Invictus Innovations to Return PTS Donations

[liondani]

The one thing I am a bit confused about and maybe it is not my business or is not important, but recently the development team was each given a bunch of PTS, something like 30,000 each, did that happen or not.

Yes, but the value of that move for the devs was not the PTS value itself but the added BTS they have indirectly "won"  cause they received the PTS  pre snapshot...

[hadrian]

I hope I have read between the lines correctly, and reached the proper conclusions on the ramifications of this news...

[bytemaster]

Why not just send them to a burn address? It would be way easier logistics wise. I suppose that won't really benefit original donators though.

That wouldn't help in the event the motivation was tax based or the SEC orders them to return the funds anyway.

Hmm good points! Tax could be an interesting issue, wouldn't all receivers of BTSX have to sell a good chunk to cover the tax burden associated with the gift they received?

Cost basis in BTS is 0... you pay taxes when you sell them.

[bitmeat]

Why not just send them to a burn address? It would be way easier logistics wise. I suppose that won't really benefit original donators though.

That wouldn't help in the event the motivation was tax based or the SEC orders them to return the funds anyway.

Hmm good points! Tax could be an interesting issue, wouldn't all receivers of BTSX have to sell a good chunk to cover the tax burden associated with the gift they received?

[mint chocolate chip]

415,000 PTS at recent value is less than 350 BTC.
415,000 PTS at the value of PTS during the donation period was more than 3,000 BTC.

Well played.

1) AGS donation .. was a DONATION .. price irrelevant
2) I3 is giving back funds .. the obviously didn't need them
3) who cares about the price when your DONATED!! them .. current price is >0 .. and as such I3 is effectively gifting every one that donated PTS to AGS ..!?

I can't see your problems here?

I have no problems. I could care less since I donated mostly via btc. I was just stating some approximate figures, if I had not posted them someone else would have. Personally, I think the team has done a remarkable job aligning all the moving parts of BTS and this is just another  solid play on their part.

The one thing I am a bit confused about and maybe it is not my business or is not important, but recently the development team was each given a bunch of PTS, something like 30,000 each, did that happen or not.

[donkeypong]

It's very kind of I3. Another mostly selfless gesture, which probably also cleans up a few potential problems on their end.

This should tank the PTS price, since they are being moved from a long term holder to at least some owners who will sell. Unless there's a great deal of confidence in Alphabar, which I've not seen yet, I think he's going to be starting with a lot less here. I'll be glad if I'm wrong.

Clean slate for PTS. Dirt thrown over its grave. Will it rise as a zombie or stay buried?

[stevejobsghost]

Why not just send them to a burn address? It would be way easier logistics wise. I suppose that won't really benefit original donators though.

That wouldn't help in the event the motivation was tax based or the SEC orders them to return the funds anyway.

[bitmeat]

Why not just send them to a burn address? It would be way easier logistics wise. I suppose that won't really benefit original donators though.

[stevejobsghost]

You can never satisfy everyone in this community. I'm sure someone is going find something negative about this. 

Which is why I would prefer if I3 disclose of their motives for doing so - before someone not in the know makes up some FUD and spreads it as Truth

I am sure they have reasons for what they do.   

What makes you so sure FUD cannot be spread regardless?   

[xeroc]

You can never satisfy everyone in this community. I'm sure someone is going find something negative about this. 

How about that:

[sschechter]

You can never satisfy everyone in this community. I'm sure someone is going find something negative about this. 

Which is why I would prefer if I3 disclose of their motives for doing so - before someone not in the know makes up some FUD and spreads it as Truth

[Pheonike]

You can never satisfy everyone in this community. I'm sure someone is going find something negative about this. 

[Ander]

It does make sense for tax reasons.

Rather than try to pay taxes on the pts donation, which would be impossible, they just undonate them, while simultaneously allowing PTS to live on its own.

[hadrian]

I was about to go to bed,
Then I found this thread,
I tried to think, with my tired head,
To drastic action this thread has lead!
 

[toast]

 

want to hear what alphabar thinks. PTS upgrade is much more realistic now.