BitShares Forum

Main => General Discussion => Topic started by: btswildpig on March 05, 2015, 03:33:34 pm

Title: Interview : Using BitShares to crowd-funding for Buffett Stock
Post by: btswildpig on March 05, 2015, 03:33:34 pm
“Use crypto technology to empower people from outside of the crypto space use their funds to invest in projects outside of the crypto space that they wouldn’t have access to otherwise,” said this major crypto player. This sounds a little unreal considering how hard it is to attract outside funding in this industry.  Using the blockchain technology to trade American Stocks? What kind of mysterious project is this?

 

Host:  Hello Prince, glad you can make it to our interview.  I heard that you started a digital asset company, can you tell us more about your project?
Prince:  Hello, the project of ours is called DACx, the Chinese name is “everybody is angel” and the site is www.DACX.com.  DACx is a consulting firm that provides BDR or Bit Depository Receipts crowd-funding in order to provide related BDR crowd-funding service for businesses, projects or individuals in need of financing.  As a brand new form of crowd funding DACx is the first attempt to use a digital asset platform to help those in need of better and faster financing.  DACx itself is neither the issuer nor the trader of the BDR, but provides a complete solution for BDR crowd-funding.

Our first project will be crowd-funding for American Stocks.  We would like to perform a crowd-fund of Warren Buffett’s stock (Berkshire Hathaway).  This is a creative project of ours.  One partner came to us with this proposal and we are glad to do it.  We also hope to use the technology provided by BitShares to try to make it work better.  Many people may have heard of Buffett, but maybe none of you here has ever bought one because its price is too high, it’s like 220,000 USD per share, almost 1.4 million CNY.  To most people, even buying one share is too much for them.  We’re trying to use this new form of crowd-funding to let you guys buy Buffett stock together, and we would like to start with one share.

 
Host:  How do you plan to do this?
Prince:  We will issue an asset on BitShares first to split one Buffett stock into pieces using blockchain technology( The project purchases one shares of the stock first from the actual stock market and hold it  ).  Everybody can buy such an UIA (user issued asset )in order to obtain part of the Buffett stock.  You can invest in 100CNY, or even 1CNY.  Then you can trade inside the BitShares Exchange.  If this project is successful, then we will be providing more American Stocks including Tesla, Apple, Google and Alibaba.  For most middle and small investors these stocks are expensive and it’s hard to buy them.  If we put it through the BitShares platform, it would solve these issues quite nicely.  Of course we will do other crowd-funding projects such as traditional assets like as domain names too. You can exit your investment easily in the BitShares platform unlike the traditional crowd-funding platforms, which normally would take 6 months or even 2-3 years to fully exit and you don’t necessarily exit with your funds, you may instead receive gifts such as mugs or movie tickets. But using BitShares you can trade anywhere you want on a global scale.  It’s a good tool for crowd-funding.  This is the project we’ve been working on.

Host:  Do you expect some policy or legal issues?
Prince:  Of course there always will be concerns so we have two legal teams working on the research.  So far the risk probably comes from SEC of United States.  We will have some policy to forbid Americans to purchase such a project and I don’t think Americans would want to buy this because it’s easy for them to buy in the States.  We would only allow investors from outside of the States and we will be blocking USA IP, real name register and other measures to prove that we’re obeying the guidelines of the SEC.  The Chinese has no rules against buying American Stocks so far.

 
Host:  Will Buffett sue you? You split his shares for sale.
Prince:  Sue us? I think Buffett will love us very much.  If we can sell a lot of his stock through this project, who knows, maybe we can visit his company in May and introduce the advance performance of the BitShares platform to him.

 
Host:  What if the Americans buy this BDR directly on the BitShares wallet?
Prince:  That would have nothing to do with us, DACX only does the crow-funding part. Investors decide if they want to trade in the BitShares market or not, we won’t be able to intervene and it has nothing to do with us.

host:  Prince, do you think this kind of crow-funding is good?
Prince:  Of course, you can spend 1 CNY to buy American Stocks and it’s totally based on transparency. Not only for us, the Venture Capital who invested in us thinks this model has potential otherwise they wouldn’t be investing millions of dollars in us to operate this project.  I’ve been involved in the financial world for quite some time in order to shorten the chain of financing and bring more fragmentized capital to participate in crowd-funding.  This is the direction of the future, just like “YuEBao”(a successful fund financed by millions of ordinary people with petty cash which now worth billions of dollars ).  It embraced the spirit of the fair, open and decentralized Internet.  So for that I’m very confident.  People around me showed interest in investing in Buffett’s stock, but it’s hard for them to buy from Newyork and the other markets are not open enough.  I think this really solves the need of many people in the real world.  If you have something that could solve problem for the people then the market will tell you that this “something” is badly needed.

