A US citizen's book entry into steemit on how to get into the EOS smart contract blockchain. Part 4

This is an update to my steemit book entry on my venture into the new world of EOS.
Please refer to my previous intro using this link.

https://steemit.com/eos/@jayem/a-us-citizen-s-book-entry-into-steemit-on-how-to-get-into-the-eos-smart-contract-blockchain-part-3

Well now, after getting a bit more familiar with the bitshares interface it turns out I did not understand what it was asking. It is a pretty handy platform for exchanging a ton of crypto assets.

So this is how it goes. I had asked Sarah at UPMA previously to take some of my PMs and convert $100's worth into Quint(s). Basically QUINT is for Gold tokens and QUINTS is for silver. Now Quintric Trust Company which is pretty much the same company as UPMA is a user on bitshares offering quint assets, and I can then have them transfer the quints to my account easily inside the bitshares platform.

I can then trade my quints into bitshares and then bitshares into crypto currencies such as EOS. Transaction costs are usually less than 1%. So I put both my quint assets (quint and quints) up for trading and exchanging them into bitshares. Because there is basically no market for the new quint assets there is no exchange rate. Quintric says that each token is worth 1.66 USD, and it appears as if this price is a fixed price, which does not make sense to me because we all mow that gold and silver are not fixed to the USD. Anyway I convert 1.66 USD into BTS/USD (.15) and get about 11. It so happened to be the last price paid for gold quint but silver quint has none. So I offer the trade for 11.000 for both quint on half of my holdings. The order sits for hours. Upon reading the following two quint assets descriptions, I decided to change the orders.

Asset QUINT

The Quint token, issued by Quintric Trust Company, is redeemable from the issuer for 5 U.S. gold cents (1,000th of a troy ounce) or the equivalent amount in your country's gold legal tender. For more information visit quintric.com

Issuer quintric-trust

Asset QUINTS

The QuintS token, issued by Quintric Trust Company, is redeemable from the issuer for 5 U.S. silver cents (20th of a troy ounce) or the equivalent in your country's silver legal tender. For more information visit quintric.com

Issuer quintric-trust

So after converting the latest PM market prices I ask 8.25 BTS for quint (gold) and 5.25 BTS for quints (silver) again only half of my assets. After a few hours both orders filled. It almost felt like I got snuffed at a lower price because when I checked with the Quintric website they seem to indicate that the tokens are at a fixed price. This is now on the weekend so I cannot confirm this until Monday, I will put an update as soon as I know more about this. Good thing I only offered half of my assets,about 50 USD.

So I decided to put up the rest of my asset for 10.50 USD each for BTS. Later the gold sold, but as I write this the silver order is still an open.

Either way I got some BTS to buy EOS tokens with.

Now this is where it gets a little confusing for me. The EOS asset that I see on bitshares is just an asset issued by the user sat0shi that basically does not trade and does not have much more information about it.

Now when you search for "EOS' in bitshares you get these additional assets offerings such as gdex.EOS and open.EOS among others. These, unlike the EOS asset, trade more and when you click on them, they have information about them like the following;

Asset open.EOS

OPEN.EOS is OpenLedger-issued asset for EOS Ethereum token. After EOS release it will be replaced by "real" eos The EOS.IO software introduces a new blockchain architecture designed to enable vertical and horizontal scaling of decentralized applications. https://eos.io

Issuer: openledger-wallet

Then during my investigations I came across this steemit post: https://steemit.com/utopian-io/@chiefmappster/how-to-buy-eos-with-bitshares

Upon some more research I see a response to someone on reddit that someone from openledger assuring that all airdrops will be transferred to all owners of open.EOS.

And so open.EOS it is. And since I I had bought the open.EOS tokens last Friday I think, I had received toekn for an asset called FORDCOM. Is this an airdrop? I am not sure.

So here are some question that I have.

Are quints really fixed in price? I will follow up with and update after talking with Sarah on Monday.

Is holding open,EOS on the decentralized bitshares platform safe? I read somewhere that bitshares.org is both an exchange and a wallet.

Is holding open,EOS the same as having the real EOS tokens?

Does holding open.EOS enable you to get airdrops and be able to vote?

If anyone reading this have any answers to these question, have additional information or have corrections about any of this I would greatly appreciate it.

Stay tuned for the update and I will try to wrap this up next Sunday.

I have to be honest here however, I am starting to taste a little bit more of that freedom as I am getting closer to this new EOS world order.

Update as promised: So it turns out that the price of the Quintric tokens are base on the proof value of the minted coins. This price does not fluctuate as my as in the metals market because they are only set periodically by the government. Hence, is probably the reason why they are no taxed as well. I never knew this, but this is most likely why my PM holding at UPMA have not been fluctuating as much as the market has. The proof prices probably go up here and there but then don't down go down too often.
Also, what I thought were airdrop are actually smart assets that are distributed, in very small amounts, apparently to promote the new assets for trading.