Author Topic: Fix for DNS Holders who lost money buying into DNS  (Read 36084 times)

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sumantso

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All those who bought at Bter are out of luck? All those who claimed after the announcement and sold are also at a loss?

The gainers are those who claimed earlier and sold immediately after the announcement. They got a good price and some free DNS.

Or have I misunderstood it all completely?

I don't think there are any losers except those with funds on the exchange and US.  Those with funds on an exchange were "traders"... those who bought in the days prior and withdrew to hold are OK... those who bought or sold after the announcement are also OK.

What about all those who bought in immediately after the announcement; all those who had the higher than current price buy orders?

Anyone buying after the announcement was doing so in a market with the information available.  Cannot make all trades profitable. 

You are assuming they were all sitting there with their face glued here waiting for any announcement. There were buy orders which were just set there.

Offline bytemaster

All those who bought at Bter are out of luck? All those who claimed after the announcement and sold are also at a loss?

The gainers are those who claimed earlier and sold immediately after the announcement. They got a good price and some free DNS.

Or have I misunderstood it all completely?

I don't think there are any losers except those with funds on the exchange and US.  Those with funds on an exchange were "traders"... those who bought in the days prior and withdrew to hold are OK... those who bought or sold after the announcement are also OK.

What about all those who bought in immediately after the announcement; all those who had the higher than current price buy orders?

Anyone buying after the announcement was doing so in a market with the information available.  Cannot make all trades profitable. 
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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 Ander

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You should try to talk to the exchanges and see if they can get the shares to the right people - because those were the main people who were actually hurt by this.
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sumantso

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All those who bought at Bter are out of luck? All those who claimed after the announcement and sold are also at a loss?

The gainers are those who claimed earlier and sold immediately after the announcement. They got a good price and some free DNS.

Or have I misunderstood it all completely?

I don't think there are any losers except those with funds on the exchange and US.  Those with funds on an exchange were "traders"... those who bought in the days prior and withdrew to hold are OK... those who bought or sold after the announcement are also OK.

What about all those who bought in immediately after the announcement; all those who had the higher than current price buy orders?

Offline bytemaster

All those who bought at Bter are out of luck? All those who claimed after the announcement and sold are also at a loss?

The gainers are those who claimed earlier and sold immediately after the announcement. They got a good price and some free DNS.

Or have I misunderstood it all completely?

I don't think there are any losers except those with funds on the exchange and US.  Those with funds on an exchange were "traders"... those who bought in the days prior and withdrew to hold are OK... those who bought or sold after the announcement are also OK.   
For the latest updates checkout my blog: http://bytemaster.bitshares.org
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 Networks

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This matter is very complicated. I lost two-thirds of the money. CNY 0.0092 to buy 7 million dns

Offline bitcoinerS

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How would this work?  won't most of this then just go to the exchange addresses?  How will it make its way to individual users?

It doesn't help those with balances on the exchange at the snapshot date... cannot help everyone though I try.

If exchanges don't distribute compensation funds to users with DNS (like me), then they pocket our money.
>>> approve bitcoiners

sumantso

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All those who bought at Bter are out of luck? All those who claimed after the announcement and sold are also at a loss?

The gainers are those who claimed earlier and sold immediately after the announcement. They got a good price and some free DNS.

Or have I misunderstood it all completely?

Offline matt608

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(Hate to sound like a broken record but I hope a Chinese translation is out there)


Offline mf-tzo

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 +5% +5% +5% for this! IMHO no one has ever done this to cover the losses of people so I am speechless..

Once I saw the announcement and saw people dumping their DNS I panicked, claimed my shares and sold them since I thought that DNS will have no value anymore. I sold them at 0.0000011-0.0000013  :(

Offline bobb

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I'm trying to see if bter and btc38 can do retroactive snapshots
At this point in time that may be asking a lot in cost benefit...  We already narrowed the cost down to $325K which assuming only 20% was on exchanges we are talking $60,000. 

I guess the 20% assumption may not quite be correct, since it took you at least a week to get out 10M DNS for example.
They had low daily withdrawal limits, which is part of the reason I still have more on it than I would have otherwise.
Again: not complaining here, just trying to help with facts.
Thanks for you efforts!

Offline Shentist

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I'm trying to see if bter and btc38 can do retroactive snapshots

At this point in time that may be asking a lot in cost benefit...  We already narrowed the cost down to $325K which assuming only 20% was on exchanges we are talking $60,000.  The cost to the exchanges exceeds all fees they might have earned... it was our issue not theirs.    Lets save our relationship with the exchanges first by minimizing the amount of disruption we cause them.

ah I see, so i am out again, because the extra bought DNS i hold on the BTER account. tx for the efforts. i wish i bought more BTSX and not one more DNS. But i am so stupid to buy this worthless crap and i thought it will takle Namecoin. If you all not realize it, this was reality 2 days before , so my investment decision was based on this vision told from Bytemaster, Toast and I3.

But you see, my poste are going to be a little be cooler, not so hot and angry anymore. I can handle this, but i will not learn from it, because in the future i will trust someone again and hopefully BTS will fullfill this promise.

i feel that the pressure is rising for I3 Team, because now it is only on egg in the basket and failures will be much worth then in the vision before.
« Last Edit: October 22, 2014, 07:30:27 pm by Shentist »

Offline bytemaster

I'm trying to see if bter and btc38 can do retroactive snapshots

At this point in time that may be asking a lot in cost benefit...  We already narrowed the cost down to $325K which assuming only 20% was on exchanges we are talking $60,000.  The cost to the exchanges exceeds all fees they might have earned... it was our issue not theirs.    Lets save our relationship with the exchanges first by minimizing the amount of disruption we cause them.
For the latest updates checkout my blog: http://bytemaster.bitshares.org
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 biophil

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I'm trying to see if bter and btc38 can do retroactive snapshots

I think I recall Bter had trouble finding historical balances for the Lottoshares snapshots... Hopefully it's recent enough that won't be a problem.
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Offline werneo

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If yes, then I don't know... Did you move the funds around? Did you vote? If you just left them in your AGS private keys without moving them, I don't know the answer to your question... Anybody else?

I suppose (!) that if you only imported the keys into your wallet this will not have been noticed by the blockchain, IOW the genesis transactions are still sitting in the genesis blocks. If, however, you "moved them around" by voting or otherwise sending them to a different address they will definitely have been moved from the genesis block. Lucky me. Hopefully.

I must say, this is indeed a *very* clever move by bm. The people who are most loudly complaining about his proposal are also the most likely to have touched their genesis stake. So this proposed "fix" is very well targeted.

The only people we need to make whole are those who bought in after launch. Those are necessarily shares that moved.

I guess it's a moot question. But for the record, I CLAIMED the DNS. I did not move them from my KeyID wallet.