BitShares Forum

Main => General Discussion => Topic started by: luckybit on November 29, 2014, 04:40:58 am

Title: Could the future price of Bitcoin be used in conditional rebates?
Post by: luckybit on November 29, 2014, 04:40:58 am
Suppose we have an asset token in Bitshares called the conditional rebate token. This token would utilize the price feed of Bitcoin and have a date specified in it's smart contract so that if the Bitcoin price is below a certain price on a certain day then holders of the conditional rebate can redeem more of the underlying asset.

So if the conditional rebate were for an artist coin then holding the conditional rebate token would allow you to get more or less of that artist coin depending on what the price of Bitcoin is on a certain day. You could use oracles to turn anything into a price feed such as the scores in football games.

In traditional crowd sales you buy a certain amount of tokens with Bitcoin and if the Bitcoin price goes up since when you bought those tokens the issuer keeps the difference. If you have conditional rebate tokens then in a crowd sale you could set it up that if the Bitcoin price decreases beyond a certain threshold before the snapshot takes place then they'll get more of the tokens which will encourage them to donate Bitcoins and also to want the Bitcoin price to go up.


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