This is the most confusing IPO of all time, wtf am I supposed to do?

[AdamBLevine]

I've heard multiple people say it was better to eliminate mining and add angelshares because that "makes the deal better for PTS holders"  but really that's a bunch of garbage.

Before if you wanted to get Bitshares you could do it one of two ways - Acquire Protoshares or Mine Bitshares when it came out.   That meant anyone not wanting to mine or risk buying at post-launch market prices had to buy Protoshares, it was the only way.

Of course, Invictus didn't make any money off of that and so here comes Angelshares and the new deal where now instead of 10% of BTS going to PTS holders and 90% being mined over a number of years, it would be 50% with the other 50% going towards Angelshares holders.    This makes sense for Invictus because now they have money pouring in, but for PTS holders?  It means that your exclusivity is not only gone but so is any advantage you had.  Since 100% of the money supply is out day one you'll have immediately depressed prices as people sell to recapitalize some of their gains in Bitcoin or move out entirely as they see the financial opportunity having passed. 

Again, this is fine for Invictus, they got the funds and aren't much impacted except being able to buy more of the cheap BTS themselves.  It does however make one wonder why it was even worth buying or acquiring PTS since a) BTS will be available cheaply due to over supply and b) PTS is the WORST way to vest yourselves with Bitshares because of the math at work.   On February 28th Protoshares holders will get 1-1.5 Bitshares per PTS.  On February 28th Angelshares holders will get 3-4 Bitshares per AGS.   They both "cost" the same, but the more people who go into angelshares per day the worse the deal is for all of them.  Protoshares holders have the option of getting the worst return on investment available or giving their money to invictus and competing with everybody else for the remaining AGS before none of this matters any more.

When the deal gets better for someone, it gets worse for someone else.   I continue to be disappointed by the inability to acknowledge that.

[maqifrnswa]

PTS'ers get to keep their PTS and sell/use it later on. What about AGS guys?

As said above, AGS guys get to use their AGS again later on, but they don't get to sell it.

You could, in theory, sell the private keys to your wallet to someone - thus selling all future proceeds from AGS. But there are so many ways that can go wrong (socially, not technically).

[oco101]

I agree, I own PTS, was under the impression only PTS would convert to bitshares. I guess they threw in another blockchain (Bitshares AGS), thereby halving the PTS value distribution.

Actually, you where suppose to get 1:1 BTSX NOW you get 1.3 BTSX so better deal. Also there are only 4 million BTSX not 21 million BTSX so even better deal on you PTS.
All AGS founds will be used to develop the DAC ecosystem. Have a DAC idea ? Well now there are funds for that.
Could be confusing I agree but I think taking the time to understand it will pay dividends.

PTS'ers get to keep their PTS and sell/use it later on. What about AGS guys?

AGS are not liquid so you can't sell them, but you can always sell the share from the DAC's that are created. Like BTSX nobody stops you to sell all the BTSX share that you have. And on the future DAC  you'll got a minimum 10% share allocated for AGS holders. So more share for you.
So basically  you sell the golden egg not the golden goose.

[Whiskeylake]

I agree, I own PTS, was under the impression only PTS would convert to bitshares. I guess they threw in another blockchain (Bitshares AGS), thereby halving the PTS value distribution.

Actually, you where suppose to get 1:1 BTSX NOW you get 1.3 BTSX so better deal. Also there are only 4 million BTSX not 21 million BTSX so even better deal on you PTS.
All AGS founds will be used to develop the DAC ecosystem. Have a DAC idea ? Well now there are funds for that.
Could be confusing I agree but I think taking the time to understand it will pay dividends.

PTS'ers get to keep their PTS and sell/use it later on. What about AGS guys?

[oco101]

I agree, I own PTS, was under the impression only PTS would convert to bitshares. I guess they threw in another blockchain (Bitshares AGS), thereby halving the PTS value distribution.

Actually, you where suppose to get 1:1 BTSX NOW you get 1.3 BTSX so better deal. Also there are only 4 million BTSX not 21 million BTSX so even better deal on you PTS.
All AGS founds will be used to develop the DAC ecosystem. Have a DAC idea ? Well now there are funds for that.
Could be confusing I agree but I think taking the time to understand it will pay dividends.

[Markus]

50 % of all BTSX will be given to all PTS holders. This is narrowing the first promise of at least 10 %.
The other 50 % of all BTSX will be give to all AGS holders.

AGS is not a blockchain nor is it tradeable.
You can gain AGS by donating to the Angel addresses.
You can donate using either PTS or BTC.
The donations of one calendar day (GMT) compete for 10000 AGS.
The amount of AGS you receive will be (5000 * your BTC donation / total daily BTC donations) + (5000 * your PTS donation / total daily PTS donations)

1 AGS will give you 3.333333… BTSX.
1 PTS will give you roughly 1.3 BTSX.

Currently the way to get most BTSX per dollar is through AGS.

[pgbit]

AGS has, I think, helped the value of PTS very positively, as AGS are being issued in addition, plus you can get AGS with PTS so this has increased the scarcity of PTS. PTS holders havent lost anything percentage wise as I understand it, its just Invictus have launched the AGS fundraising system as an alternative way to acquire bitshares. Just take a look at what has been raised, and you will see the additional confidence in the market now, especially over the last few days.


Sent from my iPad using Tapatalk

[dirktadwater]

I agree, I own PTS, was under the impression only PTS would convert to bitshares. I guess they threw in another blockchain (Bitshares AGS), thereby halving the PTS value distribution.

[Whiskeylake]

So I want to get as much Bitshare X as possible obviously like anyone else, but how do one go about doing that?

Buy PTS ? Buy AGS? And what about the donations, how does that work?

This is so fucking confusing and I'm experiencedin the crypto world, yet this is just puzzling.