Author Topic: Exchanges Honoring PTS / BTS Split on the 28th  (Read 4636 times)

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Offline bytemaster

I feel this is cool that the exchanges are doing it, but the whole time zone and dates makes it a bit confusing.
Plus rundown clock on invictus.io website hasn't been working for me today.
end of February GMT is what I'm sticking with I guess.

Hey can anyone confirm from bitshares, that this is going to happen with BTS and exchanges? wouldn't the exchanges have to be working in tandem with Bitshares to aquire BTS?

Exchanges who hold PTS private keys get it automatically.  If they are 100% backed exchanges then they will automatically have access to the BTS when someone launches the first XT chain.
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Offline Pauly

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I feel this is cool that the exchanges are doing it, but the whole time zone and dates makes it a bit confusing.
Plus rundown clock on invictus.io website hasn't been working for me today.
end of February GMT is what I'm sticking with I guess.

Hey can anyone confirm from bitshares, that this is going to happen with BTS and exchanges? wouldn't the exchanges have to be working in tandem with Bitshares to aquire BTS?

Offline popete

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beta.beeeeer.org and PTS pool could do the same but not reach the minimum of withdraw

Offline graffenwalder

Cryptsy seems to have replaced the name of Protoshares with Bitshares, don't know if that means anything.


Am I understanding this correctly, while most will have to wait to claim their new bitshares until a wallet import tool etc. are ready, but people who have PTS on BTER will be able to immediately start trading bitshares on March 1?

To clarify:

Maybe you're getting information somewhere else, but the article at https://bter.com/article/177 does not say that you can start trading bitshares on March 1. It says that PTS trading resumes after the trading halt. If Bter allowed Bitshare trading pre-launch, that would essentially turn them into a futures exchange. That would be cool, but unless Bter's pockets are deeper than I think they are, it would be a monumentally risky move. :)

Why? They know exactly how much BTS every PTS account would get. So even in the case of a reset it wouldn't matter, as long as they don't allow withdrawals until the xt chain is safe.

Offline biophil

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Cryptsy seems to have replaced the name of Protoshares with Bitshares, don't know if that means anything.


Am I understanding this correctly, while most will have to wait to claim their new bitshares until a wallet import tool etc. are ready, but people who have PTS on BTER will be able to immediately start trading bitshares on March 1?

To clarify:

Maybe you're getting information somewhere else, but the article at https://bter.com/article/177 does not say that you can start trading bitshares on March 1. It says that PTS trading resumes after the trading halt. If Bter allowed Bitshare trading pre-launch, that would essentially turn them into a futures exchange. That would be cool, but unless Bter's pockets are deeper than I think they are, it would be a monumentally risky move. :)
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Offline muse-umum

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Cryptsy seems to have replaced the name of Protoshares with Bitshares, don't know if that means anything.


Am I understanding this correctly, while most will have to wait to claim their new bitshares until a wallet import tool etc. are ready, but people who have PTS on BTER will be able to immediately start trading bitshares on March 1?

Yes... but not withdraw BitShares until the software is ready to do so.

BTER released their schedule where we can see the snapshot taken time as they say is Feb.28 2014 24:00:00 GST.  But in my memory GMT is the right one instead of GST .  Can you please help clarify this ?

You may check the BTER schedule here https://bter.com/article/177

Offline bytemaster

Cryptsy seems to have replaced the name of Protoshares with Bitshares, don't know if that means anything.


Am I understanding this correctly, while most will have to wait to claim their new bitshares until a wallet import tool etc. are ready, but people who have PTS on BTER will be able to immediately start trading bitshares on March 1?

Yes... but not withdraw BitShares until the software is ready to do so. 
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 mint chocolate chip

Cryptsy seems to have replaced the name of Protoshares with Bitshares, don't know if that means anything.


Am I understanding this correctly, while most will have to wait to claim their new bitshares until a wallet import tool etc. are ready, but people who have PTS on BTER will be able to immediately start trading bitshares on March 1?

Offline graffenwalder

Sorry false alarm, it seems they have changed the name of PTS in bitshares sorry

Offline graffenwalder

Just checked my cryptsy account, on the balances tap it says X amount cryptsy points next to it 0.000 Bitshares!!!!

Edit: this is the dashboard tap
« Last Edit: February 27, 2014, 06:02:26 pm by Graffenwalder »

Offline muse-umum

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BTER released their schedule where we can see the snapshot taken time as they say is Feb.28 2014 24:00:00 GST.  But in my memory GMT is the right one instead of GST .  Can anyone from 3I help clarify this ?

You may check the BTER schedule here https://bter.com/article/177

Offline cass

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We have likely commitments from btc38 and bter that they will be honoring the BTS split from PTS on the 28th.   You will not be able to withdraw your BTS from these exchanges until after the BitShares XT network is finalized and assumed secure (not needing a reset).  This provides an interesting option for people wishing to speculate on BitShares X during the testing phase.

We will be getting more information regarding how these exchanges will handle this prior to the 28th.   So do not consider this an 'all clear' to leave your balance there, but do be on notice that this option may be available to you.

any update on this?
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Offline adistman

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nice, 29th on Feb, maybe 2016 can do...
PTS:PgyN7fJ5d9bCkcQLUXxoaQ87KvT9ZQMqus
BTC:18CrpUSta2KpPhuP3XGbSSdEYgBzEoTaH7

Offline Markus

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so that means it would be possible to hold pts on bter/btc38 on snap shot date?
How would that provide options for speculators? By trading BterBTS against BTS?

By allowing people to buy and sell their BTS positions into/out of Bitcoin.

Sorry for not getting it. Isnt this what an exchange is supposed to do? Or will that be possible before the 28th?

You have an account on an exchange with X PTS in it on Feb 28 (morning). On Feb 29, you should still have X PTS in your account if you didn't buy/sell. The question was, what happens to the BTS that were generated corresponding to your PTS account? The exchanges now say that they will honor your BTS, so you will now have BTS on their exchange in addition to PTS, but they won't let you withdraw BTS (but you can trade for other currencies).

This gives options to speculators because previously it was thought people would have to withdraw all their PTS to their private wallets before Feb 28 to get BTS, then transfer their BTS to an exchange after Feb 28. Now you can, possibly, leave your PTS at the exchange and trade BTS when they show up (even sell them all for BTC and withdraw your BTC).

Don't confuse people with a Feb 29.
Where bter and btc38 are located the snapshot is actually taken on 1st March, just after sunrise.

Offline maqifrnswa

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so that means it would be possible to hold pts on bter/btc38 on snap shot date?
How would that provide options for speculators? By trading BterBTS against BTS?

By allowing people to buy and sell their BTS positions into/out of Bitcoin.

Sorry for not getting it. Isnt this what an exchange is supposed to do? Or will that be possible before the 28th?

You have an account on an exchange with X PTS in it on Feb 28 (morning). On March 1, you should still have X PTS in your account if you didn't buy/sell. The question was, what happens to the BTS that were generated corresponding to your PTS account? The exchanges now say that they will honor your BTS, so you will now have BTS on their exchange in addition to PTS, but they won't let you withdraw BTS (but you can trade for other currencies).

This gives options to speculators because previously it was thought people would have to withdraw all their PTS to their private wallets before Feb 28 to get BTS, then transfer their BTS to an exchange after Feb 28. Now you can, possibly, leave your PTS at the exchange and trade BTS when they show up (even sell them all for BTC and withdraw your BTC).

Edit: stupid leap days
« Last Edit: February 24, 2014, 01:33:56 pm by maqifrnswa »
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