Author Topic: Bitshares Music Presale begins in 2 hours  (Read 3441 times)

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Offline bitmeat

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Re: Bitshares Music Presale begins in 2 hours
« Reply #15 on: October 06, 2014, 03:41:42 am »
Yup anyone could release a StealAGSCoin DAC. :)

Offline Cryptofreakoutlaw31

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Re: Bitshares Music Presale begins in 2 hours
« Reply #16 on: October 06, 2014, 04:02:39 am »
I think it's better if @cob adds a warning message, say "Do not sent BTC from exchanges or web wallet which does not support private key export (e.g. Coinbase)" This will reduce a lot of confuse and drudgery work.

I do have a Coinbase online wallet but I also have a blockchain.info online wallet as well as a personal software bitcoin wallet.  I did not use any BTC from my personal bitcoin wallet on my computer because I am using that wallet to save up BTC that I earn from the bitcoin faucets on the intetnet, however, I had some BTC from my Blockchain online wallet and I sent some BTC from that wallet to the NOTES presale BTC address from my Blockchain.info online bitcoin wallet.  It was not much.  Only 10,000 satoshi. 

Offline BTSdac

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Re: Bitshares Music Presale begins in 2 hours
« Reply #17 on: October 06, 2014, 04:59:52 am »
The people that sent btc before the official start will be counted in the first pool. No need to panic (:
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Offline fluxer555

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Re: Bitshares Music Presale begins in 2 hours
« Reply #18 on: October 06, 2014, 05:12:19 am »
If my calculations are correct, this pre-sale should tank the price of PTS... just sold everything.

1 PTS = 255.993374 Notes
Current price of PTS: 0.01176360 BTC
Current price of BTC: $300
$1 worth of PTS = 71.307346 Notes

Therefore, each day between now and the snapshot, there needs to be over $70k in BTC donations to justify holding PTS rather than selling it for BTC and purchasing via presale.

5,000,000 Notes / $70,126.2272 = 71.3

Someone tell me I'm wrong?
« Last Edit: October 06, 2014, 05:16:10 am by fluxer555 »

Offline bitmarket

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Re: Bitshares Music Presale begins in 2 hours
« Reply #19 on: October 06, 2014, 05:13:49 am »
Why not also take a snapshot of say bitcoin and give them 5% of the notes - it'd be like buying your customers by enticing them with a small amount of coins.. enough to get them to learn how bitshares works.

I love the idea, but you would need to be careful, they dont just liquidate and crash the price.  Not sure how to protect against that.
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Offline Shentist

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Re: Bitshares Music Presale begins in 2 hours
« Reply #20 on: October 06, 2014, 05:14:13 am »
If my calculations are correct, this pre-sale should tank the price of PTS... just sold everything.

1 PTS = 255.993374 Notes
$1 worth of PTS = 71.307346 Notes

Therefore, each day between now and the snapshot, there needs to be over $70k in BTC donations to justify holding PTS rather than selling it for BTC and purchasing via presale.

5,000,000 Notes / $70,126.2272 = 71.3

Someone tell me I'm wrong?

no you are not, but the PTS snapshot will and in 4 days.

Offline fluxer555

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Re: Bitshares Music Presale begins in 2 hours
« Reply #21 on: October 06, 2014, 05:22:48 am »
no you are not, but the PTS snapshot will and in 4 days.

This was bad timing, very sloppy in my opinion. They should have waited until after the snapshot.

Offline 天籁

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Re: Bitshares Music Presale begins in 2 hours
« Reply #22 on: October 06, 2014, 05:30:24 am »
If my calculations are correct, this pre-sale should tank the price of PTS... just sold everything.

1 PTS = 255.993374 Notes
Current price of PTS: 0.01176360 BTC
Current price of BTC: $300
$1 worth of PTS = 71.307346 Notes

Therefore, each day between now and the snapshot, there needs to be over $70k in BTC donations to justify holding PTS rather than selling it for BTC and purchasing via presale.