host: Thanks for your time.
Prince:  Our project will be launching in early March, DACx will use the BitShares blockchain to build a crowd-funding platform with total transparency.  Crowd-funding for American Stocks is just one of our projects and we’ll have more on the way including crowd-funding for domain names, parking slots, individuals and companies.  Using BitShares technology we can easily digitalize things from reality and provide an easy exiting strategy for the investors. This is awesome. Thank you everybody .


The original source is here : http://www.bts.hk/buffett-stock-crowdfunding-in-bitshares-dacx.html

There are a lot more in the article , but I'm too tired to translate it all , just pick something interesting at this point .
This is only part of the interview , many contents are waiting for further translation . 
I want to thank Matt608 for editing .
Title: Re: Interview : Using BitShares to crow-funding for Buffett Stock
Post by: Xeldal on March 05, 2015, 04:21:03 pm
 +5%

This is a great use of BitShares.  Glad to see it.

BRK-A shares are quite expensive, but the BRK-B shares are currently only $145.61

I'm not sure Bufftet would particularly care for this.  He's specifically avoided splitting his stock to restrict ownership to a certain type of investor.

the B shares were a result of Mutual Funds that would sell slices of the stock through "unit trusts"  and tag on extra fees etc.   The B shares eliminated that.

Quote from Warren Buffet:
Quote
"They would be sold by brokers working for big commissions, would impose other burdensome costs on their shareholders, and would be marketed en masse to unsophisticated buyers, apt to be seduced by our past record and beguiled by the publicity Berkshire and I have received in recent years. The sure outcome: a multitude of investors destined to be disappointed. Through our creation of the B stock – a low-denomination product far superior to Berkshire-only trusts – we hope to make the clones unmerchandisable."
Title: Re: Interview : Using BitShares to crowd-funding for Buffett Stock
Post by: matt608 on March 05, 2015, 05:01:56 pm
This is a great idea and a major project.  Excited to see what comes of it.
Title: Re: Interview : Using BitShares to crowd-funding for Buffett Stock
Post by: zerosum on March 05, 2015, 05:23:42 pm
Great!

I do not know if it is bad translation or indeed the projects goal but:

Crowd-funded bitAsset is a scam that  beats NuBits 10x as far as Ponzi's go.

Hopefully someone will add the much needed details about this project to clear the picture.
Title: Re: Interview : Using BitShares to crowd-funding for Buffett Stock
Post by: Riverhead on March 05, 2015, 05:27:50 pm

This is pretty powerful stuff. Buffet's concerns about fragmentation seemed to be mostly due to the overhead, or expense ratio, the trusts charged for their service. BitShares doesn't require such large overhead. The last thing Buffet said in his BRK-B release was that he hoped the trusts would become unmerchandisable. To me this implies a free market approach versus violence.

 +5% +5% +5%
Title: Re: Interview : Using BitShares to crowd-funding for Buffett Stock
Post by: btswildpig on March 05, 2015, 05:28:46 pm
Great!

I do not know if it is bad translation or indeed the projects goal but:

Crowd-funded bitAsset is a scam that  beats NuBits 10x as far as Ponzi's go.

Hopefully someone will add the much needed details about this project to clear the picture.

 BitAsset  is what it said on the original interview , I believe the correct term is UIA (user issue asset) , because pegged assets is call "MPA" asset in China , so mixed up a little .

Already edited in the translation as "user issued asset" , thanks for the point .
Title: Re: Interview : Using BitShares to crowd-funding for Buffett Stock
Post by: Riverhead on March 05, 2015, 05:28:55 pm
Crowd-funded bitAsset is a scam that  beats NuBits 10x as far as Ponzi's go.

How is it different from any other mutual fund?
Title: Re: Interview : Using BitShares to crowd-funding for Buffett Stock
Post by: zerosum on March 05, 2015, 05:34:33 pm
Crowd-funded bitAsset is a scam that  beats NuBits 10x as far as Ponzi's go.

How is it different from any other mutual fund?

