Author Topic: Sparkle Snapshot Date Announcement - December 14th  (Read 12084 times)

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Offline joereform

Did Poloniex do a Sparkle snapshot for BTS holders? I can't find anything on my balances page to indicate that.

Offline testz

snapshot is done?

done

https://bitsharestalk.org/index.php?topic=12284.0

The link refers to the snapshot being taken for PTS ...not for sparkle . This is misleading.

PTS-DPOS has snapshot at the same day as Sparkle, so Sparkle will use same data for allocation shares to PTS owners.

Hmm from what I have read Sparkle snapshot will not be taken from PTS alone , BTS also has a stake .  You are correct when snapshot the same day but allocation is different. Initial supply for sparkle would be 100 Million as compare to DPOS-PTS that has a billion initial supply from their respective snapshots. Refer to sparkle website http://thetruesparkles.wix.com/sparkle#!faq/cyx2
.

Yes, allocation will be different but Sparkle will use the same snapshot of PTS owners and balances as PTS-DPOS.

Offline jwiz168

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snapshot is done?

done

https://bitsharestalk.org/index.php?topic=12284.0

The link refers to the snapshot being taken for PTS ...not for sparkle . This is misleading.

PTS-DPOS has snapshot at the same day as Sparkle, so Sparkle will use same data for allocation shares to PTS owners.

Hmm from what I have read Sparkle snapshot will not be taken from PTS alone , BTS also has a stake .  You are correct when snapshot the same day but allocation is different. Initial supply for sparkle would be 100 Million as compare to DPOS-PTS that has a billion initial supply from their respective snapshots. Refer to sparkle website http://thetruesparkles.wix.com/sparkle#!faq/cyx2
.
« Last Edit: December 16, 2014, 05:52:55 am by jwiz168 »

Offline testz

snapshot is done?

done

https://bitsharestalk.org/index.php?topic=12284.0

The link refers to the snapshot being taken for PTS ...not for sparkle . This is misleading.

PTS-DPOS has snapshot at the same day as Sparkle, so Sparkle will use same data for allocation shares to PTS owners.

Offline infovortice2013

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Offline jwiz168

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snapshot is done?

done

https://bitsharestalk.org/index.php?topic=12284.0

The link refers to the snapshot being taken for PTS ...not for sparkle . This is misleading.

Offline infovortice2013

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« Last Edit: December 15, 2014, 04:29:48 am by infovortice2013 »
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Offline bigt

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Actually I said exchange sparks belong to the exchange not to the depositors unless the exchange chooses to do otherwise.
... because you cannot force them to do otherwise (read: the "right" thing)  8)

Actually as founder I deem the right thing for the exchange to keep them.  I want the exchange to have financial incentive to list sparks so they can potentially sell them.  I want them to have a stake in the success.   I want people to keep funds off of exchanges.

The 'right thing' for an Exchange to do would be to distribute to PTS depositors.

The financial incentives for an Exchange to list coins is to make commissions off of trades, deposits and withdrawals... and retaining custom.

Any Sparks they retain will be a dividend earned off the back of PTS depositors - not a good look for any Exchange.

Whilst no-one can compel the Exchanges to honour snapshots, I'm surprised to see a founder of a coin positively advocating that Exchanges keep any snapshot of funds deposited in them. The success of Sparkles will be based on people investing in them and widespread adoption, not exchanges listing them.

Also, if Exchanges are invested the 'Bitshares ecosystem,' they do so by proxy. They are provide a service to the people who buy and sell on their Exchanges. If people don't trade, the Exchanges have no interest in the coins and delist them. Coins should look to appeal to the people that will use them, not the institutions that only exist to serve people's needs.

Offline xeroc

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Did they gain 1% on deposit or does that not apply to BTC?
All applies only for BTS:
you deposit BTS .. you get +1%
you withdraw BTS ... you lose 1%

Offline Riverhead

Actually I said exchange sparks belong to the exchange not to the depositors unless the exchange chooses to do otherwise.
... because you cannot force them to do otherwise (read: the "right" thing)  8)

Actually as founder I deem the right thing for the exchange to keep them.  I want the exchange to have financial incentive to list sparks so they can potentially sell them.  I want them to have a stake in the success.   I want people to keep funds off of exchanges.
What? That doesn't make any sense.
You want exchanges to list sparkle by giving them sparkle. But you do not want people trading sparkle on exchanges?
Hm .. i see bter doing this all the time with the 1% withdrawal fee and the 1% extra on BTS deposits .. basically .. if you took part in the bts snapshot ON the bter exchange .. you pay a 1% fee for them redeeming YOUR stake .. maybe that's the best way to go .. like an implementation fee payed by those participating in that progress on the exchange ..

the way bter does it currently hurts people that want to by bts paying btc ... they instantly have a 1% loss :(
Did they gain 1% on deposit or does that not apply to BTC?

Offline onceuponatime

Actually I said exchange sparks belong to the exchange not to the depositors unless the exchange chooses to do otherwise.
... because you cannot force them to do otherwise (read: the "right" thing)  8)

Actually as founder I deem the right thing for the exchange to keep them.  I want the exchange to have financial incentive to list sparks so they can potentially sell them.  I want them to have a stake in the success.   I want people to keep funds off of exchanges.
What? That doesn't make any sense.
You want exchanges to list sparkle by giving them sparkle. But you do not want people trading sparkle on exchanges?

Makes sense to me. Only keep your funds on an excahnge when you are actively trading. This reduces the risk of being Goxed.

Offline xeroc

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Actually I said exchange sparks belong to the exchange not to the depositors unless the exchange chooses to do otherwise.
... because you cannot force them to do otherwise (read: the "right" thing)  8)

Actually as founder I deem the right thing for the exchange to keep them.  I want the exchange to have financial incentive to list sparks so they can potentially sell them.  I want them to have a stake in the success.   I want people to keep funds off of exchanges.
What? That doesn't make any sense.
You want exchanges to list sparkle by giving them sparkle. But you do not want people trading sparkle on exchanges?
Hm .. i see bter doing this all the time with the 1% withdrawal fee and the 1% extra on BTS deposits .. basically .. if you took part in the bts snapshot ON the bter exchange .. you pay a 1% fee for them redeeming YOUR stake .. maybe that's the best way to go .. like an implementation fee payed by those participating in that progress on the exchange ..

the way bter does it currently hurts people that want to by bts paying btc ... they instantly have a 1% loss :(

Offline graffenwalder

Actually I said exchange sparks belong to the exchange not to the depositors unless the exchange chooses to do otherwise.
... because you cannot force them to do otherwise (read: the "right" thing)  8)

Actually as founder I deem the right thing for the exchange to keep them.  I want the exchange to have financial incentive to list sparks so they can potentially sell them.  I want them to have a stake in the success.   I want people to keep funds off of exchanges.
What? That doesn't make any sense.
You want exchanges to list sparkle by giving them sparkle. But you do not want people trading sparkle on exchanges?

Offline sparkles

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Actually I said exchange sparks belong to the exchange not to the depositors unless the exchange chooses to do otherwise.
... because you cannot force them to do otherwise (read: the "right" thing)  8)

Actually as founder I deem the right thing for the exchange to keep them.  I want the exchange to have financial incentive to list sparks so they can potentially sell them.  I want them to have a stake in the success.   I want people to keep funds off of exchanges. 

Offline xeroc

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Actually I said exchange sparks belong to the exchange not to the depositors unless the exchange chooses to do otherwise.
... because you cannot force them to do otherwise (read: the "right" thing)  8)