Anouncement Concerning BTS Vesting

[lzr1900]

Lol that "btc38 dump" was incredibly low volume and during the Chinese sleep cycle. You couldn't expect that dump to sustain, especially in the midst of a BTC rise...

 

Actually,that is because something go wrong with the BTC trade bot in BTC38.
people dump their BTS and buy cheap BTC.

[nomoreheroes7]

Lol that "btc38 dump" was incredibly low volume and during the Chinese sleep cycle. You couldn't expect that dump to sustain, especially in the midst of a BTC rise...

 

[Ander]

I bought a ton of doge.  Wow.

(I still have more than 85% of my BTS and not selling more for a long time.  If the doge goes up I'm selling it to go back into full BTS.  The btc38 dump and lack of dump on bter definitely tricked me, but I will hopefully come out okay as long as Doge goes up too).

[liondani]

If bter doesnt dump and we go back up and I'm stuck with these few BTC from these sales, I'll just go buy some more DOGE.

I would throw them here: 

http://bitsharesplayfoundation.org/en/

[Ander]

If bter doesnt dump and we go back up and I'm stuck with these few BTC from these sales, I'll just go buy some more DOGE.

[Ander]

So...NOW the dump is happening?  A day late and after BTC rallies? 
People are silly and make no sense.

I sold some on bter, which hasnt really reacted to the dump yet, waiting for it to catch up to btc38.

[xeroc]

... yet another new command .. the pace of development is increadible ..

[vikram]

Does anyone know how to import the KeyID wallet backup into BitShares? There's no option for it under "wallet type" in the client, and if you try to import under "Bitcoin/PTS" it gives the error "Db::open: Invalid argument (13) Db::open: Invalid argument:".

Have you tried importing it from as a "backup" from the menu-bar?

Just tried that, but I get the warning that "this will back up and replace your current wallet!" As I don't want to risk losing my "main" wallet, I'll just wait for a more certain/less risky solution I guess.

You can use wallet_import_keys_from_json console command, but I don't think we have released official instructions yet.

[nomoreheroes7]

Does anyone know how to import the KeyID wallet backup into BitShares? There's no option for it under "wallet type" in the client, and if you try to import under "Bitcoin/PTS" it gives the error "Db::open: Invalid argument (13) Db::open: Invalid argument:".

Have you tried importing it from as a "backup" from the menu-bar?

Just tried that, but I get the warning that "this will back up and replace your current wallet!" As I don't want to risk losing my "main" wallet, I'll just wait for a more certain/less risky solution I guess.

[xeroc]

Does anyone know how to import the KeyID wallet backup into BitShares? There's no option for it under "wallet type" in the client, and if you try to import under "Bitcoin/PTS" it gives the error "Db::open: Invalid argument (13) Db::open: Invalid argument:".

Have you tried importing it from as a "backup" from the menu-bar?

[nomoreheroes7]

Does anyone know how to import the KeyID wallet backup into BitShares? There's no option for it under "wallet type" in the client, and if you try to import under "Bitcoin/PTS" it gives the error "Db::open: Invalid argument (13) Db::open: Invalid argument:".

[Ander]

Perhaps the unlocking of the BTS from DNS/VOTE/PTS/AGS is actually being seen as GOOD news?  Perhaps people were frustrated before, and now are happy to start getting their BTS, and are regaining confidence and deciding to buy back shares that they sold in november?

[Ander]

We are heading higher without bitcoin even needing to go up!  This is amazing.  Hope it continues, unlike most of the past brief pumps. 
We have a lot of good news coming in the next few days that could sustain this.


New website launch, the promotion stuff that rgcrypto is working on, the news from the chinese community that merlin has been hinting at. Stuff is starting to happen again.

[Ander]

This looks like the exact opposite of a dump so far.   I'm all in.

[CryptoPrometheus]

Does anybody know exactly how many BTS we get for each AGS?

I know this doesn't apply to BTC38, but still curious

[Ander]

A lot of people are expecting and preparing for this dump.  I sold 5 btc worth of BTS a couple days ago in anticipation, got scared and rebought (slightly lower than I sold), and sold again just now.  But if it doest happen, it could be the catalyst for a big rally as everyone is forced to buy back in when the dump doesnt materialize. 

[mudshark79]

I thougth there is an incentive to not unvest Balances as soon as possible in a way that you get less BTS per PTS/AGS/Whatever the earlier you unvest? I remember this metric evenly increasing so unvesting after 2 months of 48 would leave with less than 5%(?) of the possible maximum number of vested balance which should make it highly unlikely that we see a big dump now. (and more likely that we get a lot of dissappointed comments and scam accusations once again  ).

However this is only my educated guess and what I remember, I would also look forward to some clearing up from smbdy with real insigth.... should have been in some newsletter too?


Regards

Toast said yesterday that there is no penalty.

So the fact that you can only vest small amounts per day is the "replacement" for some penalty or the mechanism to avoid bringing too much BTS into existence at once.... OK. Anyway, I will wait for a handy method of getting all private-keys in one script or some GUI thingy . . . Thanks for the clarification.

[biophil]

Can we eliminate PTS from their second snapshot in BTS? They're continuing development and shouldn't be given BTS to dump and reinvest immediately into PTS.

If PTS is being merged in, it should be killed off 100%.

You realize there's no "should" in crypto, right? Anybody can snapshot anything for any purpose and there isn't anything anybody else can do about it.

Sent from my SCH-S720C using Tapatalk 2

[toast]

Can we eliminate PTS from their second snapshot in BTS? They're continuing development and shouldn't be given BTS to dump and reinvest immediately into PTS.

