BEOS Launches Today - Here's how to get yours!

in bitshares •  2 months ago  (edited)

The long days of waiting are finally over. The BEOS Limited Cooperative Association (BLCA) announced today that it is releasing the BEOS blockchain and activating the http://beos.world website where you can get everything you need to get your free BEOS tokens.

All 2.6 Billion of the publicly available BEOS tokens will be given away over a "rainfall" period of 89 days beginning a week from this posting on April 9th, 2019. All you have to do is move your bitshares onto the new BEOS chain and leave them sit there for up to 89 days to collect your corresponding share of the BEOS tokens proportional to the total number of BTS everybody deposits there. (If you have 1% of the total deposits, you'll get 1% of the total BEOS given away every hour of every day in the rainfall period.) RAM tokens to give access to memory resources will be given away over a much longer 80 week period.

WARNING DO NOT SEND ANY BTS TO BEOS THAT YOU WANT BACK BEFORE RAINFALL STARTS ON APRIL 9TH. YOU'LL NEED SOME OF THAT RAINFALL TO POWER THE RETURN PATH.

BitShares EOS (BEOS) is conceived as a middle chain sitting between BitShares and the EOS main chain. It will give smart contract capabilities to BitShares assets and make BitShares assets portable across the EOS domain. In its first release, however, it serves only as a way to get BEOS tokens delivered into the hands of participating BitShares supporters.

Here's what you need to do.

BEOS Rainfall - The Video

  1. Go to the special bitshares web wallet that can transfer BTS to BEOS: https://bitshareswallet.beos.world.

  2. Create a new BTS account there.

  3. Transfer some BTS to your new BTS account from wherever you've been keeping them.

  4. Go to the Legacy Deposit page, read thru the transfer agreement (will include info about BLCA membership requirement, see below), then buy a BEOS account (500 BTS cost) and transfer remaining BTS to BEOS. You can also transfer your BROWNIE.PTS the same way and they count the same as BTS for collecting rainfall.


  5. Download the BEOS wallet (there's a link to BEOS wallet on the deposit page). https://get.beos.world/wallets/

  6. Get private keys from your new BitShares account and put them in your BEOS wallet to gain control of your newly purchased BEOS account.

Membership Agreement

The following rules have been implemented to maximize BLCA regulatory compliance stance in the United States and therefore globally.

To qualify for the initial BEOS token distribution, a member must (a) join BEOS LCA (BLCA is a Utah Limited Cooperative Association, operating on a non-profit basis for the benefit of its members); (b) create an account on the BEOS network (the “BEOS Account”); and (c) fund that BEOS account with any amount of BTS via the BEOS network gateway in your BitShares wallet.

Any member may create one or more BEOS accounts for a one-time fee of 500 BTS each. The BEOS network gateway will read the public keys of the Bitshares account from which the account creation fee is paid and automatically assign the same keys to the Member’s newly created BEOS account. Thus, the member can use the same private keys to control both accounts. Thereafter, the member may change their keys at any time on either account.

When a member deposits BTS via the BEOS network gateway, the member’s BEOS account is credited with an equivalent amount of a BTS IOU token. BLCA will retain 2/7 of the 3,674,470,000 authorized BEOS tokens in order to support Association purposes. The remainder will be distributed to Members.

BEOS tokens will be distributed to account holders on an hourly basis over a period of 89 days and 64GB of RAM will be distributed over an 80-week period. Both periods begin on April 9, 2019 and extend for "7 weeks and 40 days" or "40 fortnights" respectively.

During the applicable distribution periods, BEOS and RAM tokens will be apportioned between member account holders based upon their proportionate holdings of BTS IOU tokens. For example, if there are only 2 BEOS accounts at the end of an hourly reward period, one holding 90 tokens and the other holding 10 tokens, the 90 token holder will receive 90% of the BEOS awarded for that reward period and the 10 token holder will receive the remaining 10%.

BEOS tokens are backed by BLCA Quint holdings, such that 1 million BEOS tokens equals 1 Quint. This sets a floor on BEOS value, and ties it to Specie Legal Tender, without limiting potential demand for the token due to its limited supply and its inherent utility.

