I will not use my rent money for investments... but that is just me.
I will not use my rent money for investments... but that is just me.
Yeah, I know it's a bad idea. I was hesitant to even ask, but I would if it were a sure bet at a serious profit.
PTS may fall after a snap shot(see Stan's blog post: Watch for falling PTS), and your gains on investment may only be realized when BTS music is up and running weeks or months later..
PTS may fall after a snap shot(see Stan's blog post: Watch for falling PTS), and your gains on investment may only be realized when BTS music is up and running weeks or months later..
Who's Stan, & where's his blog?
I had the same idea that 'music' might take awhile to gain value. So maybe that won't be part of what I do.
Right now the money I have in PTS was what I had in mind to use to incorporate a business I want to start. I might still want to do that, & I'm hoping I can make $100 or so on the PTS spike, if it materializes.
...Always on the lookout for a side job.
(http://i.imgur.com/dgO9IP2.jpg)
Before BTSX snapshot back in FEB if I remember correctly PTS were worth $25-$30 dollars and after the snapshot the price decreased very brutally. Many, including me didn't see that coming and kept buying PTS... So based on that yes, PTS price falls after the snapshot.
BUT!!! Since then things have changed remarkably! DNS-Vote snapshot happened and PTS price after the snapshot didn't fell much. Just fell a little bit and recouped very easily back to pre-snapshot levels, even if bitcoin was falling in price.
...
(http://i.imgur.com/dgO9IP2.jpg)
Forgive my ignorance. but since I'm very interested in the DNS DAC, so its important I understand this.
What exactly is a snapshot? It obviously implies something in motion and saving the state of whatever is in motion.
In this discussion we're talking about the Music DAC, so how is that in motion? I didn't think that was launched yet. Is the Music DAC "in motion" starting from the transactions in a genesis block ongoing to the present, such transactions representing trades between developers of the Music DAC?
I see the term snapshot used fairly often but I haven't found just what it means in a bitshares / DAC context yet.
Is anyone interested in posting about the Music DAC snapshot in the music forum of reddit? Might be a good place to push it?
Also, is there any plans for contacting actual bands? I have a personal relationship with the singer of a band that has sold over 500,000 records but I don't want to say anything until this is really solid. He also seems like the type of person who may be on board with this and has a huge connection to many many many other bands. If you're aged 18-35 in the USA you probably know this band.
I think if you want to interest someone in the 'investment' opportunity, then tell them to load up on their PTS now.
1) As a shareholder of BTSX, can I trade BTSX shares for PTS shares?
2) Can this be accomplished through the BTSX or PTS wallets, neither of them or both of them?
3) Can PTS shares be held in a wallet like Electrum?
4) I could liquidate BTSX into BTC, then buy PTS with BTC. That doesn't sound very wise, or is it?
a:If you want PTS and you only have BTSX that is the way to do it
5) Right now my entire stake is in BTSX. Should I even consider buying PTS before 1/1/2015 or whenever PTS changes to PoS?
a:If you are interested in DAC music when the snapshot date has been announced the 10th Oct, then you should invest in PTS before then
6) If I converted my entire BTSX stake into PTS now, would I get it back in BTSX dividends later?
a: No.Irrelevant
7) Does my strong interest in the DNS DAC specifically relevant to these questions?
a: DNS and Vote snapshots were taken already. So buying PTS now will not grant you shares in DNS DAC but rather in Music DAC (PTS should be held in your wallet at the snapshot time or else the exchange will claim your shares and may or may not allocate them to you)
Quote1) As a shareholder of BTSX, can I trade BTSX shares for PTS shares?
2) Can this be accomplished through the BTSX or PTS wallets, neither of them or both of them?
3) Can PTS shares be held in a wallet like Electrum?
4) I could liquidate BTSX into BTC, then buy PTS with BTC. That doesn't sound very wise, or is it?
a:If you want PTS and you only have BTSX that is the way to do it
...
Also, since the DNS DAC is already snapshoted, why isn't there more activity here on the forum related to the DNS DAC?
...
Also, since the DNS DAC is already snapshoted, why isn't there more activity here on the forum related to the DNS DAC?
Because the developer is still developing and testing the DNS DAC application. Got to wait for it to be ready.
As for the MUSIC Dac, the latest news is that there will be a pre-sales event (ie funding event) AFTER the snapshot. This means the shares derived from this snapshot would be worth less somewhat. I do not expect PTS price to hold.
Quote1) As a shareholder of BTSX, can I trade BTSX shares for PTS shares?
2) Can this be accomplished through the BTSX or PTS wallets, neither of them or both of them?
3) Can PTS shares be held in a wallet like Electrum?
4) I could liquidate BTSX into BTC, then buy PTS with BTC. That doesn't sound very wise, or is it?
a:If you want PTS and you only have BTSX that is the way to do it
I don't know what you mean. Are you answering #4 saying that's the right way or the only way to do it, and direct trade isn't possible?
Thats the only way to do it if you want some PTS
I thought BitsharesX also had exchange features built in, so why would I need to involve bter.com or BTC to obtain PTS?
The exchange is for bitAssets that track the value of "real" assets (e.g bitUSD is tracking the value of USD). There is a bitPTS bitAsset that can track the value of PTS(not trading yet) but so far you need the real PTS in order to get your DAC share from snapshots
Also, I do not understand what PTS "coins" or shares in PTS have to do with DACs, unless it's just baked into the code of the DACs to allocate some portion of the DAC shares to owners of PTS when the DAC goes public. Is that it? If so I guess the existing DACs would then need to be forked to pay the dividends to the new PTS-DAC when it is created after this year?
AFAIK there is nothing like shares in PTS, only PTS "coins" (Bitshares PTS). Bitshares PTS for the time being is a POW coin, every new DAC announces a snapshot date, If you hold Bitshares PTS in your wallet (or in some exchanges that will honor the snapshot) you earn "shares" or whatever it is called in this new DAC. I can' t understand what you are trying to say in your last sentence but DACs that already exist like BitsharesX have nothing to do with Bitshares PTS in the future.
As much as I've read and studied there seem to be some fundamentals of the I3 ecosystem I don't quite grasp, like the current and planned relationships between DACs, PTS & BTSX.
BTSX (BitsharesX) is a DAC
Every new DAC anounces a snapshot date and gives "Shares" to PTS(Bitshares PTS) and AGS(Bitshares AGS) holders.
If in the future we will have some new DACs that rely on existing DACs, chances are that this new DAC will honor the holders of the DAC that it relies on and NOT PTS and AGS holders, e.g a new DAC that relies on BitsharesX(BTSX) will honor BitsharesX holders only.
What I'm thinking is PTS/Protoshares was the initial PoW "coin" setup to fund and experiment with PoS & DACs.
PTS/Protoshares(Bitshares PTS) is the initial PoW coin that gives "shares" to you every time a new DAC snapshot date is announced if you hold PTS in your wallet at the snapshot date.
Also, since the DNS DAC is already snapshoted, why isn't there more activity here on the forum related to the DNS DAC?
I think it's too early, snapshot date of BTSX DAC was back in February and the first BTSX wallet released 1-2 months ago I think.
If anything I said is incorrect/wrong, someone please correct me.
...
Any consensus will ultimately be defied by the market because the weight of capital acting in unison will create a different and unexpected outcome (think how impossible it is to get set when everybody acts in unison). That is why the market peak and behaviour has shifted with each new DAC, as everyone keeps adjusting behaviour based on the last experience, ignoring the obvious game that everyone is doing likewise. It is more profitable to fade the herd, or if that cannot be gauged easily, invest with a longer term view on whether you think the investment is worthwhile or not.
...