This solution is already implemented in BitShares, though called something different (TaPoS):
https://bitcointalk.org/index.php?topic=354573.0

Absolutely. The social consensus was never altered. Here is a quote from Stan just today:

To reiterate, the supply of PTS in the new chain has been scaled to 1 Billion tokens. The reduction in the price represents this scaling. To find the amount of your stake in the new chain, multiply your old stake by about 567x.

The BitsharesX snapshot has already transpired and already sharedropped 50% to PTS and 50% to AGS (the social consensus requires a minimum of 10% each). Also BTSX is now rebranded as just 'Bitshares' (BTS) and Invictus (the "company" that created the Bitshares software) is now disbanded. The original core developers are still working hard on BTS, but are now employed by the blockchain rather than a centralized corporate entity (this was done for obvious reasons). The new Bitshares uses an inflationary protocol that enables delegates to be paid for supporting the network in ways other that just block production. This new funding model enables the currency to incentivize rapid development and innovation. So, we are left with both BTS and PTS. These two tokens are not direct competitors, and are rather symbiotic for at least the following reasons:

* Both tokens promote DPoS as the most secure, innovative, and efficient consensus algorithm in the world.
* BTS was sharedropped 50% to PTS and thus represents a largely overlapping demographic.
* They use slightly different implementations of DPoS. BTS uses targeted inflation to raise funds for development/etc, while PTS is deflationary. In PTS, a delegate with a 100% pay rate receives 100% of the fees in the blocks that they produce. A 0% pay rate would simply burn those fees, thus reducing the supply and increasing the value of everyone else's shares.
* BTS is a true 'DAC' (distributed autonomous corporation), and is designed to rapidly evolve and to disrupt a variety of industries (DNS, Vote, Banking/Exchange, etc). BTS is the Ferrari of crypto-currencies and has cutting edge features found in no other coin.
* PTS is a stable 'currency-DAC' and sharedrop token. It is designed primarily to provide a stable unit of account with fair distribution, and to be a launching pad for feature-specific DACs (some of which may compete directly or indirectly with BTS). PTS is a reference implementation of DPoS and is the original and preferred sharedrop token. It cannot and will not compete with BTS on specific features or within specific industries. Rather, PTS is an investment in the protocol and the ecosystem of future BitShares DACs.

I think at this point most people realize that the crypto wars will not result in a single consolidated token used by every person and for every application. Rather, as Andreas puts it, there will likely be a few or a handful of tokens that take a majority of the marketshare. The rest will make up a long tail of tokens directed towards increasingly niche applications. If you believe this to be true, then it stands that both BTS and PTS can be enormously successful without competing directly for market share.

To answer this and your prior question about fees:

* minimum transfer fee is 5PTS (I did not know my default was set to this)
* recommended transfer fee is 25PTS
* account registration fee is 100PTS

*Edit: sent you some more funds, I think I may have sent only 50PTS the first time. D'oh!

I sent you some funds. Let me know if you received it and, if so, go ahead an register an account. Please also make sure you are using the latest client (version 2.0.1: https://github.com/PTS-DPOS/PTS/releases). Cheers.

For clarification: when you launch your client you will be asked to enter an account name. This account will remain 'unregistered' until you fund the account and click the option to register the account. If you want to send money to this 'unregistered' account, you need to do the following:

1) Click 'My Accounts' in the left menu bar
2) Click the name of an existing account on this page (or click "Create New Account" to create a new one)
3) On the next page, under your account name, you will see an 'Account Key' which is a long hash address starting with the letters 'PTS...'. This is your account's public key. You can fund your account by sending PTS to this account key.

Let me know if you have any other questions.

There are the instructions for BitShares: http://wiki.bitshares.org/index.php/Delegate/How-To

You will need to adapt this for PTS. You can ask any questions you have in out forum: www.ptstalk.org, or you can always wait until our wiki is updated.

The memo is optional and has nothing to do with your account. Bter allows withdrawal to either (1) a registered account name or (2) a public key of an unregistered account from your client. If you leave your public key here I can send you some PTS to get you started.

