Author Topic: Now I'm completely confused. What exactly is going on with PTS, BTSX, BTS???  (Read 7669 times)

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Offline islandking

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QUESTION: If PTS price plummeted as for all intents and purposes it is useless right now, why hasn't the BTSX price plummeted equally? If there was a merger then wouldn't both be useless and worthless now and only BTS(when it's released, based on your holdings of both PTS and BTSX, be useful and valuable?
There was no merger but share drop by BTSX.
PTS has plummeted as Invictus has withdrawn support and BTSX did not as Invictus will continue to develop it and support it under new name BitShares.

Could you elaborate on this no merger but sharedrop with some simple details as I keep reading different things. Will there be BTS and BTSX? When BTS is released will then BTSX be far less valuable? What is the reason to hold BTSX now or in the future if it does exist along with BTS? WHen will BTS be released? etc.

BTSX will become BTS so if you have 100 BTSX right now you will have 100 BTS. Nothing changes except for the name. They are just changing the name from BTSX to BTS. Hope that clears it up for you :)

It does. TY very much

No problem :) I was confused as well a few days ago.
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Offline bitcoinnoisseur

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QUESTION: If PTS price plummeted as for all intents and purposes it is useless right now, why hasn't the BTSX price plummeted equally? If there was a merger then wouldn't both be useless and worthless now and only BTS(when it's released, based on your holdings of both PTS and BTSX, be useful and valuable?
There was no merger but share drop by BTSX.
PTS has plummeted as Invictus has withdrawn support and BTSX did not as Invictus will continue to develop it and support it under new name BitShares.

Could you elaborate on this no merger but sharedrop with some simple details as I keep reading different things. Will there be BTS and BTSX? When BTS is released will then BTSX be far less valuable? What is the reason to hold BTSX now or in the future if it does exist along with BTS? WHen will BTS be released? etc.

BTSX will become BTS so if you have 100 BTSX right now you will have 100 BTS. Nothing changes except for the name. They are just changing the name from BTSX to BTS. Hope that clears it up for you :)

It does. TY very much

Offline islandking

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QUESTION: If PTS price plummeted as for all intents and purposes it is useless right now, why hasn't the BTSX price plummeted equally? If there was a merger then wouldn't both be useless and worthless now and only BTS(when it's released, based on your holdings of both PTS and BTSX, be useful and valuable?
There was no merger but share drop by BTSX.
PTS has plummeted as Invictus has withdrawn support and BTSX did not as Invictus will continue to develop it and support it under new name BitShares.

Could you elaborate on this no merger but sharedrop with some simple details as I keep reading different things. Will there be BTS and BTSX? When BTS is released will then BTSX be far less valuable? What is the reason to hold BTSX now or in the future if it does exist along with BTS? WHen will BTS be released? etc.

BTSX will become BTS so if you have 100 BTSX right now you will have 100 BTS. Nothing changes except for the name. They are just changing the name from BTSX to BTS. Hope that clears it up for you :)
I've been working on a new electronic cash system that's fully peer-to-peer, with no trusted third party. - Satoshi

Offline bitcoinnoisseur

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QUESTION: If PTS price plummeted as for all intents and purposes it is useless right now, why hasn't the BTSX price plummeted equally? If there was a merger then wouldn't both be useless and worthless now and only BTS(when it's released, based on your holdings of both PTS and BTSX, be useful and valuable?
There was no merger but share drop by BTSX.
PTS has plummeted as Invictus has withdrawn support and BTSX did not as Invictus will continue to develop it and support it under new name BitShares.

Could you elaborate on this no merger but sharedrop with some simple details as I keep reading different things. Will there be BTS and BTSX? When BTS is released will then BTSX be far less valuable? What is the reason to hold BTSX now or in the future if it does exist along with BTS? WHen will BTS be released? etc.

Offline vegolino

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QUESTION: If PTS price plummeted as for all intents and purposes it is useless right now, why hasn't the BTSX price plummeted equally? If there was a merger then wouldn't both be useless and worthless now and only BTS(when it's released, based on your holdings of both PTS and BTSX, be useful and valuable?
There was no merger but share drop by BTSX.
PTS has plummeted as Invictus has withdrawn support and BTSX did not as Invictus will continue to develop it and support it under new name BitShares.

