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Offline Bitcoinfan

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Re: Announcing Angel Shares & BitShares Allocation
« Reply #90 on: December 27, 2013, 03:54:14 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.

I suppose blockchain wallet is okay since we have the DAC file. 

Offline fluxer555

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Re: Announcing Angel Shares & BitShares Allocation
« Reply #91 on: December 27, 2013, 04:27:01 AM »
So, there is a 100% secure way of attributing shares with nothing but the public key? Is there any way someone can 'spoof' someone else's public key by engineering a wallet file?

Offline bytemaster

Re: Announcing Angel Shares & BitShares Allocation
« Reply #92 on: December 27, 2013, 05:02:29 AM »
So, there is a 100% secure way of attributing shares with nothing but the public key? Is there any way someone can 'spoof' someone else's public key by engineering a wallet file?

In order to send funds from the source address you must sign it with your private key.  To claim the funds in the future you just use the same private key.  If it were possible to spoof bitcoin wouldn't work.
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Offline fluxer555

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Re: Announcing Angel Shares & BitShares Allocation
« Reply #93 on: December 27, 2013, 05:58:01 AM »
Right. So to be clear, the import function on the BitShares (or other DAC) client will loop through all the private keys inside the wallet file, derive their public keys, and claim the shares associated with those public keys, which are waiting for them in the Genesis block. Right?

This seems obvious, but somehow I was confused because of the precautionary steps needed to preserve the private keys at Block 32000 when claiming Memory Coin.

Offline super3

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Re: Announcing Angel Shares & BitShares Allocation
« Reply #94 on: December 27, 2013, 05:58:27 AM »
So it might just be better to dollar cost average the total amount you want to invest? Say I have $10,000. I spend half on bitcoins, half on pts then send in 1/200th bitcoin and pts in each day. Or is it better to send the entire amount in at once at go for the highest proportion sent in for that day.

I would suggest Invictus offers a service (for a small fee) to investors who would like to hand off a large amount of investment funds without having to try and micromanage daily investments.   Bytemaster, do you have any plans for how to address this issue?   If I for example wanted to invest 1000 PTS in angelshares, how could I efficiently do that without having to pay attention all the time to the address?  Seems like this is a method intended to service larger investors and yet it requires more hands-on management than Protoshares ever did.
That should be clearly stated because it would undermine the whole process if we did that.   

We will not recycle funds through the address.   

We need to find a way to address people we pay bounties to to reinvest without invictus being blamed.   


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I believe something like this is in the roadmap. At the start we will probably do this for large investors, but in the future we will have a open-source automated tool for this.

Offline spoonman

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Re: Announcing Angel Shares & BitShares Allocation
« Reply #95 on: December 27, 2013, 05:26:30 PM »
Do the donations get cleared out every day? Or once you donate you will get Angel Shares every day?

Offline bytemaster

Re: Announcing Angel Shares & BitShares Allocation
« Reply #96 on: December 27, 2013, 05:28:39 PM »
Do the donations get cleared out every day? Or once you donate you will get Angel Shares every day?

Shares are abstract in nature and not something transferrable.  They will result in your Private Keys being given balances in BTS when launched.   Every time we spend from the address we will document the purpose of the transfer.  We are working on that system now, until then we are not touching the funds.
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Offline Lighthouse

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Re: Announcing Angel Shares & BitShares Allocation
« Reply #97 on: December 27, 2013, 05:30:16 PM »
Do the donations get cleared out every day? Or once you donate you will get Angel Shares every day?

Huh,
now THAT is an interesting idea.   Make the whole thing cumulative, rewards people who are either early or put in a lot of value.

Might be better to split Angelshares between PTS -> Daily Auctions vs. PTS -> Cumulative Daily Split based on proportional, all time investment.
Before you say the price of PTS is too high, take a look at theThe Reason.  Protoshares are an entirely new type of Cryptocurrency, one that pays to hold.

Offline bytemaster

Re: Announcing Angel Shares & BitShares Allocation
« Reply #98 on: December 27, 2013, 05:35:10 PM »
Do the donations get cleared out every day? Or once you donate you will get Angel Shares every day?

Huh,
now THAT is an interesting idea.   Make the whole thing cumulative, rewards people who are either early or put in a lot of value.

Might be better to split Angelshares between PTS -> Daily Auctions vs. PTS -> Cumulative Daily Split based on proportional, all time investment.

