Author Topic: Interview : Using BitShares to crowd-funding for Buffett Stock  (Read 7173 times)

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Offline btswildpig

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downside ?

I don't think it would be any downside .

Of course , is bring too much attention on BitShares has some down side ? Just like what Satoshi feared for Bitcoin ?
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Offline Shentist

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but, why not just create a pegged asset and track the value?

it will give me the same without counterparty risk and the selling pressure you create with this kind of UIA is 0 or better you create buying pressure.

You can still build one and compete on the market .
Just like BitCNY is good , but Okcoin-CNY is good too .

ok, makes sense :D

Offline btswildpig

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but, why not just create a pegged asset and track the value?

it will give me the same without counterparty risk and the selling pressure you create with this kind of UIA is 0 or better you create buying pressure.

You can still build one and compete on the market .
Just like BitCNY is good , but Okcoin-CNY is good too .
这个是私人账号,表达的一切言论均不代表任何团队和任何人。This is my personal account , anything I said with this account will be my opinion alone and has nothing to do with any group.

Offline Shentist

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but, why not just create a pegged asset and track the value?

it will give me the same without counterparty risk and the selling pressure you create with this kind of UIA is 0 or better you create buying pressure.

Offline btswildpig

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If BitAsset buyers are told which BitAssets contain counterparty risk, then what is the downside?


If you sell IOU and gets BTA , then your risk lies the BTA you hold , same as you hold BitUSD . If you don't want to hold BTA , then the organization would exchange fiat for you through exchanges .

If you pay BitUSD to buy IOU , then your risk lies on the IOU you hold , essentially base on trusting  the organization which issued this IOU in the first place .

So , in the process , BTA usage increases .
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Offline emailtooaj

 +5% +5%

This truly is a great use of the BTS blockchain!
These types of ideas and projects are what will help set BTS apart from others. Helping to gain massive future growth.
Find a "real world" need and use BTS for the creative solution.
If the Chinese people have this much pent up demand for purchasing "American Stocks" and don't have an easy outlet to acquire them...other than trying to purchase through a "black market" or "loan shark" style type system, then this idea could very well explode our blockchain!!!!
If this idea gains enough traction it could feasibly get many big players into the game. Introducing a roll over effect from the real US stock exchange onto our blockchain.
I'll go deeper with my wild thoughts!
So DACx buys this BRK-A stock (or have a verified, well named 3rd party secure it for DACx), they break that one stock into 100,000 UIA shares.
And let's say those 100,000 sell like gang busters, ushering in...let's say 50 new people into the BitShares eco-system. NOW they go buy 2 more BRK-A shares and  repeat this same process....  once again phase two sells out just as quickly because phase one was such a BIG hit, it left many people behind who were still eager to get their money  into the next BRK-A purchasing phase... and on.. and on...
Not only will this create new users but will also help create Buzz towards BitShares (and of course DACx) in the Chinese community.
So now the word is out, people are trying to get their piece of the action they are literally  knocking down DACx doors trying to get in.
So now DACx takes this idea further and expands into other stock options, like Apple, Tesla, etc. Potentially you're now looking at DACx maybe adding $1-2 Million dollars into the BTS system within months (?)!!!

Let's go further down the road, a few months later and ponder this potential scenario...

DACx has just increased  BTS value (due to user increase of software downloads, now buying BTS along side the DACx UIA). China media buzz is trending upwards with this new "stock" buying opportunity. News gets over to the west and a writer from the US Today gets wind of it and features an article of this new China investment trend.
The next day George, who reads the US Today on a daily basis to help him find new, upcoming investment trends for his job, reads the US Today article while saying to himself  "Damn, I need to show this to the boss!"

After battling grueling morning traffic, George finally gets to work a few hours later, grabs his coffee along with the newspaper and heads over to the bosses office. He walks in and the conversation could possibly go something like this...

George- "Good Morning boss! Man, that traffic was hell today wasn't it LOL."

Boss- "LOL yes it was!  I didn't even turn on news radio this morning. Didn't want to stress myself out anymore haha. So whats new!?"

George- "Not to much but I did come across an interesting article this morning in the US Today and I think you'd be very interested in it. It's about this group in China called DACx that are buying up American Stocks and creating a type of hybrid mutual fund, using this thing called a UIA or User Issued Asset. These are allowing the Chinese to purchase small blocks of a particular stock that DACx has acquired from the NY Stock Exchange and selling them to local investors through a program called BitShares. I think I've looked into BitShares once before, but it was so damn confusing and I had to put it aside, I'm now just hearing about it again. But basically BitShares is a decentralized Exchange floating around in the cloud for anyone to use. I'll tell you more what I know about BitShares in a minute, but back to this company DACx.  They've taken this BRK-A stock and created 100,000 UIA's to sell to people in China who can't typically afford to purchase one whole stock; let alone buy any American Stocks period! They're doing this to a number of other American company stocks also. It was so successful that they've sold $5 Million dollars worth of UIA's within 6 months and are projected to increase this volume by 200+% by years end.
Listen boss, I know you're always trying to find other investment avenues and I think this is something we really need to look deeper into. It's a very viable option!!"

****After George had spent some time explaining to the boss his knowledge of BitShares and how it works, the conversation then could take a wild turn...

