Announcing BitShares AGS & BitShares X Allocation

[Lighthouse]

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.   


Sent from my iPhone using Tapatalk

Why would a bounty recipient want to reinvest?  Performing the work is what the bounty compensates, and they're being compensated in PTS.

I really really really think focusing on retaining as much value internally as possible is a huge mistake you seem determined to make. 

[bytemaster]

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.   


Sent from my iPhone using Tapatalk

[fluxer555]

Is there a social promise built into this that says I3 cannot donate to itself in order to attain AGS?

[toast]

One quick question, does it matter if I donate from a multi-address PTS/BTC wallet? Or do I have to donate from a single address PTS/BTC wallet? I experienced MMC 2.0 that single address was easy. Please advise.

It should not matter, we will have tools to import all keys from your PTS and BTC wallets.

Thanks, I have given my donation. When will the AngelShares client available? Is there a due date for the donation?

AngelShares are non-transferrable, but will turn into something transferrable when we launch BitShares in Q1 2014.   Everything received before the end of Jan 1, 2014 counts as part of the Jan 1, 2014 auction of 10000 AGS.   Currently have have 5000 AGS as you are the first PTS bidder!   After that every day is a fresh Auction.   We wanted to give people some time to digest the system before the daily auctions start that way everyone has equal opportunity.

bytemaster, can you explain this:

Code: [Select]

Currently have have 5000 AGS as you are the first PTS bidder!
Cause I've just donated BTC to the funding address.

Every day, 5000 AGS are distributed among everyone who contributed BTC (and another 5000 for the PTS) for **that day**. Now until Jan 1st counts as one day. The funding address currently has 3 inputs totaling around 1.3 BTC, so you would get (5000 / 1.3) angelshares per bitcoin (unless people donate more).

[dacer]

One quick question, does it matter if I donate from a multi-address PTS/BTC wallet? Or do I have to donate from a single address PTS/BTC wallet? I experienced MMC 2.0 that single address was easy. Please advise.

It should not matter, we will have tools to import all keys from your PTS and BTC wallets.

Thanks, I have given my donation. When will the AngelShares client available? Is there a due date for the donation?

AngelShares are non-transferrable, but will turn into something transferrable when we launch BitShares in Q1 2014.   Everything received before the end of Jan 1, 2014 counts as part of the Jan 1, 2014 auction of 10000 AGS.   Currently have have 5000 AGS as you are the first PTS bidder!   After that every day is a fresh Auction.   We wanted to give people some time to digest the system before the daily auctions start that way everyone has equal opportunity.

bytemaster, can you explain this:

Code: [Select]

Currently have have 5000 AGS as you are the first PTS bidder!
Cause I've just donated BTC to the funding address.

[bytemaster]

....aaaand I'm a dumbass. Misread "new years" as "christmas" and went ahead and donated. Will you count it as being donated on the first day?

Actually wait, there are already PTS donations too. Can we just have this start "today" (the 26th just started by GMT)?

The first day is everything between now and the end of Jan 1 2014... we will make that clear for those who want to get an early start.   

We just didn't want people to cry foul if we started handing out AngelShares without time for word to get out, especially over the holidays.

[toast]

....aaaand I'm a dumbass. Misread "new years" as "christmas" and went ahead and donated. Will you count it as being donated on the first day?

Actually wait, there are already PTS donations too. Can we just have this start "today" (the 26th just started by GMT)?

[bytemaster]

https://coinplorer.com/PTS/Addresses/PaNGELmZgzRQCKeEKM6ifgTqNkC4ceiAWw
https://coinplorer.com/BTC/Addresses/1ANGELwQwWxMmbdaSWhWLqBEtPTkWb8uDc

It looks like the market for PTS has started to jump since we started hinting at AGS details last night, PST is up 20% vs BTC in a move that is appears to be independent from other alts. 

[phoenix]

Here's the current status for the PTS address:

http://btsblock.com/address/PaNGELmZgzRQCKeEKM6ifgTqNkC4ceiAWw

currently 600 PTS -> 8.33333333 angel shares per PTS

[bytemaster]

Seems like "we will release bitshares in Q1 2014" and "angelshares will be released over 200 days" are incompatible. What am I missing?

You are missing that AGS is for more than just BTS and that BTS will scale ownership proportional to the AGS supply at launch.

Ah, that makes sense.

What time zone are you using for determining which day a donation appeared?

GMT.

[toast]

Seems like "we will release bitshares in Q1 2014" and "angelshares will be released over 200 days" are incompatible. What am I missing?

You are missing that AGS is for more than just BTS and that BTS will scale ownership proportional to the AGS supply at launch.

Ah, that makes sense.

What time zone are you using for determining which day a donation appeared?

[bytemaster]

Seems like "we will release bitshares in Q1 2014" and "angelshares will be released over 200 days" are incompatible. What am I missing?

You are missing that AGS is for more than just BTS and that BTS will scale ownership proportional to the AGS supply at launch. 

[bytemaster]

Honoring AngelShares only applies to anyone who uses our code (paid for by the Angels) to develop their DAC.  Obviously they have very different value propositions.

1) PTS is liquid and allows you to speculate on not just Invictus but all DACs
2) AngelShares is much closer tied to Invictus and we encourage other DAC development teams to form their own funding method or perhaps simply copy the AngelShares model.
3) If you don't like how the project is going you can sell PTS... AngelShare holders are in it for the long run. 

Obviously the market will sort it all out and price them accordingly.   Note that AngelShares creates DEMAND for PTS as a means of purchasing AGS on part with BTC.

Does this mean that there is no way BitShares will be released before 200 days into 2014, and possibly later?
Is Invictus signing a social contract now that says AGS holders will get access to at least 10% of ALL future DACs (I know you said that on the website, but just confirming again)?

BitShares will be released when development is complete which we think will be about 100 days.   Of course estimating software development times is hard.   At the time we launch BitShares the AngelShares will be mapped proportionally to 2M BTS and the PTS will be mapped proportionally to 2M BTS.   It is obviously in everyone's interest to get BTS done as soon as possible which is why BTS is #1 priority for me.  Keyhotee has been assigned its own development team which has a good amount of funding from the Keyhotee Founders.   BTS and Keyhotee are now on parallel development tracks.


Yes, 10% of all DACs that use our code which will share a lot in common with BTS. 

[toast]

Seems like "we will release bitshares in Q1 2014" and "angelshares will be released over 200 days" are incompatible. What am I missing?

[ruletheworld]

Honoring AngelShares only applies to anyone who uses our code (paid for by the Angels) to develop their DAC.  Obviously they have very different value propositions.

1) PTS is liquid and allows you to speculate on not just Invictus but all DACs
2) AngelShares is much closer tied to Invictus and we encourage other DAC development teams to form their own funding method or perhaps simply copy the AngelShares model.
3) If you don't like how the project is going you can sell PTS... AngelShare holders are in it for the long run. 

Obviously the market will sort it all out and price them accordingly.   Note that AngelShares creates DEMAND for PTS as a means of purchasing AGS on part with BTC.

Does this mean that there is no way BitShares will be released before 200 days into 2014, and possibly later?
Is Invictus signing a social contract now that says AGS holders will get access to at least 10% of ALL future DACs (I know you said that on the website, but just confirming again)?