Quote from: porqupine on June 16, 2014, 08:25:50 AM

Quote from: Kalkuuuta on June 16, 2014, 08:01:06 AM

Quote from: Matt Y on June 15, 2014, 08:01:01 PM

Quote from: Bitcoin++ on June 15, 2014, 05:33:04 PM

I just realized that XCP is perfect for issuing digital currencies backed by real assets.
(Others may have written about this before, so forgive me if I "steal" these thoughts ... )

Unlike altcoins, you don't need to fear the network collapsing any more than you need for bitcoin.

Therefore XCP is the perfect platform for issuing an asset/coin, right?

Now say you own a shop and want customers to pay in a crytpo-currency because it's convenient and has low fees. The problem with bitcoin is volatility. Therefore you issue CRYPTODOLLAR which you back by USD. How you do it is simply that you put your asset for sale at the price of one dollar measured in bitcoins. Your asking price always adjusts up and down according to BTC's price. You also promise always to buy back at 99 cents, so that customers only faces a tiny spread (kinda like ETFs on the stock exchange are priced).

As long as your customers trust that you'll always buy back their CRYPTODOLLARS they have a cryptocurruency with zero volatility. To gain this trust you may have an audited bank account with the same amount of dollars as you've issued of these assets. The same can be done backed by gold, silver, or anything else.

In terms of betting this could work just as well. Xbet.io is an excellent service, but it's difficult to get the XCPs needed to bet. The spread is large and the volume is low. If someone trustworthy issues a CASIONDOLLAR or similar based on the description above, it becomes more user friendly. At the moment, though, this may be impossible (If I understood correct) since only XCPs are possible to use for betting. But in a future update of Counterparty any asset can be used, am I right?

Yes.

Couple page ago here was speculating about price and betting option one big reason for get price higher. If all assets are coming possible for use betting what you think for XCP price happen when that no need still?

You wouldn't enable more than one asset for betting - because that would decrease contract liquidity, and hence hurt protocol utility as a whole.

Edit: Also trust based issuance of tokens like dollars or euros is only useful in special cases - in most cases it's much preferable to make a CFD and not have to trust an issuer...

There are some much more interesting and much more obvious use-cases for Counterparty assets in derivatives than CFDs; futures, for example.

EDIT: Original post was redundant with porqupine.