IMPORTANT NOTE : Until a withdrawal is made, the “actual BTS” deposited to the BEOS network gateway will be held in an account called “beos.gateway” on the Bitshares network. This account is managed by the Board. By making deposits to this account, a Member explicitly grants the Board the right to vote the BTS so deposited in ways that support the health and growth of the BEOS network.

Members have the option of withdrawing their BTS IOU tokens via the BEOS network gateway at any time (*) back to their own control.

  • *The BLCA directors will do their best to keep the gateway operational at all times, but a malfunction either on the gateway or the new BEOS chain itself could result in BTS funds being locked up temporarily until the problem is resolved. If you lose the keys to your BEOS account, the trustees cannot refund BTS locked up as BTS IOU tokens in your BEOS account, because the trustees cannot reclaim the IOU tokens and have no way to determine if the account is permanently lost.

You MUST read the full BLCA member agreement located at http://www.beos.world/membership_agreement.html and click "I agree" before proceeding.

Limitations and Disclaimers

  • All of the past posts about BEOS should be considered as statements of vision, not promises of anything. Many of these visions have not yet been realized in the first release and some may never be.

  • Tokens distributed in the rainfall will not become transferrable until the rainfall ends in 89 days. This will limit the usefulness of the network for the rainfall period.

  • BLCA will be providing an initial set of block signing nodes during the rainfall period which will be publicly elected beginning one week after rainfall starts.

  • BLCA has not yet implemented jurisdictional agility features or placed nodes in international waters or international space.

  • To date, BLCA has only made BTS and BROWNIE.PTS portable between the BitShares network and the BEOS network. BEOS and RAM will become portable at the end of the rainfall period. More tokens, such as bitUSD or Quint, will be added in due course.

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This has been a very wild ride, and it has only just begun!

Watch the full video on how to participate here:

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You crazies are going to save the world

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We can only do it with support from people like you.

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Don't like this way of distributions, i am out!

Here is a walkthrough video of the website, the agreement, the wallet, and how to stake:

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Solved, I didn't realize I needed to use my eos-voter pass.
I could still use help getting access to my private owner key.

After successfully creating and sending I received this message attempting to import the wallet in the eos-voter:

"The password entered does not match that of the wallet currently selected.
Invalid Password"

Is this because I created a cloud wallet instead of a local wallet?

I also generated new keys in attempt to import the wallet and now I find can't pull up a private owner key.

Any help is appreciated.

  ·  2 months ago (edited)

Hope I did this right... after downloading the beos wallet, rather than adding an EOS api address, I chose the other option about allowing a blockchain to choose...and I selected BEOS...seemed like the most logical thing to do. But there was a question mark next to it... (I added a screenshot of my wallet, hope that looks right). When creating the wallet, it asked for a local password, I created a brand new password. I went back to my new bitshares account (created on that new clone of the bitshares exchange). I sent the BTS to my BEOS wallet. Now in that BEOS wallet I downloaded, it does show the BTS, labeled "BTS (eosio.token). Question: Should it be showing up as BTS eosio.token, anything else I have to do? Question 2: I read the PDF about the member agreement, I'm pretty sure that by simply paying the 500bts to create the beos wallet, I've automatically "Joined the BEOS LCA" right? just want to make sure i didn't miss that step of joining... Question 3, I hope clicking BEOS (once I downloaded the wallet was the right thing to do, does the top left of my screenshot look right? Oh and I cant seem to test transfer bts back from my beos wallet to my bitshares wallet on the bts exchange.... how is that done? Screen Shot 2019-04-03 at 8.04.59 AM.png

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I had this same question - you won't be able to transfer BTS out of the wallet (unstake) until the rainfall period begins on April 9th.

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Corrrect, since transactions from BEOS to BTS require you to have BEOS in your wallet.

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  ·  2 months ago (edited)

was trying to test sending BTS back (now that rainfall has started) and I get this error: "Invalid account name, must be 1-12 letters" I typed my bts account (the bts account on the bts exchange that has the legacy deposit for the beos gateway). Am I missing something by chance? ALSO, wonder if there might be a bug. On the "Balances" tab, "staked to self" says 310 BEOS yet on the "staked beos" tab, it says "Total 155 beos" and "Staked 155 beos". Makes it seem like I have 155 total beos and that all 155 are staked...Yet on my "balances" tab of my eos-voter BEOS wallet, it says my total is 310 BEOS. Wonder if that field mistakenly adds up the other two fields. Ignore my question if it's dumb. Just thought maybe I found a bug.

