BitShares Forum
Main => General Discussion => Topic started by: Ben Mason on August 23, 2015, 10:10:04 am
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I'm not sure if this would work but here goes....
Could we launch a Bitshares community owned retail website where ideas and the products come from the community and a percentage of profits are awarded to everyone by burning the equivalent value in BTS for every trade?
For example, I've been trying to come up with Bitshares branded T-shirts....
Front - It's good to share (with the b logo at the left breast)
Back - Your bits
Let's say this t-shirt was a hit and sold in the Bitshares retail outlet, initially I might source, manufacture and ship the product but eventually, it might be worth having a Bitshares retail co-ordination worker company that handles all of that and benefits from economies of scale etc. The products would have to meet quality standards to qualify.
I'd love to hear your thoughts!
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+5% excellent idea - I'd support it & buy the T-shirt!
We already have at least 1 retail site (http://cryptofresh.com/) (accepts Bit Assets) in the community provided by @roadscape and his headline product is - yes, a T-shirt. Albeit without your v.witty wording. Maybe a candidate for a worker company?
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Ha! Wonderful.....I'll hurry up and get some printed then :D
I love cryptofresh and I imagine they may be well placed to grow their catalogue but I think it is a private company.....nothing to stop them burning profits and taking more ideas from the community and helping to co-ordinate though!
What are your thoughts Roadscape?
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Lol, I was seriously just looking into this idea yesterday
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Fantastic! What did you come up with?
I seriously think there's scope to create a virtuous circle of companies built by the Bitshares community (or not necessarily) but all burning BTS and benefiting from the network/community plus benefiting by holding BTS too. I appreciate that most companies may prefer to hold a bitasset until things take off.
I'm going to talk with my vapeemporium partners to see if we can burn a percentage of BTS/Bitasset sales once 2.0 is launched and we can plug into the Bitshares network.
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Tbh I didn't get to deep into it just yet, but this was my line of thinking... To set up a website that is a "BTS" store to where people can pick pre-made Bitshares designs and logos along with the item they want... Place the order and then have that order get submitted to a custom merchant (like Zaazle or equivalent) who would then make the item and drop ship the custom BTS product. The profit of that sale could then go either way.... Convert to BTS and burn 100%, do a 50% burn and 50% hold profit or some combination there of?!
This way you could sell shirts, hoodies, jackets, mugs, stationary, etc etc.
Sent from my iPhone using Tapatalk
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Tbh I didn't get to deep into it just yet, but this was my line of thinking... To set up a website that is a "BTS" store to where people can pick pre-made Bitshares designs and logos along with the item they want... Place the order and then have that order get submitted to a custom merchant (like Zaazle or equivalent) who would then make the item and drop ship the custom BTS product. The profit of that sale could then go either way.... Convert to BTS and burn 100%, do a 50% burn and 50% hold profit or some combination there of?!
This way you could sell shirts, hoodies, jackets, mugs, stationary, etc etc.
Sent from my iPhone using Tapatalk
I think that's brilliant and definitely worth pursuing further!
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Another option worth considering that might get more traction with more businesses (the folks doing the work that everyone wants to benefit from) is asking them to lock up their funds for a period of time on the blockchain rather than permanently burning them.
What if they used those funds to make collateralized bonds or other assets available? What if others bought those bonds for the same noble reasons?
It mostly accomplishes the same thing in the near term, but may be an easier pill for those doing the work to swallow, and could have other beneficial side effects.
Burning alone doesn't do anything for liquidity.
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Another option worth considering that might get more traction with more businesses (the folks doing the work that everyone wants to benefit from) is asking them to lock up their funds for a period of time on the blockchain rather than permanently burning them.
What if they used those funds to make collateralized bonds or other assets available? What if others bought those bonds for the same noble reasons?
It mostly accomplishes the same thing in the near term, but may be an easier pill for those doing the work to swallow, and could have other beneficial side effects.
Burning alone doesn't do anything for liquidity.
That's a really good point, thanks Stan. That really would take these possibilities to a new level!
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When it comes to collateralized bonds, will it be necessary for people to lock up coins for noble reasons? I thought the collateralized bond market would incentivize people to lock up coins in the process of making loans.
Another option worth considering that might get more traction with more businesses (the folks doing the work that everyone wants to benefit from) is asking them to lock up their funds for a period of time on the blockchain rather than permanently burning them.
What if they used those funds to make collateralized bonds or other assets available? What if others bought those bonds for the same noble reasons?
It mostly accomplishes the same thing in the near term, but may be an easier pill for those doing the work to swallow, and could have other beneficial side effects.
Burning alone doesn't do anything for liquidity.
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When it comes to collateralized bonds, will it be necessary for people to lock up coins for noble reasons? I thought the collateralized bond market would incentivize people to lock up coins in the process of making loans.
Another option worth considering that might get more traction with more businesses (the folks doing the work that everyone wants to benefit from) is asking them to lock up their funds for a period of time on the blockchain rather than permanently burning them.
What if they used those funds to make collateralized bonds or other assets available? What if others bought those bonds for the same noble reasons?
It mostly accomplishes the same thing in the near term, but may be an easier pill for those doing the work to swallow, and could have other beneficial side effects.
Burning alone doesn't do anything for liquidity.
Yeah, that point was a bit too subtle for text alone.
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I agree, burning is idiotic. Far better to reward people who use their money for some purpose that adds value to the ecosystem.