Offline bitcoinnoisseur

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I know there was a snapshot on 11/5. I know that there will only be BTS. However when I was reading I didn't come across anything warning me that PTS price would plummet fore good and that I should sell them all either before the snapshot and buy BTSX or right after the snapshot. All I read was that I would receive BTS for the PTS in my wallet. Incorrectly and naively I assumed that PTS just wouldn't be traded anymore as it wouldn't exist. I have lost thousands by holding my PTS. Why would anyone hold them and why would anyone buy them after the snapshot? I have to say that this whole thing has become a clusterfuck. Names and shares constantly changing, DAC's existing but being abandoned and becoming worthless, airdrops, conversions and rate changes, wallet files needing to be imported or not imported to get shares etc. I have NO idea what the hell this is all about anymore nor what even the name of this thing is I'm invested in as it constantly changes. So PLEASE PLEASE PLEASE can someone explain to me in somewhat simple terms exactly what is going on. Thank you.

From an outsiders point of view, it is confusing. I run a crypto group with around 3600+ people, and I can assure you that most don't understand this, at all, so they are very wary of it. They ask me to explain it, but frankly I don't want to risk giving them some bad advice, so I tell them to just go here and figure it out for themselves. It might be simple for some traders, but compared to just buying Bitcoin, it isn't.

I don't own any, and I am not even sure which one I should be buying or dropping as I have not been paying enough attention. It just appears too much like a game of Three-Card Monte. That said, I think the tech and ideas are fascinating. However, I am more concerned about the marketing and investors getting burned for not understanding it well enough. That is why I don't recommend it much, yet.

Why would anyone invest/trade on something he doesn't take time to understand... if you just randomly chose things to throw money at just based on the market cap, you shouldn't be very surprised to have surprises.

I agree it's really time consuming to follow what's happening here, but it's not even officially released. The merger was a correction on the direction to take, and it was based on an excellent analysis of what would happen in the future if it didn't happen. People that didn't agree with this analysis sold, hence the recent big drop in price. Now the developers and marketers can focus on a very clear product, that will be pushed in the next weeks/months.

Some people (i.e. alphaBar) spread some confusion and make the message very unclear, that's sad, but it should be over soon when the leading team pushes the new unified product.

QUESTION: If PTS price plummeted as for all intents and purposes it is useless right now, why hasn't the BTSX price plummeted equally? If there was a merger then wouldn't both be useless and worthless now and only BTS(when it's released, based on your holdings of both PTS and BTSX, be useful and valuable?

Offline inarizushi

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I know there was a snapshot on 11/5. I know that there will only be BTS. However when I was reading I didn't come across anything warning me that PTS price would plummet fore good and that I should sell them all either before the snapshot and buy BTSX or right after the snapshot. All I read was that I would receive BTS for the PTS in my wallet. Incorrectly and naively I assumed that PTS just wouldn't be traded anymore as it wouldn't exist. I have lost thousands by holding my PTS. Why would anyone hold them and why would anyone buy them after the snapshot? I have to say that this whole thing has become a clusterfuck. Names and shares constantly changing, DAC's existing but being abandoned and becoming worthless, airdrops, conversions and rate changes, wallet files needing to be imported or not imported to get shares etc. I have NO idea what the hell this is all about anymore nor what even the name of this thing is I'm invested in as it constantly changes. So PLEASE PLEASE PLEASE can someone explain to me in somewhat simple terms exactly what is going on. Thank you.

From an outsiders point of view, it is confusing. I run a crypto group with around 3600+ people, and I can assure you that most don't understand this, at all, so they are very wary of it. They ask me to explain it, but frankly I don't want to risk giving them some bad advice, so I tell them to just go here and figure it out for themselves. It might be simple for some traders, but compared to just buying Bitcoin, it isn't.

I don't own any, and I am not even sure which one I should be buying or dropping as I have not been paying enough attention. It just appears too much like a game of Three-Card Monte. That said, I think the tech and ideas are fascinating. However, I am more concerned about the marketing and investors getting burned for not understanding it well enough. That is why I don't recommend it much, yet.

Why would anyone invest/trade on something he doesn't take time to understand... if you just randomly chose things to throw money at just based on the market cap, you shouldn't be very surprised to have surprises.

I agree it's really time consuming to follow what's happening here, but it's not even officially released. The merger was a correction on the direction to take, and it was based on an excellent analysis of what would happen in the future if it didn't happen. People that didn't agree with this analysis sold, hence the recent big drop in price. Now the developers and marketers can focus on a very clear product, that will be pushed in the next weeks/months.