Boss - "George you're right. If something like this is taking off so quickly in China then obviously we need to look into this further. I just can't believe the structure of this whole operation and how simple it really is. Here's an opportunity to not only expand our current holdings, but my god, 10 second transaction times; less than 1% fees to buy or sell any asset; no more brokerage houses that people will need to go through; stocks that can be bought on a global scale at any time 24/7.   We really need to get a team together...QUICKLY and figure out how to take advantage of this new tech. Damn George, just think... if we could move our company stocks onto this BitShares blockchain, we could literally double our selling exposure and in-turn double our stock value; and get off this damn "good ole boy" corrupted NY Stock Exchange!!

George- "You see Boss... That's why you make the big bucks!! Always looking three steps forward.  I'll start this new project immediately!"


LOL, so... now that you've read my crazy story.

This is why I give DACx a  +5% +5% for taking on this initiative. You just never know what could happen. This could very well be the first step to get the established "real world" companies to start transitioning on over to the blockchain.

If you think about it... who's this potential "Boss" in this scenario... that you've painfully had to read? (maybe I can get this story crypto-prometheus'fied lol)
Is it Warren Buffet?
Is it Bill Gates?
Is it Tim Cook?
Is it <Insert Name Here>?

Peace!



 
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Offline joele

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+5%
In the future we can buy all kind of stocks from different countries using bitshares.

Offline btswildpig

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UIA= user issued asset .

What does it do ?

Well , if I hold some UIA and many people want to buy it , and I direct them to buy it on BitShares exchange .

How can he buy it ?  Of course , buy some BitUSD or BitCNY and move to the BitShares inner exchange . Then increase the demand of Market Pegged Assets .
For those people who don't even know BitShares or even computer , he can still ask the broker to buy it for him , while the broker use Market Pegged Assets to trade in BitShares exchange . That brings volume to Market Peggeg Assets too .

If those people who wants to buy it are different than the ones who already knew BitShares , then it means draw attention from outside the crypto space into BitShares .

UIA is just a tool , what it does depends on the ones who issue it .
这个是私人账号,表达的一切言论均不代表任何团队和任何人。This is my personal account , anything I said with this account will be my opinion alone and has nothing to do with any group.

Offline eagleeye

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Just keep your fees as low as ETFs and you will have a cost competitive advantage.

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If the best that the Chinese marketing and PR (head/spokesman) can come up with is an UIA like this....we are in deep deep shit.
(As the western side of that department is a sink hole at best, as we all must know by now)

It may be worth looking into WHO is backing Dacx ;D

WHO? - I thought the spokesperson's venue? No?



If the best that the Chinese marketing and PR can come up with is an UIA like this....we are in deep deep shit.

I believe this is a business idea funded independently. While it may not meet your expectations as of a great idea I suspect it's one of many uses for Bitshares that we'll see.

So they have demonstrated they have a lot of VC backing. What would you do with that sort of money? For liquidity bots is the best I've come up with so far which to be honest isn't that creative.

The liquidity bots might not be the most creative of all creative ideas. (although the transformation in the future to a DAC is pretty ambitious/innovative in its own right). But it provides  benefits not only for its owners but for the BTS ecosystem as a whole by providing very needed service; plus compared to this project - cryptohedge does not collect a ton of money from the crypto space (BTS) to just through those funds away into buying a share(s) in a publicly traded company.


If the best that the Chinese marketing and PR (head/spokesman) can come up with is an UIA like this....we are in deep deep shit.
(As the western side of that department is a sink hole at best, as we all must know by now)

It's far more than just an UIA.
Like how?
« Last Edit: March 05, 2015, 08:33:30 pm by tonyk2 »

Offline muse-umum

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If the best that the Chinese marketing and PR (head/spokesman) can come up with is an UIA like this....we are in deep deep shit.
(As the western side of that department is a sink hole at best, as we all must know by now)

It's far more than just an UIA.

Offline Gentso1

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If the best that the Chinese marketing and PR (head/spokesman) can come up with is an UIA like this....we are in deep deep shit.
(As the western side of that department is a sink hole at best, as we all must know by now)

It may be worth looking into WHO is backing Dacx ;D

Offline Riverhead


If the best that the Chinese marketing and PR can come up with is an UIA like this....we are in deep deep shit.

I believe this is a business idea funded independently. While it may not meet your expectations as of a great idea I suspect it's one of many uses for Bitshares that we'll see.

So they have demonstrated they have a lot of VC backing. What would you do with that sort of money? For liquidity bots is the best I've come up with so far which to be honest isn't that creative.

zerosum

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If the best that the Chinese marketing and PR (head/spokesman) can come up with is an UIA like this....we are in deep deep shit.
(As the western side of that department is a sink hole at best, as we all must know by now)
« Last Edit: March 05, 2015, 07:49:36 pm by tonyk2 »

Offline Ander

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Its definitely not a ponzi scheme or anything like that.

It does rely on the trust of the centralized party who uses the funds to purchase the BRK stock and holds them.  Because this stock cannot be divided into pieces to be claimed by the small investors who buy pieces of them, it has to remain with some central source which must be trusted.

Aside from that flaw, its a good way for small investors outside of the US to get exposure to berkshire stock.
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