Liquid AGS shares (LAGS fund)

[gamey]

Gamey, I think you are just overthinking it. AdamBL just posted something overstating the future. Something like Stan stating ‘We have great ideas sure to be overtaking the world”… just do not put too much thought/hope in it.

I guess if you wish to call it overthinking, i see it as asking a simple question...  I am just not sure how it would work or what the point/value would be.  I'm not an expert on these things, just trying to understand.  We can't even sell AGS so you can't base anything on the price... I guess if he overstated then that would be the answer.

I think my next thing to examine should probably be etherium smart contracts so see what that is all about.

[Simeon II]

Gamey, I think you are just overthinking it. AdamBL just posted something overstating the future. Something like Stan stating ‘We have great ideas sure to be overtaking the world”… just do not put too much thought/hope in it.

[gamey]

Since AGS has a private key, I am just wondering how the protocol would work. It can't have the AGS private key, so .... how would it work ?  Sounds like someone oversold their tech somewhere.   Private keys can't be transferred and private keys control the dividends from AGS.

[jwiz168]

Maybe Adam was referring to the completion of AGS funding. But definitely AGS was long been released.

[Simeon II]

Once "AGS" is released  there will be many derivatives that trade on other protocols representing it.  "XAGS" or whatever

What do you mean by:

-"AGS" is released 
-on other protocols ?
-other protocols representing it

[gamey]

Once "AGS" is released there will be many derivatives that trade on other protocols representing it.  "XAGS" or whatever

How would this work ?

[AdamBLevine]

Once "AGS" is released there will be many derivatives that trade on other protocols representing it.  "XAGS" or whatever

[tonyk]

Point taken…
 I was having some ideas, similar to that earlier today; just in case I end up doing the distribution  manually/semi-manually – though about 1 LAGS ~~=5 AGS+ ( i.e. target of 5+ AGS/LAGS instead of 1+/1 AGS/LAGS); plus (maybe) no decimal shares ( I think NXT lets you choose that)

[gamey]

‘...give you their public keys to their Bitshares wallet’
As long as those are their public keys I think this would not be a problem.
 Or I am missing something here?

It just requires human interaction etc.  You could use the NXT messaging system to receive the public keys.  Initially I was just thinking it could be written in one glorious script so that management overhead would be minimal.

 I don't think you're missing anything ... but it just adds to work.

What happens when someone buys the asset/shares on AE but fails to give you a key ?  you'll have to keep track of all that etc.  When you can do it in one monolithic process, then it is better for everyone.  However, if you are committed to dealing with all the little issues then go for it.  You might want to specify a minimum investment to keep a sanity level.  Otherwise you'll end up where you are expecting .05 USD in revenue from someone, but still have to keep track of their key etc.

[tonyk]

‘...give you their public keys to their Bitshares wallet’
As long as those are their public keys I think this would not be a problem.
 Or I am missing something here?

[gamey]

One thing I realized is that ...  if the Bitshares DACs pay their dividends in shares, then it will be hard to utilize NXT's virtual corporation code to send those shares.  When I proposed my ideas I was thinking the DACs would pay in something that NXT could utilize..  But you're talking Bitshares DAC shares being paid according to NXT AE.  This will not work unless you translate the Bitshares DAC shares into NXT before paying them out..  Or you add another layer of complexity where people who own the NXT asset give you their public keys to their Bitshares wallet.

[tonyk]

‘There is so much stuff that is illegal that you might want to look into how you word this stuff.  Trustees might be scared because of the way the US government works and mandatory sentencing.  Some attorney general in New York could ruin anyone for the rest of their life on a whim. Not likely, but very much possible.’
Yes, a lot of what seems normal business is heavily regulated. A lot of ‘no harm to no one’ activities are even considered crime. But considering that I know of I guy working from US, who will not only write the code for decentralized but still “Bank” and “Exchange, he will also be the biggest stockholder in it, and will control the significant part of the ‘nodes/delegates’ that insures its operation; my small ‘investor/donator’ club should not be the top priority of the guardians of the existing order…

‘I've noticed you respond to my posts so I decided to return the favor. ‘
My primary job is a tedious one that requires a lot of long hours, with not much to do, but monitor ‘activities’… 99.9% of the time there is nothing to actually monitor, so I just hang on 5, 6 places and if something interests me, I post in response my ‘largely inconsequential’ thoughts…

'The interesting thing is you could do this immediately if you found enough people to own a pts key.'
Your suggestion with the representatives/trustees definitely improves the chances to this idea succeeding! That is why I like your proposal a lot!
 Without those improvements I can start this (expecting everyone to just trust me) literally tomorrow.

[gamey]

Thanks! Great start of the discussion!

‘I am not sure what you would do with unpurchased shares.  Does NXT have a proof of burn address ?’
This is one of the things that I do not hove solution to. One workable (I think) solution is sending to all remaining shares to the shareholders proportionally to their stake.

‘I'm skipping out all the buyback rules’
Should not be a major issue as they concern/involve  accounting transaction only( # of LAGS shares and the underlying currency (NXT in this case))

 I responded because I hate it when I post something and no one responds.  I've noticed you respond to my posts so I decided to return the favor.  Thinking these things through is always good for increasing our understanding.

I think that at the end of AGS, transferring remaining shares to everyone in a proportional way would work.  It woud also keep the bookkeeping nice and clean.  No special case for unpurhased assets etc.

The interesting thing is you could do this immediately if you found enough people to own a pts key.

There is so much stuff that is illegal that you might want to look into how you word this stuff.  Trustees might be scared because of the way the US government works and mandatory sentencing.  Some attorney general in New York could ruin anyone for the rest of their life on a whim. Not likely, but very much possible.

The upside is you could start this tommorow adn then when NXT releases their the remaining aspects of their toolkit, you could make the dividend payment system quite simple without a lot of code.

Unfortuntaely i think it will be some time before the moneytruck backs up our homes to unload.

[tonyk]

Liquidity is what Bitshares-PTS is for...

Those that donated to the fund knew or should have known that AGS wasn't going to be liquid.
AGS funds is the equivalent to funds on kickstarter. The difference here is that we get equity unlike on kickstarter. I'm sure the people that donated money to the Oculus Rift team would have liked some equity especially now that Facebook bought Oculus Rift for $2 billion.

Do not worry too much, AGS will in all likelihood stay non-liquid forever. This thread is for folks  who think decision/s may exist to approximate (as close as possible) liquidity of AGS, as well as for those who voice their opinions why it could not be achieved.

Do you know what I like about constructive criticism… it can have (although not always have) constructive/ positive consequences.
 So, let’s try to do that!

[jae208]

Liquidity is what Bitshares-PTS is for...

Those that donated to the fund knew or should have known that AGS wasn't going to be liquid.
AGS funds is the equivalent to funds on kickstarter. The difference here is that we get equity unlike on kickstarter. I'm sure the people that donated money to the Oculus Rift team would have liked some equity especially now that Facebook bought Oculus Rift for $2 billion.