BitShares Forum
Main => General Discussion => Topic started by: bytemaster on February 23, 2014, 09:08:42 am
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We have likely commitments from btc38 and bter that they will be honoring the BTS split from PTS on the 28th. You will not be able to withdraw your BTS from these exchanges until after the BitShares XT network is finalized and assumed secure (not needing a reset). This provides an interesting option for people wishing to speculate on BitShares X during the testing phase.
We will be getting more information regarding how these exchanges will handle this prior to the 28th. So do not consider this an 'all clear' to leave your balance there, but do be on notice that this option may be available to you.
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We have likely commitments from btc38 and bter that they will be honoring the BTS split from PTS on the 28th. You will not be able to withdraw your BTS from these exchanges until after the BitShares XT network is finalized and assumed secure (not needing a reset). This provides an interesting option for people wishing to speculate on BitShares X during the testing phase.
We will be getting more information regarding how these exchanges will handle this prior to the 28th. So do not consider this an 'all clear' to leave your balance there, but do be on notice that this option may be available to you.
This might have been discussed alot and asked way too many times, so sorry for my ignorance.
I was just wondering, I mined about 150 PTS last year and sold them. Do I get any BTS or does one have to be holding PTS to get BTS? My total 150 PTS were all mined.
Thanks.
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We have likely commitments from btc38 and bter that they will be honoring the BTS split from PTS on the 28th. You will not be able to withdraw your BTS from these exchanges until after the BitShares XT network is finalized and assumed secure (not needing a reset). This provides an interesting option for people wishing to speculate on BitShares X during the testing phase.
We will be getting more information regarding how these exchanges will handle this prior to the 28th. So do not consider this an 'all clear' to leave your balance there, but do be on notice that this option may be available to you.
This might have been discussed alot and asked way too many times, so sorry for my ignorance.
I was just wondering, I mined about 150 PTS last year and sold them. Do I get any BTS or does one have to be holding PTS to get BTS? My total 150 PTS were all mined.
Thanks.
You must hold them on the snapshot date.
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Thank you BTC38 and BTER
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We have likely commitments from btc38 and bter that they will be honoring the BTS split from PTS on the 28th. You will not be able to withdraw your BTS from these exchanges until after the BitShares XT network is finalized and assumed secure (not needing a reset). This provides an interesting option for people wishing to speculate on BitShares X during the testing phase.
We will be getting more information regarding how these exchanges will handle this prior to the 28th. So do not consider this an 'all clear' to leave your balance there, but do be on notice that this option may be available to you.
I dont get it .. does this mean, they will send us the privatekeys for the bts (corresponding to the pts in our wallets there)??
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We have likely commitments from btc38 and bter that they will be honoring the BTS split from PTS on the 28th. You will not be able to withdraw your BTS from these exchanges until after the BitShares XT network is finalized and assumed secure (not needing a reset). This provides an interesting option for people wishing to speculate on BitShares X during the testing phase.
We will be getting more information regarding how these exchanges will handle this prior to the 28th. So do not consider this an 'all clear' to leave your balance there, but do be on notice that this option may be available to you.
I dont get it .. does this mean, they will send us the privatekeys for the bts (corresponding to the pts in our wallets there)??
Your PTS private keys *are* your BTS private keys, the public keys are embedded in the genesis block
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Sorry if this has been covered somewhere else, but will fractional shares of PTS count towards the new shares? Thanks.
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Yes but they won't include any address with under like 0.0001 (not sure about the exact number)
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so that means it would be possible to hold pts on bter/btc38 on snap shot date?
How would that provide options for speculators? By trading BterBTS against BTS?
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so that means it would be possible to hold pts on bter/btc38 on snap shot date?
How would that provide options for speculators? By trading BterBTS against BTS?
By allowing people to buy and sell their BTS positions into/out of Bitcoin.
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so that means it would be possible to hold pts on bter/btc38 on snap shot date?
How would that provide options for speculators? By trading BterBTS against BTS?
By allowing people to buy and sell their BTS positions into/out of Bitcoin.
Sorry for not getting it. Isnt this what an exchange is supposed to do? Or will that be possible before the 28th?
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so that means it would be possible to hold pts on bter/btc38 on snap shot date?
How would that provide options for speculators? By trading BterBTS against BTS?
By allowing people to buy and sell their BTS positions into/out of Bitcoin.
Sorry for not getting it. Isnt this what an exchange is supposed to do? Or will that be possible before the 28th?
You have an account on an exchange with X PTS in it on Feb 28 (morning). On March 1, you should still have X PTS in your account if you didn't buy/sell. The question was, what happens to the BTS that were generated corresponding to your PTS account? The exchanges now say that they will honor your BTS, so you will now have BTS on their exchange in addition to PTS, but they won't let you withdraw BTS (but you can trade for other currencies).
This gives options to speculators because previously it was thought people would have to withdraw all their PTS to their private wallets before Feb 28 to get BTS, then transfer their BTS to an exchange after Feb 28. Now you can, possibly, leave your PTS at the exchange and trade BTS when they show up (even sell them all for BTC and withdraw your BTC).
Edit: stupid leap days
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so that means it would be possible to hold pts on bter/btc38 on snap shot date?
How would that provide options for speculators? By trading BterBTS against BTS?
By allowing people to buy and sell their BTS positions into/out of Bitcoin.
Sorry for not getting it. Isnt this what an exchange is supposed to do? Or will that be possible before the 28th?
