Author Topic: Heads Up: AGS MAY give you 3.33 BTSX  (Read 7953 times)

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Offline ripplexiaoshan

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When the Final bts build is released, will the current AGS and PTS be converted by ratio in to the 4 million bts?

I think so.
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Offline Pocket Sand

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When the Final bts build is released, will the current AGS and PTS be converted by ratio in to the 4 million bts?

sumantso

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Sounds great, just one small correction, by 28th Feb, around 1.5M PTS will be mined, not 1.2M. So far, 1.396M has been mined. 

I am curious what's the initial value of BTS will be? It's tradeable, so compared with pts, it's price will be higher or lower?

Cheers. Updated my post. As a primary PTS holder, I guess I have to brace myself for the PTS price dropping in the near future.

Since each PTS gives you more than 1 BTSX; I assume initially it will be lower. Besides, there is also the supply question - BTSX will have 4 million coins in existence right off the bat; while PTS is almost a third.

Initially, since its just 'test' shares I doubt it will have much value anyways. More interesting is the scenario where the BTSX works as promised (either the first test or a latter chain). There is a sea of difference between a promised product (as is the situation now) and having one that actually works - will probably send the price skyrocketing.

Offline ripplexiaoshan

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Sounds great, just one small correction, by 28th Feb, around 1.5M PTS will be mined, not 1.2M. So far, 1.396M has been mined. 

I am curious what the initial value of BTS will be? It's tradable, so compared with pts, its price will be higher or lower?
« Last Edit: January 29, 2014, 11:46:18 pm by ripplexiaoshan »
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sumantso

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As you may be aware, the test snapshot for BTSX will be taken on 28th February. Initially I assumed since its just a test, the actual one may come some time later. However, Byetmaster mentions this

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.

So, if that test DOES become a success (and I guess there is a big chance it will be not) then you will get more than 3.3 BTSx/AGS. Thats an insanely profitable deal.

I know whether to invest in AGS or hold PTS is a long running argument and with the further uncertainity that the test may become the real chain its even more confusing. So all I can say is spend a couple of hours reading through this sub board (or just go through my post history) and make up your own mind.

In short:

On 28th Feb keep your PTS in your wallet
Hold onto the PTS and BTC wallets you used for AGS donation (if any) - don't send from an online wallet where you can't get the private key.

2 million BTSX will be divided among the PTS in existence (should be around 1.5m) which means almost 1.3 BTSX/PTS
2 million BTSX will be divided among AGS awarded (would be 3.3 BTSX/AGS for 28th chain and lesser as time goes on)
Both PTS and AGS will give you atleast 10% in all future I3 DACs or DACs using I3 code.
PTS are traded, while AGS can't.

Happy strateging!

EDIT: Updated PTS figures with info from ripplexiaoshan.
« Last Edit: January 29, 2014, 08:07:35 pm by sumantso »