Quote from: supranetico on December 02, 2014, 09:23:16 AM

Quote from: brekyrself on November 30, 2014, 04:22:14 AM

High level BTS history:
Protoshares was launched as a minable investment vehicle, along side AGS which users could donate PTS or BTC directly without mining. 50% PTS and 50% AGS is what made up the genesis block of BTS, this was quite fair. Original plan was to have individual dac's such as BTS, Vote, Play, Music, etc... however this would divide the attention of the dev's too greatly. Thus with PTS and AGS no longer viable, why not unite all the products under one umbrella? Great win for investors, great win for the dev's who can concentrate on one super DAC with all the features of the individual dacs. BTC and LTC were born competitors, BTS simply originated from PTS and AGS.

Um, no. High level history of BTS:
Protoshares was launched as a minable investment vehicle, ----devs underestimated the pump/demand and weren't able to mine enough to sustain themselves. so they introduced AGS to raise more money when the mine to fund failed. along side AGS which users could donate PTS or BTC directly without mining. 50% PTS and 50% AGS is what made up the genesis block of BTS, this was quite fair. -- Distribution is not fair as 1 PTS ~ 1BTS was the original plan. Now AGS was raising funding in PTS too. So each PTS you donated meant 1 AGS to you. And (assuming parity for sake of simple explanation) 1AGS = 1BTS for you but....the PTS raised within the AGS framework also got their allocation. So it meant, 1 PTS donated = 1AGS=1BTS For you + 1 BTS for 3I because of the ownership. Yes they promised they wont use BTS earned from the raised PTS for any use but in crypto, promises mean shit. They should have burned it and reduced the total coin but they dint. Original plan was to have individual dac's such as BTS, Vote, Play, Music, etc... however this would divide the attention of the dev's too greatly. Thus with PTS and AGS no longer viable, why not unite all the products under one umbrella? Great win for investors, great win for the dev's who can concentrate on one super DAC with all the features of the individual dacs. BTC and LTC were born competitors, BTS simply originated from PTS and AGS.

There was no clear consensus on the "super DAC" and people had rejected the PTS rollup to BTS too. Those concerns have been ignored. So nope, not a great win for investors. Just my 2 cents to it.

supranetico:
You are correct about the +1 BTS for the dev's however there has been quite clear accounting of all the donations.

PTS transaction log
https://docs.google.com/a/invictus-innovations.com/spreadsheet/ccc?key=0AqTwk-e7yzJydFZ3bVVWT0o1OUwzXzdESHFBY0FkUWc&usp=sharing#gid=0

BTC transaction log
https://docs.google.com/spreadsheet/ccc?key=0AqTwk-e7yzJydDFnQmlkTVlkbWpubnJBbzR2UG5ucnc&usp=sharing#gid=0

Operations log
https://docs.google.com/spreadsheet/ccc?key=0AtRmp4NraeAydElLdUpwSERlY3luVkZNZnoxRm5md3c&usp=sharing#gid=0

Original AGS announcement:
https://bitsharestalk.org/index.php?topic=1863.msg21379#msg21379

More so, anyone that invested has made money and with the additional focus of the super dac updates should be completed much quicker thus bringing in functionality and users ($$$). New features are coming in a quite a pace recently.
https://bitsharestalk.org/index.php?topic=11921.0 User issued assets with legal compliance
https://bitsharestalk.org/index.php?topic=11697.0 escrow in next version
https://bitsharestalk.org/index.php?topic=11524.0 Multisig and offline transaction building
https://bitsharestalk.org/index.php?topic=11597.0 <-- This could be a nice helping hand!

TinEye:
It is sad to see the PTS name being used however this is a 3rd party dac, no direct relation to the main dev's of Bitshares. Since all PTS donations were returned to their original owners, the bts dev's will not make anything on this deal besides what they held from mining themselves. This could very well hurt bts if the launch and product is botched.