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Offline bytemaster

Re: Announcing Angel Shares & BitShares Allocation
« Reply #75 on: December 27, 2013, 12:01:40 AM »
How will it be possible to obtain our DAC shares with only our PTS public key associated with how much we own?

You will simply import your PTS wallet into BitShares and other DACs and it will scan the genesis block for your balance.


How do you get this for angels shares that were obtained from bitcoins?  Will angel shares be sent to that bitcoin address?  Or do we have to import that Bitcoin wallet into Bitshares?  That sounds like its going to be a mess if we have to do that.

You would import your BTC wallet just like your PTS wallet.  If you create a dedicated BTC wallet prior to sending the funds then you will not have to expose your BTC private keys to our software.
For the latest updates checkout my blog: http://bytemaster.bitshares.org
Anything said on these forums does not constitute an intent to create a legal obligation or contract between myself and anyone else.   These are merely my opinions and I reserve the right to change them at any time.

Offline phoenix

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Re: Announcing Angel Shares & BitShares Allocation
« Reply #76 on: December 27, 2013, 01:20:50 AM »

You went from owning a share of a company (DAC) which had to pay 50% of its earnings (transaction fees) to miners to burn them up while also serving to centralize control in economies of scale to owning a share of a company (DAC) which can pay you 100% of its earnings.  This alone DOUBLES the value of the new BTS vs the old BTS.   You also went from owning 55% of a company that has $500K to grow on to owning 50% of a company with several million backing it and therefore much better adoption and support.   

If you ignore the stock-split effect of the original BTS dividend design, then what you have is a DAC that was charging you a 20% wealth tax to pay miners the first year and then taking 50% of the profits.   Now you get a DAC with no wealth tax paying you 100% of the profits.  The question becomes what kind of revenue will be generated from transaction fees because this will determine how long it takes before PTS holders under AGS surpass PTS holders under the original design in terms of percent ownership.   In terms of the value proposition you come out ahead in the first year based on the value being 2x the old value (when viewed as a revenue stream). 

One last detail is that if PTS holders contribute just 5% of their PTS to get AGS then they will have significantly increased their cut from 50% to 75% while providing $1 million worth of PTS to fund development and promotion.   Essentially, we have given PTS holders a way to repurpose their debasement due to mining toward more productive activities that increase the value of BTS and PTS.   

I hope this helps.

This is a good deal for people who just want to hold their PTS. But for people who want to invest their PTS in Angel Shares, this is an amazing deal! The ROI for Angel Shares looks pretty good right now (about 7.76 AGS per PTS), and might be better on some days than others
Protoshares: Pg5EhSZEXHFjdFUzpxJbm91UtA54iUuDvt
Bitmessage: BM-NBrGi2V3BZ8REnJM7FPxUjjkQp7V5D28

Offline Bitcoinfan

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Re: Announcing Angel Shares & BitShares Allocation
« Reply #77 on: December 27, 2013, 01:39:06 AM »

You went from owning a share of a company (DAC) which had to pay 50% of its earnings (transaction fees) to miners to burn them up while also serving to centralize control in economies of scale to owning a share of a company (DAC) which can pay you 100% of its earnings.  This alone DOUBLES the value of the new BTS vs the old BTS.   You also went from owning 55% of a company that has $500K to grow on to owning 50% of a company with several million backing it and therefore much better adoption and support.   

If you ignore the stock-split effect of the original BTS dividend design, then what you have is a DAC that was charging you a 20% wealth tax to pay miners the first year and then taking 50% of the profits.   Now you get a DAC with no wealth tax paying you 100% of the profits.  The question becomes what kind of revenue will be generated from transaction fees because this will determine how long it takes before PTS holders under AGS surpass PTS holders under the original design in terms of percent ownership.   In terms of the value proposition you come out ahead in the first year based on the value being 2x the old value (when viewed as a revenue stream). 

One last detail is that if PTS holders contribute just 5% of their PTS to get AGS then they will have significantly increased their cut from 50% to 75% while providing $1 million worth of PTS to fund development and promotion.   Essentially, we have given PTS holders a way to repurpose their debasement due to mining toward more productive activities that increase the value of BTS and PTS.   

I hope this helps.

This is a good deal for people who just want to hold their PTS. But for people who want to invest their PTS in Angel Shares, this is an amazing deal! The ROI for Angel Shares looks pretty good right now (about 7.76 AGS per PTS), and might be better on some days than others


HOw did you calculate 7.75 AGS per PTS? 

Offline bytemaster

Re: Announcing Angel Shares & BitShares Allocation
« Reply #78 on: December 27, 2013, 02:00:02 AM »

You went from owning a share of a company (DAC) which had to pay 50% of its earnings (transaction fees) to miners to burn them up while also serving to centralize control in economies of scale to owning a share of a company (DAC) which can pay you 100% of its earnings.  This alone DOUBLES the value of the new BTS vs the old BTS.   You also went from owning 55% of a company that has $500K to grow on to owning 50% of a company with several million backing it and therefore much better adoption and support.   

If you ignore the stock-split effect of the original BTS dividend design, then what you have is a DAC that was charging you a 20% wealth tax to pay miners the first year and then taking 50% of the profits.   Now you get a DAC with no wealth tax paying you 100% of the profits.  The question becomes what kind of revenue will be generated from transaction fees because this will determine how long it takes before PTS holders under AGS surpass PTS holders under the original design in terms of percent ownership.   In terms of the value proposition you come out ahead in the first year based on the value being 2x the old value (when viewed as a revenue stream). 

