Announcing BitShares AGS & BitShares X Allocation

[Geneko]

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.

[bytemaster]

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.   

[Lighthouse]

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.

[bytemaster]

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.

[spoonman]

Do the donations get cleared out every day? Or once you donate you will get Angel Shares every day?

[super3]

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.   


Sent from my iPhone using Tapatalk

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.

[fluxer555]

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.

[bytemaster]

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.

[fluxer555]

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?

[Bitcoinfan]

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. 

[bitbro]

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.

[bytemaster]

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.

[bytemaster]

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! 

[Markus]

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.

[bitbro]

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?