Announcing BitShares AGS & BitShares X Allocation

[toast]

I apologize if this has been asked already...As a Keyhotee Founder I just found out about this AGS -- I wish there was an emailed newsletter or something.

What address do I send to and how do I specify that this is coming from a Founder address?

MD

You send to the addresses in the OP.

I think you don't specify that they're coming from a founder ID, I think they just mean that any PTS received for keyhotee donations (founder ID purchases) count as angelshare "purchases" and so you can use those private keys will be able to redeem the shares.

I would like some clarification though, if what I'm saying is right that means we had to have kept the keys we sent the donations from even though there was no warning that we would need to keep them. If I'm wrong, then I'm just totally confused about how the first 10,000 AGS are set aside for founders.

Edit: Actually yeah this is really confusing, (200 x 10,000) + 10,000 != 2,000,000. How do founder angelshares work?

[minddragon]

I apologize if this has been asked already...As a Keyhotee Founder I just found out about this AGS -- I wish there was an emailed newsletter or something.

What address do I send to and how do I specify that this is coming from a Founder address?

MD

[bytemaster]

Angel shares is not a block chain and has no genesis block.


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[doesntmatter]

So lets see here... As a holder of PTS i am entitled to 10% of any genesis block allocation? including These Angelshares!!! so what block does that happen?

[phoenix]

Is there a thread that we can go to to follow the progress on AGS.
Such as how much was submitted to each block for each day.
Total funding collected by Invictus through AGS.
Amount of funding currently being used for specific projects (DACs) etc.
Thanks

There is currently a bounty for the development of a block explorer that will allow you to do that. Once somebody claims the bounty you will be able to do that easily

[MrJeans]

Is there a thread that we can go to to follow the progress on AGS.
Such as how much was submitted to each block for each day.
Total funding collected by Invictus through AGS.
Amount of funding currently being used for specific projects (DACs) etc.
Thanks

[Stan]

What I do not understand is if that thing with angel shares for >1000 PTS holders is terminated. If so, then why no announcement/explanation on that?

yvg1900

From this month's newsletter (sent to all DAC Angels as well).  It's evolved with lots of forum input since then but the announcement you are looking for was the lead paragraph...   

DAC Angels Rising

When we first conceived the idea of DAC Angels, we thought of approaching newly-wealthy
ProtoShareholders to see if some might want to invest in new DACs in order to grow the value
of their holdings. We invited those who held 1000 or more PTS to sign up for a new DAC
Angel investors newsletter. We were blown away by the number of such investors that exist!

Instead of a small group of successful investors slowly pondering how to grow the industry, we
were looking at a whole army of investors yelling “I’m in!” Then it occurred to us: this is a
decentralized movement developing decentralized products and services. Why were we trying to
centralize our investors? Why can’t the owner of a single ProtoShare be a venture capitalist if
she want’s to? We should be sharing our ideas with everyone. So we are using this newsletter.

[yvg1900]

What I do not understand is if that thing with angel shares for >1000 PTS holders is terminated. If so, then why no announcement/explanation on that?

yvg1900

[bytemaster]

So ags means the end of mining?

AGS means end of mining for a profit.  LuckyShares may require LuckyMining to generate random numbers in a secure decentralized manner but most DACS do not need a decentralized random number source and thus will not use mining for security.

Mining results in centralization... a new approach is needed that is more profitable for the DAC owners.  The new approach uses AGS to issue shares mining-style with equal opportunity approach.

AGS works in synergy with PTS to fund development of our new ecosystem.  PTS is liquid and provides the currency for our bounties while AGS is illiquid and provides the capital to make things happen.  You will see some amazing developments in the weeks ahead as the full power of the AGS / PTS combo comes to light.   We are preparing $1-2 million worth of bounties paid in PTS for every skill under the sun.   We have referral bounties, bounties for new bounties, and more all in the works. 

[voldemort628]

So ags means the end of mining?

[bytemaster]

I wanted to point everyone toward the bountiful bounties subforum where we are starting to organize a massive bounty initiative. 

[bytemaster]

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.

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. 

[ruletheworld]

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.

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.

[hammerbrain]

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.

hook or by crook somebody wants to accumulate PTS.

[bytemaster]

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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