BitShares Forum
Main => General Discussion => Topic started by: bytemaster on August 21, 2014, 08:21:11 pm
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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.
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Have said purchases already taken place?
Thanks for the openness!
Sent from my SCH-S720C using Tapatalk 2
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+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%
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hardcore
all the moons are aligning
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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.
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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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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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It is a logical decision. I have thought than the idea will come and it is now here. Hopefully it will multiple the funds.
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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.
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Appreciate the transparency greatly and I support wholeheartedly. +5%
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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?
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A big thank you to Adam B Levine too. That's where I first read Dan and Stan's papers.
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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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how many do you plan to buy?
not sure if I like this move but anyway
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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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I'm in total agreement with this. Not that it matters, but I'm really really really in agreement with this.
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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.
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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.
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Additional skin in the game = good
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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!
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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
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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.
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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.
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Appreciate the transparency greatly and I support wholeheartedly. +5%
+5%
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does Invictus plan to buy on the exchanges or from individuals stan, dan, core devs etc?
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The devs probably wont sell ... at least i wouldn't
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On exchanges
Sent from my iPhone using Tapatalk (http://tapatalk.com/m?id=1)
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it‘s a pitty not buy @ less than 0.01usd/bts
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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
+5% +5% +5% +5% +5%
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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 ...
...
+5% +5% +5%
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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.
hi bytemaster.
where did you buy the BTSX? maybe you can consider to do the purchase on btc38. btc38 is very supportive to BTSX. :P :P :D
http://www.btc38.com/trade_en.html?mk_type=btc&btc38_trade_coin_name=btsx
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I suggest you guys keep the movement of funds in BTSX as open and transparent as possible. Way more so than with Bitcoin or Bitshare-PTS. This does make me wonder whether you guys were even confident in the project in the first place. At any rate, the progress and delivery of BTSX is impressive and your credibility, reputation and responsibilities have increased many orders of magnitude.
+5%
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I think using AGS is a great idea. In fact use all AGS!! 8)
Bitcoin you're going down!
But first... Litecoin
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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.
hi bytemaster.
where did you buy the BTSX? maybe you can consider to do the purchase on btc38. btc38 is very supportive to BTSX. :P :P :D
http://www.btc38.com/trade_en.html?mk_type=btc&btc38_trade_coin_name=btsx
+5%
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Was any of the large volume during the price spike over the last day AGS BTC?
If so how much?
I'd like to continue buying, but if the market spike was artificial because I3 was dumping 100's or 1000's into BTSX, there will be a pull back as the market re-aligns.
I don't see a problem wih you buying BTSX. Even if this spike was created by I3. This is probably the best marketing to date.
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Was any of the large volume during the price spike over the last day AGS BTC?
If so how much?
I'd like to continue buying, but if the market spike was artificial because I3 was dumping 100's or 1000's into BTSX, there will be a pull back as the market re-aligns.
I don't see a problem wih you buying BTSX. Even if this spike was created by I3. This is probably the best marketing to date.
About 150 BTC via BTER thus far... Opening BTC38 account now. So this spike was not caused by AGS being used to buy. You can see that most of AGS is still sitting in BTC and we are not selling PTS.
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why don't you made the decision earlier to buy cheaper BTSX? ....
(of course better "late" than never)
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why don't you made the decision earlier to buy cheaper BTSX? ....
(of course better "late" than never)
Liquidity.... we are already heavily invested in BTSX. Right now the development fund has $3 million worth of BTSX in it. Yes we could maximize our gains, but we needed to play more conservative to make sure we had enough funds to see it through.
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Are you also partly in fiat with the AGS fund money? In order to distribute the risk?
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Are you also partly in fiat with the AGS fund money? In order to distribute the risk?
Yes
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I vote that he gets the $'s worth at that time for it.
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Hi Bytemaster
If there was some PTS bounty hasn't been paid at April , how much BTS or Bitusd can I get
now per every PTS if I request to be paid in BTS or Bitusd instead ?
The price of PTS drop nearly half since April,I didn't want to bother you for month since you were really busy on BTS wallet .
My apologies for missing a bounty, please contact Stan with the details. PTS in April was post 28 snapshot. You can choose to take the USD value at the time *or* take the PTS + VOTE + DNS when they are liquid.
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Great decision!
I think AGS funds will do best as a pacemaker at the mountainous beginning.
In the long run it will profit everyone.
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For a myriad of reasons purchasing your own currency with investor money does not seem wise.
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For a myriad of reasons purchasing your own currency with investor money does not seem wise.
There are no investors and it isn't "our currency". If there were investors then this would be the moral equivalent of a "share buy back" which is what any company with cash on its balance sheet should do when their "shares" are undervalued, especially if they can liquidate them in the future.
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For a myriad of reasons purchasing your own currency with investor money does not seem wise.
It shows that i3 actually believe in their own product's long term value. Its great news. +5%
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For a myriad of reasons purchasing your own currency with investor money does not seem wise.
There are no investors and it isn't "our currency". If there were investors then this would be the moral equivalent of a "share buy back" which is what any company with cash on its balance sheet should do when their "shares" are undervalued, especially if they can liquidate them in the future.
And you've gotten sound legal opinion on this approach from a suitable securities attorney? That's a yes or no question.
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For a myriad of reasons purchasing your own currency with investor money does not seem wise.
There are no investors and it isn't "our currency". If there were investors then this would be the moral equivalent of a "share buy back" which is what any company with cash on its balance sheet should do when their "shares" are undervalued, especially if they can liquidate them in the future.
And you've gotten sound legal opinion on this approach from a suitable securities attorney? That's a yes or no question.
Yes
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For a myriad of reasons purchasing your own currency with investor money does not seem wise.
AGS funds are donations given for differing reasons per individual.
However, I suspect many were given for the same reasons as myself - I perceive bitshares to be the most promising tool available, especially in the crypto-space at hastening progress toward a more voluntary and thus, more orderly and diverse society.
Whether hoping your donation has a positive monetary return, a positive liberty return, or both - BTC AGS funds being traded for BTSX is a an awesome signal:
http://www.econtalk.org/archives/2013/09/taleb_on_skin_i.html
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Well this is called dogfooding (http://"http://en.wikipedia.org/wiki/Eating_your_own_dog_food"). :)
Also they are really dumping BTC. It's the smart thing to do, especially if they plan to take over BTC.
I'm all for it. Great decision to also store in BitUSD. Are you hiring? :)
I would actually quit a solid job and take BitUSD. Heck I'd even take BTSX.
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For a myriad of reasons purchasing your own currency with investor money does not seem wise.
There are no investors and it isn't "our currency". If there were investors then this would be the moral equivalent of a "share buy back" which is what any company with cash on its balance sheet should do when their "shares" are undervalued, especially if they can liquidate them in the future.
And you've gotten sound legal opinion on this approach from a suitable securities attorney? That's a yes or no question.
Yes
That's good to know. Thanks.
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I wish my employer paid me in BTSX. I just bought some more during this lull.
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I know AGS funds have been used to purchase BTSX but will you also be moving a portion of your BTC donations as well as your fiat hedge into their BitAsset equivalent?