BitShares Forum
Main => General Discussion => Topic started by: stuartcharles on December 05, 2013, 11:08:48 am
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I want to explain how i feel and i guess that i am among the silent majority. I have followed this project from the start. I bought and built my mining equipment and was ready from 5hr post launch, so i am one of your Angels. However, like a lot of people i am also mining 3 other coins, holding 10 different coins and trying to follow as many forums. Plus i have a job, three kids a wife and a social life.
I think you probably see where this is going, It is very hard to keep up.
As i understood it protoshares where going to lead to bitshares but no mention of that in the news letter. Bitusd was going to be released after that. We were going to automatically get a share in all blockchains created but now i understand we are to use our PTS to buy into new DAC's.
I am sure that if i had time to read every post the above has probably been explained, but, i dont. I am a serious investor and i am sure there are many moor like me. I believe that you/we would benefit greatly if you could create thread only posted on by a selected few which would allow people like me to keep up with what is bound to be a rapidly evolving situation.
Without this i am afraid we will miss out on new investors and loose those who can't keep up and like me are wondering "is this an organised bunch with evolving ideas or are they just darting from one thing to the next without completing anything"
Im right behind you, but please, show me where you are so i can get behind.
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As i understood it protoshares where going to lead to bitshares but no mention of that in the news letter. Bitusd was going to be released after that. We were going to automatically get a share in all blockchains created but now i understand we are to use our PTS to buy into new DAC's.
As I understood, 3I(Invictus) only can guarantee that protoshares holders get 1:1 share in blockchain released by 3I, not all the new DAC's. I also read the news letter, I think the model it discussed is a suggestion model to operate for non-Invictus DACs (including 1:1 just like 3I, or using grandchildren of PTS). If I'm wrong, Stan, please correct me.
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All ProtoSharesHolders together form a club, and we invest and fight for new companies (DACs) as long as they split a big enough chunk of interest with us.
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Thanks for your replies HackFisher and wngdng77. My real point is this is hard to keep up with for those that are not able to spend an hour or moor a day dedicated to this forum and that a thread with bullet points of where we are now would keep investors with little time both happy and keen to invest moor not sell.
Do you agree with me on that?
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Thanks for your replies HackFisher and wngdng77. My real point is this is hard to keep up with for those that are not able to spend an hour or moor a day dedicated to this forum and that a thread with bullet points of where we are now would keep investors with little time both happy and keen to invest moor not sell.
Do you agree with me on that?
We are working with Brian and Super3 to boil our message down to something simple... as you can tell we have a very open development model and share our ideas as fast as we can. Clarity takes time. A normal company would spend months planning a simple message and then releasing it in a controlled way. We have basically given out the rough draft.
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Thanks for your replies HackFisher and wngdng77. My real point is this is hard to keep up with for those that are not able to spend an hour or moor a day dedicated to this forum and that a thread with bullet points of where we are now would keep investors with little time both happy and keen to invest moor not sell.
Do you agree with me on that?
We are working with Brian and Super3 to boil our message down to something simple... as you can tell we have a very open development model and share our ideas as fast as we can. Clarity takes time. A normal company would spend months planning a simple message and then releasing it in a controlled way. We have basically given out the rough draft.
Personally, I'm a big fan of this openness. I'd rather have a rough idea of what's going to happen, then keep up with the updates on the project than have to wait for the final press release to have a clue about what's going on
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As i understood it protoshares where going to lead to bitshares but no mention of that in the news letter. Bitusd was going to be released after that. We were going to automatically get a share in all blockchains created but now i understand we are to use our PTS to buy into new DAC's.
As I understood, 3I(Invictus) only can guarantee that protoshares holders get 1:1 share in blockchain released by 3I, not all the new DAC's. I also read the news letter, I think the model it discussed is a suggestion model to operate for non-Invictus DACs (including 1:1 just like 3I, or using grandchildren of PTS). If I'm wrong, Stan, please correct me.
The point of the DAC Angels Rising article is that there are many degrees of freedom for launching a DAC and when proposing a new DAC to potential Angel investors it is important to be clear - especially in defining how stock in the company gets distributed. In particular:
- What percent of the total money supply goes to ProtoShareholders? Invictus maps 1:1, 2M PTS to 10% of supply.
- What percent of the total money supply goes to Angel investors? We may try several formulas in future DACs.
- What percent of the total money supply goes to long term mining? We may try several formulas in future DACs.
- What percent of the total money supply goes to other innovations? We can't rule out innovations now can we?
Note that these other categories have no affect on our promised 1:1 ProtoShareholder stake. Its just a question about how the remaining 90% is structured to meet the unique business objectives of each DAC. Mine out over 100 years? Hold a big lottery or a series of lotteries? Who knows what a DAC designer may choose? The market will reward those who choose wisely. :)
Other start-ups are of course free to play with all these numbers. We just suggest that before people start investing, each unsolicited proposal to the Angel community should make it clear (a) how the money supply will be allocated, (b) what "parent(s)" your DAC will inherit from, and (c) under what social contract, if any.
If you need investors, then let them decide whether they want to invest under your carefully considered terms.
