PeerPlays will NEVER share-drop on BTS - because PARADOX!

in #bitshares5 years ago (edited)

Have you heard of Peerplays?

It's a very cool project that has immense potential to revolutionize tournament management and any online games. Of course, a lot of blockchain based sites promise to "revolutionize" this or that but I trust that the team behind thi project - some are on steemit ;) - is capable of bringing it about. That's basically the most important part for a start-up, ideas are cheap(even awesome ideas!) but actually making ideas come true is where the real value lays.

So WHAT exactly IS Peerplays?

From their website

Peerplays is the World's First Decentralized Tournament Management and Wagering Platform Built Entirely on the Blockchain

I highly suggest you watch their intro video for more specific details(also, it's a fun video ):

Or, a simplified image of how will it work here:

I was obviously excited to hear that they will do a snapshot . What's this and how would it work?
@peerplays (see, i told you they're on steemit!) explains in its latest post:
" Snapshots are a way of distributing ownership of tokens in a blockchain, and share-dropping is the vehicle through which shares in the new chain are proportionally issued. "
Essentially, if you have BTS share in open.ledger than you'll receive some PeerPlays tokens.
That's cool, right?

But here's what caught my attention:

The KEY words are " take place on a random block ". That is a SURPRISE block.

Let's try to guess when this surprise will be. I will continue with the presumption that the exact block doesn't matter, only the day. So it must be a day between 1st September and 16th of September, as stated in the post.

Well, it's obvious it can't be 16th of September because then it would be no surprise, right?
Why "surprise" part of the drop is essential is also explained in the post: to prevent unnecessary market volatility in BTS, a.k.a people buying in mass to receive PeerPlays token and driving the price up artificially.

So, if they didn't drop the shares by 15th September people will flock to buy BTS on 15th expecting the drop tomorrow. We can't have that so 16th is out.

But can it be 15th?I don't think so either because if by 14th it didn't drop, then it's clear it's gonna be 15th of September - we already proved 16th is not possible if they want to keep it a surprise.

Can it be 14th?! No way, following the above logic we'll know and no longer a surprise.

Taking this logical argument to its natural conclusion we will reach the baffling conclusion:
They can't drop it at anytime!

but we know that they will drop it sometimes between 1st and 16th!

That's what we call a PARADOX!

Of course, they will drop the shares and of course, there's a logical error somewhere but where? Have I tricked you?


IF you want to be included in the sharedrop, open an account on https://bitshares.org/ and buy some BTS and hold them until the drop. Or, if you'd like, you can buy some tokens directly from their exchange as well. According to this they are are 13.88$ right now.

Thank you for reading!

PS: I am in no way affiliated with Peerplays

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The snapshot will take take place during that time frame. The actual share-drop will take place after that time window. Two different things.

That was smart one.

Yes this could have been an interesting game theory 'Prisoner Dilemma' except for the fact we will not know the snapshot date until after the 15th when the sharedrop takes place meaning there is an incentive to hold onto BTS for the entire Sept 1st to 15th

thanks for the clarification, i did not know that. that being said, this post was actually a bit on the fun side :)

Very good! I'm glad I looked forward to your post :)

Yes, it is a paradox - and yet another demonstration of how our brains aren't that good at handling randomness.

I don't get your point . They do the snapshot betwenn 1st to 16th of september. But that does not mean they sharedrop the PeerPlay tokens on that date or even say when the actual snapshot has taken place. Maybe they reveal the actual snapshot date on the 17th, so it would be still a surprise. ?!

No, i was wrong. My assumptions was [ being new i guess ] that they'll pick a block and sharedrop on that block exactly not that it will happen after the snapshot will take place. So, yeah. Also, this was a bit of a fun involved in this post, do not take it too serious :) It was also a PSA: peerplays and this snapshot are happening for people who maybe didn't hear about it.
thank you for reading anyway

Truely, I don't know what your talking about.

I'm guessing the 2nd because once the tokens are released to bitshare holders, won't the bts holders sell off the peerplay and keep their bts ? peerplay should drop and bts rise after the "share drop" if I'm understanding correctly.? @christoryan

Very gripping read, thank you!

the sharedrop was in bts, not tokens.