61
General Discussion / Re: BTC to BitBTC
« on: March 23, 2016, 08:49:38 am »
If I'm understanding this correctly, UIA is the way to go. Actually, the only way. If you want to issue tradable ETF-share, then there is not much other alternatives.
In Bitshares exchange there is no limit what assets or currencies you can use to buy another asset (unless asset issuer has made some limitations). There is also fiat-gateway, so you clients can use a normal bank transfer to get OPEN.USD or OPEN.EUR and then buy your ETF-UIA with those.
Simplest way for the customer would be that you'd handle transactions manually. Customer sends an email: "Hi, I wanna buy x amount of your ETF" and they will pay to you with bitcoins or fiat-transfer or whatever, and when you have recieved the payment, you transfer the ETF-token to the customer's account. All trades don't need to happen in the exchange.
I think you want to make sure that there will be liquid BTC/ETF market? Isn't that why you ask about BitBTC? I'm not sure if this is really necessary. You can always calculate the true value based on what the ETF contains, you don't need a direct and liquid market pair for that. And also, if most of your customers are not interested in anyway for trading, the need for liquid market is even less. It is true that it will be cool if ETF like this is tradable, but I don't think that it's really necessary to make sure that it's traded with BTC. Just let people trade it freely with any asset, it will be even better. Maybe some other market pair will become very liquid and active.
In Bitshares exchange there is no limit what assets or currencies you can use to buy another asset (unless asset issuer has made some limitations). There is also fiat-gateway, so you clients can use a normal bank transfer to get OPEN.USD or OPEN.EUR and then buy your ETF-UIA with those.
Simplest way for the customer would be that you'd handle transactions manually. Customer sends an email: "Hi, I wanna buy x amount of your ETF" and they will pay to you with bitcoins or fiat-transfer or whatever, and when you have recieved the payment, you transfer the ETF-token to the customer's account. All trades don't need to happen in the exchange.
I think you want to make sure that there will be liquid BTC/ETF market? Isn't that why you ask about BitBTC? I'm not sure if this is really necessary. You can always calculate the true value based on what the ETF contains, you don't need a direct and liquid market pair for that. And also, if most of your customers are not interested in anyway for trading, the need for liquid market is even less. It is true that it will be cool if ETF like this is tradable, but I don't think that it's really necessary to make sure that it's traded with BTC. Just let people trade it freely with any asset, it will be even better. Maybe some other market pair will become very liquid and active.