Author Topic: BTC to BitBTC  (Read 5711 times)

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Offline 21xhipster

Recently I have a talk with @JonnyBitcoin and he recommended us to issue tokens of this fund https://cyber.fund/@satoshi_fund on BitShares.

We considering now creation of kinda ETF (floating capital so you can enter and redeem any time, but tradable) using assets under our management (that is about $200k if we merge all of them in one big).

We've done a lot of customer development and understand that for kind of clients we are working with (we have already queue of investors who wait than we will be able to start the thing)  simplicity is what really matter. This guys are scary from Bitcoin. We need to education them using it. And if they hear that they need to use one more currency in order to buy our product they stuck.

We want to build all processes based on bitcoin valuation as well as enter/exit operations. To be honest tradability is not the most important thing for us as well as for clients (all this guys think 24 months+). But we understand that this could be a really cool option. So now based on our requirements we can use Bitcoin colored protocols (Counterparty, Omni, Open Assets, Colored Coins) or BitShares or Ethereum. I've had really hot discussion with my partners which one we should to use. We clearly understand limitations of Bitcoin. Ethereum is two early and we want now. As result we decide to test BitShares in one specific use case. What if we explain BitShares Wallet (which can be hosted on our site) as exchange and not a currency. We decide to check how things can work. As result I was wondering that now there is only two options for us:
- Deposit BTC into BTS which can be cheap but not convenient neither for us, neither for investors as we should create market in BTS.
- Deposit in IOUs (Meta or Open) which is 2-3% instant cut and one more step for our clients which need to be additionally explained.

Both are not acceptable for us.
Is there any ideas how we can fix that for our needs?
What we need is possibility to deposit bitcoins into BitBTC with not more than 0.1%-0.2% cut as we aim to attract investments in terms of millions not thousands in one-two year horizon.

Update: Typofix
« Last Edit: March 23, 2016, 06:31:04 am by 21xhipster »
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