Author Topic: Questions about delegates  (Read 1457 times)

0 Members and 1 Guest are viewing this topic.

Offline Thom

Re: Questions about delegates
« Reply #15 on: November 04, 2014, 06:43:05 pm »
Q5: There is no selling of BTSX. All BTSX were initially allocated to PTS/AGS owners. There are some "unclaimed" - meaning they belong to someone but that someone hasn't transferred it yet. You can see the amount of unclaimed BTSX at www.bitsharesblocks.com (also there is a lot of useful info there)

Q8a: All unspent outputs that voted when they were last moved.

Q5: Interesting, I don't recall ever seeing this mentioned, is it in the wiki somewhere? I looked at the bitsharesblocks.com site which lists a total supply of 1,999,902,838 and unclaimed of 662,319,002. The difference is 1,337,583,836. Why is the total supply such an odd number?

I'm also puzzled by your statements "There is no selling of BTSX" & "All BTSX were initially allocated to PTS/AGS owners". What exactly do you mean? I can obviously "sell" or transfer any BTSX I have in my wallet.

Are you saying that if I obtained my BTSX from an exchange the exchange obtained them from one or more of the original investors?

This uncovers yet another gap in my understanding, that being how BTSX (or any type of blockchain "coin|share|note|thingy..." are created in the first place. Are you saying the genesis block "defines" the total number of outstanding shares and who owns them, and in the case of BTSX the genesis block lists all of the account keys for the PTS and AGS investors that existed when the genesis block started the BTSX blockchain? But the code is what allows for diluting, which just means increasing the maximum niumber of shates|coins|etc, right?

If a "block" is a group of transactions, what transactions make up the genesis block if it is purely a definition of the total pool of BTSX and the account keys of the owners of the BTSX in that pool?

Q8a: what ndo you mean by "unspent outputs"?

And  +5% to emski for taking the time to answer these questions.
« Last Edit: November 04, 2014, 06:51:03 pm by Thom »
Injustice anywhere is a threat to justice everywhere - MLK |  Verbaltech2 Witness Reports: https://bitsharestalk.org/index.php/topic,23902.0.html

Offline Pheonike

Re: Questions about delegates
« Reply #16 on: November 04, 2014, 06:51:36 pm »

There was a donation period like Bitshares Music has now (in fact you can see it on http://www1.agsexplorer.com if you scoll down), called AGS. There was snapshot that gave 50% of BTSX to AGS users proportional to there donations and 50% given to PTS the same way. This accounted for the full 100% distribution of BTSX at genesis.

Offline Thom

Re: Questions about delegates
« Reply #17 on: November 04, 2014, 07:02:43 pm »

There was a donation period like Bitshares Music has now (in fact you can see it on http://www1.agsexplorer.com if you scoll down), called AGS. There was snapshot that gave 50% of BTSX to AGS users proportional to there donations and 50% given to PTS the same way. This accounted for the full 100% distribution of BTSX at genesis.

Thanks, I do recall seeing that. When you say 50% in "proportion to" does that mean 50% of all contributions made to the PTS|AGS fund, so that if I put in $1000 and there was a total of $5,000,000 invested, I would get 0.0002% of BTSX (0.0002% of 2 billion total shares = 400,000 shares) ?
Injustice anywhere is a threat to justice everywhere - MLK |  Verbaltech2 Witness Reports: https://bitsharestalk.org/index.php/topic,23902.0.html

Offline speedy

  • Hero Member
  • *****
  • Posts: 1160
    • View Profile
  • BitShares: speedy
Re: Questions about delegates
« Reply #18 on: November 04, 2014, 07:12:29 pm »
It wasnt quite that simple. There was a number of shares given per day, given out proportionally to the BTC or PTS that were donated in that particular day.

So every 24 hours you had to donate and hope that no one else did to get the most shares for your BTC / PTS.

Offline Pheonike

Re: Questions about delegates
« Reply #19 on: November 04, 2014, 07:13:38 pm »
There were 2bil shares. 1bil for AGS holders and 1bil for pts.  If you donated AGS, you get a portion of the 1bil based on your AGS donation compared to all AGS donations.

Offline Thom

Re: Questions about delegates
« Reply #20 on: November 04, 2014, 07:21:06 pm »
Thx speedy. Just asking as an example of the numbers, but forgot how complicated the original investment scheme was with the daily contributions and all.

Makes me really wonder why they did it that way.
Injustice anywhere is a threat to justice everywhere - MLK |  Verbaltech2 Witness Reports: https://bitsharestalk.org/index.php/topic,23902.0.html

Offline emski

  • Hero Member
  • *****
  • Posts: 1283
    • View Profile
    • http://lnkd.in/nPbhxG
Re: Questions about delegates
« Reply #21 on: November 04, 2014, 07:39:44 pm »
Are you saying that if I obtained my BTSX from an exchange the exchange obtained them from one or more of the original investors?

Yes.

Q5: Interesting, I don't recall ever seeing this mentioned, is it in the wiki somewhere? I looked at the bitsharesblocks.com site which lists a total supply of 1,999,902,838 and unclaimed of 662,319,002. The difference is 1,337,583,836. Why is the total supply such an odd number?

Initial distribution was 2B distributed 50%/50% to PTS/AGS holders. Some of the trx fees paid are destroyed which results in lower than 2B total supply.

This uncovers yet another gap in my understanding, that being how BTSX (or any type of blockchain "coin|share|note|thingy..." are created in the first place. Are you saying the genesis block "defines" the total number of outstanding shares and who owns them, and in the case of BTSX the genesis block lists all of the account keys for the PTS and AGS investors that existed when the genesis block started the BTSX blockchain? But the code is what allows for diluting, which just means increasing the maximum niumber of shates|coins|etc, right?

Yes. Dilution is not yet enabled. There are some ongoing discussions about that.

If a "block" is a group of transactions, what transactions make up the genesis block if it is purely a definition of the total pool of BTSX and the account keys of the owners of the BTSX in that pool?

There are no transactions in genesis block. Just a list of keys and balances.

Q8a: what ndo you mean by "unspent outputs"?

Any transaction moves BTSX from one address to another. Unspent output is a BTSX amount that is not included as input to any transaction included in blockchain.
(Transaction has input(s) and output (and change address)).
Basically this is the BTSX anyone has received but hasn't spent. All unspent outputs combined equal total supply (assuming no bugs).

Offline Thom

Re: Questions about delegates
« Reply #22 on: November 04, 2014, 11:00:18 pm »
+5% +5% to emski for your patience with these newbie level questions and your very thorough response  :)

Injustice anywhere is a threat to justice everywhere - MLK |  Verbaltech2 Witness Reports: https://bitsharestalk.org/index.php/topic,23902.0.html