Bitshares Music Presale begins in 2 hours

[ozvic]

You can also monitor donations here: http://www1.agsexplorer.com/

 

Total donated seems about 12 BTC behind. Apart from that, looks good!

https://blockchain.info/address/37X8DHpfiimB7PU5y35rfBcg5Vxj2R6umL

[fluxer555]

Your logic is like, after snapshot, PTS price will go down to zero.

No. All I'm saying is that the value of the difference in price of PTS pre-snapshot and post-snapshot is probably less than the Notes it will give you at some point during the presale, at PTS' current price.

prePTS - postPTS > Notes

If the price of PTS were to drop $1, I'm arguing that I'll be able to get 298.647044 Notes for less than $1 at some point during the pre-sale. The day is not over yet, but currently that many notes is about $0.33. At the price I sold at, as long as there is any day that is under 55 BTC donated, I will have maximized my turnout. If you ask me, there is still plenty of room for people to get out now to do the same..

[Pheonike]

You could just cost average. That's what I did for AGS. I put the same small amount in each day. If that days volume seemed low near the end of day I would add some more based on how much lower it seemed relative to past days.

[CLains]

You can also monitor donations here: http://www1.agsexplorer.com/

 

[roadscape]

You can also monitor donations here: http://www1.agsexplorer.com/

[feedthemcake]

5,000,000 per day for 60 days? I imagine it will run out of steam about 3/4 of the way through and that is when the good deals may happen... maybe.

It seems getting on board for the PTS sale this Friday might be a smarter move.... maybe?

3/4 the way through the original AGS fundraiser was probably the best time to buy in as well but it ramped up again right before the end, that 75% of the way through was a good spot but because this is only 60 days we may not see that same pattern.

[hammyburger]

5,000,000 per day for 60 days? I imagine it will run out of steam about 3/4 of the way through and that is when the good deals may happen... maybe.

It seems getting on board for the PTS sale this Friday might be a smarter move.... maybe?

[CLains]

Edit 1: Right now around 17.4BTC donated today, not that much IMO.

17 BTC times 60 days, approx 1000 BTC around 300k$ to play with. One fifth is available for purchase so total market cap is 5000 BTC on this level, which is around 2 million USD. This is before any marketing, and at the bottom of a BTC depression.

[testz]

Do we have a formula to figure out how many notes per AGS we would receive if we donated to the original AGS fund?

Thanks!

Very simple, total 1.5B notes, AGS total 2M, AGS allocation 35%, 1 AGS = 262,5 notes.

[feedthemcake]

Do we have a formula to figure out how many notes per AGS we would receive if we donated to the original AGS fund?

Thanks!

[Chuckone]

Would it not be sensible to wait until the very end of the day to jump in too?..

Personnally, that's what I'm going to do. I just stated I thought the donation level wasn't so bad for a first day, but I'll wait a little and see how much is "a big day". I'll definitely try to scoop cheap Notes as much as possible and not throw all my money right from the beginning and hope for the best...

[davidpbrown]

Would it not be sensible to wait until the very end of the day to jump in too?..

[Chuckone]

Edit 1: Right now around 17.4BTC donated today, not that much IMO.

I'd like to disagree, that's more than AGS got on many days (in BTC, although that has tanked) and the day is only halfway through.

Yes, but AGS ran for 200 days (instead of 60). My judgment was based on that fact. Combine that to the fact BTS tanked, I don't think it's so bad.

[bitmeat]

Edit 1: Right now around 17.4BTC donated today, not that much IMO.

I'd like to disagree, that's more than AGS got on many days (in BTC, although that has tanked) and the day is only halfway through.

[Chuckone]

Tell me if I´m wrong...

When buying notes on the presale... you don´t know at what price you´re doing your purchase... until the end of the day...

is this right?

If is right... in my case... I don´t want to get into something with so low information about price...

Well, you can look on:

How do we know how many BTC has been used so far to buy Notes per day? is there a website like AGSexplorer ?

Yeah, it's called blockchain.info

https://blockchain.info/address/37X8DHpfiimB7PU5y35rfBcg5Vxj2R6umL

So basically you wait and see what are the donations during the day, and on a day you judge the donation are not too high, you jump in. Not very risky, except maybe if a big donor comes in and put 50 something BTC a few minutes before the end of the day, and smashes all you reward expectation.

But hey, that's auction style.

Edit 1: Right now around 17.4BTC donated today, not that much IMO.

[AdamBLevine]

Tell me if I´m wrong...

When buying notes on the presale... you don´t know at what price you´re doing your purchase... until the end of the day...

is this right?

If is right... in my case... I don´t want to get into something with so low information about price...

Yup, its a different price each day depending on participation - same as Angelshares was.

[forestalnet]

Tell me if I´m wrong...

When buying notes on the presale... you don´t know at what price you´re doing your purchase... until the end of the day...

is this right?

If is right... in my case... I don´t want to get into something with so low information about price...

[bitmeat]

How do we know how many BTC has been used so far to buy Notes per day? is there a website like AGSexplorer ?

