BitShares Forum

Main => General Discussion => Topic started by: jwiz168 on April 14, 2014, 11:04:31 pm

Title: 8M or 4M BTS?
Post by: jwiz168 on April 14, 2014, 11:04:31 pm
Sorry guys for missing this . But I want to know how much bitshare from the snapshot? Originally, it was 4 million shares. But as I saw the specs on the website, it is 8 million. What is the final number of shares for bitshare?

Title: Re: 8M or 4M BTS?
Post by: Stan on April 15, 2014, 02:17:13 am
Sorry guys for missing this . But I want to know how much bitshare from the snapshot? Originally, it was 4 million shares. But as I saw the specs on the website, it is 8 million. What is the final number of shares for bitshare?

First, it doesn't really matter since all DACs transact in BIPs - as a billionth of the total shares in circulation. 

Second, since it doesn't really matter, we thought we might as well go with a lucky number that our Chinese friends have recommended. 

Hence the 8,000,000 shares = 1,000,000,000 BIPS.

That means, for XTS,
PTS holders get 500,000,000 BIPs and
AGS holders get 500,000,000 BIPs

A BIP will start out as 1/125 shares, but as dividends are paid by destroying shares this number will gradually erode.

This means if you start out holding, say, 1000 BIPS you'll watch that number grow as dividends are paid instantly every time a transaction takes place somewhere in the world and a grain of XTS dust is destroyed and split among all shareholders and delegate employees.

Computational efficiency and instant gratification are the bottom line.

Title: Re: 8M or 4M BTS?
Post by: bitbro on April 15, 2014, 02:30:09 am
Assuming world wide adoption, how quickly would the one billion bip supply reach half life? And what would you do about it reaching that point or some other lower point?


Sent from my iPhone using Tapatalk
Title: Re: 8M or 4M BTS?
Post by: bytemaster on April 15, 2014, 02:34:55 am
Assuming world wide adoption, how quickly would the one billion bip supply reach half life? And what would you do about it reaching that point or some other lower point?


Sent from my iPhone using Tapatalk

The beauty of bips is that there is no half life... there is always 1 billion bips.    Shares on the other hand depends upon the profitability of the individual DAC.
Title: Re: 8M or 4M BTS?
Post by: jwiz168 on April 15, 2014, 02:42:30 am
Sorry guys for missing this . But I want to know how much bitshare from the snapshot? Originally, it was 4 million shares. But as I saw the specs on the website, it is 8 million. What is the final number of shares for bitshare?

First, it doesn't really matter since all DACs transact in BIPs - as a billionth of the total shares in circulation. 

Second, since it doesn't really matter, we thought we might as well go with a lucky number that our Chinese friends have recommended. 

Hence the 8,000,000 shares = 1,000,000,000 BIPS.

That means, for XTS,
PTS holders get 500,000,000 BIPs and
AGS holders get 500,000,000 BIPs

A BIP will start out as 1/125 shares, but as dividends are paid by destroying shares this number will gradually erode.

This means if you start out holding, say, 1000 BIPS you'll watch that number grow as dividends are paid instantly every time a transaction takes place somewhere in the world and a grain of XTS dust is destroyed and split among all shareholders and delegate employees.

Computational efficiency and instant gratification are the bottom line.


ok let me break this down.

After Feb 28 snapshot
 
         total coins /coins generated          percentage stake@bts
PTS -2,000,000 / 1,500,000   =                1.33
AGS -2,000,000/ 600,000 =                      3.33


If I have 20 AGS and applied the 4M cap scenario I will basically have 66.6 BTS

Now with related to 8,000,000 shares, how much value in BIPS if I have initially 66.6 BTS after snapshot?


Title: Re: 8M or 4M BTS?
Post by: Stan on April 15, 2014, 02:45:02 am
Sorry guys for missing this . But I want to know how much bitshare from the snapshot? Originally, it was 4 million shares. But as I saw the specs on the website, it is 8 million. What is the final number of shares for bitshare?

First, it doesn't really matter since all DACs transact in BIPs - as a billionth of the total shares in circulation. 

Second, since it doesn't really matter, we thought we might as well go with a lucky number that our Chinese friends have recommended. 

Hence the 8,000,000 shares = 1,000,000,000 BIPS.

That means, for XTS,
PTS holders get 500,000,000 BIPs and
AGS holders get 500,000,000 BIPs

A BIP will start out as 1/125 shares, but as dividends are paid by destroying shares this number will gradually erode.

This means if you start out holding, say, 1000 BIPS you'll watch that number grow as dividends are paid instantly every time a transaction takes place somewhere in the world and a grain of XTS dust is destroyed and split among all shareholders and delegate employees.

Computational efficiency and instant gratification are the bottom line.


ok let me break this down.

