Author [EN] [ZH] [ES] [PT] [IT] [DE] [FR] [NL] [TR] [SR] [AR] [RU] [EN] [ZH] [ES] [PT] [IT] [DE] [FR] [NL] [TR] [SR] [AR] [RU] [EN] [ZH] [ES] [PT] [IT] [DE] [FR] [NL] [TR] [SR] [AR] [RU] Topic: Bitshares + Gyft + Ripple/Stellar = IOU Network for User Issued Assets.  (Read 615 times)

0 Members and 1 Guest are viewing this topic.

Offline luckybit


Overstock could issue their giftcards directly on Bitshares as a User Issued Asset which represents Overstock giftcards.

Then we would purchase those giftcards on the Bitshares exchange just as we would purchase BitUSD or user assets. These giftcards would not be market pegged so Overstock would issue it themselves. These giftcards would be legal digital IOU tokens and treated as coupons or vouchers which anyone can send to a Ripple Gateway or to Gyft.

To make it all work the Bitshares community must collaborate with Gyft, Ripple, Stellar, and entice corporations to offer giftcards directly through the Bitshares platform. If we work at it we could possibly get several big companies to do it before the holiday season.

VinnyLingham @ https://twitter.com/VinnyLingham

Amazon gift cards
https://xrptalk.org/topic/2860-thinking-of-starting-an-amazon-gift-card-gateway/

-edit-

BitAssets can also be made redeemable through a similar process. This could someday allow us to trade NASDAQ stocks and real world commodities on the Bitshares chain through the IOU process (and integration with brokerage firms) turn it into actual stocks. The reason that is impossible right now is political rather than technological. The SEC is doing everything in it's power to delay implementing the JOBS Act and Wall Street is not yet integrated into the Bitshares ecosystem.

A priority in my opinion should be to also build contacts in Wall Street. Making Bitshares X compatible with the FIX api through some kind of extension would be the way to go about it. In addition it might be a good idea for delegates to focus on building the necessary contacts, and getting whatever licenses needed to be actual stock brokers if it is possible.
« Last Edit: August 24, 2014, 05:57:36 PM by luckybit »
https://metaexchange.info | Bitcoin<->Altcoin exchange | Instant | Safe | Low spreads

Offline tonyk

  • Hero Member
  • *****
  • Posts: 3309
    • View Profile
Re: Bitshares + Gyft + Ripple/Stellar = IOU Network for BitAssets.
« Reply #1 on: August 24, 2014, 12:23:49 AM »
Great!

Now please delete your other nonsense and confusing post  please!
Lack of arbitrage is the problem, isn't it. And this 'should' solves it.

Offline bitsapphire

Re: Bitshares + Gyft + Ripple/Stellar = IOU Network for BitAssets.
« Reply #2 on: August 24, 2014, 01:44:39 AM »
Overstock could issue their giftcards directly on Bitshares as a BitAsset which represents Overstock giftcards.

Then we would purchase those giftcards on the Bitshares exchange just as we would purchase BitUSD or user assets. These giftcards would not be market pegged so Overstock would issue it themselves. These giftcards would be legal digital IOU tokens and treated as coupons or vouchers which anyone can send to a Ripple Gateway or to Gyft.

VinnyLingham @ https://twitter.com/VinnyLingham

That's very similar to what we are planning to do. You don't need Ripple, Gyft or any other third party for our model though.
Register and get your personal Moonstone Wallet Beta here: https://moonstone.io/login-register.html

Offline tonyk

  • Hero Member
  • *****
  • Posts: 3309
    • View Profile
Re: Bitshares + Gyft + Ripple/Stellar = IOU Network for BitAssets.
« Reply #3 on: August 24, 2014, 02:05:51 AM »
Overstock could issue their giftcards directly on Bitshares as a BitAsset which represents Overstock giftcards.

Then we would purchase those giftcards on the Bitshares exchange just as we would purchase BitUSD or user assets. These giftcards would not be market pegged so Overstock would issue it themselves. These giftcards would be legal digital IOU tokens and treated as coupons or vouchers which anyone can send to a Ripple Gateway or to Gyft.

VinnyLingham @ https://twitter.com/VinnyLingham


That's very similar to what we are planning to do. You don't need Ripple, Gyft or any other third party for our model though.

