Author Topic: Proposed Allocation for Merger  (Read 49333 times)

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Offline biophil

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@BM : Merge or change is ok for me. Your proposed allocation is not my favor though but I will follow the majority. But this topic is a "price sensitive news", SO PLEASE NOTIFY any price sensitive news at least 24 hours ahead (a brief summary with no negative/positive effect). Everyone needs to have a fair start. I do not want to wake up and see DNS price dump to nothing...... which I think will be at least about Namecoin market cap in month ....

 +5% to this guy. I was lucky enough to catch this news in time to save my DNS stake from dying, but obviously most people weren't so fortunate.

BM, you carry enough clout around here to have changed the market value of DNS by about 50% today, by fiat. Please carefully consider the effects of your announcements and try to make the smallest number of people mad.
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Offline bobohuy

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@BM : Merge or change is ok for me. Your proposed allocation is not my favor though but I will follow the majority. But this topic is a "price sensitive news", SO PLEASE NOTIFY any price sensitive news at least 24 hours ahead (a brief summary with no negative/positive effect). Everyone needs to have a fair start. I do not want to wake up and see DNS price dump to nothing...... which I think will be at least about Namecoin market cap in month ....

Offline bytemaster

I just report summarized version of BM's post on Korean community (outside of this forum). I will bring their feedback when it's available.

Personally, I strongly support the consolidation, but 2 year vesting period appears to be little bit harsh (How about a year?)

You can get liquid in 1 year for half the shares...

Liquidity isn't where it should be now. So how is locking shares down going to help the internal market?  Most people who will have locked shares are ones who participate in the market the most.  I hope you reconsider the vesting period and take it off the table. I would hate to see a lagging market only to be hard forked to wipe away the vesting period.
We are not locking down BTSX shares.
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Ggozzo

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I just report summarized version of BM's post on Korean community (outside of this forum). I will bring their feedback when it's available.

Personally, I strongly support the consolidation, but 2 year vesting period appears to be little bit harsh (How about a year?)

You can get liquid in 1 year for half the shares...

Liquidity isn't where it should be now. So how is locking shares down going to help the internal market?  Most people who will have locked shares are ones who participate in the market the most.  I hope you reconsider the vesting period and take it off the table. I would hate to see a lagging market only to be hard forked to wipe away the vesting period.

Offline clayop

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That will be their call and voters decision to elect them as delegates... I won't make that call.

Thanks. I respect you because you're going to enter in the 'strait gate and narrow way', not 'wide gate and broad way'.
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Offline bytemaster

Will Music be joined to the super DAC, or are you still considering? There is external capital influx in Music, so I think that merging Music into super DAC would be more difficult than other DACs.

That will be their call and voters decision to elect them as delegates... I won't make that call.
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Offline donkeypong

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Will Music be joined to the super DAC, or are you still considering? There is external capital influx in Music, so I think that merging Music into super DAC would be more difficult than other DACs.

As I understand things, Music is considering it but will take some time to decide.

Offline clayop

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Will Music be joined to the super DAC, or are you still considering? There is external capital influx in Music, so I think that merging Music into super DAC would be more difficult than other DACs.
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Offline bytemaster

i wil say it again - this is not a merger.

all the DNS buyers on BTER got screwed big time. only BTSX are cared, but we only do it because bytemaster was on the move to VOTE. sorry i don't buy it. i just lost a big junk of my invested money without need. i invested in AGS because i liked the competing DACs. My bad, that most of my money was invested after the BTSX snapshot. So my portion in BTSX was small. I bought a couple of BTSX on BTER.

So i was just happy to see my taken risk gotten be rewarded with the coming DACs DNS and Vote , Music as well. Play will come and now we "vote" to merge. But my stakes has no votes. i am delitued the most.

- my after the BTSX AGS snapshot got not much
- my DNS are valued nothing
- my VOTE are valued nothing

question is why we are doing this? just to simplify anything? sorry i don't buy it. the whole merger is in big favor of all the supporters before the BTSX snapshot.

why not just throw BTSX away take a fair AGS Snapshot and allocte PTS in some way?

i can tell, because it will upset the big fish who are invested before the BTSX snapshot and will get in the new BTS chain less then now.

don't call it a merger - it is not!

every promise was broken.

i am in favor of the idea, but how the AGS/PTS + DNS + VOTES are treated is shameful.

on this emerging mumble session bytemaster said "no, only AGS and PTS will be merged with BTSX" just a couple hours BTSX is thucking everything in.

sry, that i am upset, but if you "merge" someone has to lose and that's me.

