BitShares Forum

Main => General Discussion => Topic started by: MrJeans on February 15, 2014, 07:26:59 pm

Title: Some clarity on the chains
Post by: MrJeans on February 15, 2014, 07:26:59 pm
I just want to make sure that I understand wants happening for the upcoming BitsharesX test snapshot.

So there was some discussion around how to make bitsharesX profitable for bitshare holders. Where one chain would have no interest charges, one variable interest and one 5% interest.

Is the snapshot on the 28th of Feb be for the no interest chain? Will new snapshots be taken at a later date for the variable interest and 5% interest chains?
What bitassets will be included in the chain to be launched on the 28th?

Thanks
Title: Re: Some clarity on the chains
Post by: bytemaster on February 15, 2014, 07:41:16 pm
Each new chain will be a new snapshot (except for resets in the event of a major bug in the month of March for the BitShares XT network)

The assets that will be included are:

BTC, GLD, SLV, USD, CNY  and perhaps a few other major currencies. 

As 5% interest and variable interest chains will require additional development, we will take a new snapshot prior to launching those chains.

First chain, XT will have no interest. 
Title: Re: Some clarity on the chains
Post by: sfinder on February 15, 2014, 09:48:59 pm
Each new chain will be a new snapshot (except for resets in the event of a major bug in the month of March for the BitShares XT network)
As 5% interest and variable interest chains will require additional development, we will take a new snapshot prior to launching those chains.

Just try to clarify with you, for the future  5% interest chain ,ALL the AGS and PTS holder only able to get 10% of the shares of the chain since this new chain is a DAC product form 3I.

First chain, XT will have no interest.

Does the first chain has the dividend from transaction fee?
Title: Re: Some clarity on the chains
Post by: speedy on February 15, 2014, 10:36:14 pm
Each new chain will be a new snapshot (except for resets in the event of a major bug in the month of March for the BitShares XT network)
As 5% interest and variable interest chains will require additional development, we will take a new snapshot prior to launching those chains.

Just try to clarify with you, for the future  5% interest chain ,ALL the AGS and PTS holder only able to get 10% of the shares of the chain since this new chain is a DAC product form 3I.

First chain, XT will have no interest.

Does the first chain has the dividend from transaction fee?

Yes the first chain has dividends from fees.

I imagine that the interest chain will also do the 50/50 AGS/PTS allocation, as the first chain was originally supposed to have interest. I think current AGS/PTS investors would only find a more diluted share acceptable if it was in a far-future DAC that required a huge amount more work. But that is just my opinion.
Title: Re: Some clarity on the chains
Post by: bytemaster on February 15, 2014, 11:53:21 pm
Unless additional funds outside of AGS/PTS are raised for a DAC then I see no other division than 50/50 making sense. 
Title: Re: Some clarity on the chains
Post by: toast on February 16, 2014, 05:14:10 am
Unless additional funds outside of AGS/PTS are raised for a DAC then I see no other division than 50/50 making sense.

Exactly, if anyone makes a clone with minor modifications with any other allocation I will immediately make a 50/50 copy and get a bigger network.

Which snapshot is used depends on how recent it is, I'm thinking of going ahead and making 0% chains for other cryptocurrencies and also common indices (s&p 500 for example) right when BTS XT graduates to BTS X
Title: Re: Some clarity on the chains
Post by: bytemaster on February 16, 2014, 05:21:01 am
Unless additional funds outside of AGS/PTS are raised for a DAC then I see no other division than 50/50 making sense.

Exactly, if anyone makes a clone with minor modifications with any other allocation I will immediately make a 50/50 copy and get a bigger network.

Which snapshot is used depends on how recent it is, I'm thinking of going ahead and making 0% chains for other cryptocurrencies and also common indices (s&p 500 for example) right when BTS XT graduates to BTS X

Please note our latest recommendation regarding honoring BitShares XT for future chains rather than AGS / PTS....

https://bitsharestalk.org/index.php?topic=2940.msg36848#msg36848
Title: Re: Some clarity on the chains
Post by: toast on February 16, 2014, 05:29:26 am
Unless additional funds outside of AGS/PTS are raised for a DAC then I see no other division than 50/50 making sense.

Exactly, if anyone makes a clone with minor modifications with any other allocation I will immediately make a 50/50 copy and get a bigger network.

Which snapshot is used depends on how recent it is, I'm thinking of going ahead and making 0% chains for other cryptocurrencies and also common indices (s&p 500 for example) right when BTS XT graduates to BTS X

Please note our latest recommendation regarding honoring BitShares XT for future chains rather than AGS / PTS....

https://bitsharestalk.org/index.php?topic=2940.msg36848#msg36848

Awesome! As a PTS/AGS holder this makes me happy
Title: Re: Some clarity on the chains
Post by: bytemaster on February 16, 2014, 05:37:02 am
Unless additional funds outside of AGS/PTS are raised for a DAC then I see no other division than 50/50 making sense.

Exactly, if anyone makes a clone with minor modifications with any other allocation I will immediately make a 50/50 copy and get a bigger network.

Which snapshot is used depends on how recent it is, I'm thinking of going ahead and making 0% chains for other cryptocurrencies and also common indices (s&p 500 for example) right when BTS XT graduates to BTS X

Please note our latest recommendation regarding honoring BitShares XT for future chains rather than AGS / PTS....

https://bitsharestalk.org/index.php?topic=2940.msg36848#msg36848

Awesome! As a PTS/AGS holder this makes me happy
Be sure to voice your opinion and reasons in the other thread.