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There has been talk of a potential BTC ETF in the works. Would this compete with BTS? Is this seen as a major threat to the viability of BTS?BTC ETF is just a way for ordinary investors who don't want to deal with the technicalities of Bitcoin own a piece of the Bitcoin pie.
Once you redeem your BTS from your PTS, is there any point in holding onto PTS? Also, once PTS are already used to redeem BTS, can they not be used again? So someone buying PTS won't know if they're getting PTS+BTS or just PTS?You never lose your PTS, you'll just get additional shares in every DAC. So say if you're holding on to 100 PTS at the launch, after the launch of BitShares, you'll have 100 PTS + 100 BTS. The value of PTS might fall but it still has value because Invictus or other community members might come up with other DACs in the future and honor the same social contract of giving initial shares to PTS holders. Invictus has publicly announced their social contract - every DAC they create will be forked from ProtoShares which means by holding ProtoShares, you get a share of each of the Invictus DACs in the future. That's why they're valuable.
That's great to hear. After the Keyhotee is up and running, I suppose this is your priority#1?All the three are unique in their own right, although they do overlap in several spheres. That being said, I'd really like BTS to be the first to the market.
You and me both! I think I have a deal that will grow double our development team and add some very skilled c++ developers to the mix. Full speed ahead!
Got it. I wonder how many other people weren't aware of this.You are correct, there is 1% inflation after 2 years. Which is really no different than Bitcoin which will have over 1% inflation for the rest of its useful lifeHow? Inflation as in there will be more ProtoShares mined/created after 2 million limit has been reached?
There is a minimum block reward which is designed to keep people mining even if there is low transaction volume (and thus low fees). Remember, ProtoShares were not designed to grow to Bitcoin size volume and fees.
2 Million was just a rough estimate of total shares after which point the growth in the money supply is insignificant.
You are correct, there is 1% inflation after 2 years. Which is really no different than Bitcoin which will have over 1% inflation for the rest of its useful lifeHow? Inflation as in there will be more ProtoShares mined/created after 2 million limit has been reached?
https://www.cryptsy.com/markets/view/119That's great!
they just add protoshares..
Ok good, take my word for it, I am a stakeholder! Looking forward to see what you've got planned.Fair enough, although I was thinking more in terms of relative investment too - if all you hold is 900 PTS, perhaps you feel you have a lot of stake in this. In any case, I guess in this case, the original question stands - how can you prove someone has more than 1000 PTS?lol how can you prove that you have more than 1000pts?I don't think that's the point. 1000 or 990 or 100 doesn't matter. If you hold enough that you feel you have a stake in this future, you should join I guess)
It does matter to some extent until we have infrastructure that reduces overhead enough to allow small investors to participate efficiently. I have some ideas on this. It also matters because someone with $7000 on the line has far more incentive to invest time and money than someone with $100 on the line.
Right now I am taking your word
Thanks for the reassurance.They are not 'shorts' just because they are selling their PTS. They make an economic decision based on immediate parameters, minimizing their risk. If they can sell PTS for a cost above the electricity costs/other costs of operations, they will come out ahead and sell. Kinda like arbitrageurs.
I believe that Invictus have a exceptionally good product and therfore the incentive for holding bitshares shouls deter the 'shorts'.
cheers
kw
Fair enough, although I was thinking more in terms of relative investment too - if all you hold is 900 PTS, perhaps you feel you have a lot of stake in this. In any case, I guess in this case, the original question stands - how can you prove someone has more than 1000 PTS?lol how can you prove that you have more than 1000pts?I don't think that's the point. 1000 or 990 or 100 doesn't matter. If you hold enough that you feel you have a stake in this future, you should join I guess
It does matter to some extent until we have infrastructure that reduces overhead enough to allow small investors to participate efficiently. I have some ideas on this. It also matters because someone with $7000 on the line has far more incentive to invest time and money than someone with $100 on the line.
lol how can you prove that you have more than 1000pts?I don't think that's the point. 1000 or 990 or 100 doesn't matter. If you hold enough that you feel you have a stake in this future, you should join I guess
