Thanks Ander!

Apologies if I am rehashing old questions.

So then, DACs would generate user assets, of which some percentage would be distributed to the old PTS/AGS holders (or are those now bitshares holders?)  And transaction fees of these DAC user assets would still be expressed in bitshares, which is used in turn to compensate "investors", or holders of bitshares?

Still not entirely clear on BTS coin supply strategy.  bitsharesblocks shows 2.5 billion BTS - with 500m unclaimed.  Where are the 2 billion, and how will the 500 m be claimed?

Sorry if I am being daft! 

Hey everyone,

Been having a poke around trying to learn about this seemingly amazing technology, but I've got a number of holes in my understanding of how things work.

Can anyone explain to me how exactly new tokens are created, and how they arrive at their value?  Is it crowd funded?  Are the tokens pegged somehow to bitshares?  If so, how does the conversion to the new token work exactly?

I understand also that new DACs are encouraged to honor holders of PTS/AGS (BitsharesXT now?) with 10% of the company.  If so, how does that tie in to the above?  And how does/would the community differentiate between those DACs that honor this social agreement, and those that don't?

I'm also confused as to how the bitshares money supply works.  The entire amount was premined I reckon - what percentage went to Protoshare holders?  Who holds the unallocated bitshares?  How are these meant to be released into the bitshares ecology?

I would appreciate any help with the above!

Cheers all, glad to be here