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Author Topic: Idea: synthetic contracts of stocks valued in bitcoins trading exchange.  (Read 945 times)
vssa
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June 30, 2012, 08:25:54 AM
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I think about creating a underground exchange for stocks that already traded on NASDAQ.
For example if Apple stock traded at 584.00 USD now then the bitcoin exchange will create a synthetic contracts on the same price just in bitcoins, 584.00/BTC USD exchange rate,87.8 BTC and then apple stock can be traded with minimum fees ,I believe that slowly but surly we can dry out the NASDAQ volume by offering traders preferable fees and no authority restrictions.
This is first thoughts that i have please tell my what you think about it?
 

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June 30, 2012, 08:30:40 AM
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I think about creating a underground exchange for stocks that already traded on NASDAQ.
For example if Apple stock traded at 584.00 USD now then the bitcoin exchange will create a synthetic contracts on the same price just in bitcoins, 584.00/BTC USD exchange rate,87.8 BTC and then apple stock can be traded with minimum fees ,I believe that slowly but surly we can dry out the NASDAQ volume by offering traders preferable fees and no authority restrictions.
This is first thoughts that i have please tell my what you think about it?
 

I think this would be cool. Maybe on .bit domain too.


Stephen Gornick
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June 30, 2012, 09:45:39 AM
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BitcoinOPX is headed that way for options (cash settlement ... or contracts for difference / CFDs)
 - https://bitcoinopx.com/trade

MPeX is an exchange where synthetic issues are offered:
 - https://en.bitcoin.it/wiki/MPEx

GLBSE does too, as well:

The problem is, of course, ... with all of thise, is trust.  How can I know that I can cash out and I will have access to my funds.

vssa
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June 30, 2012, 09:57:43 AM
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What are you talking about ? where on the BitcoinOPX or MPeX I can buy apple stocks of some other stock traded on NASDAQ?
What BitcoinOPX and MPeX doing is apply old tools for new currency I more in the Idea of attract fiat money to bitcoin economy and never go back.
  

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June 30, 2012, 10:32:51 AM
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What are you talking about ? where on the BitcoinOPX or MPeX I can buy apple stocks of some other stock traded on NASDAQ?
What BitcoinOPX and MPeX doing is apply old tools for new currency I more in the Idea of attract fiat money to bitcoin economy and never go back.
  

I thought you were talking about a synthetic?  (which, of course, is not buying AAPL it is an artificial product that has nothing to do with AAPL except simulating its price moves).

BitcoinOPX has options, including for AAPL.  There is a pull-down select box.  Select AAPL for AAPL options.

As far as how one would attract investment this way, I don't know.  It is a difficult problem because presumably you are operating this anonymously and thus it is easy to con investors.  And if you aren't operating it anonymously it is vulnerable to confiscation by regulators.

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June 30, 2012, 10:36:55 AM
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Might be an interesting exercise in free market versus government monopoly. I wonder for instance where apple price would be in the abscence of government regulations and compliance.

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June 30, 2012, 12:30:43 PM
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So would stocks on your hypothetical bit coin trading exchange mirror that of the actual market on Nasdaq or NYSE? Or would you settle on a pre-determined date and time to start your bit coin denominated 'synthetic contract' at the going market price at that moment? Because either way I see many problems arising in the long run.

Personally, I don't feel that mirroring the real-world stock exchange using bitcoin would work - Bitcoin itself is decentralized and attempts at making it a pseudo-centralized real world stock exchange would ultimately be self-destroying.
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