BitShares Forum
Other => Graveyard => Muse/SoundDAC => Topic started by: cob on February 05, 2015, 05:43:53 am
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In the next few days we'll be making the NOTE snapshot liquid as a UIA on bitshares.
Some people had concerns that this means we're going to be doing the entire Music project on the bitshares blockchain. This is false! We plan to just let the snapshot trade on BTS, and then freeze, snapshot, and recall all NOTEs when we are ready to launch a separate chain as was originally planned.
Toast tells us Dan wants us to operate on the BTS blockchain, and maybe that's why some people think this is the plan, but this isn't Dan's project. We've received plenty of feedback telling us not to do this and we agree.
To be fair, Toast did share some interesting ideas about how to do "embedded" DACs in a way where the token still accrues value from related transactions. We will let a different project be the pioneer, though.
To avoid confusion (and to bring BTS some more volume), we strongly recommend that exchanges do not list the NOTE UIA and wait for the real network launch.
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PeerTracks update: going to the Grammy's! PR/networking time!
More refined business model coming soon
Cob公开出来发言了，说明只是股权暂时流动在bts上，等正是钱包出来后就会移过去。
至于那些担心Music会进入BTS里面，是错的，这个并不是BM的项目，是Cob的项目。
为了减轻误会，Cob强烈建议交易所不要给这个自定义资产上架。
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To be fair, Toast did share some interesting ideas about how to do "embedded" DACs in a way where the token still accrues value from related transactions. We will let a different project be the pioneer, though.
Too bad. One of these days I would love to see a child DAC (https://bitsharestalk.org/index.php?topic=11349.0) on the BitShares blockchain that uses BitUSD (rather than attempting to create their own BitAssets, thus splitting liquidity) and still retains the flexibility to hard fork as their shareholders want without disrupting the parent DAC's operations.
I still (not so) secretly hope that Music and Play will both eventually decide to "move in to their own condo in their parent's apartment complex" (i.e. have their own blockchain as a child DAC of BitShares where the core stake is listed on the BitShares blockchain) after trying to make it out on their own for a while.
PeerTracks update: going to the Grammy's! PR/networking time!
More refined business model coming soon
+5%
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I don't see why you couldn't do both. But hey, I wouldn't risk all on a BitShares UIA either. PeerTracks is much too important to be the guinea pig. Good luck at the Grammy's!
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How would you go for distributing NOTES to their shareholders? Are you going to pay the tx fee to the DAC or will BM "ask shareholders" for another "hardfork" to airdrop the UIA to their holders?
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Thanks for the clarification.
I'm curious to see if this brings more volume to BTS.
Also I guess once BTER finds out, they will make the snapshot liquid to, and probably hold of withdrawals and deposits untill the real launch. (PTS Snapshot).
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In the next few days we'll be making the NOTE snapshot liquid as a UIA on bitshares.
Some people had concerns that this means we're going to be doing the entire Music project on the bitshares blockchain. This is false! We plan to just let the snapshot trade on BTS, and then freeze, snapshot, and recall all NOTEs when we are ready to launch a separate chain as was originally planned.
Toast tells us Dan wants us to operate on the BTS blockchain, and maybe that's why some people think this is the plan, but this isn't Dan's project. We've received plenty of feedback telling us not to do this and we agree.
To be fair, Toast did share some interesting ideas about how to do "embedded" DACs in a way where the token still accrues value from related transactions. We will let a different project be the pioneer, though.
To avoid confusion (and to bring BTS some more volume), we strongly recommend that exchanges do not list the NOTE UIA and wait for the real network launch.
======
PeerTracks update: going to the Grammy's! PR/networking time!
More refined business model coming soon
Cob公开出来发言了，说明只是股权暂时流动在bts上，等正是钱包出来后就会移过去。
至于那些担心Music会进入BTS里面，是错的，这个并不是BM的项目，是Cob的项目。
为了减轻误会，Cob强烈建议交易所不要给这个自定义资产上架。
I have no means of evaluating whether integrating BTS Music into BTS is a good thing for BTS Music! But you should definitely talk to each other directly (Dan and/or someone else that has the vision / overview of BTS and you and/or Bitsaphire)! Too often did it happen that non/mis-communication has lead to inefficiencies that are hard to undo once decisions are made!! Talk to each other please (directly!)!
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Sent a contact email to Poloniex pointing them to this thread considering they took a snapshot for this. I hope they honor the snapshot for this UIA so those of us who used Poloniex can gain control over the stake earlier.
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Thinking about this some more, the MUSIC blockchain, should be available in about 2 months.
