Author Topic: Proposed Allocation for Merger  (Read 43294 times)

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Offline biophil

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Re: Proposed Allocation for Merger
« Reply #120 on: October 21, 2014, 09:19:44 pm »
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.
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Offline bytemaster

Re: Proposed Allocation for Merger
« Reply #121 on: October 21, 2014, 09:21:33 pm »
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.
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Offline biophil

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Re: Proposed Allocation for Merger
« Reply #122 on: October 21, 2014, 09:23:06 pm »
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.

The liquidity premium isn't even close to priced-in; also, DNS is trading significantly above parity with BTSX and PTS is trading a bit below. People are still hedging that you're going to change your mind.
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Offline bobb

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Re: Proposed Allocation for Merger
« Reply #123 on: October 21, 2014, 09:39:13 pm »
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.   

where do you take the $10K figure from? there was at least 50M volume in the drop alone on btc38 (CNY and BTC)

Offline clayop

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Re: Proposed Allocation for Merger
« Reply #124 on: October 21, 2014, 09:40:54 pm »
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.

Did BM confirm this?
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Offline xeroc

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Re: Proposed Allocation for Merger
« Reply #125 on: October 21, 2014, 09:44:02 pm »
No vesting period on BTSX.

Did BM confirm this?
He just did on the mumble talk ..

BTSX will STILL BE TRADABLE!!!

Offline clayop

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Re: Proposed Allocation for Merger
« Reply #126 on: October 21, 2014, 09:44:45 pm »
No vesting period on BTSX.

Did BM confirm this?
He just did on the mumble talk ..

BTSX will STILL BE TRADABLE!!!

Great news! Thanks!
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Offline clayop

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Re: Proposed Allocation for Merger
« Reply #127 on: October 21, 2014, 09:49:44 pm »
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?)
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Offline bytemaster

Re: Proposed Allocation for Merger
« Reply #128 on: October 21, 2014, 09:50:37 pm »
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...
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Offline biophil

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Re: Proposed Allocation for Merger
« Reply #129 on: October 21, 2014, 09:52:06 pm »
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...

And is the idea of this to be a continuous linear vesting, so after 2 days I get (1/365) of the shares?
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Offline Ander

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Re: Proposed Allocation for Merger
« Reply #130 on: October 21, 2014, 09:53:17 pm »
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.   

where do you take the $10K figure from? there was at least 50M volume in the drop alone on btc38 (CNY and BTC)

I think he got it from bter volume.

But btc38 is bigger htan bter and had more volume.

$100k worth of liquidity is more accurate than 10k I think.
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Offline Geneko

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Re: Proposed Allocation for Merger
« Reply #131 on: October 21, 2014, 09:55:17 pm »
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

Offline oco101

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Re: Proposed Allocation for Merger
« Reply #132 on: October 21, 2014, 09:55:36 pm »
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 clayop

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Re: Proposed Allocation for Merger
« Reply #133 on: October 21, 2014, 09:56:13 pm »
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 bytemaster

Re: Proposed Allocation for Merger
« Reply #134 on: October 21, 2014, 10:00:47 pm »
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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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.