Question: Bitshares and Real Coinage and Multidimensional Assets

[zerosum]

Welcome to these forums kosh!

I will limit myself to the point's of your post that are most interesting to me personally. Hopefully someone will have something to say regarding the rest of it.

Do-It-Yourself Crypto-RITs

This one is a virtual asset. Has anyone played with the idea of creating a "coin" for their property on 123 MAIN ST and treating it at least sort of like a RIT. Not withstanding legal implications for doing so, would there be any point? Would that be a market asset (using discovery to estimate the market value of the property) or a user created asset only? Can an asset be a hybrid discovered and user issued assets?

If you think these are dumb questions all I ask is that you be constructive in your response.

- I do not know about market peg asset for '123 MAIN ST' , but market pegged asset for "[put your property type] in NY,NY or  (for zip codes 10012, 10013, 10014) " are possible and probably useful and interesting. Not that I envision them in the immediate future, but for sure they are possible with the BTS system.
-on hybrid assets - one (or two) forum member here have very good ideas regarding such hybrids - but at the end of the day they are more or less 'user defined market-pegged assets'. Very cool possibilities on that front (in the future) as well.

[kosh]

Hello,

I am brand new to bitshares and wanted toss out some questions and ideas that are forming as I get acclimated to it.

I understand there are market issued assets that are pegged to the value of real world things. Then, there are community issued assets that are issued by individuals or groups for various reasons. They're effectively "community coins," "cause coins," and so forth.

Market Issued Asset Question

So, my best understanding is that a group of 50-odd delegates create authoritative ticket feeds and pipe them into the network (via python script?) and this is the minimum threshold for viability of any asset. The discoverable data forms the basis of the price-point and people buy-in/short to create the new pegged asset coins from bitshares native coins. Please correct me if I'm wrong.

Given that, what about creating "numismatic" market issued assets. So, you could peg market assets to the value of (for example) mercury dimes in various conditions. Would that be worthwhile, silly, or somehow both?

"Resurrected" asset types

Playing with that idea and running with it a little further. Since many ancient coinages have generally agreed upon precious metal content "ressurecting" a virtual coin with the same value as the metal content would be theoretically possible. It would simply be a matter of discovering the price of the metal(s) contained in them and doing math. For example, the Denarius originally had 0.105 ozt silver content. Could an asset be created that was equal to 1 ozt silver * 0.105? Is this doable? Any comments on the utility of it?

Do-It-Yourself Crypto-RITs

This one is a virtual asset. Has anyone played with the idea of creating a "coin" for their property on 123 MAIN ST and treating it at least sort of like a RIT. Not withstanding legal implications for doing so, would there be any point? Would that be a market asset (using discovery to estimate the market value of the property) or a user created asset only? Can an asset be a hybrid discovered and user issued assets?

If you think these are dumb questions all I ask is that you be constructive in your response.