I do not get the question? It is -How is a bitAsset different from mutual fund?   [edit] OK this was fixed to UIA



Now. They do not explain anything - how it is gonna work or what they gonna do actually with the money - buy the underling asset? If not what. Right now this interview is a BS generally saying:

"We gonna do great! Split it this share BTK,  and use this shiny new thing - BTS."
Title: Re: Interview : Using BitShares to crowd-funding for Buffett Stock
Post by: Riverhead on March 05, 2015, 05:39:14 pm
Crowd-funded bitAsset is a scam that  beats NuBits 10x as far as Ponzi's go.

How is it different from any other mutual fund?

I do not get the question? It is -How is a bitAsset different from mutual fund?

I'm trying to understand how it's a Ponzi scheme. If I understand correctly that is where returns are bloated with new investor funds to make it appear the fund is doing much better than it is.

The way I understand this to work is if StockA is trading at $1000/share and there are 10,000 DACXSTOCKA then each DACXSTOCKA would sell for $0.10 and be pegged to the price of StockA the same way MPA's work.

That is the idea, isn't it? Or have I misunderstood what DACx is doing here?
Title: Re: Interview : Using BitShares to crowd-funding for Buffett Stock
Post by: btswildpig on March 05, 2015, 05:42:41 pm
Crowd-funded bitAsset is a scam that  beats NuBits 10x as far as Ponzi's go.

How is it different from any other mutual fund?

I do not get the question? It is -How is a bitAsset different from mutual fund?

I'm trying to understand how it's a Ponzi scheme. If I understand correctly that is where returns are bloated with new investor funds to make it appear the fund is doing much better than it is.

The way I understand this to work is if StockA is trading at $1000/share and there are 10,000 DACXSTOCKA then each DACXSTOCKA would sell for $0.10 and be pegged to the price of StockA the same way MPA's work.

That is the idea, isn't it? Or have I misunderstood what DACx is doing here?

The user issued asset is a token for ownership of an actual stock purchased by the project   . The market decide its price , not pegged though .
If everyone wants to sell the token at a low price , then whoever buy it all , can claim all the ownership of this actual stock and ask DACx to sell it for them on the real stock exchange .

It has nothing to do with any pegging system .
Title: Re: Interview : Using BitShares to crowd-funding for Buffett Stock
Post by: Riverhead on March 05, 2015, 05:47:28 pm

The user issued asset is a token for ownership of an actual stock purchased by the project   . The market decide its price , not pegged though .
If everyone wants to sell the token at a low price , then whoever buy it all , can claim all the ownership of this actual stock and ask DACx to sell it for them on the real stock exchange .

It has nothing to do with any pegging system .

I see. While it has nothing to do with the pegging system it may end up functioning in the same way. For most people they'll never own a full share of BRK but they'll buy/sell their fragments based on the price of the actual security; effectively pegging it to some fraction of the cost based on fragmentation.
Title: Re: Interview : Using BitShares to crowd-funding for Buffett Stock
Post by: zerosum on March 05, 2015, 05:55:50 pm
How you gonna prove ownership of the underlying asset (leaving aside why you did not include info that this IOU, in your initial explanation)?

Why/How is this better than  bitAsset bitBTK?

What is so 'great' about this random IOU?
Title: Re: Interview : Using BitShares to crowd-funding for Buffett Stock
Post by: btswildpig on March 05, 2015, 06:04:39 pm

How you gonna prove ownership of the underlying asset?

Why/How is this better than  bitAsset bitBTK?

What is so 'great' about this random IOU?

waiting for further translation of the rest of the interview . Answered in there .
Part of that is " The ownership will be proved by legal documents of the actual stock .  "

BTA is BTA , IOU is IOU , if you have BTA to perform such operation , and trust it'll peg forever , go for it .

IOU can still be honored even if the peg broke as long as you trust the ones who issued the IOU . But BTA rely on the pegging system works forever .

Of course IOU is based on trust . If you don't trust IOU , then buy BTA  .

This IOU isn't great . It just solves actual problem for some actual user outside of crypto space .

Side note : there are 30,0000 people in China who are trading American Stocks through all kinds of channels . 

Just like every IOU does . 
Title: Re: Interview : Using BitShares to crowd-funding for Buffett Stock
Post by: Riverhead on March 05, 2015, 06:06:03 pm
1) How you gonna prove ownership of the underlying asset (leaving aside why you did not include info that this IOU, in your initial explanation)?

