BitShares Forum
Main => General Discussion => Topic started by: btcxyzzz on October 30, 2014, 04:46:27 pm
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What is snapshot, I really do have trouble finding straight information about it all. It all seems a bit of unorganized to me.
Where we should keep our BTSX on that date, locally or on exchanges, does it matter at all?
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Never keep your money on exchanges, first of all. But the snapshot is only to airdrop BTS to PTS/AGS/DNS/VOTE, BitSharesX will just change its name to BitShares. You can keep your BTSX wherever you want at the time of the snapshot as it won't be affected.
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Unfortunately, as far as I understand we will not see an increase in market cap. That will not happen until the new genesis block is hard forked in, when the market cap will increase by 25%. Once it happens, however, the price shouldn't fall as a result of the higher supply.
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Thanks, what does "airdrop BTX to PTS/AGS/DNS/VOTE" mean?
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Thanks, what does "airdrop BTX to PTS/AGS/DNS/VOTE" mean?
Basically they will receive shares in the new BTS based on the amount of PTS/AGS/DNS/VOTE they're holding at the time of the snapshot...therefore, it is important to keep any PTS and DNS you may have in your wallet on November 5th, so they can be included in the snapshot without worrying about whether the exchange will honor the airdrop.
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Be reminded .. that "airdropped" funds have a vesting period of 2 years .... which means .. you can get a 1/(2*365)-th part of your funds every day .. you can only withdraw all you funds after 2 years!
That introduces the risk of losing parts of your funds if the exchange shuts down within the next 2 years!
Unless you have them withdrawn to your own wallet!
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I invested in Angelshares before the 2-28 deadline and received BTS-X. I've got that setup in my wallet. So this one doesn't mean anything to me, right?
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I invested in Angelshares before the 2-28 deadline and received BTS-X. I've got that setup in my wallet. So this one doesn't mean anything to me, right?
Yup, AGS can just wait it out...you'll get BTS allocated on November 5th.
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Be reminded .. that "airdropped" funds have a vesting period of 2 years .... which means .. you can get a 1/(2*365)-th part of your funds every day .. you can only withdraw all you funds after 2 years!
That introduces the risk of losing parts of your funds if the exchange shuts down within the next 2 years!
Unless you have them withdrawn to your own wallet!
So BTSX we already have on exchanges can be withdrawed no problem after 5th Nov, 2 years vesting period is only for new funds? I don't have PTS or AGS, I only have BTSX on exchange...
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Be reminded .. that "airdropped" funds have a vesting period of 2 years .... which means .. you can get a 1/(2*365)-th part of your funds every day .. you can only withdraw all you funds after 2 years!
That introduces the risk of losing parts of your funds if the exchange shuts down within the next 2 years!
Unless you have them withdrawn to your own wallet!
So BTSX we already have on exchanges can be withdrawed no problem after 5th Nov, 2 years vesting period is only for new funds? I don't have PTS or AGS, I only have BTSX on exchange...
Yup, BTSX has no vesting period and nothing to worry about.
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Will the BTS total supply appear as 2.5 Billion on Nov 5th?
I think that would be preferable. As otherwise our perceived rate of dilution will be a lot higher.
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Will the BTS total supply appear as 2.5 Billion on Nov 5th?
I think that would be preferable. As otherwise our perceived rate of dilution will be a lot higher.
totally agree
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Will the BTS total supply appear as 2.5 Billion on Nov 5th?
I think that would be preferable. As otherwise our perceived rate of dilution will be a lot higher.
It should, imo.
Coinmarketcap should list 2.5 billion BTS.
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I was under the impression that the 500M extra shares will be added gradually over the 2-year vesting period. There would be no sudden jump like Ripple's.
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I was under the impression that the 500M extra shares will be added gradually over the 2-year vesting period. There would be no sudden jump like Ripple's.
They will slowly become available over 2 years.
I just think coinmarketcap should display the new total up front.
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I was under the impression that the 500M extra shares will be added gradually over the 2-year vesting period. There would be no sudden jump like Ripple's.
They will slowly become available over 2 years.
I just think coinmarketcap should display the new total up front.
That will be better for your self serving interest (and mine), to say nothing about the fact that is absolutely necessary in order for the promised dilution of 8% or less, to be true.
But to be totally honest, the other way around, i.e. showing the BTS in the supply after they are gradually released, is the more logical, imo.
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That will be better for your self serving interest (and mine), to say nothing about the fact that is absolutely necessary in order for the promised dilution of 8% or less, to be true.
But to be totally honest, the other way around, i.e. showing the BTS in the supply after they are gradually released, is the more logical, imo.
I think that the 2.5B upfront, and then slowly increasing due to delegate pay, is more accurate and informative.
After all, the people with AGS/PTS/DNS shares essentially have a certain number of BTS that they consider themself to own once Nov 5 hits, even if it cannot be immediately sold. There will be 2.5 billion shares that someone things they own, once Nov 5 hits.
After that, there we slowly be more created as delegates get paid. So I think that way makes more sense.
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can anybody explain what happened to keyhotee and how to recieve stake in DNS/VoTE if i never tested/take part in it?
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If we're showing the full 2.5B should coinmarketcap.com show the fully mined out supply of Bitcoin?
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can anybody explain what happened to keyhotee and how to recieve stake in DNS/VoTE if i never tested/take part in it?
As long as you have the private keys that you originally donated with you're all good. Keyhotee would need your BTC private key (wallet) and DNS/VOTE if you haven't claimed them you'll just get with your BTSX wallet.
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can anybody explain what happened to keyhotee and how to recieve stake in DNS/VoTE if i never tested/take part in it?
As long as you have the private keys that you originally donated with you're all good. Keyhotee would need your BTC private key (wallet) and DNS/VOTE if you haven't claimed them you'll just get with your BTSX wallet.
...and all the features originally planned for Keyhotee are showing up one by one in BitShares. It will be assimilated too.
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...and all the features originally planned for Keyhotee are showing up one by one in BitShares. It will be assimilated too.
#BorgNotBorg
;D
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If we're showing the full 2.5B should coinmarketcap.com show the fully mined out supply of Bitcoin?
To me the difference is:
Is additional WORK required to generate the extra supply?
For bitcoin, additional work (PoW mining) is needed before those coins exist. Therefore it doesnt count.
For BTS paid delegate inflation, addtiional work (what we are paying the delegates to do) is needed before those shares exist. Therefore it doesnt count.
For BTS extra .5 million allocation, no additional work is needed before those shares exist. Therefore it counts. That value is already there, they are essentially existing shares, they just cannot be sold yet.
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For BTS extra .5 million allocation, no additional work is needed before those shares exist. Therefore it counts. That value is already there, they are essentially existing shares, they just cannot be sold yet.
Point taken.