Some people (i.e. alphaBar) spread some confusion and make the message very unclear, that's sad, but it should be over soon when the leading team pushes the new unified product.
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Offline cryptocc

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I know there was a snapshot on 11/5. I know that there will only be BTS. However when I was reading I didn't come across anything warning me that PTS price would plummet fore good and that I should sell them all either before the snapshot and buy BTSX or right after the snapshot. All I read was that I would receive BTS for the PTS in my wallet. Incorrectly and naively I assumed that PTS just wouldn't be traded anymore as it wouldn't exist. I have lost thousands by holding my PTS. Why would anyone hold them and why would anyone buy them after the snapshot? I have to say that this whole thing has become a clusterfuck. Names and shares constantly changing, DAC's existing but being abandoned and becoming worthless, airdrops, conversions and rate changes, wallet files needing to be imported or not imported to get shares etc. I have NO idea what the hell this is all about anymore nor what even the name of this thing is I'm invested in as it constantly changes. So PLEASE PLEASE PLEASE can someone explain to me in somewhat simple terms exactly what is going on. Thank you.

From an outsiders point of view, it is confusing. I run a crypto group with around 3600+ people, and I can assure you that most don't understand this, at all, so they are very wary of it. They ask me to explain it, but frankly I don't want to risk giving them some bad advice, so I tell them to just go here and figure it out for themselves. It might be simple for some traders, but compared to just buying Bitcoin, it isn't.

I don't own any, and I am not even sure which one I should be buying or dropping as I have not been paying enough attention. It just appears too much like a game of Three-Card Monte. That said, I think the tech and ideas are fascinating. However, I am more concerned about the marketing and investors getting burned for not understanding it well enough. That is why I don't recommend it much, yet.

Offline bitcoinnoisseur

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It would help having a simple reference table for the DACs, listing key data about what snapshots have occurred; when; and how those honored the social contract relative to PTS/AGS/BTSX/BTS. There are already too many threads of complexity in BitShares let alone other flavours of crypto-assets, to expect most investors to watch all the detail. Just knowing which are considered within core dev team remit and which are seen as third party would be useful.

Perhaps such detail could be put into the wallet GUI? So that holders of BTS can see what is pending and what stage that is at. Anything to make the positives more visible will help.  8)

There already is one. I was directed to it a few months ago:

Keeping track of projects that make use of your PTS

https://bitsharestalk.org/index.php?topic=1425.0

Offline alphaBar

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PTS is alive and well and so is the social consensus. PTS will be the preferred sharedrop instrument of future 3rd party DACs. We have yet to decide whether to use the Nov. 5th snapshot (since a future snapshot may not be possible if mining stops completely), but rest assured that we have a functional testnet, new website and marketing in the works, and an active group of dedicated developers and marketers. Stay tuned for more information...

Offline fuzzy

It would help having a simple reference table for the DACs, listing key data about what snapshots have occurred; when; and how those honored the social contract relative to PTS/AGS/BTSX/BTS. There are already too many threads of complexity in BitShares let alone other flavours of crypto-assets, to expect most investors to watch all the detail. Just knowing which are considered within core dev team remit and which are seen as third party would be useful.

Perhaps such detail could be put into the wallet GUI? So that holders of BTS can see what is pending and what stage that is at. Anything to make the positives more visible will help.  8)

Great idea.  I'm for anything that makes it easier for newbies to the ecosystem and everyone else should be too imho.

While we are at it, can we also add Encyclopædia Britannica to the GUI, please. Very useful for newbies and everybody else imho.

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Offline Ander

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I agree. :)


I was just doubling down on tony's comment.
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Offline davidpbrown

:D

You jest but the DAC space offering that beats all others, will accommodate the greater number of users and make it easy to fall into. BitShares needs to become fool-proof not just full-proof. There is low hanging fruit making certain aspects more obvious. Obviously at a point such work becomes more effort than it returns but if we get another +5% population, that might be all the edge BitShares needs to dominate the major DAC types.
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Offline Ander

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While we are at it, can we also add Encyclopædia Britannica to the GUI, please. Very useful for newbies and everybody else imho.

:D

Indeed.  Also, lets hand feed any newbie traders some expert level technical analysis  and provide buy and sell signals, all in the client. :)
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zerosum

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It would help having a simple reference table for the DACs, listing key data about what snapshots have occurred; when; and how those honored the social contract relative to PTS/AGS/BTSX/BTS. There are already too many threads of complexity in BitShares let alone other flavours of crypto-assets, to expect most investors to watch all the detail. Just knowing which are considered within core dev team remit and which are seen as third party would be useful.

Perhaps such detail could be put into the wallet GUI? So that holders of BTS can see what is pending and what stage that is at. Anything to make the positives more visible will help.  8)

Great idea.  I'm for anything that makes it easier for newbies to the ecosystem and everyone else should be too imho.

While we are at it, can we also add Encyclopædia Britannica to the GUI, please. Very useful for newbies and everybody else imho.