2) Why/How is this better than  bitAsset bitBTK?

3) What is so 'great' about this random IOU?

Fair questions. While I have no skin in the game here is my take on it:

1) This is a Trust fund. DACx would be a registered company with all the usual things that go along with that. A Trust fund is either going to run off with the money or not. Not sure how to prove they have the underlying asset. How do brokerage houses handle this?

2) The project has two advantages over bitBTK a) Partial ownership of a larger asset vs bitBRK which is atomic. This is just wrong (thanks Tonyk2) b) It can be marketed and sold to the non-crypto masses while using the BitShares blockchain as a public ledger.

3) See (2).
Title: Re: Interview : Using BitShares to crowd-funding for Buffett Stock
Post by: muse-umum on March 05, 2015, 06:26:01 pm
Something like this:

A buys in 1 share of NYSE:BRK.A ( $218,800 ), then hands up his account to DACX to prove that he actually owns that share.
A signs legal contracts with DACX promising he will never sell that share out (Cash deposits / collaterals are needed IMO). 
DACX creats UIA BDR.BRK on BTS and issues 100,000 shares. So DACX can sell each BDR.BRK at price $2.188. Then investors are able to trade BDR.BRK on BTS against MPA or BTS.

I really like this project.

Moreover, this interview took place on the 'Sound of Blockchain' hangout several weeks ago. The hangout is a weekly get-together funded and organized by market.cn.group101. 
 
Title: Re: Interview : Using BitShares to crowd-funding for Buffett Stock
Post by: Ander on March 05, 2015, 07:30:32 pm
Its definitely not a ponzi scheme or anything like that.

It does rely on the trust of the centralized party who uses the funds to purchase the BRK stock and holds them.  Because this stock cannot be divided into pieces to be claimed by the small investors who buy pieces of them, it has to remain with some central source which must be trusted.

Aside from that flaw, its a good way for small investors outside of the US to get exposure to berkshire stock.
Title: Re: Interview : Using BitShares to crowd-funding for Buffett Stock
Post by: zerosum on March 05, 2015, 07:41:43 pm
If the best that the Chinese marketing and PR (head/spokesman) can come up with is an UIA like this....we are in deep deep shit.
(As the western side of that department is a sink hole at best, as we all must know by now)
Title: Re: Interview : Using BitShares to crowd-funding for Buffett Stock
Post by: Riverhead on March 05, 2015, 07:51:43 pm

If the best that the Chinese marketing and PR can come up with is an UIA like this....we are in deep deep shit.

I believe this is a business idea funded independently. While it may not meet your expectations as of a great idea I suspect it's one of many uses for Bitshares that we'll see.

So they have demonstrated they have a lot of VC backing. What would you do with that sort of money? For liquidity bots is the best I've come up with so far which to be honest isn't that creative.
Title: Re: Interview : Using BitShares to crowd-funding for Buffett Stock
Post by: Gentso1 on March 05, 2015, 08:00:53 pm
If the best that the Chinese marketing and PR (head/spokesman) can come up with is an UIA like this....we are in deep deep shit.
(As the western side of that department is a sink hole at best, as we all must know by now)

It may be worth looking into WHO is backing Dacx ;D
Title: Re: Interview : Using BitShares to crowd-funding for Buffett Stock
Post by: muse-umum on March 05, 2015, 08:06:23 pm
If the best that the Chinese marketing and PR (head/spokesman) can come up with is an UIA like this....we are in deep deep shit.
(As the western side of that department is a sink hole at best, as we all must know by now)

It's far more than just an UIA.
Title: Re: Interview : Using BitShares to crowd-funding for Buffett Stock
Post by: zerosum on March 05, 2015, 08:12:02 pm
If the best that the Chinese marketing and PR (head/spokesman) can come up with is an UIA like this....we are in deep deep shit.
(As the western side of that department is a sink hole at best, as we all must know by now)

It may be worth looking into WHO is backing Dacx ;D

WHO? - I thought the spokesperson's venue? No?



If the best that the Chinese marketing and PR can come up with is an UIA like this....we are in deep deep shit.

I believe this is a business idea funded independently. While it may not meet your expectations as of a great idea I suspect it's one of many uses for Bitshares that we'll see.

So they have demonstrated they have a lot of VC backing. What would you do with that sort of money? For liquidity bots is the best I've come up with so far which to be honest isn't that creative.