One last detail is that if PTS holders contribute just 5% of their PTS to get AGS then they will have significantly increased their cut from 50% to 75% while providing $1 million worth of PTS to fund development and promotion.   Essentially, we have given PTS holders a way to repurpose their debasement due to mining toward more productive activities that increase the value of BTS and PTS.   

I hope this helps.

This is a good deal for people who just want to hold their PTS. But for people who want to invest their PTS in Angel Shares, this is an amazing deal! The ROI for Angel Shares looks pretty good right now (about 7.76 AGS per PTS), and might be better on some days than others


HOw did you calculate 7.75 AGS per PTS?

638 PTS in the Jan 1 pool for 5000 AGS => 7.83 AGS per PTS
2 BTC in the Jan 1 pool for 5000 AGS => .0004 BTC per AGS  => 67x

Also note that if BitShares is launched in Q1 there will only be 1 million AGS vs 1.5 million PST each of which scales 50/50 so right now AGS is a great deal.

Oh, and we have some major bounty initiatives planned.  This place will be hopping with bounty activity like no place else, we will put Mastercoin to shame!  Details coming soon.
For the latest updates checkout my blog: http://bytemaster.bitshares.org
Anything said on these forums does not constitute an intent to create a legal obligation or contract between myself and anyone else.   These are merely my opinions and I reserve the right to change them at any time.

Offline slacking

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Re: Announcing Angel Shares & BitShares Allocation
« Reply #79 on: December 27, 2013, 03:05:45 AM »
Looking like bitcoin donation is the way to go right now.

Offline Markus

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Re: Announcing Angel Shares & BitShares Allocation
« Reply #80 on: December 27, 2013, 03:16:02 AM »
As a Keyhotee founder I would like BitShares launched right away. Right now there are only 10000 AngelShares in existence, each worth 120 PTS :)

bitbro

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Re: Announcing Angel Shares & BitShares Allocation
« Reply #81 on: December 27, 2013, 03:17:10 AM »
Will we be able to see live tracking of the donation pools each day until launch?

Offline slacking

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bitbro

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Re: Announcing Angel Shares & BitShares Allocation
« Reply #83 on: December 27, 2013, 03:21:28 AM »
Would donating from a BTC wallet like Coinbase be acceptable for getting the angelshares?

Offline toast

Re: Announcing Angel Shares & BitShares Allocation
« Reply #84 on: December 27, 2013, 03:23:12 AM »
Would donating from a BTC wallet like Coinbase be acceptable for getting the angelshares?

No, don't do this. You have to control the private keys for the addresses you donated from.
Do not use this post as information for making any important decisions. The only agreements I ever make are informal and non-binding. Take the same precautions as when dealing with a compromised account, scammer, sockpuppet, etc.

bitbro

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Re: Announcing Angel Shares & BitShares Allocation
« Reply #85 on: December 27, 2013, 03:29:25 AM »
Okay, and let's say I donate BTC or PTS from the client on my laptop and I control the private keys: Will the angelshares be sent to the wallet that the PTS (or BTC) came from? .... Or will I need a BTS client, or sometinhg else?

Offline Markus

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Re: Announcing Angel Shares & BitShares Allocation
« Reply #86 on: December 27, 2013, 03:37:11 AM »
Okay, and let's say I donate BTC or PTS from the client on my laptop and I control the private keys: Will the angelshares be sent to the wallet that the PTS (or BTC) came from? .... Or will I need a BTS client, or sometinhg else?

You will need a BTS client and then import your private keys. Same way Memorycoin 2.0 did.

Offline bytemaster

Re: Announcing Angel Shares & BitShares Allocation
« Reply #87 on: December 27, 2013, 03:40:06 AM »
Will we be able to see live tracking of the donation pools each day until launch?

We have a AngelShare explorer bounty (250 PTS) with someone who claims they may have it ready for Jan 1! 
For the latest updates checkout my blog: http://bytemaster.bitshares.org
Anything said on these forums does not constitute an intent to create a legal obligation or contract between myself and anyone else.   These are merely my opinions and I reserve the right to change them at any time.

Offline bytemaster

Re: Announcing Angel Shares & BitShares Allocation
« Reply #88 on: December 27, 2013, 03:40:27 AM »
Okay, and let's say I donate BTC or PTS from the client on my laptop and I control the private keys: Will the angelshares be sent to the wallet that the PTS (or BTC) came from? .... Or will I need a BTS client, or sometinhg else?

You will need a BTS client and then import your private keys. Same way Memorycoin 2.0 did.

Not quite the same way, we will offer better tools for it.
For the latest updates checkout my blog: http://bytemaster.bitshares.org
Anything said on these forums does not constitute an intent to create a legal obligation or contract between myself and anyone else.   These are merely my opinions and I reserve the right to change them at any time.

bitbro

  • Guest
Re: Announcing Angel Shares & BitShares Allocation
« Reply #89 on: December 27, 2013, 03:50:30 AM »
Okay, and let's say I donate BTC or PTS from the client on my laptop and I control the private keys: Will the angelshares be sent to the wallet that the PTS (or BTC) came from? .... Or will I need a BTS client, or sometinhg else?

You will need a BTS client and then import your private keys. Same way Memorycoin 2.0 did.

Not quite the same way, we will offer better tools for it.

When will the BTS client be released?  Would like to receive and control the AGS as soon as possible after donation.

 

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