"In short, Prism, [...] enables users to create custom "prisms" by putting ether into a smart contract on the ethereum blockchain that is designed to mimic the price fluctuations of any of the hundreds of available cryptographic assets traded on exchanges."
"Instead of buying a cryptocurrency and keeping those funds on an exchange (or holding the keys in an offline wallet), users put a dollar amount, invest it in "bitcoin", "ether" and "monero" and select the exposure they would like the "portfolio" to have relative to the price fluctuations of each asset."
"There's also a social component, with the most successful prisms showing up on a leaderboard of where these custom assets are ranked. "People can see the Prism you made, and they can clone it and make their own portfolio," Voorhees said."
Alt trading is about to go to a whole new level
Bentley Moore
That's pretty cool
So you get the gains without actually owning the assets.
Cameron Collins
>Three weeks later, the price of the three components have risen an average of 25%. Sarah chooses to close her Prism, and she receives 125% of the collateral she deposited (less fees). >average of 25%
This is throwing me off a bit
So you might get less than what was possible on an exchange when you close the Prism?
Daniel Hughes
Basically. If I'm understanding it correctly it closely resembles ETFs.
Jace Peterson
Jews getting in already I see.
Jason Collins
Can you imagine the amount of memes, bragging and shilling that will be posted on Veeky Forums about their portfolio
we should get a single Veeky Forums portfolio going
fuck me this is going to be great
Parker Hughes
You would still own BTC, LTC Ripple on the exchange if you wanted.
But lets say you wanted to create something similar to a CBO aswell.
You would have your AAA and AA cryptos but add in few BB shit coins.
Kevin Walker
Seriously fucking cool
Isaiah Walker
What I meant was as you get an average return back, can you actually get less than what you would have gotten if you had the coins on an exchange and cashed out instead?
E.g. I have a portfolio of ETH and BTC with an initial investment of $1000
Eth goes up 50% and on paper gives me $500 BTC goes up 10% and on paper gives me $200
At an average of 30% gains, I'll get $330 (initial $1000 + $330) if I liquidate my Prism, but if I were to cash out from the exchange, I would have gotten $700.
Jacob Price
Bullish sign for ETH. Now normies who want to get into crypto but don't want to deal with the hassle of sketchy exchanges will just buy ETH & throw it into a smart contract. Love this project.
Carter Rogers
That's true, however they explain that this is a way for a more casual investor to have access to the crypto market.
If joe blow wants to make one of these portfolios he's probably not like us who sit on exchanges all day.
I just look at this as yet another thing you can add to your longs. It's basically creating a Prism token made up of anything you want.
Nathaniel Garcia
what about if i want to keep my shit private? if it is public and others copy me, do i get commissions or anything on their profit?
>As the Prisms are fully with ether capital, there's also a 1% per month fee paid to cover that cost of capital.
Cooper Cook
madness
Hunter Long
12% a year in fee makes it pretty much worthless.
Jaxon Howard
the fees are ridiculous but I don't think they'll deter casual investors.
Jaxson Rogers
No you fucking dingbat. what they mean by average return is proportional to the coins you have in your PRISM, you get exactly what you would get back if you have it on an exchange. the idea would be retarded otherwise you fucking brainlet cuckold probably nigger.
