Nice summary, sounds good to me! How do we move forward with this? Do BTSX holders need to vote for delegates who support this or is it all just being done via Bytemaster power somehow?
+5% Well done that was good summary!
As far as BitShares goes it is clearly the best solution. I fully support creating one BitShares as fast as is responsibly possible.
The metamorphosis of PTS:
Stan (https://bitsharestalk.org/index.php?topic=10104.msg132083#msg132083): The rules are that snapshots give two week's notice. So if someone decides to do this, you've got several whole days left to make the announcement if you want to hit the Nov 5th anniversary date.
We market it as a 1-year anniversary celebration/evolution/metamorphosis/death.
We will convert the remaining value of PST+AGS to BTSX through dilution.
We announce the death of PTS/AGS and introduce BitSharesNoX.
Perfect grassroots campaign. I can smell the upvotes.
It will be fair but not 100% fair. Who cares. PTS is Chucky Cheese currency.
I'll gladly redeem it for any BTSX, and rid my hands of it once and for all.
And 3i has more skin in the game than any of us.
We have just over 24 hours to take this opportunity. Been looking for a way to get involved?
(http://gifcountdown.com/europe-london/1413936000/ffffff/ffffff/ffffff/333333/ffffff/false/counter.gif)
Let's start moving BTS over to the launch site.
im new to bitshares and i have so much trouble understanding all the different acronyms that it makes me frustrated.
Excellent summary! Here's my rally call.
Nice summary, sounds good to me! How do we move forward with this? Do BTSX holders need to vote for delegates who support this or is it all just being done via Bytemaster power somehow?
I am not sure. I think we should have a very clearly defined proposal, based on general community consensus, that includes exact share numbers for each party, and then we should have a community vote.
Based on the market action, it seems that most of those who would be opposed to this have simply dumped all their BTSX already, and that those who held are generally in favor.
Excellent summary! Here's my rally call.
48 hours is way too fast. At the very least we need to go for the november target that bytemaster first proposed for closing PTS (the 1 year anniversary of PTS).
The market cap may not even retain $50M... if merged in pts/ags members may sell and also btsx may sell snowballing a marketcap way lower than it started with.
Will future DACs be snapshoted from BTS? If so, will you have cases where it will be pumped and dumped as new snapshots occur?
The market cap may not even retain $50M... if merged in pts/ags members may sell and also btsx may sell snowballing a marketcap way lower than it started with.
Will future DACs be snapshoted from BTS? If so, will you have cases where it will be pumped and dumped as new snapshots occur?
Maybe if one BTS snapshot is taken a the start and distibuted to BTS holders and then traded somehow as an unpegged bitasset on BTS? So as not to rock the BTS price unnecessarily.
Will future DACs be snapshoted from BTS? If so, will you have cases where it will be pumped and dumped as new snapshots occur?
Will future DACs be snapshoted from BTS? If so, will you have cases where it will be pumped and dumped as new snapshots occur?
I don't think PTS pumps since Feb/Mar have been more than a few million USD.
Would not be a huge impact on BTSX. Risk will lessen as the market cap grows.
I don't think it should be used for the marketing campaign because marketing hasn't been successfully accomplished by anyone in the industry. Even Bitcoin failed at marketing so far.
But I have some questions which maybe some people can answer:
1) Is it possible to launch a new AGS like campaign for people who missed the Feb 28th deadline and set it up so that whoever donates to this AGS campaign will receive BTSX via the dilution but that the vesting period requires they cannot utilize these shares until 2016 when the Bitcoin block reward halves? This way they cannot dump or mess things up for the original group of investors who met the deadline, also it rewards people who donated early.
2) Can there be a proposal and a vote? I don't think many shareholders will agree on spending millions of dollars on marketing when marketing hasn't been successful. Let the shareholders decide on where to direct the resources.
I think if they do this and get it wrong it's going to wreak havoc on the market. I don't think shareholders will accept dilution for marketing. I do think shareholders would accept it if there was some sort way to track the success of things but how do you track that?
Bytemaster says the raising capital when the market is going down is a solid plan as long as the capital is put toward good purposes? What good purposes is that? Marketing seems like it would be a waste of money based on what information we currently have.
Will future DACs be snapshoted from BTS? If so, will you have cases where it will be pumped and dumped as new snapshots occur?
I don't think PTS pumps since Feb/Mar have been more than a few million USD.
Would not be a huge impact on BTSX. Risk will lessen as the market cap grows.
Will future DACs be snapshoted from BTS? If so, will you have cases where it will be pumped and dumped as new snapshots occur?
I don't think PTS pumps since Feb/Mar have been more than a few million USD.
Would not be a huge impact on BTSX. Risk will lessen as the market cap grows.
I think that angel investing should have its own assets because it doesn't bring anything technical into the fold... while things like VOTE/DNS do so they should be merged into BTSX... you shouldnt mix the two.. and it is a creation of a simply unpegged asset of bitProtoAngel that merges in AGS/PTS with no capital infusion properties.. while technical implementations or imporvements would go into BTS.. thus you move new technologies into one DAC.
