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Main => General Discussion => Topic started by: vid on April 29, 2015, 08:20:41 am

Title: my thinking how to create bitAssets please give feedback
Post by: vid on April 29, 2015, 08:20:41 am: Bitshares can only create bitGOLD or bitSILVER, bitGOLD and bitSILVER can only create country backing currency, BTS can exchange BitAssets.

How the bitGOLD or bitSILVER is being create. The market can only go up or down an example Alice want to created bitSILVER and the price is 100BTS to 1silver at the time, Alice make a derivative contract 50BTS buy up and 50BTS buy down at the same time in the blockchain this the market can go up or down the contract is worth it 100BTS all the time no interest involved and Alice need to put 100BTS to secure this contract a bitSILVER is born. All contract is the same only volume of the contract not the same the price volume is at the contract create wallet. If the new price of the BTS is 50BTS to 1silver Alice can end his old contract using 1bitSILVER in her own wallet and make a new want at a lower price.

How bitUSD,bitCNY is being create. bitGOLD or bitSILVER is back by 200% of BTS so what the price of the gold or silver is the price of the currency. Then blockchain holding the bitGOLD or bitSILVER to back the bitUSD,bitCNY. And blockchain control the backing currency limit flow in and out of bitGOLD and bitSILVER.
Title: Re: my thinking how to create bitAssets please give feedback
Post by: monsterer on April 29, 2015, 09:47:02 am: Quote from: vid on April 29, 2015, 08:20:41 am
Alice make a derivative contract 50BTS buy up and 50BTS buy down at the same time in the blockchain this the market can go up or down the contract is worth it 100BTS all the time no interest involved and Alice need to put 100BTS to secure this contract a bitSILVER is born.

As soon as bitSILVER/BTS price moves more than 50 BTS in either direction, one of Alice's contracts will get margin called and the bitSILVER gets destroyed.
Title: Re: my thinking how to create bitAssets please give feedback
Post by: vid on April 29, 2015, 12:57:27 pm: As soon as bitSILVER/BTS price moves more than 50 BTS in either direction, one of Alice's contracts will get margin called and the bitSILVER gets destroyed

this two contracts is link one can go up one can go down the win can cover lose, or the blockchain can automatic close two link contracts.
Title: Re: my thinking how to create bitAssets please give feedback
Post by: monsterer on April 29, 2015, 01:04:31 pm: Quote from: vid on April 29, 2015, 12:57:27 pm
this two contracts is link one can go up one can go down the win can cover lose, or the blockchain can automatic close two link contracts.

If a cover occurs, the contract will continue and the bitSILVER will still exist, but as soon as the contract is broken, the bitSILVER disappears.
Title: Re: my thinking how to create bitAssets please give feedback
Post by: vid on April 29, 2015, 01:48:47 pm: If a cover occurs, the contract will continue and the bitSILVER will still exist, but as soon as the contract is broken, the bitSILVER disappears

Then bitshares can use the cover concept, to create bitGOLD or bitSILVER and people don't lost the BTS ok
Title: Re: my thinking how to create bitAssets please give feedback
Post by: monsterer on April 29, 2015, 01:56:29 pm: Quote from: vid on April 29, 2015, 01:48:47 pm
Then bitshares can use the cover concept, to create bitGOLD or bitSILVER and people don't lost the BTS ok

Is this now any different from the current system?
Title: Re: my thinking how to create bitAssets please give feedback
Post by: vid on April 29, 2015, 02:11:44 pm: Is this now any different from the current system?

people can create bitAssets and don't lost the BTS, and the BTS price go up i can take back my the same BTS have more value.
Title: Re: my thinking how to create bitAssets please give feedback
Post by: vid on April 30, 2015, 12:18:39 am: Long or Short is for experienced trader not normal people, blockchain only want derivative contract to make bitAssets