Author Topic: Concerns about AGS donations being reinvested in AGS  (Read 6986 times)

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Offline bytemaster

Re: Concerns about AGS donations being reinvested in AGS
« Reply #15 on: June 11, 2014, 03:20:03 pm »
For more specific answers Stan will have to get involved As he is the manager of the payroll company Formerly known as Invictus.



Right… leave the specific answers to Stan… I have been on this forum for close to 6 m. now. I have not read a specific answer from him.  He can write you a good book with  a lot of metaphors, allegories and even ‘appropriate’ pictures, but if you blink you have missed the important information in some comparison of the DACs shares to golden eggs laid by a Duck hatched by PTS eggs in the previous DAC or Duck. Let him make an important announcement regarding the unmined yet PTS, and how they will be used at the sole discretion of Invictus (or is it Socrates or Hyperetas) for advertising - hidden in a thread named of all things “Rest in Peace, DA”. Ask him where the money went and he will post you a nice picture of ancient Greek ship and will even explain to you the inner workings of the ship and where the name comes from … I hope you catch my drift

He does have a way with words. 
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Offline tonyk

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Re: Concerns about AGS donations being reinvested in AGS
« Reply #16 on: June 11, 2014, 03:36:30 pm »
For more specific answers Stan will have to get involved As he is the manager of the payroll company Formerly known as Invictus.



Right… leave the specific answers to Stan… I have been on this forum for close to 6 m. now. I have not read a specific answer from him.  He can write you a good book with  a lot of metaphors, allegories and even ‘appropriate’ pictures, but if you blink you have missed the important information in some comparison of the DACs shares to golden eggs laid by a Duck hatched by PTS eggs in the previous DAC or Duck. Let him make an important announcement regarding the unmined yet PTS, and how they will be used at the sole discretion of Invictus (or is it Socrates or Hyperetas) for advertising - hidden in a thread named of all things “Rest in Peace, DA”. Ask him where the money went and he will post you a nice picture of ancient Greek ship and will even explain to you the inner workings of the ship and where the name comes from … I hope you catch my drift

Is this somehow unclear? Should we make tl;dr's in every post?

Quote
Hyperetas receives its operating budget from the BitShares Trust.   It makes payments in BTC, PTS, USD and soon many others, as specified and documented in a group of public spreadsheets which are checked frequently by bitcountant.com.  One of the services it performs is handling trading on BitStamp, Cryptsy, and Bter and so enough funds are provided in advance to allow Hyperetas to do conversions on these exchanges when market conditions are most favorable.  We try to keep a balance of about $100K in these accounts so that we never have to trade at a bad time in order to make a payment.

As for recycling of AGS, we have said we would not do that.  Period.  We have also said that once we pay employees or vendors for their services, the money is theirs to do with what they please.  It does not surprise us that people working in this industry would want to donate some or all of their earnings to the cause and we have publicly encouraged this from the very beginning.

No everything is clear - the money were used to build replica of an ancient Greek ship.  Correct?
Lack of arbitrage is the problem, isn't it. And this 'should' solves it.

Offline toast

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Re: Concerns about AGS donations being reinvested in AGS
« Reply #17 on: June 11, 2014, 03:37:12 pm »
Quote
Hyperetas receives its operating budget from the BitShares Trust.   It makes payments in BTC, PTS, USD and soon many others, as specified and documented in a group of public spreadsheets which are checked frequently by bitcountant.com.  One of the services it performs is handling trading on BitStamp, Cryptsy, and Bter and so enough funds are provided in advance to allow Hyperetas to do conversions on these exchanges when market conditions are most favorable.  We try to keep a balance of about $100K in these accounts so that we never have to trade at a bad time in order to make a payment.

As for recycling of AGS, we have said we would not do that.  Period.  We have also said that once we pay employees or vendors for their services, the money is theirs to do with what they please.  It does not surprise us that people working in this industry would want to donate some or all of their earnings to the cause and we have publicly encouraged this from the very beginning.
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Offline tonyk

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Re: Concerns about AGS donations being reinvested in AGS
« Reply #18 on: June 11, 2014, 03:45:16 pm »
Good, I knew where the money come FROM already, I am just concern what happened to the SHIP....





« Last Edit: June 11, 2014, 05:37:36 pm by tonyk »
Lack of arbitrage is the problem, isn't it. And this 'should' solves it.

Offline toast

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Re: Concerns about AGS donations being reinvested in AGS
« Reply #19 on: June 11, 2014, 03:54:50 pm »
$100k held as buffer month-to-month, the rest paid to employees.
Or did you mean you want to know our individual salaries as well?
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Offline liondani

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Re: Concerns about AGS donations being reinvested in AGS
« Reply #20 on: June 11, 2014, 03:57:46 pm »
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Offline Stan

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Re: Concerns about AGS donations being reinvested in AGS
« Reply #21 on: June 11, 2014, 04:01:54 pm »

Good, I knew where the money come FROM already, I am just concern what happened to the SHIP....