What is the benefit of trading the UIA?
Giving BTS some extra volume.
This might backfire. Maybe we won't get to many new users, just for the purpose of buying the UIA before the second snapshot. Which would mean there would probably be more supply than demand.....
Also the idea of a double snapshot could be very confusing, which might lead to problems before MUSIC launches.
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To be fair, Toast did share some interesting ideas about how to do "embedded" DACs in a way where the token still accrues value from related transactions. We will let a different project be the pioneer, though.
Too bad. One of these days I would love to see a child DAC (https://bitsharestalk.org/index.php?topic=11349.0) on the BitShares blockchain that uses BitUSD (rather than attempting to create their own BitAssets, thus splitting liquidity) and still retains the flexibility to hard fork as their shareholders want without disrupting the parent DAC's operations.
I still (not so) secretly hope that Music and Play will both eventually decide to "move in to their own condo in their parent's apartment complex" (i.e. have their own blockchain as a child DAC of BitShares where the core stake is listed on the BitShares blockchain) after trying to make it out on their own for a while.
Can't wait for the pull request!
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Too bad. One of these days I would love to see a child DAC on the BitShares blockchain that uses BitUSD (rather than attempting to create their own BitAssets, thus splitting liquidity) and still retains the flexibility to hard fork as their shareholders want without disrupting the parent DAC's operations.
I still (not so) secretly hope that Music and Play will both eventually decide to "move in to their own condo in their parent's apartment complex" (i.e. have their own blockchain as a child DAC of BitShares where the core stake is listed on the BitShares blockchain) after trying to make it out on their own for a while.
+5%
Guess I really don't see the benefit of splitting resources/liquidity when clearly everything would work more synergistically together...any particular reasons why Music wants to "go it alone"?
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The issue I am seeing here now is the marketcap of BTS ..
when you open up the trading for NOTE in BTS .. doesn't that effectively mean that you insert the NOTE marketcap INTO BTS ..
So when you snapshot that asset, the market cap of BTS will tank back to original rate .. which leaves a bad taste on BTS .. doesn't it?
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The issue I am seeing here now is the marketcap of BTS ..
when you open up the trading for NOTE in BTS .. doesn't that effectively mean that you insert the NOTE marketcap INTO BTS ..
So when you snapshot that asset, the market cap of BTS will tank back to original rate .. which leaves a bad taste on BTS .. doesn't it?
No. Market cap of UIAs don't contribute to the market cap of BTS. NOTE and BTS will each have their own independent market caps.
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No. Market cap of UIAs don't contribute to the market cap of BTS. NOTE and BTS will each have their own independent market caps.
ah .. and bitUSD are only used to 'exchange' value .. I see .. makes sense ..
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Im confused. So correct me if I am wrong please, does this mean we will be able to trade notes on BTS Asset exchange (and likely BTER etc.) before NOTES investors from the auctions receive their coins?
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Everyone will receive ther corresponding stake in the exchange .. thats what I GUESS and what makes sense ..
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Ok and sorry I am new but I am having trouble figuring out how I will get mine then because I sent from bitcoin wallet to the ID on the auction page, how will they know my shares and how do I receive them? I was under the impression it had something to do with the private keys of my btc wallet and further instructions would be given.
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you will be able to collect your NOTES by importing the private keys you used to send BTC to the "crowdsale"
I am sure cob will provide a detailed description on how to get your shares
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Ok thanks I will wait for further instructions from cob
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Hope we can get another micro update soon.
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agreed, I just want more info about receiving notes from pre-sale and nobody seems to have a straight answer.
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We were waiting for 0.7.0 because of the network bug. Now that it's out there's no reason to delay. I'll maybe do more test distributions on devshares and then do the real thing before March 25th.
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Awesome! +5%
I am excited to see how things go. Good work everyone!
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FYI, Devshares is now forked.
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We were waiting for 0.7.0 because of the network bug. Now that it's out there's no reason to delay. I'll maybe do more test distributions on devshares and then do the real thing before March 25th.
Just a note: the 0.7.0 out there is not real 0.7.0, it's just a unfinished patch.
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0.8.0 should be released soon.
https://github.com/BitShares/bitshares/milestones
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We were waiting for 0.7.0 because of the network bug. Now that it's out there's no reason to delay. I'll maybe do more test distributions on devshares and then do the real thing before March 25th.
Just a note: the 0.7.0 out there is not real 0.7.0, it's just a unfinished patch.
What is NOT 'real 0.7.0' and unfinished patch? Can you elaborate?
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The refactored code for the UIAs has't made it into 0.7.0
+5% @ toast!!