I do not want to say anything too harsh yet but...

I see a heavy tendency to use this forum to heavily promote your products and services...

It was the ugly delegate ad on top of the forum (and that after inexcusable shutdown of the forum for well over 24h)... now you have 3 posts aimed at nothing but self promotion...

Especially the one where one person wanted to post something on a open forum and redirected it to your PM...

Just saying
Lack of arbitrage is the problem, isn't it. And this 'should' solves it.

Offline toast

Re: Bitshares + Gyft + Ripple/Stellar = IOU Network for BitAssets.
« Reply #4 on: August 24, 2014, 02:08:13 AM »
Quote
Overstock could issue their giftcards directly on Bitshares as a BitAsset which represents Overstock giftcards.

Then we would purchase those giftcards on the Bitshares exchange just as we would purchase BitUSD or user assets. These giftcards would not be market pegged so Overstock would issue it themselves.

bolded statements are contradictory. Let's get our terminology straight before the onslaught of new users arrive to avoid confusing them please
Do not use this post as information for making any important decisions. The only agreements I ever make are informal and non-binding. Take the same precautions as when dealing with a compromised account, scammer, sockpuppet, etc.

Offline donkeypong

  • Hero Member
  • *****
  • Posts: 2331
    • View Profile
Re: Bitshares + Gyft + Ripple/Stellar = IOU Network for BitAssets.
« Reply #5 on: August 24, 2014, 02:49:55 AM »
Overstock could issue their giftcards directly on Bitshares as a BitAsset which represents Overstock giftcards.

Then we would purchase those giftcards on the Bitshares exchange just as we would purchase BitUSD or user assets. These giftcards would not be market pegged so Overstock would issue it themselves. These giftcards would be legal digital IOU tokens and treated as coupons or vouchers which anyone can send to a Ripple Gateway or to Gyft.

VinnyLingham @ https://twitter.com/VinnyLingham


That's very similar to what we are planning to do. You don't need Ripple, Gyft or any other third party for our model though.

I do not want to say anything too harsh yet but...

I see a heavy tendency to use this forum to heavily promote your products and services...

It was the ugly delegate ad on top of the forum (and that after inexcusable shutdown of the forum for well over 24h)... now you have 3 posts aimed at nothing but self promotion...

Especially the one where one person wanted to post something on a open forum and redirected it to your PM...

Just saying

I'm impressed so far by Bitsapphire, but I agree the delegate promotion is getting a little heavy for my taste. Maybe we need a better place for that sort of thing.

Offline tonyk

  • Hero Member
  • *****
  • Posts: 3309
    • View Profile
Re: Bitshares + Gyft + Ripple/Stellar = IOU Network for BitAssets.
« Reply #6 on: August 24, 2014, 03:01:49 AM »
Overstock could issue their giftcards directly on Bitshares as a BitAsset which represents Overstock giftcards.

Then we would purchase those giftcards on the Bitshares exchange just as we would purchase BitUSD or user assets. These giftcards would not be market pegged so Overstock would issue it themselves. These giftcards would be legal digital IOU tokens and treated as coupons or vouchers which anyone can send to a Ripple Gateway or to Gyft.

VinnyLingham @ https://twitter.com/VinnyLingham


That's very similar to what we are planning to do. You don't need Ripple, Gyft or any other third party for our model though.

I do not want to say anything too harsh yet but...

I see a heavy tendency to use this forum to heavily promote your products and services...

It was the ugly delegate ad on top of the forum (and that after inexcusable shutdown of the forum for well over 24h)... now you have 3 posts aimed at nothing but self promotion...

Especially the one where one person wanted to post something on a open forum and redirected it to your PM...

Just saying

I'm impressed so far by Bitsapphire, but I agree the delegate promotion is getting a little heavy for my taste. Maybe we need a better place for that sort of thing.

I am stunned by what you are impressed by (the 24+h UNFORCEABLE forum unavailability, or the floating ad of their delegates at the top of the forum)
but just check their post history...
(No forum defense gang needed here, btw.)

I personally would prefer forum owner who's 3 only post a day are not blatant self advertisement.

