Author Topic: Any latest information?  (Read 8665 times)

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Offline toast

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Re: Any latest information?
« Reply #90 on: September 08, 2014, 08:46:55 pm »
you can "transfer" them with cross-chain trading
Do not use this post as information for making any important decisions. The only agreements I ever make are informal and non-binding. Take the same precautions as when dealing with a compromised account, scammer, sockpuppet, etc.

Offline xeroc

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Re: Any latest information?
« Reply #91 on: September 08, 2014, 08:47:10 pm »
So is it possible to transfer BitUSD bought from BTSX market to Bitshares Music blockchain? Or are they totally separated but just only use the same name?
there will be cross-chain trading for bitAssets .. such as the bitUSD
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Offline oldman

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Re: Any latest information?
« Reply #92 on: September 08, 2014, 08:50:35 pm »
Is the 45% presale going to be buy x amount of shares for y price?  Or is it going to be like If say 1000 people participate in the presale then 45% of the shares will be split between them weighted by how much they contribute?

I will be a fixed price in BTC for a fixed amount of Notes. Very similar to what Ethereum did. I believe they started with 2000 ether for 1btc, then scaled it down each few weeks. We are doing the same.
Only the final amount of Notes will not be decided yet. Meaning Notes cannot sell out. So if only 1000 Notes sell in the pre-sale. then that means the total amount of notes on the blockchain will be 2222.22 Notes.
If 1 million Notes sell, that means the total amount of Notes at Genesis block will be 2 222 222 Notes.

For those that have seen the FAQ page, where it says there will be 2billion notes at genesis block, that is out of date, it was based on BitSharesX before the details of the Pre-Sale where written out.


Would recommend sticking with the 2 billion share supply.

As more DACs are born it would advantageous to maintain as much consistency as possible throughout the Bitshares brand.

I'm envisioning seeing the first page of Coinmarket cap populated entirely with successful Bitshares DACs... would look mighty professional if they all started with the same number of shares.

Like soldiers on dress parade. Impressive.

Offline oco101

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Re: Any latest information?
« Reply #93 on: September 08, 2014, 08:54:46 pm »
So is it possible to transfer BitUSD bought from BTSX market to Bitshares Music blockchain? Or are they totally separated but just only use the same name?

Yes this will possible it is called Cross chain trading . Because  bitUSD are fungible it does't matter in what blockchain they are "minted"

see Cob complet answer here :



Look at it this way.

BitUSD is not really a "thing" or a coin, it's 1 USD worth of BTSX. So when you are trading around a BitUSD, you are actually trading around 1 US dollar's worth of purchasing power of crypto... something. On the BitSharesX platform, 1 BitUSD is 1 US dollar's worth of BTSX.

On the BitShares Music Blockchain, the unit is the Note. So if you want to trade 1 BitUSD, you are really trading 1 US dollar's worth of Notes. Which takes the form of a BitUSD.

They both look like a digital US dollar, only if you open it up, one is collateralized by BTSX then other is collateralized by Notes.

I could get a loan at a bank, for 10k USD. They might ask for collateral. I could offer up my Honda Civic.
My friend could go to the bank and also ask for a 10k USD loan. He could offer up his VW Jetta as collateral. We both would have a 10 000 USD loan, but his is back a one type of car, mine is backed by another.

Not the best analogy but I hope it helps haha.

Also yes, Cross chain trading will be an eventual feature in the bitshares space. Bytemaster said so in another thread.

Offline oldman

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Re: Any latest information?
« Reply #94 on: September 08, 2014, 09:11:56 pm »
Not that anybody cares BUT,

I for one am against this music DAC because of:

1)ONLY 10% for PTS and AGS and

•5% to our development team;
•5% to the founders;
•25% to the PeerTracks corporation;

whoever the 'founders' and 'PeerTracks corporation' are

2) Repeated  Ethereum stupidity - total supply of shares to be arrived based on money received and chosen arbitrary ratio (i.e. 2000 Notes per BTC)


1) Is insultingly low for PTS and AGS
I will not repeat myself regarding, what I think of, people having IPO and saying we will keep 25% - in short -"We get all the money + 25% free shares" ridiculous...

2) Is pretty stupid idea in itself.

The allocation for AGS/PTS is fair and honours the social contract.

The social contract is what all AGS/PTS investments were premised on and consequently there should be no expectation of additional allocations.

As [mostly passive] investors we need to acknowledge that it is better to have a small piece of a big pie than a big piece of a small pie.

The social contact is designed to incentivize the creation of big pies, on the order of revolutionizing entire industries, and the profit motive cannot be diluted to a degree that is not attractive.

