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General Discussion / Re: Privatizing BitAssets
« on: April 18, 2015, 08:46:15 pm »
However, the privatized bitAsset idea could circumvent that issue to some extend. I am looking more at this as bitUSD with private fee profits and legally compliant whitelisting. It's a middleground between gateway IOUs and true bitUSD. The more I think about it the more it seems that privatized bitAssets with whitelisting capability + gatways for stocks and bonds + synthetic order books should be V1.0.
As for people complaining about Bitshares not behaving like a company, what do you expect? We don't view Bitshares as a DA-Company, but as a DA-Community. Companies are islands of strict non-competition in markets. Think about it, if we are so much pro-market, why are companies command-and-controle structures without any internal markets? It's simple: For a social organization to be a company it needs to leverage information asymmetry, which it then bridges in the open market for profit. DACs don;t have information asymmetry, hence they cannot be companies. At most, they can be community/private utilities.
How would this work? You have a problem when a established player does decide to offering a transparent feed and their own private bitusd. Anybody can come in and undercut them leech their feed and offering another private bitusd w/o whitelisting. What can any system like this get off the ground?