You have an account on an exchange with X PTS in it on Feb 28 (morning). On Feb 29, you should still have X PTS in your account if you didn't buy/sell. The question was, what happens to the BTS that were generated corresponding to your PTS account? The exchanges now say that they will honor your BTS, so you will now have BTS on their exchange in addition to PTS, but they won't let you withdraw BTS (but you can trade for other currencies).
This gives options to speculators because previously it was thought people would have to withdraw all their PTS to their private wallets before Feb 28 to get BTS, then transfer their BTS to an exchange after Feb 28. Now you can, possibly, leave your PTS at the exchange and trade BTS when they show up (even sell them all for BTC and withdraw your BTC).
Don't confuse people with a Feb 29.
Where bter and btc38 are located the snapshot is actually taken on 1st March, just after sunrise.
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nice, 29th on Feb, maybe 2016 can do...
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We have likely commitments from btc38 and bter that they will be honoring the BTS split from PTS on the 28th. You will not be able to withdraw your BTS from these exchanges until after the BitShares XT network is finalized and assumed secure (not needing a reset). This provides an interesting option for people wishing to speculate on BitShares X during the testing phase.
We will be getting more information regarding how these exchanges will handle this prior to the 28th. So do not consider this an 'all clear' to leave your balance there, but do be on notice that this option may be available to you.
any update on this?
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BTER released their schedule where we can see the snapshot taken time as they say is Feb.28 2014 24:00:00 GST. But in my memory GMT is the right one instead of GST . Can anyone from 3I help clarify this ?
You may check the BTER schedule here https://bter.com/article/177
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Just checked my cryptsy account, on the balances tap it says X amount cryptsy points next to it 0.000 Bitshares!!!!
Edit: this is the dashboard tap
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Sorry false alarm, it seems they have changed the name of PTS in bitshares sorry
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Cryptsy seems to have replaced the name of Protoshares with Bitshares, don't know if that means anything.
Am I understanding this correctly, while most will have to wait to claim their new bitshares until a wallet import tool etc. are ready, but people who have PTS on BTER will be able to immediately start trading bitshares on March 1?
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Cryptsy seems to have replaced the name of Protoshares with Bitshares, don't know if that means anything.
Am I understanding this correctly, while most will have to wait to claim their new bitshares until a wallet import tool etc. are ready, but people who have PTS on BTER will be able to immediately start trading bitshares on March 1?
Yes... but not withdraw BitShares until the software is ready to do so.
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Cryptsy seems to have replaced the name of Protoshares with Bitshares, don't know if that means anything.
Am I understanding this correctly, while most will have to wait to claim their new bitshares until a wallet import tool etc. are ready, but people who have PTS on BTER will be able to immediately start trading bitshares on March 1?
Yes... but not withdraw BitShares until the software is ready to do so.
BTER released their schedule where we can see the snapshot taken time as they say is Feb.28 2014 24:00:00 GST. But in my memory GMT is the right one instead of GST . Can you please help clarify this ?
You may check the BTER schedule here https://bter.com/article/177
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Cryptsy seems to have replaced the name of Protoshares with Bitshares, don't know if that means anything.
Am I understanding this correctly, while most will have to wait to claim their new bitshares until a wallet import tool etc. are ready, but people who have PTS on BTER will be able to immediately start trading bitshares on March 1?
To clarify:
Maybe you're getting information somewhere else, but the article at https://bter.com/article/177 (https://bter.com/article/177) does not say that you can start trading bitshares on March 1. It says that PTS trading resumes after the trading halt. If Bter allowed Bitshare trading pre-launch, that would essentially turn them into a futures exchange. That would be cool, but unless Bter's pockets are deeper than I think they are, it would be a monumentally risky move. :)
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Cryptsy seems to have replaced the name of Protoshares with Bitshares, don't know if that means anything.
Am I understanding this correctly, while most will have to wait to claim their new bitshares until a wallet import tool etc. are ready, but people who have PTS on BTER will be able to immediately start trading bitshares on March 1?
To clarify:
Maybe you're getting information somewhere else, but the article at https://bter.com/article/177 (https://bter.com/article/177) does not say that you can start trading bitshares on March 1. It says that PTS trading resumes after the trading halt. If Bter allowed Bitshare trading pre-launch, that would essentially turn them into a futures exchange. That would be cool, but unless Bter's pockets are deeper than I think they are, it would be a monumentally risky move. :)
Why? They know exactly how much BTS every PTS account would get. So even in the case of a reset it wouldn't matter, as long as they don't allow withdrawals until the xt chain is safe.
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beta.beeeeer.org and PTS pool could do the same but not reach the minimum of withdraw
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I feel this is cool that the exchanges are doing it, but the whole time zone and dates makes it a bit confusing.
Plus rundown clock on invictus.io website hasn't been working for me today.
end of February GMT is what I'm sticking with I guess.
Hey can anyone confirm from bitshares, that this is going to happen with BTS and exchanges? wouldn't the exchanges have to be working in tandem with Bitshares to aquire BTS?
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I feel this is cool that the exchanges are doing it, but the whole time zone and dates makes it a bit confusing.
Plus rundown clock on invictus.io website hasn't been working for me today.
end of February GMT is what I'm sticking with I guess.
Hey can anyone confirm from bitshares, that this is going to happen with BTS and exchanges? wouldn't the exchanges have to be working in tandem with Bitshares to aquire BTS?
Exchanges who hold PTS private keys get it automatically. If they are 100% backed exchanges then they will automatically have access to the BTS when someone launches the first XT chain.