I understand how you feel.  There are no easy answers, but the best I have for you is this:  BTSX could have evolved without giving DNS anything and then competed with DNS.    No merger, no buy out, just competition in a free market.   Would that have been breaking any promises?   Would you have lost more or less money as a result?

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Anything said on these forums does not constitute an intent to create a legal obligation or contract between myself and anyone else.   These are merely my opinions and I reserve the right to change them at any time.

Offline Shentist

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i wil say it again - this is not a merger.

all the DNS buyers on BTER got screwed big time. only BTSX are cared, but we only do it because bytemaster was on the move to VOTE. sorry i don't buy it. i just lost a big junk of my invested money without need. i invested in AGS because i liked the competing DACs. My bad, that most of my money was invested after the BTSX snapshot. So my portion in BTSX was small. I bought a couple of BTSX on BTER.

So i was just happy to see my taken risk gotten be rewarded with the coming DACs DNS and Vote , Music as well. Play will come and now we "vote" to merge. But my stakes has no votes. i am delitued the most.

- my after the BTSX AGS snapshot got not much
- my DNS are valued nothing
- my VOTE are valued nothing

question is why we are doing this? just to simplify anything? sorry i don't buy it. the whole merger is in big favor of all the supporters before the BTSX snapshot.

why not just throw BTSX away take a fair AGS Snapshot and allocte PTS in some way?

i can tell, because it will upset the big fish who are invested before the BTSX snapshot and will get in the new BTS chain less then now.

don't call it a merger - it is not!

every promise was broken.

i am in favor of the idea, but how the AGS/PTS + DNS + VOTES are treated is shameful.

on this emerging mumble session bytemaster said "no, only AGS and PTS will be merged with BTSX" just a couple hours BTSX is thucking everything in.

sry, that i am upset, but if you "merge" someone has to lose and that's me.

Offline pariah99

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If you want to cash in your DNS/PTS, you are doing so at a heavy discount due to money leaving those currencies after BM's announcement.  Eventually, it will equilibrate, but I don't see the added need to attach a vesting period.

The only currency transfer that I believe should have a vesting period are *definitely* AGS and probably VOTE, since it's not liquid yet.

Offline bytemaster

Personally, I strongly support the consolidation, but 2 year vesting period appears to be little bit harsh (How about a year?)
You can get liquid in 1 year for half the shares...

Yes, this is an issue of proportion, IMO. Unless there's special reasons, everyone prefer 1-year maximum period to 2-year one. Could you provide more reasons that justify 2-year vesting period?

To keep the average dilution rate lower combined with the fact that PTS represented an asset that would have had DACs taking snapshots off of it over years.   

What is the value of PTS... the value is in the DACs that would be built. 

Those that want liquidity have it now and the market is setting the price of liquidity... over the next 2 weeks PTS price will fall to a ratio with BTSX that is discounted by the value of liquidity. 

PTS is now guaranteed to be worth a certain amount of BTSX in 2 years... that is a larger value proposition than having no guarantees of any future DACs at all. 
 
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Offline clayop

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Personally, I strongly support the consolidation, but 2 year vesting period appears to be little bit harsh (How about a year?)
You can get liquid in 1 year for half the shares...

Yes, this is an issue of proportion, IMO. Unless there's special reasons, everyone prefer 1-year maximum period to 2-year one. Could you provide more reasons that justify 2-year vesting period?
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Offline oco101

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DNS gets only 3% unfairly. VOTE didn't had a market cap so it would be hard to argue, but DNS was valued at 200 satoshis minimum and had ~$4M market cap.

But only $10K in liquidity.   We could have easily sold enough vote to push its price down to a value far lower than it is at today... and we would have done that had we chosen to simply compete rather than buy them out.   Buying out DNS was a gesture of good will that was mainly done because it was 90%+ AGS/PTS snapshot once we remove the developer funds from it.

BM, how close are we to this particular allocation being set in stone? My investment strategy is hanging in the balance.

I don't expect to change it, it is already priced in.

maybe it's better to move "80% BTSX" below the sentence containing "2 year" because it's still confusing even says remain liquid....

Yes good idea. It's still confusing right now.

Offline Geneko

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Guys,

There is lot of games (i.e. Game Theory) going on here. Arguments are not the only card in this game. It is impossible to resolve it by democratic means.

On the other hand B.M has its Vision having hard time to draw picture for all. Although I disapprove with pragmatic nature of his deciding this is probably territory from where his genius come from. 
 
Bottom line is: Do we trust this guy or not?

I say Yes and going to act accordingly.
Good Luck