TheOnion

« Last Edit: August 24, 2014, 03:08:00 AM by TheOnion »
Lack of arbitrage is the problem, isn't it. And this 'should' solves it.

Offline donkeypong

  • Hero Member
  • *****
  • Posts: 2331
    • View Profile
Re: Bitshares + Gyft + Ripple/Stellar = IOU Network for BitAssets.
« Reply #7 on: August 24, 2014, 03:05:33 AM »
I haven't taken the time to research them, but glad you got that out there.

Offline luckybit

Re: Bitshares + Gyft + Ripple/Stellar = IOU Network for BitAssets.
« Reply #8 on: August 24, 2014, 03:20:18 AM »
Quote
Overstock could issue their giftcards directly on Bitshares as a BitAsset which represents Overstock giftcards.

Then we would purchase those giftcards on the Bitshares exchange just as we would purchase BitUSD or user assets. These giftcards would not be market pegged so Overstock would issue it themselves.

bolded statements are contradictory. Let's get our terminology straight before the onslaught of new users arrive to avoid confusing them please

I don't see how it's contradictory. User issued assets aren't market pegged so Overstock could just issue the giftcard asset.

Care to reveal what made the statement contradictory because I'm not seeing it.
https://metaexchange.info | Bitcoin<->Altcoin exchange | Instant | Safe | Low spreads

Offline arhag

  • Hero Member
  • *****
  • Posts: 1213
    • View Profile
    • My posts on Steem
  • BTS: arhag
  • GitHub: arhag
Re: Bitshares + Gyft + Ripple/Stellar = IOU Network for BitAssets.
« Reply #9 on: August 24, 2014, 08:12:00 AM »
I don't see how it's contradictory. User issued assets aren't market pegged so Overstock could just issue the giftcard asset.

Care to reveal what made the statement contradictory because I'm not seeing it.

Quote
Overstock could issue their giftcards directly on Bitshares as a BitAsset which represents Overstock giftcards.
You used the word "BitAsset" when you meant to write the phrase "user-issued asset". BitAssets only refer to market-issued assets (aka market-pegged assets).
« Last Edit: August 24, 2014, 08:13:53 AM by arhag »

Offline xeroc

  • Board Moderator
  • Hero Member
  • *****
  • Posts: 12176
  • ChainSquad GmbH
    • View Profile
    • ChainSquad GmbH
  • BTS: xeroc
  • GitHub: xeroc
Re: Bitshares + Gyft + Ripple/Stellar = IOU Network for BitAssets.
« Reply #10 on: August 24, 2014, 08:51:22 AM »
I don't see how it's contradictory. User issued assets aren't market pegged so Overstock could just issue the giftcard asset.

Care to reveal what made the statement contradictory because I'm not seeing it.

Quote
Overstock could issue their giftcards directly on Bitshares as a BitAsset which represents Overstock giftcards.
You used the word "BitAsset" when you meant to write the phrase "user-issued asset". BitAssets only refer to market-issued assets (aka market-pegged assets).

*confirmed*
Give BitShares a try! Use the http://testnet.bitshares.eu provided by http://bitshares.eu powered by ChainSquad GmbH

Offline bitsapphire

Re: Bitshares + Gyft + Ripple/Stellar = IOU Network for BitAssets.
« Reply #11 on: August 24, 2014, 01:05:05 PM »
Overstock could issue their giftcards directly on Bitshares as a BitAsset which represents Overstock giftcards.

Then we would purchase those giftcards on the Bitshares exchange just as we would purchase BitUSD or user assets. These giftcards would not be market pegged so Overstock would issue it themselves. These giftcards would be legal digital IOU tokens and treated as coupons or vouchers which anyone can send to a Ripple Gateway or to Gyft.

VinnyLingham @ https://twitter.com/VinnyLingham


That's very similar to what we are planning to do. You don't need Ripple, Gyft or any other third party for our model though.

I do not want to say anything too harsh yet but...

I see a heavy tendency to use this forum to heavily promote your products and services...

It was the ugly delegate ad on top of the forum (and that after inexcusable shutdown of the forum for well over 24h)... now you have 3 posts aimed at nothing but self promotion...

Especially the one where one person wanted to post something on a open forum and redirected it to your PM...

