Once you redeem your BTS from your PTS, is there any point in holding onto PTS? Also, once PTS are already used to redeem BTS, can they not be used again? So someone buying PTS won't know if they're getting PTS+BTS or just PTS?
You never lose your PTS, you'll just get additional shares in every DAC. So say if you're holding on to 100 PTS at the launch, after the launch of BitShares, you'll have 100 PTS + 100 BTS. The value of PTS might fall but it still has value because Invictus or other community members might come up with other DACs in the future and honor the same social contract of giving initial shares to PTS holders. Invictus has publicly announced their social contract - every DAC they create will be forked from ProtoShares which means by holding ProtoShares, you get a share of each of the Invictus DACs in the future. That's why they're valuable.
Ah, I see. Do I get Keyhotee rep/name for holding PTS?
Is there incentive for other groups to release their DACs forked from PTS? Or is the success of PTS post-BTS launch pretty much entirely dependent on the success of Invictus' other DACs?
Also, I'm not sure if you addressed my other question. Let's say Alice has 1PTS which she redeems for 1BTS. She then sells her 1PTS to Bob for 10BTC (It doesn't hurt to dream!
). Bob takes the 1PTS he just bought and attempts to use it to redeem 1BTS. What happens?