BitShares DNS (Namecoin killer) PTS Snapshot 21st Aug - Watch video!

[FandangledGizmo]

It's a NameCoin Killer which is why you see Namecoin tanking imo

http://m.youtube.com/watch?feature=youtu.be&v=qeweF05tT50

The allocation is

20% AGS
20% to BitShares-PTS
10% Developers

& the remaining 50% gets released over few years  by the DAC according to shareholder votes.
(So really PTS gets 40% of the initial equity which is pretty good)

https://bitsharestalk.org/index.php?topic=6753.0;all

Announcing the Decentralized Namespace Service - get your share by holding PTS before the end of August 21st

Featuring:

.p2p  - .bit killer and DNS cash cow
KeyID - replacing usernames everywhere

Enabling services like

Browsing .p2p websites - no spying, no seizures!
"SignIn with KeyID" - think google/facebook signin only MORE SECURE. OUTRAGEOUSLY SECURE if the website is a .p2p site.
"KeyMail"  -  more on this later... will be a critical piece of infrastructure for BTS ecosystem as a whole


Features ready NOW (test net incoming):
* .p2p Punishing Throttled Auction (with hard-coded throttle) for initial distribution  -  more on this later
* .p2p Sell/Buy embedded market
* .p2p TITAN transfers
* KeyID "points" with upburn/downburn  - how much money will people spend adjusting a meaningless number associated with their account? Probably a bunch!
* Everything in the toolkit except Markets - *maybe* we will add BitUSD far in the future

Features ready at launch at end of august (hopefully, it's just a goal):
* Punishing auction throttle size set by delegates, with fallback to fixed rate
* .p2p "offers" - put up bids before a domain is for sale or before it even exists. Not everyone wants to risk the Punishing Auction.
* SignIn with KeyID  -  we can already do this with ID-to-ID but we want to be able to do ID-to-.p2p because then you can check the site you are logging in to is who you think it is

Features ready after launch:
* DNS servers / browser plugins / "invisible" clients  -  seamless browsing experience
* DNS delegates that act as smart oracles for other decentralized application platforms - ethereum, ripple, etc... KeyID usernames *all over crypto land

Watch out for:
* PAID positions for content creation and development (web, core client, and DNS infrastructure)
* Instructions for migrating Keyhotee and BTSX names

[1715322992]

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[1715322992]

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[puppies]

This is damned exciting.  This dac is one of the first things that attracted me to bitshares. 

[testz]

Vote DAC also has snapshot at 21st Aug:
https://bitsharestalk.org/index.php?topic=6508

8/21 DUAL SNAPSHOT
https://bitsharestalk.org/index.php?topic=6510

[profitofthegods]

Will Bter distribute these to holders of PTS on their exchange like they did with BTSX?

[Gentso1]

Also very excited about this. On top up that is a duel snapshot so it is almost like a two for one deal for investors. I really hope I3 will carry over ownership of the popular .com domains to the new system to promote its growth and avoid squatting all over again. I think that by doing so it will help jump start usage.

[CLains]

Looking forward to this. 

[Tradingriver]

Will Bter distribute these to holders of PTS on their exchange like they did with BTSX?

BTC38 will honor the snapshots
https://bitsharestalk.org/index.php?topic=6724.0

BTER will also honor the snapshots
https://bter.com/article/2278

[testz]

Will Bter distribute these to holders of PTS on their exchange like they did with BTSX?

BTC38 will honor the snapshots
https://bitsharestalk.org/index.php?topic=6724.0

BTER will also honor the snapshots
https://bter.com/article/2278

Cryptsy, as usual, not honor anything. 

[jshow5555]

To the moderator: Sorry, please move this to the altcoin announcement section if this is the wrong area.

I've just seen this announced on the BitShares forums..

The Decentralized Namespace Service   https://bitsharestalk.org/index.php?topic=6509


Domain names and identities. The secure alternative to todays domain name system that eliminates domain name squatting while providing security against government seizures, man-in-the-middle attacks.

