Author Topic: What does a fair allocation of Bitshares to BTSX/AGS/PTS holders look like?  (Read 12387 times)

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Offline matt608

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+5% 10%/10%/80% is great!

as i understand it bitshares vote will also exist, but not with support of bytemaster. what he wants is to create all planed feature then for the BTS chain and want that "Adam" (vote guy?) to agree to join the BTS boat.

I thought vote is going to be running on the same BTS chain.

Offline Ander

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BM and I bounced the number "~16%" for PTS+AGS (+ small for DNS) around because it uses the value at which BTSX seemed to be stable for a long time ($75m for BTSX), also it is halfway between it's current price and ATH.

Yes, I prefer this 16% (or 18% or whatever) number personally (it benefits me slightly).  It more evenly allocates the value based on the market caps at the time.  I made option B because I figured the PTS/AGS people would think this was unfair and would want a bit more. :)
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Offline Shentist

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BM and I bounced the number "~16%" for PTS+AGS (+ small for DNS) around because it uses the value at which BTSX seemed to be stable for a long time ($75m for BTSX), also it is halfway between it's current price and ATH.

Yes, I prefer this 16% (or 18% or whatever) number personally (it benefits me slightly).  It more evenly allocates the value based on the market caps at the time.  I made option B because I figured the PTS/AGS people would think this was unfair and would want a bit more. :)

i am BTSX /AGS and no PTS holder - but with the merger you will strip my AGS from the right to get 10% for every chain in the future. on the day of the proposal the BTSX market cap was under 50 million, so how would 75 million be fair?

so maybe you want count PTS before the last snapshot to get back to 10% ?

just to count BTSX on the best possible market cap and PTS to the lowest will not be happen.

Offline GaltReport

Will any of these options reduce current BTSX holders shares by number or percentage of the whole or both?

Offline Ander

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i am BTSX /AGS and no PTS holder - but with the merger you will strip my AGS from the right to get 10% for every chain in the future. on the day of the proposal the BTSX market cap was under 50 million, so how would 75 million be fair?

Actually, the newly merged BTS should be the entity that provides shares in future DACs.  After all, WE ARE MERGING PTS AND AGS INTO IT! 

So the social consensus in the future changes from:
10% PTS/10%AGS/80% Dev.
to:
20% BTS/80% Dev.

BTS is not ONLY the new BTSX.  It is also the new 'proto/angel' shares!  Because we are merging!


So you are not stripped of your ability to get 10% of new DACs.

You would get BTS due to your BTSX shares, and due to your AGS shares.  And then you would get stake in new independant DACs based on those shares, because PTS and AGS would be no more!


At least that is my interpretaiton.  I could be wrong!  Someone please tell me if I am. :)

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just to count BTSX on the best possible market cap and PTS to the lowest will not be happen.

Actually, this is counting BTSX with its recent diminshed market cap, no where near its high at $100M. 
And the PTS market cap went down because you got VOTE and DNS out of it.  (And BTSX, if pre- Feb 28)
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Offline Rune

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Will any of these options reduce current BTSX holders shares by number or percentage of the whole?

Yes, but the total market cap will also increase proportionally, so the share price will stay the same. It is just like a merger or acquisition of real businesses.

Offline Ander

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Will any of these options reduce current BTSX holders shares by number or percentage of the whole or both?

They all will.

But you will have a smaller part of a larger whole.
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Offline GaltReport

Will any of these options reduce current BTSX holders shares by number or percentage of the whole or both?

They all will.

But you will have a smaller part of a larger whole.
By % of the total ? 

Edit: Just wondering what difference will people see ?  In their wallet or in marketcap type numbers?  Will they see less BTSX in their wallet is really the question?
« Last Edit: October 20, 2014, 09:58:55 pm by GaltReport »

Offline Ander

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By % of the total ?

Thats unclear right now.  We need to get a consensus on the fair percentages for everyone.
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Offline roadscape

Edit: Just wondering what difference will people see ?  In their wallet or in marketcap type numbers?  Will they see less BTSX in their wallet is really the question?

Your balance will remain the same. Market cap will increase by several million. Your balance will increase when you claim your PTS/AGS allocated shares.
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Offline GaltReport

Edit: Just wondering what difference will people see ?  In their wallet or in marketcap type numbers?  Will they see less BTSX in their wallet is really the question?

Your balance will remain the same. Market cap will increase by several million. Your balance will increase when you claim your PTS/AGS allocated shares.

Okay, thanks.  That's what I thought. Sounds good.

Offline Shentist

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i am BTSX /AGS and no PTS holder - but with the merger you will strip my AGS from the right to get 10% for every chain in the future. on the day of the proposal the BTSX market cap was under 50 million, so how would 75 million be fair?

Actually, the newly merged BTS should be the entity that provides shares in future DACs.  After all, WE ARE MERGING PTS AND AGS INTO IT! 

So the social consensus in the future changes from:
10% PTS/10%AGS/80% Dev.
to:
20% BTS/80% Dev.

BTS is not ONLY the new BTSX.  It is also the new 'proto/angel' shares!  Because we are merging!


So you are not stripped of your ability to get 10% of new DACs.

You would get BTS due to your BTSX shares, and due to your AGS shares.  And then you would get stake in new independant DACs based on those shares, because PTS and AGS would be no more!


At least that is my interpretaiton.  I could be wrong!  Someone please tell me if I am. :)

Quote
just to count BTSX on the best possible market cap and PTS to the lowest will not be happen.

Actually, this is counting BTSX with its recent diminshed market cap, no where near its high at $100M. 
And the PTS market cap went down because you got VOTE and DNS out of it.  (And BTSX, if pre- Feb 28)

correct, but you should account that BTSX is aquiring AGS and PTS because bytemaster will not serve more then one master and he said with the planed features VOTE will a tough competitor of BTSX. so i don't need this aquisition because i hold shares in every DAC through my AGS shares, but the BTSX holders need AGS and PTS to refocus bytemaster to only one chain. so you could say , only if AGS and PTS are joining forces with BTSX  - BTS will be formed and bytemasters focus will resettel to BTS.

i did't calculated which allocation will be better for me, because i allready increased my BTSX holding in the past, but we all should consider what AGS and PTS holders is promised and that is 10% of a new chain, and that is a new chain as far as i see it.

Offline Ander

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i did't calculated which allocation will be better for me, because i allready increased my BTSX holding in the past, but we all should consider what AGS and PTS holders is promised and that is 10% of a new chain, and that is a new chain as far as i see it.

This was my proposal B.    It is slightly better for PTS/AGS holders than proposal A, which was a purely market cap based calculation.

By the way, if you had some AGS before, and then bought more BTSX after Fed 28, then you are benefitted more by proposal A than by B.
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Offline mf-tzo

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pre - 28th snapshot 0% on new BTS obviously

after 28th snapshot 30% / 10% / 60%  AGS / PTS / BTSX.

The reason I believe in this allocation is because one should take into account the opportunity cost from the lack of liquidity to AGS and one shouldn't take into account the high valuation of BTSX @ $75 mil and the low of PTS @ 5 mil. AGS valuation should be much more than $5 mil imho...

Offline GaltReport

It's amazing how far people are willing to spin things based on their own personal investment.