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Messages - FelixO

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General Discussion / Re: BTS-->BTS X-->BTS ME-->BTS YOU-->BTS HIM-->?
« on: March 17, 2014, 03:57:42 pm »
I have to say I share OP's worry.

Invictus has so far been given more than 4170 bitcoins (according to agsexplorer) which at the current rate of about 630$ USD each totals to more than 2.6 Million US Dollars.
For what exactly? Up to now only promises.

The two ags explorers where developed by other people, logos where designed by other people, wasn't even PTS - the only real product for now - created by other people?

I am not implying I know anything about the true motives of the people behind 3I but from the persepective of a lightweight investor, this whole operation has various warning signs of an elaborate rip-off scheme.

General Discussion / Re: Confusing Bitshare / Pts
« on: February 21, 2014, 06:06:13 am »
I am surprised by the sudden switch to german   :)

As an Austrian I can only endorse it though  +5%  :D

I have to agree with Adam here. This is definitely an issue.

Also this announcement with the change of such an important decision has come out far too close to the snapshot. Why did you plan such an important thing not ahead, or the other way, why the rush if things are not completely planned?

Well maybe "divert" was the wrong word, what I mean is that it is a shifting of value from one project to the next with the promise of the next project only to realize that it's objective is to create value for the next project and so on..

Therefore I want to know: Will PTS and AGS remain as the only fundraising shares or are there more to come?

This is a vital information for any investor.

Additionaly, if one planned on investing in AGS after Feb 28th with the intention of getting a share in later chains, then one is now stuck with far fewer BTS due to the inevitable increased funding. I think this decision arose far too close to the final snapshot date.

Also does this decision imply, that if one wanted to enter ANY of the future chains on Bitshares X (through shares) then one needs to be part of the Feb 28 snapshot? Because that would without a doubt sharply decrease the value of PTS and AGS, seeing as Bitshares X is arguably your most high profile project at the moment.

But again: Will PTS and AGS remain as the only fundraising shares or are there more to come? I think this is absolut vital information for any investor.

I do not think this is a good idea.

First there were PTS which were issued with the claim that they would present the holder with a share in every new DAC. Then there came AGS with exactly the same claim and by that diverting value from PTS. Now if you use only the Feb 28th snapshot for every new chain that the value of AGS and PTS has again been further diverted, this time to the snapshot for BTS.
I think his evokes the danger of appearing to raise money for a product to raise money for a product to raise money etc..

I am unsure how to feel about this. How many more fundraising Shares etc will be issued?
Are PTS and AGS the final two for every new DAC or will there be more?

Of course PTS and AGS still offer a share in every new DAC but given that Bitshares X is arguably your most high profile project at the moment, I think the incentive to keep these two will be very low after one has BTS.

thanks bytemaster!

Do I understand this correctly?

If I want Angelshares that are awarded with BTS I need to purchase (via donation) them definitely before Feb 28, correct?

What happens with donations that are sent out after this date?

I'd like to participate as well, please!  :D


BitShares AGS / Re: The real difference between AGS and PTS
« on: January 27, 2014, 07:59:34 pm »
Whats the 5:1?

Bitshares to Protoshares


2 million BTSX will be distributed among 1.2-1.3m PTS; making almost 1.3 BTSX/PTS.
2 million BTSX will be distributed among 0.6-2m AGS; making anything between 3-1 BTSX/AGS.

Personally I am optimistic we will get at least 2+ BTSX/AGS. If not, I will round up the fellow AGS donors, grab some pitchforks and gasoline, and head over to Bytemaster's castle.

Yes I keep reading references towards a 5:1 distribution but your explanation seems to contain more reasonable numbers. It's quite hard to find such essential informations. There really should be a place where all important informations like this are gathered in an easily accessible and understandable way, without having to spend hours digging through countless forum posts. (with the abundance of intellect in this crowd this is admittedly fun though  ;) )

That aside, I am still unsure whether I should donate BTC or buy more PTS. What do you guys think, is there a ratio of PTS/AGS that you strive for, or do you essentially prefer one over the other?
Also, are AGS useable after the introduction of BTS, in the same way I would still be able to use my ProtoShares or are they 'gone' after this process and merely represent the amount of individual donations for BTS?

Thank You for that fast reply, much appreciated!

I am also frankly a bit concerned. Are we at least being assured that there will be no more new fund-raising shares issued that would compete with the existing ones?

So has the spending value of my stake as a ProtoShare holder been reduced through the introduction of Angelshares? I see that the awarded percentage of BitsharesX was raised to 5:1 but because of the imminent split of the pot with Angelshare holders that raise can evidently not be profound. Or has the total number of to be awarded BitsharesX also been raised?

Also, sorry if that information is redundant but, do I need to donate my Protoshares in order to receive BitsharesX? I thought this transition was designed to happen smoothly inside my wallet where I am encouraged to hold my PTS at the issue date of BTS

Please excuse me not being up date, but 3I is without a doubt a boiling pot of ideas and concepts and I recognise now that me not reading this forum for a few weeks has left me with a lot to catch up with

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