Announcing the Decentralized Namespace Service - get your share by holding PTS before the end of August 21st

Featuring:

.p2p  - .bit killer and DNS cash cow
KeyID - replacing usernames everywhere

Enabling services like

Browsing .p2p websites - no spying, no seizures!
"SignIn with KeyID" - think google/facebook signin only MORE SECURE. OUTRAGEOUSLY SECURE if the website is a .p2p site.
"KeyMail"  -  more on this later... will be a critical piece of infrastructure for BTS ecosystem as a whole


Features ready NOW (test net incoming):
* .p2p Punishing Throttled Auction (with hard-coded throttle) for initial distribution  -  more on this later
* .p2p Sell/Buy embedded market
* .p2p TITAN transfers
* KeyID "points" with upburn/downburn  - how much money will people spend adjusting a meaningless number associated with their account? Probably a bunch!
* Everything in the toolkit except Markets - *maybe* we will add BitUSD far in the future

Features ready at launch at end of august (hopefully, it's just a goal):
* Punishing auction throttle size set by delegates, with fallback to fixed rate
* .p2p "offers" - put up bids before a domain is for sale or before it even exists. Not everyone wants to risk the Punishing Auction.
* SignIn with KeyID  -  we can already do this with ID-to-ID but we want to be able to do ID-to-.p2p because then you can check the site you are logging in to is who you think it is

Features ready after launch:
* DNS servers / browser plugins / "invisible" clients  -  seamless browsing experience
* DNS delegates that act as smart oracles for other decentralized application platforms - ethereum, ripple, etc... KeyID usernames *all over crypto land*.

Allocation:

1bn to AGS
1bn to PTS
1bn MYSTERY sharedrops onto other crypto. Targets might include BTC, NMC, NXT, ETH (snapshot using presale), PPC. They will likely be scaled so that they all give the same price per DNS and all have the same price *disadvantage* compared to PTS - this is why I feel OK not disclosing the exact allocation yet.. UP TO 100m of the sharedrop *might* be reserved for backpay and bounties but I fear the consequences of perceived unfairness and so I'll probably try to avoid this.

7bn delegate subsidy, about 45% of the pool paid out per year.

Delegate subsidy equation (assuming 10 second blocks):
     block_pay = delegate_subsidy_remaining / 5000000
So the *maximum* number of new tokens created after T years is given by:
     7000000000 - (7000000000 * (1 - 1/5000000)^((3153600)*T))
(there are 3153600 blocks per year)


Watch out for:
* PAID positions for content creation and development (web, core client, and DNS infrastructure)
* Instructions for migrating Keyhotee and BTSX names

(There is also another BitShare-PTS snapshot on the same date (The VOTE DAC) https://bitcointalk.org/index.php?topic=721082.0)

The announcement is outdated I believe. Please fix it FandangledGizmo.

[Tradingriver]

you are right!

was changed after mostly the chinese community were against the allocation

find : https://bitsharestalk.org/index.php?topic=6753.0

the allocation in the start is 5bn

1.5 AGS
1.5 PTS
1.0 Dev

5 bn are paid to the delegates

in total there are 10 bn in the end.

if you are interested till august 21 you can buy PTS.

[sandpaper]

Loving that even exchanges are taking part in this. They know it is a big deal to their customers so they don't mind doing it.

[FandangledGizmo]

Yeah this has got a lot of cool stuff going for it.

Check out the video, not sure if it's the final version but

http://m.youtube.com/watch?feature=youtu.be&v=qeweF05tT50

[xeroc]

Loving that even exchanges are taking part in this. They know it is a big deal to their customers so they don't mind doing it.

And they are not some crappy smal exchange with .5 BTC in total daily volume .. these two are huge ..
and i bet the next exchange to come will be poloniex (wild guess)

[Xeldal]

Videos and the site are really coming along.  Good stuff! +5%

Bter ran off with my MMC from PTS but that was a long time ago.  I think they said they were looking into it but I never heard back from them.
Since then they have really shown good service/initiative to support snapshots, Im not worried. 

[CLains]

Five days left until snapshot!

Holding BitShares PTS in your wallet or at Bter/BTC38 is the best way to aquire BitShares DNS ahead of time!

More info in this thread.

[Fernandez]

On the forums I saw there was a lot of confusing chatter on latter versions. Will all of them follow from this, or they will have separate snapshots?

I think you should make it a bit clearer what are the future plans here.

[Tradingriver]

On the forums I saw there was a lot of confusing chatter on latter versions. Will all of them follow from this, or they will have separate snapshots?

I think you should make it a bit clearer what are the future plans here.

for me the picture looks easy to read

ok, after the snapshot 8/21 for DNS and VOTE there will be more. But the teams who are working on new BitShares DACs didn't announced a Snapshot time yet. After DNS and Vote i only know from BitShares Play and BitShares Music. In the future there will be hopefully more. so, if you want a stake in the BitShares ecosystem to buy PTS is not a bad move.

[penelopehead]

Would love to see this take off and replace the existing system of name registrations and controls. All of these decentralized initiatives hold so much potential. Hopefully, in time, the incumbents will be overthrown!

[profitofthegods]

How long after the snapshot before the actual launch of this?

[testz]

How long after the snapshot before the actual launch of this?

I think few weeks.