Correct me if i'm wrong...
The traditional financial world is full of security packagings and mutual funds and banks and stock brokers etc.
Isn't now the time to start building similar groups and institutions in the cryptocurrency world? Isn't that the road to billions???
Yep. It will be interesting to see how the first autonomous crypto bank functions. It will be a challenge to figure out a way to evaluate lending risks, since it won't be able to enforce debts like regular banks can. I'm not sure if this problem actually has a solution.
How do we start a group or institution when everyone here are poorfags
Couldn't you just a conditional smart contract?
cryptos are basically stocks already, its the poor mans stock market.
I think it's only gonna happen if real world financial institutions embrace crypto and start providing banking accounts etc. in crypto
Another option is if certain banking functions get somehow embedded in the blockchain, but it's way too innovative and I don't know if it's feasible
what would your condition be
Sure. But what are the conditions? If I borrow money and never pay it back, there won't be anyone to punish me. If there was some sort of identity verification system to limit it to one "account" per person you could limit lending based on reputation, but that sounds like a mess to try to implement with a global userbase.
So i'm thinking, If you had a new cryptocurrency and the group that creates it controls half of the supply.
Couldn't they use that supply weight to try and force a continual growth rate of 10% weekly/monthly/yearly?
I realize that it would have to be carefully managed so that they would never lose the supply control to continue doing so...
Speaking of this, I was working on a project plan for creating a mutual fund of sorts that instead of investing people's money in coins that believe they'd are investing in, we instead collect their funds and track their progress while investing theirs funds for our own gains.
When peopel want to cash out we can pull from the larger fund or gains as a whole.
The idea behind this project would be that people are typically shirty with their money and thus, like a casino, we can assume there will be losers pulling out at lows, than winners pulling out at highs.
Of course we will charge management fees as well.
I think this could work, but you would need a strong majority I think. More than 50%, additionally you'd have yo be careful to not bleed profits when making transactions for coin growth.
Heres something that might help with that.
With ethereum, you can set up the coin so that you can delete or add coins to any wallet at any time.
So the managing group could use that to easily maintain a perfect 50% supply control at all times.
I don't understand what you're saying. Do you mean a 10% growth in circulating supply, or 10% growth in coin value? Ethereum will have around a 2% inflation, I know a lot of others are doing something similar.
Interesting but that can very easily become embezzlement if u pump a shitcoin w their funds then cash out w ur own coins. It's risky and unless you really know what you're trading probably shouldn't actualize it yet. I think the contract technicalities will be what everyone defaults to and sue the shit out of you if you fuck up or take their money.
How does capital tax work in this situation as well? Who pays the corporation or individuals
the point of cryptos is to get rid of most of the things you listed..
That's fair, I wonder if there is a growth set up that is safe enough. Perhaps there funds could be used for loans. On average the default chance is pretty low and the margins are really good.
As long as you don't loan like the US banks you should be able to keep "their" money safe enough to avoid big problems.
I already invested in a crypto fund and some fucker from south Africa ran away with my money
I don't know what situation exactly you're referring to.
All these things exist because they provide value. Unless crypto alternatives are created that can provide considerably more value, the things OP listed will never go away.
the whole point of crypto was to get rid of the bank and the middlemen.
for loans you just beg online or pan handle.
There are already bitcoin hedgefunds and people way smarter than you beating you to it, you're too late and too stupid
Poloniex has a loan portion, I think short term loans are very important for economic growth. I am sure some institution will fill in to provide them even in a post fiat world.
Also crypto is supposed to get rid of banks, its meant to do away with problems of inflation and exchange. Banks will always exist, and they will exist in a crypto world too.
The inflation/deflation point is on a per crypto basis. They aren't inherently either of the two.
Nah, they're not that smart.