46
General Discussion / Re: Proposal Idea for Bitshares - Use SmartCoins instead of User Assets for Altcoins
« on: October 07, 2017, 01:02:39 pm »A SmartCoin is not the same as its underlying counterpart. If you have actual bitcoins in your BTC wallet and want to exchange them for USD, the bitBTC/bitUSD market is useless to you.
SmartCoins are useful for traders (because they're derivatives), and they could be useful to merchants/users for transferring value (at least in the case of FIAT derivatives). The latter is unlikely to happen for altcoins.
It is not the same an accounting note that a real BTC and nevertheless millions of operations are done with these notes in the centralized exchanges. With SmartCoins it will be the same, but without counterpart risk.