The liquidity bots might not be the most creative of all creative ideas. (although the transformation in the future to a DAC is pretty ambitious/innovative in its own right). But it provides  benefits not only for its owners but for the BTS ecosystem as a whole by providing very needed service; plus compared to this project - cryptohedge does not collect a ton of money from the crypto space (BTS) to just through those funds away into buying a share(s) in a publicly traded company.


If the best that the Chinese marketing and PR (head/spokesman) can come up with is an UIA like this....we are in deep deep shit.
(As the western side of that department is a sink hole at best, as we all must know by now)

It's far more than just an UIA.
Like how?
Title: Re: Interview : Using BitShares to crowd-funding for Buffett Stock
Post by: eagleeye on March 06, 2015, 01:33:32 am
Just keep your fees as low as ETFs and you will have a cost competitive advantage.
Title: Re: Interview : Using BitShares to crowd-funding for Buffett Stock
Post by: btswildpig on March 06, 2015, 03:18:46 am
UIA= user issued asset .

What does it do ?

Well , if I hold some UIA and many people want to buy it , and I direct them to buy it on BitShares exchange .

How can he buy it ?  Of course , buy some BitUSD or BitCNY and move to the BitShares inner exchange . Then increase the demand of Market Pegged Assets .
For those people who don't even know BitShares or even computer , he can still ask the broker to buy it for him , while the broker use Market Pegged Assets to trade in BitShares exchange . That brings volume to Market Peggeg Assets too .

If those people who wants to buy it are different than the ones who already knew BitShares , then it means draw attention from outside the crypto space into BitShares .

UIA is just a tool , what it does depends on the ones who issue it .
Title: Re: Interview : Using BitShares to crowd-funding for Buffett Stock
Post by: joele on March 06, 2015, 05:01:04 am
+5%
In the future we can buy all kind of stocks from different countries using bitshares.
Title: Re: Interview : Using BitShares to crowd-funding for Buffett Stock
Post by: emailtooaj on March 06, 2015, 05:01:50 am
 +5% +5%

This truly is a great use of the BTS blockchain!
These types of ideas and projects are what will help set BTS apart from others. Helping to gain massive future growth.
Find a "real world" need and use BTS for the creative solution.
If the Chinese people have this much pent up demand for purchasing "American Stocks" and don't have an easy outlet to acquire them...other than trying to purchase through a "black market" or "loan shark" style type system, then this idea could very well explode our blockchain!!!!
If this idea gains enough traction it could feasibly get many big players into the game. Introducing a roll over effect from the real US stock exchange onto our blockchain.
I'll go deeper with my wild thoughts!
So DACx buys this BRK-A stock (or have a verified, well named 3rd party secure it for DACx), they break that one stock into 100,000 UIA shares.
And let's say those 100,000 sell like gang busters, ushering in...let's say 50 new people into the BitShares eco-system. NOW they go buy 2 more BRK-A shares and  repeat this same process....  once again phase two sells out just as quickly because phase one was such a BIG hit, it left many people behind who were still eager to get their money  into the next BRK-A purchasing phase... and on.. and on...
Not only will this create new users but will also help create Buzz towards BitShares (and of course DACx) in the Chinese community.
So now the word is out, people are trying to get their piece of the action they are literally  knocking down DACx doors trying to get in.
So now DACx takes this idea further and expands into other stock options, like Apple, Tesla, etc. Potentially you're now looking at DACx maybe adding $1-2 Million dollars into the BTS system within months (?)!!!

Let's go further down the road, a few months later and ponder this potential scenario...

DACx has just increased  BTS value (due to user increase of software downloads, now buying BTS along side the DACx UIA). China media buzz is trending upwards with this new "stock" buying opportunity. News gets over to the west and a writer from the US Today gets wind of it and features an article of this new China investment trend.
The next day George, who reads the US Today on a daily basis to help him find new, upcoming investment trends for his job, reads the US Today article while saying to himself  "Damn, I need to show this to the boss!"

After battling grueling morning traffic, George finally gets to work a few hours later, grabs his coffee along with the newspaper and heads over to the bosses office. He walks in and the conversation could possibly go something like this...

George- "Good Morning boss! Man, that traffic was hell today wasn't it LOL."

Boss- "LOL yes it was!  I didn't even turn on news radio this morning. Didn't want to stress myself out anymore haha. So whats new!?"