Yeah, it's called blockchain.info

https://blockchain.info/address/37X8DHpfiimB7PU5y35rfBcg5Vxj2R6umL

[bobohuy]

How do we know how many BTC has been used so far to buy Notes per day? is there a website like AGSexplorer ?

[bitmeat]

Yup anyone could release a StealAGSCoin DAC.

I am afraid too for this possibility !
I hope they release a "tool" that resolves threats like that before we are witnessing StealAGSCoin victims....

The tool is pretty simple. Don't request private key, only a signature done using the key. So easy a caveman could do it.

[santaclause102]

1 "Day" ends when the hours count is down to 00? I would make that a little more clear (in the faq).

[liondani]

Yup anyone could release a StealAGSCoin DAC.

I am afraid too for this possibility !
I hope they release a "tool" that resolves threats like that before we are witnessing StealAGSCoin victims....

[clayop]

So then the question is, do you make more profit selling now than after the plunge, with ample opportunity to get the same Notes for much much cheaper? I think so. I could be wrong, but I guess we'll find out.

If there are more people thinking like me, I expect the price to plunge pre-snapshot, and then AGAIN post-snapshot... I think it's probable that 1 PTS now  > 1 PTS + 298.647044 Notes after the snapshot.

Imagine that.
1. A PTS owner got a snapshot at 10/10.
2. PTS price drops about $1 after snapshot.
3. Then the owner sell PTS at $2.5
4. He buys Notes with the fund.

Your logic is like, after snapshot, PTS price will go down to zero.

[fluxer555]

So then the question is, do you make more profit selling now than after the plunge, with ample opportunity to get the same Notes for much much cheaper? I think so. I could be wrong, but I guess we'll find out.

If there are more people thinking like me, I expect the price to plunge pre-snapshot, and then AGAIN post-snapshot... I think it's probable that 1 PTS now  > 1 PTS + 298.647044 Notes after the snapshot.

[fluxer555]

Ok, I made an error... PTS holders get 525,000,000 Notes not 450,000,000. So the correct math is:

1 PTS = 298.647044 Notes
Current price of PTS: 0.01176360 BTC
Current price of BTC: $300
$1 worth of PTS = 83.1885916 Notes

Therefore, each day between now and the snapshot, there needs to be over $60k in BTC donations to justify holding PTS rather than selling it for BTC and purchasing via presale.

5,000,000 Notes / $60,104.3954 = 83.1885916

[clayop]

$1 of PTS price drop after snapshot =  255.993374 Notes

I've been trying to make sense of this, but am unable.

The total number of PTS I took from CoinMarketCap: 1,757,928. (It's already a little different than when I calculated before)

450,000,000 Notes are distributed to PTS holders.

450,000,000 / 1,757,928 = 255.98318 Notes per PTS

But after snapshot, you can sell PTS and make profit. That's what you overlook.

[天籁]

$1 of PTS price drop after snapshot =  255.993374 Notes

I've been trying to make sense of this, but am unable.

The total number of PTS I took from CoinMarketCap: 1,757,928. (It's already a little different than when I calculated before)

450,000,000 Notes are distributed to PTS holders.

450,000,000 / 1,757,928 = 255.98318 Notes per PTS

255.98318 Notes per PTS is not equal to that the value of 1PTS = 255.98318 Notes.
1PTS before snapshot = 1PTS after snapshot +  255.98318 Notes.

[fluxer555]

$1 of PTS price drop after snapshot =  255.993374 Notes

I've been trying to make sense of this, but am unable.

The total number of PTS I took from CoinMarketCap: 1,757,928. (It's already a little different than when I calculated before)

450,000,000 Notes are distributed to PTS holders.

450,000,000 / 1,757,928 = 255.98318 Notes per PTS

[天籁]

If my calculations are correct, this pre-sale should tank the price of PTS... just sold everything.

1 PTS = 255.993374 Notes
Current price of PTS: 0.01176360 BTC
Current price of BTC: $300
$1 worth of PTS = 71.307346 Notes

Therefore, each day between now and the snapshot, there needs to be over $70k in BTC donations to justify holding PTS rather than selling it for BTC and purchasing via presale.

5,000,000 Notes / $70,126.2272 = 71.3

Someone tell me I'm wrong?

Absolutely wrong!
$1 of PTS price drop after snapshot =  255.993374 Notes

[fluxer555]

no you are not, but the PTS snapshot will and in 4 days.

This was bad timing, very sloppy in my opinion. They should have waited until after the snapshot.

[Shentist]

If my calculations are correct, this pre-sale should tank the price of PTS... just sold everything.

1 PTS = 255.993374 Notes
$1 worth of PTS = 71.307346 Notes

Therefore, each day between now and the snapshot, there needs to be over $70k in BTC donations to justify holding PTS rather than selling it for BTC and purchasing via presale.

5,000,000 Notes / $70,126.2272 = 71.3

Someone tell me I'm wrong?

no you are not, but the PTS snapshot will and in 4 days.

