Announcement – BTS Snapshot Date

in #peerplays6 years ago (edited)


What is a Snapshot?

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. The token allocations for the Peerplays blockchain can be found here.

When the Peerplays chain is launched, the genesis block or “first record” contains shares that can only be unlocked using the private keys that correspond to each public key that was recorded in the snapshot. Since the rights to crypto-currency ownership are contained within the private keys, token holders must simply input their private key from the chain the sharedrop was based on into the new chain, and their new shares become unlocked.

Why BTS?

The state-of-the-art blockchain infrastructure behind Peerplays (called the Graphene toolkit) is the end result of 2 ½ years of research, hard work and dedication from a large number of individuals and teams, many of whom are holders and/or participants in the BitShares (BTS) project.

Peerplays has chosen to sharedrop 5% of its tokens onto BTS as a tribute for the work already achieved, and also as an incentive to promote future support from those who have participated in building this amazing open-source technology.

The Details:

Because a “hard date” could potentially cause unnecessary BTS market volatility, the snapshot will instead take place on a random block that falls between the date range of:

SEPTEMBER 1, 2016 (0:00 UTC) – SEPTEMBER 16, 2016 (0:00 UTC)

All BTS held in collateral for SmartCoins as well as BTS held in open market orders will be included and honored in the snapshot.

Please be advised: Peerplays will not sharedrop onto any publically known exchange or 3rd party escrow account addresses. To guarantee that you receive your entire sharedrop, you must hold BTS in your BitShares wallet ( ie. “Freedom Ledger” or “Open Ledger”) during the entire date range specified.

The security of the Peerplays blockchain is dependent on shareholder participation. In the past, certain exchanges have promised to distribute share-dropped tokens onto their users, only to rescind that promise at a later date. Furthermore, other exchanges have chosen to exercise the voting rights of their users’ tokens without obtaining express permission from their users to do so.

We believe that most cryptocurrency exchanges are reputable, honest and professional. However, since we cannot fully guarantee the trust of our users will not be violated by the methods outlined above, we have determined that the potential security risks in allowing any exchange to participate in the sharedrop process outweighs the convenience that might be afforded by supporting them.

Lucky for everyone, BitShares happens to contain its own fully functional on-chain exchange with gateway tokens available to trade in dozens of popular cryptocurrencies. We are hopeful that these existing features will offset any trading inconvenience experienced during the snapshot process.

If you have any questions about the snapshot, please visit the announcement thread on the bitshares forum, or email us at powerup @

TECHNICAL NOTES: To determine the exact block of the snapshot, the block id of the last block produced after 0:00 UTC September 16 will be divided by the number of blocks produced from 0:00 UTC September 1st through 0:00 UTC September 16th, and the remainder (mod) of that division will represent the block number (from this date range) that the snapshot will be taken.

#peerplays #bitshares #sharedrop #beyondbitcoin #blockchain

For more on Peerplays and latest news follow @peerplays


Maximum hype! :D

Sharedrop theory is alive and well in 2016! I'm looking forwards to holding sharedropped peerplays soon :)

Came for the comments, left sobbing. Seems par for the course.

Anyone have some tissues?

Correction: “Last block after 0:00 UTC Septmember 16” should say “Last block before 0:00 UTC September 16”

To determine the exact block of the snapshot, the block id of the last block produced after 0:00 UTC September 16 will be divided by the number of blocks produced from 0:00 UTC September 1st through 0:00 UTC September 16th, and the remainder (mod) of that division will represent the block number (from this date range) that the snapshot will be taken.

The wording is unclear.

Do you mean "the last block produced before 0:00 UTC Sep 16" or "The first block after 0:00 UTC Sep 16"?

What if there are several matching blocks produced (possible through forks)?

Also note that the witness signing that block has some influence on the ID and can therefore "mine" the block in such a way that a specific snapshot block is used.

Good question. We are compiling all together questions like this so we can give a full FAQ later. Stay tuned.

Looking forward to this. PEERPLAYS has already seen a 4x gain since the initial $2/share offering. Looking forward to some amazing things from these guys! For those of you who appreciate piston and the work done by @xeroc, this is the next tech to follow.

Yep, the concept is solid and the execution so far has been first rate! The devs have been around the Bitshares community for quite a while and are a great bunch of people. Everything is lining up for a moonshot...