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new post totally solved first question. thanks!

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Raindrop starts at block:

1209600

~ 9:40 EST (13:40 GMT) 9-April-2019

check here at what block we are
https://explore.beos.world

It's fishy, and pricey. Not convinced.
I'll just keep my BTS

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More raindrops for me.

Posted using Partiko Android

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How is it pricey when it costs nothing? A BTS Lifetime account costs 3000 BTS, a one time registration of your chosen custom account name is only 500BTS for a BEOS account. EOS doesn't let you get a custom account name when you create an account, it is a gibberish name with 12 characters. EOS auctions custom short names for tens of thousands of dollars.

Seems like a BEOS account fee is a steal in comparison.

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BTS account is free.
EOS account cost 1$.
BEOS account = 500 BTS = 6$

For what?

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Lmao don't get in then. More for me.

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6$? 500 BTS is almost 35$ now.

This is such a horrible deal.

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er.. 500 BTS is $35?

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$35 dollars

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NEO is free. And simple.

Finally we have BEOS, congrats!

@stan,
Congratz for the launch! A new chain which will bring more demand to BTS! Absolutely a brilliant idea!

Cheers~

+5%

Posted using Partiko Android

FYI. The download tab (video 19 min) is found on the BEOS blockchain tab now.

so no airdrop for EOS holders?

I've been looking forward to this, as I have heard you speak about it on Connie's @bluerocktalk show. It's an exciting day for #BEOS and many other #crypto markets as we're in the middle of a rally.

Thanks for this info, and I'll read it a few times to make sure I understand all aspects of it. Looking forward to seeing this BEOS project take off!

Why bother promoting this on a chain that doesn't care about Bitshares or cross-chain tokens and censored its creator, your son???

You know who supports all these things.

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This makes EOS technology available to BitShares. BEOS cares.

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I'll read up on it. What does this imply for bitshares?

Posted using Partiko Android

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It will give BitShares smart contract capabilities and portability for its assets across the EOS universe.

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still a lot of fans out here, happy to hear about the launch

Posted using Partiko Android

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This really isn't about censorship, blockchain tribalism or anything. More people on here just want stuff that works and makes crypto easy to understand and use.

Posted using Partiko Android

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You guys keep pushing for mainstream adoption but you keep creating stuff for geeks only. Not only was this hard to understand, I find the 500 bts fee too expensive for someone who earns less than $35 a week. And yet we're to make this decision in less than 5 days.

All of the past posts about BEOS should be considered as statements of vision, not promises of anything. Many of these visions have not yet been realized in the first release and some may never be.

For $35, this post even went on state that all of this is just vision and might stay that way for a long time.

I hope this doesn't come off wrongly. I am sincerely trying to get a bit more clarification. Why is it so expensive? What are we trying to achieve with BEOS?

Thanks as you reply.

Posted using Partiko Android

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if you only earn $35 a week maybe you are not ready to start investing in crypto, but perhaps have more important things to think about ? I still maintain only invest what you are happy to loose. My advice would be only invest when you can comfortably loose the $35 and it not ruin your day if it goes to zero

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What are we trying to achieve with BEOS?

  • Making BitShares assets relevant and portable across the EOS universe.
  • Making BitShares assets usable in BEOS smart contracts.
  • Providing the ability to limit smart contracts to execute only in specified jurisdictions (space and international waters, for example)
  • Creating a platform that businesses and institutional investors can trust to remain stable under good governance (not subject to political whims).
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Thank you for the reply, Stan. I'll try to get in.

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Perhaps post a few steem posts to earn the 500BTS fee and then you can participate. Do not let anything get in your way of what you want if you truly desire it.

Congratulations!!!

For a little bit of exposure, this post has been resteemed!
More power!

Great project ! Jurdictional agility, last step before main adoption !

Just got a new BEOS account setup and the process was very smooth. The video was a great help. Great project!

So, to move our Bts to the Beos chain is a two step process. First to the new Bts wallet, then from there to the Greymass Beos wallet. It doesn't work to send straight from an existing Bts address. Is this correct?

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It's just trickier to send directly bypassing the BitShares wallet with the built in gateway. Not recommended.