[bitmarket]

Why not also take a snapshot of say bitcoin and give them 5% of the notes - it'd be like buying your customers by enticing them with a small amount of coins.. enough to get them to learn how bitshares works.

I love the idea, but you would need to be careful, they dont just liquidate and crash the price.  Not sure how to protect against that.

[fluxer555]

If my calculations are correct, this pre-sale should tank the price of PTS... just sold everything.

1 PTS = 255.993374 Notes
Current price of PTS: 0.01176360 BTC
Current price of BTC: $300
$1 worth of PTS = 71.307346 Notes

Therefore, each day between now and the snapshot, there needs to be over $70k in BTC donations to justify holding PTS rather than selling it for BTC and purchasing via presale.

5,000,000 Notes / $70,126.2272 = 71.3

Someone tell me I'm wrong?

[BTSdac]

The people that sent btc before the official start will be counted in the first pool. No need to panic (:

support btsx ／bitusd？

[Cryptofreakoutlaw31]

I think it's better if @cob adds a warning message, say "Do not sent BTC from exchanges or web wallet which does not support private key export (e.g. Coinbase)" This will reduce a lot of confuse and drudgery work.

I do have a Coinbase online wallet but I also have a blockchain.info online wallet as well as a personal software bitcoin wallet.  I did not use any BTC from my personal bitcoin wallet on my computer because I am using that wallet to save up BTC that I earn from the bitcoin faucets on the intetnet, however, I had some BTC from my Blockchain online wallet and I sent some BTC from that wallet to the NOTES presale BTC address from my Blockchain.info online bitcoin wallet.  It was not much.  Only 10,000 satoshi. 

[bitmeat]

Yup anyone could release a StealAGSCoin DAC.

[fuzzy]

We should absolutely demand that new DACs do NOT require our private keys, but instead require a signature.

That solves the problem of "sent from Coinbase" as well. Duh!

Just have genesis claim it based on signature. Sign "Notes" with the private key for the key in the genesis block.

It also solves a lot of the problems that keep me from actually accessing my shares.  I don't have a high enough risk tolerance to do otherwise.

[bitmeat]

We should absolutely demand that new DACs do NOT require our private keys, but instead require a signature.

That solves the problem of "sent from Coinbase" as well. Duh!

Just have genesis claim it based on signature. Sign "Notes" with the private key for the key in the genesis block.

[Mysto]

check out FAQ

it is mentioned there …

Make sure you send your bitcoins from your own personal wallet which you control the private key. If you send from an exchange’s wallet, at launch, the issuer of Notes will think the exchange bought Notes, not you. Make sure you keep your wallet secure and well backed up too! Do not lose your wallet or you will lose your Notes. This is a blockchain, there are no central authorities to go to to retrieve lost funds.

plus coinbase (ppl often ignore faqs. That's why I ask to put warnings on the main page)

If I didn't read this I would have never known

[bitmeat]

What if someone sends from a multisig address? Will those work? (Not that I'm planning on doing anything like that just curious)

[clayop]

The people that sent btc before the official start will be counted in the first pool. No need to panic (:

He may need address substitution because he sent fund from exchange
Or alternatively, you can send back it to his address (I will tell you via pm) and he will send again.

[cob]

The people that sent btc before the official start will be counted in the first pool. No need to panic (:

[clayop]

check out FAQ

it is mentioned there …

Make sure you send your bitcoins from your own personal wallet which you control the private key. If you send from an exchange’s wallet, at launch, the issuer of Notes will think the exchange bought Notes, not you. Make sure you keep your wallet secure and well backed up too! Do not lose your wallet or you will lose your Notes. This is a blockchain, there are no central authorities to go to to retrieve lost funds.

plus coinbase (ppl often ignore faqs. That's why I ask to put warnings on the main page)

[clayop]

OMG... a person in Korean community already sent some btc to the presale address. Can he get refunded? If so, I will let you(cob) know his address. (because he sent from an exchange)

[cass]

check out FAQ

it is mentioned there …

Make sure you send your bitcoins from your own personal wallet which you control the private key. If you send from an exchange’s wallet, at launch, the issuer of Notes will think the exchange bought Notes, not you. Make sure you keep your wallet secure and well backed up too! Do not lose your wallet or you will lose your Notes. This is a blockchain, there are no central authorities to go to to retrieve lost funds.

[clayop]

I think it's better if @cob adds a warning message, say "Do not sent BTC from exchanges or web wallet which does not support private key export (e.g. Coinbase)" This will reduce a lot of confuse and drudgery work.

[donkeypong]

Very good.

[cryptillionaire]

Why not also take a snapshot of say bitcoin and give them 5% of the notes - it'd be like buying your customers by enticing them with a small amount of coins.. enough to get them to learn how bitshares works.

[cass]

nice

[feedthemcake]

Surprise!

http://www.bitsharesmusicfoundation.org/

(Did somebody tell about it already?)

 

 

[clayop]

Surprise!

http://www.bitsharesmusicfoundation.org/

(Did somebody tell about it already?)