Author Topic: AGS and PTS snapshot on Feb 28 - bitshares x test  (Read 11090 times)

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Offline bytemaster

Re: AGS and PTS snapshot on Feb 28 - bitshares x test
« Reply #30 on: January 29, 2014, 06:39:30 am »
Does this mean keyhotee genesis block is definitely before feb 28th, since keyhotee private keys get some BTS?

It better be or I will have some words with Dan N. ;)
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Offline codinat

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Re: AGS and PTS snapshot on Feb 28 - bitshares x test
« Reply #31 on: January 29, 2014, 06:54:40 am »
bytemaster,辛苦了,我们很期待!

Offline coolspeed

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Re: AGS and PTS snapshot on Feb 28 - bitshares x test
« Reply #32 on: January 29, 2014, 08:10:30 am »
so nobody know which version will success.
I have no courage to test the function by buy or sell my bts. maybe tomorrow the price is totally different.
All I can do is do nothing before I know it is success.

Yes, we are preparing a mass mailing on this topic.  If BitShares X Test is successful we will simply drop the Test from the name, if it fails in some manner that is unrecoverable then a new snapshot will be used.   Thus the value of the BTS (and BitUSD etc) in the test chain must factor in probability of catastrophic failure and reset of the chain.  It should go up over time as the likelihood of failure decreases. 

This process of launching test networks that "might be final release" networks will continue until all bugs are found.  This is necessary because for a test network to function it must have a non-0 value otherwise bitasset evaluation results in divide by 0 errors.   

Note that having many parallel chains was always in the plan and a version 2 chain with variable interest rates set by market forces will come out later as well.  So some bugs that result in the launch of a new chain may not mean the complete death of the initial test chain.  If the initial test chain has any residual value or can be 'patched' then it might take on a life of its own.
very confuse...
 :o

How can a clarify?

You can test with only a little bts.
The price will remain irrational, and as the possibility to success goes up, the price will continuously become more and more rational. Everybody has time to adjust.
After all, testing only a little is safe.
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Offline FelixO

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Re: AGS and PTS snapshot on Feb 28 - bitshares x test
« Reply #33 on: January 29, 2014, 01:42:06 pm »
Do I understand this correctly?

If I want Angelshares that are awarded with BTS I need to purchase (via donation) them definitely before Feb 28, correct?

What happens with donations that are sent out after this date?

Offline JakeThePanda

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Re: AGS and PTS snapshot on Feb 28 - bitshares x test
« Reply #34 on: January 29, 2014, 01:49:47 pm »
If Feb 28 is the final snapshot, then AGS is converted to BTS at about 3.5:1.  Every fail means a new snapshot is taken and the ratio lowers.  Correct?

Offline toast

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Re: AGS and PTS snapshot on Feb 28 - bitshares x test
« Reply #35 on: January 29, 2014, 01:51:22 pm »
Yeah, lots of incentive to get it right the first time
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.

Offline bytemaster

Re: AGS and PTS snapshot on Feb 28 - bitshares x test
« Reply #36 on: January 29, 2014, 02:58:21 pm »
If Feb 28 is the final snapshot, then AGS is converted to BTS at about 3.5:1.  Every fail means a new snapshot is taken and the ratio lowers.  Correct?

Exactly.
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: AGS and PTS snapshot on Feb 28 - bitshares x test
« Reply #37 on: January 29, 2014, 03:00:37 pm »
Do I understand this correctly?

If I want Angelshares that are awarded with BTS I need to purchase (via donation) them definitely before Feb 28, correct?

What happens with donations that are sent out after this date?

We have a road map with dozens of DACs and the donations after that date will count toward them.  There will be many BitShares X chains and you will get a stake in them.    And obviously if our test chain fails, then there will be a new snapshot for the second test chain we launch.
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 jifehuang

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Re: AGS and PTS snapshot on Feb 28 - bitshares x test
« Reply #38 on: January 29, 2014, 06:41:45 pm »
After Feb 28 AGS investors will have a hard time making decisions, especially for investment in BTC. If the first testnet becomes successfully,  the AGS obtained in Mar and later gives you no BTS.

Offline FelixO

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Re: AGS and PTS snapshot on Feb 28 - bitshares x test
« Reply #39 on: January 29, 2014, 06:42:00 pm »
thanks bytemaster!

sumantso

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Re: AGS and PTS snapshot on Feb 28 - bitshares x test
« Reply #40 on: January 29, 2014, 07:09:22 pm »
After Feb 28 AGS investors will have a hard time making decisions, especially for investment in BTC. If the first testnet becomes successfully,  the AGS obtained in Mar and later gives you no BTS.

They give you shares in future DACs, icluding new chains of BTSX. Say, a floating interest is implemented in a future chain which releases in April; then each AGS will give you 2 shares in that new chain (while PTS will give you some 1.5).

Bytemaster has said if the new DACs don't require much extra work they will be very likely awarded 50/50 to AGS/PTS.

Offline Amazon

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Re: AGS and PTS snapshot on Feb 28 - bitshares x test
« Reply #41 on: January 29, 2014, 07:49:18 pm »
so nobody know which version will success.
I have no courage to test the function by buy or sell my bts. maybe tomorrow the price is totally different.
All I can do is do nothing before I know it is success.

+1
I would do the same thing. You may lose a lot because of a bug or the volatility in the test.
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Offline jifehuang

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Re: AGS and PTS snapshot on Feb 28 - bitshares x test
« Reply #42 on: January 29, 2014, 07:55:42 pm »
After Feb 28 AGS investors will have a hard time making decisions, especially for investment in BTC. If the first testnet becomes successfully,  the AGS obtained in Mar and later gives you no BTS.

They give you shares in future DACs, icluding new chains of BTSX. Say, a floating interest is implemented in a future chain which releases in April; then each AGS will give you 2 shares in that new chain (while PTS will give you some 1.5).

Bytemaster has said if the new DACs don't require much extra work they will be very likely awarded 50/50 to AGS/PTS.

Still confusion. If the first chain is successful, why will there be a second chain? If the second chain contains new features, how to ensure people to adopt it when many are already using the first chain (some may even made a profit on it) ? Is it introducing competition among BTSv1 and BTSv2, and possibly more to come?

Offline toast

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Re: AGS and PTS snapshot on Feb 28 - bitshares x test
« Reply #43 on: January 29, 2014, 08:03:04 pm »
Different chains will have different assets and different rules like interest rates
There will also be non-BTS DACs
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.

Offline Brekyrself

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Re: AGS and PTS snapshot on Feb 28 - bitshares x test
« Reply #44 on: January 29, 2014, 08:46:56 pm »
Why not take a snapshot on the 28th and let us all beta test it for a month to fix any bugs?  If all works out take a final snapshot and official launch the following month?