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Thanks for your replies HackFisher and wngdng77. My real point is this is hard to keep up with for those that are not able to spend an hour or moor a day dedicated to this forum and that a thread with bullet points of where we are now would keep investors with little time both happy and keen to invest moor not sell.
Do you agree with me on that?
I definitely agree with that.
We appreciate the community's efforts to organize our content for easier consumption.
We are relying heavily on the community for that function while we concentrate on progress at the bleeding edge. :)
The new web site should help a lot.
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Thanks for your replies HackFisher and wngdng77. My real point is this is hard to keep up with for those that are not able to spend an hour or moor a day dedicated to this forum and that a thread with bullet points of where we are now would keep investors with little time both happy and keen to invest moor not sell.
Do you agree with me on that?
We are working with Brian and Super3 to boil our message down to something simple... as you can tell we have a very open development model and share our ideas as fast as we can. Clarity takes time. A normal company would spend months planning a simple message and then releasing it in a controlled way. We have basically given out the rough draft.
Personally, I'm a big fan of this openness. I'd rather have a rough idea of what's going to happen, then keep up with the updates on the project than have to wait for the final press release to have a clue about what's going on
Thanks again too all who responded, I am also a massive fan of openness. I love the way you and the community are going about this. I am not asking for anything less, just that a condensed version of the evolving developments are somewhere clear on the forum and regularly updated.
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Thanks for your replies HackFisher and wngdng77. My real point is this is hard to keep up with for those that are not able to spend an hour or moor a day dedicated to this forum and that a thread with bullet points of where we are now would keep investors with little time both happy and keen to invest moor not sell.
Do you agree with me on that?
I agree. That is exactly what I want to see and would expect as a new investor.
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Where can I find this newsletter? Also, is there any twitter account I can follow?
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Where can I find this newsletter? Also, is there any twitter account I can follow?
http://invictus-innovations.com/news/ (http://invictus-innovations.com/news/)
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Where can I find this newsletter? Also, is there any twitter account I can follow?
http://invictus-innovations.com/news/ (http://invictus-innovations.com/news/)
Thanks!
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- What percent of the total money supply goes to ProtoShareholders? Invictus maps 1:1, 2M PTS to 10% of supply.
Stan, can you clarify this please:
Is it 2M PTS that are mapped to 10% of the max supply of the new DAC?
I thought it would be whatever amount of PTS existed at the time of spin off. So if it was today, it would only be roughly 1.05M PTS mapped to 10% of supply.
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- What percent of the total money supply goes to ProtoShareholders? Invictus maps 1:1, 2M PTS to 10% of supply.
Stan, can you clarify this please:
Is it 2M PTS that are mapped to 10% of the max supply of the new DAC?
I thought it would be whatever amount of PTS existed at the time of spin off. So if it was today, it would only be roughly 1.05M PTS mapped to 10% of supply.
Correct... it would be 1.05M today. 2M if it takes us a year from now to deliver.
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- What percent of the total money supply goes to ProtoShareholders? Invictus maps 1:1, 2M PTS to 10% of supply.
Stan, can you clarify this please:
Is it 2M PTS that are mapped to 10% of the max supply of the new DAC?
I thought it would be whatever amount of PTS existed at the time of spin off. So if it was today, it would only be roughly 1.05M PTS mapped to 10% of supply.
Correct... it would be 1.05M today. 2M if it takes us a year from now to deliver.
And is the first new DAC bitUSD or something entirely different please can you explain, simply :)
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This PDF never loads, someone mirror it?
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This PDF never loads, someone mirror it?
https://static.squarespace.com/static/51fb043ee4b0608e46483caf/t/52a11a33e4b0031364f4149c/1386289715426/News%20Letter%2003%20-%20December,%202013%20-%20DAC%20Angels%20Rising.pdf (https://static.squarespace.com/static/51fb043ee4b0608e46483caf/t/52a11a33e4b0031364f4149c/1386289715426/News%20Letter%2003%20-%20December,%202013%20-%20DAC%20Angels%20Rising.pdf)
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No reply to my question?
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- What percent of the total money supply goes to ProtoShareholders? Invictus maps 1:1, 2M PTS to 10% of supply.
Stan, can you clarify this please:
Is it 2M PTS that are mapped to 10% of the max supply of the new DAC?
I thought it would be whatever amount of PTS existed at the time of spin off. So if it was today, it would only be roughly 1.05M PTS mapped to 10% of supply.
Correct... it would be 1.05M today. 2M if it takes us a year from now to deliver.
And is the first new DAC bitUSD or something entirely different please can you explain, simply :)
My understanding is the situation is still fluid, there are several dacs under development or design by different teams. Bitshares is sorta an opus. Gotta get it right. I hope Invictus launches a few experimental DACs honoring protoshares to make sure their theories are correct before launching such an important chain. Protoshares was successful despite a lot of problems, I think those bugs should be worked out before Bitshares releases.
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And is the first new DAC bitUSD or something entirely different please can you explain, simply :)
BitUSD is one of many assets trading on the BitShares DAC.
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And is the first new DAC bitUSD or something entirely different please can you explain, simply :)
BitUSD is one of many assets trading on the BitShares DAC.
Many thanks, to you too lighthouse. I think I'm starting to get my head round this :-)