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RE: Using BitShares to Underwrite Risky Asset Backed Currencies
Well they are your Heros and you can spend them any way you want:
- Sell them for USD and make payroll for your company.
- Send them to people as payment for things your company needs.
- Use them to buy more BTS. Rinse and repeat.
A real world example:
- Sell DawgpatchGoldDabloons for $200 each worth 1 oz of gold in two years.
- Use the proceeds to buy BTS
- Lock up those BTS in escrow to back the total DawgpatchGoldDabloons in circulation and borrow up to 50% in the form of HEROS. Then give the keys to the escrow to some trusted escrow agent - law firm or Miley Cyrus or whatever.
- Sell your HEROS for cash to pay for mining operations.
- As the mine begins to deliver gold, put that gold on deposit with Brinks.
- When enough gold is on deposit, make it available for delivery in exchange for DawgpatchGoldDabloons.
- As the gold is delivered, the escrow agent releases a matching amount of escrowed BTS to the issuer of DawgpatchGoldDabloons. These become their profits.
- If gold is not delivered by contract date, escrow agent issues the escrow to holders of DawgpatchGoldDabloons instead.