Seems like more than a 6x gain so far. :)

It's not a gain in price it self, but giant potential of a PEERPLAYS will attract investors! Make a profit from hosting or taking part of any kind of online tournament! That sounds to me like an ocean of opportunities..

I briefly skimmed the whitepaper, but it doesn't really have much details on how RNG / shuffling works, which is the most interesting problem here. In base Graphene / Bitshares / Steem there is some RNG used to determine the witness ordering, but some daunting implementation issues [1] prevented us from building a bullet-proof cryptographically strong RNG. Which is a requirement for gambling. This wikipedia page has some information on the theoretical state of decentralized strong RNG.

If peerplays has solved these problems to the level that a production blockchain for online poker -- or even online High Card [2] -- is possible, it's an impressive technical achievement.

[1] Mostly the "last participant being evil" problem -- if the last person to go doesn't like the RNG result, he suddenly develops mysterious network issues and drops out, meaning the protocol has to either hang until he comes back (which may never happen) or somehow recover without him (which effectively causes a re-roll because the private information of the guy who left was necessary to determine what the outcome was).

[2] A simple example game discussed in the whitepaper, where two players are each randomly assigned distinct integers 0-51, and whoever has the higher integer wins.

Oh man, I'm so glad I bought peerplays tokens during the 2nd batch of sales. got 20 for 40$ which are now worth ~240$.

Should buy some more now that I've made some $D! :)

where i can buy?


Wonderful, I appreciate that!!!

5% 5% 5%

Just to make things clear : to benefit from the sharedrop, I need to withdraw all bts I have on exchanges and keep it in my bitshare wallet ( ie. “Freedom Ledger” or “Open Ledger”). I wont get anything if I keep it on the exchange.
Is that correct?


What about the exchange wallets, are they exempt, or are they just gonna pocket it?

I think the only wallets getting the peerplay is the BTS online web site.
All others are ignored.

You can use, or the light wallet

Those exchanges are all compatible and you can move/share your funds and wallet files between all of them.

And always remember, backup, backup, backup. Only you are in control of your funds.

i like snapshot coins

Fantastic idea: it will broaden the Peerplays user base!

Another great reason to buy & hold Bitshares (BTS)!

Great news, just bought more BTS and shared this article to my twitter. Now I just hope I don't forget to move them off the exchange by Sept. 1st

There is ONE Exchange that will be included in the sharedrop, the BitShares Exchange itself.
So if you hold or trade BitShares don't do that on centralized exchanges. Put your funds on OpenLedger/FreedomLedger/BitShares to support and protect your investment.

Good to know. Thanks. I trade a lot so I spread my portfolio over multiple centralized exchanges. If I take a hit, it hurts but at least I don't lose everything. Plus it works out nice for arbitrage deals. But you are absolutely right about that, holding your own keys in your own wallet is the safest way to go and great advice! Thanks again.

Wow nice news. Time to fill my pocket with new coins!
See u in the moon!

I am watching out for the date and time. Great developent

Great - another friggin rabbit hole LOL
OK i created a bitshares account - if anybody wants to help a broke carpenter you can #payitforward send some BTS to rxhector2k5 (while i figure out how to transfer some alt coins to trade)

awesome @kencode - thx , i went and read the article - very cool
i been bit-bummin for a few years - had a dash miner running but i moved and havent been able to plug it back in yet - i managed to get my dash transfered - now to convert it to bts

ok, this is weird
the 100 bts showed up - i sold dash for bts and got that OK
then your 100 bts just friggin dissappeared ?
its not in the transactions log at all - which is really friggin wierd

No :). I dint't send you any BTS. I linked you to kencode article. He's is doing giveaway in that topic.
Here you have little I'm sorry (sent you 1000)

wow, thats super awesome ;)
I could swear I saw my BTS at 100 (like right after I created bitshares account) - maybe i need more water - and by water i mean coffee is made out of water

This is BIG! :D...

Excellent news!!
A couple of questions:
Are bts1 not imported to bts2 will be sharedropped or do they need to be imported to bts2
When is the estimate that people can start play games?

Some questions like this that are beyond the parameters of our announcement we are compiling all together so we can give a full FAQ later. Stay tuned.

