Little Help With Understanding The Peerplays Sharedrop
I'm trying to figure out how the Peerplays sharedrop will work .
According to CoinCaps the BTS market cap is $13,991,000 or $0.00541682 per share with 2,572,070,000 shares outstanding. So, the sharedrop will be 50,000 / 2,572,070,000 = 0.000019440124 Peerplays per BTS . Assuming someone has 1,000 Peerplays tokens currently valued at $17,500 USD (30.9 BTC) (3,234,750 BTS). That 3,234,750 BTS stored in OpenLedger wallet at snapshot should gain 62.883548 Peerplays tokens, right?
Also, let's say someone transferred 100 BTC into their OpenLedger wallet (not suggesting anyone should or should not do this). Now that wallet reports an additional 10,481,481 BTS. Would the account get 203.76 additional Peerplays token at the snapshot | OR | would they need to convert the BTC into BTS first in order to benefit?
If someone did park 100 BTC on an OpenLedger wallet for the 16+ days, how secure would the BTC be? What are the security risks in doing something like that?
I would assume that if someone could do this with BTC, they could do it with any altcoins allowed in these wallets?
Thanks in advance for the replies...if any ;)
Additional data points:
(8/26/2016 shallow market 24hr vol is ~145 Peerplays trading @ ~ $17.50)
(8/26/2016 BTC price @ ~ $566)
(8/26/2016 BTS price @ ~ $0.00541682)
About 5% extra bts if you sell them current peerplays price 2615 BTS: PEERPLAYS. But if you have 100 bitcoins, bithares own exhange has too low volume so I suggest you buy BTS from Poloniex and transfer to Openledger or Freedomledger.
calculation: 0.000019440124 * 2615 = 0.05083592426
What would 100,000 bts give you on the Peerplay event?
Ok, so I think I got it after doing some more research. The Peerplays sharedrop is really for all the Bitshares holders as a reward for staying faithful to the cause and (+) as an incentive to help increase trading on FreedomLedger / OpenLedger exchanges.
I did find this article that calculates the BTS that might miss out for some reason: [they don't transfer or don't qualify } as approximately 1,625,740,922 BTS. So, after taking in the new data and calculating 100,000 BTS sitting in the correct wallet/exchange at snapshot should gain:
BTS Outstanding: 2,572,250,000
BTS Missing Out: 1,625,740,922 (reference article above)
BTS Benefiting: 946,509,078
So take the 50,000 / 946,509,078 = 0.000052826 Peerplays tokens BTS and 100,000 BTS gains 5.282569514 Peerplays tokens. I believe?!?
wow.. ok is see what you did there. I guess this would change depending on how many more people buy BTS before the snapshot. This is all very interesting to me and I think the best way to learn all this is being a part of it. Thanks for the reply. I will holding my Bitshares even after the drop on the 16th. I want to see how the drop will effect the price of Bitshares after. I may be buying again after the impending drop in share price after the 16th.
After the 16th a bunch of people will buy bitshares with peerplays.... No drop in price.