Quote from: Fernandez on May 09, 2014, 06:30:42 AM

Finally the real reason for all the sudden interest comes out. You and your group awarded all to yourselves and are now promoting it. I don't know whether you really believe what you wrote in that post is it part of the act.

I don't think you developers should work for free, but you should be honest. If you want to award even 50%, state that clearly and others will still support. Trying to keep it hidden, awarding yourselves all and claiming it was fair later on won't fool us here. We have seen enough to spot when it happens. I suppose I shouldn't be surprised as Bitshares are closely linked to the Ethereum group who even with all their advertising efforts couldn't fool the community with their IPO.

Good luck with your project. Its very interesting and anything which can emerge as an alternative to the cartel has my support. I will just wait for a Counterparty equivalent of your project.

Fernandez, I think you are wrong in your understanding of the fairness of distribution. I honestly think bytemaster/invictus have been ridiculously fair and beyond reproach.

The developers themselves took 0% of the IPO as profit. They first released an asic resistant POW coin as a means of doing an IPO with NO premine, it was announced well in advance and the developers competed along with everyone else to mine or buy coins. You can't really say the distribution is worse than a POW coin if the distribution was done using a POW coin.

Then, they realized that people were spending/burning tons of money on mining to get PTS which is kind of silly considering the project and everyone invested in it can benefit from funding.

So they started a 200 day IPO for AGS shares announced in advance. They have always said they support a "social consensus" that the initial distribution for "DACs" should favor a bare minimum of 10% for PTS holders and 10% for AGS holders but higher percentages are encouraged and would likely have more market acceptance.

Invictus takes none of the IPO funds from AGS donations as profit or personal gain. It is all used to growing the crypto-equity industry and is independently audited/accounted for (they have a spreadsheet showing every transaction on the blockchain and what it was for.) AGS is used to pay salaries that are way below market rate for developers such as bytemaster.

Bytemaster and the other core developers have personally had to compete with everyone else to buy AGS shares to invest in their own project!

They could have said 10% or more of Bitshares X goes to developers/insiders but they didn't; they gave it all to investors. Every investor was on equal footing. The only reason the Feb 28th snapshot happened so soon was because they had promised to give at least 2 weeks notice before doing a snapshot and they felt they were nearing completion of bitshares X so they didn't want to delay it.

Bitshares X is just the first profitable Decentralized Autonomous Company (DAC) that they are releasing. There is much more to come. One blockchain to rule them all does not work. AGS is a steal at the moment, PTS is cheap. You have plenty of time to get in. The pre snapshot price of Bitshares X was actually pretty high (look at PTS market cap @ end of Feb) so when it is released you quite likely will be able to buy in at a similar price.

I think you will find that clones/copies that try to cut out the people that made this happen will not be a good investment.
Let me know if you have questions.

Agent86

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