Quote from: mf-tzo on November 27, 2015, 09:11:51 pm

@onceuponatime you are right about Brownies. Maybe it was a bad example...

What about obits, or Metafees? Are they considered securities or just "tokens of appreciation"? Aren't these serve the same thing as the UIA about stealth transfers? Raise funds and distribute earnings from fees?

Anyway, I may got all these wrong..I am sure you guys you will figure this out how to do it but please let's do this as soon as possible because without stealth transfers we will never see liquidity on the DEX..

I'm trying to find out how Ronny is issuing OBITS and selling them for participation in future income streams without being fingered as issuing a security. Same with the ShareBits. If anyone can tell me how they expect  to not come under the scrutiny of various regulatory authorities, please let me know.

What we have done so far:

- BitUSD and BitCNY integration on Poloniex
- BitCNY integration on Bittrex to come soon

We're all familiar with counterparty free
Market Pegged Assets (MPA)
and
issuer backed
User Issued Assets (UIA).

Theoretically, there could be a third type: 
Fee Backed Assets (FBA).

A developer installs a new function that charges fees for its service and pays those fees to holders of a UIA she creates for that purpose.

She naturally starts out as the owner of those revenue producing assets.

She is free to sell them since each one is a revenue generating counterparty free asset backed solely by the blockchain.

Since they have no counterparty, they are not a security.  They are simply capital equipment, like selling a mining machine.

This new kind of digital asset trades like any of the others but has fascinating new properties.

There could be a new asset for every new revenue generating feature in the whole ecosystem.  Developers recoup their costs by selling (or pre-selling) these revenue generating software devices (or keeping them to earn the revenue they produce.)

Thoughts?

Quote from: onceuponatime on November 26, 2015, 01:57:37 am

Could you flesh out a little how you think that would be done?

Because it requires new code, in particular this first instance of it.   It would just be a stipulation in a worker proposal to issue the asset.  Its a new kind of asset; I don't know what to call it; or its an [enhanced]UIA.   BM seemed to imply he's got an idea about this already.

I suppose there could be dynamic parameters and control given to the committee or perhaps something new with Vote functionality.  It might have its own committee of share holders.  IDK.  Or it might have no adjustable parts just be set and forget.   

This one might have a programmatic buy back at some rate.  Or maintains a bid and issues dividends.   
This would be easy to dial-in to a particular profit level, or an eternal royalty if you used dividends.

The pool of collected fees would just be added to the bid.

What else does it really need to do?

Have at it and post your guess in this thread for a chance to win something on 12/25!

I'll also throw in a FISTBUMP for everyone that post in the thread, payable on 12/25.

And remember, FISTBUMP is the #1 UIA Social Currency on the BitShares DEX for a reason ...


You said, "game on" ... so it shall be!