Shapeshift launches PRISM based on Ethereum Smart Contracts

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"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

>>2147892
That's pretty cool

So you get the gains without actually owning the assets.

>>2147892
>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?

>>2147926
Basically. If I'm understanding it correctly it closely resembles ETFs.

Jews getting in already I see.

>>2147924
Can you imagine the amount of memes, bragging and shilling that will be posted on /biz/ about their portfolio

https://www.youtube.com/watch?v=SrAeCfSLZPE&feature=youtu.be

noice

>>2147950
we should get a single /biz/ portfolio going

fuck me this is going to be great

>>2147930
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.

>>2147955
>>2147924
Seriously fucking cool

>>2147979
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.

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.

>>2148027
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.

>>2147924
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?

1% a month fees

>>2148080
1% is nothing

Interesting.

>>2148080

1% of total holdings a month?

No way.

>>2148098
That's 12% a year in fees

>>2148101
http://www.coindesk.com/shapeshift-breaks-new-ground-prism-digital-asset-portfolio-product/

>As the Prisms are fully with ether capital, there's also a 1% per month fee paid to cover that cost of capital.

>>2148103
madness

>>2148103
12% a year in fee makes it pretty much worthless.

>>2148101
the fees are ridiculous but I don't think they'll deter casual investors.

>>2148027
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.

>>2148079
>being this hebrew

>>2148148
i make 12% a day with crypto

https://www.wealthdaily.com/articles/another-reason-why-ethereum-will-rise/8680

BULLISH

>>2148114

Wow that's insane, no thanks. I was really interested in this before, but not now. Not even shilling.

>>2148287

It will always take a %, so if you make 12% a day that's irrelevant because it will take 12% of that a year no matter how much you earn.