Just saying

I'm impressed so far by Bitsapphire, but I agree the delegate promotion is getting a little heavy for my taste. Maybe we need a better place for that sort of thing.

We might have hit on the heavy side.

The point was that we have thought about this considerably as we are working with others on some projects.

BitAssets will be a lot more worth if user issued assets such as vouchers and stocks work on BTSX or BTS ME (with bitUSD). Things like decentralized, provable index funds of globally distributed startups could become a reality. This is right now simply impossible. In terms of portfolio diversification this would be unbeatable.

We see that right now Invictus is concentrating on getting bitAssets out rather than implementing cheaply issuable user issued assets. That is fine, we just need to keep in mind how important these are for the long term. We would not want to have to issue our vouchers on NXT or some other inferior DAC.
Register and get your personal Moonstone Wallet Beta here: https://moonstone.io/login-register.html

Offline luckybit

Re: Bitshares + Gyft + Ripple/Stellar = IOU Network for BitAssets.
« Reply #12 on: August 24, 2014, 05:48:01 PM »
I don't see how it's contradictory. User issued assets aren't market pegged so Overstock could just issue the giftcard asset.

Care to reveal what made the statement contradictory because I'm not seeing it.

Quote
Overstock could issue their giftcards directly on Bitshares as a BitAsset which represents Overstock giftcards.
You used the word "BitAsset" when you meant to write the phrase "user-issued asset". BitAssets only refer to market-issued assets (aka market-pegged assets).

I wasn't aware there as a distinction. Good to know.
https://metaexchange.info | Bitcoin<->Altcoin exchange | Instant | Safe | Low spreads

Offline luckybit

Re: Bitshares + Gyft + Ripple/Stellar = IOU Network for BitAssets.
« Reply #13 on: August 24, 2014, 06:03:18 PM »
Overstock could issue their giftcards directly on Bitshares as a BitAsset which represents Overstock giftcards.

Then we would purchase those giftcards on the Bitshares exchange just as we would purchase BitUSD or user assets. These giftcards would not be market pegged so Overstock would issue it themselves. These giftcards would be legal digital IOU tokens and treated as coupons or vouchers which anyone can send to a Ripple Gateway or to Gyft.

VinnyLingham @ https://twitter.com/VinnyLingham


That's very similar to what we are planning to do. You don't need Ripple, Gyft or any other third party for our model though.

I do not want to say anything too harsh yet but...

I see a heavy tendency to use this forum to heavily promote your products and services...

It was the ugly delegate ad on top of the forum (and that after inexcusable shutdown of the forum for well over 24h)... now you have 3 posts aimed at nothing but self promotion...

Especially the one where one person wanted to post something on a open forum and redirected it to your PM...

Just saying

I'm impressed so far by Bitsapphire, but I agree the delegate promotion is getting a little heavy for my taste. Maybe we need a better place for that sort of thing.

We might have hit on the heavy side.

The point was that we have thought about this considerably as we are working with others on some projects.

BitAssets will be a lot more worth if user issued assets such as vouchers and stocks work on BTSX or BTS ME (with bitUSD). Things like decentralized, provable index funds of globally distributed startups could become a reality. This is right now simply impossible. In terms of portfolio diversification this would be unbeatable.

We see that right now Invictus is concentrating on getting bitAssets out rather than implementing cheaply issuable user issued assets. That is fine, we just need to keep in mind how important these are for the long term. We would not want to have to issue our vouchers on NXT or some other inferior DAC.

There will be some interesting questions. Suppose delegates got their licenses and became proper stock brokers? Suppose these delegates start a Bitshares brokerage firm to act as the Ripple/Stellar Gateway to turn BitAsset IOU's into actual stocks? If the pegging works so that the buying power of the simulated stock closely matches the real thing then someone who has a lot of BitAAPL should be able to send the IOU to Ripple/Stellar which turns it into a voucher redeemable by the brokerage firm which then buys the real stock on their behalf.

It seems too good to be true but it's technically very possible. The only thing in the way of it happening would be politics. If it does happen then everyone using Bitshares will be able to diversify very easily into real companies so there will be an entirely different market overnight.
https://metaexchange.info | Bitcoin<->Altcoin exchange | Instant | Safe | Low spreads

 

Google+