Bitcoin Forum
December 11, 2016, 12:44:04 AM *
News: To be able to use the next phase of the beta forum software, please ensure that your email address is correct/functional.
 
   Home   Help Search Donate Login Register  
Pages: [1]
  Print  
Author Topic: [Idea] Arbitrary bonds (fiat, gold, options), shares, votes - via Cryptocurrency  (Read 1932 times)
phelix
Legendary
*
Offline Offline

Activity: 1680


nmc:id/phelix


View Profile
March 01, 2012, 02:28:45 PM
 #1

Certainly others have thought about this, but I don't see the idea widely spread or at use, so here goes my version/vision. (Warning: shameless namecoin advertising)

A big problem for the smaller exchanges and potential decentralized exchanges is the legal difficulty, cost and long time to transfer fiat money. It hinders arbitrage operations and accessibility of small exchanges in general.

Being able to transfer bonds of EUR, USD and the like via cryptocurrencies could help the situation. It would allow to separate the exchange process from the process of getting fiat money into the chain so both processes could work more efficiently. (Something similar is coming up by using redeemable codes - there should be some advantages by doing it via the blockchain, though.)

While marking bitcoins is impossible, it would be very well be possible to follow a coin as long as it never gets mixed up with other coins. Also a rule to traverse the chain ("last out") could be established to determine the validity of such a marked coin and in effect track it. Such marked coins can then be proclaimed to be bonds (bitbond / cryptobond?) It should even be possible to send out dividends to the bond holders.

To be able to handle this it is important to ensure separation between normal and marked coins (bonds).

Example: I register bitbond1 and sell it for $1. Whoever transfers the bond back to me I will pay $1 back.

But this goes much further than transferring fiat money. It could be used for gold, stocks, options (bitcoin options or other options from stock markets), public registers. I could create a bunch of bitbonds and proclaim each a direct share of a company. Dividends would be paid to the addresses holding the bonds/shares.

I imagine a bitcoin / stock market gateway. Some day everything will be in the crypto chains.


Adding a holder-only modifiable text to the marked coin enables various more possibilities.

Shares could then be used to vote and be issued to all kinds of groups. It would allow for a permanent or timed vote (block height). Also votes could easily be redirected on the fly to other people / political parties.

Shares/bonds could be linked/chained to ensure validity (and do more? form groups like a swarm?).


Funny thing is, most of this is already possible with namecoin today...

1. Register a couple of domains (or other namespaces)
2. proclaim
3. distribute
4. return / dividend / vote / ...


These are good times. I am glad to witness the beginning of the cryptochain age.  Wink


blockchained.com ■ bitcointalk top posts
1481417044
Hero Member
*
Offline Offline

Posts: 1481417044

View Profile Personal Message (Offline)

Ignore
1481417044
Reply with quote  #2

1481417044
Report to moderator
1481417044
Hero Member
*
Offline Offline

Posts: 1481417044

View Profile Personal Message (Offline)

Ignore
1481417044
Reply with quote  #2

1481417044
Report to moderator
1481417044
Hero Member
*
Offline Offline

Posts: 1481417044

View Profile Personal Message (Offline)

Ignore
1481417044
Reply with quote  #2

1481417044
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
phelix
Legendary
*
Offline Offline

Activity: 1680


nmc:id/phelix


View Profile
March 02, 2012, 08:18:01 AM
 #2

I know there was something missing from the linked shares. Now I got one more: forming a web of trust.

edit: thinking about testing this, just for the heck of it

blockchained.com ■ bitcointalk top posts
Rockford99
Jr. Member
*
Offline Offline

Activity: 56


View Profile
March 02, 2012, 11:50:18 AM
 #3

for.....  a liquid market to trade oil, gold, S&P etc in BTC, but ideally it would be coupled with a BTC swap/collar market to mitigate currency risk.

If the authorities try to shut it down, someone could make a market in phone minutes - which are transferrable - and get around the currency prohibitions.  I noticed in Thailand that people can transfer phone minutes to other people's phones.  Is this feature available in the US?  Someone could make a market in phone minutes - which presumable won't be outlawed and fund things that way is the NWO shuts down Dwolla, etc.  I guess they could have a bunch of scratch off card codes?Huh

It the authorities block bank x-fers,  goods arbitrage with phone minutes which are closely linked to money could keep the BTC system flowing.
phelix
Legendary
*
Offline Offline

Activity: 1680


nmc:id/phelix


View Profile
March 02, 2012, 12:09:31 PM
 #4

for.....  a liquid market to trade oil, gold, S&P etc in BTC, but ideally it would be coupled with a BTC swap/collar market to mitigate currency risk.

If the authorities try to shut it down, someone could make a market in phone minutes - which are transferrable - and get around the currency prohibitions.  I noticed in Thailand that people can transfer phone minutes to other people's phones.  Is this feature available in the US?  Someone could make a market in phone minutes - which presumable won't be outlawed and fund things that way is the NWO shuts down Dwolla, etc.  I guess they could have a bunch of scratch off card codes?Huh

It the authorities block bank x-fers,  goods arbitrage with phone minutes which are closely linked to money could keep the BTC system flowing.

on the other hand if oil would be tradeable in bitcoin the bitcoin price would be much more stable.

i think vladimir is selling bitcoins by charging via phone... not directly related to phone minutes, though.

blockchained.com ■ bitcointalk top posts
Pages: [1]
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!