I will leave you with one message from myself, the core devs, delegates, and supporters: we're just getting started. I can say without hesitation that BitShares PTS is currently the most undervalue coin in existence. Think of the competitive advantages we have:

* PTS is the original sharedrop token. Why buy mining equipment or mint stake for a 1% return when you can buy into an entire ecosystem of new DACs just by holding PTS? As the interest in Bitcoin clones declines, developer interest in the BitShares Toolkit and the DPoS protocol are at an all-time high.
* PTS is a reference implementation of the BitShares Toolkit. Developers will choose to fork PTS and honor the social consensus because we will provide them with the knowledge, resources, and support to make their projects successful.
* Provably fair 100% proof of work distribution. No other DPoS coin has this.
* Deflationary DPoS protocol. Again, found only in PTS

I personally notified cryptsy of the upgrade on multiple occasions and with plenty of advanced notice. I will continue to pressure them to honor user's stake in the new chain, but unfortunately things do not look good. Cryptsy has never honored a sharedrop or listed a DPoS coin on their exchange (BTS being the most glaring absence). The good news is that they have suspended trading of the old chain, which will help to reduce scams and confusion among their own users. One of the reasons we scaled the supply to 1 Billion was to make it infeasible for people to sell their worthless "old PTS" after the snapshot (since they would now need to discount it by 567X which makes the tokens effectively worthless).

PTS shareholders: If I can help you in any way, please let me know. I am at your service. You are also invited to join us on our new forum: www.ptstalk.org

Bter is working hard to build the wallet and enable trading. Patience please!

So they are lying to us. They secretly hate this project but they are going out of their way to support it. TestZ, the custodian of PTS, is also lying about his support which he literally just posted immediately prior to your comment. Flawless logic!

The truth is that PTS has never been better positioned than it is today. As the interest in Bitcoin clones wanes, the Bitshares Toolkit is shaping up to be the choice implementation of the most innovative DACs. PTS is an investment in every future coin built on this technology. Why buy one coin when you can invest in the entire ecosystem?

Not a dumb question at all. You can get your public key for your unregistered account from the client, and use that to receive funds. If you paste it here or PM me I can send you some.

Amazing that you will continue to spread your lies everywhere you go. Dan, Stan, Testz, all of the major exchanges, coinmarketcap, and a long list of other core devs have supported the project. Bytemaster updated the original github repository just a couple of days ago with this message (https://github.com/BitShares/BitShares-PTS):


Here is another message from Stan:


But trolls will be trolls!!!

BitShares PTS has been upgraded from the slow and inefficient proof of work chain to Delegated Proof of Stake (see here). Poloniex trading is live, Bter upgrade is under development. Remember, BitShares PTS holders receive a perpetual dividend in the form of ownership in every future BitShares DAC.

Specifications/Features

* 10 second block confirmation (!)
* Supply is scaled to 1,000,000,000 (1 Billion) PTS
* Fair 100% proof of work distribution, no premine
* True anonymity using TITAN technology
* No ugly hash addresses (send and receive to usernames)
* Deflationary protocol (transaction fees burned according to delegate pay rate)

Even better than earning interest is the Bitshares social consensus: just for holding Bitshares PTS you get an at least 10% sharedrop in all future Bitshares DACs (decentralized autonomous companies). PTS just hard forked to use Delegated Proof of Stake (https://bitcointalk.org/index.php?topic=878059.0), which means that in addition to being the original sharedrop instrument, PTS is the first DPoS coin with 100% PoW distribution, no premine, and no inflation. Coinmarketcap will be updated shortly. Poloniex has resumed trading on the new chain and Bter will transition and resume trading soon.

10 second transaction times are a healthy improvement over 1 block per day . And it seems 3rd party devs are really warming up to DPoS, which makes this a great time to buy some PTS to receive a piece of every future Bitshares DAC:


Source: www.ptscrypto.com

25 PTS is the recommended fee, 5PTS is the minimum. The original fee was 0.1 PTS which is roughly equivalent to 57PTS in the new chain. As you can see the fee amount is significantly lower than before, but high enough to compensate delegates for their service. Let me know if you have any other questions. Cheers.

Yes, proportion is exactly the same, only scaled by a factor of about 567x. In other words, multiply your "old" PTS by 567 to get your stake in the new chain. Looks like the market cap has taken quite a jump, but time will tell.