We had considered the cumulative proportional allocation, but concluded that it would lose some excitement and urgency.  Our model is really designed to mirror how mining works, ie: money as proof of work.  The more people mining a block in a pool the less each person gets.   In many ways this system works like my 1 day round coyote mining pool only instead of sending the money to Amazon or DO we get the money to build the ecosystem.   
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Offline Geneko

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Re: Announcing Angel Shares & BitShares Allocation
« Reply #99 on: December 27, 2013, 07:18:31 PM »
There is one thing that bothers me. This one is related to inevitable influence to future Pts trading.
 All Pts accumulated in the pool for Ags could not be used directly in order to pay developers , bounties , promotions and etc…It has to be traded for Btc. Who is controlling supply of those accumulated Pts to the market. Are those accumulated one day, going to be traded next day.  If not then when? Obviously the one who controls supply of those accumulated Pts is going to influence the market price in a big way.

Offline bytemaster

Re: Announcing Angel Shares & BitShares Allocation
« Reply #100 on: December 27, 2013, 07:22:59 PM »
We are going to use them for bounties paid in pts.  Any sale for btc will be made public in advance and done in a way that does not change the price in the markets. 

We do not expect to sell pts for btc because we have the btc angels for that purpose. 


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Offline hammerbrain

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Re: Announcing Angel Shares & BitShares Allocation
« Reply #101 on: December 28, 2013, 04:51:21 AM »
There is one thing that bothers me. This one is related to inevitable influence to future Pts trading.
 All Pts accumulated in the pool for Ags could not be used directly in order to pay developers , bounties , promotions and etc…It has to be traded for Btc. Who is controlling supply of those accumulated Pts to the market. Are those accumulated one day, going to be traded next day.  If not then when? Obviously the one who controls supply of those accumulated Pts is going to influence the market price in a big way.

+1

hook or by crook somebody wants to accumulate PTS.

Offline ruletheworld

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Re: Announcing Angel Shares & BitShares Allocation
« Reply #102 on: December 28, 2013, 05:40:31 AM »
There is one thing that bothers me. This one is related to inevitable influence to future Pts trading.
 All Pts accumulated in the pool for Ags could not be used directly in order to pay developers , bounties , promotions and etc…It has to be traded for Btc. Who is controlling supply of those accumulated Pts to the market. Are those accumulated one day, going to be traded next day.  If not then when? Obviously the one who controls supply of those accumulated Pts is going to influence the market price in a big way.

+1

hook or by crook somebody wants to accumulate PTS.
Why do you think so? I don't think it's right to assume that the PTS donated for this would flood the market. I don't see why bounties shouldn't be paid in PTS. They also have funds from the BTC pool to pay for developers who don't want to work for BTC, but I see no reason why bounties shouldn't be paid and accepted in PTS.
If anything, this whole thing is going to increase the velocity of PTS.
PTS: PYRqARWMGQ1PeZvjJM6iWJxf2ouwYcueHF
BTC: 1NeRoAKp137GTDUEBaonbu5BUGPN17Xw5n
http://btcgeek.com

Offline bytemaster

Re: Announcing Angel Shares & BitShares Allocation
« Reply #103 on: December 28, 2013, 06:38:01 AM »
There is one thing that bothers me. This one is related to inevitable influence to future Pts trading.
 All Pts accumulated in the pool for Ags could not be used directly in order to pay developers , bounties , promotions and etc…It has to be traded for Btc. Who is controlling supply of those accumulated Pts to the market. Are those accumulated one day, going to be traded next day.  If not then when? Obviously the one who controls supply of those accumulated Pts is going to influence the market price in a big way.

+1

hook or by crook somebody wants to accumulate PTS.
Why do you think so? I don't think it's right to assume that the PTS donated for this would flood the market. I don't see why bounties shouldn't be paid in PTS. They also have funds from the BTC pool to pay for developers who don't want to work for BTC, but I see no reason why bounties shouldn't be paid and accepted in PTS.
If anything, this whole thing is going to increase the velocity of PTS.

Almost all bounties will be paid in PTS.  We will probably reserve the BTC to sell for cash to fund salaries, rent, and other expenses for which crypto-currencies are not accepted.   If we have extra BTC we will probably use it to buy PTS and then offer the bounty in PTS. 

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 #104 on: December 28, 2013, 08:22:12 AM »
I wanted to point everyone toward the bountiful bounties subforum where we are starting to organize a massive bounty initiative. 
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.

 

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