Prism

[Myshadow]

Anyone know what kind of money it'll take to build?

[bitmarket]

I think this would be a cool feature for Bitshares, and it would tie in nicely with the Bitshares DEX and Bitshares' overall "business plan" of offering financial services.  I don't think that it would be something that would be too hard to implement too:

Create a new smartcoin asset class called "prisms" and allow them to be created much cheaper than normal smartcoins/UIAs.

Since the price feeds already exist, it would be easy to get the value of each prism without having to publish a price feed for each and every random prism that was created. For instance, the price feed for Bitcoin, Gold, and USD could be used as-is in an infinite amount of prisms as long as the prism's contents were published on the blockchain like:

Prism1 has 90% bitcoin, 5% gold, and 5% USD
Prism2 has 10% Bitcoin, 80% gold, and 10% USD
... etc.

The same price feeds that already exist can be used to calculate each prism's value autonomously because the values and proportions of each asset in the Prisms are known to all nodes.

Then, separate Prisms from the rest of the Smartcoins/UIAs on the DEX under their own tab or page and allow Bitshares shareholders to be the counterparty of any Prism they want. Just like with Shapeshift's prisms, people can go short or long on any Prism that someone has created, thus people can "copy" the portfolio of seasoned investors or popular well performing portfolios or bet that Bitshares will outperform the Prism.

This would be much more decentralized than the way Shapeshift is doing it, as they are the one and only counterparty to all Prisms that are created. The smart contracts they run their Prisms through are a smoke screen so they can label a centralized service as being decentralized. Furthermore, since everything is done autonomously, I think that Bitshares could kill Prism on the fee aspect of things.

I dont think there are any changes to be made at the protocol level. This could all be done with a GUI

[yvv]

This would be very cool to have on bitshares.

[CoinHoarder]

I think this would be a cool feature for Bitshares, and it would tie in nicely with the Bitshares DEX and Bitshares' overall "business plan" of offering financial services.  I don't think that it would be something that would be too hard to implement too:

Create a new smartcoin asset class called "prisms" and allow them to be created much cheaper than normal smartcoins/UIAs.

Since the price feeds already exist, it would be easy to get the value of each prism without having to publish a price feed for each and every random prism that was created. For instance, the price feed for Bitcoin, Gold, and USD could be used as-is in an infinite amount of prisms as long as the prism's contents were published on the blockchain like:

Prism1 has 90% bitcoin, 5% gold, and 5% USD
Prism2 has 10% Bitcoin, 80% gold, and 10% USD
... etc.

The same price feeds that already exist can be used to calculate each prism's value autonomously because the values and proportions of each asset in the Prisms are known to all nodes.

Then, separate Prisms from the rest of the Smartcoins/UIAs on the DEX under their own tab or page and allow Bitshares shareholders to be the counterparty of any Prism they want. Just like with Shapeshift's prisms, people can go short or long on any Prism that someone has created, thus people can "copy" the portfolio of seasoned investors or popular well performing portfolios or bet that Bitshares will outperform the Prism.

This would be much more decentralized than the way Shapeshift is doing it, as they are the one and only counterparty to all Prisms that are created. The smart contracts they run their Prisms through are a smoke screen so they can label a centralized service as being decentralized. Furthermore, since everything is done autonomously, I think that Bitshares could kill Prism on the fee aspect of things.

[yvv]

I still don't understand. Does Prism side, actually buys those portfolio tokens locked in smart contract (Prism creation)?
And then on liquidation, sell them on the market and buy ETH? Is that how it works?
Where from will come all gains and loses if not from the actual market?
 
Otherwise Prism is betting house. Accepting bets on future price of portfolio. Like this it is very risky business model.
In the promotion video they explain what they are doing, but doesn't explain how. Anybody familiar with how?

They hold a bunch of tokens and they are going to short them by issuing prisms against ETH. For example, they hold BTC and they short a prism pegged to BTC by depositing ETH collateral. If ETH goes down relative to BTC, the value of collateral decreases, but the value of BTC holding increases by same amount. No leverage. A profit comes from fees they charge. It would be the same if bitAsset holders payed to shorters in bitshares. Not sure if this is a good business model, but we will see how it goes.
 

[Geneko]

I still don't understand. Does Prism side, actually buys those portfolio tokens locked in smart contract (Prism creation)?
And then on liquidation, sell them on the market and buy ETH? Is that how it works?
Where from will come all gains and loses if not from the actual market?
 
Otherwise Prism is betting house. Accepting bets on future price of portfolio. Like this it is very risky business model.
In the promotion video they explain what they are doing, but doesn't explain how. Anybody familiar with how?

[CLains]

I just saw a video on ErikVorhees new program Prism.

Is it just me or would it be way better on the bitshares network?

I was thinking the same thing. A simple gui which buys desired distribution of smartassets in the background would have some of the same functionality.

I am strongly considering taking the project my brother and I are working on (BitGate) in that direction after we get the initial setup right. I even got up the courage at Consensus to catch Vorhees running between interviews to ask him about Prism as it was so close to what I had envisioned for the future. Wealth management on the blockchain really is The Thing atm, and I think something all the New Money is struggling to handle with appropriate efficiency and safety.

[lafona]

I just saw a video on ErikVorhees new program Prism.

Is it just me or would it be way better on the bitshares network?

I was thinking the same thing. A simple gui which buys desired distribution of smartassets in the background would have some of the same functionality.

[bitmarket]

Is there anyway to make money off of it other than just being a bitshares stakeholder?

[bitmarket]

Thanks.  I had a kid.  Put me out of action for a few years.

[merivercap]

I just saw a video on ErikVorhees new program Prism.

Is it just me or would it be way better on the bitshares network?

Welcome back out of hibernation! 

Yes I agree it can be done much better on Bitshares... part of their 1% monthly fees are based on the gas costs...

[bitmarket]

I just saw a video on ErikVorhees new program Prism.

Is it just me or would it be way better on the bitshares network?