TL;DR: People gonna get rich, and you want a seat on the train. Not a whole car to yourself...



Offline Riverhead

Re: Any latest information?
« Reply #95 on: September 08, 2014, 09:30:46 pm »
The allocation for AGS/PTS is fair and honours the social contract.

The social contract is what all AGS/PTS investments were premised on and consequently there should be no expectation of additional allocations.

As [mostly passive] investors we need to acknowledge that it is better to have a small piece of a big pie than a big piece of a small pie.

The social contact is designed to incentivize the creation of big pies, on the order of revolutionizing entire industries, and the profit motive cannot be diluted to a degree that is not attractive.

TL;DR: People gonna get rich, and you want a seat on the train. Not a whole car to yourself...

 +5%  Considering the amount of effort I'm putting into the Music DAC (read, none) I feel the allocations are accurate. If it grows to a billion dollar business we'll be rich. If it doesn't succeed than discussing percentages of this and that won't really matter.

There is no shortage of software developers and the Bitshares Toolkit is open source. They could just as easily tell us all to get bent and build it anyway (please don't).

Lastly I feel the music business at the higher levels is more about who you know that's already successful in the business. BitSharesX gains a lot more from grassroots forum member marketing to other cryptoheads.

This is all of course IMHO. I know nothing about the music business except that they get their money for nothing and their chicks for free.  8)

Offline santaclause102

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Re: Any latest information?
« Reply #96 on: September 08, 2014, 09:33:54 pm »
Not that anybody cares BUT,

I for one am against this music DAC because of:

1)ONLY 10% for PTS and AGS and

•5% to our development team;
•5% to the founders;
•25% to the PeerTracks corporation;

whoever the 'founders' and 'PeerTracks corporation' are

2) Repeated  Ethereum stupidity - total supply of shares to be arrived based on money received and chosen arbitrary ratio (i.e. 2000 Notes per BTC)


1) Is insultingly low for PTS and AGS
I will not repeat myself regarding, what I think of, people having IPO and saying we will keep 25% - in short -"We get all the money + 25% free shares" ridiculous...

2) Is pretty stupid idea in itself.
I partially second that.
10 % is a little disappointing. Something between 10 and 25% would show some love.

Have to say thought that I love the business model and the team is great too. Eddie is funny. https://www.youtube.com/watch?v=16MhYDfgr3E
« Last Edit: September 08, 2014, 09:41:57 pm by delulo »

Offline tonyk

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Re: Any latest information?
« Reply #97 on: September 08, 2014, 09:42:14 pm »
Not that anybody cares BUT,

I for one am against this music DAC because of:

1)ONLY 10% for PTS and AGS and

•5% to our development team;
•5% to the founders;
•25% to the PeerTracks corporation;

whoever the 'founders' and 'PeerTracks corporation' are

2) Repeated  Ethereum stupidity - total supply of shares to be arrived based on money received and chosen arbitrary ratio (i.e. 2000 Notes per BTC)


1) Is insultingly low for PTS and AGS
I will not repeat myself regarding, what I think of, people having IPO and saying we will keep 25% - in short -"We get all the money + 25% free shares" ridiculous...

2) Is pretty stupid idea in itself.

The allocation for AGS/PTS is fair and honours the social contract.

The social contract is what all AGS/PTS investments were premised on and consequently there should be no expectation of additional allocations.

As [mostly passive] investors we need to acknowledge that it is better to have a small piece of a big pie than a big piece of a small pie.

The social contact is designed to incentivize the creation of big pies, on the order of revolutionizing entire industries, and the profit motive cannot be diluted to a degree that is not attractive.

TL;DR: People gonna get rich, and you want a seat on the train. Not a whole car to yourself...


'Blessed are the poor in spirit: for theirs is the kingdom of Heaven.

Blessed are the meek: for they will inherit the earth.'



...or better:

'It makes me happy to see that men do not want to think at all.'
Friedrich Nietzsche

« Last Edit: September 08, 2014, 09:51:36 pm by tonyk »
Lack of arbitrage is the problem, isn't it. And this 'should' solves it.

Offline cob

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Re: Any latest information?
« Reply #98 on: September 08, 2014, 09:53:48 pm »
+ how is that legally for an artist to issue shares in his success? As far as I understood, the artistcoinholders will get a share in the artist profits and not just some product like with kickstarter....

Yes that part is still the secret sauce.

The artist is not really sharing his profits. No dividends are actually paid out. It's the value of the artistcoin that can go up with sales of songs / albums.  There is a mechanism in place that I'll explain on a later date.