Will future DACs be snapshoted from BTS? If so, will you have cases where it will be pumped and dumped as new snapshots occur?
I don't think PTS pumps since Feb/Mar have been more than a few million USD.
Would not be a huge impact on BTSX. Risk will lessen as the market cap grows.
I think that angel investing should have its own assets because it doesn't bring anything technical into the fold... while things like VOTE/DNS do so they should be merged into BTSX... you shouldnt mix the two.. and it is a creation of a simply unpegged asset of bitProtoAngel that merges in AGS/PTS with no capital infusion properties.. while technical implementations or imporvements would go into BTS.. thus you move new technologies into one DAC.
And who paid for the 'technical implementations or improvements' if not AGS?
From what I've read, wouldn't the distribution be unfair because of pre/post 28 February. On top of that, won't the snapshots affect BitsharesX price? Given that, shouldn't we merge PTS with AGS into GENESIS and just turn BitsharesX into Bitshares?
Great summary +5%
Just one thing should be corrected.
50mil BTSX vs 10mil PTS+AGS is not 80:20 (actually it's 83:17). 50mil:12.5mil or 48mil:12mil is 80:20.
Any official announcement if Vote and DNS accepted the merger ?
Based on the market action, it seems that most of those who would be opposed to this have simply dumped all their BTSX already, and that those who held are generally in favor.
Based on the market action, it seems that most of those who would be opposed to this have simply dumped all their BTSX already, and that those who held are generally in favor.
Ridiculous assumption.
Based on the market action, it seems that most of those who would be opposed to this have simply dumped all their BTSX already, and that those who held are generally in favor.
Ridiculous assumption.
Okay. Some of those that were opposed dumped.
start to stink,get out soon as u can
3) Capital infusion to fund marketing efforts is solved by allowing for a majority vote of BTS holders to vote to create and sell shares for funding purposes, which would then be used to grow Bitshares much faster than it could otherwise have developed (hopefully).
If the community believes that the secondary offering of new shares is in its interest, it would vote in favor. If the community believes that the dilution is not worth the benefits, they will vote against it.
I think the point is it's bad to manipulate the value of people's assets through some 'proposal', no matter how great the proposals look like. What's the difference from gov?
Prices plunged, damages done. The whole drama is hurting people. I believe BM was not intended, but still, hurting. Please stop.
Someone has to make that value judgement.
Who is more qualified?
:)
10% for AGS and 10% for PTS ?
Don't you remember what happened when COB wanted to give us 10% for bitshares-music?
The majority was not satisfied and guess what? It changed to 35% each...
How much % gave freetrade for lotto shares? (doesn't matter it was not successful)
How much for DNS?
So why are you all happy right now with 10% ????
Not to mention that the $5 milion marketcap of PTS don't reflects the real value of AGS/PTS in my opinion ...
as I explained here https://bitsharestalk.org/index.php?topic=10181.msg134374#msg134374
PS I am positive for the merge to happen but I think right now it's not fair for both PTS and AGS holders/donators... Maybe and I hope I am wrong...
After all 10% was the minimum, why not get with the maximum % or at least with a percenatge between... I thought bytemaster would suggest to give the max support to AGS/PTS holders/donators since he is the only one (maybe) that knows exactly how important it was to get a dream to a reality because of the early supporters.
So this is all very confusing to me. Will it be more beneficial for me to hold PTS or to convert it all into BitsharesX based on this allocation? I don't have a ton of PTS so I am not too worried about it but I don't fully understand how this allocation is going to pan out.
It's a pity I didn't receive any newsletter about such an important event, does anybody know if there is any weekly or biweekly newsletter about BitShares?there's only a very irregular newsletter released by I3/BitShares/Stan
:-[It's a pity I didn't receive any newsletter about such an important event, does anybody know if there is any weekly or biweekly newsletter about BitShares?there's only a very irregular newsletter released by I3/BitShares/Stan
:-[It's a pity I didn't receive any newsletter about such an important event, does anybody know if there is any weekly or biweekly newsletter about BitShares?there's only a very irregular newsletter released by I3/BitShares/Stan
I imagine that newsletter is not the same as the one in dacsunlimited.com ?
I totally understand that writing newsletters during hectic development is difficult but I also think that communication is very important and the forums is not a good news channel as there is too much information to be processed as a weekly or monthly source of news on Bitshares.:-[It's a pity I didn't receive any newsletter about such an important event, does anybody know if there is any weekly or biweekly newsletter about BitShares?there's only a very irregular newsletter released by I3/BitShares/Stan
I imagine that newsletter is not the same as the one in dacsunlimited.com ?
Newsletters are hard to write during periods when we have a high rate of evolution.
As soon as we have converged onto a final consensus about the "merger", then we can write it up for everyone. (We now have the additional requirement that all such communications get triply vetted by experienced PR experts before they are released.)