George- "Not to much but I did come across an interesting article this morning in the US Today and I think you'd be very interested in it. It's about this group in China called DACx that are buying up American Stocks and creating a type of hybrid mutual fund, using this thing called a UIA or User Issued Asset. These are allowing the Chinese to purchase small blocks of a particular stock that DACx has acquired from the NY Stock Exchange and selling them to local investors through a program called BitShares. I think I've looked into BitShares once before, but it was so damn confusing and I had to put it aside, I'm now just hearing about it again. But basically BitShares is a decentralized Exchange floating around in the cloud for anyone to use. I'll tell you more what I know about BitShares in a minute, but back to this company DACx.  They've taken this BRK-A stock and created 100,000 UIA's to sell to people in China who can't typically afford to purchase one whole stock; let alone buy any American Stocks period! They're doing this to a number of other American company stocks also. It was so successful that they've sold $5 Million dollars worth of UIA's within 6 months and are projected to increase this volume by 200+% by years end.
Listen boss, I know you're always trying to find other investment avenues and I think this is something we really need to look deeper into. It's a very viable option!!"

****After George had spent some time explaining to the boss his knowledge of BitShares and how it works, the conversation then could take a wild turn...

Boss - "George you're right. If something like this is taking off so quickly in China then obviously we need to look into this further. I just can't believe the structure of this whole operation and how simple it really is. Here's an opportunity to not only expand our current holdings, but my god, 10 second transaction times; less than 1% fees to buy or sell any asset; no more brokerage houses that people will need to go through; stocks that can be bought on a global scale at any time 24/7.   We really need to get a team together...QUICKLY and figure out how to take advantage of this new tech. Damn George, just think... if we could move our company stocks onto this BitShares blockchain, we could literally double our selling exposure and in-turn double our stock value; and get off this damn "good ole boy" corrupted NY Stock Exchange!!

George- "You see Boss... That's why you make the big bucks!! Always looking three steps forward.  I'll start this new project immediately!"


LOL, so... now that you've read my crazy story.

This is why I give DACx a  +5% +5% for taking on this initiative. You just never know what could happen. This could very well be the first step to get the established "real world" companies to start transitioning on over to the blockchain.

If you think about it... who's this potential "Boss" in this scenario... that you've painfully had to read? (maybe I can get this story crypto-prometheus'fied lol)
Is it Warren Buffet?
Is it Bill Gates?
Is it Tim Cook?
Is it <Insert Name Here>?

Peace!



 
Title: Re: Interview : Using BitShares to crowd-funding for Buffett Stock
Post by: btswildpig on March 06, 2015, 05:58:18 am
If BitAsset buyers are told which BitAssets contain counterparty risk, then what is the downside?


If you sell IOU and gets BTA , then your risk lies the BTA you hold , same as you hold BitUSD . If you don't want to hold BTA , then the organization would exchange fiat for you through exchanges .

If you pay BitUSD to buy IOU , then your risk lies on the IOU you hold , essentially base on trusting  the organization which issued this IOU in the first place .

So , in the process , BTA usage increases .
Title: Re: Interview : Using BitShares to crowd-funding for Buffett Stock
Post by: Shentist on March 06, 2015, 06:46:03 am
but, why not just create a pegged asset and track the value?

it will give me the same without counterparty risk and the selling pressure you create with this kind of UIA is 0 or better you create buying pressure.
Title: Re: Interview : Using BitShares to crowd-funding for Buffett Stock
Post by: btswildpig on March 06, 2015, 06:53:58 am
but, why not just create a pegged asset and track the value?

it will give me the same without counterparty risk and the selling pressure you create with this kind of UIA is 0 or better you create buying pressure.

You can still build one and compete on the market .
Just like BitCNY is good , but Okcoin-CNY is good too .
Title: Re: Interview : Using BitShares to crowd-funding for Buffett Stock
Post by: Shentist on March 06, 2015, 06:56:16 am
but, why not just create a pegged asset and track the value?

it will give me the same without counterparty risk and the selling pressure you create with this kind of UIA is 0 or better you create buying pressure.

You can still build one and compete on the market .
Just like BitCNY is good , but Okcoin-CNY is good too .

ok, makes sense :D
Title: Re: Interview : Using BitShares to crowd-funding for Buffett Stock
Post by: btswildpig on March 06, 2015, 07:16:41 am
downside ?

I don't think it would be any downside .

Of course , is bring too much attention on BitShares has some down side ? Just like what Satoshi feared for Bitcoin ?