Author Topic: The Intrinsic Value of BitShares PTS (Update from Bytemaster)  (Read 17705 times)

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Offline marketp2p

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Re: The Intrinsic Value of Protoshares (Update from Bytemaster)
« Reply #15 on: November 17, 2013, 04:32:15 am »

1) All chains Invictus launches will be derived from ProtoShares with a 1:1 mapping and 10% of the ultimate money supply of that chain.
2) ProtoDomains may Split from ProtoShares prior to the Launch of DomainShares so that it can be traded and valued separately.   
3) Keyhotee ID is not a currency, there is no way to map ProtoShares into Keyhotee ID (the name chain)
4) There will be many BitShares based chains, not one, and all of them will be 1:1 with ProtoShares
5) We reserve the right to release ProtoShares v2 that honors 100% of ProtoShares v1 with 100% of the money supply allocated. 
6) Associated Press, DAC would honor ProtoShares

Exceptions to the ProtoShares honoring would be if we decided to release a true competitor to be used as a money-only coin and not a trading platform.  In this case we may choose to honor the initial positions in ALL existing *-coin chains proportional to their market cap. 

I want to make it very clear that at no time will we 'reset the clock' for a new chain and owning ProtoShares today does get you ownership in everything we do in the future either directly or indirectly.
Sounds like the plan is to have many chains with different purposes, will that make them more susceptible to 51% attacks and losing synergetic benefit from combined mining power?

Offline bytemaster

Re: The Intrinsic Value of Protoshares (Update from Bytemaster)
« Reply #16 on: November 17, 2013, 04:35:34 am »

1) All chains Invictus launches will be derived from ProtoShares with a 1:1 mapping and 10% of the ultimate money supply of that chain.
2) ProtoDomains may Split from ProtoShares prior to the Launch of DomainShares so that it can be traded and valued separately.   
3) Keyhotee ID is not a currency, there is no way to map ProtoShares into Keyhotee ID (the name chain)
4) There will be many BitShares based chains, not one, and all of them will be 1:1 with ProtoShares
5) We reserve the right to release ProtoShares v2 that honors 100% of ProtoShares v1 with 100% of the money supply allocated. 
6) Associated Press, DAC would honor ProtoShares

Exceptions to the ProtoShares honoring would be if we decided to release a true competitor to be used as a money-only coin and not a trading platform.  In this case we may choose to honor the initial positions in ALL existing *-coin chains proportional to their market cap. 

I want to make it very clear that at no time will we 'reset the clock' for a new chain and owning ProtoShares today does get you ownership in everything we do in the future either directly or indirectly.
Sounds like the plan is to have many chains with different purposes, will that make them more susceptible to 51% attacks and losing synergetic benefit from combined mining power?

All of our future chains that support a common proof-of-work will support merged mining.   

http://letstalkbitcoin.com/is-bitcoin-overpaying-for-false-security/

 
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 marketp2p

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Re: The Intrinsic Value of Protoshares (Update from Bytemaster)
« Reply #17 on: November 17, 2013, 05:25:23 pm »
Great to see those ambitious plans. Still have a few questions though:

1. Are all projects open sourced? If so, for the development and releases, are you going to use Bitcoin OS model, or Ripple's model?

2. Where can I find more info on the dev team?

3. What are possible scenarios that the projects can fail?

If this is not the proper thread asking these question, please feel free to direct me to the right place.

Thanks in advance. 

Offline bytemaster

Re: The Intrinsic Value of Protoshares (Update from Bytemaster)
« Reply #18 on: November 17, 2013, 07:33:48 pm »
Great to see those ambitious plans. Still have a few questions though:

1. Are all projects open sourced? If so, for the development and releases, are you going to use Bitcoin OS model, or Ripple's model?

2. Where can I find more info on the dev team?

3. What are possible scenarios that the projects can fail?

If this is not the proper thread asking these question, please feel free to direct me to the right place.

Thanks in advance.

All projects will be open source and have been from day 1.
https://github.com/InvictusInnovations

Our Team:
http://invictus-innovations.com/home-2/

Failure Scenarios:
1) Someone gets to market first?
2) Legal Harassment from Governments
3) Random Busses taking out key players
4) Unknown Unknowns.
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 marketp2p

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Re: The Intrinsic Value of Protoshares (Update from Bytemaster)
« Reply #19 on: November 17, 2013, 08:49:26 pm »
great. thanks for the reply.

Offline luckybit

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Re: The Intrinsic Value of Protoshares (Update from Bytemaster)
« Reply #20 on: November 18, 2013, 12:57:33 pm »
Here is how I came up with a speculative value. Protoshares receive 50% of dividends from mining right? That is the formula? Asicminer never achieved 50% of the mining profitability of the network and how much was a share of Asicminer worth at it's peak? Around 5 BTC per share?

