Should we continue to funding mining of PTS?

[businiao]

do it

[mf-tzo]

The only reason not to end PTS would be the negative publicity effect that will have the drop in price after the snapshot. Otherwise I see absolutely no reason whatsoever to keep mining PTS and having those costs. IHMO this potentially negative publicity will not be that much of a problem if only a small portion of the costs saved are used in marketing. I don't think that many people will buy PTS with no value anyway after the snapshot and those who will, will be people who don't care at all about what is happening here and will only buy them because they notice something really cheap suddenly. Therefore I definitely support ending PTS.

Many people still don't understand how PTS works. If by now they are not interested in PTS they will never be. These people will always speculate when the DAC is launched or at best in the IPOs of the DACs.
Many didn't understood AGS in the beginning (including myself).
Everyone wish now they had understood AGS prior to the 28th snapshot.

Everyone will wish in the future to have understood PTS before the November 5th snapshot. We are in the beginning not in the end.

In the end of the day, If you own PTS you get c13% more than any AGS shareholder in all future DACs assuming equal distribution by giving up your liquidity as AGS shareholders did long time ago.

It's about time that this ends now, so we get rid of people who dump shares upon launching of every DAC and PTS goes to stronger hands willing to buy them now because they see the full potential of the future DACs.

I really don't see why would anyone be opposed to ending PTS.

[Ggozzo]

If you let PTS die, you need to make sure people save their private keys forever offline. I can see a lot of people deleting their PTS wallets along with the privkey and back ups causing some PR issues.

[valtr]

I think the final snapshot is a good idea. Unprofitable abandoned mining could be a dangerous problem and may arise quickly. Or not? What do you think?

[biophil]

My thoughts, as someone who discovered bitshares in September:

If PTS had been forever closed to me at the time I discovered bitshares, I wouldve been very frustrated.  I would not have continued investigating bitshares, and I would not have bought a bunch of PTS and BTSX.

If you lock out everyone who does not currently have AGS or PTS from EVER acquiring a stake in the genesis shares of new DACs, then you will cause a huge number of people who discover us later to feel they have missed the boat, that they cannot participate in these new DACs, and they will leave, and not become members of the bitshares community.

So I think it is critical that we do NOT forever shut off any way to buy into the PTS/AGS genesis shares of new DACs.

Also, if we did that, and PTS then went to 0, there would be a TON of people out there going "Bitshares is dead, the price is zero".  You would see BTSX go back to 1 cent, purely based on idiots who didnt understand anything dumping.  People outsdie our community dont understand the difference between PTS and BTSX, they would see PTS go to 0 and would then forever avoid this whole bitshares thing.

**************

That said, obviously continuing to waste money on mining is bad, so we should either:

1) Convert PTS to DPoS.
or
2) Combine AGS/PTS into a new 'Bitshare' unit, and have this be DPoS.

Whatever it is, it needs to be tradable, so that newcomers can buy in.

 

Excellent, compelling arguments.

I do not like the idea of closing PTS; it's a pretty cool story to give everybody the chance to buy in to the possibility of the next big thing. Maybe a counter-argument is that they can buy into any of the other proto-DACs they want; the problem with this is it requires research and it's really great to have a nice technology-agnostic staking coin like PTS so people can speculate on the idea of the whole DAC industry.

[Ander]

This is perhaps the most compelling argument.  I love watching PTS run up the coinmarketcap flagpole to announce the birth of an new DAC.

Absolutely this.

And the opposite effect will occur if you cause PTS to die and go to 0. 

[testz]

...
how I see it, best will be to upgrade PTS difficulty retargeting and let it mine to 2M, after all is mined transfer it to DPOS as an asset

Did you know that if even we fix the difficulty, to mine to 2M (300 000 left) of PTS will take additional year from today?
PS: If we don't fix difficulty, it's also take year but network speed (block producing rate) will vary as today.

[Ander]

My thoughts, as someone who discovered bitshares in September:

If PTS had been forever closed to me at the time I discovered bitshares, I wouldve been very frustrated.  I would not have continued investigating bitshares, and I would not have bought a bunch of PTS and BTSX.

If you lock out everyone who does not currently have AGS or PTS from EVER acquiring a stake in the genesis shares of new DACs, then you will cause a huge number of people who discover us later to feel they have missed the boat, that they cannot participate in these new DACs, and they will leave, and not become members of the bitshares community.

So I think it is critical that we do NOT forever shut off any way to buy into the PTS/AGS genesis shares of new DACs.

Also, if we did that, and PTS then went to 0, there would be a TON of people out there going "Bitshares is dead, the price is zero".  You would see BTSX go back to 1 cent, purely based on idiots who didnt understand anything dumping.  People outsdie our community dont understand the difference between PTS and BTSX, they would see PTS go to 0 and would then forever avoid this whole bitshares thing.

**************

That said, obviously continuing to waste money on mining is bad, so we should either:

1) Convert PTS to DPoS.
or
2) Combine AGS/PTS into a new 'Bitshare' unit, and have this be DPoS.

Whatever it is, it needs to be tradable, so that newcomers can buy in. 

[serejandmyself]

PTS has finished its mission and it is time to stop.

At what place and time has its finished its mission?! 

Not that this was the point of my argument, but never the less PTS has only just BEGUN its mission. People are right - finish the mining, go to DPOS and assets.....

[bigcat]

PTS has finished its mission and it is time to stop. Fully support this proposal.
Only concern is 11/05 may be too soon for those who don't actively follow the posts. Probably better to allow longer time. It doesn't have to be exactly on the anniversary which only gives an aesthetically better looking number.

[Kenof]

It's silly because to the outworld community (people who dont understand bitshares) it will show a crack in the system of bitshares. People dont get whats for what in our system, they see bitshares as one whole thing. If one falls (and thats how it would be viewd by outsiders when it "shuts down"), people will be warry of bying into other DACS - you guys must look at it from outside, as if you dont really understand the concept and you are an average crypto user. Its a BAD idea.... (not saying that keeping to mine them is good)

 

completely agree with you

also think these revisions are hurting bitshares as well as III, look at Adam B. Levine, he is right about many things related to original ideas

how I see it, best will be to upgrade PTS difficulty retargeting and let it mine to 2M, after all is mined transfer it to DPOS as an asset

original plan was to leave PTS liquid, so leave it liquid

[sschechter]

It doesn't have to been seen as shutting down, but rather upgraded to a better technology and simplified genesis distribution model. The new asset could be called Seeds which combines AGS/PTS

Bitshares Seeds
SeedShares
BitSeeds
SeedShares

I've had this idea too, except I would just call the one proto unit a BitShare

[serejandmyself]

It's silly because to the outworld community (people who dont understand bitshares) it will show a crack in the system of bitshares. People dont get whats for what in our system, they see bitshares as one whole thing. If one falls (and thats how it would be viewd by outsiders when it "shuts down"), people will be warry of bying into other DACS - you guys must look at it from outside, as if you dont really understand the concept and you are an average crypto user. Its a BAD idea.... (not saying that keeping to mine them is good)

This is a very powerful argument.

glad it made sence 

[Brekyrself]

Why not let all 2m be mined as originally planned and in the mean time concentrate on BTSX and the other DAC's?  All this talk about PTS is taking away from time on current DAC's as nothing really needs to be done short term.

[Pheonike]

It doesn't have to been seen as shutting down, but rather upgraded to a better technology and simplified genesis distribution model. The new asset could be called Seeds which combines AGS/PTS

Bitshares Seeds
SeedShares
BitSeeds
SeedShares