Good question, I'm wondering the same thing.

Since anyone can top up his balance of STEEM using Bitshares I have reasonable question:
What is the connection between Steemit and Bitshares?
#steemit #bitshares

They have a common technological base.
They are both the work of Dan Larimer and his team.
You can trade STEEM and SBD on the BitShares internal exchange (aka OpenLedger).

Seems to be the day of big announcements.

can you deposit btc to bitshares? or do you just deposit bts only.

here is a list of what you already can deposit as of today

  • AGRS
  • AMP
  • BKS
  • BTC
  • DAO
  • DASH
  • DGD
  • DOGE
  • EMC
  • ETH
  • EURT
  • LISK
  • LTC
  • MAID
  • MKR
  • MUSE
  • NBT
  • NSR
  • OMNI
  • PPC
  • SBD
  • USDT

Yes, via Openledger ( assets), thx to Blocktrades.
They support many popular coins.

I am a cryptocurrency novice as Steemit is my first foray into this amazing community.

While I read each and every comment, I'm still a bit confused.

In order to participate in this Sharedrop with @peerplay would I be required to hold a specific amount of BTS in my wallets throughout the entirety of the event or may I add or subtract BTS as it continues?

Thanks folks. Looking forward to learning much more about PeerPlays, Steemit, BItcoins and hell, all of these fascinating new economies.

Edited to add: I'm thirsty for a mentor in cryptocurrencies in general and community building through new economies. Any sources or people I could speak with would be greatly appreciated!

During the period you have no idea what the actual date will be. If you like to gamble, you can certainly add and subtract. You just never know if the random time it happens is the time when you have little, or a lot at that time.
Generally speaking this means it's best to have the most amount of BTS possible in your wallet at the time of the sharedrop.

There are many communities to consider. Bitshares is a good place to start. Many of them are conveniently right here already. Check out #bitshares.

Thanks @peerplays!

Your response got lost in my feed. I will certainly checkout #bitshares to learn all I can.

Nice to see Peerplays on here. I am still holding my tokens:)

Muy buen materiasl, me gusta lo que ha publicado

Wow @peerplays sounds pretty cool! So can we design our own games and make money if people play them? Is there a publishing fee for submitting games?

Exactly! Anybody would be able to add their games. Fees involved will ultimately be the choice of the DAC Advisory Committee. Initial recommendations would be to make it free.

That's great. Sometimes I think I'm good at thinking of fun things and good game structures :p I guess I can test that theory!

OK, i created bitshares account and dumped some dash for bts
and thanks to @n25052016 for donation (and @kencode when he gets around to it)
Now I have some BTS - so now I just leave it there and wait ?

Yes, just wait and you will receive about 0.0208627450980392 PEERPLAYS(rough estimate) for your 1,064 BTS.
That's about $ 0.30 at todays valuation of $ 14 per PEERPLAYS.

YAY , im on my way to be a billionaire ;)

Someone peerplays can comfirmed if this calculation is true?

By "must hold BTS in your BitShares wallet ( ie. “Freedom Ledger” or “Open Ledger”)", do you mean any address on the bitshares blockchain which isn't that of a known exchange (such as poloniexcoldstorage)?

Because I'm using the "Bitshares2-light" client, so I want to check if that's fine to get the sharedrop?

Didn't have another way to reach you :) but wanted to thank you for your upvote. So much more cool advertising projects coming soon :] i would love to have you as a follower. I see you do mostly curation :]

I wanted to show you another project im working on with @cmtzco


xaero hey can you check my blog?

I just checked out your blog, and it looks Amazing (all those places... wow!) Following :)

Thank you! same here (:

What about refferal campaign? Got news?

Great to see you are giving back! I've been invested in Bitshares since about day one and am curious as to why you chose to sharedrop on BTS instead of AGS/PTS?

AGS/PTS were converted to BTS. Excluding all the supporters of the time that followed AGS/PTS wouldn't be fair.

To be honest I'm a little saddened by how few have honored the original 'social contract' that was the premise for AGS/PTS donations - including Dan himself with Steemit. Bitshares/Steemit/Peerplays/Graphene would not exist without that crucial first round of funding that started it all, and yet those that took a leap of faith by investing in a startup running on hope and dreams have largely been forgotten in the excitement of the now-mature tech actually making some serious money!