Now there were only 400,000 Asicminer shares if my memory serves me correctly and there are 2 million Protoshares. 1 BTC per protoshare seems reasonable if the dividends are good enough and it could go up to 2 or 3 BTC.

But don't anyone hold me to it because I don't know anything about the plans and could be wrong.
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Offline Stan

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Re: The Intrinsic Value of Protoshares (Update from Bytemaster)
« Reply #21 on: November 18, 2013, 01:57:41 pm »
Here is how I came up with a speculative value. Protoshares receive 50% of dividends from mining right? That is the formula? Asicminer never achieved 50% of the mining profitability of the network and how much was a share of Asicminer worth at it's peak? Around 5 BTC per share?

Now there were only 400,000 Asicminer shares if my memory serves me correctly and there are 2 million Protoshares. 1 BTC per protoshare seems reasonable if the dividends are good enough and it could go up to 2 or 3 BTC.

But don't anyone hold me to it because I don't know anything about the plans and could be wrong.

ProtoShares' current release does not pay dividends.  It is a path to owning shares of other DACs when they launch, many of which will pay dividends. BitShares, for example, will pay dividends as will most Invictus DACs.  Since each DAC is an independent unmanned business, other DACs from various developers may have different business models, including their own built-in transparent rules for if and how they pay dividends. This is a balance between rewarding owners (shareholders) and workers (miners), like any brick and mortar and flesh and blood business. Each developer is of course free to experiment with publishing rules that will make its DACs most attractive to investors and miners.
Anything said on these forums does not constitute an intent to create a legal obligation or contract of any kind.   These are merely my opinions which I reserve the right to change at any time.

Offline phoenix

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Re: The Intrinsic Value of Protoshares (Update from Bytemaster)
« Reply #22 on: November 18, 2013, 06:45:48 pm »
Here is how I came up with a speculative value. Protoshares receive 50% of dividends from mining right? That is the formula? Asicminer never achieved 50% of the mining profitability of the network and how much was a share of Asicminer worth at it's peak? Around 5 BTC per share?

Now there were only 400,000 Asicminer shares if my memory serves me correctly and there are 2 million Protoshares. 1 BTC per protoshare seems reasonable if the dividends are good enough and it could go up to 2 or 3 BTC.

But don't anyone hold me to it because I don't know anything about the plans and could be wrong.

ProtoShares' current release does not pay dividends.  It is a path to owning shares of other DACs when they launch, many of which will pay dividends. BitShares, for example, will pay dividends as will most Invictus DACs.  Since each DAC is an independent unmanned business, other DACs from various developers may have different business models, including their own built-in transparent rules for if and how they pay dividends. This is a balance between rewarding owners (shareholders) and workers (miners), like any brick and mortar and flesh and blood business. Each developer is of course free to experiment with publishing rules that will make its DACs most attractive to investors and miners.

Interesting, so if you give to much to the investors, most people won't want to mine. But if you give to much to the miners, most people won't want to invest. Developers will need to find the right balance of rewards in order to maximize the growth of their DACs
Protoshares: Pg5EhSZEXHFjdFUzpxJbm91UtA54iUuDvt
Bitmessage: BM-NBrGi2V3BZ8REnJM7FPxUjjkQp7V5D28

Offline luckybit

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Re: The Intrinsic Value of Protoshares (Update from Bytemaster)
« Reply #23 on: November 19, 2013, 11:13:56 am »
Here is how I came up with a speculative value. Protoshares receive 50% of dividends from mining right? That is the formula? Asicminer never achieved 50% of the mining profitability of the network and how much was a share of Asicminer worth at it's peak? Around 5 BTC per share?

Now there were only 400,000 Asicminer shares if my memory serves me correctly and there are 2 million Protoshares. 1 BTC per protoshare seems reasonable if the dividends are good enough and it could go up to 2 or 3 BTC.

But don't anyone hold me to it because I don't know anything about the plans and could be wrong.

ProtoShares' current release does not pay dividends.  It is a path to owning shares of other DACs when they launch, many of which will pay dividends. BitShares, for example, will pay dividends as will most Invictus DACs.  Since each DAC is an independent unmanned business, other DACs from various developers may have different business models, including their own built-in transparent rules for if and how they pay dividends. This is a balance between rewarding owners (shareholders) and workers (miners), like any brick and mortar and flesh and blood business. Each developer is of course free to experiment with publishing rules that will make its DACs most attractive to investors and miners.