5,000,000 Notes / $70,126.2272 = 71.3

Someone tell me I'm wrong?
Absolutely wrong!
$1 of PTS price drop after snapshot =  255.993374 Notes

Offline fluxer555

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Re: Bitshares Music Presale begins in 2 hours
« Reply #23 on: October 06, 2014, 05:40:41 am »
$1 of PTS price drop after snapshot =  255.993374 Notes

I've been trying to make sense of this, but am unable.

The total number of PTS I took from CoinMarketCap: 1,757,928. (It's already a little different than when I calculated before)

450,000,000 Notes are distributed to PTS holders.

450,000,000 / 1,757,928 = 255.98318 Notes per PTS

Offline 天籁

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Re: Bitshares Music Presale begins in 2 hours
« Reply #24 on: October 06, 2014, 05:47:56 am »
$1 of PTS price drop after snapshot =  255.993374 Notes

I've been trying to make sense of this, but am unable.

The total number of PTS I took from CoinMarketCap: 1,757,928. (It's already a little different than when I calculated before)

450,000,000 Notes are distributed to PTS holders.

450,000,000 / 1,757,928 = 255.98318 Notes per PTS
255.98318 Notes per PTS is not equal to that the value of 1PTS = 255.98318 Notes.
1PTS before snapshot = 1PTS after snapshot +  255.98318 Notes.

Offline clayop

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Re: Bitshares Music Presale begins in 2 hours
« Reply #25 on: October 06, 2014, 05:48:04 am »
$1 of PTS price drop after snapshot =  255.993374 Notes

I've been trying to make sense of this, but am unable.

The total number of PTS I took from CoinMarketCap: 1,757,928. (It's already a little different than when I calculated before)

450,000,000 Notes are distributed to PTS holders.

450,000,000 / 1,757,928 = 255.98318 Notes per PTS

But after snapshot, you can sell PTS and make profit. That's what you overlook.
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Offline fluxer555

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Re: Bitshares Music Presale begins in 2 hours
« Reply #26 on: October 06, 2014, 05:49:43 am »
Ok, I made an error... PTS holders get 525,000,000 Notes not 450,000,000. So the correct math is:

1 PTS = 298.647044 Notes
Current price of PTS: 0.01176360 BTC
Current price of BTC: $300
$1 worth of PTS = 83.1885916 Notes

Therefore, each day between now and the snapshot, there needs to be over $60k in BTC donations to justify holding PTS rather than selling it for BTC and purchasing via presale.

5,000,000 Notes / $60,104.3954 = 83.1885916

Offline fluxer555

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Re: Bitshares Music Presale begins in 2 hours
« Reply #27 on: October 06, 2014, 05:51:50 am »
So then the question is, do you make more profit selling now than after the plunge, with ample opportunity to get the same Notes for much much cheaper? I think so. I could be wrong, but I guess we'll find out.

If there are more people thinking like me, I expect the price to plunge pre-snapshot, and then AGAIN post-snapshot... I think it's probable that 1 PTS now  > 1 PTS + 298.647044 Notes after the snapshot.
« Last Edit: October 06, 2014, 05:55:43 am by fluxer555 »

Offline clayop

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Re: Bitshares Music Presale begins in 2 hours
« Reply #28 on: October 06, 2014, 07:01:53 am »
So then the question is, do you make more profit selling now than after the plunge, with ample opportunity to get the same Notes for much much cheaper? I think so. I could be wrong, but I guess we'll find out.

If there are more people thinking like me, I expect the price to plunge pre-snapshot, and then AGAIN post-snapshot... I think it's probable that 1 PTS now  > 1 PTS + 298.647044 Notes after the snapshot.

Imagine that.
1. A PTS owner got a snapshot at 10/10.
2. PTS price drops about $1 after snapshot.
3. Then the owner sell PTS at $2.5
4. He buys Notes with the fund.

Your logic is like, after snapshot, PTS price will go down to zero.
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Offline liondani

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Re: Bitshares Music Presale begins in 2 hours
« Reply #29 on: October 06, 2014, 07:18:27 am »
Yup anyone could release a StealAGSCoin DAC. :)

I am afraid too for this possibility !
I hope they release a "tool" that resolves threats like that before we are witnessing StealAGSCoin victims....