I'm tempted to use this as an invitation to wax entheusiastic about the merits of the trireme and its tactics of employment.  But alas, there's already a great article about them here:

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Offline tonyk

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Re: Concerns about AGS donations being reinvested in AGS
« Reply #22 on: June 11, 2014, 04:06:40 pm »
$100k held as buffer month-to-month, the rest paid to employees.
Or did you mean you want to know our individual salaries as well?

I thought you do not work for Invictus and/or the new boat...
 And I am surprised with the furious attack on me, when the explanation was FAR from straight and simple…
The 1 sentence quoted above would have been much better answer to start with-"$100k held as buffer month-to-month, the rest paid to employees."
« Last Edit: June 11, 2014, 04:15:27 pm by tonyk »
Lack of arbitrage is the problem, isn't it. And this 'should' solves it.

Offline liondani

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Re: Concerns about AGS donations being reinvested in AGS
« Reply #23 on: June 11, 2014, 04:09:18 pm »
  https://bitshares.OPENLEDGER.info/?r=GREECE  | You are in Control | BUY | SELL | SHORT | SWAP | LOAN | TRADE |  

Offline toast

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Re: Concerns about AGS donations being reinvested in AGS
« Reply #24 on: June 11, 2014, 04:14:38 pm »
$100k held as buffer month-to-month, the rest paid to employees.
Or did you mean you want to know our individual salaries as well?

I thought you do not work for Invictus and/or the new boat...
 And I am surprised with the furious attack on me, when the explanation was FAR from straight and simple…

I said I was not an invictus (hyperetas?) employee, I am an independent DAC developer who is paid by I3.
In this context it seems like a technicality, I had said that in response to Adam's concern that I3 was not sponsoring enough independent efforts in this space.

I wouldn't call it furious, just annoyed - you seem to get it now that I copy/pasted shorter and shorter versions of the original explanation, right?
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Offline tonyk

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Re: Concerns about AGS donations being reinvested in AGS
« Reply #25 on: June 11, 2014, 04:17:31 pm »
 "just annoyed - you seem to get it now that I copy/pasted shorter and shorter versions of the original explanation, right?"

Right!
 Next time you or BT start with an answer like that on first place!



I am also annoyed to no end to be lectured Homer / Shakespeare style on the history of shipbuilding when I look for a one sentence answer to a business issue…
« Last Edit: June 11, 2014, 04:25:09 pm by tonyk »
Lack of arbitrage is the problem, isn't it. And this 'should' solves it.

Offline liondani

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Re: Concerns about AGS donations being reinvested in AGS
« Reply #26 on: June 11, 2014, 04:43:24 pm »
Hope I read this historical post's in the future ... from the moon!

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Offline tonyk

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Re: Concerns about AGS donations being reinvested in AGS
« Reply #27 on: June 11, 2014, 05:10:11 pm »
Or did you mean you want to know our individual salaries as well?

Total # of fulltime/part-time/ developers and #contractor developers + total $ amount, would be nice…
Lack of arbitrage is the problem, isn't it. And this 'should' solves it.

Offline CLains

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Re: Concerns about AGS donations being reinvested in AGS
« Reply #28 on: June 11, 2014, 05:19:44 pm »
Lol! This is all hilarious.  :D

But tonyk is right that announcements need accurate titles, and that the "wonderful style 3000" must be tempered by the required minimalism of busy folk.

There seems to be big shifts going on and it is difficult to understand what the business model is and what future plans the donations enter into.

That being said, I think everyone just wants a solid product on a firm time table and a snapshot announced - these other concerns are just

distraction fidgeting filling the angst-vacuum.

Offline Amazon

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Re: Concerns about AGS donations being reinvested in AGS
« Reply #29 on: June 11, 2014, 05:29:21 pm »
Total # of fulltime/part-time/ developers and #contractor developers + total $ amount, would be nice…

You can find the list of fulltime dev in another post from BM:


Right now funds are being allocated to the following developers:
Eric Frias (C++)
Dan Notestein (C++)
Toast
Hackfisher
Nikita (web)
Vikram (C++)
Me
Arlen
Brian
Nathan
Syncad (Polish+Indian Devs/Testers)

On the operations side:
Pam (books), Stan, Arlen, Brian + Accountant + Legal Consulting + Travel

So we have about 17 full time individuals and many part-timers and misc expenses.     If you divide up the AGS funds among those people you see that we are operating with less than a 12 month runway (PTS funds are not liquid).  So if  you would like us to fund other parties then it will have to come at the expense of some of these individuals having job security for a minimum of 6 months. 
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