Interesting, so if you give to much to the investors, most people won't want to mine. But if you give to much to the miners, most people won't want to invest. Developers will need to find the right balance of rewards in order to maximize the growth of their DACs

I think there needs to be a DAC manual.
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Offline Stan

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Re: The Intrinsic Value of Protoshares (Update from Bytemaster)
« Reply #24 on: November 19, 2013, 01:33:00 pm »
Here is how I came up with a speculative value. Protoshares receive 50% of dividends from mining right? That is the formula? Asicminer never achieved 50% of the mining profitability of the network and how much was a share of Asicminer worth at it's peak? Around 5 BTC per share?

Now there were only 400,000 Asicminer shares if my memory serves me correctly and there are 2 million Protoshares. 1 BTC per protoshare seems reasonable if the dividends are good enough and it could go up to 2 or 3 BTC.

But don't anyone hold me to it because I don't know anything about the plans and could be wrong.

ProtoShares' current release does not pay dividends.  It is a path to owning shares of other DACs when they launch, many of which will pay dividends. BitShares, for example, will pay dividends as will most Invictus DACs.  Since each DAC is an independent unmanned business, other DACs from various developers may have different business models, including their own built-in transparent rules for if and how they pay dividends. This is a balance between rewarding owners (shareholders) and workers (miners), like any brick and mortar and flesh and blood business. Each developer is of course free to experiment with publishing rules that will make its DACs most attractive to investors and miners.

Interesting, so if you give to much to the investors, most people won't want to mine. But if you give to much to the miners, most people won't want to invest. Developers will need to find the right balance of rewards in order to maximize the growth of their DACs

I think there needs to be a DAC manual.

We are attempting to keep a link to every article and white paper we find on the DACs and links tabs at invictus-innovations.com.  If you see a good publication we're missing, let us now and we'll link to it there.
Anything said on these forums does not constitute an intent to create a legal obligation or contract of any kind.   These are merely my opinions which I reserve the right to change at any time.

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Re: The Intrinsic Value of Protoshares (Update from Bytemaster)
« Reply #25 on: November 26, 2013, 03:49:30 pm »
I'm quite new to PTS, Mining, Bitcoins and bitshares and all that. But i'm very intrigued, when i started reading about it last night.


Can anyone say something about the timeline of protoshares, 1 week, a month or a year from now. What is expected to happen. and what would people want to see happen?

Offline voldemort628

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Re: The Intrinsic Value of Protoshares (Update from Bytemaster)
« Reply #26 on: November 28, 2013, 09:54:29 am »
I'm quite new to PTS, Mining, Bitcoins and bitshares and all that. But i'm very intrigued, when i started reading about it last night.


Can anyone say something about the timeline of protoshares, 1 week, a month or a year from now. What is expected to happen. and what would people want to see happen?

if anyone actually does know the answers for your questions with 100% accuracy, they wont tell you haha.
but one thing u can be pretty sure of is that pts and bitshares have a bright future ahead ;)
how about that ?

Offline Gekko

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Re: The Intrinsic Value of Protoshares (Update from Bytemaster)
« Reply #27 on: November 29, 2013, 01:22:26 pm »
Can anyone say something about the timeline of protoshares, 1 week, a month or a year from now. What is expected to happen. and what would people want to see happen?
http://invictus-innovations.com/protoshares says:
"BitShares should be fully developed and deployed within 6 months to 1 year."

Offline MrJeans

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Re: The Intrinsic Value of Protoshares (Update from Bytemaster)
« Reply #28 on: December 03, 2013, 05:15:49 pm »

4) There will be many BitShares based chains, not one, and all of them will be 1:1 with ProtoShares

What is meant by 4) above. Are we talking about the different alt currencies that will be pegged to various fiat currencies or commodities (like BitUSD or BitGold)?

Offline Lighthouse

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Re: The Intrinsic Value of Protoshares (Update from Bytemaster)
« Reply #29 on: December 03, 2013, 05:23:51 pm »

4) There will be many BitShares based chains, not one, and all of them will be 1:1 with ProtoShares

What is meant by 4) above. Are we talking about the different alt currencies that will be pegged to various fiat currencies or commodities (like BitUSD or BitGold)?

No, they're saying that in the future the ratio might be different than 1:1 - So there might be examples where for every 10 PTS you have you get 1 of the new chain (1:10), or for every 1 PTS you have you get 100 of the new chain (100:1).

Things could change with unannounced chains, they're leaving their options open to experiment.
Before you say the price of PTS is too high, take a look at theThe Reason.  Protoshares are an entirely new type of Cryptocurrency, one that pays to hold.