Will this work on a Raspberry Pi 2?

Quote from: EstefanTT on March 21, 2016, 05:12:28 pm

Home page with BIT20 Vs FIAT10 : http://www.bitsharesfcx.com/bit20/homepage_fr.php
Individual crypto Vs the basket BIT20 : http://www.bitsharesfcx.com/bit20/graph_fr_4.php

broken link, scam feelings

hehe that was a temporary website he will be moving it to a new domain... the whole idea of this "smartcoin" is that is really hard to get scam, its decentralized and the price responds to a public feed...

Quote from: hcf27 on March 21, 2016, 09:37:17 pm

Oh yeah, something else:

I also think a ETF Share token should be issued so that contributors get some sort of reward, @EstefanTT mentioned an idea like this on a previous thread and I thought it was quite incentive and a perfect way to do some crowdfunding too.

I mentioned it in the other thread. I have been thinking about creating a UIA that would represent 100% of the benefits coming from the 0.1% cut taking on the trades of the index.
That would allow us to reward easily anyone helping in the project.
I will probably create the UIA when I create the smartcoin and a buyback or dividend system would be use.

Quote from: tonyk on March 21, 2016, 05:56:52 pm

First + 1 + 1 + 1  for going ahead with this.


 I definitely think you should use bitBTC as collateral. This also means btc should not be part of the index. [Using bitUSD is the only thing better but you will just not find people (in crypto space) believing that all/top crypto will go down against fiat, so no shorters..]

Why bitBTC :
- it is easy to bet on BTC as it is- you just hold btc. And 99.9% of the people already hold btc before even coming into BTS.
- you will have much more people interested in betting on top 20 cryptos against BTC (as opposed to against BTS)
- for the shorters - being short the index against BTS as easy as pie - you short bitBTC to yourself and use the bitBTC to short the bitTop20

I am absolutely positive going with BTS as collateral will be a big mistake. Drop me PM if you do not understand/want me to expand on the reasoning above.

I would prefer to create the debate in this thread than move it in a private channel.

Don't you think that we lack of liquidity in the BitShares BTC market to really kick off the Bit20 ?  Maybe if we had already the sidechain in place ... I don't want to wait we reach high liquidity in all our major smartcoins market to see grow the BIT20 but rather be able to start creating liquidity since the very first day.

I thought BTS was a good choice but the debate is pretty much alive !!

BTS has higher volatility than BTC, so more oportunities to make a profit will arise for buyers, sellers and shorters as the price spikes up and down.
That's also basically why I though BitUSD wouldn't be a great choice, I don't see anyone in his right mind shorting BIT20 Vs BitUSD.

Hello,

I am glad this project is going forward, count with me for anything you need, as I have said in several occasions I think this is a great idea.

I think collateral should be BTS, its just way simpler, most people dont even understand what BitBTC is... its like BTC but then its not... so if we used BitBTC we would be like shorting twice, you short bts to get bitBTC and then you short BitBTC to get Bit20, its just makes things really complicated for newbies IMO.

I love the name bit20 and the logo you have made, since we cant have number I would say  bitTWENTY so we can keep the logo with the numbers.

I agree that we should create the token and then start doing some marketing to get liquidity, I am sure people would love it.


 

Hello @xeroc .. I think we should vote to refund @jonnybitcoin $2.8k for the social media accounts... these channels should then be handed over to the committe.

The ramifications quickly get complex.

On one hand, it would make more sense to trade BitFiat against this ETF in the markets.

On the other hand, there is no good liquidity in any of the Smartcoins right now... so whatever we do, this would be dead in the water.. what good is it if nobody can get hold of some USD to gamble?


One thing is for sure ... if this is traded against BTS / backed by BTS, there'll be instant liquidity ... and that may be all we need to make this one successful.

edit: Well, instant liquidity at least on the BTS side.. the CRYPTOTEN would still have to be shorted.

If the asset is backed by BTS and its as successful as I think it will be then I would short the hell out of it because it would mean that the BTS price would sky rocket!

When I will have a good idea of the way to do this, I'll create an offical thread on bts.talk for anyone who is willing to give us feedbacks and participate.

As I intent to to fix a % on trades (around 0.1% probably), there will be potential incomes coming from the creation, commercialisation and liquidity of this index and an incentive for anyone wanting to participe in exchanges for the shares of future revenues.
I was thinking about creating a UIA with limited supply that would represent 100% of the revenue generated by the 0.1% on the trades of the Bit20 index. That would allow us to reward anybody helping with this project with an actual % of all trades made on this Smartcoin untill the end of time. When liquidity and trades would kick off, we could use a buy back or dividends system.

I like the idea, once the smartcoin is created I would be more than happy to buy some shares and also collaborate with the marketing.

I am very excited about the potential of this project.

I do think that Bts should be the collateral used tho, there is just not enough liquidity on the bitusd market to be held as collateral.