Author Topic: Proposed Allocation for Merger  (Read 46071 times)

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Offline Stan

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It will not disturb the markets in progress any more than one of our recent upgrades.
Anything said on these forums does not constitute an intent to create a legal obligation or contract of any kind.   These are merely my opinions which I reserve the right to change at any time.

Offline NewMine

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Do AGS holders have to claim BTSX and DNS before the merger?  There is still no safe way to do this without exposing private keys.

No need to claim on other chains.

Can my bitUSD be carried over to the new DAC?

Offline joele

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7%*2.5Bil/1.648Mil  is ~ 106 per PTS

BTSX price now is 0.0000682
0.0000682*106 = 0.0072 PTS

Offline blahblah7up

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Do AGS holders have to claim BTSX and DNS before the merger?  There is still no safe way to do this without exposing private keys.

No need to claim on other chains.   

Thanks

Offline bytemaster

Do AGS holders have to claim BTSX and DNS before the merger?  There is still no safe way to do this without exposing private keys.

No need to claim on other chains.   
For the latest updates checkout my blog: http://bytemaster.bitshares.org
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Offline GaltReport

I have a very simplistic view of this whole VOTE was going to be bigger than BTSX thing.  To me, the whole VOTE "thing" is just a useful metaphor/vehicle.  Bottom line is is that BM is driven to create his vision.  That vision naturally changes as we learn more.  Would be crazy if it didn't.  Whether through VOTE or simply through forking it himself...BM (or as he would say, "our competitors" which includes possibly BM himself) wants the freedom to create the vision (including the changed vision!)  that many of us bought into.  I say he's earned it.

Edit:  That's why I don't pay too much attention to the VOTE analysis.
« Last Edit: October 21, 2014, 08:46:40 pm by GaltReport »

Offline Stan

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One sentence on how VOTE will eclipse and Kill BTSX.  Just one sentence, no secrets, no slippery slope, no pie in the sky. One sentence with a fact or even a plausible theory.

Are you blindly following?

Here's a news flash, VOTE WILL NEVER ECLIPSE BTSX? VOTE has zero monetary potential. If Bytemaster wants to leave BTSX and devote all time to VOTE, so be it. Remember he and the I3 others have the largest stake to lose. Has I3 ever canvassed for a new Dev to help out? I certainly never saw a call. I am afraid something is going on behind science we are not privy to.

NewMine, we can always count on you for a good dose of bluster.

Nobody here knows what VOTE is all about. Nobody has anything other than vague hypotheses.

This is what happened, as far as I can guess: BM got really excited about VOTE the other day, and wouldn't tell us why. Then, behind the scenes, he started working on it, and his friends said "hey! stop it! BTSX isn't done yet!" And BM replied and said "But BTSX is boring! How about we figure out a way to roll the VOTE features into BTSX so that I don't have to split my time between what's boring and what's exciting?"

I bet dollars to donuts that's essentially what happened. Stan was exaggerating when he said VOTE would kill BTSX, but the idea was sound: if BM is going to work on both, everything would work better if he could work on them simultaneously.

Disclaimer: I have no idea what happened behind the scenes. I made all that up, but it's my story and I'm sticking to it.

I'll take that donut bet!

Answered already here:

Quote
No, the answer is much simpler than that:  He simply didn't want BTSX to die:
https://bitsharestalk.org/index.php?topic=10279.msg134808#msg134808

Guys:  It didn't have to be VOTE.  Any new DAC that Bytemaster chose to work on next to honor his commitments to AGS/PTS holders would be built using (as duty would require) all his lessons learned.  That means it would be designed to compete for max Network Effect.  It would have whatever features the new DAC had plus Dynamic Value Infusion plus bitAssets.

VOTE has a neat secret sauce for adding to BTSX network effect so it would win.

But any DAC Dan chose to do next would be a SuperDAC.  Even if it just had a cute doge meme.

Then there would be no more DACs after that because he would have built the best thing he now knows how to do:  a DAC that doesn't have rules that keep it from competing with everything it's got.  A DAC that is aggressively flexible.  A DAC that can receive every good infusion of technology that ever pops up.  So BTSX can either merge and enjoy the benefits or sit out and watch SuperDuperDogeDAC suck all the air out of the room.

So there.  Sorry it was more than "Just one sentence, no secrets, no slippery slope, no pie in the sky. One sentence with a fact or even a plausible theory.'"
 :)
« Last Edit: October 21, 2014, 08:49:30 pm by Stan »
Anything said on these forums does not constitute an intent to create a legal obligation or contract of any kind.   These are merely my opinions which I reserve the right to change at any time.

