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Offline prophetx

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Cost of Creating an Asset?
« on: August 23, 2014, 04:47:57 AM »

I went to check this out and it seems that the cost of creating an asset is currently about $5000

How can this be?

Quote
Fees for creating a new asset: 196,589.0304 BTSX

Offline bytemaster

Re: Cost of Creating an Asset?
« Reply #1 on: August 23, 2014, 04:50:14 AM »
I went to check this out and it seems that the cost of creating an asset is currently about $5000

How can this be?

Quote
Fees for creating a new asset: 196,589.0304 BTSX

BTS X is not designed for every user under the sun to issue assets, but instead is trying to focus on larger high-value assets.  BitShares ME will be for everyone else.
For the latest updates checkout my blog: http://bytemaster.bitshares.org
Anything said on these forums does not constitute an intent to create a legal obligation or contract between myself and anyone else.   These are merely my opinions and I reserve the right to change them at any time.

Offline prophetx

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Re: Cost of Creating an Asset?
« Reply #2 on: August 23, 2014, 05:17:40 AM »
I went to check this out and it seems that the cost of creating an asset is currently about $5000

How can this be?

Quote
Fees for creating a new asset: 196,589.0304 BTSX

BTS X is not designed for every user under the sun to issue assets, but instead is trying to focus on larger high-value assets.  BitShares ME will be for everyone else.

ah ok

and when is ME slated to come out?

Offline bytemaster

Re: Cost of Creating an Asset?
« Reply #3 on: August 23, 2014, 05:20:48 AM »
When ever someone wants to fork the code and launch it.
For the latest updates checkout my blog: http://bytemaster.bitshares.org
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Offline MrJeans

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Re: Cost of Creating an Asset?
« Reply #4 on: August 23, 2014, 11:01:07 AM »
When ever someone wants to fork the code and launch it.
Hahaha love this industry

Offline kasman5

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Re: Cost of Creating an Asset?
« Reply #5 on: August 23, 2014, 12:08:03 PM »
When you say create an asset does this mean to be traded on the exchange?
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Offline bitsapphire

Re: Cost of Creating an Asset?
« Reply #6 on: August 23, 2014, 04:30:28 PM »
When ever someone wants to fork the code and launch it.

We are actually very interested to do this. We had hopped we could soon sell special Bitsapphire crypto development vouchers at a discount through BIitSharesX. We would issue vouchers which we will honor at a 20-50% disocunt rate, meaning people would be able to buy 10,000 USD worth of development time for 8-5K USD.

Looks like due to the upfront cost of issuing bitAssets the economics would not work out on BTSX.

What is needed for BitShares ME to get forked? What is ready and what isn't? How much would it cost people to issue bitAssets? Will the only dividend be from Delegate fee destruction or also something else?

We would like to issue our vouchers in the near future through BitShares ME rather than one of the ridiculous Meta-coins.
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Offline mczarnek

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Re: Cost of Creating an Asset?
« Reply #7 on: August 24, 2014, 03:29:48 AM »
You are also welcome to head over to Nxt and try them out.  The cost to issue an asset there is about $30.

Offline lucky331

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Re: Cost of Creating an Asset?
« Reply #8 on: August 24, 2014, 04:14:36 AM »
speaking of which.  you can do this in ripple as well at no cost.  here are two of examples:

http://ripplexmm.blogspot.com/p/about.html

https://ripplefox.com/fund/fmm

Offline bytemaster

Re: Cost of Creating an Asset?
« Reply #9 on: August 24, 2014, 04:18:00 AM »
At the end of the day, assets that want to trade against BitUSD will pay more to be listed here... assets that don't need that kind of trading can get listed elsewhere cheaper.
For the latest updates checkout my blog: http://bytemaster.bitshares.org
Anything said on these forums does not constitute an intent to create a legal obligation or contract between myself and anyone else.   These are merely my opinions and I reserve the right to change them at any time.

Offline bitsapphire

Re: Cost of Creating an Asset?
« Reply #10 on: August 24, 2014, 12:56:00 PM »
At the end of the day, assets that want to trade against BitUSD will pay more to be listed here... assets that don't need that kind of trading can get listed elsewhere cheaper.

Bitshares Music will most likely depend on user issued assets. We would not be surprised if BitUSD is still needed in that DAC. Issuing artist coins should not be incredibly expensive. Listing such vouchers would be the same concept.

By creating such a great barrier to entry only big companies can create their assets on BTSX. Startups or companies from the emerging economies won't have the cash to do so. However, it is these startups which are most inclined to break the status quo and get listed on BTSX. Statistically speaking some of these startups will become big, and won't have the need to switch DACs/platforms again later once they are big. This adds in the long term probably the most value to the platform as these companies will deal in bitUSD natively too.

Are there any solutions to that atm? Or have we misinterpreted something?
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Offline bytemaster

Re: Cost of Creating an Asset?
« Reply #11 on: August 24, 2014, 02:11:19 PM »
At the end of the day, assets that want to trade against BitUSD will pay more to be listed here... assets that don't need that kind of trading can get listed elsewhere cheaper.

If I created  an asset as shares on a special project at BTS , and people bought it .How can I give them dividend ?

Share buy back.
For the latest updates checkout my blog: http://bytemaster.bitshares.org
Anything said on these forums does not constitute an intent to create a legal obligation or contract between myself and anyone else.   These are merely my opinions and I reserve the right to change them at any time.

Offline maqifrnswa

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Re: Cost of Creating an Asset?
« Reply #12 on: August 24, 2014, 02:22:23 PM »
At the end of the day, assets that want to trade against BitUSD will pay more to be listed here... assets that don't need that kind of trading can get listed elsewhere cheaper.

If I created  an asset as shares on a special project at BTS , and people bought it .How can I give them dividend ?

Share buy back.

Well.....What if I sold 100 share for 10000 USD for the project...
And my project earned first batch of profit,I need to give 10% dividend to whomever bought my share.
Now, if I have to buy back the shares to give dividend ,then I have to offer 11000 USD to buy back the share,which means it's a one time deal ......and the funding of my project is gone . I'm not able to continue the project with the funding .

you only buy back as much as your dividend is, not the entire lot
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Offline toast

Re: Cost of Creating an Asset?
« Reply #13 on: August 24, 2014, 06:25:22 PM »
At the end of the day, assets that want to trade against BitUSD will pay more to be listed here... assets that don't need that kind of trading can get listed elsewhere cheaper.

Bitshares Music will most likely depend on user issued assets. We would not be surprised if BitUSD is still needed in that DAC. Issuing artist coins should not be incredibly expensive. Listing such vouchers would be the same concept.

By creating such a great barrier to entry only big companies can create their assets on BTSX. Startups or companies from the emerging economies won't have the cash to do so. However, it is these startups which are most inclined to break the status quo and get listed on BTSX. Statistically speaking some of these startups will become big, and won't have the need to switch DACs/platforms again later once they are big. This adds in the long term probably the most value to the platform as these companies will deal in bitUSD natively too.

Are there any solutions to that atm? Or have we misinterpreted something?

Aren't you making a clone of BTSX? You can make it whatever price you want...
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Offline Empirical1

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Re: Cost of Creating an Asset?
« Reply #14 on: August 24, 2014, 06:28:45 PM »
I went to check this out and it seems that the cost of creating an asset is currently about $5000

How can this be?

Quote
Fees for creating a new asset: 196,589.0304 BTSX

BTS X is not designed for every user under the sun to issue assets, but instead is trying to focus on larger high-value assets.  BitShares ME will be for everyone else.

 +5% I like this strategy vs. having 10001 $30 user issued assets on the main BTSX blockchain.

 

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