After Feb 28 snapshot
 
         total coins /coins generated          percentage stake@bts
PTS -2,000,000 / 1,500,000   =                1.33
AGS -2,000,000/ 600,000 =                      3.33


If I have 20 AGS and applied the 4M cap scenario I will basically have 66.6 BTS

Now with related to 8,000,000 shares, how much value in BIPS if I have initially 66.6 BTS after snapshot?

Multiply by 125.
Title: Re: 8M or 4M BTS?
Post by: jwiz168 on April 15, 2014, 02:47:33 am
Sorry guys for missing this . But I want to know how much bitshare from the snapshot? Originally, it was 4 million shares. But as I saw the specs on the website, it is 8 million. What is the final number of shares for bitshare?

First, it doesn't really matter since all DACs transact in BIPs - as a billionth of the total shares in circulation. 

Second, since it doesn't really matter, we thought we might as well go with a lucky number that our Chinese friends have recommended. 

Hence the 8,000,000 shares = 1,000,000,000 BIPS.

That means, for XTS,
PTS holders get 500,000,000 BIPs and
AGS holders get 500,000,000 BIPs

A BIP will start out as 1/125 shares, but as dividends are paid by destroying shares this number will gradually erode.

This means if you start out holding, say, 1000 BIPS you'll watch that number grow as dividends are paid instantly every time a transaction takes place somewhere in the world and a grain of XTS dust is destroyed and split among all shareholders and delegate employees.

Computational efficiency and instant gratification are the bottom line.


ok let me break this down.

After Feb 28 snapshot
 
         total coins /coins generated          percentage stake@bts
PTS -2,000,000 / 1,500,000   =                1.33
AGS -2,000,000/ 600,000 =                      3.33


If I have 20 AGS and applied the 4M cap scenario I will basically have 66.6 BTS

Now with related to 8,000,000 shares, how much value in BIPS if I have initially 66.6 BTS after snapshot?

Multiply by 125.


 +5%

...to the moon it will go  8)
Title: Re: 8M or 4M BTS?
Post by: toast on April 15, 2014, 02:48:36 am
For 20 AGS:

before share supply doubles:
20*3.33 = 66.6 BTS = 16,650 BIPS of BTS
after share supply doubles:
20*3.33*2 = 133.33 BTS = 16,650 BIPS of BTS


I'm getting double what stan says which is 125*66.6 = 8,325

edit: I think stan used pre-double 66.6 BTS but post-double 8,000,000
Title: Re: 8M or 4M BTS?
Post by: luckybit on April 15, 2014, 03:06:42 am
Sorry guys for missing this . But I want to know how much bitshare from the snapshot? Originally, it was 4 million shares. But as I saw the specs on the website, it is 8 million. What is the final number of shares for bitshare?

First, it doesn't really matter since all DACs transact in BIPs - as a billionth of the total shares in circulation. 

Second, since it doesn't really matter, we thought we might as well go with a lucky number that our Chinese friends have recommended. 

Hence the 8,000,000 shares = 1,000,000,000 BIPS.

That means, for XTS,
PTS holders get 500,000,000 BIPs and
AGS holders get 500,000,000 BIPs

A BIP will start out as 1/125 shares, but as dividends are paid by destroying shares this number will gradually erode.

This means if you start out holding, say, 1000 BIPS you'll watch that number grow as dividends are paid instantly every time a transaction takes place somewhere in the world and a grain of XTS dust is destroyed and split among all shareholders and delegate employees.

Computational efficiency and instant gratification are the bottom line.

As long as our proportions stay the same it actually doesn't really matter. Although it doesn't make a lot of sense why this change would be made so quietly. I've been regularly reviewing the code and I didn't even notice this.
Title: Re: 8M or 4M BTS?
Post by: xeroc on April 15, 2014, 04:36:47 am
I thought keyhotee found also get some shares .. what happend with those?
Title: Re: 8M or 4M BTS?
Post by: toast on April 15, 2014, 04:45:12 am
I thought keyhotee found also get some shares .. what happend with those?

those are given a "day" of AGS, the AGS fundraiser only goes for 199 days
Title: Re: 8M or 4M BTS?
Post by: xeroc on April 15, 2014, 04:50:06 am
Ahh ... right I forgot about that ..
Title: Re: 8M or 4M BTS?
Post by: vlight on April 15, 2014, 09:13:46 am
Thanks for clarifying this.  :D
Title: Re: 8M or 4M BTS?
Post by: mf-tzo on April 15, 2014, 12:44:27 pm
Sorry just to double check I understood correctly:

4 mil (PTS - AGS)= 8 million BTS shares = 1 bil BIPS and therefore

20 AGS = 20 x 3.33 x 2 = 133.2 shares = 16,650 BIPS 

and

20 PTS = 20 x 1.33 x 2 = 53.2 shares = 6,650 BIPS

Please advise if I miss understood something...