I don't get what this guy's all about here.

Would someone kindly help me with my original question, please?

Offline fuzzy

Re: How would I do an asset distribution?
« Reply #5 on: September 16, 2014, 06:44:57 AM »
Hi,

I'm starting a new company, and have created & registered an account in the BitSharesX client for it.

I'd like to issue an asset distribution in the form of tokens to be redeemed for services the company provides.

I see on another thread where the lending DAC is detailing how they'd distribute their currency, & I'm using that as a starting point when I'm determining how to distribute mine. Theirs is:
25% PTS
25% AGS
40% Open Market
10% Development

I don't understand PTS & AGS enough to know what it would mean exactly that I'm dedicating 25% of my issuance to these DACs. Does that mean that I'd distribute 25% of my 'NFS' tokens to these shareholders in a bulk distribution upon launch of my token?

My understanding of the 'Development' percentage is that I'd pay developers working on my company's coding todo list in NFS out of the allocated 10% of the NFS issuance. Is that correct?

I understand that the 40% 'Open Market' allocation means that only 40% of my NFS would be available to buy on the open market.

On the subject of the open market, how would people buy & redeem NFS? Would there be a section created in the 'Markets' part of the BitSharesX client where people could do this? I'm planning on integrating a Magento ecommerce backend on my website, & would like to sell NFS via that using the GoCoin plugin & accept BTC & LTC that way.

I imagine customers would have to run a BitSharesX client with which to receive & manage their purchased NFS. ie. holding Magento/GoCoin purchases, & redeeming NFS to my company's wallet in exchange for services. Is this understanding correct?

Please advise.

Thanks,
-F


Yes.  PTS/AGS/(insert other coin(s) here) Sharedropping is like an email list to a target demographic to whome you believe it will be best to advertise services.  By sharedropping tokens (at launch or at some other predefined date--dictated by you) you are giving a stake in your project to the holders of PTS/AGS and any other coin upon launch because you believe they will offer value to your services' bid for greatness.

Don't mind Tony.  I am not sure if he is messing with you (because he can) or because he is trying to point out something you did and shouldn't have done... he's generally a pretty good (though blunt) chap though.  :)
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Offline FuLl

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Re: How would I do an asset distribution?
« Reply #6 on: September 16, 2014, 06:53:53 AM »
By sharedropping tokens (at launch or at some other predefined date--dictated by you) you are giving a stake in your project to the holders of PTS/AGS and any other coin upon launch because you believe they will offer value to your services' bid for greatness.

What exactly would I have to do to do that? Is there an address each for these 2 tokens where I would send NFS? If so, where would I find them?

or because he is trying to point out something you did and shouldn't have done... he's generally a pretty good (though blunt) chap though.  :)

What did I do that I shouldn't have done? Does he think my username is someone else trying to start a new identity? I'm just a guy new to BitShares, trying to do this right the first time.

Offline svk

Re: How would I do an asset distribution?
« Reply #7 on: September 16, 2014, 11:15:40 AM »
Hello and welcome!

tonyk thinks you're a new account for a user called eagle-eye, not sure why though. As you might've been able to tell he doesn't think very highly of that particular user..

I think what you're looking to do would be better suited for the future DAC Bitshares ME, which will allow users to cheaply issue assets and hopefully automate dividend distribution, and generally be more like a stock exchange. Info is scarce on this one ATM though I'm afraid.

BitsharesX is not well suited for user assets, registration is very expensive and there's no system of automatic distribution,  you could think of it as a decentralized bank that allows you to trade in different currencies (assets).

The PTS/AGS distribution you saw for the lending DAC is for the creation of a new DAC, meaning a whole new blockchain with it's own client, rules etc. In Bitcoin terms, a new DAC is a new altcoin.
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merockstar

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Re: How would I do an asset distribution?
« Reply #8 on: September 16, 2014, 11:37:36 AM »
svk is correct.

you're wanting to use the forthcoming ME dac to issue your stock.

what bitshares X does is lets people issue assets that are pegged to the market value of real world assets. for example, if your company already has stock on a major exchange, you could peg an asset to its market price.

but the functionality you want isn't out yet.

but when it is out, you won't have to honor the social consensus by giving 10% of your stock to AGS holders and 10% to PTS holders, the guy who made ME will have done that. nor will there be developer costs. their will probably be a small fee of some kind when you issue the asset.

Offline toast

Re: How would I do an asset distribution?
« Reply #9 on: September 16, 2014, 01:54:39 PM »
The cost of an asset on BTSX is not actually that much even for a smaller company. At least for now...
Do not use this post as information for making any important decisions. The only agreements I ever make are informal and non-binding. Take the same precautions as when dealing with a compromised account, scammer, sockpuppet, etc.

Offline tonyk

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Lack of arbitrage is the problem, isn't it. And this 'should' solves it.

Offline tonyk

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Re: How would I do an asset distribution?
« Reply #11 on: September 16, 2014, 02:15:56 PM »
The cost of an asset on BTSX is not actually that much even for a smaller company. At least for now...

That depends on your definition of 'not actually that much ', the guy wanted to run a delgate just so his delegate registration fee is not a total loss...

Hi,

I've been talking in another thread about how to set up a delegate node amongst other things, on a VPS running linux.  During that conversation it came up that it might be possible to run a delegate node in Windows. The thread is located here for those interested in having a look:

This is a good thing for me, since I already paid a fee to create my primary BitSharesX account as a delegate account. If I were to have to create a new account to be a delegate & run on the linux box, I will have wasted my money on that delegate fee for my primary account.

Lack of arbitrage is the problem, isn't it. And this 'should' solves it.

 

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