If PTS is being merged in, it should be killed off 100%.

PTS2 was not part of the snapshot. They used the same snapshot for their genesis as we did for this sharedrop.

[cryptillionaire]

Can we eliminate PTS from their second snapshot in BTS? They're continuing development and shouldn't be given BTS to dump and reinvest immediately into PTS.

If PTS is being merged in, it should be killed off 100%.

[islandking]

I thougth there is an incentive to not unvest Balances as soon as possible in a way that you get less BTS per PTS/AGS/Whatever the earlier you unvest? I remember this metric evenly increasing so unvesting after 2 months of 48 would leave with less than 5%(?) of the possible maximum number of vested balance which should make it highly unlikely that we see a big dump now. (and more likely that we get a lot of dissappointed comments and scam accusations once again  ).

However this is only my educated guess and what I remember, I would also look forward to some clearing up from smbdy with real insigth.... should have been in some newsletter too?


Regards

Toast said yesterday that there is no penalty.

[mudshark79]

I thougth there is an incentive to not unvest Balances as soon as possible in a way that you get less BTS per PTS/AGS/Whatever the earlier you unvest? I remember this metric evenly increasing so unvesting after 2 months of 48 would leave with less than 5%(?) of the possible maximum number of vested balance which should make it highly unlikely that we see a big dump now. (and more likely that we get a lot of dissappointed comments and scam accusations once again  ).

However this is only my educated guess and what I remember, I would also look forward to some clearing up from smbdy with real insigth.... should have been in some newsletter too?


Regards

[islandking]

Because the vesting period started in November and they are just being unlocked now.

Well let's see...I believe the vesting period began on 11/5/14, right? Two and a half months. And the vesting is for a period of 2 years...which means approx. 52,083,333 of the 500,000,000 new BTS will be unlocked at once.

Thanks for the heads up mate. I thought it would start as off today.

Anyway, yeah, we might see a little dump today then. But after we should be getting back on track.
Can anyone from the dev team confirm vesting started in November?

No problem. I am personally just sitting on bitCNY and bitUSD right now. There is way to much uncertainty in general. Bitcoin looks like it is struggling to stay afloat.

[graffenwalder]

Because the vesting period started in November and they are just being unlocked now.

Well let's see...I believe the vesting period began on 11/5/14, right? Two and a half months. And the vesting is for a period of 2 years...which means approx. 52,083,333 of the 500,000,000 new BTS will be unlocked at once.

Thanks for the heads up mate. I thought it would start as off today.

Anyway, yeah, we might see a little dump today then. But after we should be getting back on track.
Can anyone from the dev team confirm vesting started in November?

[islandking]

Because the vesting period started in November and they are just being unlocked now.

Well let's see...I believe the vesting period began on 11/5/14, right? Two and a half months. And the vesting is for a period of 2 years...which means approx. 52,083,333 of the 500,000,000 new BTS will be unlocked at once.

[graffenwalder]

Get ready for the massive sell off.

Are you guys serious?

Even if everybody that has a vesting balance, would sell of their part everyday.
That would be 685.000 BTS sell pressure, sure this would hurt the price a little bit.

But do you really think everyone is going to sell off their vesting balances?

I would be surprised if it was more than 10% of that.
Unfortunately there is no way to measure this.

52,000,000 BTS is unlocked today. Even if 10% of that is dumped that is still 5.8 million BTS on 1 day. Going forward the vesting balances are going to put downward pressure on BTS.

Just curious how did you come to that 52 million number?

I thought that vesting balances would be unlocked spread over 2 years.
500.000.000/730= 684931 BTS a day.

[islandking]

Get ready for the massive sell off.

Are you guys serious?

Even if everybody that has a vesting balance, would sell of their part everyday.
That would be 685.000 BTS sell pressure, sure this would hurt the price a little bit.

But do you really think everyone is going to sell off their vesting balances?

I would be surprised if it was more than 10% of that.
Unfortunately there is no way to measure this.

52,000,000 BTS is unlocked today. Even if 10% of that is dumped that is still 5.8 million BTS on 1 day. Going forward the vesting balances are going to put downward pressure on BTS.

[graffenwalder]

Get ready for the massive sell off.

Are you guys serious?

Even if everybody that has a vesting balance, would sell of their part everyday.
That would be 685.000 BTS sell pressure, sure this would hurt the price a little bit.

But do you really think everyone is going to sell off their vesting balances?

I would be surprised if it was more than 10% of that.
Unfortunately there is no way to measure this.

[islandking]

Get ready for the massive sell off.

[graffenwalder]

another dump will begin

LOL

[lastagile]

another dump will begin

[CLains]

That's amazing! Thank you for your hard work! 

[xeroc]

... your are doing an awesome job!!

[cass]

 

[Btc38]

Dear Customer,
 
The 0.5.0 version of BTS has been released ,with a significant feature of defreezing vested BTS from the merge of PTS, DNS, VOTE and AGS, which starts at block height 1575500.
 
We urge you to update to 0.5.0, moreover, we are happy to announce that the snapshots of PTS, DNS and VOTE will transformer to BTS vesting very soon on your balance.
 
Here is the proportion of each snapshot:
 
1PTS=99.2689 BTS
1DNS=0.01855 BTS
1VOTE=0.015 BTS
 
The BTS vesting will be unfrozen everyday, with a percentage of 1/730 per day(2 year of vesting period).
 
If you need any further assistance, please feel free to contact us.
 
BTC38.com
2015/01/20