"No need for SEPA transfers and the delay of 2-5 days to buy Bitcoins, Peercoins or NXT!"

How about Bitshares and bitUSD?

They have a market for BTSX/EUR, but it's a little thin at the moment: https://www.ccedk.com/btsx-eur

Why do you think this is a problem here but not in the general market mechanism? If I want to buy bitUSD, I only need to offer a tiny fraction of a BTS more than the last guy and that puts me on top of the order book. Why do you think interest rates offered should be different?

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My best judgement says that rather than scaling up non-dev funds and using all of I3 to give a pre-proposal bonus, I'd like to use the unspent claimed portion to pay pre-DNS holders (about 150mn DNS).

* Pre-proposal DNS sharedrop would about 3.5x as much - some of this would go in lump sums to exchanges to do a best-effort
* Post-proposal DNS sharedrop (BTS long-term discounter buyers) would get about 2% less ("diluted" to ~4.20 up from 4.05)
* In all cases, DNS dev stake and PaNGEL still wouldn't end up with any BTS from DNS.

https://github.com/BitShares/bitshares/commit/6521a11d60c04c80665767a97633a06c0afb292a

The percentages are possibly misleading because you're saying 3.5x of a small amount is paid for by 2% of a large amount. What are the actual numbers of shares here? I'm not waving pitchforks, just trying to get an accurate picture of your proposal.

Disclosure: your proposal benefits me significantly.

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Quote from: biophil on November 07, 2014, 12:22:18 am

 since PTS miners still haven't produced a block since before the snapshot.

That's not correct. Three blocks were mined yesterday, and today has already seen two. The network is *very* slow, but it's not dead.

When I posted that, it had been something like 14 hours since the last block. I'm glad to see the network is actually still running!

NXT assets are different though, because they have an internal market.

No, UIA are the same in BTS as Nxt assets. There are a couple mechanical differences that I know of:

1) You can issue new shares in a UIA; a Nxt asset is set in stone forever
2) You can trade any UIA with any UIA (this is how Counterparty works as well); on Nxt you can only trade an asset with Nxt.

biophil, my understanding was that a premium (I seem to remember 10%) was being paid for the PTS shares due to being locked up. Your understanding is that was priced into the % sharedropped?

So do I have this right... if I had 730 PTS at snapshot and 1 PTS = 100 BTSX, I would receive 3,000 BTS after one month and 73,000 BTS after 2 years? No lockup premium would be due either monthly or after the full two-year term?

That's right. 1 PTS is about 100 BTS, and PTS were trading anywhere from 85x to 120x the price of BTSX. So at best, the lockup premium was 15%, and at worst, around negative 20%. But you have to take into account that the same exact PTS snapshot will be used for BitShares Play and whatever replaces PTS, and whatever other projects decide to use this snapshot. So the value of 1 PTS on the snapshot included 100 locked-up BTS, some number of PLAYs, and some number of future PTSs. We knew the price of BTS ahead of time, but we have no idea how to price either PLAY or future PTS.

So the reality is that we don't really know how to calculate the lockup premium. 10% was calculated when PTS was trading at 90x the price of BTSX, and people were assuming that the only value PTS contained was that of BTS. Eventually it became clear that the market was pricing in a bunch of other things.

This was my long-winded answer to say "yes, the premium was priced in, not hard-coded."

Brilliant, I like the sound of that!

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