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I won't try that then. Is the process the same when we want to send our bts back in the future? Just reversed?

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Pretty much simpler, you can send them straight back to your original BTS account.

odd. wallet not loading.

Just did it. Curious to see how it goes!

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I'm in for the rain-dance too :D

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Don't forget the umbrella!

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I'm hoping I will need one :D

My cryptobridge account name came up automatically when i went to bitshareswallet.beos.world and I could log in. Does this make sense?

If BEOS is successful as Bitshares, Steemit, and EOS has been, this will proved to be a good investment. Let's go BEOS.

Are my beos keys the same as the keys for the new account I just created?

Posted using Partiko Android

Hi @stan or @michaelx or anyone, can you please check my math on the value of the BEOS rainfall?

I have created my BEOS account for 500 BTS because I see the potential value of this project. So that cost about 500 x 0.073 = $36.50

5/7 of the 3,674,470,000 authorized BEOS tokens will be distributed to members like me, in proportion to how many BEOS we stake, which we can't do until Tuesday. So that means 2,624,621,428.55 BEOS tokes will be distributed to the group comprised of everyone who stakes their BEOS.

Each million BEOS is backed by a Quint. A Quint is worth 5 cents because it is backed by 5 cents worth of gold. https://quintric.com/quintric-monetary-tokens

So the 2,624,621,428.55 BEOS is backed by about 2624.62 Quint. That's worth about $131.23 - the floor value, as you say.

No one can say what BEOS tokens will trade for, if they are listed on an exchange in the future. Right now, every million of them is backed by 5 cents worth of gold so they have some value.

Anyone care to comment on this calculation? Thanks and best wishes to everyone on Team BEOS!

EDIT: One Quint is worth 1/1000 of an ounce of Gold, and Gold sells for about $1290 at the moment, so a Quint is worth about $1.29. And then 2624.62 Quints are worth about $3385.76.

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Quints are worth about 1.66 right now. They are priced at us mint value of their premium proof gold buffalo coin. The extra value over plain gold eagles is due to their electronic portability and includes forever storage and insurance. https://catalog.usmint.gov/american-buffalo-2018-one-ounce-gold-proof-coin-18EL.html?&cm_mmc=Google--Gold+Coins+-+Broad--Gold+-+Buffalo--%2Bgold%20%2Bbuffalo_g&gclid=Cj0KCQiA28nfBRCDARIsANc5BFBKCYwxc1UlXxoeck_8bVy4i_NkhcmDAl-wfK3HSSeHJ6yDgC1oBNwaAuTLEALw_wcB

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Thanks for the information, @stan!

I already have thousands of BEOS and the rainfall just started. I'm glad everything has gone smoothly and I look forward to the future development of the BEOS project!

Posted using Partiko Android

Hi @stan and @michaelx I went through the process and it was very smooth. Is it possible to also stake EOS in order to participate in the rainfall? I am asking because in the greymass wallet it shows three EOS, BTS, BROWNIE. If so, how can I stake EOS? I assume just sending to the newly created address on the BEOS chain.

This could be a stupid question, and I don't see anyone else asking it, but I created the beos wallet and went through the process as instructed above, and sent 505 bts to the greymass beos wallet. No problem. Encouraged by that accomplishment, and still in control of all the accounts involved I thought now would be a good time to make a more sizable commitment. And that's where I get stumped. I can't figure out a way to top up the newly created beos wallet. Is there a way to send bitshares to the greymass beos wallet without paying another 500 bts and creating another wallet?

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Nevermind, sorted it out on Telegram.

Thanks Stan and team! I've been waiting for this. Very excited about the rainfall. It's a creative way of rewarding HODLers like me, while exerting some needed guidence over the Bitshares network.

I did the steps but after about 24 hours, I haven't gotten any rains. When does it show up?

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Been raining for almost 24 hrs.

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https://bitshareswallet.beos.world/account/beosrishi556

I don't see it anywhere. Am I doing anything wrong?

Thanks for the detailed instructions, mate!

So now, I was referred by terradacs: is it your account, @stan?

A huge hug
from @amico!

Good opportunity and new idea. Thanks for this new information.

Step 2. Create BTS wallet is errors with “Failed to create account: (myaccount) - This faucet cannot create the account you are trying to obtain”

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ok apparently you get this error if the account name you use is too short