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>some people want to issue a crypto token that represents claims on the estate What could possibly go wrong? :D
by moralestapia 3y ago
>some people want to issue a crypto token that represents claims on the estate
What could possibly go wrong? :D
- dsr_ 3y agoObviously they should divide it into a low-risk low-return tranche and a high-risk high-return tranche and market two tokens, with an LLM informed of the rules providing final arbitrage.
- moralestapia 3y ago"It can't literally go tits up"
- arcticbull 3y agoThe Legend of 1r0nyman
- dougSF70 3y agoBinance has offered to list it on their exchange.
- actionfromafar 3y agoHilarious! The drama doesn’t end.
- kevinventullo 3y agoI just want a token that represents a claim on the movie rights.
- kylebenzle 3y agoInterestingly its specifically illegal to trade movie futures so a securitized token would not be allowed. 1. https://en.wikipedia.org/wiki/Onion_Futures_Act https://en.wikipedia.org/wiki/Onion_Futures_Act
- Scoundreller 3y agoWhat if it was based in the Bahamas?
- cmcaleer 3y agoThe onion stuff sounds bad but movie futures sound fine? Wouldn't it be good for studios to be able to hedge? I'm a little confused as to what the instrument is actually for, were it not for this law could I, like, short The Marvels?
- kylebenzle 3y agoIt would be horrible and too easy to manipulate, think a fighter taking a dive. Say the Marvels is coming out, Brie Larson knows everyone hates her and she's a bad actor so it will probably flop. Brie takes out a $10 million short on her own movie. Now she has an incentive to be horrible so she acts EXTRA bad and treats people even worse than usual to be sure it flops.
- kevinventullo 3y agoIs this any different than the incentives set up by conventional publicly listed companies? Like a CEO in principle could “take a dive” but their compensation discourages that.
- tylerhou 3y agoCEOs are also usually not allowed to take short positions in the company they head. Analogously, actors should not be allowed to short movie futures they act in.
- aorloff 3y agoAnd they say wit is dead
- worik 3y ago...it was homicide
- spacecadet 3y agoI snorted
- gzer0 3y agoNaturally, we'll need to tokenize the risk tranche, leverage a decentralized finance protocol to auto-balance the portfolio, and have an AI-powered DAO govern the arbitrage, ensuring our digital assets stay liquid.
- SantalBlush 3y agoThat extra computation will put more strain on the energy grid, but that's a good thing, because it will solve climate change.
- loopdoend 3y agoFew
- mjburgess 3y agowhat disappoints me about this comment is how many of my well-educated non-tech friends would regard the number of technical terms here as a sign that it's a well-researched idea
- RugnirViking 3y agothats also the kind of feedback I get in teachings from buisness advidors around pitching. "We need to see a little more proof you have credentials to pull off this idea. When we were talking last week you mentioned some technical terms, put a few of those in"
- f4c39012 3y agoIs that in 3D?
- arthurcolle 3y agoI'd like to subscribe to your newsletter
- hanniabu 3y agoIf RWAs were adopted and the tokens were non-custodial then not much. The issue with FTX is it was a centralized company and all funds were fully custodial. And while all this was happening SBF was buddy buddy with Gary Gensler. Aka it was a tradfi problem, not a crypto problem.
- singleshot_ 3y agoWould you please explain why it matters that the "funds" were fully custodial?
- throwaway98797 3y agonot your keys, not your crypto but it’s a moot point because centralized exchanges like coinbase offer a valuable service of solving a lot of the issues with crypto ux
- adolph 3y ago/solv/hid/
- junofan 3y agoMy understanding is the stolen money was fiat from the “fiat@“ account routed through Silvergate Bank.
- dboreham 3y agoCustomers sent real money to FTX expecting FTX to buy some coin and hold it on their behalf (because managing that properly themselves is out of scope for regular folks). So now the coin is defacto owned by FTX, not the customer. Similar to what does not happen when you buy ATT stock in your Schwab account.
- AlotOfReading 3y agoThat's very similar to what happens with stocks. When you buy a stock, it's Cede & co who actually own the physical certificates that transfer rights. There's a complicated web of contractual obligations between them and other DTCC companies that exists to give you essentially the same rights as if you were a true stockholder, but it's all being done "on your behalf" in a legal sense.
- CobrastanJorji 3y agoI think this is a terrible idea, but I fully endorse it because of the chance that it could hilariously result in FTX investors losing the same money twice.