Offline blahblah7up

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Do AGS holders have to claim BTSX and DNS before the merger?  There is still no safe way to do this without exposing private keys.

Offline Pheonike

Once sentence on why VOTE would eclipse BTSX...

VOTE was shaping up to have all of the features of BTSX + DNS + Bazzar + VOTE's market strategy + all of the developers.  Why was it going to get all of the developers, because Adam had a 30% stake with which to hire us all and Agent 86 was making a compelling case of the need for dilution and developers with a major stake. 

Why... because BTSX was DAC Sun's chain, had a development budget that was capped, and had no ability to raise capital. 

Because people were starting to freak out that VOTE with that feature set and team would be a threat to BTSX and starting to dump BTSX on the mere rumor.

What happened to all the money raised through AGS?  Are you paying yourselves through AGS and then DACsun is paying you too? Serious question, no implications.

I was under the impression AGS was for the toolkit and BTSX (the flagship DAC). Did you run out of money?

*side note

What happens to my bitUSD in BTSX? Are you going to force me to sell when the merger happens or will my bitUSD transfer over?

Its still there. If you know you have $50 dollars but need $100, do you what until the $50 is gone before raising the next $50? No you start raising the next $50 while you have the original $50.

Offline xeroc

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VOTE was shaping up to have all of the features of BTSX + DNS + Bazzar + VOTE's market strategy + all of the developers.  Why was it going to get all of the developers, because Adam had a 30% stake with which to hire us all and Agent 86 was making a compelling case of the need for dilution and developers with a major stake. 
+5%
But: stop talking .. competitors are listening :)

Offline Method-X

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The more I think about capital infusion the more I like it.. in hindsight.

The finance masters all say the perfect currency is one which ties supply to growth(GDP)... and this would be the closest thing to that. It wouldn't keep growing supply needlessly but based on demand based on a consensus for a new technology.

 +5%

Offline NewMine

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Once sentence on why VOTE would eclipse BTSX...

VOTE was shaping up to have all of the features of BTSX + DNS + Bazzar + VOTE's market strategy + all of the developers.  Why was it going to get all of the developers, because Adam had a 30% stake with which to hire us all and Agent 86 was making a compelling case of the need for dilution and developers with a major stake. 

Why... because BTSX was DAC Sun's chain, had a development budget that was capped, and had no ability to raise capital. 

Because people were starting to freak out that VOTE with that feature set and team would be a threat to BTSX and starting to dump BTSX on the mere rumor.

What happened to all the money raised through AGS?  Are you paying yourselves through AGS and then DACsun is paying you too? Serious question, no implications.

I was under the impression AGS was for the toolkit and BTSX (the flagship DAC). Did you run out of money?

*side note

What happens to my bitUSD in BTSX? Are you going to force me to sell when the merger happens or will my bitUSD transfer over?

** also

That 30% is worthless and you have no idea what it will be priced at. Unless I missed something. You guys working on contingency is you working for free until something is realized later on. So I am sorry to say that funds to pay the Dev team isn't a valid reason.
« Last Edit: October 21, 2014, 08:46:19 pm by NewMine »

Offline jsidhu

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The more I think about capital infusion the more I like it.. in hindsight.

The finance masters all say the perfect currency is one which ties supply to growth(GDP)... and this would be the closest thing to that. It wouldn't keep growing supply needlessly but based on demand based on a consensus for a new technology. Democratized money supply growth.
« Last Edit: October 21, 2014, 08:36:44 pm by jsidhu »
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Offline Ander

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Quote
2 year vesting period... ie: you can withdraw early for a fraction of your cut.. if you want to sell after 6 months you get 25%... if you wait for a year you get 50%... etc. 

Is the vesting period for btsx, dns, Vote, AGS and PTS?

No vesting period on BTSX.
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Offline vlight

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I calculate that DNS needs to be about 75 satoshis.  (Unless BTSX goes up).


You are correct.  I did it wrong, multiplying by .03 for DNS and .07 for PTS.  But I needed to multiply by .03/.80 and .07/.80, because BTSX is getting 80%.


New numbers:
DNS should be 95 satoshis (at BTSX 6300 sat).
PTS should be 6600 satoshis (at BTSX 6300 sat).


PTS is already there, and has been for the past day.
DNS drops a bit more.

And none of those numbers account for liquidity premium, which for a 2 year vesting period should be significant. If the current plan is finalized, we could easily see both PTS and DNS drop by another 25% to 50%. IMO.

Should have been:
7% VOTE
7% DNS
8% PTS
8% AGS
70% BTSX

 ::)