I do agree that AGS/PTS has been converted to BTS and I personally haven't sold a single bitshare, so I'll be fine. But aside from grouching a bit on dilution, it's just the point. The earliest investors took a huge risk based on a 'social contract' that has not panned out so far.

Anyways, kudos for voluntarily recognizing the Bitshares community! I'm following your project and several others built on the platform; the tech is amazing and the next couple years are going to be crazy fun!

Yeah, I really wish that, as BTS holders, we received a sharedrop for STEEM. That would have been quite a payday!

So BTS holder never got a sharedrop for STEEM ?

I'm an AGS holder from a while back but I completely missed this conversion to BTS. Can you point me somewhere I can get more information about it?
download BTS 0.9.3c
download Blockchain
import AGS Keys
export Wallet 0.9.3c
download BitShares 2.0
import Wallet 0.9.3c
claim balances
backup wallet

that's the procedure more or less how many PP for how many bts will there be received?

Like, if you have 10000BTS now in your openledger account, how many PeerPlays will you get at the sharedrop?

I believe Peerplays has 1M tokens. 5% are being sharedropped, which is 50,000 total Peerplays tokens. So take the number of BTS you own, divide by ~2.55B and multiply by the 50,000...and that should be the approximate number of Peerplays tokens you will receive.

Good question. I am thinking the same.

Another article that catches attention...upvoted.

nice post

i am forced to post this in your comments becuse the following error wont let me make it a story as well as all the other bullshit it has cuased

every time i try to vote i get this error

Transaction failed: abs_rshares > 50000000 || abs_rshares == 1: voting weight is too small, please accumulate more voting power or steem power

i cant even vote on comments

and too top it off my account is losing value for some god forsaken reason.
help me steem, help me!!
do you care about your site or are all the rumors true, are you in it for the cash?

I sold all BTS. Do I still get a cut because I had angelshares?

nice post

Will peerplay trade in other exchanges other than open ledger or freedom ledger? There is a liquidity crisis in these exchanges.

Trading on other exchanges will not help to solve the "liquidity crisis".

I need a ELI5 for this

Hold BTS and you will get some Peerplays.


I'm trying to understand as well ... can I use my bitshares wallet without having to use Open Ledger? Say, I use my @complexring (or something similar).

OpenLedger it's like Bitshares wallet online, but you private keys are stored in Browser cache localy! 3rd party servers don't know your keys! And for this reason it is important to backup your wallet with your new account ASAP to bin file.
Lightwallet it is also browser based. You can download it here :

I understand ... I have run my own local server that connects to the OpenLedger's websockets (mainly because I was too idiotic to figure out how to get a full bts 2.0 node running).

I haven't participated in a dropshare before. All I wanted to know is if I could have my username already be created (which it is) and have (more) funds moved into my account and be credited during sharedrop, without having to go through the whole sign-up through OL.

In many ways bitshares accounts are handled in a similiar way as steem. Initial creation/registration requires a fee and new accounts must be registered by existing accounts. Currently openledger is the well known registration entitiy(similiar to but there are others, freedomledger is another one. You can also have someone you trust register the account for you and transfer it to a key you control.
Once you have the account you can access the bitshares blockchain through one of these web portals or run a your own local witness node. The node is very similiar to steemd and can be connected to a cli wallet or gui. Essentially once you have your account, you could do all your trading through your own local node.

I ported my username over from 0.9.x and run a light wallet connecting to the WS that OL provides. I just wanted to know how I would be credited if I deposit funds into the account that I control.

I am holding BTS for 3 weeks on exchange. Why they dont share it to ppl who holds BTS on exchanges?

if i understand it correct it is like the NXT community is doing the sharedrop for the coming ARDOR? So will get PEERPLAYS for the holding average of the 16 day period?

Anyone interested in learning more about the exciting Peerplays project should take a listen to the BeyondBitcoin meetups on soundcloud

So can I keep the BTS in openledger exchange or is their a specific wallet with open ledger?

I created an account freedom ledger.
How to deposit my bts from the poloniex to freedomledger ?
Sorry for the question but i can not find.
Thanks, help me!

I'm holding bts on eobot is that fine?

Keep it on your own wallet.

No, you will not be included there either.

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