Artistcoins will be like baseball cards.
Supply and demand dictate how much they are worth.
If everyone wants them, they are worth more.
if 99% of them get burned in a warehouse fire, they will also be a rare collectible with a higher price.

Don't worry I'll get to the details soon enough
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 oldman

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Re: Any latest information?
« Reply #99 on: September 08, 2014, 10:00:49 pm »
Not that anybody cares BUT,

I for one am against this music DAC because of:

1)ONLY 10% for PTS and AGS and

•5% to our development team;
•5% to the founders;
•25% to the PeerTracks corporation;

whoever the 'founders' and 'PeerTracks corporation' are

2) Repeated  Ethereum stupidity - total supply of shares to be arrived based on money received and chosen arbitrary ratio (i.e. 2000 Notes per BTC)


1) Is insultingly low for PTS and AGS
I will not repeat myself regarding, what I think of, people having IPO and saying we will keep 25% - in short -"We get all the money + 25% free shares" ridiculous...

2) Is pretty stupid idea in itself.

The allocation for AGS/PTS is fair and honours the social contract.

The social contract is what all AGS/PTS investments were premised on and consequently there should be no expectation of additional allocations.

As [mostly passive] investors we need to acknowledge that it is better to have a small piece of a big pie than a big piece of a small pie.

The social contact is designed to incentivize the creation of big pies, on the order of revolutionizing entire industries, and the profit motive cannot be diluted to a degree that is not attractive.

TL;DR: People gonna get rich, and you want a seat on the train. Not a whole car to yourself...


'Blessed are the poor in spirit: for theirs is the kingdom of Heaven.

Blessed are the meek: for they will inherit the earth.'



...or better:

'It makes me happy to see that men do not want to think at all.'
Friedrich Nietzsche

It really comes down to long term greed vs. short term greed.

Long term greed always offers better ROI.

Think long term!

Offline xeroc

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Re: Any latest information?
« Reply #100 on: September 09, 2014, 06:39:06 am »
The allocation for AGS/PTS is fair and honours the social contract.
The social contract is what all AGS/PTS investments were premised on and consequently there should be no expectation of additional allocations.
To make some points crystal clear:

 - AGS never was and never will be an INVESTMENT. Everything you've sent there is a DONATION!!!
 - there have been NO promises made in regards to allocations, how can they (i3) .. it's out of their hands how 3rd party developers decided the initial distribution. PTS/AGS distribution is about showing love to the community and 'buying' support from them .. and wit 10% each cob FULFILLS his side of the social consensus. As a consequence, I (and probably the bigger part of the community) will support cob. period!
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Offline bitrose

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Re: Any latest information?
« Reply #101 on: September 09, 2014, 06:42:19 am »
enjoy love
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Offline xeroc

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Re: Any latest information?
« Reply #102 on: September 09, 2014, 07:14:58 am »
tonyk is a little skeptic about the pre-sale:
https://bitsharestalk.org/index.php?topic=4788.msg111639#msg111639
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Offline tonyk

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Re: Any latest information?
« Reply #103 on: September 09, 2014, 07:29:54 am »
tonyk is a little skeptic about the pre-sale:
https://bitsharestalk.org/index.php?topic=4788.msg111639#msg111639

If you have to put it mildly...


PS
Hey, but I do not discourage it as a pure  money grabbing scheme! You can never overestimate the stupidity of people.
They (people) will always beat your wildest 'dreams'...
Lack of arbitrage is the problem, isn't it. And this 'should' solves it.

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Re: Any latest information?
« Reply #104 on: September 10, 2014, 09:09:21 am »
The allocation for AGS/PTS is fair and honours the social contract.
The social contract is what all AGS/PTS investments were premised on and consequently there should be no expectation of additional allocations.
To make some points crystal clear:

 - AGS never was and never will be an INVESTMENT. Everything you've sent there is a DONATION!!!
 - there have been NO promises made in regards to allocations, how can they (i3) .. it's out of their hands how 3rd party developers decided the initial distribution. PTS/AGS distribution is about showing love to the community and 'buying' support from them .. and wit 10% each cob FULFILLS his side of the social consensus. As a consequence, I (and probably the bigger part of the community) will support cob. period!

You can always play on words as you like, but after the Feb 28 snapshot Stan and co made it quite clear that AGS  (and PTS too) was useful as it gave nice, big stake in the core DACs. It was also implied that while we get only 10/10 from the other 3rd party DACs, the core DACs will give us a big percentage; even upto 50/50. Then the initial announcement with Zenithcoin promised us 25/25.

So you can keep saying 'DONATION', 'NO promises' but we all know what was said. If you are changing it now then fine, but don't insult us by saying all that.